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HomeMy WebLinkAboutDowntown Development Authority - Minutes - 05/04/2006DOWNTOWN DEVELOPMENT AUTHORITY REGULAR DIRECTORS' MEETING STEVE TAYLOR, CHAIR 221-0524 (W) KURT KASTEIN, COUNCIL LIAISON 223-0425 (W) LINDA GuLA, STAFF. LIAISON. 484-2020 (W) MINUTES OF MAY 4 2006 REGULAR MEETING THE BOARD OF DIRECTORS OF THE DOWNTOWN DEVELOPMENT AUTHORITY MET IN REGULAR SESSION AT 7;30 A,M, ON MAY 4, 2005 IN THE MEETING ROOM AT HOME STATE BANK LOCATED AT 303 EAST MOUNTAIN AVENUE, FORT COLLINS, CO 80524. PRESENT STEVE TAYLOR. CHAIR JACK WOLFE. VICE -CHAIR GREY HEWITT, SECRETARY/TREASURER GEORGE BRELIG MCCASE CALLAHAN KURT KASTEIN BILL SEARS PATTY SPENCER ABSENT Kim JORDAN STAFF ROBERT STEINER, DDA EXECUTIVE DIRECTOR MATT ROBENALT, DDA PROJECT MANAGER LINDA GULA, DDA STAFF LUCIA ULEY, COUNSEL GUESTS DARIN ATTEBERRY, CITY MANAGER, CHUCK SEEST, CITY FINANCE DIRECTOR, MIKE FREEMAN, CITY ECONOMIC ADVISOR, KAREN WEITKUNAT, KATHY CARDONA, DAVID SHORT, KATHLEEN BRACKE, CURT RICHARDSON. DON BUNDY. CHRIS RAY, KIT SUTHERLAND, SCOTT KINT2, DON OGLESBY, DAVE EDWARDS, RAY CARAWAY. CALL TO ORDER MR. TAYLOR CALLED THE MEETING TO ORDER AT 7:35 A.M. ROLL CALL WAS TAKEN. APPROVAL OF MINUTES MR. SEARS MOVED TO APPROVE THE MINUTES OF APRIL 6, 2006. SECONDED BY MR. WOLF AND PASSED UNANIMOUSLY. CONSENTAGENDA - 130 SO. COLLEGE 301 SO. COLLEGE - DBA AGREEMENTS - BUDGET RESOLUTION ($560,000) - WAIVER OF CHERRY STREET LOFTS PATIO EASEMENT MR. STEINER PULLED THE DBA AGREEMENTS AND THE BUDGET RESOLUTION. EACH ITEM REQUIRED FURTHER DISCUSSION BY THE BOARD. HE STATED WHEN VOTING ON THE CONSENT AGENDA, IT WOULD INCLUDE 1 30 SO. COLLEGE, 301 SO. COLLEGE, AND THE WAIVER OF CHERRY STREET LOFTS PATIO EASEMENT, HE STATED ANY OF THESE ITEMS CAN BE PULLED FOR FURTHER DISCUSSION BY THE BOARD, MR. WOLFS MOVED TO APPROVE THE CONSENT AGENDA WHICH INCLUDES 130 SO. COLLEGE, 301 SO, COLLEGE AND THE WAIVER OF CHERRY STREETS LOFTS PATIO EASEMENT. SECONDED BY MR, SEARS AND PASSED UNANIMOUSLY. DDA BOARD MINUTES PAGE 2 MAY 4, 20015 F-TET—W-TarMTOM MR. STEINER STATED THERE ARE TWO PIECES TO THIS ITEM: I . THE DDA HAS TRADITIONALLY CONTRACTED WITH THE DOWNTOWN BUSINESS ASSOCIATION IDEA) TO PROVIDE ADDITIONAL MARKETING SERVICES FOR WHICH THE DDA PAYS THEM $ 10,000. TYPICALLY THIS IS DONE IN JANUARY, BUT THIS YEAR IT DID NOT GET ON THE JANUARY AGENDA. MR. STEMM ASKED THE BOARD TO AUTHORIZE THE EXPENDITURE OF 10,000 FOR ADDITIONAL MARKETING SERVICES FROM THE DOWNTOWN BUSINESS ASSOCIATION. 