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HomeMy WebLinkAboutCOUNCIL - SUMMARY AGENDA - 09/06/2011 - SUMMARY AGENDAKaren Weitkunat, Mayor Kelly Ohlson, District 5, Mayor Pro Tem Council Chambers Ben Manvel, District 1 City Hall West Lisa Poppaw, District 2 300 LaPorte Avenue Aislinn Kottwitz, District 3 Wade Troxell, District 4 Cablecast on City Cable Channel 14 Gerry Horak, District 6 on the Comcast cable system Darin Atteberry, City Manager Steve Roy, City Attorney Wanda Krajicek, City Clerk The City of Fort Collins will make reasonable accommodations for access to City services, programs, and activities and will make special communication arrangements for persons with disabilities. Assisted hearing devices are available to the public for Council meetings. Please call 221-6515 (TDD 224-6001) for assistance. REGULAR MEETING September 6, 2011 Proclamations and Presentations 5:30 p.m. A. Proclamation Declaring September as Poudre Fire Authority Fire Fighters Appreciation Month. B. Proclamation Declaring September 17, 2011 as Cemetery Stroll Day with the theme of “Valuing Our Veterans: Service & Sacrifice”. C. Proclamation Declaring September 10, 2011 as Historic Homes Tour Day. D. Proclamation Declaring September as National Emergency Preparedness Month. Regular Meeting 6:00 p.m. PLEDGE OF ALLEGIANCE 1. CALL MEETING TO ORDER. 2. ROLL CALL. Page 2 3. AGENDA REVIEW: CITY MANAGER 4. CITIZEN PARTICIPATION (limited to 30 minutes) 5. CITIZEN PARTICIPATION FOLLOW-UP This is an opportunity for the Mayor or Councilmembers to follow-up on issues raised during Citizen Participation. CONSENT CALENDAR The Consent Calendar consists of Items 6 through 27. This Calendar is intended to allow the City Council to spend its time and energy on the important items on a lengthy agenda. Staff recommends approval of the Consent Calendar. Anyone may request an item on this Calendar be “pulled” off the Consent Calendar and considered separately. Agenda items pulled from the Consent Calendar will be considered separately under Item No. 37, Pulled Consent Items. The Consent Calendar consists of: ! Ordinance on First Reading that are routine ! Ordinances on Second Reading that are routine ! Those of no perceived controversy ! Routine administrative actions. 6. Consideration and Approval of the Minutes of the August 11, 2011 Special Meeting and the August 16, 2011 Regular Meeting. 7. Second Reading of Ordinance No. 098, 2011, Repealing and Reenacting Division 14, Article III of Chapter 2 of the City Code Dissolving the Electric Board and Creating a New Energy Board. Decisions Council makes today can have a significant impact on the community’s ability to respond to changing conditions in the future. Council needs visionary and innovative advice regarding the community’s energy future as it relates to the Plan Fort Collins goals for a sustainable community. Council is in need of advice from subject matter experts, not just in the electric engineering field, but also other experts who are knowledgeable about such things as how the electrification of transportation impacts carbon emissions and energy consumption. To this end, an Energy Board is being created to replace the Electric Board. The purpose of the Energy Board will be to take a systems approach to the City’s energy future looking out 10 years and beyond and to advise Council on such matters. This Ordinance dissolving the Electric Board and establishing an Energy Board was unanimously adopted on First Reading on August 16, 2011. Individuals who wish to make comments regarding items scheduled on the Consent Calendar or wish to address the Council on items not specifically scheduled on the agenda must first be recognized by the Mayor or Mayor Pro Tem. Before speaking, please sign in at the table in the back of the room. The timer will buzz once when there are 30 seconds left and the light will turn yellow. The timer will buzz again at the end of the speaker’s time. Each speaker is allowed 5 minutes. If there are more than 6 individuals who wish to speak, the Mayor may reduce the time allowed for each individual. ! State your name and address for the record. ! Applause, outbursts or other demonstrations by the audience are not allowed ! Keep comments brief; if available, provide a written copy of statement to City Clerk Page 3 8. Items Relating to the Linden Street Streetscape Project. A. Second Reading of Ordinance No. 099, 2011, Authorizing the Transfer of Existing Appropriations from the Linden Street Streetscape Project to the Cultural Services Fund for the Art in Public Places Program. B. Resolution 