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HomeMy WebLinkAboutAgenda - Mail Packet - 9/21/2021 - Urban Renewal Authority Board Meeting - September 23, 2021City of Fort Collins Page 1 Jeni Arndt, Chair Joe Wise, Vice-chair Susan Gutowsky Julie Pignataro Tricia Canonico Shirley Peel Kelly Ohlson Emily Francis Kristin Stephens Christophe Febvre Andy Smith City Council Chambers City Hall West 300 LaPorte Avenue Fort Collins, Colorado Cablecast on FCTV Channel 14 on Connexion Channel 14 and 881 on Comcast Caitlin Quander Kelly DiMartino Tammi Pusheck Brownstein Hyatt Farber Schreck Interim Executive Director Interim Secretary 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 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 disca pacidad, para que puedan acceder a los servicios, programas y actividades de la Ciudad. Para asistencia, llame al 221-6515 (V/TDD: Marque 711 para Relay Colorado). Por favor proporcione 48 horas de aviso previo cuando sea posible. URBAN RENEWAL AUTHORITY BOARD MEETING September 23, 2021 ● 5:00 PM PUBLIC PARTICIPATION OPTIONS There will be three options for people who would like to participate in the meeting: • Live via the Zoom online meeting, • Live via the telephone, • By submitting emails to cfrickey@fcgov.com All options will be available for those wishing to provide general public comment, as well as public comment during individual discussion items. PUBLIC PARTICIPATION (ONLINE VIA ZOOM) Individuals who wish to address the Board via remote public participation can do so through Zoom at https://zoom.us/j/98687657267. Individuals participating in the Zoom session should watch the meeting through that site, and not via FCTV, due to the streaming delay and possible audio interference. The Zoom meeting will be available beginning at 4:30 p.m. on the day of the meeting. Participants wanting to ensure their equipment setup is working should join prior to 5:00 p.m. For public comment s, City of Fort Collins Page 2 the Chair will ask participants to click the “Raise Hand” button to indicate you would like to speak at that time. Staff will moderate the Zoom session to ensure all participants have an opportunity to address the Board. In order to participate, you must: • Have an internet-enabled smartphone, laptop or computer. Using earphones with a microphone will greatly improve your audio experience. • Join the Zoom meeting using the link on the front page of the agenda or on the URA webpage at: http://www.renewfortcollins.com/meeting-agendas. PUBLIC PARTICIPATION (VIA PHONE) • Dial public participation phone number, 1-346-248-7799. • Enter the Meeting ID for the July 22 meeting: 986 8765 7267 followed by the pound sign (#). • The meeting will be available beginning at 4:15 p.m. Please call in to the meeting prior to 5:00 p.m., if possible. For public comments, the Chair will ask participants to indicate if you would like to speak at that time – phone participants will need to press *9 to do this. Staff will be moderating the Zoom session to ensure all participants have an opportunity to address the Board. PUBLIC PARTICIPATION (VIA EMAIL): Individuals not comfortable or able to access the Zoom platform or able to participate by phone are encouraged to participate by emailing general public comments you may have to cfrickey@fcgov.com. If you have specific comments on any of the discussion items scheduled, please make that clear in the subject line of the email and send prior to the meeting Thursday evening. WATCH THE MEETING: ● Anyone can view the Council meeting live on Channels 14 and 881 or online at www.fcgov.com/fctv and will be replayed the following morning at 10 am. Documents to Share: If residents wish to speak to a document or presentation, email those materials to URA at cfrickey@fcgov.com no later than 3 p.m. the day of the meeting. PLEDGE OF ALLEGIANCE • CALL MEETING TO ORDER • ROLL CALL • AGENDA REVIEW • Executive Director’s Review of Agenda. • Consent Calendar Review. This Review provides an opportunity for the Board and citizens to pull items from the Consent Calendar. Anyone may request an item on this Calendar be “pulled” off the Consent Calendar and considered separately. ◦ Board-pulled Consent Calendar items will be considered before the Discussion items. ◦ Citizen-pulled Consent Calendar items will be considered after the Discussion items. • CITIZEN PARTICIPATION • CITIZEN PARTICIPATION FOLLOW-UP • STAFF REPORTS • COMMISSIONER REPORTS City of Fort Collins Page 3 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 citizen comment on the item (three-minute limit for each citizen) ● Board questions of staff on the item ● Board motion on the item ● Board discussion ● Final Board comments ● Board vote on the item Note: Time limits for individual agenda items may be revised, at the discretion of the Chair, to ensu re all citizens have an opportunity to speak. Please sign in at the table in the back of the ro om. 