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MEETING

NOVEMBER 10, 2011

AGENDA

Date:

November 3, 2011

To:

Commissioners of the Urban Renewal Authority

From:

Michael Collins, Chair

Subject:

Special Meeting, November 10, 11:00 a.m.

City Hall – Pikes Peak Room

107 N. Nevada Ave., Second Floor

Colorado Springs, Colorado

Agenda:

1.

Approval of September 15th CSURA meeting minutes

2.

Approval of Financial Report as of October 31, 2011

3.

2012 Operating Budget Draft – Jim Rees

4.

North Nevada Bond Payment & Store Data – Carrie Bartow, Dan Hughes

5.

Economic Impact of Urban Renewal Districts on the City – Anne Ricker

6.

CSURA Retreat Summary – Anne Ricker

7.

SW Downtown URA Market Analysis Status – Anne Ricker

8.

Vineyards Project Update – Chuck Miller

9.

Ivywild Project Update – Jim Rees

10.

UCCS Master Plan Status – N. Nevada Corridor Plan Update – Jim Rees

11.

Other Matters

12.

Adjournment

MINUTES OF THE REGULAR MEETING OF THE

URBAN RENEWAL AUTHORITY

OF THE CITY OF COLORADO SPRINGS

HELD ON THURSDAY, NOVEMBER 10, 2011

On the 10th day of November, 2011 at 11:00 a.m., the Commissioners of the Urban Renewal Authority of the City of Colorado Springs met in Special 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

Susan Wood-Ellis

ABSENT:

Rosemarie Venezia

Also in attendance:

Ryan Tefertiller

City Land Use Review

Bob Cope

City Economic Development

Carrie Bartow

Clifton Gunderson

Dan Hughs

CSURA Legal Council

Mary-K. Burnett

CSURA Staff

Chuck Miller

CSURA Staff

Jim Rees

CSURA Staff

Chairman Collins called the meeting to order at 11:05 a.m.

Item #1 – Approval of Minutes

Commissioner Hente requested that Rosemarie Venezia be added to the list of Commissioners in attendance for the September 15th meeting. Motion was made by Commissioner Kin, seconded by Commissioner Wood-Ellis, that the Minutes of the Regular meeting held on September 15th be adopted as corrected; the motion carried.

Item #2 – Approval of Financial Report

Ms. Carrie Bartow, Clifton Gunderson CPA, reviewed the income and expenditure financial statement for September 2011 answering questions from Authority members.

RESOLUTION NO. 1739

A RESOLUTION APPROVING THE FINANCIAL STATEMENT AND EXPENDITURES OF THE CSURA FOR THE PERIOD ENDING October 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 October 31st are hereby approved.

Motion was made by Commissioner Noyes, seconded by Commissioner Kin, that Resolution #1739 be adopted.

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

AYES:

Michael Collins

Dottie Harman

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.

NOTE: Items 5, 6 and 7 were postponed to the December 15th CSURA meeting.

Item #3 – 2012 Operating Budget Draft – Jim Rees

Jim Rees reviewed the Draft CSURA 2012 Operating Budget. Questions concerning Copper Ridge and Gold Hill Mesa were fielded by Jim Rees and Carrie Bartow concerning annual administrative fees and reimbursement of tax increment financing (TIF) monies. It was explained that additional budgetary funds have been placed in Reimbursement of Expenditures 2013 through 2016 for the possibility of future urban renewal areas. It is anticipated that in 2014 there will be TIF available to collect project administrative fees from the Southwest Downtown URA and from North Nevada. Mr. Rees continued with the review of proposed general expenditures in the 2012 draft budget stating that the numbers assume an annual inflation rate of 3% for 2012 through 2015.

Commissioner Colvert enters at 11:30 a.m.

It was decided that the draft budget would be refined and presented as a final budget for consideration of approval at the December 15th CSURA meeting.

Item #4 – North Nevada Bond Payment and Store Data

It was requested that the City Attorney be consulted concerning obtaining financial information on sales tax specifics and figures by store in the University Village of Colorado project area. Dan Hughes has set up a meeting to discuss this topic later this month.

