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HomeMy WebLinkAboutDowntown Development Authority - Minutes - 06/07/2001Larry Stroud, Chair 482-6066 (W) Chuck Wanner, Council Liaison 484-0810 (H) Anne Garrison, Staff Liaison 484-2020 (W) DOWNTOWN DEVELOPMENT AUTHORITY REGULAR DIRECTORS' MEETING MINUTES OF JUNE 7, 2001 REGULAR MEETING THE BOARD OF DIRECTORS OF THE DOWNTOWN DEVELOPMENT AUTHORITY MET IN REGULAR SESSION AT 7:30 A.M. ON JUNE 7, 2001 IN THE CONFERENCE ROOM AT HOME STATE BANK, 303 EAST MOUNTAIN AVENUE, FORT COLLINS, CO 80524 PRESENT THERE WERE PRESENT: LARRY STROUD, CHAIR KIM JORDAN, VICE CHAIR JASON MEAOORS, SECRETARY/TREASURER GREG BELCHER JOHN PITNER CHUCK WANNER RICK GOODALB MARY BRAYTON CAREY HEWITT STAFF JAY HARDY, EXECUTIVE DIRECTOR ANNE GARRISON LUCIA ULEY, COUNSEL GUESTS JOHN FISCHBACH. DAVID SHORT, ANGELA MILEWSKI. BRUCE HENDEE, TOM CHANDLER, Kim S, BONNIE SZIDON, TIMOTHY WILDER, GREG BYRNE. BOB SMITH CALL TO ORDER THE MEETING CAME TO ORDER AT 7.30 A.M. AND ROLL CALL WAS TAKEN. APPROVAL OF MR. BELCHER MOVED TO ADOPT THE MINUTES OF MAY 3, 2001 AS WRITTEN AND MINUTES MR. MEADORS SECONDED THE MOTION WHICH CARRIED UNANIMOUSLY. RESIGNATION AND MR. PITNER TENDERED HIS RESIGNATION TO THE BOARD, FOLLOWING THE SALE OF HIS PRESENTATION PROPERTY AND BUSINESS, J. PITNER CLOTHING. MR. STROUD EXPRESSED THE BOARDS APPRECIATION FOR MR. PITNER'S CONTRIBUTION AND COMMITMENT BOTH TO DOWNTOWN AND THE DDA, AND PRESENTED HIM WITH A PLAQUE LISTING THE PROJECTS COMPLETED DURING HIS TENURE. 1 85 N. COLLEGE MR. HARDY MET WITH MACK ANDERSON IN MAY, AND WHILE THE OWNER ACKNOWLEDGED SIGNAGE SOME LEVEL OF CULPABILITY, HE ASKED IF THE BOARD WOULD ALLOW THE 'TENANT TO SUBMIT A RENDERING REFLECTING CHANGES TO THE EXISTING SIGN, BEFORE STARTING OVER ODA MINUTES PAGE 2 AGAIN. MR. HARDY ASKED IF THE BOARD WOULD CONSIDER THIS REQUEST, AND IN ADDITION, OFFER THE TENANT SOME CLEAR DIRECTION. AFTER SOME DISCUSSION, THE BOARD CONCURRED WITH THE REQUEST. POUDRE RIVER MR. HARDY PROVIDED AN OVERVIEW FOR THE PRESENTATION GIVEN BY TIMOTHY WILDER, ENHANCEMENT WITH RELEVANT COMMENTS FROM PROJECT MANAGER, BOB SMITH. THREE AREAS HAVE BEEN IDENTIFIED AS PRIORITIES FOR THE SECOND PHASE OF THE ENHANCEMENT WHICH COMPRISES PROJECT DESIGN FOR THIS PORTION OF THE RIVER: BANK STABILIZATION (I ST PRIORITY) POUDRE RIVER HABITAT RESTORATION (I ST PRIORITY) POUDRE RIVER TRAIL AMENITIES (2ND PRIORITY) THE RIVER HAS BEEN A MUCH DISCUSSED TOPIC FOR A NUMBER OF YEARS, BUT THE SITUATION IS NOW MORE SERIOUS, IN THAT THE RIVER HAS GROUND THE BANK DOWN TO BEDROCK, AND STABILIZATION MEASURES MUST BE EFFECTED. AT THE SAME TIME, IT IS PLANNED TO RESTORE THE NATURAL HABITAT WITH NATIVE VEGETATION, AND PROVIDE TRAIL AMENITIES. _ MR. WILDER REITERATED THAT DDA'S FINANCIAL AND EMOTIONAL PARTICIPATION IS BEING SOUGHT NOT ONLY FOR THE DESIGN PHASE, SLATED FOR COMPLETION IN DECEMBER 2001 , BUT THROUGHOUT THE ENTIRE PROCESS. IT IS ANTICIPATED THAT CONSTRUCTION FUNDING WILL BE IN PLACE BY 2001 AND THE ACTUAL CONSTRUCTION SHOULD BE DONE BY WINTER 2003/2004. UPON COMPLETION, THIS WILL BOTH EXTEND AND ENHANCE THE DOWNTOWN, AND THE COST WILL APPROXIMATE ONE AND A HALF MILLION DOLLARS, EXCLUSIVE OF THE DESIGN PROCESS. MR. GOODALE THEN MOVED TO APPROVE THE REQUEST FOR MATCHING FUNDS UP TO $60,000. THIS AMOUNT TO BE BORROWED FROM THE CITY OF FORT COLLINS, WITH MR, FISCHBACH'S PERMISSION, AND REPAID WHEN ANNEXATION FUNDS BECOME AVAILABLE. THE MOTION WAS SECONDED BY MR. BELCHER. COUNSEL ADDED THE FOLLOWING CLARIFICATION. THE MOTION SHOULD BE SUBJECT TO DETERMINING THE CONDITIONS UNDER WHICH THESE FUNDS WILL BE BORROWED FROM