HomeMy WebLinkAbout10/14/2002REVISED AGENDA
CITY OF WHEAT RIDGE
October 14, 2002
Notice is hereby given of a Public Meeting to be held before the City of Wheat Ridge Urban
Renewal Authority on October 14, 2002, at 5:30 t the second floor conference room of the
Municipal Building at 7500 West 29th Avenue, Wheat Ridge, Colorado.
li IFIFIR! 11111101-mmm
3. Approval of Minutes — September 23, 2002
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)(b) and (e) for a conference with the
Attorney for the purpose of receiving legal advice related to the request for proposal
concerning redevelopment proposals for 38 Avenue & Sheridan Blvd.
6. New Business
A. Discussion of Redevelopment Proposals for 38 & Sheridan
B. Discussion of Draft Relocation Policies
A. Set November meeting date
9. Adjournment
r
AGENDA
CITY OF WHEAT RIDGE
URBAN RENEWAL AUTIiORITY
October 14, 2002
Notice is hereby given of a Public Meeting to be held before the City of Wheat Ridge Urban
Renewal Authority on October 14, 2002, at 5:30 p.m., in the second floor con[erence room 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 - September 23, 2002
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. New Business
A. Discussion of Redevelopment Proposals for 38th & Sheridan
B. Discussion of Draft Relocation Policies
6. Old Business
7. Other Matters
A. Set November meeting date
8. Adjournment
MINUTES OF
WHEAT RIDGE UIiBAN RENEWAL AUTHORITY
September 23, 2002
5:30 p.m.
1. CALL THE MEETING TO'ORDER
The Wheat Ridge Urban Renewai Authority meeting was called to order by Chair
Coliins at 5:37 p.m. The meeting was held in the second floor conference room
of tl-ie Municipal Building, 7500 West 29th Avenue, Wheat Ridge, -Colorado.
2. ROLL CALL OF MEMBEd2S
Members present:
Norm Burkpile
Sandra Collins
Vance Edwazds
Elwyn Kiplinger
Janet Leo
Kandi McKay
Members absent:
Also attending:
Tom Mallinson
John Hall
Mary Hashem
Margy Platter
Jim Windholz, Urban Renewal Attorney
Alan White, WRURA Executive Director
Ann Lazzeri, Recording Secretary
3. APPROVAL OF MINUTES
The minutes of the regular meeting of September 9, 2002 were presented for
consideration: It was moved by Norm Burkpile and-seconded by Vance
Edwards to approve the minutes as presented. The motion passed
unanimously.
4. PUBLIC FORUM
There were none present to address the authority.
5. NEW BUSINESS
A. Discussion of Draft Relocation Policv - Jnn Windholz presented a draft
relocation policy for the 38 Avenue project. He explained that relocation
policies aze required by urban renewal law and an individuai relocation
policy is required for each urban renewal project. The Authority can
decide whether or not to hold public hearings on the relocation policy.
WRURA Minutes Page 1
09-23-02
Mr. Windholz requested fiu•ther review by Authority members in order to
have a detailed discussion at the next WRiJRA meeting.
6.
7.
B. Undate on 38th & Sheridan - Alan White gave a brief update on
responses to the advertisements for RFP's. The deadline to-submit a
proposal is October 11. He reported that, in addition to sending out six
additional RFP's, he has been contacted by someone who is interested but
wanted to enter into a confidentiality agieement. Jim Windholz will.
contact this person and discuss the 1egalities associated with proprietary
information, etc.
C. Sales Tax Increment Collecfions - Alan White reviewed the report
regazding sales tax increment collections. These collections amount to a
little over $60,000 through the month of August.
OLD BUSINESS
Kandi McKay requested that WRURA packets include copies of newspaper
nofices and articles regazding the city's urban renewal projects. She also
requested to be informed of other meetings associated with urban renewal.
OTHER MATTERS
There were no other matters to come before the Authority.
8. ADJOURNMENT
It was moved by Vance Edwards and seconded by Kandi McKay to adjourn
the meeting at 6:30 p.m. The motion passed unanimously.
Sandra Collins, Chair Ann Lazzeri, Secretary
~
WRURA Minutes Page 2 `
09-23-02
~F WHEqr
City of Wheat Ridge ~ Po
Planning and Development Department " m
Memorandum
TO: Urban Renewal Authority Members
FROM: Alan White, Planning and Development Director „'y~~~ ~
.~n,
SUBJECT: Redevelopment Proposals
DATE: October 11, 2002
Attached are the redevelopment proposals received as of the 4:00 p.m. deadline on October 1 I"'. An
analysis of the proposals will be presented at the Authority meeting on October 14 th by Szymanski/Ray.
September 20,2002
Alan White
Wheatridge Urban Renewal Authority
7500 W. 29th Ave.
Wheatridge, CO 80033
Re: Southwest corner of 38th Ave. and
Sheridan Boulevazd, Wheatridge, Colorado
Dear Mr. White,
Comerstone Group I, Inc. hereby submits their proposal for the redevelopment of the
aforementioned comer in accordance with THE REQUEST FOR QUALIFICATIONS
and DEVELOPMENT PROPOSALS as outlined and defined by the Wheatridge Urban
Renewal Authority. We appreciate your consideration and if awazded the development
look forward to working with you on our project.
Should you haue any questions or need additional information please contact either Jeff
Bailey or Tim Sullivan.
Very tnxly o
Jef&ey W. Bailey
FIRM & CONTACT:
Cornerstone Group I, Inc., an Illinois Corporation. ( CGII)
Jeffrey W. Bailey
6500 S. Quebec St. #300
Englewood, CO 80111
303-740-8500 ( Office)
303-882-6506 (Cell)
303-220-9134(Fax)
dadbailey@aoi.com (E-Mail)
Tim Sullivan
225 West Wacker #2800
Chicago, Illinois 60606
312-201-2545 ( Office)
312-209-2213 ( Cell)
312-201-2549(Fax)
TCGIITS@aol.com (E-Mail)
Qualifications, Experience & References:
The associates of (CGII) have over 70 years experience in Commerciai, Industrial and
Residential Developments. States where they have developed include Iowa, Indiana,
Illinois, Wisconsin, Michigan, Florida, Arizona, and Colorado. Constnxction and
Development include single and multi family residential, industrial warehouses and mini
warehouses, office buildings, marina, shopping centers and single tenant retail.
References may be produced if needed, however Jeff Bailey has worked directly with the
City of Wheatridge in the past and (CGII) is a preferred developer far Walgreens, the
tenant for this project.
Develonment Plan:
As indicated with the enclosed site plan, (CGII) will develop a free standing 14,000 -
15,000 square foot Walgreens Drug Store with pharmacy drive - through. The project
will be constructed on parcels 5208, 5250, 5280, 3718, part of parce13749 ( North 75'
along Sheridan) and the City alley which is adjacent to these parcels.