Item # 8 – Vineyards Project Update – Chuck Miller

Chuck Miller stated that the next steps in this project will be an agreement from all participating parties on a financial plan, then the project redevelopment agreement and Memorandum of Understanding. Mr. Miller stated that this is the most complicated financial deal CSURA has ever faced. The three major pieces are the tax increment financing plan, the property tax district mill levy and the public improvement fee (PIF). The financial plan will be brought before CSURA for review and ultimate consideration of approval.

Mr. Miller reported that the first two buildings in the data center complex should break ground in 2012. There are a total of seven building proposed for this project. The largest expenditure will be utility and road intersection improvements.

Item #9 – Ivywild Project Update – Jim Rees

Jim Rees stated that the project is moving along well. Murphy Constructors has been chosen to renovate the Ivywild School building. Authority members reiterated direction to move forward with the request for use of City Sales Tax to City Council on this project. Further discussion concerning the use of sales tax TIF occurred. Timing is an issue for the project developer in conjunction with the closing on the sale of the school. CSURA staff will prepare City Council Agenda request for the December agenda. Aimee Cox will be contacted and asked to put the item on the City Council agenda.

Item #10 – UCCS Master Plan Status – North Nevada Corridor Plan Update – Jim Rees

Project concepts were presented at the October master planning session. Mr. Rees felt that the process was moving in a positive direction. There is a recommendation to build a “spine” road to connect the North Campus with the existing campus for a shuttle bus, pedestrians and bikes; not automobiles will be allowed.

The Peak Vista Health Building, which will be located across North Nevada from the southern most entrance into the University Village of Colorado retail center, will house space for community health functions, a gerontology program and research and development.There may be an opportunity for internships for UCCS students at the health center.The financing is being provided by the University of Colorado at Colorado Springs.

Item # 11 – Other Matters

Dan Hughes, CSURA Legal Counsel, stated that he had reviewed the proposed sculpture agreement changes submitted by University Village Colorado. The only issue he had was a change stating that the agreement would expire in 10 years. He did not see the need for an expiration date. Authority members suggested using the end of the bond payments as expiration or the end of the 25 year Urban Renewal Project time clock. Mr. Hughes will contact University Village Colorado to discuss these options.

It was announced that the Downtown Review Board has agreed to include one permanent position assigned to a CSURA representative. John Olson is currently representing Urban Renewal as a community representative but his term will be up in early 2012.

Commissioner Wood-Ellis made a motion to move into executive session at 12:30 p.m. The motion was seconded by Commissioner Olson. Matters of a financial issue were discussed.

Commissioner Wood-Ellis made a motion to come out of executive session at 1:05 p.m.. The motion was seconded by Commissioner Olson.

The next topic under other matters concerned the Urban League Day Care Center. Chuck Miller gave a brief history of the Urban League Day Care Center near the South Central Downtown Urban Renewal Area. He stated that there is an agreement deeding the property from Urban Renewal to the Urban League with a mortgage of $100,000 with no payment schedule unless there was a sale of the property. The Center was closed a few months ago due to dilapidation of the building. Mr. Miller explained that there are three options to deal with the property:

1. Restore the building

2. Move day care center to a new location

3. Completely go out of business and sell the property

CSURA staff is waiting on a decision from the Urban League. He stated that members of the Urban League Board may be contacting members of CSURA.

Mr. Miller then brought up the issue of the vacation of the Goodwill property on West Colorado Avenue.The operation is moving to a facility on Garden of the Gods Road. Their Board has asked about the possibility of Urban Renewal being interested in considering the area as a future project. CSURA staff will respond with a letter.

Chuck Miller reported that he had met with Gary Erickson, proposed developer for the Copper Ridge Project, and Jeff Smith from Classic Homes. Mr. Erickson and Mr. Smith requested CSURA to assist with finding funding sources for the Copper Ridge project and be an advocate for the project to outside agencies who might be interested in assisting with funding. Mr. Miller explained that if the project was elevated in priority there may be RTA dollars available.

Authority members stated that they did not feel this project was urban or renewal. Their preference was to remain with the agreed responsibilities; to be the financial entity for the extension of Powers Boulevard only.

Item #12 - Adjournment

There being no further business to come before the Commissioners, motion was made by Commissioner Kin, seconded by Commissioner Wood-Ellis to adjourn the meeting. Upon unanimous vote, the meeting was declared adjourned at 1:35 p.m.

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