THE CITY. MESSRS. GooDALE AND BELCHER CONCURRED WITH COUNSEL'S COMMENTS. MR. FISCHBACH STATED THAT IN THE INTEREST OF GOOD BUSINESS A TIME FOR REPAYMENT SHOULD BE SET, HOWEVER, NO INTEREST WILL BE INCURRED BY DDA. THE MOTION CARRIED UNANIMOUSLY. PERFORMING ARTS BRUCE HENDEE, REPRESENTING "IMAGINE FORT COLLINS, " A CITIZEN'S GROUP SEEMNO CENTER/LIBRARY SUPPORT FOR A BALLOT INITIATIVE TO FUND THE CONSTRUCTION OF A NEW PERFORMING ARTS CENTER, LIBRARY, AND EXPANSION OF THE CURRENT FORT COLLINS MUSEUM, ADDRESSED THE BOARD. IN HIS PRESENTATION, MR. HENDEE NOTED THAT THE LINCOLN CENTER, UBRARY AND MUSEUM WERE BUILT IN THE 197US WHEN FORT COLLINS' POPULATION WAS 65,000. NOW THEY SERVE OVER 120,000. THE LINCOLN CENTER IS BOOKED TO CAPACITY AND TURNS AWAY OVER 200 POSSIBLE EVENT DAYS PER YEAR. THE PROPOSED PERFORMING ARTS CENTER WILL COMPRISE TWO THEATRES WITH A SEATING CAPACITY OF 2, POO AND 400 RESPECTIVELY. TO BEGIN THE PROCESS, HOWEVER, OVER 3200 VALID VOTER SIGNATURES ARE NEEDED ON THREE PETITIONS. A .029% SALES TAX OVER THE NEXT TWENTY YEARS WOULD FUND THE PROJECTS, AND TWO PETITIONS TO ISSUE TAX REVENUE BONDS WOULD BUILD THE PERFORMING ARTS CENTER AND UBRARY. THE MUSEUM IS TO BE EXPANDED AS SOON AS ENOUGH TAX REVENUES ARE ACCUMULATED. IN ADDITION, .004% OF THIS TAX WILL BE SET ASIDE TO BUILD AN ENDOWMENT TO FUND THESE FACILITIES FOR THE FUTURE:. THE SITE SELECTED FOR THE PERFORMING ARTS CENTER IS THE SOUTH HALF OF BLOCK 3 1, AND THE LIBRARY IS SLATED FOR DOWNTOWN AT A SITE STILL TO BE DETERMINED. VOTERS WILL BE ASKED TO APPROVE 39 MILLION FOR THE PERFORMING ARTS CENTER, ALTHOUGH THE PROPOSED COST IS APPROXIMATELY 45 MILLION DOLLARS. SIX MILLION IN PRIVATE DONATIONS MUST BE RAISED TO EFFECTIVELY REDUCE THIS AMOUNT. DDA MINUTES PAGE 3 ADDITIONAL PROJECT FUNDING BREAKDOWN IS AS FOLLOWS: • LIBRARY - 100,000 SQUARE FEET - $33,400,000 • LAND ACQUISITION FOR NEW BRANCH LIBRARY - $ 1 , 500,000 • MUSEUM - PROPOSED RENOVATION - $9, 200,000 ALTHOUGH NO FORMAL AGREEMENT 15 IN PLACE, ONE MILLION DOLLARS WIU- BE USED TO CREATE A COMBINED BOX OFFICE WITH COLORADO STATE UNIVERSITY, AND TO EFFECT IMPROVEMENTS TO THE THEATRES THAT THE UNIVERSITY WILL BE BUILDING ON CAMPUS. THE PRESENTATION TODAY WAS NOT TO REQUEST FUNDING, BUT TO OBTAIN SIGNATURES FOR THE PETITIONS WHICH ARE DUE ON JUNE 245, 2001 AND TO RAISE AWARENESS OF THIS IMPORTANT ISSUE. MR. HENDEE ASKED PERMISSION TO RETURN TO THE BOARD AGAIN IN SEPTEMBER. OTHER BUSINESS THE BOARD WAS REMINDED THAT THE NEXT MEETING DATE HAD BEEN CHANGED FROM JULY 5, TO JULY 12. DUE TO THE INDEPENDENCE DAY HOLIDAY. ADJOURN THERE BEING NO FURTHER DISCUSSION, THE MEETING ADJOURNED AT 8:55 A.M. JASON MEADORS, SECRETARY ddoCtWNTOWN � DEVELOPMENT AUTHORITY 19 OLD TOWN SQUARE, SUITE 230 Telephone (970) 484-2020 FORT COLLINS, CO 80524 Telefox (970) 484-2069 To: DDA Board f Directors From: Jay Har Date: July 12, 2 1 J RE: Old Town Square Capital Improvements As outlined in the amended agreement with Old Town Square Properties (OTSP), the DDA agreed to consider a capital improvement match for Old Town Square, up to $12,500 annually. An annual plan must be submitted to the Board following a meeting with DDA staff regarding needed improvements. Included is a letter from Ed Stoner, President of Old Town Square Properties outlining those needs. I have met with Mr. Stoner and I am in agreement that these issues need immediate attention. The capital improvements are as follows: 1. Replace and re -level broken/sunken pavers $10,000415,000 2. Repair/replace pump #1 on fountain $9,000410,000 $19,000425,000 The FY2001 budget included an allocation of $12,500, which has been `set -aside' in the event the Board agrees with this request. DDA would then reimburse OTSP up to 50% of the cost, not to exceed $12,500 total. Old Town ''IHiNiH Square Properties. Inc. May 22, 2001 To: Downtown Development Authority From: Old Town Square Properties Dear Mr. Hardy: First, I apologize for the delay in getting this plan to you for your approval. Up to now, I was tentative on what was important to accomplish this year. In anticipation of the #1 priority, I have taken pictures of the plaza pavers during and after heavy rains. It is obvious that many areas of the plaza have sunk, causing retention ponds within the plaza. In addition, I have met twice with Ken Matejick of Interlocking Pavement Corp. and have and his crew do a test site. The purpose of the test site was two -fold: 1) to check the quality of their work and 2) to see if the cost was reasonable. In my opinion the quality of the work was great and although it was expensive, I believe the value was received. Therefore, I would propose that the majority of sunken areas identified along with areas with broken pavers be removed, recompacted and replaced back to a level condition. The cost to do this could range $10,000 to $15,000, depending on what we (Jay & Ed) do with the NE corner of the plaza, if anything. As you know, the water fountain NW of Scooters (Huckleberry's) has been a problem for the last few years. Three years ago OTSP spent approximately $10,000 to get the water line replaced that had broke 8 feet below the surface. Immediately after we got it working again, vandals stole parts and broke off the foot pedal. After repairing it again, vandals broke the waterline, this time down about 6 feet below service and then took the guts of the fountain. This water fountain is connected to the south water fountain and a water spigot in the planter west of Wildflower. When the Scooter's fountain becomes disabled we have to shut water off for the other two. Therefore, as you previously agreed, I had our maintenance person (Tim) dig out the fountain, cap off the water supply line, refill, compact to standard, and then had Interlocking Pavement Corp. reinstall new pavers. In addition to the above being completed in 2001, pump #1 in the large fountain is not working again. Although I am trying to get McLemore Pump, Inc. to fix it under warranty, I doubt that will be the case. This repair or replacement could be $940 thousand dollars. I have estimated high on both of these projects. However, with your consent I will start getting the work done and keep you informed as to the progress and the expenditures; hopefully costing under what I estimated. R4Stor" b ri E President- Old Town Square Properties. 5 Old Town Square, Suite #216 0 Ft. Collins, Colorado 80524 0 (970) 221-9332 0 Fax (970) 221 -)341 0 wwwoldtownsq.com CtWNTOWN � DEVELOPMENT AUTHORITY 19 OLD TOWN SQUARE, SUITE 230 FORT COLLINS, CO 80524 To: DDA Boaz f Directors From: Jay Haz Date: July 12, 2001 RE: 185 North College Avenue signage (Johnny's Place) Telephone (970) 484-2020 Telefax (970) 484-2069 As discussed at our June meeting, the property owner of 185 North College Avenue will be in attendance to present an altered design of the Johnny's Place sign. ddaAWNTOWN • DEVELOPMENT AUTHORITY 19 OLD TOWN SQUARE, SUITE 230 FORT COLLINS, CO 80524 To: DDA Board f Directors From: Jay Hard Date: July 12, 2 RE: 135 West Oak Street (New location — Jay's American Bistro) Telephone (970) 484-2020 Telefax (970) 484-2069 In April 2001, the property located at 135 West Oak Street was sold to Jay and Jacqueline Witlen, owners