2. A YEAR AMC THE DDA AGREED TO TAKE OVER THE MAINTENANCE AND MANAGEMENT OF OLD TOWN SQUARE PLAZA. THE ARRANGEMENT WAS THAT THE CITY WOULD TAKE OVER MAINTENANCE AND THE DBA WOULD HANDLE THE MANAGEMENT OF OLD TOWN SQUARE (SCHEDULING OF VENDORS AND ENTERTAINMENT IN OLD TOWN SQUARE). BECAUSE WE DO NOT HAVE PERMANENT AGREEMENTS IN PLACE FOR ANY OF THOSE THINGS, AN INTERIM AGREEMENT HAB BEEN EXECUTED ON THE MAINTENANCE PIECE AND THAT PERMITTED THE DDA, CITY, AND PROGRESSIVE OLD TOWN SQUARE TO JOINTLY FUND THE MAINTENANCE OF THE PLAZA WHICH HAS BEEN OCCURRING FOR A YEAR OR SO. MR. STEINER STATED AN AGREEMENT WAS NEVER DONE WITH DBA BECAUSE WE KEPT ANTICIPATING THAT WE WOULD HAVE THE PERMANENT AGREEMENTS IN PLACE, HE STATED THEY ARE NOT IN PLACE AND DBA HAS BEEN EFFECTIVELY MANAGING THE PLAZA FOR WELL OVER A YEAR WITHOUT AN AGREEMENT. WITH THE DDA, WITHOUT ANY GUIDELINES, AND WITHOUT COMPENSATION. THE ORIGINAL PLAN WAS TO PAY THE DBA $35,000 PER YEAR TO MANAGE THE PLAZA, THE DBA HAS NOT BEEN PAID FOR LAST YEAR'S OR THIS YEAR'S SERVICES. MS, LILEY STATED WHEN THE DDA ENTERED INTO THE INTERIM AGREEMENT WITH THE CITY AND PROGRESSIVE OLD TOWN SQUARE, THE DDA RECEIVED AUTHORITY FOR THE DBA TO MANAGE THE PLAZA UNTIL A PERMANENT AGREEMENT IS IN PLACE AND ALSO AUTHORITY FOR THE DDA TO DELEGATE THAT RESPONSIBILITY TO DBA. WHAT IS NEEDED NOW IS TO ENTER INTO AN INTERIM AGREEMENT JUST BETWEEN THE DDA AND DBA TO TAKE OVER THE INTERIM FUNCTIONS. SHE STATED THE AGREEMENT WILL TRY TO SEAMLESSLY TAKE ALL OF THE RULES AND REGULATIONS THAT HAVE BEEN USED BY PROGRESSIVE OLD TOWN SQUARE FOR MANAGEMENT OF THE PLAZA AND MAKING SURE THAT THE DBA THEN HAS A CLEAR SET OF GUIDELINES. THEN THOSE GUIDELINES WILL BE INCORPORATED INTO THIS INTERIM AGREEMENT WHICH WILL STAY IN EFFECT UNTIL WE HAVE THE PERMANENT AGREEMENT. THE ONLY OTHER ISSUE IS THE RETROACTIVE COMPENSATION FOR LAST YEAR'S SERVICE, MR. STEINER STATED THE INTENT IS TO NOT LEAVE THE DBA OUT THERE WITH NO AVENUE IF THERE ARE LEGAL ISSUES AND TO MAKE SURE WE ARE NOT VIOLATING ANY OF THE LAWS THAT GOVERN PUBLIC SPACES. MR, WHOLE MOVED THAT THE BOARD AUTHORIZE THE EXPENDITURE OF $ 10,000 TO BE PAID TO THE DOWNTOWN BUSINESS ASSOCIATION TO BE USED TOWARD MARKETING EFFORTS IN THE CENTRAL BUSINESS DISTRICT. SECONDED BY MR. KASTEIN AND PASSED UNANIMOUSLY. MR. WOLLE MOVED TO AUTHORIZE THE CHAIR TO ENTER INTO AN INTERIM AGREEMENT WITH THE DOWNTOWN BUSINESS ASSOCIATION FOR PROVIDING MANAGEMENT SERVICES OF OLD TOWN SQUARE AND TO AUTHORIZE THE EXPENDITURE OF $35,000 TO BE PAID TO THE DBA FOR SERVICES LAST YEAR. THE PAYMENT FOR 2006 MANAGEMENT SERVICES OF OLD TOWN SQUARE ($35,000) WOULD TO BE PAID AFTER NOVEMBER 1. 