csuralogov2
MEETING

MAY 22, 2013

AGENDA

Date:

May 14, 2013

To:

Commissioners of the Urban Renewal Authority

From:

David Neville, Chair

Subject:

Regular Meeting, May 22, 11:00 a.m.

City Hall – Pikes Peak Room

107 N. Nevada Ave., Second Floor

Colorado Springs, Colorado 80903

Agenda:

1.

Approval of April 24, 2013 CSURA meeting minutes

2.

Approval of Financial Report as of April 30, 2013

3.

NN MP & Design Guideline final version – Jim Rees

4.

Copper Ridge Redevelopment Agreement – Jim Rees

5.

Southwest Downtown – Murphy Project update – Chuck Murphy

6.

Other Matters

7.

Adjournment

MINUTES OF THE REGULAR MEETING OF THE

URBAN RENEWAL AUTHORITY

OF THE CITY OF COLORADO SPRINGS

HELD ON WEDNESDAY MAY 22, 2013

On the 22nd day of May, 2013 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:

Merv Bennet

Tiffany Colvert

David Isbelle

David Neville

Wynne Palermo

Jim Raughton

Robert Shonkwiler

Susan Wood-Ellis

ABSENT:

Rosemarie Venezia

Also in attendance:

Bob Cope

City Economic Vitality

Alex Brown

Copper Ridge URA

Steve Tuck

City Land Development & Review

Carrie Bartow

CliftonLarsonAllen, CPA

Dan Hughes

CSURA Legal Counsel

Mary-K. Burnett

CSURA Staff

Jim Rees

CSURA Staff

Chairman Neville called the meeting to order at 11:06 a.m. due to an administrative delay.

Item #1 – Approval of Minutes

Chairman Neville noted that corrections needed to be made for Commissions David Isbell and Tiffany Colvert concerning the spelling of their names. Motion was made by Commissioner Raughton, seconded by Commissioner Shonkwiler that the Minutes of the Regular meeting, held on April 22, 2013 be adopted as corrected. The motion carried.

Item #2 – Approval of Financial Report as of April 30, 2013

Ms. Carrie Bartow, CliftonLarsonAllen CPA, reviewed the monthly financial report as of April 30, 2013 including the property tax received from each Urban Renewal Area along with the most recent sales tax numbers on North Nevada, which is currently up 14.7% from last year. She stated that with the cooperation of the City Sales Tax office the North Nevada June Series A Bond payment will be made. There has been no sales tax received from the Ivywild School Project to date and the base has not been met as yet either.

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

RESOLUTION NO. 1788

A RESOLUTION APPROVING THE INCOME AND EXPENDITURES OF THE CSURA FOR THE PERIOD ENDING APRIL 30, 2013

The income and expenditures of the Colorado Springs Urban Renewal Authority for the period ending April 30, 2013 are hereby approved.

Motion was made by Commissioner Colvert, seconded by Commissioner Raughton that Resolution #1788 be adopted.

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

AYES:

Merv Bennett

Tiffany Colvert

David Isbelle

David Neville

Wynne Palermo

Jim Raughton

Robert Shonkwiler

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

The check register was presented for review by Authority members. Staff answered questions concerning payments made for the annual CSURA audit, the Ivywild School loan payment and TIF reimbursement to School District 11 from the Gold Hill Mesa URA.

There being no further discussion Commissioner Wood-Ellis presented the following resolution:

RESOLUTION NO. 1790

A RESOLUTION APPROVING THE CHECK REGISTER OF THE CSURA FOR THE PERIOD ENDING APRIL 30, 2013

The check register of the Colorado Springs Urban Renewal Authority for the period ending April 30, 2013 is hereby approved.

Motion was made by Commissioner Wood-Ellis, seconded by Commissioner Raughton that Resolution #17909 be adopted.

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

AYES:

Merv Bennett

Tiffany Colvert

David Isbelle

David Neville

Wynne Palermo

Jim Raughton

Robert Shonkwiler

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item #3 – North Nevada Master Plan and Design Guideline Final Version – Jim Rees

Authority members reviewed the changes requested at last month’s meeting and reiterated their approval for the final version of the North Nevada Master Plan and Design Guideline document. Commission Wood-Ellis asked what the next step is in the process for attaching this document to the NN Avenue Urban Renewal Plan for future reviews by City Planning staff members. Mr. Rees and Mr.Steve Tuck from City Planning explained that the document goes to City Planning Commission and then to City Council for consideration of approval. There is currently a couple of proposed developments for the North Nevada URA, consequently there is a need to get this document approved and in place in a timely manner.