2011-072 Approving Expenditures from the Art in Public Places Reserve Account in the Cultural Services and Facilities Fund for the Purpose of Commissioning an Artist to Create Art for the Linden Street Streetscape Project. This Ordinance, unanimously adopted on First Reading on August 16, 2011, appropriates $17,998 for administration, design, materials, installation and contingency for a project with Fort Collins artist Susan Dailey, to create up to twelve granite pavers to be integrated into the streetscape of the Linden Street Streetscape Project. $7,060 has already been appropriated and is available in the Art in Public Places reserve account in the Cultural Services and Facilities Fund to pay for the art project. Resolution 2011-072 approves the expenditures of $25,058 for the design, materials, installation contingency and maintenance for the project. 9. Second Reading of Ordinance No. 100, 2011, Appropriating Unanticipated Revenue in the Cultural Services Fund and in the Capital Projects Fund for the Building on Basics Lincoln Center Renovation Project. The Lincoln Center Renovation project is funded primarily through the Building on Basics capital tax approved by voters in 2005. Unanticipated grant and donation revenue will be used to complete the full scope of the estimated $8.2 million project. Approximately $5.5 million has been appropriated from the Building on Basics tax and $2.6 million from unanticipated grant revenue and prior year reserves in the Cultural Services and General Funds. This Ordinance, unanimously adopted on First Reading on August 16, 2011, appropriates $161,088 to the Cultural Services Fund and $14,620 to the Capital Projects Fund. 10. Second Reading of Ordinance No. 101, 2011, Appropriating Prior Year Reserves in the Cultural Services Fund for Transfer to the Capital Projects Fund and Appropriating Unanticipated Revenue in the Capital Projects Fund for the Fort Collins Museum/Discovery Science Center Project. The Discovery Center, a Colorado non-profit corporation, has provided funds, currently held in the Capital Projects Fund, in the amount of $738,034 in support of the exhibits for the new Fort Collins Museum and Discovery Science Center Joint Facility project. Also, $100,000 from the Fort Collins Museum Donation Reserves are being provided to support the exhibits. Additionally, an estate gift in the amount of $150 has been provided. This Ordinance, unanimously adopted on First Reading on August 16, 2011, appropriates these funds for the project. 11. Second Reading of Ordinance No. 102, 2011, Appropriating Unanticipated Revenue in the Capital Projects Fund, Mason Corridor Project for the South Transit Center Park and Ride. This Ordinance, unanimously adopted on First Reading on August 16, 2011, appropriates funding in the amount of $820,430 received from the Colorado Department of Transportation for the South Transit Center Park and Ride Project, a component of the Mason Corridor Project. 12. Second Reading of Ordinance No. 103, 2011, Appropriating Unanticipated Grant Revenue in the Transportation Services Fund for the FY 2011-2012 Safe Routes to School Program. This Ordinance, unanimously adopted on First Reading on August 16, 2011, appropriates a $99,800 federal grant received through the Colorado Department of Transportation for the FY 2011-12 Safe Routes to School (SRTS) program. This funding will allow the City of Fort Collins’ Safe Routes to School Program (administered and staffed by the Transportation Planning Division) to provide pedestrian and bicycle safety education programs. Page 4 13. Second Reading of Ordinance No. 104, 2011, Appropriating Unanticipated Grant Revenues in the General Fund for Police Services and Appropriating Funds from the Police Operating Budget. Ordinance No. 104, 2011, unanimously adopted on First Reading on August 16, 2011, appropriates a grant in the amount of $45,000 from the Colorado Division of Criminal Justice Juvenile Diversion fund for salaries associated with the continued operation of Restorative Justice Services, which includes the RESTORE program for shoplifting offenses, and the Restorative Justice Conferencing Program for all other offenses. An $8,700 cash match is required and will be met by appropriating funds from the police operating budget designated for Restorative Justice Services. 