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MEETING

MARCH 15, 2012

AGENDA

Date:

March 8, 2012

To:

Commissioners of the Urban Renewal Authority

From:

Michael Collins, Chair

Subject:

Regular Meeting, March 15, 11:30 a.m.

City Hall – Academy Room

107 N. Nevada Ave., Ground Floor

Colorado Springs, Colorado

Agenda:

1.

Approval of March 5th CSURA meeting minutes

2.

Approval of Financial Report as of February 29, 2012

3.

Overlook at Pulpit Rock – Kyle Campbell, Classic Consulting Engineers

4.

2012 Budget Amendments – Jim Rees

5.

Election of Officers

6.

North Nevada Bond Restructure – Carrie Bartow

7.

Other Matters

8.

Adjournment

MINUTES OF THE REGULAR MEETING OF THE

URBAN RENEWAL AUTHORITY

OF THE CITY OF COLORADO SPRINGS

HELD ON THURSDAY, MARCH 15, 2012

On the 15th day of March, 2012 at 11:30 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 Academy 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:

Bob Cope

City Economic Development

Carrie Bartow

Clifton Larson CPA

David Neville

Kraemer Kendall Benson

Jim Spittler

NAI Highland

Steve Tuck

City Land Development Use Review

Sean O’Hara

EV Studio - Architect

Kyle R. Campbell

Classic Consulting

Bill Foster

EV Studio - Architect

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 – Recognition of Contribution of Members Leaving the Authority and Introductions

Chairman Colllins shared the individual contributions of Commissioners’ Colvert, Harman, Kin and Olson as they end their terms on the Urban Renewal Authority. He passed out letters of appreciation and individual gifts as he expressed appreciation for their dedication.

Item #2 – Approval of Minutes

Motion was made by Commissioner Noyes, seconded by Commissioner Kin, that the Minutes of the Special meeting, held on March 5, 2012 be adopted as written. The motion carried.

Item #3 – Approval of Financial Report as of February 29, 2012

Ms. Carrie Bartow, CliftonLarsenAllen, CPA, reviewed the income and expenditure financial statement for February 2012 with copies distributed to Authority members as well as other financial information concerning Tax Increment Financing revenues.

There being no further discussion Commissioner Noyes presented:

RESOLUTION NO. 1756

A RESOLUTION APPROVING THE INCOME AND EXPENDITURES OF THE CSURA FOR THE PERIOD ENDING FEBRUARY 29, 2012

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

The income and expenditures of the Colorado Springs Urban Renewal Authority for the period ending February 29th are hereby approved.

Motion was made by Commissioner Noyes, seconded by Commissioner Hente, that Resolution #1756 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 #4 – Election of Officers

This item was moved to later in the meeting.

Chairman Collins introduced and welcomed David Neville, newly appointed CSURA member. His term on the Authority will begin on April 1, 2012. Mr. Neville stated he was an attorney who specialized in real estate development. He has financial experience and appreciates the opportunity to serve on the Urban Renewal Authority.

Item #5 – Overlook at Pulpit Rock – Kyle Campbell, Classic Consulting Engineers

Mr. Campbell shared a map showing the location of the Overlook at Pulpit Rock Apartments within the North Nevada Avenue Urban Renewal area. Commissioner Olson excused himself from the meeting at 11:38 a.m. as he had worked on the project and wanted to recues himself.

Mr. Campbell continued by showing the signalized intersection into the development. He stated that there was a dramatic grade change on the site. This issue had been resolved by proposing three story buildings on the west at the back of the site and shorter two story buildings on the east facing Pulpit Rock. This alleviated the need for a retaining wall.The plan shows that the parking will be broken up by the apartment structures and landscaping and includes a clubhouse, carports and an indoor mailroom. There will be pedestrian access via natural pathways into the open space area to the west of the project site. It is anticipated that the building exterior finish treatment will be stucco, siding and rock to achieve a contemporary design. The client wants a class A building appearance, however cost is a factor in the selection of materials.

There are a total 288 planned units; 13 three-bedroom, 110 two-bedroom, 131 one-bedroom and studio units. One of the anticipated uses will be students from UCCS. Commissioner Harman asked if there was an “affordable housing” element in this development. Mr. Jim Rees, CSURA staff, commented that this development would not be receiving any tax increment financing; therefore he felt that CSURA could not enforce the “affordable housing element”.

It was stated that the developer would be providing curb, gutter, sidewalks and standard improvements on the site as required by City Planning. City Planner Steve Tuck explained that it was not appropriate to require the developer to go above and beyond the normal requirements in road improvements and esthetics. Jim Rees stated that a meeting with City Engineering to discuss requirements for improvements has been scheduled for March 22. This development will generate over $300,000 in park fees and City Planning has asked Park and Recreation to use the funds to improve the nearby pedestrian/trail connection.

It is still early in the design process. The color palette will be in muted colors but final building treatments have not been determined. The proposed lighting meets City requirements and because the project is up against the creek it has no real backside design. The streetlights are already in place.

