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HomeMy WebLinkAboutReport - Mail Packet - 3/28/2013 - Letter From Matt Robenalt, Downtown Development Authority, Re: Downtown Development Authority�S 2012 Year In ReviewYEAR IN REVIEW 1 2 2012 Year in Review Welcome to our Year in Review as the Fort Collins Downtown Development Authority (DDA) presents highlights and accomplishments of 2012. We look back on this particularly flourishing period as the community and downtown saw new investment in both public and private endeavors. Created in 1981, the downtown development authority (DDA) is an economic development agency that uses tax increment financing to encourage and complement private investment and fund public improvements in the central business district. From deconstructing the former Elks Club building and preparing the site for future redevelopment to collaborating with the Poudre River Public Library District to fund a new landscape plan in Library Park complementing the recently renovated Main Library building, we continued to develop innovative ways in which to serve the downtown community and create a vibrant commercial, retail, cultural and entertainment district. This past year was marked by funding commitments to three new commercial and residential buildings through the DDA’s tax increment investment program. These projects amount to more than $18 million in combined public and private investment activity that will provide new commercial spaces and residences in the downtown district. As Downtown Fort Collins—a unique blend of the historic and modern—continues its incredible regeneration, imaginative displays of culture were exhibited throughout the year. Visitors were enticed to watch art being created in Old Town Square as part of the Pianos About Town project, and theatrical performance groups honed their performances and constructed their sets behind the scenes in the DDA’s Backstage Warehouse before opening shows to thousands of audience members at the Lincoln Center. An expanded holiday light display, funded in partnership with the Downtown Business Association, City of Fort Collins and numerous business sponsors illuminated the downtown throughout the winter. None of this, of course, could have been accomplished without the hard work of the elected officials, property and business owners and members of the community who are as committed as we are to making Downtown Fort Collins a great place to live, work, learn, do business, shop and visit. We celebrate the successes achieved by the DDA in 2012, and express our appreciation to our many partners that made these accomplishments possible. Wynne Odell Matt Robenalt Board Chair Executive Director 2 2 2012 Year in Review PUBLIC INVESTMENT PHILOSOPHY The Downtown Development Authority is a steward of the neighborhood at the heart of Fort Collins — Downtown. We fund projects that add to the vitality, excitement, activity, vibrancy, diversity and attractiveness of our community. To achieve success in economic development of the District, all DDA functions will be operated with attention to: maintaining the fiscal viability of the organization; achieving the goals of the organization as developed by the community of stakeholders; and, implemented through the adopted plans and policies of the DDA Board of Directors and City Council. • Environmentally restorative, responsible and accountable. • Design and build circulation systems, that minimize auto/pedestrian conflict and maximize convenience. • Solve a market/use mismatch by bridging a project financing gap. • Reduce risk of pioneering investments. • Signal political importance. • Public infrastructure upgrades. • Sustaining the historic character by preserving and honoring what is here. • Quality façade materials and timeless design in architectural improvements. • Place-making to promote urban vitality. • Support of affordable housing to diversify downtown living options. When the DDA invests tax increment funds to promote and support public and private development our aim is to Make it Happen, Make it Happen Sooner, Make it Better. 3 2 2012 Year in Review ELKS BUILDING DECONSTRUCTION Public Improvement – $384,000 (approx.) The Elks Building, a DDA-owned property in the heart of downtown Fort Collins, was originally constructed in 1907 as a YMCA. It was later bought by the Elks Lodge and following damage from a gas explosion in 1977, was extensively remodeled and expanded. In 2008 the DDA purchased the Elks Building with the intent to offer the site, in conjunction with the adjacent City-owned parking lot, as a development location for a hotel and conference center. The challenging combined events of the financial market collapse in September 2008 and the subsequent recession delayed the project indefinitely. In 2009 the DDA conducted a building reuse feasibility study and, based on the report findings, concluded that the best alternative for the site was deconstruct the building and prepare the site for future development. Community Asset in the Epicenter of Old Town The DDA pursued an “optimized deconstruction approach” and achieved the goal of diverting 70% of uncontaminated building materials from the landfill. Many local civic groups and recyclers benefitted from materials gleaned from the building. In March, a group of local artists and organizations were invited to collect items of interest such as bowling alley flooring, mechanical parts, light fixtures, bowling balls and more to incorporate into works of art. Wood flooring is incorporated into the walls of the Museum of Discovery. Additionally, efforts to salvage brick and stone masonry from the original portion of the building resulted in a substantial amount of materials being stockpiled for use in a