14. Second Reading of Ordinance No. 105, 2011, Appropriating Proceeds from the Issuance of City of Fort Collins, Stormwater Utility Enterprise, Stormwater Utility Revenue Refunding Bonds, Series 2011A, in the Maximum Aggregate Principal of Amount of $8,750,000 in the Stormwater Utility Fund. This Ordinance, unanimously adopted on First Reading on August 16, 2011, appropriates $8,750,000 to pay off the 2002 Storm Drainage Revenue bonds. The funding source is the proceeds from the 2011A Storm Drainage refunding bonds. Market conditions are such that they can be refinanced at lower interest rates, resulting in an estimated net present value savings of $500,000. 15. Second Reading of Ordinance No. 108, 2011, Authorizing the Conveyance of a Portion of City Property to the Lower Poudre Augmentation Company. Arapaho Bend Natural Area is located along the Cache la Poudre River near I-25 and East Harmony Road. The Lower Poudre Augmentation Company (LPAC) owns property immediately to the south of the portion of Arapaho Bend that lies east of I-25. A wire fence separates the two properties. A recent boundary survey revealed the fence separating the two properties was located slightly north of the described property line. The fence has been in place for greater than 18 years and has been recognized by the Natural Areas Program (NAP) and LPAC as the boundary of the Natural Area since the property was purchased in 2000. The strip of property between the fence and the described boundary line contains 0.703 acres. City staff determined that it was necessary to explore options for cleaning up the boundary issue to ensure clear boundary lines for future access, maintenance and use of the sites for both the NAP and LPAC This Ordinance, unanimously adopted on First Reading on August 16, 2011, authorizes a the conveyance of the 0.703 acre area south of the existing boundary fence in exchange for an access easement across the LPAC property. LPAC has agreed to the exchange. It also has agreed to pay the City an amount equal to fifty percent of the costs to survey and document the new property boundary. 16. First Reading of Ordinance No. 111, 2011, Appropriating Prior Year Reserves and Unanticipated Revenue in Various City Funds. The purpose of this annual “clean-up” Ordinance is to combine dedicated revenues or reserves that need to be appropriated before the end of the year to cover the related expenses that were not anticipated and, therefore, not included in the 2011 budget. The unanticipated revenue is primarily from fees, charges, rents, contributions and grants that have been paid to City departments to offset specific expenses. Prior year reserves are primarily being appropriated for unanticipated operation expenses from reserves that are set aside for that purpose. 17. Items Relating to Updates, Amendments, Deletions and Additions to Chapter 17 of the City Code. A. First Reading of Ordinance No. 112, 2011, Amending Article V of Chapter 17 of the City Code Pertaining to Abandoned Refrigerators and Similar Items. B. First Reading of Ordinance No. 113, 2011, Adding a Section to Article IV of Chapter 17 of the City Code Pertaining to the Violation of Court Orders. C. First Reading of Ordinance No. 114, 2011, Amending Articles VII and VIII of Chapter 17 of the City Code Pertaining to Disorderly Conduct, Harassment and Public Indecency. WITHDRAWN Page 5 D. First Reading of Ordinance No. 115, 2011, Adding a New Section in Article VII of Chapter 17 of the City Code Pertaining to Graffiti Crimes. E. First Reading of Ordinance No. 116, 2011, Amending Article VII of Chapter 17 of the City Code Pertaining to Loitering. F. First Reading of Ordinance No. 117, 2011, Adding a New Section to Article VII of Chapter 17 of the City Code Pertaining to Staying on Medians Prohibited. G. First Reading of Ordinance No. 118, 2011, Amending Article III of Chapter 17 of the City Code Pertaining to Jurisdictional Amount of Various Criminal Offenses. To maintain continuity with federal law, the revised statutes for the State of Colorado, and the needs of citizens of Fort Collins, the Fort Collins City Code must be regularly updated through amendments, deletions, and the creation of new ordinances. These amendments, deletions, and creations of several new ordinances will allow law enforcement to more effectively and efficiently protect and serve the citizens of Fort Collins. 18. First Reading of Ordinance No. 107, 2011, Repealing Section 2-575 of the City Code Relating to the Compensation of Councilmembers. This Ordinance repeals the City Code provision relating to Council compensation. This section is unnecessary because the method for adjusting compensation is set out in the City Charter, and such adjustment is accomplished through administrative action of the City Manager. 