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MEETING

JUNE 9, 2011

AGENDA

Date:

May 16, 2011

To:

Commissioners of the Urban Renewal Authority

From:

Michael Collins, Chair

Subject:

Regular Meeting, June 16, 11:00 a.m.

City Hall – Pikes Peak Room

107 N. Nevada Ave, Second Floor

Colorado Springs, CO

Agenda:

1.

Approval of May 19 CSURA meeting minutes

2.

Approval of Financial Report as of May 31, 2011

3.

2010 CSURA Audit – Carrie Bartow

4.

Lowell UpdateMike DeGrant

5.

UCCS North Campus Master Plan Contract – Jim Rees

6.

Grant Funding – Chuck Miller

7.

North Nevada Sculptures Liability Coverage – Mary-K. Burnett

8.

Project Update Report – Jim Rees

9.

Other Matters

10.

Adjournment

MINUTES OF THE REGULAR MEETING OF THE

URBAN RENEWAL AUTHORITY

OF THE CITY OF COLORADO SPRINGS

HELD ON THURSDAY, JUNE 16, 2011

On the 16th day of June, 2011 at 11:00 a.m., the Commissioners of the Urban Renewal Authority of the City of Colorado Springs met in Regular Session at 107 N. Nevada Avenue, at City Hall in the Pikes Peak Conference Room, Colorado Springs, Colorado.

In attendance were:

COMMISSIONERS:

Michael Collins

Brian Colvert

Dottie Harman

Scott Hente

Jim Kin

Judy Noyes

John Olson

Rosemarie Venezia

Susan Wood-Ellis

ABSENT:

Also in attendance:

Ryan Tefertiller

City Land Use Review

Carrie Bartow

Clifton Gunderson CPA

Bob Cope

City Economic Development

Brian Burnett

CU Colorado Springs

Rich Laden

The Gazette

Mike DeGrant

Lowell Neighborhood

Anne Ricker

Ricker/Cunningham

Dan Hughes

CSURA Legal Council

Mary-K. Burnett

CSURA Staff

Jim Rees

CSURA Staff

Chairman Collins called the meeting to order at 11:04 a.m.

Item #1 – Approval of Minutes

Vice-Chairman Olson requested that an addition be made to the May 19th minutes concerning the discussion on Gold Hill Mesa stating that CSURA would offer to assist the developer in anyway they could to encourage the continued progress of the project. It was also noted that Commissioner Venezia needed to be added as an attendee for the May 19th meeting. Motion was made by Commissioner Olson, seconded by Commissioner Wood-Ellis, that the Minutes of the Regular meeting held on May 19th be adopted as corrected. The motion carried.

Item #2 – Approval of Financial Report

Carrie Bartow, Clifton Gunderson CPA, reviewed the current financial report including the year to date El Paso County tax increment financing (TIF) payments for each of our urban renewal projects. She reported that the June North Nevada bond payment was made; partially out of the reserve bond funds. At the present rate of property and sales tax TIF revenue, combined with the reserve funds being used to make the bond payments the reserve funds should run out in June of 2012. There may be some consideration to requesting an extension of the TIF clock beyond the original 25 years.

Ms. Bartow further reported that the retailers in the University Village Colorado retail center are all meeting performance projections for sales tax revenue with the exception of Costco. This may be explained by higher food sales which are not taxable items. The project developers are working hard to bring in additional tenants into the center.

RESOLUTION NO. 1730

A RESOLUTION APPROVING THE FINANCIAL STATEMENT AND EXPENDITURES OF THE CSURA FOR THE PERIOD ENDING MAY 31, 2011

BE IT RESOLVED BY THE COMMISSIONERS OF THE URBAN RENEWAL AUTHORITY OF THE CITY OF COLORADO SPRINGS, COLORADO, THAT:

The financial statement and expenditures of the Colorado Springs Urban Renewal Authority for the period ending May 31st are hereby approved.

Motion was made by Commissioner Venezia, seconded by Commissioner Harman, that Resolution #1730 be adopted.

Upon a Call for the Vote, the following Commissioners voted:

AYES:

Michael Collins

Brian Colvert

Dottie Harman

Scott Hente

Jim Kin

Judy Noyes

John Olson

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item #3 – 2010 CSURA Audit – Carrie Bartow

Ms. Bartow presented the 2010 CSURA audit report done by BiggsKoffort, Certified Public Accounts, answering questions from Authority members concerning the Independent Auditor’s Report statement and clarifying details in the report.

There being no further discussion Commission Wood-Ellis presented:

RESOLUTION NO. 1731

A RESOLUTION APPROVING THE 2010 BIGGSKOFFORD INDEPENDENT AUDITOR REPORT FOR THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY

BE IT RESOLVED BY THE COMMISSIONERS OF THE URBAN RENEWAL AUTHORITY OF THE CITY OF COLORADO SPRINGS, COLORADO, THAT:

A resolution accepting the 2010 CSURA audit report by BiggsKofford Certified Public Accountants is hereby approved.

Motion was made by Commissioner Wood-Ellis, seconded by Commissioner Kin, that Resolution #1731 be adopted.