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 July 22, 2021 Urban Renewal Authority Board Meeting. The purpose of this item is to approve the minutes of the July 22, 2021 Urban Renewal Authority Board meeting. 2. Estimate of Value Process. The Authority’s application for seeking tax increment assistance requires the applicant to provide an estimate of the assessed value of the project which allows the Authority to estimate how much increment the project will generate. Previously, the Assessor’s Office provided this estimate of value, but is no longer able to provide this analysis. Staff have developed a process to obtain an accurate estimate of value. Staff proposes the following process for obtaining an estimate of value: 1. Develop scope of work 2. Contract with appraiser 3. Appraiser conducts analysis 4. Appraiser submits report for review 5. Developer uses estimate of value to complete tax increment assistance application This process yields an accurate estimate of value with more analysis on how the appraiser arrived at this value when compared to the previous process. Staff proposes issuing a request for proposal in accordance with the City’s purchasing process to select an on-call appraiser for the Authority. Staff will bring forward the winning proposal to the Board for their consideration. 3. Strategic Plan Update. The purpose of this item is to update the Urban Renewal Authority Board on progress to date implementing the Authority’s Strategic Plan. The Urban Renewal Authority adopted a final Strategic Plan guiding its operations on November 30, 2020. The Strategic Plan contains guiding statements for the operations and purpose of the Authority along with 8 implementation strategies to guide the Authority’s operations in the short and medium term. All strategies are on-track with a number of strategies completed. Staff continues to make progress on the strategies that are not complete and move forward strategies that are on-going. • OTHER BUSINESS • ADJOURNMENT Agenda Item 1 Item # 1 Page 1 AGENDA ITEM SUMMARY September 23, 2021 Urban Renewal Authority Board STAFF Tammi Pusheck, Interim City Clerk SUBJECT Consideration and Approval of the Minutes for the July 22, 2021 Urban Renewal Authority Board Meeting. EXECUTIVE SUMMARY The purpose of this item is to approve the minutes of the July 22, 2021 Urban Renewal Authority Board meeting. ATTACHMENTS 1. July 22, 2021 (PDF) 1 Packet Pg. 4 City of Fort Collins Page 422 URBAN RENEWAL AUTHORITY BOARD July 22, 2021 5:01 PM • ROLL CALL PRESENT: Stephens, Wise, Febvre, Gutowsky, Gorgol, Arndt, Canonico, Peel, Ohlson ABSENT: Pignataro, Smith STAFF: Birks, Gula-Yeast, Frickey • AGENDA REVIEW Chair Arndt discussed the public participation options for the meeting. Josh Birks, Economic Health and Redevelopment Director, stated the agenda has been amended to allow for public participation and stated the approval of the minutes from the May 27, 2021 meeting was added as the first discussion item. Additionally, Item No. 4, Powerhouse II Overview, and Other Business Item A, Consider entering into an Executive Session to discuss acquisition of property related to Powerhouse II, have been withdrawn. • COMMISSIONER REPORTS Vice Chair Wise reported the Harmony Library has reopened with a new HVAC system and new updates to the interior. He also reported on the Library Board of Trustees receiving a report on the successful ESL mentoring program the library has undertaken. Commissioner Gutowsky commended the ESL mentoring program. 1. Consideration and Approval of the Minutes for the May 27, 2021 Urban Renewal Authority Board Meeting. (Adopted) The purpose of this item is to approve the minutes of the May 27, 2021 Urban Renewal Authority Board meeting. Vice Chair Wise made a motion, seconded by Commissioner Gorgol, to approve the May 27, 2021 meeting minutes as written. RESULT: MINUTES ADOPTED [UNANIMOUS] MOVER: Joe Wise SECONDER: Emily Gorgol, District 6 AYES: Stephens, Wise, Febvre, Gutowsky, Gorgol, Arndt, Canonico, Peel, Ohlson ABSENT: Pignataro, Smith 2. 2022 Urban Renewal Authority Budget. (No Action Taken) Staff submitted two budget offers for the Urban Renewal Authority (URA) as part of the City’s Budgeting for Outcomes (BFO) process earlier in 2021. One 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 appropriation for the 2022 URA budget would be $5,799,914. After these expenses, both the North College and Prospect South plan areas would generate excess revenues. Staff forecasts $3.3 million in available cash in the North College plan area and $1.3 million in available cash in the Prospect South plan area by the end of 2022. Clay Frickey, Redevelopment Program Manager, provided an overview of the URA 2022 budget noting it is reviewed through the City’s Budgeting for Outcomes process and therefore will be a 1.1 Packet Pg. 5 Attachment: July 22, 2021 (10571 : Minutes - 07/22) City of Fort Collins Page 423 single-year budget in line with the City’s. He stated the URA has two budget offers. The first, the core offer, covers the cost of personnel, professional technical services, legal counsel, insurance, and other