2006. SECONDED BY MR. HEWITT AND PASSED UNANIMOUSLY. DGET RESOLUTION MR, STEINER STATED THE AGREEMENT WITH THE CITY TO EXCHANGE FUNDS AS A METHOD TO PAY FOR BEET STREET HAS NOT BEEN COMPLETED. THE LATEST REQUIREMENT WOULD INVOLVE BOARD ACTION TO CANCEL COMMITMENTS TO CERTAIN PROJECTS AND RE -APPROPRIATE THE FUNDS FOR CITY CAPITAL PROJECTS. (THE CITY WOULD THEN HAVE PAID AN EQUIVALENT AMOUNT TO THE DDA WHICH WOULD HAVE BEEN USED FOR BEET STREET). HE STATED BECAUSE WE ARE ALMOST HALFWAY THROUGH THE YEAR; BECAUSE WE WILL NOT HAVE BEET STREET STAFF ON BOARD UNTIL THE FALL; BECAUSE DDA STAFF CANNOT SUPPORT CANCELING EARLIER COMMITMENTS MADE BY THE DDA; BECAUSE DDA STAFF WILL NOT BE IN TOWN FOR THE FIRST READING OF THIS DEAL EVEN IF IT WERE TO PROCEED; AND BECAUSE WE HAVE ANALYZED THE DDA'S ADMINISTRATIVE BUDGET AND BELIEVE WE HAVE SUFFICIENT FUNDS TO COVER ANY BEET STREET EXPENSES UNTIL WE SUBMIT AMENDED LANGUAGE FOR THE USE OF BOND PROCEEDS TO THE VOTERS IN NOVEMBER, WE ARE RECOMMENDING DROPPING THE WHOLE SWAP OF FUNDS IDEA. :1113:ZGI1��71:7IXi MR. STEINER REVIEWED THE PROPOSAL FOR A NEW BUILDING AT 252 EAST MOUNTAIN AVENUE (JUST EAST OF THE FOOD CO-OP AND EDAW). HE STATED THE OWNER OF THE BUILDING IS OTTER PRODUCTS. HE STATED THIS $4 MILLION BUILDING WILL HOUSE OTTER PRODUCTS' CORPORATE OFFICES AND HAVE RETAIL/RESTAURANT AT STREET LEVEL. THE BUILDING WILL HAVE A BRICK AND STONE FACADE WITH A LIGHT WELL ALONG THE EASTERN WALL (THIS WELL WILL PERMIT A SECOND BUILDING TO BE CONSTRUCTED RIGHT NEXT TO THE PROPOSED PROJECT AND STILL PROVIDE LIGHTING INTO THE INTERIOR), MR, STEINER STATED THE REQUEST IS REASONABLE, THE DESIGN IS ATTRACTIVE AND INNOVATIVE, THE USE BY OTTER PRODUCTS WILL RETAIN JOBS IN THE DOWNTOWN, AND IT IS POSSIBLE THE COMPLETED BUILDING WILL ENCOURAGE REDEVELOPMENT OF THE EASTERN TIP OF THE BLOCK ITSELF, HE STATED STAFF IS RECOMMENDING FUNDING AT $283.260, DDA BOARD MINUTES PAGE 3 MAY 4, 2006 MR. CURT RICHARDSON, OWNER OF OTTER INDUSTRIES, TALKED ABOUT BEINO IN DOWNTOWN AND HOW IT CONTRIBUTES TO HIRING GREAT PEOPLE, HE STATED