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Home My WebLink AboutEconomic Advisory Commission - Minutes - 08/27/2008Minutes City of Fort Collins Economic Advisory Commission Regular Meeting 300 Laporte Ave City Hall August 27, 2008 11:00-1:00 p.m. For Reference: Christophe Fabvre, Chair 227-0282 Mayor Doug Hutchinson, Council Liaison 416-2154 Mike Freeman, Staff Liaison 416-2253 Erin Gill, Minutes 221-6505 Commission Members Present: Jim Clark, Blue Hovatter, Bill Timpson, Christophe Febvre, Rick Price Commission Members Absent: Beena Bawa, Kevin Shaw, Stu MacMillan Guests: Ann Hutchinson, Chamber Staff Present: Mark Jackson, Transportation Group Director Chuck Seest, Finance Director Rick Richter, Pavement Management Program Manager Erin Gill Staff Absent: Mike Freeman, Chief Financial Officer Council Present: Doug Hutchinson Agenda Item 1 – Meeting Call to Order Meeting called to order 11:10 a.m. Agenda Item 2 – Approval of Minutes Unanimous approval of minutes June 11, 2008 and July 9, 2008 Agenda Item 3 - Public Comment on future agenda items Blue Hovatter and Rick Price proposed the EAC meet with the DDA to talk about Beet St vision as a future agenda item. Bill Timpson suggested he would like to see the EAC learn more about diversifying the Fort Collins tax base. Christophe Febvre suggested the EAC first pursue learning about The Larimer County United Way Pathways Past Poverty program. No future agenda item decisions were made during this discussion. Agenda Item 4 – Member updates and discussion Discussion consensus was that the EAC is in a good position to give good, useful advice to Council by evaluating the 6 month planning calendar and raising questions, suggestions, ideas and insights to City staff. Agenda Item 5 – Mark Jackson 1-25/392 Interchange Improvement Project Mike Freeman wasn’t able to attend this meeting due to his attendance at a conference. Mark Jackson, the City Transportation Group Director emphasized this is more than a transportation project because regional communities economic efforts have come together to make a great southern gateway. 11 II--25/SH 392 Interchange 1601 Study & Improvements Economic Advisory Committee August 27, 2008 22 Background • A three year study completed in 2007 identified the issues surrounding the Interchange Improvements required at I-25/ State Highway 392. •Part of the study evaluated the universe of financing tools available to the Town of Windsor and the City of Fort Collins. •A joint task force (staff from the Town, City and a potential Developer) was formed to focus on the specific financing tools to use for funding scenarios. 33 I-25/SH 392 Interchange Improvements 1601 Systems Level Analysis •Technical Feasibility Study (operational acceptability) •Environmental Clearance (NEPA) •Project Funding •With Town Board & City Council Approval – Report presented to CDOT Transportation Commission for Type I Approval 44 Executive Oversight Committee Overall Project Team 1601 Process Committee Finance Committee Financial Plan NEPA Document System Level Analysis Final IGA I-25/SH392 Interchange Approval Process 1601 Documentation 55 System Level Analysis Study Council Work Session Trans- portation Commis- sion Approval Council Work Session 1. MPO/TPR Board Approval Conceptual Design 2. NEPA Approval 3. FHWA Interstate Access Approval Final IGA Approval Final Council Hearing Council Hearing Council Work Session 1601 and Financial Update CDOT 1601 Policy Directive Process Today July Aug Oct Nov Dec Jan 2009 Public Outreach Meetings Public Outreach Meetings 66 Funding Gap on Interchange Preliminary Cost Estimate : $ 22.7 Million ** Funding from CDOT 1.9 Million Funding GAP to Fill $ 20.8 Million ** Based on CDOT data included in March 2008 IGA signed by the City, Town and the developer. Amount is subject to change given inflationary trends for construction materials. Stop the Presses! Revised estimates per CDOT I-25 EIS may run as high as $25-$26M 77 Who are the Stakeholders? • General Public • Significant property owners in the Corridor Activity Center • Local Governments (Town, City & MPO) • Federal and State Government 88 What Financing Tools will be used? ¾ CDOT Contribution of $1.9 