csuralogov2
MEETING

MARCH 26, 2014

AGENDA

Date:

March 26, 2014

Time:

11:00 a.m.

Place

City Hall – Pikes Peak Room

107 N. Nevada Ave., Third Floor

Colorado Springs, Colorado 80903

Agenda:

1.

Approval of February 26, 2014 CSURA meeting minutes

2.

Approval of Financial Report as of February 28, 2014 – Carrie Bartow

3.

City for Champions Draft Resolution Discussion – David Neville

4.

Economic Opportunity Zones Overview:
South Academy Blvd. – Tiffany Colvert, Merv Bennett
North Nevada Ave. – Jim Rees, Wynne Palermo

5.

Quarterly Report – Jim Rees

6.

Annual Meeting & Election of Officers schedule - Board

7.

Election of Officers (pending #6) - Board

8.

Gold Hill Mesa Design Standards Amendment–European Eclectic Architectural Style – Jim Rees

9.

Downtown Review Board Representation – David Neville

10.

Other Matters

11.

Adjournment

MINUTES OF THE REGULAR MEETING OF THE

URBAN RENEWAL AUTHORITY

OF THE CITY OF COLORADO SPRINGS

HELD ON WEDNESDAY MARCH 26, 2014

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:

COMMISSIONERS:

Merv Bennet

Tiffany Colvert

David Neville

Wynne Palermo

Jim Raughton

Robert Shonkwiler

Also in attendance:

Dan Hughes

CSURA Legal Counsel

Jim Rees

CSURA Staff

Lisa Valverde

Carrie Bartow

CliftonLarsonAllen, CPA

Peter Wysocki

ITEM 1 – APPROVAL OF THE FEBRUARY 26, 2014 MEETING MINUTES

Motion by Mr. Bennett, second by Mrs. Palermo to approve the February 26, 2014 meeting minutes.

Motion Carried 6-0

ITEM 2 – APPROVAL OF FINANCIAL REPORT

Ms. Bartow reviewed the financial reports as provided in the packet.

Mr. Neville inquired if the Lowell is closed out will we be seeing it again. Ms. Bartow stated no, the project has since been closed out.

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

Motion Carried 6-0.

ITEM 3 – CITY FOR CHAMPIONS RESOLUTION DISCUSSION

Mr. Neville explained the resolution is up for discussion but not for a vote. Mr. Bennett stated that there have been some changes made to the memo and there is an additional draft out there. Mr. Rees and Mr. Neville stated that they have not seen a draft that has been revised since the one that is included in the packet. Mr. Neville stated this version was reviewed several weeks ago with City staff, Ms. Bartow, and several City Attorneys, and was unaware there was an additional draft

Mr. Raughton inquired if terms will be negotiated with the EDC for funding to support additional URA staff or overhead costs that result from the administration of the contract. Mr. Neville stated yes that those costs have been included; he referenced Section 3 Page 5 of the resolution.

Mr. Bennett inquired if there are penalties for the “financing agents”, meaning the URA Board and has this been discussed. Mr. Neville stated that it will be discussed. Mr. Bennett inquired of the annual audit report and who will be paying for that. Ms. Bartow stated that these things are done annually now and will be included to a point by Ms. Bartow’s firm. Mr. Rees stated that there will be the need for additional consultants and that too will be discussed, however, those costs are covered within the resolution as well. Mr. Bennett inquired if an analysis has been done to see what the cost of C4C will be annually. Mr. Neville stated no it has not been discussed. Mr. Rees stated that the Board doesn’t have the resources to cover these costs up front. Mr. Rees stated that there will be a period in time in the early stages of the project where costs are incurred, and there is not the funding coming in from the state tax increment to cover them, and is concerned as to what happens then. Mr. Bennett referred to page 12 and the independent contracts. Mr. Bennett also referred to page 13 and wanted assurance that this too has been discussed. Mr. Bennett stated that he is concerned over the Board’s potential financial liability. Mr. Neville stated he does not feel that it is going to be something that is going to occur and Ms. Bartow agreed that there should be funds available to pay the Authority’s expenses from the tax increment