Walgreens has given CGII a commitment far this development in accordance with the
enclosed site plan. The initial lease term is for 25 years, with multiple extensions
thereafter.
Schedule:
Since CGII already has Walgreens approval our schedule would be:
4-6 months to get site plan approval with City of Wheatridge,
including alley vacation and use permit approval for the
drive - throughs.
2 months to obtain building plan approval.
5-7 months construction depending on weather conditions.
Our financing is in place.
Contingent are site p1an approval from City of Wheatridge in accordance with the
Walgreens approved site plan including full access cut on Sheridan.
Also, the site to be delivered to CGII free of any hazazdous materials, and clear of all
buildings and improvements.
Purchase Price & Terms; Financing
CGII to pay $1,200,000 cash for the delivery of the site. CGII has financing available to
complete the project.
WRURA Assistance:
CGII if selected far this project will loan WRLIRA $1,200,000 @ prime + 1% for up to
1 year to aid WRLJRA in their condemnafion, tenant relocation, and site preparafion.
- -
-
- i
- -
- -
CCIRNER
I :
j
~
387'r
PVENUE
.
PER CITY
~
$TREETSCAPE
~
. an •S •
~
I
SIXNLLx
. 'v'N l5
~
" '
1
o-1Rf.[t QCC(
_
_ _ ~ _ _ _
3
a
y
❑ll
I
.
'
szea
I
szsoc,~
5208
~
°U`
~
I
'
❑
'
I
n
R
T
I
I
I
I
I
'
I
-
t
y'
~
~
~n
pMCbt A9G
Oi/0p4
~~61 SI
ax n4UPYG J w/C ~
'SM
A
~
❑
~
I
'
W
K
I
W
~
1
P
K25
l
V
4
.
'
I
G
6$I~fq{Ira~.s~T~82
~
iJ
I
.
I
aLLEY
~rx
i+t-r
5250(b)
3749(a)
91~IUr6 SRfl+cx 6
I
.
'
I -
g
~CKIN
L
~
C
~
37t8
~
~
~
I
37d9<bl
- -
_ ~
- - -
I
~
PAEl1MPJAAY
I ~
SfiE PVR4 LAN
L
I
p 1 A
I
.
ECKERD DRUG STORES
AND
THE CITY OF WHEAT RIDGE,
COLORADO
A SUCCESSFUL PARTNERSHIP
October 1 1, 2002
`
CONTENTS
1. Cover Letter
II. Site Narrative
a. Exhibit A- Site Plan
b. Exhibit B - Elevation
c. Exhibit C - Aerial
d. Exhibit D - Demographics
IIL Letter of Intent
a. Exhibit E- Development Budget
b. Exhibit F - Timeline
IV. Letter from Eckerd
V. Letter from Developer
a. Exhibit G- Bank References
b. Exhibit H- Developer Brochure
VI. Information on Eckerd
OrakelCentres/MisWJliWI Wage Proposal
C E N T R E S
-
October 11, 2002
YL4 HAND DELIVERY
Mr. Alan C. White
Wheat Ridge Urban Renewal Authority
7500 W. 29"' Ave.
Wheat Ridge, CO 80033
Re: Response to tl:e
Dear Alan:
I N C.
We aze pleased to submit this offer to the Wheat Ridge Urban Renewal Authority. As we
have discussed, this information is highly confidential due to the competitive sensibilities
; of our client. Our proposed tenant for this project is Eckerd drug stores. You may not be
familiar with this company because they are based in Lazgo, Florida. Eckerd has been in
business for over 100 years and they have over 2,000 stores. Because of the high demand
in the drug industry, Eckerd is expanding west to satisfy their growing customer demand.
Eckerd is similar to Walgreens in terms of the size of the store and the need for drive-thru
facilities, but they separate themselves from their competitors by providing outstanding
customer service and by participating in the local communities that they serve. Eckerd's
goal is to have every store be the "neiohborhood drug store° see Exhibit H for more
tenant information). y
We believe that our proposed development will strengthen popularity of the 18ffi Avenue '
'corridor and wzll add to the signing entrance that the City has created at this intersection.
Eckerd will be an excellent ameniry for the neighborhood and will have a positive lono
term impact on the community.
Centres, Inc. intends to have a lon- and successful future in Colorado. Please call me if I
can answer any additional questions or concems you may have.
Sincerely,
t harlton
Senior Vice President, CFO ,
Real Estate Decelopment • Consvuction • ltanagement
T~o llatr:in Cen[rr_ Jui[r 1523. 9130 ~,octh Dadeland Bouleta:d. >Ilaini. FL 3315() i305i 6-u-199' Fax (3p7) b-u--t+,.-)
SITE NARRATIVE
The cocner of 38th & Sheridan is a very important part of Eckerd's entrance into
the Coforado market. This will be an excellent location for Eckerd largely due
to the demographic profile for the area, which is excellent. The residential
population in a 2-mile radius is 69,726; the median household income is
$37,533 and the traffic through that intersection is over 60,000 cars per day
see Exhibits C and D- Aerials and Demographics). The strong demographic
composition combined with the fact that King Soopers, the dominant grocery
store for the area, is across the street make this location perfect for a
neighborhood drug store.
The City of Wheat Ridge has made great efforts to make this intersection the
gateway to the City. This type of high-profile intersection is exactly the type of
real estate that Eckerd is looking for as they make their initial penetration into
the Colorado market. We will make great strides to comply with the 381h
Avenue streetscape criteria and architectural manual (see Exhibits A and B- Site
Plan and Elevations). Eckerd will be able to match the brick that was used on
the entrance feature and we incorporate and extend the railings, walls and
benches that have been constructed on 38th. We will provide convenient
pedestrian access from the bus stop and sidewalk to the store. Our proposed
development will greatiy improve the neighborhood by demolishing all of the
structures within the redevelopment boundaries, vacate the existing alley and
reduce the number of access points into the new development. The City
requires a 20% coverage ratio for landscaping that equates to 14,587 SF. Our
plan will exceed the amount required. We will be screening the rear of the
property with a 6-foot high wooden fence and heaving planting. The existing
property will be replaced with a freestanding, single-purpose masonry structure
that wiil generate increased tax dollars for the City and serve the needs of the
community.
D-ake/CemreY38° 8 Snentlarvwneat Ridge PmOOSai
I =
~
Q
~
m
EXHIBIT A
q„
File
10
mm
mt
o
z3
N ~o
1m
~ O
y~
0
O Q
.
'~~0m
d o m .
~
UAI9
Nb'41?J3hfS
~ m
o a ar
O fn ~ ft/1
p
~ ~
.
