HomeMy WebLinkAboutDowntown Development Authority - Minutes - 09/05/1996ddoDOWNTOWN 0
DEVELOPMENT
AUTHORITY
ONE WEST CONTEMPORARY ART CENTER Telephone (970) 484-2020
201 SOUTH COLLEGE AVENUE, FORT COLLINS, CO 80524 Telefax (970) 484-2069
DOWNTOWN DEVELOPMENT ADTRORITY
Regular Directors, meeting
MINUTES OF SEPTEMBER 5, 1996 REGULAR MEETING
The Board of Directors of the Downtown Development Authority
met in regular session at 7:30 a.m., September 5, 1996 in
the conference room at 201 South College Avenue, One West
Contemporary Art Center.
PRESENT There were present:
Stephen Slezak, Chair presiding
Bonnie Bixler Szidon, Vice Chair
Mary Brayton, Secretary
Carey Hewitt, Treasurer
Chuck Wanner
Bill Attwooll
Greg Belcher
Jason Meadors
Lucia Liley, Counsel
Absent:
Kermit Allard
Bud Frick, LPC Liaison
Staff:
Chip Steiner, Consultant
Anne Garrison
Guests:
Brad Page, John Fischbach, Jim Wurtz, Chris Ticnor, Dan
MacArthur
CALL TO ORDER Mr. Slezak called the meeting to order, and entertained a
motion to approve the minutes of August 1, 1996. Mr. Hewitt
moved to approve the minutes as written, seconded by Mr.
Meadors and the motion carried unanimously.
COOPERSMITH'S Brad Page distributed a diagram outlining a rectangular
SILO silo. Landmark Preservation Commission, (LPC) like DDA is
seeking other options.
DDA MINUTES
PAGE 2
Of those presented, LPC prefers the wider silo, painted Old
Town green with Old Town Square and Coopersmith's logos
affixed. The Board's discussion and lengthy questioning
denoted a degree of reservation. The following concerns and
observations were voiced:
• Size of silo dominates due to height of building
• Is there a combustible factor?
• Spillage might encourage a rodent problem
• Feasibility of placing silo inside the building
• How do immediate neighbors view this addition?
Ms. Liley counseled that because we are dealing with public
land we should not approach this as a sale or rental, but
rather in terms of a revokable license. In such instances,
the statute permits the charging of a 'fair rate.' In the
agreement, consideration would be given to maintenance
issues, and the removal of the silo at the end of the term.
Research will be needed to determine a fair value, and it is
possible to prepare the license for a five to ten year term,
with some automatic provisions to revoke with six months
notice.
Mr. Hewitt moved to approve the wider, green structure, with
provisions as outlined by Counsel, and a satisfactory
agreement as to license fee. Mr. Wanner seconded the
motion, with the addition that the license should be tied tc
Coopersmith's lease, so as one is concluded so is the other.
LPC is scheduled to consider this design formally on
September 10, 1996. The Board stated that should LPC's
design approval result in major changes, Mr. Page must
revisit the DDA Board. In the ensuing vote the motion
carried 4-3 in favor of the project.
FRIENDS OF LEE In a brief overview, Mr. Steiner encapsulated the history of
MARTINEZ PARR this strip of land approximately twelve acres in size,
situated on the southwest side of Lee Martinez Park and
currently owned by Trillium Corporation. While it would
seem DDA's position is clear in that residential development
is critical to the success of the central business district,
it is only fair to allow this delegation from the Friends of
Lee Martinez Park (a separate entity from the Neighborhood
Association) a hearing.
Mr. Wurtz and others are searching for an equitable way to
address the development of this property which is home to
many events, and also represents some personal space ."a
park still within the sounds of the city." A $15,000
donation has already been received, but whether or not
raising a further $500,000 is viable is not known. If
purchased by this group, the land would be turned over to
the City for additional park land, and in order that it may
be adequately maintained.
Another option is to ask Trillium for more time, possibly
six months, in order to draw up plans which are acceptable
to the neighborhood and enable a developer to purchase with
confidence and the support of the neighborhood.
DDA MINUTES
PAGE 3
Comments as follows were mixed:
• Open to the residential development of the property if it
is done with sensitivity
• Too many hurdles might prevent a sincere developer from
realizing a reasonable return on his investment
• Feasibility of the Board doing some planning in
partnership with the neighborhood
• Concern that the asking price requires a certain density
in order to realize a satisfactory investment return
• The Board is sensitive to the 'neighborhood's' efforts and
willing to assist insofar as it is meet for DDA to do so
• The Board should signal Trillium that DDA is a player
and hopefully our role would be to facilitate all sides
rather than impede
Mr. Steiner sought direction from the Board, specifically if
the DDA is interested in doing some planning work on the
site in partnership with the 'Neighborhood.' This might
involve a financial obligation in identifying and paying a
site planner in order to develop a plan which is saleable at
the end of the six month period.