ofJay's American Bistro currently situated at 151 S. College Avenue. The Witlen's plan to renovate the building, and relocate their restaurant later this year. The Witlen's have requested that DDA participate in public improvements to the property, in the form of a standard fagade easement. Total project cost of the proposed renovation is estimated at $588,398. The breakout of these costs is as follows: Interior renovation $432,385 (Includes all tenant finish) Exterior renovation (DDA eligible) $123,898 Exterior renovation (non-DDA eligible) $32,115 Total estimated costs $588,398 Included in the project are a few exterior elements, which are not eligible for reimbursement by the DDA. They are as follows: -Trash enclosure (excavation, concrete, masonry & gates) $7,150 -Cooler & transformer enclosure (excavation, concrete, masonry & gates) $10,220 -Cooler foundation $3,750 -Grease trap location $2,500 -Ramp allowance $4,000 -Asphalt paving $4.495 Exterior property work, which is not eligible for DDA funds $32,115 If the proposed improvements are made to the property, the tax increment changes are as follows: Estimated new taxes after renovation — 2002 taxes payable in 2003 After renovation value estimation = $1,006,398 $281,585 Current taxes — 2001 property taxes payable in 2002 Current County valuation = $418,000 $11 872 Estimated Annual tax increment $16,713 During the timeframe from 2002-2006 this property is estimated to generate $75,208. ($16,713 x 4.5 years) If the Board chooses to participate in the project, two funding options exist, tax increment and administrative capital fimds. The administrative capital fund currently has $105,129 available. However, there are various projects anticipated before the end of this fiscal year. I would therefore recommend a tax -increment approach. This property and business is an integral part of the fabric of downtown Fort Collins, and staff recommends funding for the project of up to $75,208, contingent upon all construction being done before December 31, 2001. The new site of the restaurant will offer a fresh element to the area between College and Mason, on Oak Street. Additionally, this renovation could spur additional projects in the immediate area, an area that hasn't seen much improvement in over 30 years. ddoCbWNTOWN � DEVELOPMENT AUTHORITY 19 OLD TOWN SQUARE, SUITE 230 Telephone (970) 484-2020 FORT COLLINS, CO 80524 Telefax (970) 484-2069 To: DDA Board f Directors From: Jay Har Date: July 12, 20 16 RE: Mason Street North Project The development team of the Mason Street North Project will be present to introduce the captioned project. A funding request will be made at our meeting in August. The architect, Wolff -Lyon, Wonderland Hill Development Company and Paradigm Realty have partnered to bring this development downtown. The purpose of the presentation is to familiarize the Board with the project and field questions regarding the upcoming funding request. In summary, the project is located just north of Cherry Street between Lee Martinez Park and Cherry. Additionally, the site is the north end of the Mason Street Corridor. The project is scheduled for Planning & Zoning Commission review later this month, due to it being a major amendment to the originally approved plan. The project comprises: -Five buildings, all of which are mixed -use in nature. -A combined 17,524 square feet of office/retail is located in the project -Twenty residential units, ranging from 1-3 bedrooms. -22 parking spaces (for residential units) are located underground -40 non-exclusive public parking spaces on site All residential units