csuralogov2
MEETING

December 16, 2015

AGENDA

Date:

December 16, 2015

Time:

11:00 a.m.

Place

City Hall – Pikes Peak Conference Room

107 N. Nevada Ave, Second Floor

Colorado Springs, Colorado 80903

Agenda:

1.

Approval of November 18, 2015 CSURA minutes

2.

Approval of the Financial Report as of November 30, 2015 – Carrie Bartow

3.

Citizen Comment

4.

Gold Hill Mesa Commercial Area Development Agreement– David Neville

5.

South Nevada Avenue Cooperation Agreement (continued from 11/18/15) – David Neville

6.

South Nevada - Ivywild Development 1 LLC Development Agreement – David Neville

7.

South Nevada - The Equity Group LLC Development Agreement – David Neville

8.

South Nevada - Harder Diesslin Development Group Development Agreement – David Neville

9.

CSURA Appointment to the Olympic Museum Finance Committee – Wynne Palermo

10.

HB15-1348 Update – Wynne Palermo

11.

Other Matters

Adjournment

The next regular Board meeting of the CS Urban Renewal Authority Board will be held on January 27, 2016.

Copies of the Board agendas, minutes and audio recordings are posted on the Colorado Springs Urban Renewal Authority website.

Documents:

1.1

CSURA Meeting Minutes 11-18-15 draft

Open PDF

2.1

Financial Report 11-30-15

Open PDF

2.2

INTERIM CHECKS_2015

Open PDF

5.1

South Nevada Avenue Cooperation Agreement and Resolution

Open PDF

10.1

HB 1348 120815

Open PDF

10.2

HB 15-1348 Tech Committee 12-4-15 notes

Open PDF

Audio:

December 16, 2015 Transcript

THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY

HELD ITS REGULAR MEETING ON WEDNESDAY

DECEMBER 16, 2015 AT CITY HALL, PIKES PEAK ROOM

107 NORTH NEVADA AVENUE, COLORADO SPRINGS, CO 80903

In attendance were:

COMMISSIONERS:

Merv Bennett

Tiffany Colvert

Valerie Hunter

Zachary McComsey

Wynne Palermo

Nolan Shriner

Peter Scoville

Jim Raughton

Absent:

Robert Shonkwiler

Also in attendance:

David Neville

CSURA Legal Counsel

Carrie Bartow

CliftonLarsonAllen, CPA

Jim Rees

CSURA Executive Director

Dean Beukema

CSURA Staff

Bob Cope

City Economic Vitality

Citizens in attendance:

See attached sign-up sheet

Chair Wynne Palermo called the meeting to order at 11:00 a.m. and rearranged the agenda to move Item 9 CSURA Appointment to the Olympic Museum Finance Committee discussion after Item 3 Citizen Comment.

Item 1 – Approval of the November 18, 2015 CSURA Meeting Minutes

A motion was made by Commissioner Merv Bennett, seconded by Commissioner Jim Raughton to approve the meeting minutes of November 18, 2015. The motion carried 7-0.

Item 2 – Approval of the Financial Report as of November 30, 2015

Ms. Carrie Bartow, CliftonLarsonAllen, CPA reviewed the monthly revenue and expenditures report as of November 30, 2015 including the property tax received from each Urban Renewal Area as well as the check register as provided in the packet. Ms. Carrie Bartow announced the Department of Revenue had emailed her and they will be sending a check for $2,167,943.91 related to C4C today.

Commissioner Zachary McComsey entered the meeting.

A motion was made by Commissioner Jim Raughton, seconded by Commissioner Merv Bennett to approve the Financial Report as of November 30, 2015. The motion carried 8-0.

Item 3 – Citizens Comment Period

Ms. Deborah Stout-Meininger voiced her concerns regarding spending of the city sales tax fund that she stated funds the Urban Renewal Authority. Exact comments can be heard on the December 16th Board meeting audio on the CSURA website.

Item 9 – CSURA Appointment to the Olympic Museum Finance Committee.

Chair Wynne Palermo stated that Commissioner Valerie Hunter had volunteered to serve as the CSURA board representative on the Olympic Museum Finance Committee.

A motion was made by Commissioner Merv Bennett, seconded by Commissioner Tiffany Colvert to approve the appointment of Commissioner Valerie Hunter as the CSURA board representative to the Olympic Museum Finance Committee. The motion carried 7-0.

Item 4 – Gold Hill Mesa Commercial Area Development Agreement

Mr. David Neville presented the Gold Hill Mesa Commercial Area Development Agreement. Commissioner Merv Bennett stated that the City Council did not approve the full 2% Tax Increment Financing (TIF) at the regular council meeting on December 8th.

A motion was made by Commissioner Jim Raughton, seconded by Commissioner Merv Bennett to approve:

A RESOLUTION OF THE COLORAO SPRINGS URBAN RENEWAL AUTHORITY APPROVING THE URBAN RENEWAL AGREEMENT FOR DEVELOPMENT OF GOLD HILL MESA COMMERCIAL URBAN RENEWAL PROJECT URBAN RENEWAL PLAN AREA BETWEEN THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY AND GOLDEN CYCLE INVESTMENTS, LLC IN CONNECTION WITH THE GOLD HILL MESA COMMERCIAL URBAN RENEWAL PROJECT URBAN RENEWAL PLAN.