Mr. Wurtz clarified the 'Neighborhood's' position by saying
that their preference was to retain the site as part of the
park, but this did not preclude the alternative of a grid
site plan. Mr. Hewitt suggested we approach it from both
sides; create a plan and look into the park option.
Mr. Belcher proposed approaching the owners and asking them
to make a donation by reducing the value of the property,
which would give them a tax benefit in terms of capital
gains liability.
Mr. Wanner feels consideration should be given to a project
such as this. If we are willing to expend $8,000 - $10,000
on a facade, surely this project warrants as much interest.
Mr. Slezak offered that if Trillium, the 'Neighborhood' and
DDA each underwrite one third of the planning costs, we
could come up with something acceptable to all parties.
Ms. Liley interjected to point out that this idea may not
work from a developer's standpoint. No developer is going
to accept a PUD they have not been involved in, and will
want their lead architect to come in and work out all the
considerations, of which we are unaware. The better way
might be to require the developer to come in and take the
lead role, then whatever monies DDA contributes would be
spent getting a planner to review the plans and suggest
revisions as needed from a DDA standpoint. Thus the
developer would put in the time and bear the larger
financial burden, and DDA could feed comments and
suggestions from itself and the 'Neighborhood' to the lead
person.
Mr. Steiner and Mr. Meadors' comments indicated that while
the DDA and the 'Neighborhood' should not simply react,
neither could they dictate, but rather its role needs to be
proactive.
DDA MINUTES
PAGE 4
In answer to Ms. Brayton's request for clarification,
Counsel replied that we cannot legally require DDA's
participation, but from a practical standpoint, it makes
sense for a developer to want to come to some sort of
meeting of the minds with the major players in order to have
something viable at the end. Mr. Steiner then offered to
contact the agent to discuss some of these points.
At this juncture, Ms. Ticnor and Mr. Wurtz indicated a need
to hear from the Board today that it supports the process
suggested, so that in terms of Trillium, they can signal
that entities such as DDA have been contacted and that
should a purchase not be possible, the requested six months
will not be a delay, but a productive outcome for all.
Mr. Wanner then offered that within certain constraints, the
Board would be interested in supporting, and contributing
money toward such a process. If the other three players see
fit to participate, i.e. the City, Trillium and the
'Neighborhood', then we should not put money on the table
today, but rather indicate our intent that within certain
parameters, we would like to become involved. Upon being
asked for a motion, Mr. Wanner moved that DDA write a
resolution or letter of intent saying the Board would like
to indicate our interest in this piece of property which is
deemed crucial to downtown and the Civic Center. That the
Board sees this as important and in the beat interests of
all parties to act cooperatively, in pursuing this in some
sort of creative fashion in the next few months. We further
Invite the owner, the City and the 'Neighborhood' to
participate with us. Mr. Hewitt seconded the motion, and
the vote was in favor with the exception of Mr. Attwooll who
was opposed.
COURTHOUSE
Resolution 96-6 endorsing the Development of the Larimer
RESOLUTION
County Judicial Center on Block #31 was brought before the
Board. Ms. Brayton made a motion to approve, with one
change. This resolution was passed and adopted during a
regular meeting instead of a special meeting of the Board.
Mr. Wanner seconded the motion as amended and the Board was
in favor with the exception of Ms. Szidon who was opposed.
185 N COLLEGE
Ms. Liley reported that the property known as 185 North
College Avenue closed on August 28, 1996. Zachary Wilson is
the new owner having bought out Mr. Serafim Sofias.
HISTORIC F.C.
Ms. Szidon encouraged all who were able to attend a three
DEVELOPMENT
day workshop on Preservation. It will be held on October 1,
CORPORATION
2 and 3, at the Linden Hotel. One of the focuses will be
the Northern Hotel and the cost is $75.00.
CONFERENCE ROOM
The third floor tenant of One West Art Center will soon be
moving to the Plaza level, so once again the conference room
must be relocated. One West Art Center has no money to fund
setting up a functional, more attractive conference room
which would provide the proper business setting for
meetings. Mr. Steiner suggested an option might be for the
DDA to fund the monies needed, and then reduce the payment
of the office lease until the monies were paid back.