Mr. Bennett inquired of section C on page 13 and inquired if there needs to be a reserve fund. Ms. Bartow stated that there is no reserve built into the resolution. Mr. Raughton stated that he does feel that a reserve fund is a good idea. Mr. Shonkwiler commended Mr. Neville’s time and also wants to hear from Mr. Hughes and inquired if he is comfortable with the resolution set before the board today. Mr. Hughes stated that he is comfortable with the Resolution. Mr. Raughton again stated that he would still like a reserve fund to be considered because he feels it will be a backstop against an unlikely situation. Ms. Bartow stated a caveat to the reserve fund will need to mention in the resolution so that the fund won’t be wiped out in totality. There will most likely be a need for a Special Meeting in April to vote on this Resolution as it is supposed to be completed by April 15th. Mr. Shonkwiler inquired of the Board’s ability to approve the final draft. Mr. Neville stated that he has to sign the resolution but that he will not be signing until the Board is comfortable. Mr. Neville also stated that he has received comments, these were distributed. (Exhibit B) Mr. Neville just wanted to bring attention to these documents for the Board’s information. Mr. Neville stated the URA will be locked in as the Financing entity, and should any changes come forth he will discuss with the Board.

Mr. Shonkwiler inquired if Mr. Hughes has comments. Mr. Hughes stated that his comments and concerns echo Mr. Neville’s and he feels comfortable with the responsibilities and liabilities. Mr. Rees inquired if Mr. Hughes thought there is need for a separate Memorandum of Understanding (MOU) between CSURA and the City. Mr. Hughes stated yes, he believes that to be a good recommendation. Mr. Shonkwiler suggested adding additional wording to Section 3 stating there will need to be an issuance of an MOU to further define and make the resolution more practical. Ms. Palermo stated that she would like to see the wording for the MOU added into the Resolution as well. Mr. Bennett stated that he has additional concerns. Would there be value in putting together a formal budget and in dealing with the RTA. For three of the entities it will be completely clear, however the Sports Stadium will take a lot more time and questioned the need to see how much time the Board will have to spend on that venue. Mr. Neville stated yes, he feels the Board will need to get a feel for how much effort will need to be placed with the Sports venue in particular. Mr. Neville stated a major question is how the Arena will be structured. Mr. Bennett stated that he’d like to see a projection. Mr. Shonkwiler stated that in doing even the projection, there is an obvious cost to the Authority. Mr. Raughton inquired as to what Pueblo and Aurora’s costs are and can we compare them. Mr. Rees stated that there aren’t clear costs at this point in time either. Mr. Neville stated that most of the costs shown on those cities’ websites are mainly RTA grant preparation costs. Mr. Raughton suggested using the costs for those cities as a guideline. Mr. Rees will be in touch with those cities to use them as an experience and guideline.

Mr. Neville poled the Board as to their ability to attend a Special Hearing in April. Several members were going to be traveling.

The issue of voting by phone was brought up, Mr. Hughes stated that his legal opinion is no phone votes should be allowed.

Ms. Colvert inquired of the semi-annual meetings required by the resolution and is the Board’s presence required or will Mr. Rees’ attendance suffice. Mr. Rees stated he will be the Board’s representative during those meetings.

ITEM 4 – ECONOMIC OPPORTUNITY ZONES OVERVIEW

Mr. Rees stated that the Mayor appointed 2 task forces for South Academy Blvd and N. Nevada Avenue. Mr. Bennett and Ms. Colvert were Co-Chairs for the Academy task force and Mr. Rees and Ms. Palermo sat on the N Nevada Avenue task force.

Ms. Colvert stated the task force reviewed Academy from Maizeland to Milton Proby Parkway. She stated the impact on the URA will be minimal. She has a full copy of a report, and she will email to the other Board members. The purpose of the report was to give developers and the City ways to improve the area. She gave the example of the senior citizen home that was relocated to Garden of the Gods and the travel time via public transportation, and the task force recommended an improved public transportation among other improvements. Ms. Colvert also discussed the lack of Community in that area and referenced the south. YMCA that was built only by people living in that zip code and to date that is the only YMCA that hasn’t been vandalized. Mr. Shonkwiler inquired of the accompaniment of Mr. Schueler’s Great Streets program and Ms. Colvert stated yes that plan was the kick start for the task force. There are some satellite programs that are currently in process. Mr. Shonkwiler inquired of the Citadel area. Ms. Colvert stated that there was the recommendation to make Portal Dr. full access to link both the Citadel and Citadel Crossing. Mr. Bennett stated there was a lot of talk of repurposing the abandoned big box retail projects and possibly repurposing for senior citizen activities. There were several issues and ideas discussed by the task force to create programs that will improve the area. One critical portion that was discussed was to get the City established with a grants manager, to go out and seek money that is already in existence. The recommendation of a project manager was also brought forth to the Mayor so that the report and recommendations can be accomplished.

