csuralogov2
MEETING

FEBRUARY 23, 2012

AGENDA

Date:

February 17, 2011

To:

Commissioners of the Urban Renewal Authority

From:

Michael Collins, Chair

Subject:

Special Meeting, February 23, 11:30 a.m.

City Hall – Academy Room

107 N. Nevada Ave., Ground Floor

Colorado Springs, Colorado

Agenda:

1.

Approval of January 19th and 31st CSURA meeting minutes

2.

Approval of Financial Report as of January 31, 2012

3.

2011 Budget Amendments – Carrie Bartow

4.

Ivywild Redevelopment Agreement – Chuck Miller

5.

Mayor’s Audit Request

6.

Urban Renewal Impact Study – Anne Ricker

7.

North Nevada Bond Status – sales tax info request legal action cost – Dan Hughes

8.

Other Matters: URA Questionnaire - Chuck Miller, Elections

9.

Adjournment

MINUTES OF THE SPECIAL MEETING OF THE

URBAN RENEWAL AUTHORITY

OF THE CITY OF COLORADO SPRINGS

HELD ON THURSDAY, FEBRUARY 23, 2012

On the 23rd day of February, 2012 at 11:30 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 Academy Conference Room, Colorado Springs, Colorado.

In attendance were:

COMMISSIONERS:

Michael Collins

Brian Colvert

Dottie Harman

Scott Hente

Jim Kin

John Olson

Rosemarie Venezia

Susan Wood-Ellis

ABSENT:

Judy Noyes

Also in attendance:

Bob Cope

City Economic Development

Carrie Bartow

Clifton Larson CPA

Ryan Tefertiller

City Land Development Review

Anne Ricker

Ricker-Cunningham

Rich Laden

Gazette

Brandy Williams

City Council Member

Daniel Chacon

Gazette

Dan Hughes

CSURA Legal Counsel

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

Motion was made by Commissioner Harman, seconded by Commissioner Olson, that the Minutes of the Regular meeting, held on January 19, 2012 be adopted with the addition that Commissioner Hente voted yes on Resolutions 1746 through 1748 and otherwise as written; the motion carried.

Item #2 – Approval of Financial Report

Ms. Carrie Bartow, LarsenAllen, CPA, reviewed the income and expenditure financial statement for January 2012 as well as other financial information concerning Tax Increment Financing revenues. Copies of current financial report and TIF reports were not available for review. There being no further discussion Commissioner Wood-Ellis presented:

RESOLUTION NO. 1749

A RESOLUTION APPROVING THE EXPENDITURES OF THE CSURA FOR THE PERIOD ENDING JANUARY 31, 2012

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

The expenditures of the Colorado Springs Urban Renewal Authority for the period ending January 31st are hereby approved.

Motion was made by Commissioner Wood-Ellis, seconded by Commissioner Venezia, that Resolution #1749 be adopted.

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

AYES:

Michael Collins

Brian Colvert

Dottie Harman

Scott Hente

Jim Kin

John Olson

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item #3 – 2011 Budget Amendments – Carrie Bartow

This item was postponed to the March meeting.

Item # 4 – Ivywild Redevelopment Agreement – Chuck Miller

This item was postponed to the next meeting. Mr. Miller informed Authority members that time was of the essence in this matter; thus a special meeting is being scheduled for March 5 at 11-11:30 a.m. Meeting confirmation would be distributed as soon as the time had been confirmed and a conference room was scheduled. The use of Tax Increment Financing for this project on eligible developer expenses needed to be reviewed and approved by the CSURA Board members. The timing on the release of the loan dollars for the Ivywild School Project may create a period of uncertainty or risk for CSURA.

Discussion on the assessed property values occurred due to the fact that the project site has been a public entity (school) since it was built and with the purchase by the developers the area will be rezoned to fit the planned development.

Item #5 – Mayor’s Audit Request

Commissioner Hente noted that the Mayor’s request was for an inspection, not an audit of CSURA files and records. There was extensive discussion about the logistics of the inspection, staff time, availability, information being reviewed; cost if information being requested required assistance outside of CSURA staff, concerns of the Mayor and other unanswered questions. Commissioner Wood-Ellis felt that CSURA was completely transparent, citing an annual audit, public process, monthly public meetings, agendas and minutes posted on the City’s website www.Springsgov.com as well as CSURA’s own website www.csurbanrenewal.org.

