HomeMy WebLinkAbout09/26/2003AGENDA
WHEAT RIDGE URBAN RENEWAL AUTHORITY
September 26, 2003
Notice is hereby given of a Public Meeting to be held before the City of Wheat Ridge Urban
Renewal Authority on Friday, September 26, 2003, at 5:30 p.m., in the City Council Chambers
of the Municipal Building at 7500 West 29th Avenue, Wheat Ridge, Colorado. (The first part of
tLis meeting including Executive Session is scheduled to take approximately 45 minutes with New
Business to begin at approximately 6:15 p.m.)
1. Call the Meeting to Order
2. Roll Call of Members
3. Approval of Minutes - August 26 & September 22, 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 negotiations, developing strategy for nego4iations and/or
instructing negotiators regarding financing for the 38"h Avenue & Sheridan Boulevard
redevelopment project.
6. New Business
Adjournment
MINUTES OF
WHEAT RIDGE URBAN RENEWAL AUTHORITY
August 26, 2003
6:00 p.m.
1. CALL THE MEETING TO ORDER
The Wheat Ridge Urban Renewal Authority meeting was called to order by Chair
Hashem at 6:02 p.m. The meeting was held in the council chambers of the
Municipal Building, 7500 West 29th Avenue, Wheat Ridge, Colorado.
Chair Hashem announced that Agenda Item 4"Public Forum" would be moved to
Item 7 in order to be heazd after conclusion of the Executive Session.
2. ROLL CALL OF MEMBERS
Commissioners present: Norm Burkpile
Vance Edwards
Mary Hashem
Elwyn Kiplinger
Tom Mallinson
Terrell Williams
Commissioners absent: Janet Leo
Mazgy Platter
Also attending: Alan White, WRURA Executive Director
Jun Windholz, WRURA Attorney
Steve Szymanski, Szymanski/Ray
Ame Ray, Szymanski/Ray
Ann Lazzeri, Recording Secretary
3. APPROVAL OF MINUTES
There being no additions or correcrions, the minutes of August 6, 2003 were
approved as presented.
4. EXECUTIVE SESSION
It was moved by Vance Edwards and seconded by Elwyn Kiplinger to move
into Execufive Session under CRS Section 24-6-402(4)(e) for the purpose of
determining matters that may be subject to negotiations, developing strategy
for negotiations and/or instructing negotiators regarding financing for the
38'n Avenue and Sheridan Boulevard redevelopment project. The motion
passed unanimously.
WKURA Minutes Page 1
OS-26-03
The regular meeting was adjourned into executive session at 6:04 p.m. The
executive session was convened in the second floor conference room at 6:09 p.m.
Those attending the executive session were: Vance Edwazds, Tom Mallinson,
Elwyn Kiplinger, Norm Burkpile, Mary Hashem, Terrell Williams, Alan White,
Steve Szymanski, Arne Ray, Jim Windholz and Ann Lazzeri.
The executive session was adjourned at 7:20 p.m. The regular meeting was
reconvened in the council chambers at 7:25 p.m.
5. NEW BUSINESS
A. Resolution Authorizing Negotiations for Terms of Financing the 38rn
Avenue and Sheridan Boulevard Redevelopment Project.
It was moved by Vance Edwards and seconded by Tom Mallinson that the
Authority authorize the consultant team to continue negotiations with
financial entities for the purpose of trying to secure financing for the 38"" and
Sheridan project and bring the information back to t6e Authority for
consideration. The motion passed 6-0.
Jim Windholz explained that Tatonka Capital changed their terms and asked for
additional security which would cause a significant delay. Therefore, Tatonka
Capital's proposal will be put on hold and negotiations will begin with First Bank.
He stated that negotiations could not begin until financing is secure. Additional
work also needs to take place on the appraisals.
6. OTHER MATTERS
There were no other matters to come before the Authority
PUBLIC FORUM
Terry McFadden
Paradise Billiards, 5250 West 38"' Avenue
Mr. McFadden expressed concern that the reason ihe Authority is having trouble
finding financing is ttiat "the numbers don't work" on this project. Chair Hashem
stated that Tatonka Capital re-traded their terms to the point that it seemed better
to go back to First Bank to see if they would stand by their original offer. Jim
Windholz commented that the Authority may not approve a financing package
unless it is absolutely certain there will be revenues to cover the debt.