THEY HAVE 21 EMPLOYEES NOW BUT WILL BE EXPANDING. HE SAID THEY ENCOURAGE ALTERNATIVE TRANSPORTATION FOR EMPLOYEES AND HAVE INCORPORATED EMPLOYEE BIKE STORAGE INTO THE BUILDING ALONG WITH BIKE STORAGE FOR VISITORS. MR. DON BUNDY, ARCHITECTS' STUDIO, EXPLAINED WHAT WAS BEING PROPOSED. HE TALKED ABOUT THE EAST FA4ADE, LIOHTNO ISSUES, BUILDING MATERIALS, THE UTILITY BOXES, AND THE TIMING OF CONSTRUCTON. BOARDMEMBERS DISCUSSED THE TIMING OF THE PROJECT, THE DESIGN, OUALITY MATERIALS, AND TRASH ISSUES WITH THE POSSIBILITY OF RECYCLING AND THE POSSIBILITY OF LEED CERTIFICATION. THE BOARD EXPRESSED SUPPORT FOR THE PROJECT AND STATED IT WAS A TERRIFIC DESIGN FOR THIS KEY LOCATION ON MOUNTAIN AVENUE. MR. HEWITT MOVED TO SUPPORT THE PROJECT UP TO $290,000. SECONDED BY MR. CALLAHAN AND PASSED UNANIMOUSLY 145 E. MOUNTAIN - MOUNTAIN AVENUE MARKETPLACE MR, STEINER STATED CHRIS RAY, THE PROPERTY OWNER, IS PROPOSING A FAgADE MAKEOVER TO THE BUILDING AND TO REDEVELOPING THE PARKING LOT ON THE WEST SIDE INTO A MARKETPLACE WITH KIOSKS ALONG THE WESTERN EDGE ABUTTING THE ALLEY. HE STATED MR. RAY WAS REOUESTNO DDA FUNDS TO BE USED FOR THE NEW BUILDING FACYADE, THE PUBLIC SIDE (ALLEY FACING) OF THE KIOSKS, THE METAL ROOFING ON THE KIOSKS, LANDSCAPING, ENTRY SIGNS, EXTERIOR LIGHTING, AND RESURFACING THE PARKING LOT (IN STAMPED ASPHALT). THE REQUEST TO THE DDA IS FOR $ 1 70.000 WHICH IS BASED ON AN ESTIMATED TAX INCREMENT OF $34,000 COLLECTED FOR A FIVE-YEAR PERIOD. MR. STEINER STATED THE EXECUTIVE COMMITTEE HAD THE FOLLOWING CONCERNS: IS THIS THE ULTIMATE USE FOR THE SITE? WILL IT REDEVELOP IN THE NEAR FUTURE? THE USE OF ASPHALT AS THE SURFACE FOR THE PLAZA, THE BLANK WALL FACING THE ALLEY. MR. CHRIS RAY OUTLINED HIS IDEAS FOR THE PROJECT AND STATED HE WANTED TO IMPROVE THE BUILDING AND THE AREA. HE STATED HE WOULD BE PROVIDING SPACES THAT COULD BE USED BY SMALLER ARTISTS AND CRAFTERS AND HE ALSO SUGGESTED THE PLAZA AREA COULD BE USED DURING FESTIVALS BECAUSE THERE WILL BE A STAGE AREA BUILT. THERE WAS DISCUSSION AMONG BO.ARDMEMBERS CONCERNING THE LONG-TERM VISION FOR THIS AREA. IT WAS SUGGESTED THIS SEEMS LIKE A MAJOR OPPORTUNITY AND THE PROPOSAL SEEMS LIKE A MINOR FIX, THERE WERE OUESTIONS ABOUT THE KIOSK CONCEPT AND USE, BOARDMEMBERS STRUGGLED WITH FINANCIALLY SUPPORMNO THIS PROJECT IF, IN FACT, IT IS AN INTERIM USE. THERE WAS DISCUSSION ABOUT THE USE OF ASPHALT INSTEAD OF PAVERS, CONCERN WAS