W nm
ZIW W
i}{~e
W al
m N
~
N m
i
-
i
t7 f0
0 0
f-
N
O 3TUOw
~ch
~
t
°
=
i
Ov V$ rn
R
i
~
/
Y-~ 1~1 I~i c~i ll 6 ~
r M'I~P~RPV~PIp y
I
~ ~
I°
~
j
Ri..
W.
W
IK
K
~
W
~
o
~
I
p U)
w
~
e
`
W 2
o
>
~
N gL
43
Y F-
° ~
I
~
U M
2
06
J
11
1 Z
LLI
~
a
Q
<
~
o
-
-
~
O
-
p
. M~~PKMV'0RC .
•
~
LL
~11
V./ .
~
~
1~~15 S3Wb`
~
L g
- - - -
J ~N"s
Q J ==o
W.~ _o
om
ry
W
W
H
a
-
Q F
-
r) W
EXHIBIT D
SUMMARY DEMOGRAPH/C PROFILE
2000 Census, 2002 Estimates 8 2007 Projections
Ca/culated using proportional b/ock groups
LaULon:39.7694/-105.053 October2002
2002 Es6mated Population
5,002
19,417
40,893
z
2007 Projected Population
5,106
19,814
41,707
0
2000 Census Population
4,966
19,283
40,620
5
1990 Census Population
4,692
18,239
38,467
p
Historical Annual Growth 1990 to 2002
0.6°a
0.5%
0.5%
a
Projected Annual Growth 2002 to 2007
0.4%
0.4%
0.4%
2002 Median Age
377
37.5
37.5
2002 Estimated Households
2,351
8,923
18,679
.
2007 Projected Households .
2,413
. 9,129
19,120
•
2000 Census Households
2,326
8,840
18,486
1990 Census Households
2,177
. 8,300
17,264
•
Historical Annual Growth 1990 to 2002
0.7%
0.6%
0.7%
Projected Annual Growth 2002 to 2007
0.5%
0.5%
0.5%
z
2002 Estimated White
81.7%
83.0%
82.1%
0 v
2002 Estimated Black .
0.8%
1.0%
12°/a
2002 Estimated Asian 8 Pacific Islander
1.2%
1.5%a
1.8%
a
2002 Estimated Other Races
16.3%
14.5%
14.9%
m
. .
a
. 2002 Estimated Hispanic . . . .
. 29.0°0 . .
.28.1°a
29:4°a
2002 Estimated Average Household Income
$37,391
$40,819
$41,856
•
2002 Estimated Median Household Income
$37,025
$37,775
$37,823
2002 Estimated Per Capita Income
$17,793
$19,327
$19,438
;
2002 Elementary
5.4%
4.6%
4:8%
~
2002 Some High Schaol
13.9%
11.5%
112%
a
2002 High School Graduate . . .
272%.. .
27.8% -
282%
Z
2002 Some College
24.9%
24:3%
24.2%
0
2002 Associates Degree Only
6.5%
6.7%
6.1%
V
..2002BachelorsDegreeONy . .
15.3%
17.0%
17.0%
p
2002 Graduate Degree
6.9°/a
82%
8.5°/a
W
Number of 8usinesses
195
668
1,339
Total Number of Employees
1.229
5,172
11.139
Daytime Popuiation per Business
6.3
77
8.3
Residentiai Population per Business
257
29.1
30.5
R57
69,726
72,060
68,883 =
t
63,315 ~
s
0.8% `
07%
36.0 d
S
~
30,206
31,189
5
29.820
-
27,588
0.8%
0
E
0.7%
~
78.5%
-
"
1.4%
~
1.7%
s
18.5%
35.1 %
e
$41:754
E . . . .
$37,533
. .
a
$18,466
5.3%
E
12.0%
-
28.6%
23.3%
-
5.7%
16.6%
~
8.5°/a
~
s
8
2.580
-
~
25,966 I
10.1 '
27.0 ~
02002. Sites USA. Tempe, Arizona. 480-4914112 . Demographic Source: AppliedGeographic Solutions 06l02
C E N T R E S I N C
~
~
October 11, 2002
VIA HAND-DELIVERY
Mr. Alan White
Wheat Ridge Urban Renewal Authority
7500 W. 291^ Ave.
Wheat Ridge, CO 80033
Re: Purchase o( the Proaertv Located at the SWG of 38th & Sheridon, Wheat Ridqe, CO
Dear Alan:
This letter will serve as our proposal for the purchase of the above-referenced real estate
under the following terms:
l. Sellec City of Wheat Ridge.
2. Purchaser. Centres, Inc.
3. Pro e. Redevelopment area defined in the RFP (approximately 1.65 acres).
4. Purchase Price. $1,400,000 for approximately 71,874 SF of land
5. Earnest Mone4. Within five (5) business days after the Effeciive Date, Purchaser shall
- deliver-to Escrow Agent (Republic Titie of Texas, 2626 Howeil St., 10th FI., Dallas, TX
- 75204, Attn: Janine Barber, 214-855-8888) an Earnest Money Note_ in the amount of
$10,000, which shallbe refundable du(ng the Contingency Periods.
6. Effective Date. The Effective Date ofithe Agreement shall be the date on which the
Purchase Agreement is fuliy executed and retumed to Purehaser: '
7. Glient Aqproval Period. Purchaser shall have thirfy (30) days from the Effective Date
to'obtain client approvai, gt Purchaser`s sole and absolute discretion.
8. Purchaser's Inspectiorr Period. Purchaser shall have one hundred fifty (150) days from
the expiration'of the` Clienf"'Approval Period to perform its due diligence and to
" determine if.the Property is suitable to Purchasec, in Purchaser's or Purohaser's client's
sole and` absolute discretion.' Purchaser shall indemnify Selier for its actions and
_ restore.fihe Property on accounY of its activrfies: Purchaser and/or iis agents and
- employees shdif have unlimited access to the Properfy to conduct studies and
inspeciions. _
Real Estate Decelopmen[ + Construction • ilanagement
T~cu Ixtrran Centri: ?altr ISLN. 9130 Suu[h Dadeland Buule% ard. Miumi. FL 33156 i30~) 6-0-199- F1s 1.305~ oU-Ai 'y ~
~
Mr. Alan White
October 11, 2002
Page 2
9. Seller's Due Diliaence Items. Within seven (7) days of the Effective Date, Seller shall
provide Purchaser a copy of any existing environmentai reporfs, leases, contracis,
surveys, plans or other information about the Property in Seller's possession. Purchaser
shail conduct additional testing, if deemed necessary.
10. Extension of Insqection Period. Purchaser shall have the right to extend the
Inspection Period for four (4) thirty (30) day periods upon the deposit of Additional
Earnest Money in the amount of $2,500 per each extension, which shall be
nonrefundable, but applicable to the Purchase Price.