19. First Reading of Ordinance No. 119, 2011 Amending Various Provisions of the Fort Collins Traffic Code. The Colorado General Assembly amended certain statutory provisions this legislative session relating to state traffic laws. This Ordinance ensures that the Fort Collins Traffic Code (the “Traffic Code”) is consistent with state traffic laws. During a review of the statutory changes, staff identified additional amendments that would make the Traffic Code more consistent and provide more effective and efficient local enforcement. 20. First Reading of Ordinance No. 120, 2011, Making Various Amendments to the Land Use Code. Staff has identified a variety of proposed changes, additions and clarifications in the 2011 annual update of the Land Use Code. 21. First Reading of Ordinance No. 121, 2011, Authorizing the Conveyance of a Portion of a Tract of Stormwater Utility Property to Kevin P. Caffrey and Julia J. Caffrey. In 1992, the final plat of Clarendon Hills Fifth Filing dedicated Tract E to the City of Fort Collins for the purposes of storm drainage, flood plain management and Department of Parks and Recreation use. The intended purpose of the Parks and Recreation use was for a bike trail. In 1998, the location of the bike trail was changed to be adjacent to Shields Street. To accommodate this change, the City acquired Tracts A, B, and D of Clarendon Hills Fifth Filing for the bike trail that has been constructed and is now in use. Due to the City’s change of use for Tract E, the adjacent property owners, Kevin and Julia Caffrey, have expressed an interest to obtain the portion of Tract E that abuts their property at 5424 Hilldale Court. 22. Resolution 2011-073 Finding Substantial Compliance and Initiating Annexation Proceedings for the Wild Plum Farm Annexation No. 1. The applicant, Shane L. Beckers, the property owner, has submitted a written petition requesting annexation of 0.68 acres located on the east side of North Taft Hill Road, approximately 1,750 feet north of West Vine Drive. The property is developed and is in the FA - Farming District in Larimer WITHDRAWN Page 6 County. The requested zoning for this annexation is UE – Urban Estate. The surrounding properties are currently zoned FA – Farming in Larimer County to the north, west and south; and, UE – Urban Estate in the City (Lincoln Junior High School) to the east. 23. Resolution 2011-074 Finding Substantial Compliance and Initiating Annexation Proceedings for the Wild Plum Farm Annexation No. 2. The applicant, Shane L. Beckers, the property owner, has submitted a written petition requesting annexation of 3.82 acres located on the east side of North Taft Hill Road, approximately 1,750 feet north of West Vine Drive. The property is developed and is in the FA - Farming District in Larimer County. The requested zoning for this annexation is UE – Urban Estate. The surrounding properties are currently zoned FA – Farming in Larimer County to the north, west and south; and, UE – Urban Estate in the City (Lincoln Junior High School) to the east. 24. Resolution 2011-075 Approving the Design of the Restoration of the Coca-Cola/Angell’s Delicatessen Sign on the J. L. Hohnstein Block, 220 East Mountain Avenue. The City has received a State Historic Fund grant from the Colorado Historical Society to protect the Coca-Cola and Angell’s Delicatessen sign on the J. L. Hohnstein Block, 220 East Mountain Avenue. Councilmembers have expressed concern that the sign not be painted to look new, and directed staff to investigate treatment options that would retain the faded look. Four treatment options were originally identified, which were further narrowed to two options. A conservation firm was hired to further investigate both options. Based upon their findings, the consultants are confident that the paint, brick, and mortar can be successfully conserved by reattaching and protecting the existing paint with a consolidating material. If sufficient funding and time remains following the consolidation, a few missing elements of the sign, including the artist’s signature, would also be restored. Staff is now requesting that Council approve the recommended treatment for the restoration and rehabilitation of the Coca-Cola/Angell’s Delicatessen sign. 25. Resolution 2011-076 Assigning a Councilmember as Liaison to the Energy Board. Ordinance No. 098, 2011, adopted on Second Reading this same date, created a new Energy Board. City Council appoints a liaison to each board and commission. This Resolution appoints Councilmember Lisa Poppaw as the Council liaison to the newly created Energy Board. 