Item #4 – Copper Ridge Redevelopment Agreement – Jim Rees

Jim Rees gave an overview concerning the Copper Ridge Redevelopment Agreement and the purpose of the document. He further explained that CSURA has been collecting TIF on this project and that there is consideration being given to using a portion of the already collected TIF to be used towards planning for the extension of Powers Boulevard. There was discussion about the Metropolitan District mill levy taxation and how it would be used, collected and distributed.

Additionally, there was discussion concerning the scope of CSURA’s responsibilities in building the extension of Powers Boulevard and the design of the Powers and I-25 interchange. Mr. Rees stated that the intersection design is not in final format at this point. Commissioner Wood-Ellis explained the history and issues of this project. She stated that the project had been approved by City Council and therefore CSURA must move forward with the project. Alex Brown, financial advisor for Copper Ridge URA, stated this is a federalized project with a lengthy and extensive planning process. Fundamental alignment has been approved by Federal entities, working with CDOT, including consideration for the environment. The design for the intersection was done and approved by CDOT and ultimately is in place for this project. The roadway will be beneficial to the Copper Ridge development and it will also benefit the Colorado Springs community on a wider scale. The State has recently announced that they will be assigning $350 million for five years to be used toward the completion of public projects that have been in the queue for several years, including this interchange.

Mr. Brown went on to say that the debt financial capacity for the project shows that there is enough funding to build Powers to Voyeger in Phase 1; completion in 2016 and connect it to the I-25 intersection in Phase 2 in 2018. The sales tax sharing agreement between the City and the developer is still in flux. Commissioner Wood-Ellis asked when this agreement would be in place. Mr. Cope explained that there is a need for public support to give a portion of the City Sales Tax toward the Copper Ridge project in the form of tax increment funding. Commissioner Raughton pointed out that if the City does not approve a tax sharing agreement within the next three years that per the CSURA Redevelopment Agreement it becomes void.

There was a suggestion to further define the Copper Ridge Redevelopment Agreement. Commissioner Bennett stated that there is currently a very new City Council in place. He felt that work needed to be done before City Council could make an informed decision or decide on approval of this document. Commissioner Wood-Ellis stated that it is the responsibility of the Developer to inform City Council about their project and the need for sales tax TIF and how it will be used. Mr. Brown stated that it was very likely that if the City does not approve a portion of the sales tax that the project will not move forward.

Chairman Neville asked Mr. Brown if there are plans for use of the TIF funds already collected. Mr. Brown stated there were none in place but that there has been consideration for using the funds for pre-design and planning work.

The question was asked “Is City Council willing to support a percentage of the sales tax collected in the project area toward the Copper Ridge Project?”

Bob Cope stated that all the presentations on the Copper Ridge project surmised that a 1.5% City sales tax would be approved. However, the first attempt to include an additional .5% from El Paso County (EPC) sales tax was not supported by the County and ultimately the item was pulled. To date there has not been another attempt made. Commissioner Bennett suggested that information be shared with the current City Council, including previous efforts, the project history and the current financial picture of the project and then ask for approval of 1.5% of City Sales Tax within the project area to be used to build the extension of Powers Boulevard to I-25. Mr. Brown stated that the financial picture for the project never included .5% from EPC.

Chairman Neville summarized the lengthy discussion and requested that this item be tabled for a short time, so that the City has an opportunity to revisit the topic of sales tax TIF. Jim Rees was given direction to work with Mr. Cope in this endeavor.

Item #5 – Southwest Downtown – Murphy Project Update – Chuck Murphy

This item was postponed to a later date.

Item #6 – Other Matters

Mr. Cope gave a short summary of an RTA grant submittal that is currently being prepared through the City. The entity awarded the grant would be illegible for a portion of the State Sales Tax to be used towards tourism in their region. Mr. Cope stated that there is consideration being given to appointing a separate board to oversee the distribution of the funding if the grant is awarded to the City of Colorado Springs. CSURA requested that a seat be designated for a representative from CSURA on that board. A draft resolution was presented to Authority members for their review. CSURA would be the governmental agency that would receive the tax dollars and distribute them in cooperation with an agreement with the City. Chairman Neville requested an addition to the end of the first paragraph; “subject to approval of final terms and conditions”.

