HomeMy WebLinkAboutEconomic Advisory Commission - Minutes - 06/02/20101
Minutes
City of Fort Collins
Economic Advisory Commission
Regular Meeting
300 LaPorte Ave
City Hall
June 2, 2010
11:00 a.m. - 1:30 p.m.
For Reference:
Christophe Febvre, Chair 227-0282
Mayor Doug Hutchinson, Council Liaison 416-2154
Mike Freeman, Staff Liaison 416-2259
Wendy Bricher, Minutes 221-6505
Commission members present:
Bill Timpson, Christophe Febvre, Blue Hovatter, Kevin Shaw, Stu MacMillan
Commission members absent:
Tom Clevenger
Jim Clark
Beena Bawa
Rick Price
Guests:
Ann Hutchison
Dale Adamy
Staff Present:
Mike Freeman, Chief Financial Officer
Josh Birks, Economic Advisor
Wendy Bricher, Minutes
Agenda Item 1: Meeting called to order
Meeting called to order 11:10 a.m.
Agenda Item 2: Approval of minutes
Unanimous approval of minutes dated 5/5/2010
Agenda Item 3: Public Comment
Citizen Dale Adamy spoke to the EAC in support of supporting new city taxes with the continued support and
inclusion of citizen feedback; he supports innovative tax approaches. He would also like to see a city liaison
appointed for the Comcast Franchise contract. Mr. Adamy also supports the idea of a business development team
and a quality of life team.
Agenda Item 4: Follow-up discussion regarding previous meetings
Josh Birks provided an update regarding the Midtown Redevelopment Project. The report was presented to Council
Finance Committee on May 17 and received support from members; additional support was offered by the South
Fort Collins Business Assocation (SFCBA) as well. A letter of commitment to work collaboratively from General
Growth has been received and the EAC can expect to see a kick-off meeting for Phase 2 coming soon. Josh
emphasized that this is a study and not a plan; future action items might include choosing options, financing needs,
Financial Services
300 LaPorte Ave
PO Box 580
Fort Collins, CO 80522
970.221.6505
970.224.6107 - fax
fcgov.com
2
and long term planning. A formal recommendation from the EAC regarding the action items and General Growth
will be presented at the July meeting.
Taxes on fees and services were discussed. Current state tax code prohibits taxes on services and would require a
macro change; policies are being discussed in upcoming legislative sessions regarding this matter.
Agenda Item 5: Member Updates/ Future Agenda Items Discussion and Vote (6 mo planning calendar)
Two addtional Tax diversification/policy discussion items will be included in the follow-up items at the July 7, 2010
meeting; a formal recommendation regarding the Midtown Study will also be presented. Additional agenda items
for the July 7 meeting will include formal discussion and recommendations based on David May’s Economic
Vitality presentation. Future agenda items added include Homeward 2020.
Agenda Item 6: Harmony Corridor Plan Amendment – I-25 Gateway Area
Canceled.
Agenda Item 7: City Plan (City Budget Forecast Projections for 10, 20, and 30 years)
Postponed for future meeting.
Agenda Item 8: Integware - Private Activity Bonds
Mike Freeman presented information on private activity bonds. The presentation included background on bonds,
municipal bonds, and private activity bonds. Private and public benefits were discussed as well as other
considerations.
Max Huff, Chief Technology Officer, presented information regarding Integware, a company expanding in Fort
Collins by utilizing the benefits of a private activity bond to build their new building. Integware provides products
and services for PLM product lifecycle management; they build software that helps medical device manufactures
manage their information to meet FDA requirements. They expect to add up to 200 jobs in Fort Collins over the
next five years.
Blue Hovatter motioned:
The Economic Advisory Commission supports the use of a private activity bond for Integware to expand and build a
new building in Fort Collins.
Motion seconded by Christophe Febvre. The EAC unanimously passed the motion.
Tom Clevenger, Jim Clark, Beena Bawa, and Rick Price abstained from voting as they were not in attendance.
Other Items
Mike Freeman provided a brief overview to the on the HP incentive agreement including project description,
agreement, financial impacts, and economic sustainability,
Meeting adjourned at 1:30 p.m.
Next meeting is scheduled for July 7, 2010 11:00-1:30