Upon a Call for the Vote, the following Commissioners voted:

AYES:

Michael Collins

Brian Colvert

Dottie Harmon

Jim Kin

Judy Noyes

John Olsen

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

Item #4 – Lowell Update – Mike DeGrant

Mr. DeGrant shared that in late 2010 the partnership between Earl Robertson and Lehman Brothers was dissolved concerning ownership of the Lowell Project (South Central Downtown Urban Renewal Area) and the Spring Creek Project. The result was that Lehman took 100% of the Lowell Project and Mr. Robertson now owns 100% of the Spring Creek Project. The last three residential loft units and one office suite in the Poet’s Lofts building were auctioned off in December of last year. Mr. DeGrant is still managing both projects.

Mr. DeGrant reported that new marketing concepts have been presented to Lehman Brothers. There is a project of 120 apartments, market rate and above, being proposed in place of the condominium project. The apartment project has begun the planning process. He further reported that there has been interest for residential rental and retail space. The metro district funding has been exhausted and there may be a request for an extension of the Tax Increment Financing clock by the bond holders sometime in the future.

Item #5 - UCCS North Campus Master Plan Contract – Jim Rees

Mr. Jim Rees, CSURA staff, reviewed the process followed for selecting the team to do the consulting work on the UCCS North Campus Master Plan Contract along with additional work requested by UCCS. There is consideration for a health center along with growing momentum for a sports arena on the college campus. However, he stated that smart planning is critical before fundraising can begin. Focus group meetings are planned for July 13-15. Mr. Rees encouraged members of the Authority to attend. Due to the dual funding sources for this project an official document clarifying the details will be written and put into practice.

Mr. Brian Burnett, Vice Chancellor for UCCS, talked about the transformation of the North Nevada corridor with the extension of Vincent Drive connection now becoming a reality. He stated that UCCS absolutely supports the University Village Colorado (UVC) and improvements along North Nevada. Currently there are students working in almost every retail store in the UVC development. The population of students on campus is at 9,000 including 1,800 graduate students. They are actively planning for an academic health services center for phase 1 of development. There is a definite need for a track as well.

UCCS is actively working on the deed restrictions for donated land parcels. There is a growing need for more dormitory space. There are 900 beds already on campus and their goal is to make room for 20% of the student population. Commissioner Kin asked for a list of the major needs on campus. Brian Burnett listed the following:

Track and soccer stadium

4,000 seat arena

Performing Arts Center

Academic Health Services Center

Incubator Business Park is open for consideration

Mr. Burnett stated that street car transportation is probably not a reality in the near future but UCCS is actively planning for the possibility in the more distant future. Commissioner Noyes requested that the performing arts facility be labeled as a priority.

There being no further discussion Commission Kin presented:

RESOLUTION NO. 1732

A RESOLUTION APPROVING A CONTRACT BETWEEN CSURA AND AYERS/SAINT GROSS FROM FUNDING EARMARKED IN NORTH NEAVA BOND FUND BUDGET AND FROM UCCS IN THE AMOUNT OF $268,500 FOR FACILITIES STRATEGIC PLAN ON UCCS CAMPUS

BE IT RESOLVED BY THE COMMISSIONERS OF THE URBAN RENEWAL AUTHORITY OF THE CITY OF COLORADO SPRINGS, COLORADO, THAT:

A resolution approving a $268,500 contract between CSURA and Ayers/Saint Gross, an architectural/planning firm for planning the UCCS Facilities Strategic Plan is hereby approved.

Motion was made by Commissioner Kin, seconded by Commissioner Olson, that Resolution #1732 be adopted.

Commissioner Harman stated that she supported the motion but requested that clear communication occur with Authority throughout the planning process. Jim Rees asked for volunteers to participate in the planning process. Commissioner Olson will continue to volunteer and Commissioner Colvert volunteered as well.

Upon a Call for the Vote, the following Commissioners voted:

AYES:

Michael Collins

Brian Colvert

Dottie Harmon

Scott Hente

Jim Kin

Judy Noyes

John Olson

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item #6 – Grant Funding – Chuck Miller

Mr. Miller stated that there were few opportunities for grant funding that covered operational costs. He then mentioned that consideration may be given to hiring an intern or grant writer to do further research on available sources.

Item #7 – North Nevada Sculpture Liability Coverage – Mary-K. Burnett

Ms. Burnett requested that this item be postponed until further communication is completed with Mr. Kevin Kratt, Kratt Commercial Properties and University Village Colorado.

Item #8 – Project Update Report – Jim Rees

Mr. Rees stated that most items had been covered in meeting discussions and asked if there were any questions.

Item #9 – Other Matters

A letter was presented from Chuck Murphy, Murphy Constructors, requesting the annual Pre-Development Agreement administrative fee be waived due to the current economy and that there is no current movement for redevelopment in the Southwest Downtown Urban Renewal Area. Extensive discussion occurred concerning the possibility of changing the current policy of pre-development administrative fees. CSURA staff was directed to establish new criteria concerning the “pay as you go” method vs. an annual administrative fee. Authority members agreed to “defer” Murphy’s 2010 administrative fees until the new process is in place. Also, a letter needs to be written to CityGate updating them on the new fee process once the criteria has been reviewed and approved.

Additional discussion emerged concerning CSURA members beginning dialogues with newly appointed city council members. The benefits of this type of connection will build a stronger presence for the Urban Renewal Authority.

Item #10 - Adjournment

There being no further business to come before the Commissioners, motion was made by Commissioner Noyes, seconded by Commissioner Harman to adjourn the meeting. Upon unanimous vote, the meeting was declared adjourned at 1:18 p.m.

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