expenses, and amount to about $575,000. The second offer services the URA’s debt. Frickey discussed the changes made to the budget from the previous year and discussed how operating expenses have changed over time. He asked what additional information would be helpful prior to adoption of the budget in October. Vice Chair Wise asked if any leftover funds for a plan area could be used for other URA expenses. Frickey replied funds must be spent within the plan area and investments can be made in projects after the life cycle of collecting TIF is over. Caitlin Quander, legal counsel, stated dollars l eft at the end of a plan area’s TIF collection time must have been expended on projects within the plan area or must be returned to the taxing entities based on mill levies. Vice Chair Wise asked if there is a time limit for investing in projects after the 25-year window is up. Quander clarified the dollars must have already been committed before the end of the 25 years. Commissioner Ohlson asked why property taxes decreased for the Foothills Mall plan area noting the residential property taxes increased. Frickey replied there was a reassessment for a portion of the property causing the property values to decrease significantly. Commissioner Ohlson asked how much the mall property value dropped in the reassessment. Rachel Rogers, Economic Health, replied there was a $500,000 difference in the TIF value. Birks noted the reappraisal went to the state level to get resolved. Commissioner Stephens asked about Aspen Heights. Frickey replied it is typical for an initial developer of a student housing project to build the project and lease it out then sell it for a higher value. He stated that is what has occurred with Aspen Heights, now known as The Outpost. The URA was never notified of this change and therefore did not know to whom dollars should be remitted. He stated the new property owner has not responded after several attempts and staff is now comfortable stating this is no longer an obligation. Quander noted there were some additional obligations and timelines under which the project had to submit for reimbursement and under the redevelopment agreement terms, the agreement is terminated if certain deadlines are not met. Commissioner Stephens asked if the project had infrastructure obligations it had not met. Frickey replied in the negative. Birks noted no reimbursement payments were ever made to the project as it failed to document its investments. Commissioner Stephens asked if the project has lost its opportunity for reimbursement. Quander replied in the affirmative. Commissioner Stephens asked if any of the work on improvements in Prospect South will begin or if more funding is needed. Frickey replied the pedestrian investments are quite expensive; therefore, they will not likely begin until the end of 2022. Commissioner Ohlson asked why the previous mall owners would want the property reassessed at a lower value though they likely knew they would be selling it. Birks replied the liability existing with them as the owners; therefore, they received a rebate in taxes of $500,000 just prior to selling the property. He also noted the sale was the purchase of a foreclosed loan and the sale was not based on fair market value of the property. 1.1 Packet Pg. 6 Attachment: July 22, 2021 (10571 : Minutes - 07/22) City of Fort Collins Page 424 RESULT: NO ACTION TAKEN 3. Discuss a return to in-person meetings. Birks suggested a different City facility could be used if the CIC room is getting to be too small for in-person meetings of this 11-member Board, should in-person meetings be selected as the default. Quander stated the Board has historically met in-person and stated the Board must also decide how it would like to provide for public participation and stated staff would also like input regarding the URA Finance Committee meetings. Commissioner Febvre supported beginning in-person meetings for both the Board and Finance Committee while still allowing remote participation by members and the public. Vice Chair Wise stated he would like the Board meetings to be in-person but stated the Finance Committee could be appropriate either way. He also supported allowing remote participation for the public. Commissioner Peel requested clarification regarding confusion around hybrid meetings. Quander expressed support for meeting in person but discussed situations wherein utilizing the available remote technology makes sense. She noted the Board has the purview to set its bylaws as it sees fit regardless of the Council regulations or Charter. Commissioner Gorgol commented on the advantages of having a hybrid option and supported having the option for public participation as well. Commissioner Canonico expressed support for hybrid meetings for the Board and for keeping Finance Committee meetings remote unless there is a large item to discuss. Chair Arndt and Commissioner Gutowsky supported the hybrid option. Vice Chair Wise noted the coronavirus emergency exception was the only reason for