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HomeMy WebLinkAbout06/03/2003~ AGENDA WHEAT RIDGE URBAN RENEWAL AUTHORITY June 3, 2003 Notice is hereby given of a Public Meeting to be held before the City of Wheat Ridge Urban Renewal Authority on Tuesday, June 3, 2003, at 5:30 p.m., in the City Counci► Chambers of the Municipal Building at 7500 West 29th Avenue, Wheat Ridge, Colorado. 1. Call the Meeting to Order 2. Roll Call of Members 3. Approval of Minutes - May 16, 2003 4. Public Forum (This is the time for any person to speak on any subject not appearing on the agenda. Public comments may be limited to 3 minutes.) 5. Executive Session under C.R.S. Section 24-6-402(4)(e) for the purpose of determining matters that may be subject to uegotiations, developing strategy for negotiations and/or instructing negotiators regarding the 38"' Avenue & Sheridan Boulevard redevelopment project. 6. New Business A. Adoption of Resolution Approving Disposition and Development Agreement with Cornerstone Group 7. Old Business 8. Other Matters A. Election of Vice Chair 9. Adjournment MINUTESOF WHEAT RIDGE URBAN RENEWAL AUTHORITY May 6, 2003 5:30 p.m. ~ 2. 3. 4. 5. CALL THE MEETING TO ORDER The Wheat Ridge Urban Renewal Authority meeting was called to order by Chair Hashem at 5:40 p.m. The meeting was held in the Council Chambers of the Municipa] Building, 7500 West 29th Avenue, Wheat Ridge, Colorado. ROLL CALL OF MEMBERS Commissioners present: Norm Burkpile Vance Edwards Mary Hashem Elwyn Kiplinger Kandi McKay Commissioners absent: Mazgy Platter Janet Leo Tom Mailinson Tenell Williams Also attending: Alan White, WRURA Executive Director Ame Ray, Szymanski/Ray Ann Lazzeri, Recording Secretary APPROVAL OF MINUTES It was moved by Vance Edwards and seconded by Norm Burkpile to approve the minutes of Apri122, 2003. The motion passed unanimously. PUBLIC FORUM No one indicated a desire to address the Authority at this Ume. Chair Hashem announced that a public fonun would be held afrer the update on negotiations with Cornerstone Group. EXECUTIVE SESSION Chair Hashem announced that there was no need for an executive session. WRURA Minutes OS-Ob-03 Page 1 6. NEW BUSINESS A. Adoption of Resolution Approving Disposition and Development Agreement (DDA) with Cornerstone Group Alan White reported that Jun Windholz, Urban Renewal attorney, is anticipating the development agreement to be executed by the developer within the week. It could then be approved by the Authority at its next meeting. B. Update on Negotiations with Cornerstone Group Alan White presented an update on the negotiations with Cornerstone. • Jim Windholz is still negoriating a provision which would hold the Authority harmless if any contamination is found on the site. • Due diligence procedures conceming financing, lease agreement, and CDOT access will take place during May and June. • Emironmental studies will take place as soon as access is granted after offers are made. Results would be available within three to four weeks after studies are conducted. . Tenants and landowners will be contacted concerning acquisition and relocation matters prior to July 1, 2003. . Closing date is set for October 28, 2003. If all negotiations aze finalized, the closing could happen sooner. It is anticipated that eight months after closing, a certificate of occupancy would be issued and Walgreens could be open in July or August of 2004. • A tentative funding commitment has been reached with a lender for sufficient funds to move forwazd with the project. Meetings have been scheduled with two other lenders during the next week. • Ame Ray reported that one of two appraisal proposals ($8,500 for analysis and $5,000 for documentation) has been received. He asked the Authority to give authorization for Alan VJhite to enter into a contract, up to $8,500, for an appraiser to conduct analysis of the properties. It was moved by Norm Burkpile and seconded by Elwyn Kiplinger that an expenditure of up to $8,500 be approved for the analysis portion of the real estate appraisal. The motion passed 5-0. Arne Ray stated that he would come back to the Authority to negotiate the environmental study fee at a later meering. ~ WRURA Minutes Page 2 OS-06-03 . Alan White stated that new letters would be sent to landowners and tenants infornung them of the intent to begin the initial purchase process prior to July 1, 2003. . Alan White will be meeting with CDOT eazly next week to discuss access issues on Sheridan. • Alan White is working with the city attomey to work out details of the city entitlement process which includes special use process, consolidation plat, alley vacation, etc. PUBLIC FORUM Chair Hashem entertained public comment at this time. Terry McFadden asked if acquisition and relocation would occur simultaneously. Arne Ray explained that the Authority would attempt to start with acquisition and relocation negotiations at the same time (prior to July i) and deal with them as quickly as possible within the subsequent thirty to sixty days. OLD BUSINESS Alan White stated that Jim Windholz would no longer be abie to attend Tuesday evening meetings and requested that a date be set for the next WRURA meeting. The next meeting date was set for Friday, May 16, at 5:30 p.m. 8. OTHER MATTERS . Kandi McKay tendered her resignation from the Authority because she plans to move out of the city. On behalf of the Authority, Chair Hashem expressed appreciation to Kandi for her service on the Authority. 9. ADJOURNMENT It was moved by Vance Edwards and seconded by Kandi McKay to adjourn the meeting at 6:12 p.m. Mary Hashem, Chair Ann Lazzeri, Secretary WRURA Minutes OS-06-03 Page 3 WHEAT RIDGE IIRBAN RENEWAL AUTHORITY RESOLUTIONNO. 0-2--2003 Series of 2003 A RESOLUTION OF THE WHEAT RIDGE URBAN RENEWAL AUTHORITY APPROVING AN AGREEMENT FOR THE REDEVELOPMENT OF PROPERTIES AT 38Tx AVENUE AND SHERIDAN BOULEVARD WHEREAS, pursuant to the Urban Renewal Law of Colorado, the Wheat Ridge Urban Renewal Authority has authorized its staff and consultants to negotiate an agreement with the Comerstone Group for the redevelopment of properties, including a Walgreen's Store, within the 38`h Avenue Corridor Redevelopment Area; and WHEREAS, the draft agreement submitted to the Authority is in compliance with the 38`h Avenue Corridor Redevelopment Plan. THEREFORE BE IT RESOLVED by the Wheat Ridge Urban Renewal Authority that: Section 1. The draft Disposition and Development Agreement between the Authority and the Cornerstone Group I, Inc. to be effective May 1, 2003, is approved in essentially the same form as considered by the Authority as of the date of this resolution; subject however, to modifications approved by the staff, consultants, attorney and Chair of the Authority. Section 2. The Chair is authorized to sign the Agreement for the Authority subject to modifications as stated in Section 1. DONE AND RESOLVED the day of 2003. Chair ATTEST: Secretary APPROVED AS TO FORM: James A. Windholz, WRURA Attomey