The URL can be used to link to this page

Home My WebLink AboutAgenda - Mail Packet - 12/5/2023 - Urban Renewal Authority (Ura) Meeting Agenda – December 4, 2023Regular Meeting 5:00 p.m. Monday, December 4, 2023 Council Information Center at City Hall, 300 Laporte Avenue, Fort Collins, CO 80521 Zoom Webinar link: https://zoom.us/j/98687657267 NOTICE: Regular meetings of the Urban Renewal Authority are held on the 4th Thursday of each month at City Hall. Meetings are conducted in a hybrid format, with a Zoom webinar in addition to the in person meeting in the Council Information Center. Board members may participate in this meeting via electronic means pursuant to their adopted policies and protocol. How to view this Meeting:: Meetings are open to the public and can be attended in person by anyone. Meetings are televised live on Channels 14 & 881 on cable television. Meetings are livestreamed on the City's website, fcgov.com/fctv Upon request, the City of Fort Collins will provide language access services for individuals who have limited English proficiency, or auxiliary aids and services for individuals with disabilities, to access City services, programs and activities. Contact 970.221.6515 (V/TDD: Dial 711 for Relay Colorado) for assistance. Please provide 48 hours advance notice when possible. A solicitud, la Ciudad de Fort Collins proporcionará servicios de acceso a idiomas para personas que no dominan el idioma inglés, o ayudas y servicios auxiliares para personas con discapacidad, para que puedan acceder a los servicios, programas y actividades de la Ciudad. Para asistencia, llame al 970.221.6515 (V/TDD: Marque 711 para Relay Colorado). Por favor proporcione 48 horas de aviso previo cuando sea posible. Meetings are available through the Zoom platform, electronically or by phone. Meeting agendas, minutes, and archived videos are available on the URA's website at https://www.renewfortcollins.com Email comments about any item on the agenda to cfrickey@fcgov.com by 3:00 PM the day of the meeting In person attendees can address the Board in person. Speakers are required to sign up to speak on sign up sheets on the tables just outside the meeting room. During the public comment portion of the meeting and discussion items: The public can join the Zoom webinar and comment from the remote meeting, joining online or via phone. There are four options for members of the public who would like to participate in URA meetings: Comment in real time:: Join the online meeting using the link in this agenda to log in on an internet-enabled smartphone, laptop or computer with a speaker and microphone. Using earphones with a microphone will greatly improve audio experience. To be recognized to speak during public participation portions of the meeting, click the 'Raise Hand' button. Participate via phone using the call in number and meeting ID below: Call in number: 346-248-7799 Meeting ID: 986 8765 7267 During public participation opportunities in the meeting, press *9 to indicate a desire to speak. Submit written comments:: City of Fort Collins Page 1 of 2 Special Meeting Urban Renewal Authority Board Agenda December 4, 2023 at 5:00 PM Jeni Arndt, Chair Kristin Stephens, Vice Chair Susan Gutowsky Julie Pignataro Tricia Canonico Shirley Peel Kelly Ohlson Emily Francis Kristen Draper Andy Smith Fred Colby Council Information Center (CIC) in City Hall, 300 Laporte Ave, Fort Collins, CO and via Zoom at https://zoom.us/j/98687657267 Cablecast on FCTV Channel 14 on Connexion Channel 17 and 881 on Comcast Caitlin Quander Josh Birks Anissa Hollingshead Brownstein Hyatt Farber Schreck, LLP Acting Executive Director Secretary URBAN RENEWAL AUTHORITY BOARD MEETING 5:00 PM A) PLEDGE OF ALLEGIANCE B) CALL MEETING TO ORDER C) ROLL CALL D) AGENDA REVIEW Executive Director's Review of Agenda. E) PUBLIC PARTICIPATION F) PUBLIC PARTICIPATION FOLLOW-UP G) COMMISSIONER REPORTS H) DISCUSSION ITEMS The method of debate for discussion items is as follows: • Chair introduces the item number and subject; asks if formal presentation will be made by staff • Staff and/or Applicant presentation (optional) • Chair requests public comment on the item (three minute limit for each person) • Board questions of staff on the item • Board motion on the item • Board discussion • Final Board comments • Board vote on the item 1 City of Fort Collins Page 2 of 2 Note: Time limits for individual agenda items may be revised, at the discretion of the Chair, to ensure all have an opportunity to speak. If attending in person, 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. 1. Consideration and Approval of the Minutes for the October 26, 2023 Urban Renewal Authority Board Meeting. The purpose of this item is to approve the minutes of the October 26, 2023 Urban Renewal Authority Board meeting. 2. Public Hearing and Resolution No. 129 Adopting the 2024 Budget for the Fort Collins Urban Renewal Authority. The purpose of this item is to consider adoption of the 2024 budget for the Fort Collins Urban Renewal Authority. Staff submitted two budget offers for the Urban Renewal Authority (URA) as part of the City’s biennial Budgeting for Outcomes (BFO) process in 2022. Since the City produces a two-year budget as part of BFO, staff prepared a two-year budget for the URA for 2023 and 2024. The 2024 budget as presented mirrors the information presented to the Board in 2022 and contains updated revenue and expense forecasts based on the County Assessor’s most recent property reassessment and 2023 expenditures to date. The first budget offer covers the costs of performing core functions of the URA. The second offer is for the URA’s debt service payments. Combined, the total original appropriation for the 2024 URA budget would be $6,121,898. After these expenses, both the North College and Prospect South plan areas would generate excess revenues. Staff forecasts nearly $7.6 million in available cash in the North College plan area and $1.7 million in available cash in the Prospect South plan area by the end of 2024. Public notice of this public hearing was published in the Coloradoan Newspaper on Sunday, November 12, 2023. I) OTHER BUSINESS J) ADJOURNMENT Upon request, the City of Fort Collins will provide language access services for individuals who have limited English proficiency, or auxiliary aids and services for individuals with disabilities, to access City services, programs and activities. Contact 970.221.6515 (V/TDD: Dial 711 for Relay Colorado) for assistance. Please provide 48 hours’ advance notice when possible. A petición, la Ciudad de Fort Collins proporcionará servicios de acceso a idiomas para personas que no dominan el idioma inglés, o ayudas y servicios auxiliares para personas con discapacidad, para que puedan acceder a los servicios, programas y actividades de la Ciudad. Para asistencia, llame al 970.221.6515 (V/TDD: Marque 711 para Relay Colorado). Por favor proporcione 48 horas de aviso previo cuando sea posible. 