remote meetings initially and asked if that has changed. Quander replied the emergency had to be declared to get into an electronic meeting during which the Board could adopt a resolution allowing electronic meetings; therefore, meeting electronically or in a hybrid format for this Board is acceptable. Commissioner Ohlson expressed support for in-person meetings unless there is a health emergency. He expressed support for allowing remote participation as long as most Commissioners make an effort to participation in person as much as possible. He stated he could support a hybrid meeting for the Finance Committee unless the items being considered are of greater importance. Commissioner Febvre supported in-person meetings for the Finance Committee where possible. Chair Arndt did not support setting a maximum number of individuals who could participate remotely. Commissioner Ohlson suggested making both meetings be in-person and hybrid. Birks stated staff will work to craft a resolution to that end. Quander clarified the September meeting could occur in-person if the local declaration of emergency is not in place. She stated she would follow-up on whether that meeting could also be hybrid. 1.1 Packet Pg. 7 Attachment: July 22, 2021 (10571 : Minutes - 07/22) City of Fort Collins Page 425 Commissioner Ohlson suggested continuing virtually in September should a hybrid option not be available. Birks concurred and stated staff will get that information out to Commissioners as soon as possible. 4. Powerhouse II Overview RESULT: WITHDRAWN • OTHER BUSINESS A. Consider entering into an Executive Session to discuss acquisition of property related to Powerhouse II. RESULT: WITHDRAWN • ADJOURNMENT The meeting adjourned at 6:05 PM. ____________________________________ Chair ATTEST: ________________________________ Secretary 1.1 Packet Pg. 8 Attachment: July 22, 2021 (10571 : Minutes - 07/22) Agenda Item 2 Item # 2 Page 1 AGENDA ITEM SUMMARY September 23, 2021 Urban Renewal Authority Board STAFF Clay Frickey, Redevelopment Program Manager SUBJECT Estimate of Value Process. EXECUTIVE SUMMARY The Authority’s application for seeking tax increment as sistance requires the applicant to provide an estimate of the assessed value of the project which allows the Authority to estimate how much increment the project will generate. Previously, the Assessor’s Office provided this estimate of value, but is no lo nger able to provide this analysis. Staff have developed a process to obtain an accurate estimate of value. Staff proposes the following process for obtaining an estimate of value: 1. Develop scope of work 2. Contract with appraiser 3. Appraiser conducts analysis 4. Appraiser submits report for review 5. Developer uses estimate of value to complete tax increment assistance application This process yields an accurate estimate of value with more analysis on how the appraiser arrived at this value when compared to the previous process. Staff proposes issuing a request for proposal in accordance with the City’s purchasing process to select an on-call appraiser for the Authority. Staff will bring forward the winning proposal to the Board for their consideration. BACKGROUND / DISCUSSION Developers must apply for tax increment assistance from the Urban Renewal Authority. The Authority’s application for tax increment assistance requires the developer to provide the current assessed value of the property along with an estimate of assessed value of the property upon redevelopment. These two values allow the Authority to estimate the amount of tax increment the project will generate. From this estimate, the Authority is better able to estimate the amount of tax incre ment the project will generate. This helps the Authority negotiate redevelopment and reimbursement agreements that are financially viable for the Authority. Historically, the Assessor’s Office would provide the developer with an estimate of the assessed v alue of their property upon redevelopment. Authority staff would put the Assessor’s Office and developer in touch and the two parties would communicate directly. The developer would provide the Assessor’s Office with their proposed development program and parcel number. In return, the Assessor’s Office would provide an estimate of valuation based on the attributes of the development program. Now, the Assessor’s Office is unwilling to provide this analysis to developers. Staff discovered this change in the A ssessor’s policies when King Soopers requested an estimate of value for their redevelopment at College and Drake. This has necessitated a change in how developers provide the Authority with an estimate of assessed value for the tax increment assistance application. 2 Packet Pg. 9 Agenda Item 2 Item # 2 Page 2 Proposed Process Staff have piloted a process for estimating the assessed value of properties within Urban Renewal Plan Areas upon redevelopment with King Soopers for their proposed redevelopment in the College and Drake Plan Area. This process entailed the following: 1. Mutually develop scope of work - Staff and the development team created a scope of work for an appraiser to estimate the assessed value of the property upon redevelopment. 