11. Leaseback. Selier's tenants shall be allowed to stay in the Premises (leaseback) for a
period of thirty (30) days after Closing, free of rent. Seller shall maintain proper liability
insurance and pay all utilities and shall indemnify Purchaser for any legal action and
shall remove ali hazardous materials upon vacating the Premises. Seller shall pay
$1,000 per day for every day Tenant remains after the Lease Termination Date.
12. Salvape Rights. Seller's Tenants shall be allowed to take any or all items on the
Property or attached to ihe building, provided all such items are taken within thirty
(30) days after closing or they shall be deemed abandoned.
13. Site Condition. The Property shall be delivered to Purchaser at Closing in "AS IS,
WHERE IS" condition.
14. Tenancies. The Property shall be delivered free of tenancies, contracts and Landlord
obligations.
15. Closinq. Within thirfy (30) days from: (a) ihe end of the Inspection Period, or
(b) Purchaser obtaining all governmental approvols and giving ten (10) days' written
notice to Seller. The closing shall take place at ihe office of the Title Company or a
mutually agreeable location by the parties.
16. Title Insurance Commitment. Purchaser shall be responsible for ordering title
insurance commitment disclosing the title to ihe Property to be good, marketabie
and insurable, subject only to the exceptions which Purchaser is willing to accept (the
"Permitted Excepfions"). Purchaser shall notify Seller of any objections to title prior to
the expiration of the Inspection Period. Seller shatl pay for the title policy at closing.
17. Assiqnment of Apreement. Purchaser may assign its rights under ihis Agreement,
subject to Seller's reasonable approval, or to a related entity, which does not require
approvaL
18. Disclaimer. The Letier of Intent sholl noi be binding upon the parties until a contract
has been executed and delivered to both parties. The parfies acknowledge that this
non-binding Letter of Intent does not address all the essential terms of ihe Purchase
Agreement contemplated by ihis letter of Intent, and that such essential terms will
be the subject of further negotiation. Neither party may claim any legal rights
against ihe other by reason of any action taken in reliance upon this non-binding
Letter of Intent including, without limitation, any partial performance of the
transactions contemplated herein. The parfies acknowledge and agree that either
party shali have the right fio terminate the negotiation of a formal and finai Purchase
Agreement for any reason or no reason and ihat neither party owes the other party
Mr. Alan White
October 11, 2002
Page 3
any duty to negotiate a formal and final Purchase Agreement. This Letter of Intent
shall be subject to withdrawal or modification at any time by either party and in any
event will terminate on October 31, 2002.
AGREED AND ACCEPTED:
CITY OF WHEAT RIDGE
Name Date
EXHIBIT E
Land Cosl
Demolidon
Soil CortecUOn
Special Assessments
Real Estate Taxes
Demolition
Land Cost Sub ToWI
Hard Costs Building
Site Work
Contribution to Leasehold tmprovemen
Soil Correction
Signage
Con6n9encY @
Hard Cost Sub Total
ioft Costs Interest Reserve
Ciry Approvai Process
Water Tap Fees SeNer Tap Fees
Gas and Electric Fees
ConsVUCGOn Tesbng
Bank Loan Fees
Perment Loan Fees
Pertnanent Lenders Atty/dtle/arch
Real Estate Taxes dunrgconsV.
Inwrance during Construction
Bank Mchitect
Bank Attomey BortwoersArchIMEP/SWCtu2VCivif
Borrowefs Attomey
Title & Cbsing Costs
Geotechnipl 8 Soil Tests
Environmental Report (Phase I only)
Asbesros Report
f+PPraisal
Survey
Leasing Commission
Overhead/Administrative
Development Fee
City InspectioNReview Fees/Bonds
TravN & Miscelianeous Contingenq Soft Cost Sub Total
-OTAL PROJECT COSTS BEFORE SALE
EekerBs Drua Store
SWC 38th and Sheridan
Preliminarv Estimate of Proiect Costs
71.874 sf @. .
$19.48
psf
$1.400,000
0
14.000
0
0
68 000
13,860sf@
E75.00
psf
E1.039,500
77,874 ac @
E6.00
pst
431,244
ind
0%
0
4
$110,477
18,000
22,000
16,000
18,637
16,000
34,551
0
0
B.000
5,000
7.600
12,000
75,000
38.000
5,000
7.000
6,000
7.500
6,000
preliminary
4,000
platting documents
3,500
fonda6on
1,200
as-built
3,000
-
$0.00
psf
0
5,000
50.000
.
.
-12.000 .
0
ts
140,000
10/11/2002
$1,482,000
a,.n7oaaa
E637,465
3 584 209
\
EXHIBIT F
ESTIMATED TIMELINE
Contraci Negotiation 10/15/02
Development Agreement Negotiation 10/20/02
Contract Execution 11 /15/02
Due Diligence Items Ordered 1 1/16/Q2
Development Agreement Execution 12120102
Submittal to City 2/15/03
Response from City 3/1 /03
Re-submittal to City 3/15/03
Response from City 4/1 /03
Final $ubmittal to City 4/1 S/03
Due Diligence Completed 4/20/03
Final CityApproval 5/1/03
Close on Property 5/15/03
Commence Construction 6/1 /03
Construction Complete 10/1 /03
Eckerd Open For Business 12/1 /03
Omxe/Cemre4MwJJneat Po09e Proposal
LECKE
October 7, 2002
Mc David Charlton
Centres, Inc.
Two Datran Center
9730 S. Dadeland Blvd., Ste. 1528
Miami, F133156
Re: Eckerd Drua Store's Expansion Into Golorado
Dear David:
Piease share this letter only with people who require this information in order to complete the
targeted expansion areas. As you know, our expansion plans are confidential and all
prospective land setlers and other related parfies must be held to a strict confidentiality
agreement.
The first Eckerd drug store opened over 100 years ago in Erie, Pennsylvania. Over the years, ihe
company has grown ot a strong, but well managed pace. The aggressive expansion is needed
in order to keep up with the growing customer demand. Eckerd merged wdh JC Penney in
1996, which ailowed the company to maximize its growth potential and to compefe on a
national level. Eckerd currently has 2,640 drugs stores in 20 states with gross revenue in the year
2000 of $13.1 billion. The average freestanding drive-thru faciiity has a gross saies volume of over
$b million annually. A large parf of Eckerd's success comes from focusing on serving the
customer and knowing the imporfance of being a good neighbor in each community. Eckerd
takes great pride in its philanthropic spirit with organizations such as: Children's Miracle Network,
United Way and United Negro College Fund, as well as extensive pharmacy student loan
programs. Eckerd believes that being a good neighbor is good for business.