DDA MINUTES
PAGE 5
Ms. Brayton moved to direct Mr. Steiner to locate a
permanent site for the Conference Room and to authorize him
to negotiate as he sees fit. She further stated that DBA
should be included as a contributor in this venture. She
asked that he return to the Board accordingly with a
proposal. Ms. Szidon seconded the motion and the Board
voted in favor with the exception of Mr. Slezak who was
opposed.
BOARD RETREAT The Board requested Ms. Garrison to pursue setting up a
retreat at a time acceptable to Board members, possibly in
the month of October.
ADJOURN There being no further business, the meeting adjourned at
9:45 a.m.
Mary Brayton, Secretary
DOWNTOWN 0
DEVELOPMENT
AUTHORITY
ONE WEST CONTEMPORARY ART CENTER
201 SOUTH COLLEGE AVENUE, FORT COLLINS, CO 80524
TO: DDA Board of Director
FROM: Chip Steiner
DATE: September 27, 1996
RE: 1997 Budget Items
4
1. Ooerating Budget.
Telephone (303) 484-2020
Telefax (303) 484-2069
Most of the proposed line items in the 1997 budget reflect modest
adjustments to the 1996 budget. A 3.5 percent cost of living
increase for full time staff is included in personal services.
The Board can adjust and modify the budget as it wishes. It needs
to make some specific decisions in the capital outlay fund.
The original 1996 capital outlay fund had $90,922 in it. Through
a re -appropriation in January, this was increased to $129,922 to
accommodate projects the DDA had committed to but had not paid for
in 1995 and for a one-time pass -through of an enterprise donation.
To arrive at a potential capital outlay fund number please read
through the following sequence:
Beginning 1996 Balance
$129,922
Less paid projects in 1996:
Harmony Mill
(40,000)
Bristol Floral
( 8,500)
Wall Mural
( 2,000)
$ 79,422
Less 1996 Commitments:
200 Walnut Street
(25,000)
350 Linden Street
-(10,000)
$ 44,422
Less projects committed to in
1995 and paid for in 1996:
One -West facade ( 61000)
Lindens (bourbon Street) ( 1.000)
$ 36,822
Less remaining 1995 commitments:
ADI (Old Senior Center) ( 7,000)
Cozzola's (20,000)
$ 9,822
1997 DOWNTOWN DEVELOPMENT AUTHORITY BUDGET PROJECTION
Budgeted
Estimated
Projected
1996
1996
1997
PERSONAL SERVICES
Salaries
25,875
26,325
27,247
Employees Group Life Ins.
145
100
100
Unemployment Compensation
155
125
150
Employee Group Health Ins.
4,275
3,500
4,000
Social Security (FICA)
360
450
500
ICMA
2,380
2,500
2,750
Dental Insurance
0
125
150
Long -Term Disability
310
125
150
Workers Compensation
232
100
125
Termination Pay
0
0
0
33,732
33,350
35,172
CONTRACTUAL SERVICES
Telephone
1,800
2,005
1,800
Postage
200
115
200
Employee Liability Ins.
4,400
6,700
6,000
Mileage
0
0
0
Outside Reproduction
150
150
150
Computer Charges
1,200
1,200
1,200
Maintenance Contracts
0
4,200
4,20.0
Legal Services
10,000
8,000
10,000
Janitorial Services
1,200
800
1,200
Contractual Labor
30,000
24,000
30,000
Marketing (DBA)
5,000
5,000
5,000
Office Rent
8,700
7,500
8,700
Dues/Subscriptions
500
600
700
Other Contractual
1,000
125
500
Meals
0
50
100
64,150
60,445
69,750
COMMODITIES
Office Supplies
300
300
150
Copier Supplies
500
500
500
Coffee Supplies
200
170
200
Other Commodities
0
0
0
1,023
1,023
850
CAPITAL OUTLAY
Improvements
129,922
57,500
228,491
129,922*
57,500
228,491
OTHER
Loan Repayment
38,851
31,585
31,816
Transfer to General Fund
1,569
1,569
0
Contingency
4,000
400
4,000
44,420
33,554
35,816
TOTALS
272,887
185,872
370,079
*This figure includes the re -appropriation
of project
funds in
January, 1996 and therefore does
not agree
with the
$90,922 in
the budget approved by the Board
a year ago.
