csuralogov2
MEETING

NOVEMBER 19, 2014

AGENDA

Date:

November 19, 2014

Time:

11:00 a.m.

Place

City Hall – Pikes Peak Room

107 N. Nevada Ave., Second Floor

Colorado Springs, Colorado 80903

Agenda:

1.

Approval of October 22, 2014 CSURA meeting minutes

2.

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

3.

Citizens Comment Period

4.

Draft 2015 CSURA Budget – Jim Rees, Carrie Bartow

5.

Colorado General Hospital, N. Nevada URA - Tim D. McConnell, Drexel, Barrell & Co.

6.

Executive Session*

7.

Other Matters

Adjournment

* As per CRS 24-6-402(e) Determining positions relative to matters that may be subject to negotiations; developing strategy for negotiations; and instructing negotiators

Documents:

CSURA 10-22-14 Meeting Minutes Draft

Open PDF

Interim Checks Oct 2014

Open PDF

Colorado General Hospital DP 10-01-14

Open PDF

Development Plan Review 11-13-13

Open PDF

Board Report 10-31-14

Open PDF

THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY

HELD ITS REGULAR MEETING ON WEDNESDAY NOVEMBER 19, 2014

AT CITY HALL, PIKES PEAK ROOM

107 NORTH NEVADA AVENUE, COLORADO SPRINGS, CO 80903

In attendance were:

COMMISSIONERS:

Tiffany Colvert

Merv Bennett

Valerie Hunter

David Neville

Wynne Palermo

Jim Raughton

Peter Scoville

Robert Shonkwiler

Nolan Shriner

Also in attendance:

Carrie Bartow

Jim Rees

Peter Wysocki

Audience:

Bill Murray

Tim McConnell

Steve Meier

Jakob Rodgers

Item 1 – Approval of the October 22, 2014 Meeting Minutes

Ms. Palermo requested that the minutes be revised to reflect that Bob Cope was in attendance. A motion to approve the amended minutes was made by Ms. Hunter, seconded by Ms. Palermo. The July 23, 2014 meeting minutes were approved. The motion carried 7-0.

Item 2 – Approval of the Financial Report as of October 31, 2014

Ms. Bartow reviewed the October 2014 financial reports as provided in the packet. There was a $ 138,369 operating cash balance as of October 31. North Nevada sales tax revenue was $2,245,664 through August. The sales tax base will reset in December. The revenue will be sufficient enough to make a partial payment on the principal on the December 1st payment on the senior bonds (principle and interest). No payments will be made on the subordinate bonds and only the interest will be paid on the senior bonds. Mr. Shonkwiler asked to know the amount that the principal payment would be. Ms. Bartow agreed to look it up and report back later in the meeting (The payment will be approximately $291,000 short in December). Mr. Shriner asked if the assessed value on N. Nevada was increasing due to the new development and are we making progress to eventually getting the bonds out of default. Mr. Rees stated that since interest is accruing on the subordinate bonds, it is unlikely that we will catch up without a plan to refinance and change the terms which will require the buy in of the bond holders and City Council. He is working with the underwriter to determine what options might work. The underwriter is working with the bond holders to keep them informed. It is not possible to look at the exact store sales in order to see where the original revenue estimates were inaccurate or was how much is due to a slow build out of the University Village. There continues to be new tenants added to University Village which usually adds to the sales tax increment.

The Ivywild loan interest payment was paid in the amount of $9,227 for the 3rd quarter of

2014, which made the total year to date amount $26,796. The property tax payment in 2015 will be much higher due to the increase in valuation. The Vineyard has paid the second ½ taxes for the year which will cover the remaining administrative fee and leave a balance of $23,463 to be used for project costs. These funds will be kept in an escrow account to be used in the future according to the redevelopment agreement.

The check register for October was presented and discussed by Ms. Bartow. There were no questions asked.

A motion was made by Ms. Colvert and seconded by Ms. Palermo for the approval of the Financial Report and check register. The motion was approved unanimously.

Item 3 – Citizens Comment Period

Mr. Murray stated that he was concerned over the default on the N. Nevada bonds. He wanted to know how much has been collected in 2014 for the bond payment and would there be sufficient revenue to bring the bonds out of default and will it ever be resolved?

Mr. Raughton joined the meeting at this time.

Item 4 – 2015 CSURA Budget

The item was tabled due to lack of information available from the Department of Revenue (DOR) with regards to the amount of sales tax increment than can be anticipated to be received from the State in 2015 from the RTA grant. The DOR may have the information prior to the December 17, 2014 CSURA Board meeting. If that information is not received the budget may need to be modified in 2015.

Item 5 - Colorado General Hospital

The item was presented by Mr. Meier and Mr. McConnell. The proposed hospital will be located on N. Nevada Ave. to the north of the Fellowship Bible Church. This is on the site of the once proposed apartment complex. Mr. Rees explained that he completed a review (review letter to Mr. Tuck in packet) of the proposed development plan and noted areas where the plans do not conform to the North Nevada Ave. Design Standards. Mr. McConnell and Mr. Meier agreed to attend today’s meeting and discuss how the plans will be revised as well as request an exemption from some requirements that they do not believe they can meet. They explained that they are planning to do a resubmittal to the City Planning Department this week. The height has been reduced to two stories and complies with the height limitations. A full story has been removed due to neighbors concerns. The finished floor will be approximately 10’ below the street.