EXPRESSED ABOUT THE BLANK WALL FACING THE ALLEY AND THE NEED TO MAKE THE AREA PEDESTRIAN FRIENDLY. MR. RAY STATED HE HAD BEEN TOLD THERE WERE RESTRICTIONS ABOUT WHAT COULD BE DONE IN THE ALLEY BECAUSE OF FIRE CODE REQUIREMENTS. THE BOARD SUGGESTED THIS IS INCONSISTENT WITH WHAT WAS DISCUSSED AT LAST MONTi'S MEETING WITH THE ALLEY IMPROVEMENTS THAT THE CLOTHES PONY IS PROPOSING. MR, STEINER STATED HE WOULD CHECK INTO THE FIRE CODE REQUIREMENTS. MR. TAYLOR SUGGESTED THERE MAY BE SUPPORT FOR MORE FUNDING IF THE OWNER CAME BACK WITH A PROPOSAL USING BETTER BUILDING MATERIALS AND AN APPROACH TOWARDS MAKING THE ALLEY MORE PEDESTRIAN FRIENDLY. MR. BRELIG SUGGESTED DRESSING IT UP WITH MORE BRICK AND AWNINGS, MR. KASTEIN MOVED TO APPROVE STAFFS RECOMMENDATION TO SUPPORT THE PROJECT UP TO $57.000. MOTION FAILED FOR LACK OF A SECOND. THE BOARD ENCOURAGED THE OWNER TO COME BACK WITH AN ENHANCED PLAN SHOWING BETTER BUILDING MATERIALS AND ADDRESSING THE ALLEY ISSUE. MR. HEWITT APPLAUDED THE IDEA OF AN ACTIVE MARKET PLACE. SCHRADER BUILDING -THIS ITEM WAS NOT HEARD, STONEHOUSE GRILL MR. STEINER NOTED THIS ITEM HAD BEEN HEARD AT LAST MONTH'S MEETING BUT THE OWNERS KIT SUTHERLAND AND SCOTT KINTZ HAD NOT BEEN IN ATTENDANCE. HE WENT ON TO STATE THEY HAVE PURCHASED THE FORMER PITNER CLOTHING BUILDING AT 1 25 SOUTH COLLEGE AND INTEND TO TURN THE FIRST FLOOR INTO A RESTAURANT AND THE SECOND FLOOR AND ROOF AREA INTO A MEETNO SPACE. THE REQUEST TO THE DDA IS FOR $ 1 75,000. HE NOTED THE BOARD SHOULD BE AWARE THAT THE DDA HAS INVESTED ABOUT $ 100,000 IN THE PITNER BUILDING - ALL OF IT TO THE FRONT FACIADE. HOWEVER, THE PROPOSED IMPROVEMENTS TO THE ALLEYSIDE OF THE BUILDING ARE SIGNIFICANT AND COMPLETELY CONSISTENT WITH THE AUTHORITY'S EFFORTS TO PROMOTE ALLEY ENTRIES TO BUSINESSES, STAFF IS RECOMMENDING THAT THE DDA AGREE TO FUND THE HANDICAP ACCESS, ALLEYSIDE IMPROVEMENTS, AND THE RELOCATION OF UTILITY SERVICES TO THE EXTENT SUCH EXPENSES CAN BE ATTRIBUTABLE TO THE EXTERIOR OF THE BUILDING (MOSTLY REMOVAL AND REPAIR OF THE WALL), THIS RECOMMENDATION WOULD AMOUNT TO ABOUT $ 130,000 WHICH REPRESENTS 1 7 TO 20 PERCENT OF THE PROJECTED RENOVATION COSTS. DMA BOARD MINUTES PAGE 4 MAY 4, Z008 MB, KIT SUTHERLAND AND MR,SCOTT KINTZ, OWNERS; AND MR. DON OGLESBY, ARCHITECT, WERE AVAILABLE TO ANSWER QUESTIONS. MS. SUTHERLAND WALKED THROUGH THE PROJECT AND EXPLAINED THE REAR FAS.ADE IS CURRENTLY BRICK AND STUCCO AND IS