2. Contract with appraiser - Based on this scope, staff contracted with an appraiser mutually agreed upon between staff and the developer. The Authority holds the contract with the appraiser. 3. Appraiser conducts analysis - The appraiser conducts their analysis based on commonly used methodologies to appraise property. 4. Appraiser submits report for review - After conducting their analysis, the appraiser submits their report and findings to staff and the development team. 5. Developer uses estimate of value to complete tax increment assistance application Staff found the process to work well while providing many advantages over our previous process. This process provides the following advantages to the Authority: • This process delivers a report that provides the information the developer needs to fill out the tax increment assistance application while providing the Authority the necessary information to estimate the amount of tax increment the redevelopment will generate. • The report provides information about the methodology they used to arrive at the es timate of value. The Assessor’s Office did not provide this level of analysis in the past. • This process is iterative and provides staff and the applicant a chance to weigh in on elements of the report and scope prior to commissioning the report. One disadvantage of this process is the cost associated with the analysis. This analysis costs between $2,000 and $5,000 depending on the complexity of the analysis. The Assessor’s Office would provide estimates of value with no charge to the Authority or develop er. Developers ultimately bear the cost of this analysis like the pro forma analysis the Authority requires as part of performing the “but for” analysis for developments seeking tax increment assistance. This process also does not provide the same level of assurance as receiving an estimate of value from the Assessor’s Office. For the pilot of this process, the appraiser used similar appraisal methods to what the Assessor’s Office would use to best approximate the kind of analysis the Assessor’s Office provided to the Authority in the past. Next Steps Staff will create a request for proposal in collaboration with the City’s Purchasing department and bring forward the winning proposal for the Board’s consideration. BOARD / COMMISSION RECOMMENDATION Staff presented this process to the URA Finance Committee on September 9. The Finance Committee was in favor of the process as outlined by staff. The Finance Committee requested staff to clarify two issues related to this process. These two issues were who contracts with the appraiser and how should the Authority select appraisers in the future. For the issue related to who contracts with the appraiser, members of the Finance Committee were concerned the appraiser would not be as objective if the appraiser contracts with the developer. Staff clarified that the Authority holds the contract with the appraiser to ensure the analysis is objective. This mirrors the process for analyzing the developer’s pro forma when they submit a formal tax increment assistance requ est to the Authority. Similarly, the Authority pays for the analysis and then seeks reimbursement from the developer whether the project proceeds or not. 2 Packet Pg. 10 Agenda Item 2 Item # 2 Page 3 For selecting an appraiser, staff proposes issuing a request for proposal for qualified appraisers to serve as the Authority’s on-call appraiser for estimates of value. This follows the City’s purchasing process, which is required per the Authority’s intergovernmental agreement with the City. Staff will work with the City’s Purchasing department on issuing a request for proposal and will follow the purchasing process to select a qualified appraiser. Once staff selects the winning proposal, the selection will be presented to the Authority for approval. ATTACHMENTS 1. Estimate of Value Process (PDF) 2 Packet Pg. 11 September 23, 2021 Estimate of Value Process ATTACHMENT 1 2.1 Packet Pg. 12 Attachment: Estimate of Value Process (10648 : Estimate of Value Process) Background •Change in Assessor ’s Office policies •No longer provides estimate of value •Required on tax increment assistance application •Allows staff to estimate tax increment projects will generate •Necessitates change in process 2 2.1 Packet Pg. 13 Attachment: Estimate of Value Process (10648 : Estimate of Value Process) Old Process vs. Proposed Process Develop scope Contract with appraiser Appraiser conducts analysis Appraiser submits report Developer submits application 3 Developer contacts URA Staff connect developer and Assessor ’s Office Assessor ’s Office provides estimate of value Developer submits application Old Process Proposed Process 2.1 Packet Pg. 14 Attachment: Estimate of Value Process (10648 : Estimate of Value Process) Advantages and Disadvantages Advantages •Authority