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.