BADLY DETERIORATING BECAUSE OF WATER RUNOFF FROM THE ALLEY, SO THEY WILL NEED TO TOTALLY REBUILD THAT BRICK WALL. SHE STATED WHEN THEY PULLED THE STUCCO THEY FOUND SEGMENTED ARCHES OVER THE WINDOWS, SHE STATED PREVIOUSLY THEY HAD PLANNED FOR A BLOCK STYLE WINDOW BUT NOW THEY WILL USE SEGMENTED ARCHES BECAUSE IT WILL ENHANCE THE BUILDING FROM THE ALLEY AND ALSO KEEP A MORE HISTORICAL APPROACH. SHE WENT ON TO NOTE THE FRONT OF THE BUILDING HAS BEEN BEAUTIFUL BUT AT THIS POINT IT IS REALLY DECAYING - ALL THE WOOD IS NOW FALLING APART AND NEEDS TO BE LOOKED AT. SHE STATED THEY WOULD LIKE TO CREATE A "STONE" FEEL TO THE FRONT OF THE BUILDING AND TO ENHANCE WHAT IS CURRENTLY THERE, ALSO TO CREATE SOMETHING THAT WOULD PROVIDE LONG TERM STRENGTH AGAINST WATER. THE STONE WOULD BLEND WITH THE BRICK, MS. SUTHERLANO STATED SHE WAS EXCITED ABOUT CONVERSATONS WITH OTHER BUSINESSES ON THE ALLEY SIDE WHO ARE INTERESTED IN ALLEY REDEVELOPMENT AND ROOFTOP BUSINESS OPPORTUNITIES TO CREATE KIND OF A "PIAZZA IDEA" IN THE ALLEYWAY, MR. HEWITT EXPRESSED CONCERNS ABOUT THE COMPATIBILITY OF STONE AND BRICK. THIS LED TO A DISCUSSION AMONG BOARDMEMBERS ABOUT THE DIFFERENT KINDS OF STONE AND STONE MATERIALS AVAILABLE IN THE MARKETPLACE. MR. BRELIG SUGGESTED HE MIGHT BE ABLE TO HELP THE OWNERS LOOK AT SOME OTHER STONE MATERIALS THAT MAY FIT THIS PROJECT. THE BOARD RAISED QUESTIONS ABOUT DUMPSTERS IN THE ALLEYS, WHICH THEN LED TO A DISCUSSION ABOUT CONSOLIDATED TRASH COLLECTION AND RECYCLING, MR, DARIN ATTEBERRY STATED THIS 13 BECOMING A BIGGER ISSUE DOWNTOWN, ESPECIALLY WITH THE ALLEY REDEVELOPMENTS, HE SUGGESTED IT MIGHT BE BENEFICIAL FOR DDA, OBA, AND THE CITY SIT DOWN TO TALK ABOUT THE ISSUE AND PUT TOGETHER A PROGRAM THAT BEGINS TO ADDRESS SOME OF THE PROBLEMS. HE STATED THERE IS A REAL OPPORTUNITY FOR BUSINESS PARTNERING AND COLLABORATION BETWEEN THE PUBLIC SECTOR AND THE PRIVATE SECTOR WITHOUT BEING EXTREMELY HEAVY HANDED. MR, ROBEHALT STATED THAT WITH HIS INITIAL RESEARCH ON TRASH ISSUES, THERE IS A RANGE OF ALTERNATIVES TO LOOK AT, HE STATED ANYTHING FROM RECEPTICALS TO BE USED, TO DISCUSSIONS ABOUT PICKUP SCHEDULES .HE STATED IT MAY SHAKE OUT THAT THERE NEEDS TO BE A DIFFERENT STRATEGY FOR EACH ALLEY. MR. WOLFS MOVED TO AUTHORIZE EXPENDITURES UP TO $ 1 30,000 TO SUPPORT THE STONEHOUSE GRILL AT 1 25 SOUTH COLLEGE, SECONDED BY MS. SPENCER, MR. HEWITT STATED HE FEELS VERY STRONGLY ABOUT THE COMPATIBILITY