2 Urban Renewal Authority Agenda Item Summary – Page 1 of 1 December 4, 2023 AGENDA ITEM SUMMARY Urban Renewal Authority STAFF Anissa Hollingshead, Secretary SUBJECT Consideration and Approval of the Minutes for the October 26, 2023 Urban Renewal Authority Board Meeting. EXECUTIVE SUMMARY The purpose of this item is to approve the minutes of the October 26, 2023 Urban Renewal Authority Board meeting. ATTACHMENTS 1. Draft Minutes, October 26, 2023 3 Section H, Item 1. City of Fort Collins Page 476 URBAN RENEWAL AUTHORITY BOARD October 26, 2023 5:04 PM  PLEDGE OF ALLEGIANCE  CALL MEETING TO ORDER Chair Arndt called the meeting to order at 5:04 p.m.  ROLL CALL PRESENT: Arndt, Gutowsky, Pignataro, Canonico, Smith, Stephens, Draper, Colby, and Francis ABSENT: Peel and Ohlson  AGENDA REVIEW Acting Executive Director Birks stated there was particular attention to be drawn to the following agenda items: Item #2: Consideration of a walk-on change to the Urban Renewal Authority Bylaws pertaining to the meeting time presently outlined in the bylaws being corrected to the present meeting times. Item #4: Due to a failure to issue a public notice for a public hearing ahead of the Board’s considerations for the URA 2024 budget adoption the board has the option to postpone the entire item until the next URA Board meeting on December 4 2023. No other changes to the published agenda.  PUBLIC PARTICIPATION None.  COMMISSIONER REPORTS None.  DISCUSSION ITEMS 1. Consideration and Approval of the Minutes for the August 24, 2023 Urban Renewal Authority Board Meeting. The purpose of this item is to approve the minutes of the August 24, 2023 Urban Renewal Authority Board meeting. Vice Chair Stephens made a motion, seconded by Commissioner Francis, to approve the August 24, 2023, meeting minutes.  PUBLIC PARTICIPATION - None. 4 Section H, Item 1. City of Fort Collins Page 477 RESULT: AUGUST 24, 2023 MINUTES APPROVED (UNANIMOUS: 9-0) MOVER: Kristen Stephens SECONDER: Emily Francis AYES: Arndt, Gutowsky, Pignataro, Canonico, Smith, Stephens, Draper, Colby, and Francis EXCUSED: Peel and Ohlson 2. Resolution No. 127 Adopting First Amendment to Urban Renewal Authority Board Bylaws. The purpose of this item is to consider an amendment to the Urban Renewal Authority Board’s bylaws. The current version of the bylaws indicates the Fort Collins City Clerk is Secretary of the Board. The amended bylaws would require the Executive Director to designate a Secretary. This provides more flexibility for who can best fulfill these duties. Commissioner Francis made a motion, seconded by Commissioner Draper, to adopt Resolution No. 127 including making any necessary revisions to Resolution No. 127 to reflect the motion.  PUBLIC PARTICIPATION - None. RESULT: RESOLUTION NO. 127 ADOPTED (UNANIMOUS: 9-0) MOVER: Emily Francis SECONDER: Fred Colby AYES: Arndt, Gutowsky, Pignataro, Canonico, Smith, Stephens, Draper, Colby, and Francis EXCUSED: Peel and Ohlson 3. Resolution No. 128 Authorizing a Supplemental Appropriation for Unanticipated Revenues Received by the Fort Collins Urban Renewal Authority (URA). The purpose of this item is to consider a resolution authorizing a supplemental appropriation for unanticipated revenue from the Foothills Mall URA plan area. Commissioner Francis made a motion, seconded by Commissioner Draper, to adopt Resolution No. 128.  PUBLIC PARTICIPATION - None. RESULT: RESOLUTION NO. 128 ADOPTED (UNANIMOUS: 9-0) MOVER: Emily Francis SECONDER: Kristen Draper AYES: Arndt, Gutowsky, Pignataro, Canonico, Smith, Stephens, Draper, Colby, and Francis EXCUSED: Peel and Ohlson 4. Resolution No. 129 Adopting the 2024 Budget for the Fort Collins Urban Renewal Authority. (Postponed) The purpose of this item is to consider adoption of the 2024 budget for the Fort Collins Urban Renewal Authority. Staff submitted two budget offers for the Urban Renewal Authority (URA) as part of the City’s biennial Budgeting for Outcomes (BFO) process in 2022. Since the City produces a two-year budget as part of BFO, staff prepared a two-year budget for the URA for 2023 and 2024. The 2024 budget as presented mirrors the information presented to the Board in 2022 and contains updated revenue and expense forecasts based on the County Assessor’s most recent property reassessment and 2023 expenditures to date. 5 Section H, Item 1. City of Fort Collins Page 478 The first budget offer covers the costs of performing core functions of the URA. The second offer is for the URA’s debt service payments. Combined, the total original appropriation for the 2024 URA budget would be $6,121,898. After these expenses, both the North College and Prospect South plan areas would generate excess revenues. Staff forecasts nearly $7.6 million in available cash in the North College plan area and $1.7 million in available cash in the Prospect South plan area by the end of 2024. Commissioner Francis made a motion, seconded by Commissioner Canonico, to postpone Resolution No. 129, Adopting the 2024 Budget for the Fort Collins Urban Renewal Authority until the December 4, 2024 Urban Renewal Authority Board meeting.  PUBLIC PARTICIPATION - None. RESULT: RESOLUTION NO. 129 POSTPONED (UNANIMOUS: 9-0) MOVER: Emily Francis SECONDER: Kristen Draper AYES: Arndt, Gutowsky, Pignataro, Canonico, Smith, Stephens, Draper, Colby, and Francis EXCUSED: Peel and Ohlson  OTHER BUSINESS A. Consideration of a motion to go into Executive Session to discuss the potential purchase or acquisition of real property interests, to receive legal advice on specific legal questions, and to determine positions relative to matters that may be subject to negotiations related to the former Albertsons site. Commissioner Francis made a motion that the Fort Collins Urban Renewal Authority go into Executive Session pursuant to: C.R.S. § 24-6-402(4)(a), (b) and (e) For the purpose of discussing with the Authority’s attorneys and appropriate management staff the following items, all related to the former Albertsons site: • Potential Purchase or Acquisition of Real Property Interests, • Specific Legal Advice on Specific Legal Questions, and • Determine Positions Relative to Matters that may be Subject to Negotiations, Develop Strategy for Negotiations and Instruct Negotiators; and that at the conclusion of the Executive Session that the Urban Renewal Authority meeting be automatically adjourned without reconvening in the regular meeting. Commissioner Pignataro seconded the motion. The motion carried 