Mr. McFadden asked if the appraisals were above orbelow $1.5 million. Mr.
Windholz replied that he could not divulge that information at this time; however,
appraisals provide for fair market value for each of the five properties. He
WRLJRA Minutes Page 2
08-26-03
advised Mr. McFadden that the appraisals that have been received will be
reviewed one more time.
Mr. McFadden stated that delays in the project have harmed his business. He has
leagues that azen't signing with him due to the uncertainty of his situation. He
also has thirteen employees to consider. He stated he has lost confidence in the
process because of delays and problems with financing. The Authority assured
Mr. McFadden that they aze sympathetic with his situation and aze doing the best
they can and will notify property owners as soon as new information conceming
financing is available. Mr. Windholz estnnated that it would take approximately
two weeks to get an answer from First Bank.
Chair Hashem asked if there were others who wished to address the Authority.
There was no response.
8.
Chair Hashem adjoumed the meeting at 7:45 p.m.
Mary Hashem, Chair
WRURA Minutes
08-26-03
Ann Lazzeri, Secretary
Page 3
MINUTES OF
WHEAT RIDGE URBAN RENEWAL AUTHORITY
September 22, 2003
5:30 p.m.
1.
2.
3.
4.
CALL THE MEETING TO ORDER
The Wheat Ridge Urban Renewal Authority meeting was called to order by Chair
Hashem at 5:45 p.m. The meeting was held in the council chambers of the
Municipal Building, 7500 West 29th Avenue, Wheat Ridge, Colorado.
ROLL CALL OF MEMBERS
Commissioners present:
Commissioners absent:
Norm Burkpile
Mary Hashem
Elwyn Kiplinger
Janet Leo
Terrell Williams
Vance Edwards
Tom Mallinson
Margy Platter
Also attending: Alan White, WRURA Executive Director
Jim Windholz, WRURA Attorney
Arne Ray, Szymanski/Ray
PUBLIC FORUM
Jeff Bailey appeared before the Authority to offer another method of financing
that would occur through Cornerstone. Details of this offer would be discussed
during executive session.
EXECUTIVE SESSION
It was moved by Terrell Williams and seconded by Norm Burkpile to move
into Executive Session under CRS Section 24-6-402(4)(e) for the purpose of
determining matters that may be subject to negotiations, developing strategy
for negotiations and/or instructing negotiators regarding financing for the
38"h Avenue and Sheridan Boutevard redevelopment project. The motion
passed unanimously.
The regulaz meeting was adjourned into executive session at 5:50 p.m. The
executive session was convened at 5:51 p.m.
WRURA Minutes Page i
09-22-03
Those attending the executive session were: Janet Leo, Elwyn Kiplinger, Norm
Burkpile, Mary Hashem, Terrell Williams, Alan White, Ame Ray, Jim Windholz
and Jeff Bailey.
The executive session was adjourned at 6:52 p.m. The regulaz meeting was
reconvened at 6:53 pm.
5. NEW BUSINESS
There was no new business to come before the Authority.
6. ADJOURNMENT
The next WRURA meeting will be held Friday, September 26, 2003 at 530 p.m.
in the City Council Chambers.
Chair Hashem adjourned the meeting at 7:03 p.m.
