csuralogov2

NOVEMBER 28, 2012

AGENDA

Date:

November 19, 2012

To:

Commissioners of the Urban Renewal Authority

From:

Susan K. Wood-Ellis, Chair

Subject:

Regular Meeting, November 28, 11:00 a.m.

City Hall – Pikes Peak Room

107 N. Nevada Ave., Second Floor

Colorado Springs, Colorado 80903

Agenda:

1.

Approval of October 24th CSURA meeting minutes

2.

Approval of Financial Report as of October 31, 2012

3.

Vineyard PIF Covenant and PIC Operating Agreement– Vince Colarelli

4.

Proposed 2013 CSURA Budget – Jim Rees

5.

Other Matters

6.

Adjournment

MINUTES OF THE REGULAR MEETING OF THE

URBAN RENEWAL AUTHORITY

OF THE CITY OF COLORADO SPRINGS

HELD ON WEDNESDAY NOVEMBER 28, 2012

On the 28th day of November, 2012 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

Scott Hente

David Neville

Judy Noyes

Wynne Palermo

Robert Shonkwiler

Rosemarie Venezia

Susan Wood-Ellis

ABSENT:

Jim Raughton

Also in attendance:

Bob Cope

City Economic Vitality

Ryan Tefertiller

City Land Use Development Review

Vince Colarelli

Vineyard URA Developer

Dan Hughes

CSURA Legal Counsel

Mary-K. Burnett

CSURA Staff

Jim Rees

CSURA Staff

Chairman Wood-Ellis called the meeting to order at 11:07 a.m.

Item #1 – Approval of Minutes

Commissioner Shonkwiler made the following spelling correction to Item #7, second paragraph, first line, changing the word imminent to eminent. Motion was made by Commissioner Collins, seconded by Commissioner Noyes that the Minutes of the Regular meeting, held on October 28th be adopted as amended. The motion carried.

Item #2 – Approval of Financial Report as of October 31, 2012

Ms. Carrie Bartow, CliftonLarsonAllen CPA, presented the income and expenditure financial statement for October 2012. She reviewed the information contained in the report including the most current figures for property and sales tax increment received, totaling $3,524,912, however the sales tax TIF reported to date for North Nevada is only though August. There has been a consistent increase in the sales tax numbers when compared with last year. To date annual sales tax collections have increased by 13% in the period of September 2011 to September 2012. Sales Tax in the North Nevada URA is up 14.6% over all in 2012. Ms. Bartow stated that the December A Bond payment would be fully funded.

There being no further discussion Commissioner Noyes presented the following resolution:

RESOLUTION NO. 1773

A RESOLUTION APPROVING THE INCOME AND EXPENDITURES OF THE CSURA FOR THE PERIOD ENDING OCTOBER 31, 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 October 31st are hereby approved.

Motion was made by Commissioner Noyes, seconded by Commissioner Venezia, that Resolution #1773 be adopted.

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

AYES:

Michael Collins

Scott Hente

David Neville

Judy Noyes

Wynne Palermo

Robert Shonkwiler

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item #3 – Vineyard PIF Covenant and PIC Operating Agreement – Vince Colarelli

Mr. Jim Rees stated that only minor changes had been made to both documents. The PIF is an attachment to the PIC document. Commissioner Neville asked about the details of the makeup of the Board and the information contained in the by-laws for the Vineyard Metro District. Mr. Colarelli stated that the metro district had not been set up yet. He further stated that a representative from CSURA will be included once the board has been established.

Mr. Colarelli was asked for an update on the development entity for the project. He explained that it had been established in September 2012 and that he expects to have the documents recorded in January 2013. Phase 1 will be funded by the developer. The annual CSURA payment has been approved and he is waiting on the setup of the escrow account to process the payment. He is currently working on establishing the brand for the project, cleaning up the property, implementing the improvements to the Janitell Road intersection and installing fencing and signage. It was stated that the roads within the project area will be public roadways. Phase 1 is expected to be completed by February 2013. Mr. Colarelli announced that every contractor and sub-contractor hired for this project has been local. The date for the official groundbreaking has yet to be determined.

Mr. Colarelli went on to report that currently there are 104 prospective companies and 18 priority companies being negotiated with for the data center project. It is expected these clients will fill one and a half buildings. The first building is anticipated to be completed in early 2013. He then stated that the UCCS/PPCC Workforce Development program is beginning to take form. He intends to invite Commissioner Jim Raughton to chair the advisory board. Mr. Colarelli feels that Mr. Raughton’s expertise in education will be invaluable to the development of the workforce program.

Mr. Ryan Register, City Land Development and Review, stated that the approval from the City for Phase 1 of the Development Plan for the Vineyard project should be completed within the next few weeks.

