HomeMy WebLinkAboutDowntown Development Authority - Minutes - 06/19/1986d[M• DICANTOWN �
DEVELOPMENT
AUTHORITY
102 REMINGTON STREET, FORT COLLINS, COLORADO 80524
Regular Directors Meeting
June 19, 1986
The Board of Directors of the Downtown Development Authority met in
regular session at 7:30 a.m., June 19, 1986 in the DDA Conference
Room.
There were present:
Staff:
Also:
Barbara Schofield,
George Betz
Eldon Ward
Bill Friedrichsen
Chuck Wanner
Chairman presiding
Chip Steiner, Executive Director
Jan Martin
Ed Zdenek Dick Beardmore
David Roy Lisa Morrison
Joe Lewandowski Jeanne Abdelnour
Sherry Albertson -Clark Dick Beardmore
Barbara Schofield called the meeting to order and asked for
approval of the minutes of May 15, 1986. Earl Wilkinson moved
for approval, seconded by Eldon Ward.
The first order of business was the appointment of an interim
secretary to replace Barbara Liebler until new officers are elected.
Eldon Ward nominated Earl Wilkinson for this position, seconded by
Goerge Betz. Mr. Wilkinson accepted the nomination and was
unanimously approved.
The next item on the agenda was a discussion of finances. Chip
Steiner stated that he had requested an opinion from DDA legal
counsel Greg Denton whether or not an executive session to discuss
financial matters would be proper. In a letter to Mr. Steiner, Mr.
Denton stated that after reviewing the statutes of the State of
Colorado and the DDA Bylaws relating to Executive Sessions, it was
his opinion that an Executive Session would not be proper.
(303) 484-2020
PRESENT
MINUTES
SECRETARY
FINANCES
r
Chip Steiner informed the Board that staff is seeking direction and
decisions regarding the following:
• Short-term action to ensure continued DDA ability to pursue
economic development
• How to meet upcoming financial commitments such as RP Plaza,
Opera House, Land -Use Plan
• Policy formulation for the future
Discussion followed with the following points being made:
1. The DDA cannot be a bank without having loans repaid.
2. Incurring debt without tax increment puts us in the hole.
Most of these projects have been done with City approval.
3. The DDA does not have a shortfall yet.
4. The DDA needs to get back to generating projects.
5. The lack of development downtown demonstrates the need for
a downtown land -use plan so there is a plan of action for recruiting
future development downtown.
6. The land -use plan and market analysis are necessary to
determine the growth pattern in the downtown.
The Board supported continued work with current projects. The
general consensus was that financial participation from the City
should be the first plan of action with selling assets such as Small
Wonder and the County parking lot coming later. It was decided that
vacation of the southerly lanes of LaPorte needed to be pursued.
Another decision was to restrict spending. Chip Steiner will
prepare a briefing memo for City Council in order to get on the July
8 Work Session agenda to settle the financial status.
In regard to the appropriation of funds for pending projects, it was
suggested that the DDA could enter into a contract with the
developer guaranteeing reimbursement of certain costs associated
with public improvements made in conjunction with the projects
rather than issuing bonds.
Under other business, a letter of resignation was read from Dan
Larsen. His resignation was accepted with regret.
Jeanne Abdelnour was introduced to the Board as the Council nominee
to fill Barbara Liebler's place. She will be confirmed at the July
1 Council meeting.
There being no other business, the meeting was adjourned.
Earl Wilkinson, Secretary
RESIGNATION-
DAN LARSEN
APPOINTMENT-
JEANNE ABDELNC
TO BOARD
ADJOURN
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