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HomeMy WebLinkAboutDowntown Development Authority - Minutes - 05/13/1999AWNTOWN � DEVELOPMENT ddoAUTHORITY 19 OLD TOWN SQUARE, SUITE 230 Telephone (970) 484-2020 FORT COLLINS, CO 80524 Telefax (970) 484-2069 DOWNTOWN DEVELOPMENT AUTHORITY Regular Directors' Meeting Kermit Allard, Chair 482-1893 (W) Chuck Wanner, Council Liaison 484-0810 (H) Anne Garrison, Staff Liaison 484-2020 (W) MINUTES OF MAY 13, 1999 REGULAR MEETING The Board of Directors of the Downtown Development Authority met in regular session at 7.30 a.m. on May 13, 1999 in the conference Room at Home State Bank, 303 East Mountain Avenue. PRESENT There were present. Kermit Allard, Chair Mary Brayton, Vice Chair Jason Meadors, Secretary Steve Slezak Chuck Wanner Larry Stroud John Pitner Greg Belcher, Treasurer Margaret Brown STAFF Jay Hardy, Executive Director Lucia Liley, Legal Counsel GUESTS Mike Powers, Michael Hayden, Les Kaplan, John Fischbach, Chip Steiner Bud Frick, Ellen Martin, Mark Breimhorst, Mack & Jackie Anderson CALL TO ORDER Mr. Allard called the meeting to order at 7:30 a.m. and roll call was taken. APPROVAL OF Ms. Brayton moved to adopt the minutes of April 1, 1999 as written, MINUTES this was seconded by Mr. Stroud and carried unanimously. DDA MINUTES PAGE 2 PRESENTATION As W. Allard concluded his two year term as Chairman, Ms. Brayton marked the occasion by presenting him with a plaque to express the thanks and appreciation of the Board for his level of expertise, and the standard of excellence he has set during his tenure. ELECTION OF OFFICERS Mr. Allard referred to the Bylaws, and reminded the Board of the suggestion, already place, to combine the positions of Secretary and Treasurer, allowing the outgoing Chair to continue serving on the Executive Board in an ex-officio capacity, if the Board so elects. W. Allard then proposed voting a slate of officers, nominating the following Directors: Mary Brayton (Chair) Larry Stroud (Vice Chair) Jason Meadors (Sec/Treas) This was followed by nominations from the floor: ■ Mr. Siezok nominated Larry Stroud as Chair ■ Ms. Brown nominated Mary Brayton as Chair Mr. Stroud withdrew his name from the slate, as Chair, deferring to Ms Brayton's greater experience. Mr. Wanner moved to elect Ms. Brayton for the position of Chair, this was seconded by Ms. Brown and carried unanimously. Mr. Pitner then moved to elect Mr. Stroud for the position of Vice Chair, this was seconded by Mr. Belcher and the motion carried unanimously. Mr. Belcher moved to elect W. Meadors for the dual position of Secretary/Treasurer, this was seconded by Mr. Stroud and the motion carded unanimously. W. Allard then explained that he was not applying for reappointment to the DDA Board at this time due to professional and organizational commitments. At the conclusion of which he will seek reappointment. ARI IN PU/uc PLACES Mike Powers provided the overview for artist, Michael Hoyden's presentation. An eighteen member selection panel reviewed the work of thirty three applicants, and commissioned the finalist. Michael Hayden then gave a slide presentation and followed with a question and answer period. Concerns expressed were the moving effect of wind, traffic and pedestrians on these suspended designs and the visual impact on drivers. Other questions included cost, warranty, maintenance and merchant acceptance. The historic nature of downtown and how well these designs blend or not, as the case may be. Ms. Brayton explained the Downtown Business Association's debate and opposition to the project. Mr. Belcher moved to support the concept, but not the specific means and placement, and W. Stroud seconded the motion. DDA MINUTES PAGES Messrs. Slezak and Pitner spoke in opposition to the motion. Ms. Brayton advocated no position be taken, however the motion carded 5 - 4. CITY DRUG In his summary, Mr. Hardy explained that the restoration of this building will have a major visual impact at a high traffic comer. The building will be restored with a late Victorian appearance, together with the next door building, which currently houses Nico's Catacombs and the T-Shirt Gallery. The tax increment participation requested allows no margin for costs. Mr. Kaplan explained that without DDA participation he would have to modify the