Eckerd has a strong presence on the East Coast, Southeast and Texas. Their commitment to
serving their customers has expanded to the state of Arizona, where the first of many stores is
under construction. Their interest and strategy for Colorado is similar to the phoenix market.
Eckerd realizes there is a need for a drug store that is focused on the customer and the
community. Eckerd's intention is to secure'30 to 40 locations for its initiai entrance into Colorado.
The long-term goal is to be the dominant neighborhood pharmacy in Colorado with over 100
locations. Eckerd's current national expansion plan calis for 200 to 250 new stores, most of which
wiii be in the selected new markets. Eckerd is very optimistic about The future of the drug store
industry and is very excited about it's plans to serve its customers in the state of Colorado.
Sincer ly,
~
eve Messing
Regional Vice President of al Btate
4,:;i: PO 4659, Clcamatcr. FL 33758 8333 Bn,-an DainRd. Izrw t FL 33777
. , _ . 7. i95.fAX' . .
C E \ T R E S I N C.
October 11. 2002
VIA HAND DELIVERY
Mr. Alan C. White
Wheat Ridge Urban Renewal Authority
7500 W. 29`h Ave.
Wheat Ridge, CO 80033
Re: RFPf'or the SWC of38`* & Sleeridan
Dear Alan:
Kenneth B. Karl established Centres, Inc. in 1982. Initially, Centres, Inc. was the pioneer
of outlet mall development throughout the Midwest. The company evolved into a
national retail development company. Centres, Inc. has developed over 200 projects in
20 states that totals over 9,000,000 SF (see Exhibit I for a company brochure). Centres,
Inc.'s success comes from having excellent relationships with its clients, a strong network
of local affiliates and unrestrained financial capabilities to perform (see Exhibit J for
Bank References). Centres, Inc. has entered the Colorado mazket for the purpose of
building Eckerd drug stores. Eckerd has selected Centres, Inc. as one of the four
prefened developers it will use to build-out the Colorado mazket and other westem states.
Centres, Inc. has formed a partnership with a local development fum that gives the
company a presence in the market, access to extensive local knowledge and provides an
instant network of experienced consultants.
Centres, Inc. intends to have a long and successfu] future in Colorado. Please call me if I
can answer any additional questions or concems you may have.
Sinc
David Charlton
Senior Vice President, CFO
Real EsLnte Decelopment • Conswction • lfanagement
T~No D-iv:ir. Cee[er. $uCre 1538. 9i36, Soudi DadeLind Boulr%:.rd. JIIamL FL 33156 (305) 6-o-199- Fas tiu» 0-0--+129
EXHIBIT G
Bankof America ~
Bank ofAmerica
Redl F3tate Banking Group
F16-808-09-01
pne Fnantlal Plaia, 9[h i'loot
Forc lauderdale. FL 33394-0100
Fax 954.765.2'-64
fax 954.765.2115
September 26, 2002
To Whom It May Concem:
This lerter shall serve as a reference for Centzes Inc. ("Centres") in regards to its past and present
construcrion borrowing capacity wich Bank of America, N.A.
We have done business with Kenneth TCarl and Centres over the past ten (10) years_ The
majority of that business has concentrated on retail rea] estate development lending. We have
provided various conswction loans and lines of credit to Centres coverina various projects from
free-standing to multi-tenant projects with loans randin; from three million dollars ($3,000,000)
io ovcr ten million dollazs (510,000,000).
Centres has been provided total loan dollazs in excess of fifty million dollazs ($50,000,000)
ouutanding at one time, and has provided full payoffs on every loan issued. Aggregate financing
has exceeded one hundred fifiy million dollars ($150,000,000).
Aii loans and accounu have been handled as agreed and we look fonvard to continue providing
consvuction financing for Cenires on various projects throughout ihc U.S.
If you have any other questions regazding Centres and/or Kenneth Kar1, please feel free to
cantact me.
$incerely, ii~
~ D
nanion J. virtuosa
senior Vice President
(954) 765-2167
~
. . 20"79 .1 ~ ~ . . .
National Bank
F L O p 1 v q
September 26, 2002
To Whom It May Concem:
Jonathan Rehman Senlor Vice Presidar
Thi.s leuer shaIl serve as a reference for Cenues Inc. ("Centres') in regards to iTS past
and present construcrion borrowing capaeity with City Narional Bank af Florida.
We have dane business with Kemeth Kar] aad Cenues over the past ten (10) years.
The majority of that busiaess bas conceauated on retail real estate development
lending. We have provided va:iaus construction loaris and lines of credit io Centres
covering various projecu $om free-standing to mulii-tenani projects with loans
zaaging ft,om three miIIion dollars ($3,000,000) to over ten million dollars
Centres bas been provided total loan dollars in excess of fiRy million doll3Ts
($50,000,000) autsranding at one time, and has provided fulf
paYOffs on every loaa
issued.
we have set up a leading faciliry fnr Centres in e;ccess of twenty-five
lars ($25,000,000) concenhated on certain retailers (free standiag) witjun
s locaied iu the 1Jnited States.
ff you have aay other quesuoas regazding CenBes aad/or Kenaerh Karl, please feel
free to coataet me.
Vice President
25 W. Flagler Street, Miamf, Florida 33130 305-577-7322 305-577-7401 Fax Wtvar,p7ynat;ona1.com
EXHIBIT G
EXHIBIT H
~
CENTRE
~ +y~~• b ~ , ~ .
~ ~tii.~
~iJr
S INCs
~
~
tl
r
9 ~ ! 1 ft '.Z~~J ~ ~3+ ~ .
RETAIL DEVELOPMENT &
CONSTRUCTION MANAGEMENT
"Ceatres /nc, enhances the va/ue of
retai/ projetts and minimizes tenant and
investor cost and risk through proven
and effective development systems, best
industry practices and unpara//e/ed
resources
Kenneth B. Karl
Chairman and CEO
Cenfres Specializes In Retail Development
Centres Inc. Profile
Centres Inc. is a full service real estate
development and construction management
organization, specializing in retail development.
Centres inc. offers the experience and financial
stability to develop a single facility, or manage
an entire roll-out.
Centres Inc. has developed over 200 retail
projects, in 20 states, totaling over 9,000,000
square feet.
Centres Inc. projects have included mixed-use,
factory outlet, small box, big box, supermarket,
neighborhood and specialty centers.
Centres Inc. develops projects throughout the
United States.
Centres Inc. was established in 1982 and is
privately held.