future DDA project. Elks Building Deconstruction Site Preparation 4 2 2012 Year in Review LIBRARY PARK LANDSCAPE Public Improvements - $75,000 The DDA/Elks Trust Agreement was established in 2008 upon the sale of the Elks Building with $100,000 set aside to satisfy the Elks Lodge desire to contribute to the betterment of downtown Fort Collins. Several years ago, $25,000 was approved to restore the historic grand piano from the 1904 St. Louis World’s Fair, which was housed in the Elks Lodge, and donated it to the Museum of Discovery. In 2012, discussions between representatives of the Elks organization, Poudre River Library District, Library Trust and the DDA resulted in an agreement to allocate the remaining $75,000 to the Main Library entry plaza improvements and additional proposed landscape elements in Library Park. 5 2 2012 Year in Review FAÇADE PROJECTS Block One - 418 Linden Street Tax Increment Investment, Public Improvements, River Bank Stabilization - $564,799 Encompass Technologies is constructing a 37,000 square foot, mixed-use redevelopment project bordering the Poudre River that will house their headquarters, upper floor residential space, leased office and retail space, and a signature restaurant. It will serve as a catalyst for high-quality, sustainable and thoughtful redevelopment envisioned for the Downtown River District. Featuring timeless materials and varied surface articulation, the building design complements the river frontage and honors the character and vision for the River District, creating a vibrant and inviting experience with the surroundings. Architectural elements are reflective of the industrial buildings and historical character of the neighborhood, creating a rich street and pedestrian scaled experience. Structured outdoor pedestrian spaces will allow the building occupants and the general public to enjoy and interact with the river and surrounding natural areas. The development is located on the site of a former concrete batch plant and represents a unique opportunity to transform an industrial site into an enhanced destination with improved environmental impact. The project also provides the opportunity to complete the Linden Streetscape enhancements in front of the property. The DDA will contribute to river bank stabilization and habitat restoration on the City-owned river frontage at the north end of the property. Former Cement Batch Plant Block One Concept Drawings 6 2 2012 Year in Review Canyon Place – 331 Meldrum Tax Increment Investment - $787,753 OtterBox/Blue Ocean Enterprises is constructing a 45,000 square foot, mixed-use redevelopment project that will house OtterBox employees as well as a restaurant tenant at the ground level. Located across the street from the recently remodeled Lincoln Center, the project offers the opportunity to transform an infill property with an existing nondescript building into a vibrant owner-occupied office building. Canyon Place is expected to house approximately 400 OtterBox employees. The restaurant will cater to building occupants during the day and offer evening dining options for Lincoln Center patrons and downtown visitors. The building is designed to complement and enhance its surroundings while expressing the unique culture and innovative spirit of OtterBox. It utilizes a palette of rich, high–quality materials including modular brick facades, native ashlar sandstone, architectural metal cladding systems, sunshades and trellises, and bronze storefront and glazing systems. Horizontal roof canopies accenting the second floor level serve to reduce the scale of the building and provide cover at building entrances. The building design endeavors to enliven the streetscape by providing opportunities for ground level activity, notably expressed in the pedestrian plaza which will be created between the new building and the adjacent OtterBox-owned building Before After 7 2 2012 Year in Review Penny Flats Building 3 – 210 Maple Street Tax Increment Investment - $112,300 Realizing the increased demand for higher-end rental units in the downtown, Coburn Development and Brinkman Partners began discussions to construct a multi-family residential rental project at Penny Flats, resulting in the construction of Building 4. The current project, Building 3, is the third structure at the site. The Penny Flats project was originally proposed by Coburn Development, Inc. to the DDA in 2006 as an eight building, mixed-use development at the northwest corner of Maple and Mason Streets. The current building represents a revised building design from the originally approved concept, reflecting the change to residential rental units while maintaining the overall character and scale of the previously approved project. 8 2 2012 Year in Review DDA PROGRAMS The DDA strives to find ways to enhance the downtown experience. In 2012 the DDA staff participated in the following projects with long term positive impacts for the downtown. BACKSTAGE COOPERATIVE ARTS WAREHOUSE – 720 VINE DRIVE The DDA purchased the warehouse in 2009 with the intent to provide non-profit performance and theatrical arts organizations, and educational non-profits with a cooperative space to use rent free for up to five years. The objective was to help provide these groups an opportunity for cross-collaboration and create partnerships that would lead to an emergence of idea and resource sharing to enrich the skill sets of the other groups. In turn, the desired outcome was to strengthen the experience of cultural patrons at the Lincoln Center and indirectly create positive economic impact on downtown restaurants and retailers. The Backstage Cooperative Arts Warehouse experienced incredible activity during the 2012 calendar year. The five Managing User Groups (OpenStage Theatre, Canyon Concert Ballet, Opera Fort Collins, Fort Collins Children’s Theatre and Debut Theatre) mounted 39 productions for a total of 169 performances to a combined audience of 26,747. The productions engaged the talents of 662 artists and provided programming for 3,226 students through classes and programming in area schools. Warehouse storage was extended to two Occasional User Groups, the Centennial Children’s Chorus and The Mostiles, fulfilling the desire to increase the opportunities to other community art groups. The warehouse was utilized for storage, construction, rehearsals and meetings. Cooperation between the Managing Groups increased, with all five organizations lending set pieces, properties and costumes to each other, as well as providing free use of these items to other local arts organizations and area schools. Access to the warehouse has allowed arts groups to save costs and increase their offerings to the public. “DDA support through the both the Backstage Warehouse and rent and technical services funding at the Fort Collins Lincoln Center have been crucial to the survival of local art producing organizations throughout the economic challenges of the past few years.” – Denise Burson Freestone, OpenStage Theatre 9 2 2012 Year in Review ART INACTION – PIANOS ABOUT TOWN Pianos About Town is a collaborative project between Bohemian Foundation, DDA, and City of Fort Collins’ Art in Public Places. The tremendous public enjoyment of this art project led the DDA to enter the partnership for a second year in 2012. This fun, interactive experience creates an additional element of whimsy and surprise to Old Town Fort Collins. The project involves local artists painting murals on pianos on the Art in Action Stage in Old Town Square where the public can watch the creative process and interact with the artists. These colorfully-painted pianos are then rotated about town for the public to enjoy as both musical instruments and works of art. Area businesses play a key role in the success of the project by "adopting" the painted pianos and covering them during inclement weather. The impromptu nature of the pianos adds the color of music to enliven Old Town Square like never before. DOWNTOWN HOLIDAY LIGHTS A beautiful display of energy-efficient LED lights ushered in the 2012 winter holiday season and graced the streets of downtown Fort Collins along College Avenue, Old Town Square and the surrounding areas from November through mid-February. Over 1000 man-hours were put into hanging the LED lights. Crews began work in early October, responsibly wrapping each tree and draping strands throughout the canopies. This year the holiday lights extended the previous boundaries and illuminated over eight city blocks, Oak Street Plaza and Old Town Square in historic downtown Fort Collins. The display represents a collaborative effort between the Downtown Development Authority, the City of Fort Collins, the Downtown Business Association and several local sponsors. Photo by Dennis Burns 10 2 2012 Year in Review FAÇADE MONITORING PROGRAM Over the years the DDA has provided funding for over 70 façade improvements of properties in the DDA district. As part of the façade agreement with the DDA, property owners are obligated to maintain the improvements in substantially the same condition as existed at the time of completion of the project. In order to ensure that DDA investments in these façade improvements are being properly maintained, the Façade Monitoring Program was established in 2010. Under the program, properties are inspected biennially to determine if the maintenance obligations of the building owners are being met. In 2012, 32 of the 58 properties with current façade easements were inspected as part of this program, resulting in 4 properties showing no deficiencies while 28 properties were determined to have some maintenance issues. Some facades were only in need of minor cleaning and pressure washing, others were in need of more moderate painting and mortar repair, and others were in need of major masonry evaluations and repair. Property owners have responded favorably to requests for compliance. 100 West Mountain Avenue 111 North College Avenue 11 2 2012 Year in Review FINANCIALS 12 2 2012 Year in Review DDA TAX INCREMENT REVENUE CYCLE NEW TAX INCREMENT REVENUES THE DRIVER THE HOW THE WHAT THE OUTCOME CREATES ACCELERATES ENHANCES IMPROVES DIVERSITY & ATTRACTIVENESS OF DISTRICT. EXCITING, ACTIVE, VIBRANT DOWNTOWN When the DDA promotes/supports private development, it directs tax increment investments to: Act as a market catalyst Enhance market outcomes Address a market shortfall or failure MAKE IT HAPPEN MAKE IT HAPPEN SOONER MAKE IT BETTER Environmentally restorative, responsible & accountable Design and build circulation system, minimize auto/pedestrian conflicts, maximize convenience Solve a market/use mismatch Reduce risk of pioneering investments Signal political importance Public infrastructure upgrades Historic character; preserve and honor what is here Quality facade materials Place-making Affordable housing 13 2 2012 Year in Review BOARD OF DIRECTORS Wynne Odell — Chair Patty Spencer — Immediate Past Chair Jerry Kennell — Vice Chair Jenny Bramhall — Secretary George Brelig McCabe Callahan Steve Johnson (Larimer County Commissioners Representative) Ben Manvel (Alternate City Council Representative) Kelly Ohlson (City Council Representative) Bevin Parker Ellen Zibell Cheryl Zimlich 14 2 2012 Year in Review 19 Old Town Square, Suite 230 Fort Collins, CO 80524 970.484.2020 www.downtownfortcollins.org The DDA’s mission is to build public and private investment partnerships that foster economic, cultural and social growth in the Fort Collins central business district.