will be `for -sale' units in the proximity of $230/sf. The office/retail portion of the project is slated to remain in the ownership of the development team, creating a long-term commitment to downtown Fort Collins. The overall project is estimated to cost between $7-8 million to build. Original plans called for `ordinary' parking and public areas. As a result of their preliminary work, the development team concludes that a higher end product would be the result of DDA participation, as well as additional parking for downtown park and community users. The developers would like DDA input on the seven areas of public parking spaces, public space as pedestrian linkages to Lee Martinez Park, over the railroad tracks and access to Block 33. These seven elements include: (and are outlined in your packet) 1. Northern parking plaza 5. Southern parking area 2. Roundabout 6. Central parking plaza kiosk 3. Central parking plaza 7. Northern parking plaza 4. Railroad crossing This project has been designed by an award winning team, which has recently received numerous awards for a project on Pearl Street in Boulder. Additionally, they have extensive experience in the concept of `New -Urbanism'. The project is truly a fine example of new -urbanism, and as the DDA continues to commit to housing and mixed -use projects, this would be a tremendous asset to the downtown community. The location on the north fringe of the DDA boundary provides a housing element, which will create foot -traffic into downtown, as well as be very user friendly to the Mason Street Corridor and Lee Martinez Park system In light of a funding request in August, the Board is encouraged to review the project and determine which related questions need to be answered over the next month. Construction is scheduled later this fall, and design of the project is nearing completion. DtWNTOWN 0 UWDEVELOPMENT AUTHORITY 19 OLD TOWN SQUARE, SUITE 230 Telephone (970) 484-2020 FORT COLLINS, CO 80524 Telefox (970) 484-2069 To: DDA Board of Directors From: Jay Hard ,�/1 Date: July 12, 2 �jy/� RE: Project Update — Upcoming items The following is a list of current projects for which DDA has committed funding, and items of DDA interest: Armory Building — Tax increment funds in the amount of $68,885 were committed. The project is currently nearing completion, and appears to be a tremendous asset to downtown. A tour of the completed building will be offered to the Board next month. Cluck U Chicken (616 S. College Avenue) — The DDA committed $57,896 in tax increment funds. This commitment expired on April 6, 2001 due to lack of funding. The property is currently on the market. Ace Hardware — The DDA committed $23,871 toward *ade improvements for the property formerly known as Larrabee's. Additionally, the DDA committed up to $32,000 for sidewalk improvements in front of the current and future Ace Hardware locations. The project is now complete. 200 Walnut Streetscape — DDA committed $45,000 to this project and it has now been completed. Northern Hotel — DDA committed $331,000 to the project and it is scheduled for completion in October. Work on the fagade began last week. Poudre River Improvements — Funds for the design work were committed last month. Work is ongoing. Riverfest sponsorship — DDA committed funds to sponsor the event and purchase sandstone benches along the trail. Work has been completed and the event was a success.. Performing Arts Center/Library/Museum — The citizen initiative received enough signatures to place the item on the November ballot. Fundraising is now ongoing for a campaign to pass this tax issue.