Hashem, Chair Ann Lazzeri, Secretary
WRURA Minutes Page 2
09-22-03
cc
W
H
Z
W
U
Z
Q
~
~
~
a
(r m
O
Q N
w~
x
~a
0
0 0 0 00
o 0
0 0 0 0 0 0 0
0
0 0 0 0 0
0 0 0
0 0 0 0
0 0
0
W
U)
V'7 CO O
N M N N
N ~ O
O O O O
O
Q
(Om M N
a)Lf1r (O
O ~ O c7
-
000 O
w
N C7 ~ 6
V'R V N
0
LC)
000 O
¢
U
Z
n f, o a
oco o co
rn v ~n
tc
V m N (O
u) c`~ tf) (7
' (O (0 O
N
~
0) V (0 O
ln r W ~
CY)~- OJ
OD
F
~y
~
~i
~~i
~
~
~
i
~
N
»v
s ~
»
s
LyJ
a
o 0 0 0
o 0 0
0 0 0 0
0 0
0 0 0 0 180 0
0
0 0 0 0
0
0 0 0
0
0
~
N W O 7
CLO LO (O
m W N (`7
f~ m W O
U)
Q
oJ cD N f-
f~ N c0 N
Ol O) (O N
<O t- t,
N
W
~
M N
~ N ~
~
~ OJ ~ V
N r (O t0
ch
Q
J
N
c'
j
~
U
Z
(O (O N CY)
h 01 ~ (7
a N
N m 01 N
t0
N 1- I,
CY) a) (3) O
N N M V
N N V t0
M
N~
N M M (3
c0 m - h
0) N 00
O aD 'V V
W
o y
n oi o ca
a co m
c
~ v~ ~n
ri m
oi
N
fA ch
EA 6
~
fA EA
6~) EA
tD
EA E/i fA
b3 EA
Vi
f9
\ \ \
o 0 0 0
\
0 0 0 0
\
0 0 0 0
\ \ \ \
0 0 0
\
W
LO 0
0
0
~
) N O
0) V N f,
N O V 0)
N t- P7 ~
uo
Q
N tn I, tn
~
I- V 01 m
N t0 O N
- N(O O)
c7
W
m 1
c7
Lci 'V O c0
T N
N(O N N
ln
~
It V a
V - 07 N
N N
LO r- N
N
U
Z
cor- co o
(Dvrn rn
nU) rn
om~n co
co
oomco r)
rnrnao n
u~mv o
0 rn v
u>
hNN c'Z
rnoao rn
.-rnU) n
(onu) rn
rn
~ F-
N`R h N
<D I~ PJ N
c0 01 01 tA
- 11 r 1~
c7
O(n
N In
ER - M
EA 69 Efl N
N fA r
f+1
N
V) EA EA fA
fA ffl fA
fA
63 EA lf3
~
~
0 0 0 0 0
o 0
0 0 0 0 0
0 0 0
0 0 0 0 0 0 0
0
180 0 0 0 0 0
0
0
0
W
O N N h
(O V (7)
O('J ~ (`7
(7 I- C (O
00
~
'Q N c0 ~
~ O ~ O
~'V cD V
O t0 oJ 'Q
~
Q
W
7 V
N
V
NN
N ~ N
2
tC1(`
J
~
N
N N cO
'
c
J
U
Z
co in a o
v v n LO
n n ao a
o ca r,
ro
rn vLO rn
m ca m co
m n ao
o m o v
Ln
~
aLq O O
N a0 13 ~
O N a t-
c7 V O W
a0
F
p N
0'J 7 t0 a
I- 1- N N
N N O1 CJ
b O lfi O
t0
N
~
~
~
~
~ ~
~
~ ~
~
MVi
V)
M
EA EA
6
9Efi
49
OJ LO V CO
01 0) N c'J
V c0 a0 O
t0 f, (O 0)
O
O0) CO 00
~ h
m W h (O
N N 00 (O
lq
~ W
f, T tn N
N
M V M N
U) N OD (O
M
co
^
~
~
~
f Q
O
j j
N
M V 7 (7
V 7~ (
7
7
V V~ C
N
•-m
fS U~ 6,
~~,6,
~
~
~
~
~
~
m
cc
¢
~
Q F
Q Q
a
F- ~ a
W Lo O] Q
J
~
~
a
w a
a
z
O
~
W
yD
OWW O
~
0
zm
~
<
m }z o
a
~0 a o
~->v
F
O
aw
m
a
n z
~Z)w ¢
vOw
~
-~LL 2 ~
QM~ N
~Q(n c7
0 Z0
N
m
3;
O
O
N
H
U)
F
¢
3