HomeMy WebLinkAboutEconomic Advisory Commission - Minutes - 03/20/20131
Minutes
City of Fort Collins
Economic Advisory Commission
Regular Meeting
300 LaPorte Ave
City Hall
March 20, 2013
11:00 a.m. – 1:30 p.m.
For Reference:
Blue Hovatter, Chair 493-3673
Council Liaison Wade Troxell
Josh Birks, Staff Liaison 416-6324
Wendy Bricher, Minutes 221-6506
Commission members present: Commission members absent:
Michael Kulisheck Channing Arndt
Christophe Febvre
Daniel Lenskold
Sam Solt
Glen Colton
Ann Hutchison
Jim Clark
Blue Hovatter
Guests:
Eric Sutherland
Staff Present:
Wendy Bricher, Minutes
Josh Birks, Economic Health Director
Mike Beckstead, Chief Financial Officer
Jessica Ping-Small, Revenue and Project Manager
Bruce Hendee, Chief Sustainability Officer
Chris Donegon, Financial Analyst
Agenda Item 1: Meeting called to order
Meeting called to order at 11:04 a.m.
Agenda Item 2: Approval of minutes 2/20/13
Unanimous approval of minutes dates 2/20/13
Agenda Item 3: Public Comment
Eric Sutherland commented on the Fort Collins economic history and believes the Urban Renewal
Authority is insolvent. He stated that Fort Collins is a home rule City and the charter is the law of our
City. He believes the City has violated the City Charter by lending five millions to Innosphere and has
filed a criminal complaint against the City Manager. Mr. Sutherland believes more TIF has been pledged
than will ever be produced.
Financial Services
300 LaPorte Ave
PO Box 580
Fort Collins, CO 80522
970.221.6505
970.224.6107 - fax
fcgov.com
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Agenda Item 4: Follow-up discussion regarding previous meetings
Dan Lenskold asked the Economic Advisory Commission if they would be interested in viewing a
documentary called Frack Nation to further their education about fracking. He believes there is a lot of
misinformation out there and the video would provide a good perspective on the issue. Sam Solt
commented that fracking could be an economic issue and the State issues will likely be the driver. Mike
Kulisheck commented that we shouldn’t take ideology sides as a commission. The EAC agreed and will
plan to share optional educational opportunities amongst the board members as appropriate through email.
Agenda Item 5: Member Updates/Future Agenda Items Discussion
Sam Solt requested that we consider a revision of our EAC Agenda to include accountability checks on
the Strategic Action Plan as well as reviewing project and policy items. Christophe Febvre commented
that he believes the EAC should act as an advisory level on policy, not an executive level. We need to set
clear boundaries and expectations. The EAC agreed and will move forward in revising the monthly
agenda.
Ann Hutchison recommended keeping an eye on the upcoming items on the 6 month planning calendar
including Water Supply Management, Capital Expansion Fee Updates, Design Standards for Land Use
Codes and URA Projects that have a TIF connection. She also believes a URA 101 would be helpful to
new members of the Commission as well.
Josh Birks provided an MOR update regarding Woodward, Foothills Mall Redevelopment, and Aspen
Heights. Ongoing items include URA Policies and Procedures, Midtown Urban Design Master Plan,
Economic Health assistance Framework, Mason Corridor, Economic Health Strategic Plan
Implementation Group, and the EHO Annual report.
Jessica Ping-Small provided the February Sales Tax update and sales tax collections are up 4.5%. We are
looking more on how we are doing in terms of our budget more than focusing year-over-year. Currently
the Budget-to Actuals YTD sales and use tax revenues is 351,000 more than budgeted, or 1.8% over.
Agenda Item 6: Woodward Assistance Package
Josh Birks provided an update regarding the Woodward Assistance Package including project description,
location, overall development plan, project phases (1-4) and the site plan. He also covered information
regarding the public benefits and revitalization of the area. Economic benefits include retention of a large
primary employer, expansion to include the relocation of the engine systems, and potential for additional
Woodward supplies and vendors. The package falls within the City Plan objectives including catalyst of
project areas and net benefits to other taxing entities and the economic impacts include project
employment, cost/earning impacts, fiscal, impacts and environmental impacts. Details of the package
were limited at this time and the EAC has scheduled a special meeting for next week to discuss the plan in
more detail.
Agenda Item 7: URA Fiscal Health
Mike Beckstead, Chief Financial Officer, provided an overview of the Urban Renewal Authority (URA)
model history, cash flows, debt and TIF history. Information provided included a summary of cash
inflows and outflow’s based on current projects in the pipe line and debt service and amortizations.
Glen Colton commented that he believes URA financing takes away funding from our school districts and
County. Jim Clark commented that the development may not happen without the assistance, and there
would have not been any additional funds in the first place. Jim also commented that it is OK to focus on
retail, but we need to also focus on businesses that will bring in people to spend on that retail.
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The next meeting is scheduled on April 17, 2013 from 11:00 a.m. – 1:30 p.m.
CIC Room, City Hall