Net available in 1996 Capital Outlay Fund: $ 9,822
Re -appropriate 1996 committed but unspent
funds 35,000
Re -appropriate 1995 committed but unspent
funds 27,000
Carryforward positive balance from 1996
O&M estimated as follows:
Personal Services Budget: 33,732
Year End Estimate 33.350
Surplus/(shortfall) 382 382
Contractual Services Budget: 64,150
Year End Estimate
60,445
Surplus/(shortfall)
3,705
3,705
Commodities Budget
1,023
Year End Estimate
1,023
Surplus/(shortfall)
0
0
Other:
Contingency Budget:
4,000
Year End Estimate
400
surplus/(Shortfall)
3,600
3,600
Loan Repayment (Linden):
31,585
Year End Estimate:
31.585
Surplus/(Shortfall)
0
0
Total carryforward available:
$ 7,687 7,687
Estimated 1997 Revenues:
Ad valorem tax 149,584
Auto Specific 15,986
Interest earnings 5,000
CDBG Grant 90,000
185 N. College sale 30,000
Total 1997 Revenues 290,570 290,570
Estimated 1997 Expenses:
Personal Services 35,172
Contractual Services 69,750
Commodities 850
Other:
Contingency 4,000
Loan Repayment 31,816
Total Estimated 197 Exp.: 141,588 (141,588)
Net Estimated surplus $148,982 148,982
Total available for Capital Outlay Fund: $228,491
•
L-]
L
Going into 1997, the DDA has available, if the Board chooses to
budget so, $228,491 for capital projects (facades, sidewalks,
etc.). This money breaks out as follows:
Dollars already committed: $ 62,000
CDBG Grant monies 90,000
Unrestricted/uncommitted 76,491
Reviewing the committed funds, the DDA presently has set aside:
Cozzola's
ADI
200 Walnut
350 Linden
$ 20,000
7,000
25,000
10,000
$ 62,000
The status of these four projects is:
Cozzola's--dormant although the pizzeria still owns the
building;
ADI--actively designing project (buffer to parking lot);
200 Walnut --actively marketing the space;
350 Linden --actively renovating.
It seems reasonable to deduce that the funds committed to Cozzola's
will go unused. Therefore, the Board can add that $20,000 to the
unrestricted/uncommitted category if it chooses. The Authority's
commitments to the other three projects should remain in place.
The attached line -item budget reflects a capital outlay of
$228,491. Resolution 96-6 approves the budget and makes the same
recommendation to City Council.
2. Mill Lew.
As noted above, $149,584 in revenues from an ad valorem tax is
generated through a levy of 4.05 mills. Resolution 96-7 recommends
to City Council setting the mill at that level.
3. Debt Service Appropriation
The DDA's outstanding tax increment bonds have a payment obligation
of $1,437,860 in 1997. This obligation is paid for from the
following sources:
Beginning fund balance $2,295,644
Tax Increment funds (estimated) 914,928
Investment earnings 100,000
$3,310,572
Resolution 97-8 recommends to City Council the payment of the
$1,437,860 TIF debt obligation for 1997.
RESOLUTION 96-7
OF THE BOARD OF DIRECTORS OF THE
FORT COLLINS DOWNTOWN DEVELOPMENT AUTHORITY
APPROVING AND RECOMMENDING TO THE FORT COLLINS CITY COUNCIL
THE BUDGET OF THE ESTIMATED AMOUNTS REQUIRED TO PAY THE
EXPENSES OF CONDUCTING THE BUSINESS OF THE
DOWNTOWN DEVELOPMENT AUTHORITY
FOR THE FISCAL YEAR ENDING DECEMBER 31, 1997
WHEREAS, the Fort Collins Downtown Development Authority has
been duly organized in accordance with the Colorado Revised
Statutes 31-25-804, 1973 as amended; and,
WHEREAS, the Board of Directors of the Downtown Development
Authority shall under Colorado Revised Statutes, 31-25-816, 1973
adopt a budget of the estimated revenues and expenditures to be
received and incurred during fiscal year ending December 31, 1997.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF FORT COLLINS,
that the following budget is adopted for the fiscal year ending
December 31, 1997 and therefore recommends to the Council of the
City of Fort Collins the adoption of this budget.
Revenues:
Ad Valorem Taxes $149,584
Auto Specific Ownership Tax 15,986
Investment Interest 5,000
CDBG Grant 90,000
Re -appropriation of unspent
1996 funds 79,509
Undesignated Reserves (proceeds
from the sale of 185 N.
College Avenue) 30,000
TOTAL 370,079
Expenses:
Personal Services $ 35,172
Contractual Services 69,750
Commodities 850
Capital Outlay 228,491
Other 35,816
TOTAL $370,079
Passed and adopted at a regular meeting of the Board of
Directors of the Fort Collins Downtown Development Authority this
3rd day of October, 1996.
