HomeMy WebLinkAboutDowntown Development Authority - Minutes - 02/07/1985dOD&NTOWN 0
DEVELOPMENT
AUTHORITY
281 NORTH COLLEGE AVENUE, FORT COLLINS, COLORADO 80524
DOWNTOWN DEVELOPMENT AUTHORITY
Regular Directors Meeting
February 7, 1985
The Board of Directors of the Downtown Development Authority met in
regular session at 7:30 a.m., February 7, 1985 in the Ludlow Room of
the Lincoln Center.
There were present:
Staff:
Also:
Earl Wilkinson, Chairman presiding
Chuck Wanner
Dave McCarry
Ray Dixon
Barbara Rutstein
Dan Larsen
Jim Reidhead
Barbara Schofield
Art March - 8:00 a.m.
Bill Kingsbury, Executive Director
Kathy Field
Chip Steiner
Jody McAfee
Greg Denton
Gene Mitchell
John Bosio
Ron Cappello
Casey Cook
Tim Rubley
Curt Smith
John Arnold
Jim Harmon
Rich Shannon
Jim Woodward
Dick Beardmore
Chairman Earl Wilkinson opened the meeting and called for adoption of
the minutes of January 24. Chuck Wanner, seconded by Dave McCarry, so
moved. There were no corrections or additions.
Bill Kingsbury reported that substantial completion of the garage had
been approved with the exception of the top deck.
(303) 484-2020
PRESENT
MINUTES
GARAGE
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Chip Steiner added that the Authority will withhold $171,500 until
receipt of a written report from the Portland Cement Association and a
written statement from Walker stating that the top deck concrete is
acceptable. Upon receipt of these statements funds will be released
except for approximately $20,000 for remedial work.
Following discussion Dave McCarry moved that a firm bid for repair of
the concrete on the top deck be received and that one and one-half
times that sum be withheld until completion of the repairs. Barbara
Schofield seconded that motion. In a roll call vote Wilkinson,
Wanner, McCarry, Dixon, Rutstein, Larsen and Schofield voted aye.
Reidhead abstained and March was absent.
Bill Kingsbury reported that the contract had been let on the tenant
finish of the office space.
Earl Wilkinson and Art March withdrew and Dan Larsen assumed the chair.
Bill Kingsbury presented the steps involved in finalizing the Cappello
project. These include approving the resolutions requesting Council
to appropriate funds for purchase of the land and other expenses and
issue the tax increment note. The land must then be transferred from
the Russell's to the DDA and from_the DDA to Ron Cappello.
Greg Denton discussed the terms of the addendum to the contract and
indicated that performance and payment bonds required by the DDA of
the developer will ensure the completion of the project.
Casey Cook of Shannon and Associates stated that the firm is very
comfortable with the feasibility of the project.
Jim Reidhead, seconded by Dave McCarry, moved acceptance of the
Addendum as presented with the modifications. In a roll call vote the
following voted aye: Wanner, McCarry, Dixon, Rutstein, Larsen,
Reidhead, Schofield.
Curt Smith presented to the Board for consideration the idea of
providing relocation expenses for the tenants of the Russell
properties. Following discussion, acting Chairman Larsen stated that
staff would get the information necessary to address the problem in
the future and develop policy.
Barbara Schofield moved adoption of Resolution 85-3 issuing Tax
Increment Notes to the Russell's. Jim Reidhead seconded the motion.
The following voted aye: Wanner, McCarry, Dixon, Rutstein, Larsen,
Reidhead, Schofield. Wilkinson and March had withdrawn. Ray Dixon,
seconded by Chuck Wanner moved adoption of the appropriation
resolution, 85-5. The following voted aye: Wanner, McCarry, Dixon,
Rutstein, Larsen, Reidhead, Schofield. Wilkinson and March had
withdrawn.
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Earl Wilkinson and Art March returned to the table
sumed the chair.
Mr. Wilkinson re -
John Arnold noted that City staff is trying to encourage a sound DDA
and retain the City's sound financial status. Jim Harmon discussed
the restrictions resulting from the issuance of the $8.2 million
bond. Curt Smith noted that the Cappello project is relatively
insignificant to the overall financial picture of the DDA. Barbara
Rutstein suggested that a summary memo of the responses to her
questions be sent to Council.
Jim Reidhead withdrew from discussion.
Dick Beardmore reported that the majority of the plaza items can be ac-
cepted as substantially completed provided that Old Town Associates
will provide written confirmation of assumption of maintenance.
Outstanding items include the pavers, planter walls and caps, the
water feature, kiosks, graphics, and architectural concrete. Greg
Denton will draft a letter to Old Town Associates regarding the
maintenance. Dan Larsen requested that the maintenance standards be
put in writing. Gene Mitchell responded that Dean Whiteman would
provide the Board with the maintenance details.
The December pay request for the plaza shows a retainage of $79,000
plus $7,000 in work yet to be completed. Mr. Beardmore requested
direction from the Board on the pay request. Dan Larsen, seconded by
Chuck Wanner, moved that it be paid. In a roll call vote all Board
members voted aye with Reidhead withdrawn.
Dan Larsen requested that the DDA go on record to Council requesting
that improvements downtown be better maintained.
There being no
business, the meeting adjourned.
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CHAIR
,FINANCES
WITHDRAW
PLAZA