9-0. (**Secretary’s Note: The Board went into Executive Session at 5:29 p.m. and adjourned at 6:18 p.m.) 6 Section H, Item 1. City of Fort Collins Page 479  ADJOURNMENT The meeting adjourned at 6:18 p.m. ___________________________________ Chair ATTEST: ___________________________________ Secretary 7 Section H, Item 1. Urban Renewal Authority Agenda Item Summary – Page 1 of 3 December 4, 2023 AGENDA ITEM SUMMARY Urban Renewal Authority STAFF Josh Birks, Acting Executive Director SUBJECT Public Hearing and Resolution No. 129 Adopting the 2024 Budget for the Fort Collins Urban Renewal Authority. EXECUTIVE SUMMARY The purpose of this item is to consider adoption of the 2024 budget for the Fort Collins Urban Renewal Authority. Staff submitted two budget offers for the Urban Renewal Authority (URA) as part of the City’s biennial Budgeting for Outcomes (BFO) process in 2022. Since the City produces a two-year budget as part of BFO, staff prepared a two-year budget for the URA for 2023 and 2024. The 2024 budget as presented mirrors the information presented to the Board in 2022 and contains updated revenue and expense forecasts based on the County Assessor’s most recent property reassessment and 2023 expenditures to date. The first budget offer covers the costs of performing core functions of the URA. The second offer is for the URA’s debt service payments. Combined, the total original appropriation for the 2024 URA budget would be $6,121,898. After these expenses, both the North College and Prospect South plan areas would generate excess revenues. Staff forecasts nearly $7.6 million in available cash in the North College plan area and $1.7 million in available cash in the Prospect South plan area by the end of 2024. Public notice of this public hearing was published in the Coloradoan Newspaper on Sunday, November 12, 2023. STAFF RECOMMENDATION Staff recommends adoption of the Resolution. BACKGROUND / DISCUSSION The Urban Renewal Authority (URA) participates in the City’s biennial Budgeting for Outcomes (BFO) process when establishing its budget. The URA follows a process that incorporates the feedback of all URA Board members while still participating in the BFO process. Staff submitted initial budget offers as part of BFO in April, 2022. Staff provided a preview of the budget via memo on September 23, 2022 and presented the budget to the Finance Committee on October 13, 2022. The Finance Committee supported the budget as presented. The URA Board then adopted the 2023 budget on October 27, 2022. Staff presented forecasts and budget offers for 2024 as part of the 2023 budget adoption. The 2024 budget as presented mirrors the information presented to the Board in 2022 and contains updated revenue and expense forecasts based on the County Assessor’s most recent property reassessment and 2023 expenditures to date. 8 Section H, Item 2. Urban Renewal Authority Agenda Item Summary – Page 2 of 3 Overview of Budget Offers The budget offer consists of two elements: operational costs and debt service. Both elements are ongoing budget offers, meaning they are essential to running the day-to-day operations of the URA. Operational costs cover the costs of staffing, insurance, and retaining legal counsel, amongst other costs. The debt service budget offer covers payments of all outstanding debt for all plan areas. The table below summarize the amount of money staff seeks for appropriation to fund these budget offers and a comparison to the 2023 budget: Offer Name 2023 Budget 2024 Budget Request Offer 66.1 – URA Core Offer $665,216 $682,345 Offer 66.2 – URA Debt Service $5,340,153 $5,439,553 Total $6,005,369 $6,121,898 Changes in the 2024 URA budget compared to the 2023 budget include:  Reduced property tax, Tax Increment Financing (TIF), revenue and developer repayment for Foothills Mall based on preliminary August 2023 report.  Small increases in operating costs and debt service including hourly personnel support and small incremental increases for personnel and anticipated inflationary costs over 2023 budget amounts.  TIF increases for North College and Prospect South due to increased property values.  2024 Property Tax was based originally on the 2022 TIF Warrant with an inflation value applied. Revenue Increment was increased in cash flow forecasts to reflect the preliminary values in the august 2023 Warrant report. Both the North College and Prospect South plan areas will generate excess revenues with the current proposed budget. By the end of 2024, North College is anticipated to have nearly $7.6 million in cash available while Prospect South will have close to $1.7 million in cash available. The Foothills Mall plan area passes TIF revenues to the Foothills Metro District, leaving the URA with no excess revenues to invest in other priorities. Expense Type North College Prospect South Cash Inflows 2024 $4,389,941 $883,849 Cash Outflows 2024 ($1,735,693) ($458,794) Net Change in Cash 2024 $2,654,248 $425,055 Projected Ending Cash Balance 2023 $5,885,838 $1,677,150 Projected Ending Cash Balance 2024 $8,540,086 $2,102,205 Restricted Cash Balance 2024 ($946,363) ($370,194) Net Available Cash Balance Ending 2024 $7,593,723 $1,732,011 Collections of TIF revenue are on track and/or above estimates for 2023. With the County Assessor reassessing property values in 2021-2023 and the URA collecting property taxes a year in arrears, staff expect stable revenues through 2023-2024. COMMITTEE RECOMMENDATION URA staff was scheduled to present the proposed 2024 budget to the URA Finance Committee on October 12, 2023. The Finance Committee was unable to achieve a quorum and as a result, did not provide a recommendation. 9 Section H, Item 2. Urban Renewal Authority Agenda Item Summary – Page 3 of 3 AUTHORITY FINANCIAL IMPACTS None. PUBLIC OUTREACH None. ATTACHMENTS 1. Resolution for Consideration 2. Exhibit A to Resolution 3. Exhibit B to Resolution 4. Exhibit C to Resolution 5. Exhibit D to Resolution 6. URA Budget Offers from BART 7. 2024 Revenue Forecast 8. Tax Increment Financing Revenue Year to Date 9. Presentation 10 Section H, Item 2. 