APRIL 23, 2014



April 23, 2014


11:00 a.m.


City Hall – Pikes Peak Room

107 N. Nevada Ave., Third Floor

Colorado Springs, Colorado 80903



Introduction of New Board Members – David Neville


Approval of March 26, 2014 CSURA meeting minutes – Lisa Valverde


Approval of Financial Report as of March 31, 2014 – Carrie Bartow


Approval of Continuing Disclosure Report – Carrie Bartow


North Nevada UCCS Student Art Project – Kevin Kratt


Election of Officers – David Neville


Other Matters




April 23, 2014 Transcript





On the 26nd day of March 2014, the Commissioners of the Colorado Springs Urban Renewal Authority of the City of Colorado Springs met in Regular Session at 107 N. Nevada Avenue, at City Hall Council Chambers, Colorado Springs, Colorado.

In attendance were:


Wynne Palermo

David Neville

Jim Raughton

Valerie Hunter

Peter Scoville

Robert Shonkwiler

Merv Bennett

Tiffany Colvert

Also in attendance:

Dan Hughes

CSURA Legal Counsel

Jim Rees


Lisa Valverde

Carrie Bartow

CliftonLarsonAllen, CPA

Peter Wysocki


Mr. Neville introduced each board member, Ms. Valerie Hunter, Mr. Peter Scoville, and Mr. Nolan Schriner. Mr. Shriner was not in attendance.


Ms. Colvert requested a change to the minutes to reflect a change in wording from Senior Service Center, to Citizen Service Center.

Motion by Mr. Raughton, second by Mrs. Palermo to approve the March 26, 2014 meeting minutes.

Motion Carried 6-0 (Mr. Scoville and Ms. Hunter did not vote as they did not attend the March 26, 2014 hearing in an official capacity.)


Ms. Bartow gave a brief explanation of the financial reports per the documents provided in the packet.

Mr. Neville inquired of how IvyWild compares with prior quarters. Ms. Bartow stated that revenues are improving and explained the split between revenue service and loan interest. She was optimistic as to the outlook.

Mr. Raughton briefly addressed the new board members stating that the Board has been fiscally responsible and has cut overhead costs significantly and is doing more to ensure financial sustainability.

Mr. Neville inquired of a projection for the June Payment on Nevada Avenue senior bonds. Ms. Bartow stated she projects that the June payment will be made. Mr. Neville inquired of payments into the reserve funds. Ms. Bartow stated there have been payments into the reserve funds, in smaller amounts. Mr. Shonkwiler inquired of the technical default on the bonds currently going back to December. Mr. Shonkwiler inquired of being able to be caught up on the A bonds, and payments could begin on the B bonds. Ms. Bartow stated that at this time it is unsure if the A bonds will be fully funded on December 1st. The B bonds are payable on the second day in December and at this time there is no expectation that a payment will be made on the B bonds in 2014.

Mr. Raughton inquired of continuing accrued administrative expenses. Ms. Bartow explained that there is not an accruing fee. Mr. Raughton inquired as to why this is not an accruing fee. Ms. Bartow stated that she does not believe that there is a “catch up” provision written into the bond contracts. Mr. Raughton stated that this may have been an error in the original bond documents, and wants to ensure that this doesn’t happen in the future. Ms. Bartow stated that the Admin fees will be recouped last. Mr. Raughton restated that he does want to ensure payment sometime in the future.

Mr. Neville wanted Ms. Bartow to clarify the check written for Copper Ridge. Ms. Bartow stated this is the TIF owed to Copper Ridge pursuant to the Redevelopment Agreement.

Motion by Ms. Palermo to approve the Financial Reports, second by Mr. Raughton

Motion Carried 8-0


Ms. Bartow explained the report per the document located within the packet.

Mr. Neville briefly explained to the new board members what the report is. Mr. Neville inquired of the building permits and why they weren’t showing up on the quarterly reports. Ms. Bartow stated that she spoke with Brian Olson from the County and will continue pursuing this request.

Mr. Shonkwiler inquired of the building permits from UCCS. Ms. Bartow stated that those permits do not impact the funds for the URA therefore they are not included.

Motion by Ms. Colvert to approve the Quarterly Report, second by Ms. Palermo

Motion Carried 8-0


Mr. Kevin Kratt introduced the two scholarship award recipients and allowed them to introduce themselves and showcase their projects.