project. Owned by City Drug, the sign Is a fixture, and occupants are resistant to any change being made. Mr. Miner moved to support the project in the amount of $67,000 or the equivalent percent to total, with a cap of $67,000 using tax Increment, and subject to the usual terms and conditions. Mr. Slezak seconded the motion. Discussions followed on items not included in the soft costs, such as permits etc., and there was concern regarding the use of full level tax increment funding. Mr. Kaplan suggested using tax increment minus whatever costs were involved. The motion failed. Mr. Slezak then moved to fund the project up to the tax increment allowed, less financing and appraisal costs, and subject to the usual terms and conditions, the amount is not to exceed $67,000. This was seconded by Mr. Miner and carded unanimously. 107-115 S COLLEGE The explanation for this second project was presented by Messrs. Hardy and Kaplan. Counsel posed some questions relating to Exhibit B which concerned lower level stairs, storm water gate and coffered ceiling, and touched on the removal of inappropriate items. Mr. Slezak had questions on signage and advocated the arcade be part of the facade. It was determined that Mr. Kaplan is not seeking State Historic funding. Ms. Brayton then moved to support the project at an amount not to exceed $84,000 minus the costs of funding. She clarified that an appraisal is included in the costs of funding being bome by the owner. This was seconded by Mr. Belcher and carried unanimously. However, it was determined the project did not require an appraisal. The Board felt constrained to clarify that any appraisal required, is to be considered part of the owner finance costs, on the two prior motions. 185 N COLLEGE This project was presented by Mr. Steiner who is representing owners Mack and Jackie Anderson. Formerly owned by the DDA, this property has lain vacant for some considerable time. The plans include a ground level restaurant and second floor office space. This intersection has gained tremendous significance as a lead-in to the Justice Center, new City building and parking garage. In addition, the projected redevelopment of the Northern Hotel, across the street, makes such infill highly desirable. The Anderson's are requesting DDA participation in the amount of $105,600 with a total private investment in excess of one million dollars. The DDA would take ownership of the facade, which can be supported by tax increment financing. • DDA MINU7M PAGE 4 The project which could begin within weeks and will take approximately four months for shell finish, and six months to total completion. The City has undertaken the sidewalk plans, with the owners contributing $45,000 toward it. W. Meadors moved to fund this proposal in the amount requested, W. Stroud seconded and the motion carried unanimously. OTHER BUSINESS Mr. Steiner's letter of thanks to the Board was shared. ADJOURN There being no further discussion, the meeting adjourned at 9.55 a.m. Jason Meadors, Secretary ddaAWNTOWN � 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 Hardy Date: June 3, 1999 RE: 345 E. Mountain Ave. (Old Salvation Army Building) Lloyd Jenkins, current owner of 345 E. Mountain Avenue is currently in the process of renovating the old Salvation Army location for new tenants, Ballofett and Associates. As the construction of the interior of the building was taking place, the DDA had the opportunity to inquire about a design for the facade of the building. Upon learning the facade was not in the plans, Lloyd and I met about the possibility of including the facade in the project, with DDA support. This project offers a unique opportunity to enhance a block of downtown, which is beginning to see an increase of renovation and development. The facade will continue the "Home State Bank feel', and enhance another property on the south side of east Mountain Avenue. The DDA would be taking an easement on the facade, for which total costs of replacement are $78,916. This request in the amount of $40,000 is approximately 10.6% of the project costs ($375,045), and amounts to 55% of the total tax increment. Total tax valuation of this property is estimated to increase approximately $558,000 based on the higher level of rental income the property will produce. Finally, with additional projects anticipated on the opposite side of the street, I feel this project is very important as an extension of renovation on Mountain Avenue. 