26. Resolution 2011-077 Making Appointments to Various Boards and Commissions. This Resolution makes appointments to fill current vacancies on the Building Review Board, Commission on Disability, Human Relations Commission, Land Conservation and Stewardship Board, Senior Advisory Board, Transportation Board and Youth Advisory Board. 27. Routine Deed. Deed of dedication from Cottonwood Land and Farms, Ltd., for land under future bridge, on Zeigler Road between Drake and Horsetooth Roads. END CONSENT 28. Consent Calendar Follow-up. This is an opportunity for Councilmembers to comment on items adopted or approved on the Consent Calendar. 29. Staff Reports. 30. Councilmember Reports. Page 7 DISCUSSION ITEMS The method of debate for discussion items is as follows: ! Mayor introduces the item number and subject; asks if formal presentation will be made by staff ! Staff presentation (optional) ! Mayor requests citizen comment on the item (five-minute limit for each citizen) ! Council questions of staff on the item ! Council motion on the item ! Council discussion ! Final Council comments ! Council vote on the item Note: Time limits for individual agenda items may be revised, at the discretion of the Mayor, to ensure all citizens have an opportunity to speak. Please sign in at the table in the back of the room. The timer will buzz when there are 30 seconds left and the light will turn yellow. It will buzz again at the end of the speaker’s time. 31. Items Relating to Amendments to the Definitions in Article I of Chapter 26, the Electric Article of Chapter 26, and to Standards for Interconnection of Electric Generation Facilities. (staff: Steve Catanach, Ginger Purvis; 5 minute staff presentation; 10 minute discussion) A. Second Reading of Ordinance No. 079, 2011, Making Certain Amendments to Chapter 26 of the City Code Pertaining to the Provision of Net Metering Service and Certain Definitions Related Thereto. B. Second Reading of Ordinance No. 080, 2011, Amending Various Provisions of the City Code and the Land Use Code Pertaining to the Definition of General Manager. C. Second Reading of Ordinance No. 081, 2011, Making Certain Amendments to Interconnection Standards for Generating Facilities Connected to the Fort Collins Distribution System. These Ordinances, unanimously adopted on First Reading on July 5, 2011, make minor revisions to the definitions section of Article I and to the Electric Article of Chapter 26 of the City Code and the Land Use Code. These revisions include updating the definition of General Manager, clarification regarding the provision of net metering service and clarification regarding authority to execute interconnection or parallel generation agreements on behalf of the City. Light and Power is also recommending adding clarifying language to the City’s indemnification and insurance requirements contained in the City’s Interconnection Standards. These standards govern operational and other requirements for interconnection generating facilities to the City’s electric distribution system. This item was withdrawn from the August 16th Consent Agenda but was not considered because of the lateness of the hour. 32. Resolution 2011-078 Making Findings of Fact Regarding the Appeal of the June 16, 2011, Planning and Zoning Board Approval of the Amended CSURF Centre for Advanced Technology Overall Development Plan. (staff: Steve Olt; no staff presentation: 15 minute discussion) On June 30, 2011, an appeal of the June 16, 2011 decision of the Planning and Zoning Board to approve the Amended CSURF Centre for Advanced Technology, Overall Development Plan was filed Page 8 by representatives for Windtrail on Spring Creek HOA, Sundering Townhomes HOA, Hill Pond on Spring Creek HOA, Hill Pond Condominium HOA and Windtrail Townhomes HOA. On August 23, 2011, City Council voted to uphold the decision of the Planning and Zoning Board. In order to complete the record regarding this appeal, the Council should adopt a Resolution making findings of fact and finalizing its decision on the appeal. 33. Resolution 2011-079 Makings Findings of Fact Regarding the Appeal of the June 16, 2011, Planning and Zoning Board Approval of the Grove at Fort Collins Project Development Plan. (staff: Steve Olt; no staff presentation: 15 minute discussion) On June 30, 2011, an appeal of the June 16, 2011 decision of the Planning and Zoning Board to approve The Grove at Fort Collins, Project Development Plan was filed by representatives for Windtrail on Spring Creek HOA, Sundering Townhomes HOA, Hill Pond on Spring Creek HOA, Hill Pond Condominium HOA and Windtrail Townhomes HOA. On August 23, 2011, City Council voted to modify the decision of the Planning and Zoning Board to approve the Project Development Plan with two additional conditions. In order to complete the record regarding this appeal, the Council should adopt a Resolution making findings of fact and finalizing its decision on the appeal. 