HomeMy WebLinkAboutDowntown Development Authority - Minutes - 02/13/2020DOWNTOWN DEVELOPMENT AUTHORITY
Regular Directors' Meeting
MINUTES of February 13, 2020
The Board of Directors of the Downtown Development Authority met in Regular Session at 7:30 a.m. on
Thursday, February 13, 2020 at Rocky Mountain Innosphere, 320 E. Vine Drive, Fort Collins, CO 80524.
PRESENT
Chris Aronson; Jenny Bramhall; Susan Gutowsky; Dwight Hall; Rebecca Hill; John Kefalas; Bevin Parker;
Jenny Schultz; Mark Williams Cheryl Zimlich
ABSENT
Angel Kwiatkowski
STAFF
Matt Robenalt, Executive Director; Todd Dangerfield, Project Manager; Tom Dent, Technology &
Maintenance Manager; Derek Getto, Project Manager for Policy & Programs; Kristy Klenk, Financial
Coordinator; Bonnie Ward, Administrative Manager; Josh Liley, Legal Counsel
GUESTS
Pat Ferrier, The Coloradoan; David Slivken, Poudre Libraries; Jennifer Poznanovic, City of Fort Collins;
Cynthia Eichler, Visit Fort Collins; and Diane Jones, Formation Group.
CALL TO ORDER
Jenny Schultz called the meeting to order at 7:33 a.m.
APPROVAL OF MINUTES
Rebecca Hill moved to approve the minutes of December 12, 2019; seconded by John Kefalas, the
minutes were approved unanimously.
ALL IDEAS: BIG AND SMALL
Visit Fort Collins: Cynthia Eichler distributed the Visit Fort Collins visitor guide and pointed out the ad
the DDA placed in the magazine. She also displayed where Movie Nights was indicated within the guide.
UPDATES
Sales Tax Report: Jennifer Poznanovic of City Sales Tax presented a brief summary for the December
2019 and January 2020 sales tax reports that were distributed. Matt Robenalt inquired on what the City
was forecasting overall and Ms. Poznanovic that the forecast growth for year end 2019 was a 3%
growth.
DDA UPDATES: N/A
Susan Gutowsky, Council Liaison 970-416-2447
John Kefalas, County Commission Liaison 970-498-7001
Jenny Schultz, Board Chair 970-660-9028
OPERA GALLERIA ATRIUM RENOVATION: PROJECT COMPLETION UPDATE
Todd Dangerfield discussed project details and gave a short visual presentation. With interior
installations substantially completed on December 13, the renovation work was completed in time for
the first public event and followed shortly thereafter by the Winter Farmers Market return to the
atrium.
Outdoor Atrium Renovation: Mr. Dangerfield provided information about the granite paver installation
in front of the entry on College Avenue. It is scheduled to be completed the week of February 17-21st.
This installation was intentionally postponed until after the holiday shopping season to minimize
disruptions for businesses. The sidewalk will have a walk-around detour with ramps off the sidewalk for
ADA accessibility. “Business Open” signs will be placed on each end of the detour. The intention of this
detour and signage is to make sure people are aware that businesses are open during installation of the
new entry pavers.
Remaining Budget and Design Goals: With approximately $22,000 in the project construction
contingency funds remaining in the budget, these funds will be allocated towards the remaining design
goals previously identified for this project. One of those goals are for the installation of custom murals at
several interior wall locations for up to $10,000. Installation of painted fractal mosaics will be
commissioned to mural artist, Barry Q. Lee, a former Fort Collins resident. Some of the themes being
discussed for these multiple murals are the Poudre River, Bike Trail/Trestle Bridge, Opera Galleria
History, and/or Former Strang Grain Elevator located on Mason Street. Up to $3,000 is designated for
the purchase of high-top tables and chairs for small group use. Members expressed concern for the
theft of these items. Mr. Robenalt informed the Board that the chairs and tables on Old Town Square
and other patios on the square have had minimal theft issues and does not see this being an issue for
these items.
Refurbish Tile Accent Band: The tile accent band in the main atrium was to be part of the acoustical
panel design but was too expensive so Mr. Dangerfield found out it can be sanded and painted. A
budget of up to $9,000 is allotted for this improvement.