million ¾Development Related Tools: •Public Improvement Fee •Urban Renewal Authority on the Windsor Side ¾Metro District: • May be placed on a significant development or all properties within close proximity to the interchange. ¾Contributions from the General Funds of the Town & the City 99 3 Funding Scenarios A. SIGNIFICANT RETAIL DEVELOPMENT Based on the efforts of a single site retail development plus a Metro District. B. PUBLIC ENTITY FUNDING Based on a significant joint investment by both the City of Fort Collins and the Town of Windsor plus a Metro District. C. MIX OF PUBLIC ENTITY/ DEVELOPMENT Based on an equal mix of investment by both the public sector (City & Town) plus all impacted property owners, the funding is covered. 1010 Scenario A: Significant Retail Development 30% 9% 8% 8% 45% Metro District Development Related Tools (PIF & URA) CDOT City of Fort Collins Tow n of Windsor 1111 Scenario B: Public EntityFunding 30.5% 30.5% 9.0% 30.0% City of Fort Collins Town of Windsor CDOT Metro District 1212 Scenario C: Mix of Public Entity/ Developer Funding (50% each) 20.5% 20.5% 9.0% 20.0% 30.0% Cit y of For t Collins Town of Windsor CDOT Dev elopment Re lat ed Tool - P IF only Metro District 1313 Land Use & Transportation Maps 1414 1515 1616 1717 1818 1919 2020 2121 2222 2323 Windsor – East Side: • Commercial (252 Acres) • Employment (114 Acres) • Total Non-Residential (364 Acres) • Net Buildable Commercial Lands (300-340 Acres) Fort Collins – West Side: • Commercial (140 Acres) • Net Buildable Commercial Lands (100-120 Acres) Corridor Activity Center (CAC) LandSummary Land Use Summary 2424 West Side Shoreline and Wetland Buffer Lands (Estimated 17 Acres) 2727 Parameters Shaping the Scenarios Overall Vision for the Interchange: • Land uses and related revenues associated from those uses on both sides of the interchange. • Development standards that reflective of the high standards required by both communities in the region. • Joint Vision for Development: ¾Different, yet complementary uses on either side of the interchange. For more information on the I-25/SH 392 Interchange Improvement Project, go to www.fcgov.com/advanceplanning/392interchange.php or contact Mark Jackson, Transportation Group Director at (970) 416-2029. Additional joint meetings will be scheduled in the coming months. Agenda Item 6 – Approval/Discussion of Draft 1.0 Presentation Documentation and Analysis Form. After each meeting presentation, one member of the EAC will fill out the form below to be submitted back to the committee for overall edits and approvals for the following scheduled meeting. These documents will try and represent the diverse views of the commission. This form is a tool for the EAC to proactively look ahead and advise Council on agenda items when Commission consensus deems so. No decisions were made regarding the Presentation Document and Analysis Form this meeting. EAC Presentation Documentation and Analysis Form Draft 1.0 Organization and/or person presenting to the EAC Date Does the city fund the organization and if so how much? What other funding does the organization receive? Is the organization requesting funding from the City? Purpose of the presentation * * * * Desired outcome for presenter * * * * Impact of presented material to the city’s economy: [Rate from 0 to 10 where 0 means no relevance] [CF] Rank of … Comments: What area(s) of the economy are impacted by the presenting organization? [rate impact from 0 to 10] Primary Employment … 6 Local economic generation 7 Lower Income assistance 2 High-technology generation … 8 Cluster activity__________ … 4 Other _______________ … 0 Comments: Is there a quantifiable or potential Return-on-Investment for the City and if so explain? Are there any issues that the EAC feels should be addressed by the presenter, or are there any additional documents or data that the EAC requests from the presenter? Agenda Item 7 – Discuss next meeting time, location and agenda Next meeting is scheduled for October 23, 2008 posted on the Fort Collins main web page event calendar http://www.fcgov.com Agendas: http://fcgov.com/cityclerk/economic-advisory.php Submitted Erin Gill, Executive Administrative Assistant