34. Items Relating to the Midtown Urban Renewal Plan. (staff: Christina Vincent, Megan Bolin; 10 minute staff presentation; 30 minute discussion) A. Resolution 2011-080 Adopting the Midtown Existing Conditions Survey and Making Findings Determining an Area Within the City of Fort Collins to Be a Blighted Area and Appropriate for Inclusion in an Urban Renewal Plan. B. Resolution 2011-081 Making Findings and Approving the Urban Renewal Plan for the Midtown Area and Establishing a Tax Increment Financing District for Prospect South. Resolution 2011-080 will adopt the Midtown Existing Conditions Survey and determine the Midtown area is blighted. Resolution 2011-081 will formally adopt the Midtown Urban Renewal Plan (URP) and establish the area referred to as Prospect South as the first tax increment financing (TIF) district. Staff has completed the necessary steps to bring forward the URP. On June 16, 2011, the Planning and Zoning Board made a recommendation that the Midtown URP conforms to the policies and principles of City Plan. Larimer County has reviewed the Midtown URP and the Impact Report for the Prospect South TIF District with staff and resolution was reached about the concerns the County expressed about the Midtown Urban Renewal Plan. 35. Resolution 2011-082 Clarifying the Basis for the Setting of Development Review and Building Permit Fees. (staff: Ann Turnquist, Steve Dush; 10 minute staff presentation; 30 minute discussion) At the June 14, 2011, Work Session, Council discussed a proposed change to the City’s cost recovery philosophy for Building Permit and Plan Check Fees and an increase to these fees. Council directed staff to conduct outreach to affected boards and interests, and bring the issue back to Council for formal consideration. This proposal is consistent with the City’s practice of ensuring that new development pays for the development related service costs. It represents a change of philosophy to move from a goal of collecting 80% of the cost of the entire Development Review Center through fees, toward recovering 100% of the cost of Fee-Related Services though Building Permit and Plan Check Fees. This approach would result in an increase of 0.5% to 6.5% in Building Permit and Plan Check fees, and yield an additional $714,098 in fee revenue to support the Development Review Center. Fee increases would be implemented January 1, 2012. Page 9 36. Resolution 2011-083 Replacing the City’s Appointed Director on the Platte River Power Authority Board of Directors. (staff: Darin Atteberry; 5 minute staff presentation; 15 minute discussion) Platte River Power Authority (PRPA) was established by the cities of Fort Collins, Loveland, Longmont and Estes Park to be their wholesale power provider. The contract establishing PRPA requires each municipality to have two members on the board of directors of PRPA. One is the mayor, and the other is appointed by City Council. This Resolution replaces the Utilities Executive Director with a member of the City Council. 37. Pulled Consent Items. 38. Other Business. 39. Adjournment. Every Council meeting will end no later than 10:30 p.m., except that: (1) any item of business commenced before 10:30 p.m. may be concluded before the meeting is adjourned and (2) the City Council may, by majority vote, extend a meeting until no later than 12:00 a.m. for the purpose of considering additional items of business. Any matter which has been commenced and is still pending at the conclusion of the Council meeting, and all matters scheduled for consideration at the meeting which have not yet been considered by Council, will be continued to the next regular Council meeting and will be placed first on the discussion agenda for such meeting. Karen Weitkunat, President City Council Chambers Kelly Ohlson, District 5, Vice-President City Hall West Ben Manvel, District 1 300 LaPorte Avenue Lisa Poppaw, District 2 Fort Collins, Colorado Aislinn Kottwitz, District 3 Wade Troxell, District 4 Cablecast on City Cable Channel 14 Gerry Horak, District 6 on the Comcast cable system Darin Atteberry, City Manager Steve Roy, City Attorney Wanda Krajicek, City Clerk The City of Fort Collins will make reasonable accommodations for access to City services, programs, and activities and will make special communication arrangements for persons with disabilities. Please call 221-6515 (TDD 224- 6001) for assistance. STORMWATER UTILITY ENTERPRISE MEETING September 6, 2011 (after the Regular Council Meeting) 1. Call Meeting to Order. 