receives report •More insight into appraisal methodology •Iterative process Disadvantages •Additional cost •Less assurance estimate of value accurate 4 2.1 Packet Pg. 15 Attachment: Estimate of Value Process (10648 : Estimate of Value Process) Finance Committee Feedback •URA should hold contract •Ensures objectivity •How will URA select appraiser? •Proposal: issue request for proposal •Complies with City’s purchasing policy 5 2.1 Packet Pg. 16 Attachment: Estimate of Value Process (10648 : Estimate of Value Process) Proposed Next Steps •Develop request for proposal •Evaluate applications •Select winning proposal •Bring winning proposal to Board for consideration 6 2.1 Packet Pg. 17 Attachment: Estimate of Value Process (10648 : Estimate of Value Process) Agenda Item 3 Item # 3 Page 1 AGENDA ITEM SUMMARY September 23, 2021 Urban Renewal Authority Board STAFF Clay Frickey, Redevelopment Program Manager SUBJECT Strategic Plan Update. EXECUTIVE SUMMARY The purpose of this item is to update the Urban Renewal Authority Board on progress to date implementing the Authority’s Strategic Plan. The Urban Renewal Authority adopted a final Strategic Plan guiding its operations on November 30, 2020. The Strategic Plan contains guiding statements for the operations and purpo se of the Authority along with 8 implementation strategies to guide the Authority’s operations in the short and medium term. All strategies are on-track with a number of strategies completed. Staff continues to make progress on the strategies that are not complete and move forward strategies that are on-going. BACKGROUND / DISCUSSION The Urban Renewal Authority Board in collaboration with staff developed its first ever Strategic Plan in 2020. The Strategic Plan was the culmination of nearly a year’s worth of work to create a shared purpose and strategies to deliver on the Authority’s purpose. The Strategic Plan the Authority adopted on November 30, 2020 contained the following elements: • Who We Are • Why We Exist • What We Do • How We Behave • Implementation strategies All elements except for the implementation strategies describe the purpose of the Authority and what the Authority aims to accomplish through urban renewal. The implementation strategies are short to medium term actions that will help the Authority achieve its goals and fulfill its purpose. This agenda item provides an update on the status of each strategy included in the Strategic Plan which will inform the Board for an upcoming retreat. Strategy 1: Co-create proactive community investment plans with community members and taxing entities for each plan area. The goal of this strategy was to identify projects with the community and affected taxing entities that remediate blight and meet other community objectives. The Board would then use t hese investment plans as a guide on how to invest unpledged tax increment. Since adoption of the Strategic Plan, the Authority has adopted community investment plans for both the North College and Prospect South plan areas. These investment plans guide the Board on how to invest unpledged tax increment generated in those two plan areas. The Foothills and College and Drake plan areas are not candidates for investment plans. The Authority passes all tax increment for Foothills to the Foothills Metro District, meaning there is no unpledged revenue to contribute to other community priorities. As part of negotiations for the creation of the College and Drake plan area, staff 3 Packet Pg. 18 Agenda Item 3 Item # 3 Page 2 worked with their counterparts at affected taxing entities to develop an agreed upon list of projects that the Authority could contribute to. As such, there is also no unpledged revenue and a defined list of projects that provides the Authority with an investment plan. Strategy 2: Develop evaluation criteria for TIF assistance requests based on URA Board retreat. During the process of creating the Strategic Plan, the Board expressed an interest in developing a set of evaluation criteria for projects requesting tax increment assistance from the Authority. This set of criteria would help the Board evaluate how well projects seeking tax increment assistance meet the objectives of the Strategic Plan. Staff proposes discussing evaluation criteria in a retreat session later in 2021. This will provide the Board with enough time to understand the background of this initiative and provide input on the criteria. Strategy 3: Amend Inter-Governmental Agreement (IGA) with City to be consistent with URA Strategic Plan. The current IGA with the City has not been amended since the Board expanded to 11 member s. Authority staff recently provided City staff in the City Attorney’s Office and Finance with the most recent IGA and asked them to identify issues within the IGA they would like to amend as well as items that the IGA currently does not cover that they would like to add to the agreement. Authority staff and the Authority’s legal counsel have highlighted areas of the IGA to amend and discuss with City staff. Once