1 RESOLUTION NO. 129 OF THE BOARD OF COMMISSIONERS OF THE FORT COLLINS URBAN RENEWAL AUTHORITY ADOPTING THE 2024 BUDGET FOR THE FORT COLLINS URBAN RENEWAL AUTHORITY WHEREAS, the Fort Collins Urban Renewal Authority (the “URA”) was created on January 5, 1982, by City Council’s adoption of Resolution 1982-010, which resolution designated the City Council as the URA’s Board of Commissioners (“Board”); and WHEREAS, the URA operates to eliminate blight and prevent the spread of blight within urban renewal areas in accordance with the Colorado Urban Renewal Law, C.R.S. Section 31-25- 101, et seq.; and WHEREAS, the URA currently has four approved urban renewal plan areas that collect tax increment revenues and have annual expenditures, and these are known as the North College Area, the Prospect South Area, the Foothills Area, and College and Drake Area (collectively, the “Areas”); and WHEREAS, the Board has considered a proposed budget for fiscal year 2024 for each of the Areas and it wishes to adopt them as the URA’s fiscal year 2024 budget in accordance with the Local Government Budget Law of Colorado, C.R.S. Section 29-1-101, et seq. (the “Budget Law”); and WHEREAS, attached as Exhibit “A” and incorporated herein is the URA’s fiscal year 2024 budget message for the URA and the Areas as required by the Budget Law (the “Budget Message”); and WHEREAS, attached as Exhibit “B” and incorporated herein are the North College Area’s 2024 budget statement showing anticipated revenues and proposed expenditures and its comparative budget statement showing beginning and ending fund balances (jointly, the “North College Area Budget”); and WHEREAS, attached as Exhibit “C” and incorporated herein are the Prospect South Area’s 2024 budget statement showing anticipated revenues and proposed expenditures and its comparative budget statement showing and beginning and ending fund balances (jointly, the “Prospect South Area Budget”); and WHEREAS, attached as Exhibit “D” and incorporated herein are the Foothills Area’s 2024 budget statement showing anticipated revenues and proposed expenditures and its comparative budget statement showing beginning and ending fund balances (jointly, the “Foothills Area Budget”); and WHEREAS, the College and Drake Area’s 2024 budget statement showing anticipated revenues and proposed expenditures forecast less than $2,000 and as there are no expenses anticipated in 2024 a budget exhibit is not attached (the “College and Drake Area Budget”); and 11 Section H, Item 2. 2 WHEREAS, the Budget Message, the North College Area Budget, the Prospect South Area Budget, the Foothills Area Budget, and the College and Drake Area Budget shall be collectively referred to as the “2024 URA Budget.” NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE FORT COLLINS URBAN RENEWAL AUTHORITY AS FOLLOWS: Section 1. That the Board hereby makes and adopts the determinations and findings contained in the recitals set forth above. Section 2. That the 2024 URA Budget is hereby approved and the revenue amounts stated therein are appropriated for expenditure as stated in the 2024 URA Budget. Section 3. That the Chief Financial Officer of the City, ex-officio the Financial Officer and Secretary of the URA, is hereby directed to file a certified copy of the 2024 URA Budget with the office of the Division of Local Government, Department of Local Affairs, State of Colorado as required by the Budget Law. Passed and adopted at a special meeting of the Board of Commissioners of the City of Fort Collins Urban Renewal Authority this 4th day of December, 2023. ___________________________________ Kristin Stephens, Vice Chair ATTEST: ___________________________________ Anissa Hollingshead, Secretary 12 Section H, Item 2. EXHIBIT A TO RESOLUTION NO. 129 Fort Collins Urban Renewal Authority (URA) Budget Message Fiscal Year 2024 Budget Budget Features The URA’s 2024 budget is comprised of the budgets for the URA’s current plan areas and associated districts, known as the North College District, the Prospect South District, the Foothills District, and the Drake & College District. The budget includes revenues from property and sales tax increment (where applicable), interest earned on investments, and expenses which include general operations, project obligations and debt service payments. The URA aims to deliver services which achieve the objectives specified by the individual urban renewal plans for each of the four districts. These include: •To facilitate redevelopment and new development by private enterprise through cooperation among developers and public agencies to plan, design, and build needed improvements •To address and remedy conditions in the area that impair or arrest the sound growth of the City •To implement the City’s Comprehensive Plan and its related elements •To redevelop and rehabilitate the plan area in a manner which is compatible with and complementary to unique circumstances in the area •To effectively utilize undeveloped and underdeveloped land •To improve pedestrian, bicycle, and vehicular circulation and safety •To ultimately contribute to increased revenues for all taxing entities •To encourage the voluntary rehabilitation of buildings, improvements and conditions •To facilitate the enforcement of the laws and regulations applicable to the plan area •To watch for market and/or project opportunities to eliminate blight , and when such opportunities exist, to act within the financial, legal and political limits of the URA to acquire land, demolish and remove structures, provide relocation benefits, and pursue redevelopment, improvement, and rehabilitation projects. 13 Section H, Item 2. EXHIBIT A Summary of the Adopted 2024 URA Budgets •North College URA 1) Tax Increment Collections in 2024 are based on the August 2023 certification 13 Section H, Item 2. EXHIBIT A TO RESOLUTION NO. 129 of the 2023 property tax (that will be collected in 2024) with a projected a 45% increase in TIF revenue for 2024. 2) The Larimer County Fee 2% of tax collections remitted to the County. The 2024 budget is based on the August 2023 certification of the 2023 property tax (that will be collected in 2024) with a projected a 45% increase in TIF revenue for 2024. 3) Operating expenses are budgeted 6% higher in 2024 than 2023 due to increase in personnel costs, increases in consulting and legal services in anticipation of work on Albertson's site. 4) The Lyric redevelopment agreement will require an estimated $19k in payments in 2023. 14 Section H, Item 2. •Prospect South URA 1) Tax Increment Collections in 2024 are based on the August 2023 certification of the 2023 property tax (that will be collected in 2024) with a projected a 28% increase in TIF revenue for 2024. 2) The Larimer County Fee 2% of tax collections remitted to the County. The 2024 budget is based on the August 2023 certification of the 2023 property tax (that will be collected in 2024) with a projected a 28% increase in TIF revenue for 2024. 3) The Prospect South General Operations expense is an estimate of staff time and other expenses attributable to the URA which will be reimbursed to the North College URA annually. •Foothills Mall URA 1) Tax Increment Collections in 2024 are based on the August 2023 certification of the 2022 property tax (that will be collected in 2024) with a projected a -25% decrease in TIF revenue for 2024. 