2. Roll Call. 3. Consideration and Approval of the Minutes of the August 11, 2011 Regular Meeting. 4. Items Relating to Issuance of Series 2011A, Storm Drainage Revenue Refunding Bonds. (staff: John Voss; no staff presentation; 5 minute discussion) A. Second Reading of Ordinance No. 009, Authorizing the Issuance of City of Fort Collins, Colorado, Stormwater Utility Enterprise, Stormwater Revenue Refunding Bonds, Series 2011A. B. Second Reading of Ordinance No. 010, Amending Ordinance No. 008, Relating to the Stormwater Utility Enterprise, Stormwater Utility Revenue Refunding Bonds, Series 2007A and Series 2007B; Ratifying Action Heretofore Taken Relating to Such Bonds; and Providing Other Matters Relating Thereto. In 2002, the City issued $12.3 million in bonds to provide funding for capital improvements in various stormwater basins within the city. The outstanding balance is currently $8,630,000. Market conditions are such that they can be refinanced at lower interest rates resulting in an estimated savings of $500,000 on a net present value basis. The amending ordinance authorizes the City to contract with US Bank to be the registrar, paying agent, and escrow agent on the 2002, 2007 and 2011 Storm Drainage bonds. Additionally, it eliminates the bond reserve requirement that might otherwise be required for the Series 2011A Bonds. Both Ordinances were unanimously adopted on First Reading on August 11, 2011. STORMWATER UTILITY ENTERPRISE AGENDA 5. Other Business. 6. Adjournment. urban renewal authority Karen Weitkunat, President City Council Chambers Kelly Ohlson, Vice-President City Hall West Ben Manvel 300 LaPorte Avenue Lisa Poppaw Fort Collins, Colorado Aislinn Kottwitz Wade Troxell Gerry Horak Cablecast on City Cable Channel 14 on the Comcast cable system Darin Atteberry, Executive Director Steve Roy, City Attorney Wanda Krajicek, Secretary The City of Fort Collins will make reasonable accommodations for access to City services, programs, and activities and will make special communication arrangements for persons with disabilities. Please call 221-6515 (TDD 224-6001) for assistance. URBAN RENEWAL AUTHORITY MEETING September 6, 2011 (after the Stormwater Utility Enterprise Meeting) 1. Call Meeting to Order. 2. Roll Call. 3. Consideration and Approval of the Minutes of the July 5, 2011 Regular Meeting. 4. Resolution No.038 Approving a Financial Agreement Between the Fort Collins Urban Renewal Authority and Capstone Development Corporation for the Commons Project at 1635 South College Avenue. (staff: Christina Vincent, Megan Bolin; 20 minute staff presentation; 1 hour discussion) The first project for consideration by the Urban Renewal Authority (URA) Board in the Midtown Urban Renewal Plan area with the Prospect South tax increment financing (TIF) district is The Commons by Capstone Development. The project site is located on the southwest corner of College Avenue and Prospect Road behind Chuck E Cheese and Choice Center retail strip, in the mostly vacant 10 acre parcels to the west. The Commons will offer the community a LEED certified, sustainable, mixed use, infill development for students attending Colorado State University (CSU). The project consists of two buildings with 220 units (670 beds) and approximately 8,000 of new retail space on the first floor facing the corner of College Avenue and Stuart Street. Based on the site constraints from floodplain requirements and a site that has been historically undevelopable since the flood of 1997, Capstone is seeking TIF assistance from the URA to make this project financially feasible and address a major community need for student housing. The timing of this project is the impetus to the creation of the Prospect South TIF district. This project has instrumentally used the LEED checklist to ensure its sustainable features not only meet, but exceed the requirements by the URA. Capstone has committed to become LEED certified based on comments heard from the Council Finance September 6, 2011 Committee. The predicted TIF generation from this project is estimated to be $8 million over the 25 year life of the URA plan area. Capstone is seeking $5 million, or 63% of the total TIF generation from the URA Board to cover the funding gap and allow this site to become developable. The financing cost of the $5 million dollar request is estimated at approximately $2 million, or 88% of the total TIF generation. 5. Other Business. 6. Adjournment.