The motion carried 7-0 with Commissioner Nolan Schriner recused from the vote with a conflict of interest.

Item 5 – South Nevada Avenue Cooperation Agreement (continued from 11/18/15)

Commissioners Valerie Hunter and Tiffany Colvert recused themselves from the discussion and vote with a conflict of interest and left the meeting.

Mr. David Neville presented the South Nevada Avenue Cooperation Agreement.

A motion was made by Commissioner Jim Raughton, seconded by Commissioner Merv Bennett to approve:

A RESOLUTION OF THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY APPROVING THE COOPERATION AGREEMENT BETWEEN THE CITY OF COLORADO SPRINGS, COLORADO AND THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY IN CONNECTION WITH THE SOUTH NEVADA AVENUE AREA URBAN RENEWAL PLAN.

The motion carried 6-0.

Commissioner Merv Bennett left the meeting.

Item 6 South Nevada – Ivywild Development 1 LLC Development Agreement

Mr. David Neville explained the difference between the three South Nevada agreements they would be approving today. Mr. David Neville explained that there are three distinct areas of South Nevada that are being developed. Each of the Exhibit A’s for the three South Nevada agreements will be different as they will pertain to just that developers parcels. Each developer will get the tax increment which is generated from that developer’s development.

Mr. David Neville presented the South Nevada – Ivywild Development 1 LLC Development Agreement.

Mr. John Kim, whose family anchors the southern portion, stated they would like to compliment what is going on and that they want to do their part in making the area look nice. They would like clarity on what affect the development agreement being put into place now affects the Tax Increment Financing (TIF) and do they have access to any of the (TIF). Also, how is the base set as one of their tenants will be moving from their area to another and the affect it will have on them.

Mr. David Neville stated that flexibility is built into the agreements and that the base has now been set, the plan adopted, and the cooperation agreement adopted. Mr. Jim Rees stated that the base applies to the entire urban renewal area not just one individual property. Discussion followed.

A motion was made by Commissioner Peter Scoville, seconded by Commissioner Zachary McComsey to approve:

A RESOLUTION OF THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY APPROVING THE URBAN RENEWAL AGREEMENT FOR DEVELOPMENT OF THE SOUTH NEVADA AVENUE AREA URBAN RENEWAL PLAN AREA BETWEEN THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY AND IVYWILD DEVELOPMENT 1, LLC IN CONNECTION WITH THE SOUTH NEVADA AVENUE AREA URBAN RENEWAL PLAN.

The motion carried 5 -0.

Item 7 – South Nevada – The Equity Group LLC Development Agreement

Mr. David Neville presented the South Nevada – The Equity Group LLC Development Agreement.

A motion was made by Commissioner Zachary McComsey, seconded by Commissioner Jim Raughton to approve:

A RESOLUTION OF THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY APPROVING THE URBAN RENEWAL AGREEMENT FOR DEVELOPMENT OF THE SOUTH NEVADA AVENUE AREA URBAN RENEWAL PLAN AREA BETWEEN THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY AND SNA DEVELOPMENT LLC IN CONNECTION WITH THE SOUTH NEVADA AVENUE AREA URBAN RENEWAL PLAN.

The motion carried 5 -0.

Item 8 – South Nevada – Harder Diesslin Development Group Development Agreement

Mr. David Neville presented the South Nevada – Harder Diesslin Development Group Development Agreement.

A motion was made by Commissioner Jim Raughton, seconded by Commissioner Zachary McComsey to approve:

A RESOLUTION OF THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY APPROVING THE URBAN RENEWAL AGREEMENT FOR DEVELOPMENT OF THE SOUTH NEVADA AVENUE AREA URBAN RENEWAL PLAN AREA BETWEEN THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY AND EVC-HD SOUTH NEVADA, LLC IN CONNECTION WITH THE SOUTH NEVADA AVENUE AREA URBAN RENEWAL PLAN.

The motion carried 5-0.

Item 10 – HB 15-1348 Update

Chair Wynne Palermo and Mr. Jim Rees gave a brief update on HB 15-1348. The Governor’s special committee has been meeting periodically and is trying to resolve certain financial issues that have resulted from ambiguous language that was added to the state statute. It is anticipated that there will be legislative action taken in 2016 to revise the statute.

Item 11 – Other Matters

Commissioner Nolan Schriner stated that he would be resigning as of February 1,, 2016. Commissioner Zachary McComsey stated that he would be resigning at the end of March 2016.

There being no further business the meeting adjourned.

The next regular Urban Renewal Authority Board Meeting is scheduled for January 27, 2016.

Copies of the Board agendas, minutes and audio recordings are posted on the Colorado Springs Urban Renewal Authority website.

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