2) Sales Tax Increment Collections for 2023 are $661,753. The 2024 budgets are somewhat conservative at $400,000 due to the unknown schedule for the redevelopment of the Mall. 3) The City keeps 1.5% of the Property Tax increment for administrative costs which will be reimbursed to the North College URA annually. •Drake & College District URA 1) Property tax increments collections are forecast at less than $2,000 for each year based on 2021,2022, and 2023 collections. There are no expenses anticipated for this URA in 2024 so we did not enter a budget for approval for this URA. 14 Section H, Item 2. EXHIBIT A TO RESOLUTION NO. 129 Budgetary Basis of Accounting The URA budget and fund financial statements are prepared on the modified accrual basis of accounting. 15 15 Section H, Item 2. 2021 Actual 2022 Actual 2023 Budget 2024 Budget Request 2023-2024 $ Budget Change 2022-2023 % Change Revenue: Property Tax Increment Collections $2,601,592 $3,039,356 $3,030,000 $3,121,000 $91,000 3% Interest on Investments (11,936)(144,609)31,364 32,800 1,436 5% Total Revenue $2,589,656 $2,894,747 $3,061,364 $3,153,800 $92,436 3% Expenses: Operations General Operations/Admin $231,374 $239,077 $356,366 $367,175 $10,809 3% Larimer County Fee 52,104 60,787 60,600 62,420 1,820 3% Developer Payment 43,650 9,939 18,000 19,000 1,000 6% Operational Costs $327,128 $309,803 $434,966 $448,595 $13,629 3% Debt Service - Bonds Principal $665,000 $690,000 $715,000 $745,000 $30,000 4% Interest 283,963 257,363 229,763 201,163 (28,600)-12% Debt Service Costs $948,963 $947,363 $944,763 $946,163 $1,400 0% Debt Service - RMI2 Principal $288,568 $295,781 $311,884 $319,681 $7,797 2% Interest 31,320 24,047 16,462 8,665 (7,797)-47% Debt Service Costs $319,888 $319,828 $328,346 $328,346 $0 0% Total Expense $1,595,979 $1,576,994 $1,708,075 $1,723,104 $15,029 1% Net Change in Fund Balance $993,678 $1,317,753 $1,353,290 $1,430,697 $336,110 25% Prior Year Fund Balance $2,221,118 $3,214,796 $4,532,549 $5,885,838 Current Year Projected Fund Balance $3,214,796 $4,532,549 $5,885,838 $7,316,535 Notes 2024 Property Tax based was based originally on the 2022 TIF Warrant with an inflation value applied. Values represented for Appropriation purposes   Outstanding debt at the end of:2023 2024 Market Bonds $4,945,000 $4,200,000 RMI2 GF Debt $346,594 $26,913 $5,291,594 $4,226,913 URBAN RENEWAL AUTHORITY NORTH COLLEGE DISTRICT 2023-2024 BUDGET REQUEST In 2022, URA payment due on the Lyric project per the redevelopment agreements was $9,939. This is expected to be $19,000 in 2023. Operating expenses are budgeted 6% higher in 2024 due to a partial Business Support position added, minimal annual increases in personnel costs and anticipated inflationary costs. (;+,%,7%725(62/87,2112 16 Section H, Item 2. 2021 Actual 2022 Actual 2023 Budget 2024 Budget Request 2023-2024 $ Budget Change 2023-2024 % Change Revenue: Property Tax Increment Collections $723,551 $689,385 $691,000 $704,000 $13,000 2% Interest on Investments (3,758)(42,905)9,382 9,812 430 5% Total Revenue $719,793 $646,480 $700,382 $713,812 $13,430 2% Expenses: Operations General Operations/Admin $42,018 $37,890 $67,250 $67,250 $0 0% Larimer County Fee 14,471 13,788 14,000 14,500 500 4% Developer Payment 11,762 11,762 12,000 12,000 0 0% Operational Costs $68,251 $63,440 $93,250 $93,750 $500 1% Debt Service - Bonds Principal $220,000 $230,000 $240,000 $250,000 $10,000 4% Interest 149,544 138,544 127,044 115,044 (12,000)-9% Debt Service Costs $369,544 $368,544 $367,044 $365,044 ($2,000)-1% Total Expense $437,795 $431,984 $460,294 $458,794 ($1,500)0% Net Change in Fund Balance $281,998 $214,496 $240,088 $255,018 ($65,934)-27% Prior Year Fund Balance $940,568 $1,222,566 $1,437,062 $1,677,150 Current Year Projected Fund Balance $1,222,566 $1,437,062 $1,677,150 $1,932,168 Notes 2024 Property Tax based was based originally on the 2022 TIF Warrant with an inflation value applied. Values represented for Appropriation purposes Outstanding debt at the end of:2023 2024 Market Bonds $4,080,000 $3,830,000 URBAN RENEWAL AUTHORITY PROSPECT SOUTH DISTRICT 2023-2024 BUDGET REQUEST (;+,%,7&725(62/87,2112 17 Section H, Item 2. 2020 Actual 2021 Actual 2022 Actual 2023 Forecast 2023 Budget 2024 Budget Request 2023-2024 $ Budget Change 2022-2023 % Change Revenue: Property Tax Increment Collections $2,858,801 $3,880,085 $3,327,492 $3,366,444 $3,321,000 $3,387,000 $66,000 2% Sales Tax Increment 421,281 (5,394)661,753 807,962 400,000 400,000 0 0% Interest on Investments 10,470 2,917 6,913 25,201 0 0 0 Total Revenue for the URA $3,290,552 $3,877,608 $3,996,158 $4,199,607 $3,721,000 $3,787,000 $66,000 2% Expenses: Operations General Operations/Admin $45,910 $58,201 $42,882 35,836.37 $70,000 $72,000 $2,000 3% Larimer County Fee 67,132 77,602 66,550 67,329 67,000 68,000 1,000 1% Operational Costs $113,042 $135,803 $109,432 $103,165 $137,000 $140,000 $3,000 2% Developer Payment $3,172,600 $3,745,969 $3,869,732 $3,996,425 $3,700,000 $3,800,000 $100,000 3% Total Expense $3,285,642 $3,881,772 $3,979,164 $4,099,591 $3,837,000 $3,940,000 $103,000 3% Net Change in Fund Balance $4,910 ($4,164)$16,994 $100,016 ($116,000)($153,000)($37,000) Prior Year Fund Balance $1,693 $6,603 $2,439 $2,439 $19,433 ($96,567)($249,567) Current Year Projected Fund Balance $6,603 $2,439 $19,433 $102,455 ($96,567)($249,567)($286,567) Notes 2024 Property Tax based was based originally on the 2022 TIF Warrant with an inflation value applied. Values represented for Appropriation purposes 2023 Sales Tax increment based on estimate of average collection over the last few years  URBAN RENEWAL AUTHORITY FOOTHILLS MALL DISTRICT 2023-2024 BUDGET REQUEST Operating expenses budgeted slightly higher in 2023 than 2022 to cover possibility of increased Sales Tax increment based on 2022 actual (was too late in budget process to change revenue). Will be reflected in Developer Payment. (;+,%,7'725(62/87,2112 18 Section H, Item 2. City of Fort Collins 2023 - 2024 Offer Narratives Economic Health Offer 34.1: Urban Renewal Authority Offer Type: Ongoing 2024: $682,345 and 1.90 FTE (excluding hourly staffing) 2023: $665,216 and 1.90 FTE (excluding hourly staffing) Offer Summary This offer funds Urban Renewal Authority (URA) administration and operations. The URA brings together local tax-collecting organizations to collaborate and remediate blight to create a better community for everyone. The URA currently has four active tax increment financing (TIF) districts. The URA program makes important contributions to the City’s vibrancy with an emphasis on triple bottom-line benefits and placemaking. URA’s revitalization objectives include: •Create vibrant neighborhoods •Support projects that achieve