Jenny Bramhall complimented the project and expressed interest in seeing the space used for a variety
of new programming. Rebecca Hill expressed how happy tenants are in the Opera Galleria and how
there was minimal disruption while construction occurred. Mr. Dangerfield complimented NeuMark, the
general contractor for being very conscious of creating minimal disruption which in return provided very
few comments of concern by the tenants.
140 E. OAK STREET PROJECT UPDATE
Matt Robenalt provided an oral update on the status of the E. Oak Street project partnership with
Housing Catalyst. Legal counsel is continuing work on the Intergovernmental Agreement, which is
expected to be delivered to the Board in March. Mr. Robenalt, Board members, Bevin Parker and Angel
Kwaitkowski along with a Housing Catalyst board member and executive staff participated in a 90-
minute naming process with Toolbox Creative. The next meeting, scheduled for February 19th will
consist of Toolbox Creative presenting a list of naming options and rationale, and a recommended short
list from which this group will select a name.
On Feb 14th Housing Catalyst staff and board member, and DDA staff and board member will be
interviewing 4 of the 14 architecture and engineering firm respondents that submitted response to
design request-for-proposal.
Mr. Robenalt also noted that the DDA will reach the end of its contract with SB Clark, financial
consultant. With the conclusion of that contract, Housing Catalyst will be hiring SB Clark to assist with
the application for the Low Income Housing Tax Credit. SB Clark will provide service to the DDA through
their new contract with Housing Catalyst to assist with one last step to finalize the pro-forma and
finance plan for the commercial space that the DDA will own.
The DDA has been allocating funds for this project for the past 4 years and will be requesting one final
allocation in the March meeting. A few months ago, SB Clark discussed the Cash Gap for the project and
there were two scenarios: a less dense scenario and a denser scenario. As of the middle of 2019, the
DDA felt confident there would be sufficient funds to pursue the less dense option. Now that the final
certification of valuation for 2020 is completed by the County Assessor, DDA revenues for 2020 show
funds large enough to cover the gap for the higher density project option. In March, staff will present
allocation recommendations for the 2020 phase of the5-Year Investment Plan and request that a budget
for the denser project option be assembled. The process of municipal land use entitlement and ability
to fit the project into that site ultimately will determine how many units can be accommodated.
Mr. Robenalt expressed that working with Housing Catalyst has been phenomenal and they are very
excited about being able to embark on an urban scale project.
Commissioner Kefalas asked for Mr. Robenalt to explain the role of the Private Activity Bond allocation
with this project.
Cheryl Zimlich asked to modify future presentation slides to reflect that the DDAs contribution to the
project also includes the land. Darin Atteberry suggested the same relative to indicating the City and
County’s contribution to the project with Private Activity Bond. Mark Williams also recommended to
add a number to represent the market value of the DDA land contribution.
Mr. Atteberry inquired about the Deferred Developer Fee. Mr. Robenalt explained that this fee is a
primary tool for developers of affordable housing, and an intentional component of the Low-Income
Housing Tax Credit Federal program, which allows the developer to recoup costs for predevelopment
activities through reimbursement at various points when the tax credit investor’s equity is placed into
the project.
Susan Gutowsky asked about the timeline of completion. Mr. Robenalt said construction is to start end
of 1st Quarts of end of 2nd Quarter of 2021. Jenny Schultz expressed how impressed she is with Housing
Catalysts methodology, organization and confident that the project will stay on schedule.
POUDRE RIVER PUBLIC LIBRARY DISTRICT UPDATE
David Slivken, Poudre River Public Library District Executive Director, provided an update on the
District’s recently completed 20-year Master Plan along with suggested recommendations. Mr. Slivken
spoke about both the industry’s challenges and opportunities as well as information about the unique
management challenges at the Old Town branch. He also discussed the approaches they are taking to
address these challenges such as working Outreach Fort Collins about 8 to 10 hours a week.
OTHER BUSINESS
No other business was discussed.
ADJOURN
There being no further business the meeting adjourned at 9:12 a.m.
______________________________________
Cheryl Zimlich, Secretary