Mr. Shonkwiler inquired of the Portal Dr. access to Citadel Mall. He stated that he met with Kathleen Krager and she stated that there were other options that included moving the traffic marking lines from one side or the other. Ms. Colvert stated that currently the plan is being discussed between Ms. Krager and her engineers.

Mr. Raughton commended both Ms. Colvert and Mr. Bennett. Mr. Rees has a copy of the report and will forward to the rest of the Board.

Mr. Raughton brought up the suggestion of perhaps using the URA solely for the Commercial areas. Mr. Bennett stated that the citizen’s that reside in that area had concerns and the majority did not want the area to be considered a blight area.

Mr. Rees spoke to the N. Nevada Improvement task force via a handout. There is a PowerPoint and Mr. Rees will send that out to the Board as well. He feels that there are several parcels that can be redeveloped, including the dog track and the old K Mart site.

Mr. Wysocki stated the current Nevada Traffic Plan has Nevada Avenue designed as a 6 lane road, however the task force feels that it shouldn’t encompass more than 4 lanes.

Ms. Palermo stated that there was a lot of work accomplished through the task force and the University will have a strong support system.

Mr. Neville inquired if there will be additional work for the URA. Ms. Palermo stated yes there is work for the URA but nothing has been identified specifically.

Mr. Shonkwiler inquired of potential housing sites for the University. Ms. Palermo stated yes that was all reviewed and the taskforce felt that commercial uses would be key to that area.

Mr. Shonkwiler stated that he feels if public transportation was improved in that area, it would greatly improve the area as a whole. Ms. Palermo stated that the taskforce felt if the corridor could be improved the areas surrounding would follow.

Mr. Raughton stated that it seems to make sense to expand from Mark Dabling to Cascade, north of Fillmore and it looks like an opportunity to extend the corridor improvement focus to that area.

Mr. Rees will also distribute copies of the N Nevada task force report to the Board as well.

ITEM 5 – QUARTERLY REPORT

Mr. Rees reviewed the report via the handout located in the packet.

Mr. Neville inquired of the funding received and how and when is it being paid.

Ms. Bartow explained that the Vineyard project is paid annually by the developer, the Copper Ridge project will be received based on sales tax increment revenue.

Mr. Shonkwiler inquired of the Vineyards project. Mr. Rees explained that he has received a development schedule from the developer to undertake the first data center building in 2014 -2015.

Mr. Raughton inquired of the Nevada Avenue design guidelines and have they been approved. Mr. Wysocki explained that the guidelines have not been formally approved; however there was a technicality that postponed the item to the April 8th Council hearing. Mr. Bennett stated there were issues brought forth regarding the reason that there are only design guidelines for Nevada Avenue and not the rest of the City. Mr. Wysocki stated that he will address Council’s issues in the memo he will be submitting to Council for the 8th of April.

Ms. Palermo inquired of the status of City Auditorium and City Gate projects. Mr. Rees stated that the projects will probably be reviewed under C4C. Mr. Rees stated that Chris Jenkins, Nor’wood is currently beginning work with a consultant team on the design of the project, and once we find out the density requirements we can move forward with determining the potential tax increment within the URA area.

ITEM 6 – ANNUAL MEETING AND ELECTION OF OFFICERS SCHEDULE

Mr. Neville stated that the board is currently looking at some additional liability insurance. The cap before was 2 million, however now costs for $4 and $5 million are being gathered. A small discussion regarding the lawsuit in Aurora ensued, and the outcome was to ensure the board is cautious moving forward.

Mr. Neville stated that the appointments for the three new members were postponed until the April 8th City Council meeting, however one candidate was present and introduced. The Board welcomed Ms. Valerie Hunter.

A special meeting date will be scheduled in the near future to discuss and approve the C4C resolution if necessary.

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

Meeting adjourned at 12:55.

Next meeting will be held April 23, 2014

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