City staff have reviewed the IGA, Authority staff will schedule a meeting to discuss the elemen ts of the IGA that each reviewing agency has identified for amendment or inclusion in the IGA. After surfacing all issues related to the IGA, the Authority’s legal counsel will draft a new IGA. Each reviewing agency will provide comments on the new IGA wit h the goal of bringing a new IGA for consideration by the Board in late 2021 or early 2022. Strategy 4: Update URA website to improve usability. The URA website is several years old and did not reflect the current state of the URA at the time of the Strategic Plan’s creation. The URA website was using an outdated content management system. This system made it difficult to update pages and add new content. Over the course of the summer, the URA website migrated to a new content management system. This new system allows for easier updates of pages as well as making it easier to re-organize the website and add new content. Staff have made many small changes to the website to enhance usability: • Reorganized navigation so the “Meeting Agendas” page is the fir st link on the website; • Added pages for the recently adopted Community Investment Plans for North College and Prospect South; and • Clean up of old elements of the website to better reflect current operations of the Board including links to current budget, resolution appointing current Vice Chair, most recent bylaws, etc. Forthcoming updates to the website include: • Pages overview of each plan area that include information on effective date of the plan area, total investment, examples of projects, and maps; • Update of “About the URA” page to reflect current Strategic Plan; • Reorganize “Meeting Agendas” page to make materials easier to find; and • Add section to the website for potential applicants to download materials and understand the tax increment assistance process. Strategy 5: Produce annual report for the URA and each plan area. The Board and staff identified a need to develop an annual report that highlighted the Authority’s activities of the previous year. This would act as a helpful on-boarding tool for new Board members and allow interested stakeholders to better understand the current activities of the Authority. As such, staff produced an annual 3 Packet Pg. 19 Agenda Item 3 Item # 3 Page 3 report for 2020 that contained an overview of the Authority’s activities for 2020 along with a financial snapshot for the North College and Prospect South plan areas. Staff presented the annual report to the Board on May 27, 2021. Staff will continue to produce annual reports and present them to the Board in May the following year. This timing allows staff to present an overview of the previous year’s activities to new Board members following April elections. This timing also allows staff to have financial information that reflects final valuations from the previous year. Strategy 6: Update/develop materials outlining URA processes for applicants and the community. Materials explaining the processes for the URA had not seen an update since before the Board’s expansion to 11 members. Staff recently updated the materials outlining the process for applicants seeking tax increment assistance from the Authority to reflect changes to processes. Changes in the Assessor’s Office has also necessitated changes to the tax increment assistance process that staff will present to the Board on September 23, 2021 along with this agenda item. Following the discussion with the Board, staff will explore ways to present this information in a way that is easy to understand for community members. This will increase transparency of the Authority’s operations. Strategy 7: Align URA Strategic Plan and activities with other taxing entities’ goals, objectives, and plans. The Board expressed an interest in ensuring that the Authority remains aligned with the goals, objectives, and plans of affected taxing entities. This would help minimize the impact the Authority has on affected taxing entities and develop projects that can achieve the objectives of the Authority as well as the taxing entities. Both Community Investment Plans adopted by the Board contain sections highlighting how the Investment Plans support the goals and objectives of other taxing entities. As staff implements each Investment Plan, they will continue to collaborate with each taxing entity to ensure alignment between the Authority and each taxing entity. Strategy 8: Align URA Strategic Plan and activities with partner agencies’ capital investments. Like Strategy 7, staff continues to collaborate with partner agencies on capital investments. Staff began convening a group that meets bimonthly dedicated to coordination of projects along the North College corridor to ensure alignment amongst various stakeholders investing in that area. Staff also participates in several multi-disciplinary groups dedicated to capital investments and will continue to support these initiatives into the future. Next Steps Staff proposes holding