HomeMy WebLinkAbout1997 - Downtown Development Authority - Annual Report02/10/98 14:49 FAX 000 221 5058 Z002
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DOWNTOWN DEVELOPMENT AUTHORITY
in 1997, the Downtown Development Authority addressed the following programs and
projects:
. Larimer County Justice Center. It was at the Authority's initiative to
consider participation by the City and the DDA in the development of a
parking garage in conjunction with the proposed Latimer County Justice
Center_ The DDA promoted this partnership because of the importance of
keeping Larimer County offices concentrated in the downtown neighborhood
and because the construction of a new parking facility would significantly
benefit the central business district;
Rand -Scot, Ise. The DDA agreed to provide S30,000± toward facade and
right -of. --way improvements to Rand -Scot, Inc, a manufacturer of living aids
for handicapped individuals. DDA participation helped to ensure that the
company not only stayed downtown but within City limits;
• roudre River. The future of the Poudre River is the DDA's highest priority_
Over the course of the year it heard and gave consideration to planning
updates regarding river developments;
. Co -housing. The DDA gave $32,000 in CDBG funds to the City of Fort
Collins to help in the acquisition of three acres of property at the east end of
Lee Martinez park. This acquisition helped to make possible the development
of a co -housing project along the south side of the park, adding to the slowly
growing inventory of downtown housing options;
. 223 South Howes. The DDA agreed to provide $1,200 toward right-of-way
improvements made to this property. Ultimately, the property was improved
without DDA involvement;
Multi -Modal Transportation Study. The DDA heard updates on this
project (and endorsed the proposal at its February, 1998 Board of Directors
meeting);
• Wal-Mart. DDA discussed this project at some length and reached the
conclusion that it needn't participate in the effort to obtain planning approval_
However, it also concluded that it would not oppose annexation of the project
into the DDA district should the City grant development approval;
Performing Arts Center. Along with the Poudre River, the development of a
new performing arts center is considered to be vitally important to the CBD.
Accordingly, the Authority agreed to provide 50 percent of the funding
($6,500) toward an economic feasibility analysis of the facility. The City and
Colorado Slate University split the remaining 50 percent;
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• 308 South Howes. The DDA provided $1,200 toward right of way
improvements for this property which was redeveloped as the headquarters of
Delta Construction;
• Progressive Old Town Square, The DDA and the owners of Progressive
Old Town Square reached an agreement whereby enterprise zone donations to
the Authority would be used to make extraordinary improvements to the
publicly owned plaza bisecting the project;
• Plaza Canopy. The DDA agreed to provide $10,000 toward the construction
and installation of a canopy over the staging area in the, Old Town Square
Plaza. The canopy will improve the all-weather performance capabilities of
the stage and increase the CBD's viability as a cultural and entertainment hub
in the community;
200 Walnut Street. The DDA agreed to provide $25,000 toward the purchase
of the facade at 200 Walnut Street in return for the complete rehabilitation of
the structure. The building is being restored with Landmark Preservation
Commission oversight.;
Silver Grill Cafe. The DDA agreed to provide $28,000 toward the purchase
of the three facades constituting the front of the Silver Grill Cafe. The facade
is being restored with LPC oversight;
• Patio Licenses. The Authority developed and adopted a set of policy
guidelines governing the granting of patio licenses for Old Town Square;
Financial Commitment Policies. The DDA developed and adopted policies
governing its financial commitments to projects. These policies are meant
primarily to ensure DDA funds are not locked up indefinitely and that they
can be reprogrammed if necessary. The policies also clearly establish that all
DDA financial commitments are subject to re -appropriation procedures by
City Council,