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HomeMy WebLinkAboutEconomic Advisory Board - MINUTES - 02/19/2025 2/19/2025– MINUTES Economic Advisory Board REGULAR MEETING Wednesday, February 19, 2025 – 4:00 PM 215 N Mason, EOC, or Microsoft Teams 1. CALL TO ORDER: 4:00 PM 2. ROLL CALL a. Board Members Present – • Braulio Rojas (Chair) • Erin Gray (Vice Chair) • Tim Cochran • Chris Denton • Val Kailburn • Richard Waal • Renee Walkup b. Board Members Absent – • Denny Coleman • Thierry Dossou c. Staff Members Present – • Tyler Menzales, Sr. Manager Economic Health Office • Katherine Bailey, Program Manager, Utilities • Andy Smith, Redevelopment Manager, URA d. Guest(s) – • Joshua Leshan • Halee Wahl, Chamber of Commerce Advocacy Specialist 3. AGENDA REVIEW No changes. 4. PUBLIC PARTICIPATION Joshua Leshan has applied to be on the board. Halee Wahl is with the Chamber of Commerce as their Advocacy Specialist. They both introduced themselves. 5. APPROVAL OF MINUTES – JANUARY 2025 Waal made a motion, seconded by Denton, to approve the minutes of the January -- 2025 meeting. The motion was adopted unanimously. 7-0 2/19/2025– MINUTES 6. NEW BUSINESS a. Presentation and Discussion – Building Performance Standards Katherine Bailey, Utilities Program Manager, stated Building Performance Standards (BPS) is the single most powerful direct policy action the City can take to advance its greenhouse gas emissions reduction goals. She noted there are many benefits to building performance standards : environmental, physical, and economic. Bailey noted the Building Performance Standards policy does not include an electrification requirement. Bailey stated the policy includes a number of safety nets to prevent anyone from having to do the unachievable, including a cap on the maximum amount of energy reduction at 15% for smaller buildings and 25% for larger buildings. She provided examples of various sizes and types of buildings in Fort Collins that have reduced their energy consumption. Bailey outlined community concerns with the BPS policy and discussed various implementation and policy levers that can be adjusted to assist building owners in implementing the policy. She noted staff presented various changes to the policy to Council, including changing the timeline, the target, or the covered buildings list, and she discussed the impacts to energy conservation with each of those changes. Bailey noted Council did not opt to push back the timeline, but also opted not to adopt the policy at this time. A Board Member noted there is an opportunity cost to carbon emissions and the sooner BPS are adopted, the sooner the Our Climate Future goals can be met. A Board Member asked about the contribution of BPS specifically to the reduction goal. Bailey replied 3% of the remaining progress to the reduction goal comes from BPS specifically, which is much greater than any other unique pathway. Bailey stated BPS has two different overall city-wide costs: $185 million being the community cost projections directly associated with the local policy and $226 million of impact not directly from the local policy. Additionally, she noted efficiency is the lowest hanging fruit in greenhouse gas emission reductions as it is cheaper to save electricity than it is to build new generation. Bailey outlined next steps including case studies and a report back to Council in five months. Members discussed the importance of return on investment for building owners. A Board Member noted deducting the necessary investments from taxes can be used as an additional incentive. It was noted that different tax rules apply depending on how a business is incorporated. 2/19/2025– MINUTES Bailey noted staff is recommending a staggered implementation with municipal buildings already being covered , then moving to larger buildings followed by smaller buildings. She also noted that the program, as it is regulatory in nature, will have violations or citations associated with non-compliance. A Board Member asked if staff has considered partnering with some of the businesses that have voluntarily made energy efficiency updates to help the City. Bailey replied staff has considered those types of partnerships and would like to do a robust case study to provide examples to other business owners. (**Secretary’s Note: The Board took a brief recess at this point in the meeting.) b. Presentation and Discussion – Urban Renewal Authority North College Activity Andy Smith, Redevelopment Manager, stated the Urban Renewal Authority (URA) is a distinct governmental agency, though Fort Collins City Council appointments most of the Board Members as well as declares and approves urban renewal plans. He noted the Fort Collins URA was started in 1982 but was relatively quiet as a tool until about 20 years ago. He stated the function of a URA relates to removal, mitigation, and prevention of blight, and he discussed the various factors that make an area blighted. Smith outlined the URA’s strategic plan which relates to bringing together the tax collecting entities with private partners to make investments that either would not occur without assistance from the URA, would not be as effective without assistance from the URA, or take a longer period of time without that assistance. Smtih discussed tax increment financing which is the funding source for urban renewal projects. Smith commented on the formation of a plan area and noted the Fort Collins URA has three: North College, Midtown, which includes two TIF districts, and College and Drake. The North College Plan Area started in 2004 and currently has a fund balance of approximately $9 million. He noted past projects in the Plan Area have included the Lyric, Jax, and the King Soopers Marketplace. Upcoming projects include the purchase of the blighted Albertson’s building, the purchase of a public nuisance ordinance motel, support of 302 Conifer, a middle-income housing project, and support of a new bike and pedestrian crossing near the Innosphere. Smith outlined the community engagement process that was undertaken in the North College area and which led to a community investment plan that identified three main goals for investments: a complete and vibrant neighborhood, a community hub for and by the Hispanic and Latino neighborhoods, and infrastructure improvements. Smith discussed the former Albertson’s building and noted the URA has put 2/19/2025– MINUTES the building under contract for purchase with a willing seller, who was notified that eminent domain was going to be used if necessary. Smith stated the slate of uses for the site has yet to be determined, but will include the desired community hub. Smith discussed the 302 Conifer project which will include 76 units of low - to moderate-income deed restricted housing. He stated the URA is planning to invest $3.2 million into the project as a loan . Smith stated the URA also currently has the Budget Host motel property under contract with a willing seller. He noted the property has been through the public nuisance process several times and is a known entity for criminal activity. Smith stated ten rooms in the motel have been flagged due to methamphetamine contamination and if proper remediation cannot occur, the building will be demolished. Smith outlined the Vine and Jerome intersection improvements which will involve a partnership with the DDA. He also briefly discussed the Drake and College Plan Area, which involves the new King Soopers site and the former Spradley Barr car dealership site, and the Prospect South Plan Area, which includes a new student housing project coming online in the fall of 2026. Smith discussed the alignment of the URA priorities with Council priorities, including operationalizing City resources to build and preserve affordable housing and promoting the 15-minute city concept. Members commended the presentation and work of the URA. Board Member Cochran asked what happens to repayments or remaining funds following the end of tax increment collection. Smith replied a special fund will be created that allows the URA to operate the plan area; however, any obligations to projects will end as soon as tax increment revenues are no longer collected. 7. UNFINISHED BUSINESS None. 8. BOARD MEMBER REPORTS 9. STAFF REPORTS • New Board Members will start in April 10. OTHER BUSINESS a. Vice Chair Discussion • Gray is not seeking a second term; advice has been given for a Chair and Vice 2/19/2025– MINUTES Chair nomination process to occur in May with an interim Vice Chair being appointed in the meantime. Members decided to make that interim appointment at the April meeting. 11. ADJOURNMENT a. (6:05) Minutes approved by the Chair and a vote of the Board/Commission on 03/19/2025