objectives outlined in Community Investment Plans •Catalyze projects and accelerate investments that would not otherwise happen, thereby creating improvements with lasting value •Encourage development projects that enhance local character, culture, economy and quality of life •Improve public infrastructure (streets, storm drainage, sewer, utilities, etc.) in areas where deficiencies exist •Incentivize high efficiency buildings and development projects in support of Our Climate Future •Retain, expand and attract businesses for the purpose of improving the City’s economic base as demonstrated by projects that retain/create jobs, increase the manufacturing base, etc. •Create destination locations, including mixed use projects, that will capture additional revenue to the area •Support a spectrum of housing affordability options •Protect natural habitats and features •Remove impediments to desired development •Encourage development that is consistent with City Plan, subarea plans and approved Urban Renewal Plans •Create, accelerate and enhance projects that meet broader community objectives including those of taxing entities The URA is not dependent on the General Fund; funding comes from incremental property and sales tax revenues resulting from new activity enabled and catalyzed by URA investments. Data As Of: 10/6/22 at 1:48 Page 1 of 72.2.03 Offer Detail by Outcome - 34.1: Urban Renewal Authority 19 Section H, Item 2. Economic Health Offer 34.1: Urban Renewal Authority Offer Type: Ongoing This Offer supports the following Strategic Objectives (the primary objective is marked with a ü): ECON 3.1 - Collaborate with local and regional partners to achieve economic resilience in Northern Colorado. ü ECON 3.4 - Utilize tools and partnerships to leverage infill and redevelopment opportunities to achieve development consistent with City Plan and supporting the City’s broader strategic objectives. - Additional Information Existing Areas: (1) North College - centered on College Avenue from Vine Drive north to the City boundary and 1/4 mile either side of College; (2) Prospect South - centered on College Avenue from Prospect Road south to just north of Whole Foods and east/west to encompass the commercial development; (3) Foothills - Encompasses the mall property and some public right-of-way - Existing Areas, continued: (4) College and Drake – contains Spradley Barr Mazda and former Kmart sites along with the intersections of College and Drake, Drake and railroad tracks, and Drake and Redwing. - We use GARE's equitable development framework as a way to assess and frame the URA's investments. This helps us ensure we invest in projects and programs that further our goals around equity and inclusion within our plan areas. We are building a data dashboard that will track demographics, investment, property values, and other indicators to help us ensure our actions yield more equitable outcomes - For the North College plan area, we have been working with the Latino/Latinx community on developing a community hub that would provide resources to the whole community but with a particular emphasis on the Latino/Latinx community. Spanish is the default language in these meetings rather than English. Our communications are also in Spanish by default. - Links to Further Details: - Not applicable Linkage to Strategic Objectives (the primary objective is marked with a ü) ECON 3.1 - Collaborate with local and regional partners to achieve economic resilience in Northern Colorado.: The URA works with other governmental partners to support development projects that create housing and economic opportunities, leading to improved economic resilience in Northern Colorado. ü ECON 3.4 - Utilize tools and partnerships to leverage infill and redevelopment opportunities to achieve development consistent with City Plan and supporting the City’s broader strategic objectives.: The URA works with other governmental partners, community groups and developers to leverage infill and development opportunities. - Data As Of: 10/6/22 at 1:48 Page 2 of 72.2.03 Offer Detail by Outcome - 34.1: Urban Renewal Authority 20 Section H, Item 2. Economic Health Offer 34.1: Urban Renewal Authority Offer Type: Ongoing Improvements & Efficiencies The URA has worked with the Stormwater and Engineering Departments to identify a unified approach to managing stormwater detention and water quality on the west side of College Avenue in the North College Plan Area with an outfall into the Poudre River. These stormwater facilities will be integrated with an ultimate alignment and design for Mason Street from Willox to Alpine. - The URA Board has adopted investment plans for the North College and Prospect South plan areas. These plans provide greater clarity on the types of projects the Authority intends to support. These investment plans utilize the GARE Equitable Development Framework as their basis supported by a series of metrics and indicators. This will help ensure the URA advances equity for all, leading with race. - The URA adopted its first Strategic Plan in 2020. The Strategic Plan establishes how the Urban Renewal Authority supports redevelopment while also supporting the communities in which it operates. The Strategic Plan has a series of guiding principles and tactics that keep ensure the Urban Renewal Authority acts to build community through redevelopment. - Performance Metrics -ECON 60. Survey - Percent of businesses rating a positive performance of economic health initiatives https://publish.clearpointstrategy.com/594/Measures/scorecardId=6280&object=measure&objectId=55807 8.html Performance Measure Reason: Tax Increment Financing (TIF) provides an incentive for developers to invest in property and create development that would otherwise be infeasible Differences from Prior Budget Cycles N/A- Explanation of Any Adjustments to Personnel Costs using object 519999 Pay differential for Deputy Director position- Offer Profile Offer Owner: RRogers Lead Department: Urban Renewal Authority Financial Lead: wbricher Data As Of: 10/6/22 at 1:48 Page 3 of 72.2.03 Offer Detail by Outcome - 34.1: Urban Renewal Authority 21 Section H, Item 2. Economic Health 2023 Projected Budget 2024 Projected Budget 34.1: Urban Renewal Authority 2023 to 2024 Change Ongoing Programs and Services Offer Type: Ongoing Full Time Equivalent (FTE) Staffing 1.90 1.90 - % Expenses 204,747 195,929 4.5%511000 - Salaries & Wages 56,852 54,412 4.5%512000 - Benefits (6,674)(6,225) 7.2%519000 - Other Personnel Costs 254,925 244,116 510000 - Personnel Services 4.4% 342,920 339,600 1.0%521000 - Professional & Technical 17,000 15,000 13.3%529000 - Other Prof & Tech Services 359,920 354,600 520000 - Purchased Prof & Tech Services 