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MEETING

SEPTEMBER 19, 2012

AGENDA

Date:

September 26, 2012

To:

Commissioners of the Urban Renewal Authority

From:

Susan K. Wood-Ellis, Chair

Subject:

Regular Meeting, September 26, 11:00 a.m.

City Hall – Pikes Peak Room

107 N. Nevada Ave., Second Floor

Colorado Springs, Colorado 80903

Agenda:

1.

Approval of July 25th and August 8th CSURA meeting minutes

2.

Approval of Financial Report as of August 31, 2012

3.

Gold Hill Mesa update and commercial area plan:  Bob Willard

4.

Executive Session
Overview of the Use of Executive Session: Dan Hughes
SW Downtown Property Acquisition Negotiation: Chuck Murphy
Employee vs. Employer IRS issue: Dan Hughes

5.

Project Status Report:  Jim Rees

6.

Other Matters

7.

Adjournment

MINUTES OF THE REGULAR MEETING OF THE

URBAN RENEWAL AUTHORITY

OF THE CITY OF COLORADO SPRINGS

HELD ON THURSDAY SEPTEMBER 26, 2012

On the 26th day of September, 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

David Neville

Wynne Palermo

Jim Raughton

Robert Shonkwiler

Rosemarie Venezia

Susan Wood-Ellis

ABSENT:

Scott Hente

Also in attendance:

Bob Cope

City Economic Vitality

Chuck Murphy

SW Downtown Arts District

Bob Louden

Citizen

Ryan Tefertiller

City Land Use Development Review

Bob Willard

Gold Hill Mesa URA

John Olson

EV Studio Planning

Eric Fetch

Collaborative Design Group

Rich Laden

Gazette

Dan Hughes

CSURA Legal Counsel

Mary-K. Burnett

CSURA Staff

Jim Rees

CSURA Staff

Chairman Wood-Ellis called the meeting to order at 11:10 a.m.

Item #1 – Approval of Minutes

Motion was made by Commissioner Raughton, seconded by Commissioner Palermo, that the Minutes of the Regular meeting, held on July 25th and the Minutes of the Special meeting, held on August 8th 2012 be adopted as written. The motion carried.

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

Ms. Mary-K. Burnett, CSURA Staff, reviewed the income and expenditure financial statement for August 2012, prepared with the assistance of CliftonLarsenAllen CPA. She gave a brief overview of the information contained in the financial report including the most current figures for property and sales tax increment received. There being no further discussion Commissioner Noyes presented the following resolution:

RESOLUTION NO. 1770

A RESOLUTION APPROVING THE INCOME AND EXPENDITURES OF THE CSURA FOR THE PERIOD ENDING AUGUST 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 August 31st are hereby approved.

Motion was made by Commissioner Noyes, seconded by Commissioner Collins, that Resolution #1770 be adopted.

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

AYES:

Michael Collins

David Neville

Judy Noyes

Wynne Palermo

Jim Raughton

Robert Shonkwiler

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item #3 – Gold Hill Mesa Update and Commercial Area Plan

John Olson, EV Studio Planning, and Eric Fetch, Collaborative Design Group, presented the proposed plan for the commercial development within the Gold Hill Mesa URA. They shared drawings with CSURA members and emphasized the use of the Form Base Code was critical in implementing environmental effectiveness. He stated that geothermal heat is being considered for the commercial development.

Mr. Willard announced that the City of Colorado Springs is recommending that the TIF clock be restarted and that consideration be made for sales tax TIF on the commercial development. The ultimate feel for this phase will be old mainstreet character. Commissioner Noyes congratulated the Gold Hill Mesa team on their creativity that is being designed into this project.

Mr. Willard stated that there are currently 145 occupied residences with an additional 15 or so more within the next two months. He stated that the 2011 Parade of Homes model was sold and they are working diligently toward a balance of places to live, work and play within the project.

Item #4 – Overview of the Use of Executive Session – CSURA Legal Counsel Dan Hughes

Mr. Hughes reviewed the specific criteria for the use of Executive Session such as personnel matters, the sale or transfer of property, certain legal matters, etc. He stated that to move into executive session it required a vote of 2/3 majority. He also stated that when CSURA used executive session to discuss certain matters that the topics being discussed were considered to be confidential in nature. There were never any votes taken in executive session. Usually only Authority members, CSURA staff and possibly a citizen with first-hand knowledge of a topic to be discussed were allowed in executive session.

There being no further discussion concerning executive session Authority member Palermo made a motion to move into closed session. The motion was seconded by Authority member Venezia. Gazette reporter Rich Laden objected to the need for an executive session to discuss land acquisition matters. CSURA legal counsel, Dan Hughes, stated that the details of the land acquisition qualified the matter for executive session.

Commissioner Shonkwiler opposed the motion, however, the motion passed 7 to 1.

Executive Session began at 12:00 p.m. and lasted approximately 40 minutes. Commissioner Noyes made a motion to return to open session, seconded by Commissioner Collins.

Upon returning to open session, Commissioner Collins made the following motion:

RESOLUTION NO. 1771

A RESOLUTION APPOINTING JAMES REES AS EXECUTIVE DIRECTOR/SECRETARY
FOR THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY EFFECTIVE
SEPTEMBER 1, 2012.

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

James Rees be appointed as the Executive Director/Secretary for CSURA effective September 1, 2012 is hereby approved.

Motion was made by Commissioner Collins, seconded by Commissioner Noyes, that Resolution #1771 be adopted.

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

AYES:

Michael Collins

David Neville

Judy Noyes

Wynne Palermo

Jim Raughton

Robert Shonkwiler

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item # 5 – Project Status Report – Jim Rees

Hardcopies of the report were distributed to Authority members for review.

Item # 6 – Other Matters

Jim Rees handed out a summary of CSURA’s current budget status including revenue received plus those potential revenues anticipated in 2012. He also reviewed the estimated expenditures through the end of the year. He summarized the expenditures that were over budget and reported that there would be a salary savings of $8400 due to the monthly reduction of $1,000 for himself and the retirement of Chuck Miller at the end of August. The bottom line is that there will be a minimum cash balance going into 2013.

He stated that there had been some consideration of requesting a line of credit through the City. This practice has been done in the past and CSURA paid back the balance with interest. However, due to the City’s current economic state, it was advised that a line of credit should not be pursued.

The next option discussed was to use funds from the tax increment account from Copper Ridge URA for operating until additional project revenues come through and/or additional urban renewal areas are established. This could be done through the use of a loan where a note was put in place for repayment or to use the funds for qualifying expenses as set forth in the Colorado State Statues. Commissioner Shonkwiler stated his preference was to use the Copper Ridge funding directly rather than through a revolving loan scenario. CORRECTION: He then stated that his recommendation was not to borrow or use the Copper Ridge funds but to adjust the CSURA budget to reflect accrual income and expenditures. He further suggested opening dialogue with the City Administration concerning the use of Urban Renewal in the future.

Item #7 - Adjournment

There being no further business to come before the Commissioners, motion was made by Commissioner Venezia, seconded by Commissioner Collins to adjourn the meeting. Upon unanimous vote, the meeting was declared adjourned at 1:37 p.m.

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