Jim Rees asked questions concerning the right-of-way treatments. The developer plans to grade the area as there are no other approved guidelines to follow at this time. Mr. Rees requested that a higher level of landscape treatment be implemented in this prominent area along the North Nevada Avenue Corridor. The area in question is a no man’s land as it could be City right-of-way or CDOT right-of way. It was stated that the master plan does not have the level of detailed standards as design guidelines would. Unfortunately CSURA does not have the funding to finish of process for updating the master plan and having it adopted by City Council. UCCS and the developers of University Village have been approached as possible partners. UCCS has agreed to pay for part of the master plan update; details are to be worked out.

Authority members stated that CSURA has approved the master plan with detailed requirements and this development is within the North Nevada Urban Renewal area; consequently requirements do exist. Commissioner Wood-Ellis stated she is not willing to let the issue of building treatments and landscaping be ignored. City Planner Steve Tuck stated that it is difficult to enforce standards that haven’t been approved by the City. Mr. Rees requested that once the building treatments have been selected that the developer comes back to CSURA with the final details. Commissioners’ Wood-Ellis and Harman requested that the North Nevada Avenue Master Plan be reviewed for affordable housing implementation.

CSURA legal counsel, Dan Hughes, commented that this project would generate tax increment funds that will assist with North Nevada bond payments.

Commissioner Olson re-entered at 12:20 p.m. after the project presenters had left the meeting.

Discussion continued with a consenting result of wanting to make this project a benefit and best fit for the North Nevada Avenue Urban Renewal Area. Chairman Collins asked that material palette/samples be brought back to CSURA for review.

Item #6 – North Nevada Bond Restructure – Carrie Bartow

Ms. Bartow stated that she has set a meeting in early April with the University Village Colorado developers to receive updates on current and new tenants. She is hoping to get a reasonable idea of the sales tax projections. The results will be used by the underwriter to determine what options might be available for restructuring the bonds.

Item #7 – Executive Session

Commissioner Noyes made a motion to move into executive session. The motion was seconded by Commissioner Kin and passed.

Authority members have requested to go into executive session to discuss legal matters.

Commissioner Wood-Ellis made a motion to move back into public session. The motion was seconded by Commissioner Hente and passed.

Item #4 – Election of Officers

Chairman Collins stated that his schedule prevented him from being considered for another term as Chair. Commissioner Noyes nominated Commissioner Wood-Ellis as Chairperson for the next calendar year. Commissioner Wood-Ellis accepted the nomination. Commissioner Hente seconded the nomination.

There being no further discussion Commissioner Noyes presented:

RESOLUTION NO. 1757

A RESOLUTION APPROVING COMMISSIONER WOOD-ELLIS AS THE NEXT CHAIR FOR CSURA WITH A TERM ENDING ON MARCH 31, 2013

A resolution approving Commissioner Wood-Ellis as CSURA Chair through the end of March 2013 is hereby approved.

Motion was made by Commissioner Noyes, seconded by Commissioner Hente, that Resolution #1757 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

NAYES:

None

The motion was declared carried and the Resolution adopted.

Commissioner Hente then nominated Commissioner Noyes for vice chair. Commissioner Noyes shared her regrets and then nominated Commissioner Venezia for vice chair. Commissioner Venezia accepted the nomination and it was seconded by Commissioner Harman.

There being no further discussion Commissioner Noyes presented:

RESOLUTION NO. 1758

A RESOLUTION APPROVING COMMISSIONER VENEZIA AS THE NEXT VICE CHAIR FOR CSURA WITH A TERM ENDING ON MARCH 31, 2013

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

A resolution approving Commissioner Venezia as CSURA Vice Chair through the end of March 2013 is hereby approved.

Motion was made by Commissioner Noyes, seconded by Commissioner Hente, that Resolution #1758 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

NAYES:

None

The motion was declared carried and the Resolution adopted.

Chairman Collins introduced and welcomed David Neville, newly appointed CSURA member. His term on the Authority will begin on April 1, 2012. Mr. Neville stated he was an attorney who specialized in real estate development. He has financial experience and appreciates the opportunity to serve on the Urban Renewal Authority.

Item #8 – 2012 Budget Amendments – Jim Rees

Mr. Rees distributed two alternative sets of 2012 budget amendments. He reviewed both options explaining that the numbers represented 10 months in place of a full year. Discussion ensued with options from both alternatives being considered. It was decided to transfer $20,000 from Copper Ridge TIF funds at this time to cover annual overhead for 2011 and 2012. If a redevelopment plan comes to fruition in 2012; additional funds may be considered for transfer as set forth in a redevelopment agreement. It was also decided to charge Urban Renewal Areas that do not have redevelopment agreements in place $10,000 each for overhead from TIF for 2012 with an increase to $15,000 in 2013 where funds are available.

There being no further discussion Commission Kin presented:

RESOLUTION NO. 1759

A RESOLUTION APPROVING OPTION 1 OF THE 2012 CSURA BUDGET AMENDMENTS WITH CHANGES; DELETING ADVERTISING BUDGET, DROPPING DUES AND MEMBERSHIPS TO $500 AND DECREASING SALARIES WITH FURTHER ADJUSTMENTS POSSIBLE

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

A resolution approving Option 1 2012 CSURA Budget Amendments with changes is hereby approved.

Motion was made by Commissioner Kin, seconded by Commissioner Wood-Ellis, that Resolution #1759 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 #7 - Adjournment

There being no further business to come before the Commissioners, motion was made by Commissioner Wood-Ellis, 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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