1.5% 31,000 30,000 3.3%535000 - Construction Services 31,000 30,000 530000 - Purchased Property Services 3.3% 25,000 25,000 - %541000 - Insurance 1,500 1,500 - %542000 - Communication Services 2,000 2,000 - %544000 - Employee Travel 3,000 3,000 - %549000 - Other Purchased Services 31,500 31,500 540000 - Other Purchased Services - % 3,000 3,000 - %555000 - Office & Related Supplies 2,000 2,000 - %559000 - Other Supplies 5,000 5,000 550000 - Supplies - % 682,345 665,216 Total Expenses 2.6% Funding Sources 800-URA N. College District: Ongoing Revenue Ongoing Restricted 665,216 682,345 2.6% 682,345 665,216 Funding Source Total 2.6% Data As Of: 10/6/22 at 1:48 Page 4 of 72.2.03 Offer Detail by Outcome - 34.1: Urban Renewal Authority 22 Section H, Item 2. Economic Health Offer 34.2: Urban Renewal Authority Debt Service Offer Type: Ongoing 2024: $5,439,553 and 0.00 FTE (excluding hourly staffing) 2023: $5,340,153 and 0.00 FTE (excluding hourly staffing) Offer Summary This offer funds the payment of Urban Renewal Authority (URA) debt and obligation payments across three tax increment financing (TIF) districts. The College and Drake URA does not have obligation payments since it was established in 2020. These debts and obligations include bond payments (North College and Foothills Mall), Redevelopment/Project Agreements, and City loan agreements. The URAs issue debt to help finance various development projects in the URA districts, such as the King Sooper Marketplace and The Lyric in the North College URA. The debt service expense is paid for by the tax increment revenue collected by the URA districts over the life of the URA (30 years). The URA uses tax increment funding for all debt and obligation payments; the URA is not dependent on the General Fund. This Offer supports the following Strategic Objectives (the primary objective is marked with a ü): ECON 3.1 - Collaborate with local and regional partners to achieve economic resilience in Northern Colorado. ü ECON 3.4 - Utilize tools and partnerships to leverage infill and redevelopment opportunities to achieve development consistent with City Plan and supporting the City’s broader strategic objectives. - Additional Information This offer allows the URA to service debt and is, therefore, linked to the ongoing operations of the URA in terms of addressing equity. Please see the ongoing offer for the URA for more information about how the URA has adjusted its operations to better address equity. - Links to Further Details: - Not applicable Linkage to Strategic Objectives (the primary objective is marked with a ü) ECON 3.1 - Collaborate with local and regional partners to achieve economic resilience in Northern Colorado.: The URA pledges TIF to pay for debt it issues. The success of the URA's debt service offer is, therefore, linked to the effectiveness of TIF as an incentive for development. ü Data As Of: 10/6/22 at 1:48 Page 5 of 72.2.03 Offer Detail by Outcome - 34.2: Urban Renewal Authority Debt Service 23 Section H, Item 2. Economic Health Offer 34.2: Urban Renewal Authority Debt Service Offer Type: Ongoing ECON 3.4 - Utilize tools and partnerships to leverage infill and redevelopment opportunities to achieve development consistent with City Plan and supporting the City’s broader strategic objectives.: The URA utilizes borrowing when needed to leverage infill and redevelopment opportunities to achieve development consistent with City Plan and supporting the City’s broader strategic objectives. - Improvements & Efficiencies N/A- Performance Metrics -ECON 60. Survey - Percent of businesses rating a positive performance of economic health initiatives https://publish.clearpointstrategy.com/594/Measures/scorecardId=6280&object=measure&objectId=55807 8.html Performance Measure Reason: The URA pledges TIF to pay for debt it issues . The success of the URA's debt service offer is, therefore, linked to the effectiveness of TIF as an incentive for development. Differences from Prior Budget Cycles Not applicable- Explanation of Any Adjustments to Personnel Costs using object 519999 N/A- Offer Profile Offer Owner: RRogers Lead Department: Urban Renewal Authority Financial Lead: wbricher Data As Of: 10/6/22 at 1:48 Page 6 of 72.2.03 Offer Detail by Outcome - 34.2: Urban Renewal Authority Debt Service 24 Section H, Item 2. Economic Health 2023 Projected Budget 2024 Projected Budget 34.2: Urban Renewal Authority Debt Service 2023 to 2024 Change Ongoing Programs and Services Offer Type: Ongoing Full Time Equivalent (FTE) Staffing - - - % Expenses 3,800,000 3,700,000 2.7%535000 - Construction Services 3,800,000 3,700,000 530000 - Purchased Property Services 2.7% 1,639,553 1,640,153 - %581000 - Debt Service 1,639,553 1,640,153 580000 - Debt & Other Uses - % 5,439,553 5,340,153 Total Expenses 1.9% Funding Sources 800-URA N. College District: Ongoing Revenue Ongoing Restricted 5,340,153 5,439,553 1.9% 5,439,553 5,340,153 Funding Source Total 1.9% Data As Of: 10/6/22 at 1:48 Page 7 of 72.2.03 Offer Detail by Outcome - 34.2: Urban Renewal Authority Debt Service 25 Section H, Item 2. 26 Section H, Item 2. 27 Section H, Item 2. Tax District Forecast 2023- 2030 (8 years)TOTAL Total TIF % of Total Poudre R-1 School District $12,394,932 58.1%$16,429,118 $28,824,049 Larimer County $5,186,943 24.3%$6,875,140 $12,062,083 City of Fort Collins $2,277,077 10.7%$3,018,198 $5,295,275 Health District of N. Lar Co.$503,667 2.4%$667,596 $1,171,263 Lar Co. Pest Control $30,226 0.1%$40,063 $70,289 Poudre River Public Library District $699,195 3.3%$926,762 $1,625,957 N CO Water Conservancy District $232,426 1.1%$308,074 $540,500 Total $21,324,465 $28,264,951 $49,589,416 Tax District Forecast 2023- 2037 (15 years)TOTAL Total TIF % of Total Poudre R-1 School District $2,699,356 58.4%$6,675,228 $9,374,584 Larimer County $1,117,478 24.2%$2,763,408 $3,880,886 City of Fort Collins $491,859 10.6%$1,216,317 $1,708,176 Health District of N. Lar Co.$108,794 2.4%$269,037 $377,832 Lar Co. Pest Control $6,619 0.1%$16,369 $22,988 Poudre River Public Library District $151,092 3.3%$373,634 $524,726 N CO Water Conservancy District $50,205 1.1%$124,152 $174,357 Total $4,625,404 $11,438,145 $16,063,549 LTD 2006-2022 LTD (2013-2022) Prospect South URA North College URA TIF Revenue 28 Section H, Item 2. December 4, 2023 2024 URA Budget 29 Section H, Item 2. Background •Presented biennial budget in 2022 •Included 2024 budget •City included URA budget in its budget •City will adopt 2024 budget in November 230 Section H, Item 2. URA Core Offer 2024 Ongoing Programs and Services Funding Source Note: Adjustment of $12,589 was added to Personnel for 2024 for additional partial FTE, Business Support. Change is reflected on the AIS 2024 URA Budget Details attachment. 