345 E. Mountain is a wonderful example of the DDA having the ability to leverage additional aspects of a renovation in an effort to improve the overall project, and ultimately benefit the central business district. ddadbwrvrowry • DEVELOPMENT AUTHORITY 19 OLD TOWN SQUARE, SUITE 230 FORT COLLINS, CO 80524 To: DDA Board of Directors From: Jay Hardy Date: June 3, 1999u RE: Downtown Stadium Telephone (970) 484-2020 Telefax (970) 484-2069 As many of you have heard, the potential for bringing minor league baseball to Northern Colorado is increasing, and the DDA has an opportunity to play a leading role. In this endeavor, two opportunities exist: the relocation of an existing team, and the relocation of an entire league from Arizona into the Colorado -Wyoming area. Both efforts are moving forward, however, each situation requires a stadium to be built for Fort Collins to be the home in either situation. In an effort to move the process forward, Larimer County is conducting an analysis as to whether or not to include a stadium in their proposed ballot. This item may appear on the ballot in November, with or without the stadium. Due to time constraints, the County is anticipating a mid -July decision regarding its placement on the ballot. As to the timing issue, I have been in close contact with the County to ensure an interactive relationship, which would allow both the County and the DDA to pursue the potential of each site. In our efforts to move forward with site analysis, I would like to suggest the Board consider committing $5,000 to retain an architect to analyze the footprints of 5-6 sites within or near the district. The firm of Valentiner, Crane, Brunjes and Onyon have built similar projects in Salt Lake City and Ogden, Utah and have agreed this sum of money would allow for an analysis and renderings. If the project is deemed viable, another $5,000 would offer full analysis of water, sewer, etc. of 2-3 sites. As many downtowns have used stadiums as a catalyst for new development, sites have been selected that would serve in this capacity, as well as sites which can take advantage of all the current assets downtown has to offer. I am confident we can find a site, which accommodates the objectives, set forth by the DDA. ddaDdwNrowry � DEVELOPMENT AUTHORITY 19 OLD TOWN SQUARE, SUITE 230 Telephone (970) 484-2020 FORT COLLINS, CO 80524 Telefax (970) 484-2069 To: DDA Board of Directors From: Jay Hardy Date: June 3, 1999 RE: Project Analysis Guidelines As the DDA continues to view participation requests at a rate heavier than recent past, discussion of the process for analyzing these projects has arisen. As the Board continues to support most of these significant enhancements downtown, the procedure for deciding the amount of financial participation has proved somewhat confusing in many cases. The feeling that some applications bring a `sense of entitlement' to DDA funds is a matter of concern and Board discussion is encouraged to determine whether a different analysis of process is needed. AwNrowiv • DEVELOPMENT AUTHORITY 19 OLD TOWN SQUARE, SUITE 230 FORT COLLINS, CO 80524 To: From: DDA Boar�d °f Directors Jay Hard}° Date: June 3, 199,9J RE: Updates Telephone (970) 484-2020 Telefox (970) 484-2069 Performing Arts Center. I have been offered the opportunity to represent the DDA on the committee to select a site for the Performing Arts Center. Currently, a firm from Cleveland is finalizing a study analyzing three sites for this project. Final report of these sites is due June 21, 1999, followed by a meeting in early July for final approval. The sites are: a. Old Courthouse site b. Block 31 (south end) C. Riverside site (between Riverside and Willow, Linden and Lincoln) Northern Hotel. All aspects of the project are progressing without problems. Tax credits have been committed ($4.4 million) and Funding Partners awaits two other funding elements to be finalized. Closing is scheduled for August 15"' if all goes well. More to come. Horticultural Center. The City has agreed to financial terms with CSU for the site located behind the University Park Holiday Inn. City Council must still approve the project on the site.