Stephen Slezak, Chair
ATTEST:
Mary Brayton, Secretary
RESOLUTION 96-8
OF THE BOARD OF DIRECTORS OF THE
FORT COLLINS DOWNTOWN DEVELOPMENT AUTHORITY
RECOMMENDING TO THE FORT COLLINS CITY COUNCIL
THE DETERMINING AND FIXING OF THE MILL LEVY OF
TEE DOWNTOWN DEVELOPMENT AUTHORITY
FOR THE FISCAL YEAR ENDING DECEMBER 31, 1997
WHEREAS, the Fort Collins Downtown Development Authority has
been duly organized in accordance with the Colorado Revised
Statutes 31-25-804, 1973 as amended; and,
WHEREAS, the Board of Directors of the Downtown Development
Authority approved the 1997 Operations and Maintenance Budget
through passage of Resolution 96-6.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF FORT COLLINS, to
recommend to the Council of the City of Fort collins the mill levy
rate for taxation upon all the taxable property within the Downtown
Development Authority District for the fiscal year ending December
31, 1997 be set at 4.05 mills which is sufficient to raise ad
valorem revenues for the 1997 Operations and Maintenance Budget as
approved by the Fort Collins Downtown Development Authority which
levy represents the amount of taxes for the Downtown Development
District to provide for payment during the ensuing budget year of
all properly proposed demands against the Downtown Development
Authority (however, said mill levy is subject to change based on
assessor's calculations which have not been published at this
time). Said mill levy shall be distributed to general expense,
which levy as so distributed shall be certified by the County
Assessor and the Board of County Commissioners of Larimer County,
Colorado by the City Clerk as provided by law.
Passed and adopted at a regular meeting of the Board of
Directors of the Fort Collins Downtown Development Authority this
3rd day of October, 1996.
Stephen Slezak, Chair
ATTEST:
Mary Brayton, Secretary
E
RESOLUTION 96-9
OF THE BOARD OF DIRECTORS OF THE
FORT COLLINS DOWNTOWN DEVELOPMENT AUTHORITY
RECOMMENDING TO THE FORT COLLINS CITY COUNCIL
THE APPROPRIATION OF ONE MILLION, FOUR HUNDRED THIRTY SEVEN THOUSAND,
EIGHT HUNDRED AND SIXTY DOLLARS ($1 437 860) IN THE
I
DOWNTOWN DEVELOPMENT AUTHORITY FUND TO THE
CITY OF FORT COLLINS SALES AND USE TAX FUND
FOR PAYMENT OF DEBT SERVICE FOR THE FISCAL YEAR
ENDING DECEMBER 31, 1996
WHEREAS, the Fort Collins Downtown Development Authority has
been duly organized in accordance with the Colorado Revised
Statutes 31-25-804, 1973 as amended; and,
WHEREAS, pursuant to Ordinance No. 15, 1983, the Council of
the City of Fort Collins established a special fund consisting of
separate accounts for: (1) operation and maintenance expenses of
the Fort Collins Downtown Development Authority; (2)tax increment
funds received by the Fort Collins Downtown Development Authority;
and (3) project funds consisting of proceeds of bonds, loans and
other forms of indebtedness; and,
WHEREAS, the Council of the City of Fort Collins, in Ordinance
No. 36, 1992 authorized the issuance of Tax Increment Revenue
Refunding and Improvement Bonds Series 1987, dated May 15, 1988,
in the aggregate amount of ELEVEN MILLION THREE HUNDRED EIGHTY
THOUSAND DOLLARS ($11,380,000); and,
WHEREAS, Section 2 of Ordinance No. 95, 1987 provides that tax
increment monies will be pledged to the payment of interest on the
Bonds; and,
WHEREAS, interest on the bonds is due and payable.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT COLLINS DOWNTOWN DEVELOPMENT AUTHORITY that it recommends
to the Council of the City of Fort Collins the appropriation for
expenditure in 1997 from the tax increment fund, the sum of ONE
MILLION, FOUR HUNDRED THIRTY SEVEN THOUSAND, AND EIGHT HUNDRED
SIXTY DOLLARS ($1,437,860) for payment of debt service for 1995 on
the bonds authorized by City Council in Ordinance No. 36, 1992.
Passed and adopted at a regular meeting of the Board of
Directors of the Fort Collins Downtown Development Authority this
3rd day of October, 1996.
Stephen Slezak, Chair
ATTEST:
Mary Brayton, Secretary