BLOCKBUSTER
viDEo
Centres has developed over 200 projects
Centres Inc. Customers
Best Buy Company,
Blockbuster Entertainment,
BordeCs Books,
Budington Coat Factory,
Circuit City Stores,
CompUSA,
Costco Wholesale Corporation,
' CVS Corporation,
Dollar Stores,
Eagie Foods,
Eckerd Corporation,
Garden Ridge,
Farm & Fleet,
Fashion Bug,
Food Lion (Kash n' Karry),
The GAP, Inc.,
Hallmark Cards,
JC Penney's,
Just For Feet,
Kash n' Karry Food Stores,
K-Mart Corporation,
Michaels Stores,
Muvico Theaters,
Nationsbank,
Office Depot,
Office Max,
Old Navy,
Osco Drug,
PETsMART,
Pier 1 Imports,
Regal Cinemas,
Revco,
: Roundy's Pick'N Save,
Super Valu, Inc.,
Starbuck Corporation,
The Sports Authority,
Walgreen Company, and
Wal-Mart Stores.
MPERiAtU
Centres Inc. Develops America's Retaii Marketplace
Centres inc. Activities
Centres Inc. develops retail facilities for
national and regional tenants, whether publicly
traded, or privately-heid.
Centres Inc. serves retailers prefemng to out-
source project development and facility
ownership.
Centres Inc. serves retailers preferring to focus
on their core business - operations.
Centres Inc. serves investment and sub-
investment grade retailers preferring "off
balance sheet" financing of new facilities.
Centres Inc. offers "single source
accountabilif}? development and construction
management programs, offering either build-to-
suit, or fee-for-service, development programs. AN
Centres Inc. develops retail projects with
quality and value, serving tenants, customers,
investors and communities alike.
Centres Otfers Build-To-Suit and Fee-For-Service
Development Programs
Centres Inc. History
Centres Inc., a reai estate development and
construction management company, was founded in
1982, by Kenneth B. Karl. Centres remains whoily
owned by Mr. Karl.
Centres lnc. originated outlet center development with
eight outlet centers, comprising approximately
1,300,000 square feet, in Wisconsin, Minnesota, lowa
and Indiana, during the 1980s.
Centres Inc. then shifted its focus to neighborhood
center development, in 1986. Through an alliance
with Kmart Corporation, Centres Inc. developed
twenty-four neighbofiood centers, with Kmart as an
anchor tenant, over the next seven years.
Centres Inc, currently focuses on the development of
single tenant, net leased properties, as well as
supermarket centers and speciaity centers, with an
emphasis on build-to-suit programs for nationai
tenants such as Office Depot, Eckerd Drugs, Food
Lion (Kash n' Karry), Walgreen Company, Blockbuster
Vdeos, Office Max, Pier 1 imports, Regal Cinemas,
Garden Ridge, Best Buy Co., Roundy's Pick `N Save,
and Wal-Mart.
Centres Inc. has developed over 200 projects, in 20
states, totaling over 9,000,000 square feet.
Centres Inc, has access to a wide range of financial
and professional resources, as well as tenant
relationships, through its nationai network of affiliates.
In addition to retail development and construction
management, Centres inc. through its affiliate,
Centres Management, inc. provides equity,
construction and permanent financing services.
FCKE =
Get hlore,r~~^
Centres Inc. Has Developed Over 9,000,000 sf of Retail Space
Centres Inc. Contacts
Miami Office
9130 South Dadeland Boulevard
Suite 1528
Miami, FL 33156
Phone: 305.670.1997
Fax: 305.670.4429
Charlton, David K.
Senior Vice President - CFO
305.671.1102
david charlton(~centresinc.com
Kari, Kenneth B.
Chairman and CEO
305.671.1100
ken kart a(~centresinc.com
&hechter, Rosa E.
Senior Vice President - General Counsei
305.671.1125
rosa.schechter@centresinc.com
Phoenix Office
3930 East Ray Road
Suite 240
Phcenix, AZ 85044
Phone: 480.759.4870
Fax: 480.759.4872
Dorantes, George M.
Construction Manager
480759.4870 ezt 10
; gdorantes(cDcentrespxinc.com
Prather, Jason P. ,
' Development Manager
480.759.4870 ext 11
jprather(a~cenVespxinc.com
Schmid, David W.
' Senior Vce President - Development & Construction
480.759.4870 ext 12
dsch mid(dcentrespxinacom
Centres Inc. Phcenix Office
A
~
~
~ ~ 6 0
p y~ O
Z S m i L"
~gzR
~ S U a
mm
N ~J
h t~ tD N N t0 N t7 O O~ m tD O O O- ~ O O O t7 ^ O O ~
N< N O W t7 lll N' t0 (O f0 ~ -
<O
al ~ N t0 N A I~ t7 ~ t~'l M O O S(O O O ~ O Y] ~ N~ O~ m ~~O t~0 ~ N ONi ~ N~ ~ OPi
N m O~ O O) O) c7 t7 t7 p
N N N N N N f7 N N ~ N N N N t0 tO f0 1~ n l~ t~ 1~ 1~ ~ 1~ 1~ I~ I~ 1~ 1~ l~ t0 1~ (7 1~ 1~ r n n
inl3ai~ai~>LL333
c
vi a m m a3i ~ o ao ao o o, o 0 0 " m o m
~ m -c m o ~ m m 2 2 a ~ ~ 'c o o y c t 'c ~ 'c ' `o 'c
V c a~° cQ 3 s~o c m .cp ~ cQ U' r oC¢¢ a t n oC~o @ 0C, 0~ co v m z-° o b'
y C ~ C t O N m~? C 6~(31 E~ m Q C C C~ m~ 6 C E 6 Q L~ 3 t0 6 Q C~ t
tO O~ m O V t0 3 6p A 2' d d Y~ C~ N NO tO C m~ L t0 tV O tO 0 3 d a T L tO L t tJ J
(n U' !J Q CJ `2 > 2 Z 2 6] N m m ~ O Y Q. N 6] S N~n <n ~
~
~
J
~ o
W ~ > ~ J Vl T T` N
~O T C'j p~ C N F° Q
a N a~ i c Q m N ~ O] cLi ~ . y Q ~'in c VJ m _
d c rn ~ E¢~
v ~ = m ~ a~ N a> C m. o o~¢`~ - o,
V Q N ~ C N ~ d N L d N~ C 1~ ~ m~ L Q Q J C~~ t~ 0.