Mr. Kratt gave a brief summation of the program for the new board members. He explained that this project is his company’s version of the downtown Art Walk. The art is commissioned and owned by Mr. Kratt’s company, and the art stays on the corridor. Mr. Bill Murray, inquired of the possible incentives given to Trader Joe’s to move. Mr. Kratt stated there was no public incentive given.

Ms. Colvert commended the program and stated she looks forward to it annually. 

Mr. Matt Barton professor with UCCS spoke to his appreciation for the program and thanked Mr. Kratt. He introduced Mr. Ben Smith, the first award recipient. Mr. Smith gave an introduction as well as the experience that he has gained through the program. Mr. Smith displayed his art piece it is called “Man Apart” and the concept behind it is to explain that there is something that has to be given up in order to move forward.

Ms. Stacey Spruer was the second artist awarded the scholarship. She spoke briefly to the inspiration for her piece and her experience working with the project as a whole. Her piece was titled “Taking Flight”.

Mr. Shonkwiler inquired of the thought that the art community is growing. She stated that she’d like to see the art move to the east side of town.

Mr. Raughton inquired of the use of local vendors. Ms. Spruer stated yes all of the vendors were local. Mr. Bill Murray (audience member) stated that a current arts project is being bulldozed by the Railway Lofts.


Mr. Shonkwiler nominated Mr. Neville for Chair, Ms. Palermo seconded the nomination. Mr. Neville nominated Ms. Palermo, Mr. Raughton seconded the nomination.

Motion to have Mr. Neville remain Chair and Ms. Palermo remain Vice Chair.

Motion Carried 8-0.


Mr. Neville stated that he spoke with Mr. Rees and no carriers will insure the board for more than $2 Million dollars of liability. He stated that the pool of insurers was very small, and no carrier would increase the liability. It was explained that Mr. Rees is covered under the liability insurance provided. Mr. Neville will disseminate the email. Mr. Raughton inquired if the City could intervene on behalf of the Board if necessary. Mr. Shonkwiler stated that the City has involved the Board in very high dollar items and would like the City to assist if necessary. Mr. Bennett stated that a discussion with the City Attorney needs to take place. Mr. Neville will contact Ms. Massey and begin the discussions. It is potentially an issue that has been addressed, however, Mr. Neville will discuss this directly with the City Attorney.

Mr. Neville stated that the draft Resolution from last meeting is still under review and there is no action required at this time.

Mr. Neville also discussed the issue of holding meetings in the City Council Chambers; the request came from the City Planning Director as well as a City Council Member. Mr. Neville stated that the meetings are open and the public is invited and the setting is interactive. Mr. Shonkwiler stated that he feels that the meetings should be held in Chambers to alleviate any perception that may have arisen regarding secrecy. Mr. Neville stated the medium can be stifling, and although there are members that are comfortable with the setting, there are others who are not so comfortable. Mr. Shonkwiler again spoke to the idea that opening the meeting more to the public in perception may be a good idea. Mr. Bennett observed that a roundtable type discussion does not take place at the dais, however if the room can be rearranged to allow for a roundtable discussion it would be another viable option. Mr. Shonkwiler also suggested posting a sign on the window stating this is a “public meeting’. Ms. Kanda Calef (audience member) stated that as a citizen she believes that something televised would behoove the Board. Mr. Scoville stated that he feels more comfortable in the setting provided today and feels the conversation is more open and discussions flow.

Mr. Wysocki stated that the URA is a formal board and he feels that it should be more formal, and also having the meetings televised and recorded would be a benefit to the Board. Mr. Shonkwiler again stated that he feels Chambers would be a good location for the Board. Mr. Bennett will explore the possibility of rearranging the room. Mr. Shonkwiler requested to make a motion to move future hearings to Chambers. Mr. Neville stated that he does agree that there is benefit to having video evidence of the hearing. He does feel that the setting currently allows for a better dialogue. Mr. Murray (audience member) stated that last night was a primary example of what can go wrong, he spoke to the appeal brought before Council and stated the questions were addressed by video evidence. Mr. Neville stated that he would like to explore the option as opposed to making a motion right now. Ms. Colvert stated that she supports videotaping etc., however she does not want to sacrifice the roundtable setting. Mr. Bennett stated that this would be a healthy thing for the Board as well as for the Public that may not of the Board’s existence. Mr. Shonkwiler withdrew the motion and Mr. Neville will explore any future options.

Motion to adjourn by Ms. Palermo, second by Mr. Shonkwiler.

Meeting adjourned at 1:00pm

Next meeting will be held May 28, 2014


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 2014 Meetings

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July 23, 2014
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