There being no further discussion Commissioner Wood-Ellis presented the following resolution:

RESOLUTION NO. 1789

A RESOLUTION APPROVING THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY’S INVOLVEMENT IN THE CITY OF COLORADO SPRINGS' APPLICATION FOR FUNDING UNDER THE REGIONAL TOURISM ACT

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

The City of Colorado Springs is seeking approval from the Colorado Economic Development Commission to keep a portion of anticipated state sales tax proceeds generated by new development that will be constructed in the Colorado Springs area if the application is approved. As part of that process, the Colorado Regional Tourism Act (RTA) requires that the City designate a financing entity to receive such funding from the State. The City has asked that the Colorado Springs Urban Renewal Authority (CSURA) serve as the financing entity and CSURA hereby agrees and resolves to do so, subject to approval of final terms and conditions.

CSURA further agrees and resolves that it will enter into an agreement with the City or the City’s RTA governing body which specifies that RTA funds will be allocated as determined by the City or the City’s RTA governing body, and to ensure that CSURA has all information necessary to fulfill its reporting requirements as a financing entity under state law.

CSURA further resolves to engage in a review of its Urban Renewal Plans to determine whether those plan areas where future venues will be located should be amended, terminated, or revised pursuant to Colorado Urban Renewal Law in order to help facilitate development of the City's RTA Project.

Motion was made by Commissioner Wood-Ellis, seconded by Commissioner Palermo that Resolution #1789 be adopted.

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

AYES:

Merv Bennett

Tiffany Colvert

David Isbelle

David Neville

Wynne Palermo

Jim Raughton

Robert Shonkwiler

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

The motion was declared carried and the Resolution adopted.

Commission Shonkwiler brought up the following three topics for consideration at a later date:

CSURA adopting the City’s policy for conflict of interest

Limit CSURA Board terms to two 5-year terms

Amend by-laws to state that elections should be held after new board members are in place

An update on Professional Liability Insurance coverage was requested. Mary-K. Burnett responded by stating that Brown and Brown Insurance was working on quotes and that additional information had been requested. Authority members felt that more than one quote would be advisable. Also staff was asked to distribute a copy of the current liability coverage to CSURA members.

Item #7 - Adjournment

There being no further business to come before the Commissioners, motion was made by Commissioner Isbell, seconded by Commissioner Colvert to adjourn the meeting. Upon unanimous vote, the meeting was declared adjourned at 1:05 p.m.

item4a2
Search
Nevadaafter1
Nevadaafter

 2017 Meetings

June 28, 2017
Special Meeting June 15, 2017

May 24, 2017
April 26, 2017

Special Meeting April 7, 2017
March 22, 2017

February 22, 2017

January 25, 2017

m3

December 21, 2016
November 16, 2016

November 10, 2016

October 26, 2016

City Council, October 5, 2016

September 28, 2016
August 24, 2016
August 3, 2016

July 20, 2016

June 22, 2016

May 25, 2016
April 27, 2016

City Council, April 6, 2016
Special Meeting, April 6, 2016
March 23, 2016

February 24, 2016

January 27, 2016

 2015 Meetings

December 16, 2015
November 18, 2015

November 10, 2015 CSURA/DDA

October 28, 2015 Special
October 14, 2015 Special
September 23, 2015

September 14, 2015
August 26, 2015

July 22, 2015

June 24, 2015

May 27, 2015

May 7, 2015 Work Session

April 22, 2015

March 25, 2015

February 25, 2015

January 27, 2015

 2014 Meetings

December 17, 2014
December 4, 2014

November 19, 2014

October 22, 2014

October 7, 2014, Special
September 24, 2014

September 10, 2014 Special

July 23, 2014
June 25, 2014
May 28, 2014

April 23, 2014

March 26, 2014

February 26, 2014

January 22, 2014

m6

December 18, 2013
November 19, 2013
October 18, 2013
September 25, 2013
August 28, 2013

June 26, 2013
May 22, 2013
April 24, 2013
March 27, 2013

February 27, 2013

January 23, 2013

m7

November 28, 2012
October 24, 2012

September 26, 2012

August 8, 2012

July 25, 2012

June 21, 2012

May 17, 2012

April 19, 2012

March 15, 2012
March 5, 2012
February 23, 2012
January 31, 2012 Special Meeting
January 19, 2012
January 13, 2012 Special Meeting

m8

December 15, 2011
November 10, 2011
September 15, 2011
August 18, 2011
June 9, 2011
May 19, 2011
April 19, 2011
March 17, 2011
February 24, 2011
January 20, 2011

 2010 Meetings

December 15, 2010
October 28, 2010
September 16, 2010
July 15, 2010
May 20, 2010
April 6, 2010
February 4, 2010
January 21, 2010