_ a c m> o> m c c' d Z~n(7 y y~.02~o`m d00 a ~
O~ c >~NmO ~ >>ina°eo69hC~¢u~ni~..p.~.~.tn¢o~~p`
V1` m s y~> a°-~ A c ~ aiOi c c m° 9`m °m° c~°(p m~~~ m B~ 3 O cti N~ `m ao
Q/ ' O) d N C Q L N'C m O O O Q B. ~ Q C 3 O S O~ O m. 2¢:~ O W t0 L N
L n2 ~OS=Uma w L'~m~,¢-vim 2~m¢a7mm~u ~m¢o>>am~ino
Ol $ L
72 . L~ N t r O O O 2 O N3 O C~ a O CT m LL N~ ~ L N L ¢ v
d ~ m~ Q t7
U W Z (nLL LL !n O O
W > ~ G7 ~ U(:J Q ~ N 2 ~ 3 O -Cj N N
= Ol ^ ~Np O N Q Op~~ Z OJ N(7 U g VI W O LL< N W Wp. th O
v rn m th ~ m Yf O m~ ~ O) t~ 3 N O) ~✓i ~O Q! Y~ N O a0 tOp O N O O C N u'1
N ~ m ~ CJ Q N[O N
~ ~p ~p N tp ~ G7 O 1~ m m~^ ^ Q N O N Q O~ OY N
6 ~ tn i(] Ol CJ Q N fO C) mm N~N OJ O~ oJ
(O
Q N Q Q ~ p N Q 6
2 Z Z p N r Z Z 2 N N N< OJ Of ~p ~ N t0 N~ N m W NN[O
. y N O~ ~ NN O O N N O[D C) O O N N O t7 O'1 O C'i CJ N f7 [~l N
U
C
a ~
J N
V W C
N C C
C
p d ~,O d O a J a . ~ a aJ a d
f~ J . N(O d d d J CJ a a J y J J' y' J N J .
WIW ~ a> a J~ ~ d V 3 3 C O N C 3 N L J J~ p a N O C N J C= d~ C c N
Q n ~ C J ~ 6 tG N N~ ~ C d h'O Y d d O O N d
E~ N C N Z Z L.. 41 . C'O d U. d Q U~~. 10 U V.~ ~ U 6 N dU .ua C. .
°'nm`°U.mcoa°i m cc°=.n_m~mcy-cR'~at-~oOvop mS c-E.d:.m
'U~~j.NC7 £=w c7> '9 0 02 m U¢ 'U a°i0 mO~w=~~ a 3~ ctiU' ~ 0 V .
d N> N d m m d ~ ~~i d d~ y E N'N N
N N U d N Vld d N N N d - N d QO N -A N dN U~ C ~ tD ~ O~ N d W~.y N d O d d L = ~ N C~ n
cWiOCU c-ccc a
> ZZCC~c~nc'c cm`c`cc-ccc'~-~c'~ccdqOp~
U U(J Q Q IL C.J (.J Q U UU f'~ U~ U o~ ti -i~-ci~ ci ci ci ~ 3 a U~i U U Q~i 5 J
. . . O N . . . . . `u
C W
M d IL N
C ~
y Y A Wo N
~ ~ d d Cf ~ m y C .i. N 9 O 9 O > > > > > > > > 7 > > > > > > > > j > > > 7 _ . . _
~'~jjjjp!^OU ~ H mOOO~OCOGOOOGOO~~OOppOOOOO
m O L d a a d ry C~ ~ D. t~i a LL LL 1L C 9L 9 C9 9'O O 9'O a O O 9 9'O 'O 'O 'O "O V
y U 4 U V U72
v~ V 7.. E N y pJ ~OI p~ Y Y Y Y Y Y Y Y Y YY Y Y Y Y Y Y Y Y Y Y Y -
d~~ B~~ O J 9`O O O~0 W W W u V NtJ O H Q O V-O U p tp p p Y U U U U tJ U
m m m m O m m m m U U U U G W W W W W W W W W W W Y1 W W W W JI W W W W LL1 W W W
ol
z
N N~ tn f7 t
~ t7 t7 m. O~ T~~ O
O
O
O
O
O
O
O
~ O
< S 1~
?
~ N ~ ~ O-- ~ O O O ~ ~ O
N
O
g
N
S
~c(l
p
'd
N N
'
~n ~ ma~~n m ~ rn tp
.n ~n mmf
e
po
O
~
e
p
w
N
v
m
~pn~
<e oom $
~p
O
p
~R ~ o
c0 O N
NI
N N O~i m~~
^
~
<
f~
~
f
D
O
~
m ~
K1
J O
n r n n ~ n n ~ r n n n n n n ~n
~n
~n
h
~
~
N
N ~
°-'Ix x a a x S~ F g F~ j g ~ J~ 5 a
'
~
3
3
3
?
~
3
a z~~ 3
fAI ~ ~ J J 1
~
O O)
O_ p~
C
C
D
N
=
~ 9 O
_
~
O
`
~
s
C
~
~
O
O CO_ O= N V 2 6 6~
¢
C
~
A
~
N
N
N
C
N
t0
GJ
~
~
=
CC
y
N
N
N C Q
C
O~~ Q N t ~
j
y
t
C
'
lO
Y
. V Q
L
Q
O~ C C C d t2 C O y` d d m C O
.
~
N
O
N
y
N
d
t0
C~
L N W
ry
ln .O ~_S !/J J~ a m U Y a(n (A (A VJ m O
W
e
¢
Y
m
1`
O
~i
U Q Z N `1
~
N
.
^v
>
V
N `m 2
4I
Y
`
2
0
co
c p
,~o m
i.' c
~
m
~
CL
-i5 19 Y
~
c
Q
t
v
-
in
? y
~ o
m s
=
~ m
m
m
n a
w i
a
>
m
y
,
vi
a~ ,
u
~
~=¢'~w
~
s
~
`
m
2~
~
2.¢
-Z
¢
~
m
~
o
o
Q d?p
I 3
1 CN
.
~
~ m Q ~ Q y 9 'O ~ ~ d >
9
N
G
~
.p
O
~
C = Q
~
.
N
W
'p
J
(
C~ (n O C.m O IL m N C 0 O
O
~
Q
~
j
Q
¢
C
N
p
~ d~ p C
8
S
a
a J
2
p~
'
C
d N
Y~~ N
d
Y
fA N d¢
~
L
D
?i
(A
L T
.
L
p
5. O N
C
y
n
d
~
S
N
~ t0 d 3
N
.O t0
t0 ~ W ~ tO N O
O d tn U N
z~
U
~
c7
c7
tV
rn 3~i Z w
i
8
'
N N O
N<
~ N
.
8
p
C
)
O
O t0 O
~ O
~ N Q
m a o v~n m v cn ~ n O t0 N
"
~
a
O
ln
I~
~
~
N
O
O
<
< t0 tD N V
K1 ~O N
'
(O V N N (O ~ Q<
) (0 N t0 m f0
~ ~ N
LL
1~ .
I
~O
~
d
~D I~ t7 f~ (O t0 f0 1~ < N O~ O~ C1 ['l
n n~n Q
S
Q
Q
Q
Q
`C
Q
Q
~
~
n N Q m p~ m c~ ~ m~
co ~ rn.