OR THE STONE AND BRICK, AND COULDN'T SUPPORT IT IF WERE TO APPEAR A3 IT WAS DESCRIBED TODAY. MR. HEWITT OFFERED A FRIENDLY AMENDMENT OF HAVING MR, BRELIG AND MR, STEINER WORK WITH THE OWNERS OF STONEHOUSE GRILL TO LOOK AT ALTERNATIVES TO THE STONE THAT WAS PRESENTED TODAY. THE FRIENDLY AMENDMENT WAS ACCEPTED BY MR. WOLFE AND MS. SPENCER AND THE MOTION PASSED UNANIMOUSLY. AZTLAN AND DOWMOWN RIVER INFRASTRUCTURE STUDY THE DDA BOARD APPROVED $?00.000 TOWARDS THE COST OF THIS STUDY IN OCTOBER 2004. KATHLEEN BRACKE, CITY TRANSPORTATION PLANNER, AND MATT ROBENALT, GAVE A POWERPOINT PRESENTATION ON THE PROJECT THAT FOCUSED ON THE SCOPE OF THE PROJECT, DESIGN, STREEMCAPE NEEDS, UTILITY NEEDS, PARKING NEEDS, AND LINKS TO DOWNTOWN. MS. BRACKE STATED THE GOAL 13 TO COMPLETE THE STUDY BY SPRING OF NEXT YEAR. COMMUNITY FOUNDATION WORK SESSION MR. STEINER STATED THE COMMUNITY FOUNDATION IS PROPOSING A FORUM TO STUDY IMPROVING CONNECTIONS BETWEEN COLORADO STATE UNIVERSITY AND THE CENTRAL BUSINESS DISTRICT. EXAMPLES INCLUDE; STUDENT HOUSING, ACADEMIC FACILITIES, SHUTTLE LINKAGES, AND CULTURAL OPPORTUNITIES. MR. STEINER STATED MR. DAVE EDWARDS AND MR. RAY CARAWAY WOULD BE PRESENTING THE IDEA TO THE BOARD AND ASKING FOR ITS INTEREST IN PARTICIPATING. HE STATED STAFF IS VERY SUPPORTIVE OF THIS CONCEPT AND BELIEVES IT WILL ENHANCE THE AUTHORITY'S BEET STREET EFFORTS. MR. DAVE EDWARDS SUMMARIZED THE IDEA STATING THE PURPOSE OF THE PLAN WILL BE TO ESTABLISH A FORUM MADE UP OF KEY STAKEHOLDERS WHO WILL WORK COOPERATIVELY TO IDENTIFY THOSE "CONNECTING POINTS" THAT RELATE TO THE UNIVERSITY, OLD TOWN AND THE SURROUNDING NATURAL ENVIRONMENT, FOUR KEY STAKEHOLDERS HAVE BEEN IDENTIFIED: CSU, CITY, DOWNTOWN DEVELOPMENT AUTHORITY AND THE BOHEMIAN FOUNDATION. SELECTED PROJECTS OR IDEAS DEEMED TO HAVE THE BEST CHANCE OF SUCCESS WILL BE IDENTIFIED, A PLAN FOR IMPLEMENTATION WILL FOLLOW, HE STATED AT THE HEART OF THIS PROPOSAL 13 THE CREATION OF A FORUM THAT WILL BRING TOGETHER IMPORTANT STAKEHOLDERS IN AN EFFORT TO IMPROVE UNDERSTANDING, FOSTER COOPERATION AND PROMOTE NEW IDEAS. TRADITIONALLY, THIS TYPE OF PROCESS WOULD BE COORDINATED BY THE CITY, THIS PROPOSAL ENVISIONS THE COMMUNITY FOUNDATION OF NORTHERN COLORADO AS THE CONVENER AND COORDINATOR OF THE PROJECT, DDA BOARD MINUTES PAGE 5 MAY 5, 2005 MR. EDWARDS STATED THEY ARE NOT ASKING FOR MONEY - THEY ARE ASKING FOR PARTICIPATION FROM THE DDA. AT PRESENT, A