The 11 acre parcel will be split into 2 lots. There is a temporary retention pond on the northern parcel which may go away in a future phase. There are no specific plans for that part of the site at this time. However, the owner may sell off the north lot in the future The number of beds will be now be 24 without room for expansion. The total size will be 58,000 square feet and the zoning is OC which allows the hospital to be built by right. The property will generate property tax increment. Use tax and personal property tax should be significant. Actual sales tax levels are not determined at this time. This will provide an increase in tax increment which can be used to repay bonds. The hospital will employ 100 people. The entitlements are being sought prior to final closing on the property. Mr. Neville stated that the BMW Dealership was the first project to be reviewed for conformance with the design standards. Mr. Rees explained that The BMW Dealership had gone through the design review process and some things requirements were waived by the Board.

No variances are being sought with this project. So, it won’t go to Planning Commission. The applicants have resolved all of the City’s concerns. Mr. Shriner asked if there are any conflicts between City requirements and CSURA design standards. Mr. Meier noted that the city is requiring 6’ wide sidewalks along N. Nevada vs. the 9’ width requires by CSURA. However, the sidewalk can be widened to a 9 foot width to match University Village instead of the 6’ width. Driveway locations do not align with the church access road to the south. This should be OK since there is no cross traffic between the two. The stacking distance to N. Nevada will be better as it is shown since it is further west. The grade will be flattened out to make access better. Mr. Rees concurred with the reasons. The second access to N. Nevada at the north end will be a right in right out as required by the City. A trail connection will be provided down to the creek which will allow for a future connection across the creek where the Greenway trail is located. The design standards state that the pedestrian crosswalk paving should be different at the entrance (across the drive entrance). The board will waive the requirement as it has not been required anywhere else in the corridor. Mr. Shonkwiler inquired if the intersection is signalized and does it have a pedestrian button? Mr. McConnell indicated that it did. Bicycle parking will be added to the front of the building as required by the City and CSURA. They cannot move the building to the east (closer to the street) as requested in the Design Standards and will need to have a driveway around the building for a fire lane and access to the entrance on the east side. It was agreed that the landscaping style should match that of University Village for consistency. No amenities have been indicated (benches, sitting areas, planters, etc.). There will be several benches added to the break area on the west and there can be some benches added at the east entrance to the building. Mr. Shonkwiler noted that UVC has a program with UCCS to create sculpture elements along the ROW of N. Nevada Ave. Mr. Meier will look into adding something like that along the frontage and will contact Kevin Kratt or the university. Construction will start in early 2015 after a closing in mid-January. The applicant agreed that the intersection corner treatments with N. Nevada will match UVC corner plazas (without the concrete benches). The new colored renderings indicated that the north elevation does have a lot of changes in building material, articulation and color. This was not apparent on the black and white plans. The mechanical building is located across the parking lot to the west and is not visible from N. Nevada. There will also be landscaping along the walls to screen it. The rooftop mechanical is completely screened. Signage plans are to be provided as a separate package. Pedestrian lighting along the 9’ sidewalk will be provided to match UVC. The city’s lighting guidelines will be followed which are referred to in the design standards as well. Mr. Neville directed the applicant to write a letter addressing the design standards and where they cannot be met. Most of the concerns appear to have been addressed. Only relocating the building cannot be met. The Board will not requiring the crosswalk material change either as noted above. The driveway intersection alignment will not change either. A motion to approve with the requested waivers for 4.1-3, 4.2-1, 4.2-2, 4.1-12 was made by Ms. Colvert and seconded by Ms. Hunter. The motion carried unanimously.

Item 6 - Executive Session

The Board moved into Executive Session to discuss matters related to setting strategy for contract negotiations. Chairman Neville announced that he would be recusing himself from the discussion and would leave be leaving the room. A Motion to move into executive session was made by Mr. Raughton and seconded by Ms. Palermo. The motion was approved by a unanimous vote. Mr. Neville, Mr. Wysocki and Ms. Bartow left the room.

Item 7 – Other Matters

The Board returned from executive session and Mr. Neville and Ms. Bartow returned. Chairman Neville discussed attendance at meetings and voting with technology remotely (Skype, etc.). The current bylaws do not allow it. Ms. Hunter noted that the bylaws could be changed. Mr. Neville stated that the City Attorney had said at another meeting (RTA Advisory Board) that it would be acceptable to allow members to participate thru video conferencing. Mr. Neville noted that it would be worth exploring now. Mr. Raughton stated that he would like to use the Council Chambers to use the video equipment. Mr. Rees noted that Mr. Bennett had previously indicated that City staff might be able to video the meeting in the Pikes Peak Room. Mr. Shonkwiler thought that it would be good public policy to video records the meetings and that CSURA was subject for criticism. Mr. Shriner and Ms. Hunter disagreed with the use of Council Chambers. Mr. Neville agreed that the entire subject will need follow up discussion at a future meeting.

Mr. Shriner requested a joint DDA - CSURA meeting to discuss the potential overlap in the downtown TIF areas. Mr. Rees will need to schedule this with the Downtown Partnership staff in order to have an open dialogue. Ms. Colvert also offered to provide an update of the Downtown Review Board activities at future CSURA meetings. It was mentioned by Mr. Rees that any changes to the URA that resulted in taking out properties would cause them to be added to the DDA. They are currently paying the DDA mill levy as well.

There being no further business a motion to adjourn was made by M.s Palermo and seconded by Mr. Raughton. The motion was approved. The meeting adjourned at 12:55.

A special meeting to review legal services proposals will be conducted on December 4, 2014

The next regular meeting will be on December 17, 2014.

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Special Meeting June 15, 2017
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Special Meeting April 7, 2017
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January 31, 2012 Special Meeting
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