Commissioner Kin requested a legal determination on what the Mayor’s inspection request involved. He then presented:

RESOLUTION NO. 1750

A RESOLUTION REQUESTING CHIEF OF STAFF LAURA NEUMANN TO PROVIDE CSURA WITH THE QUESTIONS THE CITY ADMINISTRATION HAS AND WHAT INFORMATION THEY WANT FROM OUR RECORDS FOR A DETERMINATION ON THE LEGAL OBLIGATION OF CSURA

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

A resolution requesting City Chief of Staff Laura Neumann to provide CSURA with the questions the City Administration has and what information they want from CSURA records and then a legal determination can be made on the obligation of CSURA to provide such information has been approved.

Motion was made by Commissioner Kin, seconded by Commissioner Harman, that Resolution #1750 be adopted.

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

AYES:

Michael Collins

Dottie Harman

Jim Kin

The following voted:

NAYES:

Brian Colvert

Scott Hente

John Olson

Rosemarie Venezia

Susan Wood-Ellis

The motion was declared defeated and the Resolution was not approved.

CSURA members asked if Mr. Bob Cope, City Economic Development, would check into the schedule for the inspection. He stated that he would.

Commissioner Kin then presented:

RESOLUTION NO. 1751

A RESOLUTION DIRECTING CSURA STAFF NOT TO RESPOND TO THE INSPECTION REQUEST UNTIL AN ITEMIZATION OF INFORMATION AND QUESTIONS HAD BEEN RECEIVED FROM THE CITY ADMINISTRATION

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

A resolution directing CSURA staff not respond to the inspection request until specific information and questions have been received from the City Administration.

Motion was made by Commissioner Kin, with no second. The motion was declared dead.

Commissioner Wood-Ellis directed CSURA staff to wait until there was an official Open Records Act request from the City before responding and or opening files and records. CSURA members nodded in agreement. CSURA staff will give a status update on the inspection request at the next meeting, possibly as soon as March 5th.

Commissioner Kin then presented the following motion:

RESOLUTION NO. 1752

A RESOLUTION GIVING THE CSURA CHAIR THE AUTHORITY TO RESPOND IN A TIMELY MANNER TO ANY MISINFORMATION PUBLISHED TO THE PUBLIC CONCERNING CSURA BUSINESS ISSUES

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

The CSURA chairman has the authority to respond, in a timely manner, to any misinformation published to the public about CSURA business issues.

Motion was made by Commissioner Kin, seconded by Commissioner Hente, that Resolution #1752 be adopted.

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

AYES:

Michael Collins

Brian Colvert

Dottie Harman

Jim Kin

John Olson

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Mr. Dan Hughes, CSURA legal counsel, interjected that the type of information being requested by the City will determine the validity of the policies cited in the recent news release and letter to the CSURA chair.

Item #6 – Urban Renewal Impact Study – Anne Ricker

Ms. Ricker distributed a draft version of the CSURA Impact Study. She noted overall statistics concerning the number of jobs created within CSURA urban renewal areas, both permanent and during construction. She also reviewed statistics concerning the amount of personal income generated by these jobs; almost $100 million. Information on each of the active urban renewal project areas will also be included in the final product.

As commissioners reviewed the draft format several suggestions for additional information and testimonials from the public were made. It was also suggested that tax income benefits to the City generated by these projects should be included along with the total TIF dollars collected and reinvested to date.

Commissioner Colvert excused himself from the meeting at 1:10 p.m.

Item #7 – North Nevada Bond Status

Mr. Jim Rees reported that the next step will be to build projections based on the information at hand and study various scenarios to assist with solving the issue of the North Nevada Bond default. This information will be shared with the bond underwriter, DA Davidson, who will use it in an effort to restructure the bonds with the bond holders.

Item #8 – Other Matters

URA Questionnaire – Chuck Miller

Mr. Miller stated that staff is embarking on a study of fees and additional information from other Colorado Urban Renewal Authorities through a questionnaire that is being developed and will be distributed across the State. The results of the information collected will be shared with Authority members, City Council and the City Administration.

Ms. Burnett reminded Authority members that elections for Chair and Vice Chair positions will take place in March.

Commissioner Olson reminded Authority members that as of April 1st he will no longer be sitting on the Downtown Development Review Board. A new volunteer will need to be appointed by Authority members; especially now that a permanent position has been earmarked for a CSURA representative.

Chuck Miller stated that CSURA will have minimum involvement in the Copper Ridge URA; however there will still be a responsibility to see that the expenditures of tax increment financing dollars are spent in accordance with the future redevelopment agreement.

Item #9 - Adjournment

There being no further business to come before the Commissioners, motion was made by Commissioner Harman, seconded by Commissioner Kin to adjourn the meeting. Upon unanimous vote, the meeting was declared adjourned at 1:30 p.m.

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