There being no further discussion Commissioner Collins presented the following resolution:

RESOLUTION NO. 1774

A RESOLUTION APPROVING THE PUBLIC IMPROVEMENT CORPORTATION (PIC) OPERATING AGREEMENT AND THE PUBLIC IMPROVEMENT FEE (PIF) COVENANT SUBJECT TO CSURA REVIEWING THE MAKE UP OF THE PIC BOARD

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

The PIC and PIF documents are hereby approved subject to the review of the membership of the PIC Board.

Motion was made by Commissioner Collins, seconded by Commissioner Venezia, that Resolution #1774 be adopted.

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

AYES:

Michael Collins

Scott Hente

David Neville

Judy Noyes

Wynne Palermo

Robert Shonkwiler

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item #4 – Proposed 2013 CSURA Budget – Jim Rees

Ms. Carrie Bartow presented an overview of the proposed 2013 CSURA Budget prepared by CliftonLarsonAllen with input from CSURA staff. Jim Rees reviewed the anticipated Operating Revenue and Expenditure sheet. Showing where annual fees for two of the Urban Renewal Areas had been increased and explaining the “notes” section as he went. The annual fee increases were discussed and Authority members requested that a representative from CityGate give an update on the project in early 2013.

There was also discussion concerning whether or not the Ivywild School had been included in the original base calculation. Authority members requested that the El Paso County Assessor’s office be contacted and verify what the calculated base value consisted of.

The budget line item for office space was discussed at length. A year’s worth of rent at the current rate had been included in the 2013 budget because there is not an agreement in place with the City for lowered rate or free office space. Commissioners’ Shonkwiler and Palermo urged an immediate move into the City Administration Building (CAB) into whatever space was available. Commissioner Shonkwiler stated he would be opposing any line item for rent in the 2013 budget. Commissioner Noyes stated she was apprehensive about the CSURA staff moving into the CAB as well as accepting the planning, accounting and administrative support being offered by the City.

Commissioner Hente interjected that he was all for saving funding within the CSURA Budget but being in close proximity of the City Administration made it difficult to maintain autonomy between the City and Urban Renewal. He felt that autonomy is very important and stated that perhaps a compromise would be to occupy appropriate space in City Hall. He offered to put three months of rent in the budget to give time to work out the office space issue. He offered to assist with working out the compromise. Chairperson Wood-Ellis was in support of the need for autonomy for CSURA staff to be able to function at an acceptable level without the stress of the current political climate.

Budget discussion continued in great detail. It was decided not to increase the pre-development annual administrative fees. It was announced that CSURA is expected to make the June interest only bond payment on North Nevada for the A Bonds. However, there may be a problem with making the full A Bond payment in December. There is no anticipation of making the B Series Bond payments in 2013.

There being no further discussion Commissioner Hente presented the following resolution:

RESOLUTION NO. 1775

A RESOLUTION ADOPTING THE 2013 CSURA BUDGE AS A WHOLE WITH THE FOLLOWING EXCEPTIONS OF REDUCING THE RENT LINE ITEM TO $3390 AND TAKING OUT THE $10,000 ADMIN FEE INCREASE FOR CITYGATE AND SOUTHWEST DOWNTOWN URBAN RENEWAL AREAS

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

The 2013 CSURA budget is approved with the exception of reducing the rent line item and eliminating the $10,000 admin fee increase for CityGate and Southwest Downtown URAs.

Motion was made by Commissioner Hente, seconded by Commissioner Collins, that Resolution #1775 be adopted.

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

AYES:

Michael Collins

Scott Hente

David Neville

Judy Noyes

Wynne Palermo

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

Robert Shonkwiler

The motion was declared carried and the Resolution adopted.

Item #5 – Other Matters

Mr. Rees reported that the Southwest Downtown URA arts district developer and outstanding property owner are miles apart on negotiating a price point for the one outstanding warehouse property. Authority members requested that staff draft a letter to the property owner requesting a counter-offer, substantiated by a current appraisal. Commissioner Palermo suggested the phrase “enter into negotiations” be used in the letter.

Commissioner Shonkwiler requested that consideration be given to changing the CSURA By-Laws annual officer elections from February to after the new Authority members are in place in April. He further requested that CSURA self-impose shorter board terms. Currently terms are set for 5 year periods. Mr. Dan Hughes, CSURA legal counsel, explained that the State Statue did require staggered terms and by imposing shorter terms that could be accomplished.

At this juncture the need for a December 26th CSURA meeting is in question. It was decided to wait and see if matters for discussion or decision making presented themselves and act accordingly.

Item #8 - Adjournment

There being no further business to come before the Commissioners, motion was made by Commissioner Shonkwiler, seconded by Commissioner Palermo to adjourn the meeting. Upon unanimous vote, the meeting was declared adjourned at 1:34 p.m.

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