HomeMy WebLinkAboutMemo - Read Before Packet - 3/26/2019 - Memorandum From Carol Webb Re: Council Meeting Agenda Item #1 Approving A Construction And Purchase Agreement For Condominium Units Consisting Of Two Floors Of A New Laboratory Building To Be ConstrucUtilities
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M E M O R A N D U M
DATE: March 25, 2019
TO: Mayor Troxell and Councilmembers
FROM: Carol Webb, Utilities Deputy Director
THROUGH: Darin Atteberry, City Manager
Jeff Mihelich, Deputy City Manager
Kevin R. Gertig, Utilities Executive Director
RE: March 26, 2019 City Council Meeting Agenda Item #1
Resolution 2019-039, Approving a Construction and Purchase Agreement for
Condominium Units Consisting of Two Floors of a New Laboratory Building to
be Constructed by RMI2 Properties, LLC at the Innosphere Site on East Vine
Drive
This memo provides additional information related to Resolution 2019-039 referenced above.
1. Water Board Minutes and Recommendation
Water Board recommended unanimously that City Council approve the resolution. The
meeting minutes excerpt is attached.
2. An overview of how the City Urban Renewal Authority (URA) helped fund the
Innosphere Phase I building and the status of the financing provided.
There are currently no outstanding loans between the URA and RMI2.
The URA borrowed $5.3M from the General Fund to loan funding to RMI2 in 2009. The
URA “forgave” $2.8M of the loan to RMI2, making it a direct financing to the RMI
project. The remaining outstanding loan to RMI2 was $2.5M. RMI refinanced that debt
with another lender and paid back the loan to the URA in 2017.
3. The rationale regarding why the City did not partner with Colorado State
University (CSU) on construction of a new laboratory building.
City staff investigated opportunities to collaborate with CSU however was unable to
pursue a partnership due to the timeline for CSU’s project and the overall plan for the
CSU lab facility.
DocuSign Envelope ID: A34477DD-45CB-43F5-B15D-310729F60445
pc: Judy Schmidt, Senior Assistant City Attorney
Jill Oropeza, Director, Sciences
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Excerpt from Unapproved DRAFT MINUTES - WATER BOARD
REGULAR MEETING
March 21, 2019, 5:30 p.m.
222 Laporte Avenue, Colorado River Community Room
03/21/2019 – Excerpt from Unapproved DRAFT MINUTES Page 1
6. (c) City-Innosphere Lab Partnership
(Attachments available upon request)
Presentation Summary: Utilities Deputy Director Carol Webb summarized the
project. Water Quality Services Manager Jill Oropeza came to Water Board in
September to present information. The City and Innosphere are proposing a
public/private partnership consistent with strategic objectives.
Discussion Summary: Board members commented on and inquired about various
related topics including the site’s proximity to the canal next door, the City’s
whitewater park being constructed across the street, New Belgium Brewing, and In-
Situ; lab architect’s design skills (Ms. Webb replied the City is adding that expertise
to the design team, as well as a chemist and the Water Quality Services manager)
to address unique needs of laboratory design, such as ventilation, energy efficiency,
and prevention of cross-contamination; suggestion for the City to hire an consultant
to offer further expertise and a fresh perspective on lab design; the future of labs
and related skills (Ms. Webb commented that expertise and skills will shift from
volume of data to ability to draw conclusions from that data); emergency power (this
is being considered in the lab design).
Board Member Malers moved that Water Board recommend to City Council
adoption of the resolution approving a construction and purchase agreement
for the City’s purchase of condominium units consisting of two floors of a
new water laboratory building to be constructed by RMI2 Properties, LLC at
the RMI2 site on East Vine Drive.
Board Member Steed seconded the motion.
Vote on the motion: It passed unanimously, 6-0.
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