a retreat later in 2021 due to the number of new Board members. At this retreat, staff proposes discussing amendments to this Strategic Plan to guide this Board’s operations over the short a nd medium term, amongst other topics. Staff will work with the Chair and Vice Chair in collaboration with a third - party facilitator to develop a retreat agenda and find a time that works for the Board to hold the retreat. ATTACHMENTS 1. Amended Strategic Plan (PDF) 2. Strategic Plan Update (PPTX) 3 Packet Pg. 20 What We Do: Eliminate blight by catalyzing projects and accelerating investments that would not otherwise happen, thereby creating improvements with lasting value through tax increment financing. How We Behave: ●Stewardship ●Transparency ●Data Driven ●Co-creation ●Inclusion Strategy 1: Co-create proactive community investment plans with community members and partners for each plan area. Strategy 2: Develop evaluation criteria for TIF assistance requests based on URA Board retreat. Strategy 3: Amend IGA with City to be consistent with URA Strategic Plan. Strategy 4: Update URA website to improve usability. Strategy 5: Produce annual report for the URA and each plan area. Strategy 6: Update/develop materials outlining URA processes for applicants and the community. Why We Exist: Our residents feel greater civic pride and sense of belonging when reinvestment helps transform blighted areas into vibrant neighborhoods and amenities which enhance the local character, culture, economy, and quality of life. Strategy 7: Align URA Strategic Plan and activities with partner agencies’ goals, objectives, and plans. Strategy 8: Align URA Strategic Plan and activities with partner agencies’ capital investments. Who We Are: The Fort Collins Urban Renewal Authority brings together local, tax collecting organizations to collaborate and remediate blight to create a better community for everyone. ATTACHMENT 1 3.1 Packet Pg. 21 Attachment: Amended Strategic Plan (10649 : Strategic Plan Update) September 23, 2021 Strategic Plan Update 3.2 Packet Pg. 22 Attachment: Strategic Plan Update (10649 : Strategic Plan Update) Background •Board adopted Strategic Plan in 2020 •Guides short and medium term actions of Authority •Regular status update 2 3.2 Packet Pg. 23 Attachment: Strategic Plan Update (10649 : Strategic Plan Update) Strategic Plan Overview The Fort Collins Urban Renewal Authority brings together local, tax collecting organizations to collaborate and remediate blight to create a better community for everyone. Our residents feel greater civic pride and sense of belonging when reinvestment helps transform blighted areas into vibrant neighborhoods and amenities which enhance the local character, culture, economy, and quality of life. Eliminate blight by catalyzing projects and accelerating investments that w ould not otherwise happen, thereby creating improvements w ith lasting value through tax increment financing. 3 Who What Why 3.2 Packet Pg. 24 Attachment: Strategic Plan Update (10649 : Strategic Plan Update) Strategy 1: Co-create proactive community investment plans with community members and partners for each plan area. Strategy 2: Develop evaluation criteria for TIF assistance requests based on URA Board retreat. Strategy 3: Amend IGA with City to be consistent with URA Strategic Plan. Strategy 4: Update URA website to improve usability. Strategy 5: Produce annual report for the URA and each plan area. Strategy 6: Update/develop materials outlining URA processes for applicants and the community. Strategy 7: Align URA Strategic Plan and activities with partner agencies’goals, objectives, and plans. Strategy 8: Align URA Strategic Plan and activities with partner agencies’capital investments. Strategic Plan Overview How We Behave Stewardship Tr ansparency Data Driven Inclusion Co-creation 4 3.2 Packet Pg. 25 Attachment: Strategic Plan Update (10649 : Strategic Plan Update) Status of Strategies Strategy Status Strategy 1 -Co-create proactive community investment plans with community members and taxing entities for each plan area.Complete Strategy 2 -Develop evaluation criteria for TIF assistance requests based on URA Board retreat.In Progress Strategy 3 -Amend Inter-Governmental Agreement (IGA) with City to be consistent with URA Strategic Plan.In Progress Strategy 4 -Update URA website to improve usability.In Progress Strategy 5 -Produce annual report for the URA and each plan area.Complete Strategy 6 -Update/develop materials outlining URA processes for applicants and the community.Complete Strategy 7 -Align URA Strategic Plan and activities with other taxing entities’ goals, objectives, and plans.On-going Strategy 8 -Align URA Strategic Plan and activities with partner agencies’ capital investments.On-going 5 3.2 Packet Pg. 26 Attachment: Strategic Plan Update (10649 : Strategic Plan Update) Proposed Next Steps •Schedule Board retreat •Late 2021 •Discuss amendments to Strategic Plan at retreat 6 3.2 Packet Pg. 27 Attachment: Strategic Plan Update (10649 : Strategic Plan Update)