MINIMUM OF $ 1 25,000 13 AVAILABLE - $75,000 FROM THE CITY AND $50,000 FROM THE COMMUNITY FOUNDATION AND ITS DONORS. THE COMMUNITY FOUNDATION IS PREPARED TO SEEK ADDITIONAL FUNDING AS NEEDED. MR. WOLFE STATED HE WOULD LIKE TO APPLAUD THE COMMUNITY FOUNDATION FOR "STEPPING UP" AND PRESENTING THIS IDEA MR. TAYLOR SUODE3TED THAT THE EXECUTIVE DIRECTOR AND ONE OR T90 BOARD MEMBERS SHOULD PARTICIPATE AND SUGGESTED THAT THIS COULD BE DECIDED AT A LATER MEETING. OTHER BUSINESS SALES TAX UPDATE - CHUCK SEEST, CITY FINANCE DIRECTOR, DISTRIBUTED A REPORT SHOWING SALES TAX COLLECTIONS BEING FAIRLY FLAT IN THE LAST THREE MONTHS. HE STATED BUILDING PERMITS AND CONSTRUCTION HAVE FALLEN OFF, BUT THE GOOD NEWS IS THAT RESTAURANTS /ARTS/HOTELS/FOOD CONTINUE TO PERFORM WELL. BOND CEILING - MR. STEINER STATED AT A MEETING LAST WEEK REGARDING THE NOVEMBER ELECTION, BOND COUNSEL INFORMED US THE AUTHORITY WAS $4 MILLION SHORT OF REACHING ITS BOND CEILING OF $25 MILLION (THIS DOES NOT MEAN WE HAVE $2 1 MILLION IN BONDED DEBT- IT MEANS WE HAVE ISSUED BONDED DEBT IN THE AMOUNT OF $2 1 MILLION. BETTER THAN $ 13 MILLION OF THAT AMOUNT WILL BE PAID OFF THIS YEAR BUT APPARENTLY THE $25 MILLION FIGURE IS FIXED, NOT ROLLING, SO RETIRING DEBT DOES NOT CREATE THE ROOM FOR MORE DEBT). HE STATED THIS IS A BID DEAL SINCE WE REALIZE BETTER THAN $3 MILLION ANNUALLY IN TAX INCREMENT. THEORETICALLY WE WOULD HAVE TO LEAVE AB MUCH AB $ 15 MILLION ON THE TABLE. THEREFORE, AT THE NOVEMBER ELECTION WE WILL NEED TO ASK DOWNTOWN VOTERS TO APPROVE A NEW BOND CEILING, WERE PROPOSING MOVING THE GROSS AMOUNT TO $75 MILLION - $25 MILLION OF WHICH IS THE CURRENT CEILING, THE NEW CEILING COULD BE ROLLED INTO A NEW TIF DISTRICT. UPDATES BEET STREET - MR. STEINER REPORTED ON BEET STREET. HE REVIEWED THE VISIONING MATERIALS INCLUDED IN THE PACKET. MR, TAYLOR STATED THAT MS. JORDAN WOULD BE DOING A 2- VISIONING EXERCISE WITH THE COMMITTEE SCHEDULED FOR MAY 18, HE STATED HE WAS ENCOURAGED BY PROGRESS MADE AT FIRST MEETING AND THAT CONCENSUS WAS REACHED ON A LOT OF SIGNIFICANT ISSUES AND CONCEPTS. MR. STEINER STATED THE CONTRACT 13 READY WITH THE HEADHUNTER/RECRUITER. HE STATED AS WE BRING THE DIRECTOR IN WE WILL BE ABLE TO GIVE THAT PERSON VERY CLEAR DIRECTION AND AN UNDERSTANDING OF WHERE WE WANT TO 00 WITH BEET STREET, ADJOURN THERE BEING NO FURTHER BUSINESS, THE MEETING AD OURNEO 10:30 A.M. ccl, 0i A �� 4��@ AREY H ITT, SECRETARY