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HomeMy WebLinkAboutDowntown Development Authority - Minutes - 08/21/1986�NTOWN 0 �� DEVELOPMENT AUTHORITY 102 REMINGTON STREET, FORT COLLINS, COLORADO 80524 (303) 484-2020 Regular Directors Meeting August 21, 1986 The Board of Directors of the Downtown Development Authority met in regular session at 7:30 a.m., August 21, 1986 in the DDA Conference Room. There were present: PRESENT George Betz, Chairman presiding Bill Friedrichsen Chuck Wanner Earl Wilkinson 5eanne Abdelnour Barbara Rutstein, Council alternate Staff: Chip Steiner, Executive Director Jan Martin Also: Tom Peterson Claire March Alan Krcmarik Lisa Morrison Joe Lewandowski Lucia Liley Dick Beardmore Greg Denton Absent: ABSENT Larry Estrada Barbara Schofield Eldon Ward George Betz called the meeting to order and asked for approval of the MINUTES minutes of July 31, 1986. Earl Wilkinson moved for approval seconded by Chuck Wanner. Chairman Betz then introduced Lucia Liley as the Council's appointment to the vacancy on the DDA Board. She will be formally approved at the September 2 City Council meeting. The first order of buss was discussion of the �jor Motors building. Because the Opera House Block project would displace some residents, the Housing Authority suggested relocating into renovated facilities in the Major Motors building at the corner of Linden Street and Jefferson Street. The proposal is for the Housing Authority to master lease the second floor and renovate it into 15 single room units. The building would receive a facelift. Funding sources would include LDC for the facelift, Housing Authority, CDBG funds, and the DDA if the Board approves it. The DDA funds would come from the tax increment off the Opera House since the developer of that project previously offered to use $5,000 of his tax increment for this purpose. The funds would be used for window replacements and improvements to stairwells and entryways. Staff recommended the following contingencies if the Board decided to commit these funds: 1. Maximum of $5,000 2. DDA obligated only if displaced Opera House residents have priority 3. DDA obligated only if Opera House project is done 4. DDA obligated only if Opera House project generates project tax increment 5. Confirmation of equivalent rents Staff pointed out that the project is consistent with DDA objectives in the following ways: • Housing downtown • Rehabilitation of existing structures • DDA also taking responsible action to meet a social need Discussion followed. Chuck Wanner moved that the Board accept the Major Motors recommendation seconded by Jeanne Abdelnour. A roll call vote was taken with the Board approving the recommendation 5-1. The next order of business was the Mason Street Parking Lot purchase inquiry. Bill Friedrichsen moved that the Board go into executive session since the nature of this discussion would be negotiations for acquisition or financing of real property acquisitions. Chuck Wanner seconded the motion. A roll call vote was taken with the Board unanimously approving the motion. The Board then went into executive session at 7:40 a.m. The Board moved out of executive session at 8:00 a.m. Bill Friedrichsen moved that staff be authorized to seek an appraisal on the Mason Street lot and be available for further discussions. Earl Wilkinson seconded the motion. A roll call vote was taken with the Board unanimously approving the motion. Under other business, Greg Denton, DDA legal counsel, informed the Board that the tenant of the Small Wonder property may be selling his business and that the new tenant would probably want to stay on the premises another three months. Discussion followed, but no decisions were made at this time. There being no other business, the meeting was adjourned. IF -Arlilkinson, ecretary MAJOR MOTORS BUILDING MASON STREET PARKING LOT EXECUTIVE SESSION ADJOURN D&NTOWN � DEVELOPMENT AUTHORITY 102 REMINGTON STREET, FORT COLLINS, COLORADO 80524 (303) 484-2020 Regular Directors Meeting July 31, 1986 The Board of Directors of the Downtown Development Authority met in regular session at 7:30 a.m., July 31, 1986 in the DDA Conference Room. There were present: PRESENT Eldon Ward, Vice Chairman presiding Bill Friedrichsen Chuck Wanner Earl Wilkinson Jeanne Abdelnour Larry Estrada Staff: Chip Steiner, Executive Director Jan Martin Also: Ed Zdenek Tom Peterson Walt Brown Brenda Specht Joe Lewandowski Gary Diede Leon Sheppard Greg Denton Dick Beardmore Eldon Ward called the meeting to order and asked for approval of the MINUTES minutes of July 10, 1986. Jeanne Abdelnour noted that Eldon Ward did vote on the general reimbursement contract which was not indicated in the minutes. The correction was made and Earl Wilkinson moved for approval as corrected, seconded by Larry Estrada.