31 Section H, Item 2. URA Debt Service Offer 2024 Debt Service Payments Funding Source 32 Section H, Item 2. North College URA •Developer Repayments o The Lyric 2024 Budget includes repayments to the Lyric based on their agreement (about $19k in 2024). •Other Expense o Operating expenses are budgeted slightly higher in 2024 due to minimal annual increases in personnel costs and anticipated inflationary costs. Changes to 2024 Budget 33 Section H, Item 2. Prospect South URA •No significant expense changes in 2024. Foothills Mall URA •Reduction in Developer Repayment due to decreased Property Tax TIF to be collected. Changes to 2024 Budget 34 Section H, Item 2. URA Operating Expense History General Operating Expenses: •Salaries & Benefits •Office-related expenses Professional & Technical Services Expenses: •Banking Fees •Consulting Services •Larimer County Fees •Legal Services •2014 –Foothills Mall URA reimbursable expenses paid to developer. •2017-2019 –EPS consulting services for Drake & College URA analysis. •2017 forward –Increase in Larimer County fees as Foothills Mall URA starts generating TIF. •2019 –Consulting, legal and banking fees related to Prospect South URA refinancing. •2019 forward –Utilization of non-City legal representation for URA. •2019 forward –Purchase of non-City liability insurance for the URA. •2020 –North College URA outreach and visioning expenses. •2021 –North College URA reimbursement to PDT for ROW from Lyric. $0 $200,000 $400,000 $600,000 $800,000 2015 2016 2017 2018 2019 2020 2021 2022 Operating Expenses General Operating Professional & Technical Services Insurance 35 Section H, Item 2. 2024 Cashflow Forecast Expense Type North College Prospect South Cash Inflows 2024 $4,389,941 $883,849 Cash Outflows 2024 ($1,735,693)($458,794) Net Change in Cash 2024 $2,654,248 $425,055 Projected Ending Cash Balance 2023 $5,885,838 $1,677,150 Projected Ending Cash Balance 2024 $8,540,086 $2,102,205 Restricted Cash Balance 2024 ($946,363)($370,194) Net Available Cash Balance Ending 2024 $7,593,723 $1,732,011 36 Section H, Item 2. Property Assessment Increment Through 2022 Assessments 37 Section H, Item 2. Tax Increment Collections Through 2022 $21.3M $4.6M 38 Section H, Item 2. Staff recommends adoption of the Resolution Recommendation 39 Section H, Item 2. URA 6-MONTH PLANNING CALENDAR November 2023 – June 2024 CALENDAR SUBJECT TO FREQUENT CHANGES Email URA Staff for up-to-date information: URABoardInfo@fcgov.com “The mission of the Urban Renewal Authority is to remedy blight, using Tax Increment Financing, to leverage private capital investment, and stimulate sustainable development and public improvement projects.” BOARD OF COMMISSIONERS: Jeni Arndt, Chair Julie Pignataro Kristin Stephens, Vice Chair Andy Smith Emily Francis Fred Colby Susan Gutowsky Tricia Canonico Shirley Peel Kelly Ohlson Kristen Draper (Items are listed in no particular order) URA Board Meeting Selection Committee Planning & Zoning Board Plan Area Review Committee URA Finance Committee City Council Meeting Public Open House City Council Finance Committee Legal Contract Review Committee Created: 11/30/2023 10:48 AM URA Board Meeting Selection Committee Planning and Zoning Board Plan Area Review Committee URA Finance Committee City Council Meeting Public Open House City Council Finance Committee URA Legal Contract Review Committee Dec 4, 2023 Time: 5:00 PM Location: CIC Room, 300 Laporte Ave. URA Board Meeting Agenda: Approval of the October 26, 2023 URA Board meeting minutes Approval of the 2024 Budget Authorize Acquisition of Properties County Foothills Payment Update URA on Payment Plan? January 11, 2024 Time: 3:00 PM Location: Zoom URA Finance Committee Cancelled January 25, 2024 Time: 5:00 PM Location: CIC Room, 300 Laporte Ave. URA Board Meeting Agenda: Approval of the December 2023 URA Board meeting minutes Welcome New URA Commissioner – Plan Orientation February 8, 2024 Time: 3:00 PM Location: Zoom URA Finance Committee Agenda: Approval of the September 14, 2023 Finance Committee meeting minutes, Approval of the January 11 Finance Committee meeting minutes URA Board Meeting Selection Committee Planning and Zoning Board Plan Area Review Committee URA Finance Committee City Council Meeting Public Open House City Council Finance Committee URA Legal Contract Review Committee February 22, 2024 Time: 5:00 PM Location: CIC Room, 300 Laporte Ave. URA Board Meeting Agenda: Approval of the January 25 URA Board meeting minutes March 14, 2024 Time: 3:00 PM Location: Zoom URA Finance Committee Agenda: Approval of the February 8 Finance Committee meeting minutes March 28, 2024 Time: 5:00 PM Location: CIC Room, 300 Laporte Ave. URA Board Meeting Agenda: Approval of the February 22 URA Board meeting minutes April 11, 2024 Time: 3:00 PM Location: Zoom URA Finance Committee Agenda: Approval of the March 14 Finance Committee meeting minutes April 25, 2024 Time: 5:00 PM Location: CIC Room, 300 Laporte Ave. URA Board Meeting Agenda: Approval of the March 28 URA Board meeting minutes May 9, 2024 Time: 3:00 PM Location: Zoom URA Finance Committee Agenda: Approval of the April 11 Finance Committee meeting minutes URA Board Meeting Selection Committee Planning and Zoning Board Plan Area Review Committee URA Finance Committee City Council Meeting Public Open House City Council Finance Committee URA Legal Contract Review Committee May 23, 2024 Time: 5:00 PM Location: CIC Room, 300 Laporte Ave. URA Board Meeting Agenda: Approval of the April 25 URA Board meeting minutes June 13, 2024 Time: 3:00 PM Location: Zoom URA Finance Committee Agenda: Approval of the May 9 Finance Committee meeting minutes June 27, 2024 Time: 5:00 PM Location: CIC Room, 300 Laporte Ave. URA Board Meeting Agenda: Approval of the July 27, 2023 URA Board meeting minutes URA Board Meeting Selection Committee Planning and Zoning Board Plan Area Review Committee URA Finance Committee City Council Meeting Public Open House City Council Finance Committee URA Legal Contract Review Committee UNSCHEDULED OR UPCOMING ITEMS Item Purpose of Item North College Powerhouse II Prospect South College and Drake King Soopers Project Foothills Mall Misc. URA IGA and City URA insurance and Purchasing Power URA Purchasing Policies Mulberry Corridor Update URA Plan Areas and City Plan Consider Redevelopment Agreement to support Powerhouse II development Update Board on project status and projected impacts to TIF revenue Update URA IGA with the City Direction on URA insurance and purchasing power Recommendation on URA purchasing policies Update on Mulberry Corridor Plan, future annexation, and alignment with URA strategic objectives Discussion of URA Plan Areas and their relation to City Plan