N~ N O N O N O Z.
N~
~ O
N N
Z
Z
Z
Z
=
Z
Z
v~ M 2
z m
f7
O
O
N
.
d d
J J
a
~
o d
c a o 3
C
d J
~
J a
o
' C Q ~
d
N
W
~
J J C
J y J J a a N
J J.
~
J
.
_ j C
C
J C
d Vl N N L 3 N C
a
N S(n W
Q1
c m~ m d t y a
0 5 0~~ _
c
c
Li.
c
~
c
li
.c
Li
c
2 2 o.
~ U
~
V ~ LL CJ Y J~" ~ U = CJ -i Y G T N Q1
~
U m U' (D U`
'
N N N C N N~ 2 N U N N
j N d d y d N(J d N `1 d d N N N d
~ C C C C
C <
~ y
N
d
C
N
C
(/1
N
C
- N
N
C
N
N
C
N
N
C
fq
d
C
~ N
= y d N N
~ G C C
d
j C 2 CN
p1 C C
[O
.
y
m
a
d
.
9 L
l
f7
U
o~
N
N
~
~i
' . . . o
•
Y
U
`
`c
. d
`
' m
`
d
v
d
V
20
u d
d V
rv 5
a
r S
m
m m
m
m
m
C T
C
C
L O
C
O
C-
L C
C
t
U O
V G
y
0 0
0 f..1
<..l C)
N
.
~
rnrnrnrnrnrna~rnrnarn rnrnaarnrn ~y
Z'
_o
O
m
o
W
o°
S
_
~
a' _
~
_
~
~ m ar
rnrn
$
0 0 0 o._e o 0 0 0 o > o ` ~ o 0 0 5 o
c` 0 8 6 o S n` 6 0` o` > c` 6 c o` c` o` a
o5 LLu
o5
~
S
.LL
o„
9 W
o
~
o9 0
W
5 09
o
05 0
v a
v aaooav a oavvovvaa Z'6~
~
Z'm
y
~'o
~~a
Z~
~LL
.a~ c c,a
1L Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y YU~ C
~
q
Cl 1'
fJ ~
U 9
V C
(J U
U C
d O~~ E
.
L
W W W W W W WW W W W W W W W W W LL O U
IY 1
IL m
IL Y
IY ~
IL m
IL IL
IY m
IL I
U' C7 S
Y~
o
m
g ~ ~
~ W
~
q
N
=
LL ~
g
_ ~
L
N
~g
g
.q LL
y3
2
g
5
_
e- F
LLs m g
~ ~
~
ry
$ @ g
y
52g¢gg q~
~
g gq~ ~
~
~
~
bg LL _
'
xLL
a<
m'(E~
c~i
r3 m
a
a
2LL
€m
9F
U
o
~
y
N
' ~ a
~ 3 E
3 y
IL LL
~ N
~ m
S IL S f/l 1-
4J $ d N 6
Q~ U1
S
O O
p
r
~
p
n
Q~
~
<
[O
n r ~ l'> N<^<
N N a
O
~ l~
f0 C'
N
O
^
O
N
1~ 1~ O~
N <[7 OJ -
O~
R1
1~
O
O m
t0 (D
C
O t
0_ O
OOi T fO
!<O O n
0
P
t
1n N O fD O
N OJ < Of
OJ
^
Q
<
O~
O
. l[]
(O t~J
~
t7 Q Q
Q
tD [O < tn ~ l7 V
ul
m
^ w T O] ^ ^
?
N N
~ m
(O
r
^
.
-
c
I
N
N
~
~
N O
~
N N
V N
~
N
tn ~[1 l[l ~[l N
t7
t'J ~
9 N~ N
N N
N
N
N
1n
t[l
t
J
I
t0
Z L L ~ Q
yl 3>
J
LL
J J
LL LL
3 3 3 3
3 3 3 3 3
3
Z
~
Z
~ ~
Z Z Z Z
~22a 3m¢2
U Z
zm
J
a
~
a~
m
3
c
Z
w
m
Z
U~ E E
~
L
U
3Q
C
U
y
N
~ Z tp~O yC Y
O
J
Y
~ J
Y
J
L
8
V~~
4
N
= ~
C
O~ ~ ~
E
~ O
L
C
C
O m~-
N t0 O N
N
n
~
~
C
6
O.
O
?
C
~
O
C
N y mA j~
N
N ~
A
j
N d V O
N
tO
N
~ N N N N O
j
`
d N
O
3zzmz
m`
x
~~oa¢
3
~
x in
oozzc~u.
~ a
¢ a
x
r
N
J
C.)
a1
0
~O
O ~
m
N
N
U
i
a
m m
E -
o
N
m
~
ui d m ~
3
>
i° v
3
C
d~
d
o. a
d
d N y~ N
^
~ ~
Q
t0 C
~p
d J
J
T
y~
O~ T Q i0 N
O
C
~n
tO
~
¢ 0
3
3
= 3 i c"i o a~i m c
3
¢
.r
.i a
i
in
a
6
W
L
~ l0 l0 LO
C
7 f
7 ~ ~
O
¢ V
L L C N
~
~ rn
O d Q N C
L
d
.O!
S
2 Ol
N
i
C
10 L O
O~ O J
Q Z(
0
d O)
.C
VJ
.
.
1~
Q.
3
~•C ' d l
(A
=
m
i
r pi
y S
O
L N
l0
t0 m
N N~ N
L OE. 3 N
C
Z
N j
Nn~= N L N
N
Q
~
O O O '
zzz
O
¢
y tO
i
n
p i
yN
c
~
C V~ m d.
0
nz3
O
LL
O
z
3 wO
N
~ d L O 3 O (n
Z
.
z
3
3 3
N iV
3 in
y .
m
`o
~
,
N
:=i
i
U
8~ ~ N
~
p
m
~
N
p
p
~
T
p
S
m
p
~ N
~
-
~
1~ ~[f
p
N f'l
O
O
N
t")
O
N ~
~ O
0
O
N N<O
(D
N N
'O ~O O N
W N~
4~
m N
v
v
t
~
C') p
Q Q Q N
~
N
N
f0 Of
mm
p O t7
V] N Q m
g ~p N tp ~
tA ~ t0 O
p
N
O
G~
Q ~
Cl 1~ Q ~ N N
< Of (C Q 1~ N
°3
t'J ~
m
t7
o
ZZZ
N!
m
~~n
1~ I~ t7 O~
1~ 1~ t7 t~J 1~
l7
f7
Z o~
f7
fq mn nn u
m
t7 t~ t7 C t7 l7 L7
i n
O~' t7
rn
C
y
U
-
°
a
~
y
_I
J
d
U
V
V
C
U C~
C
' .
CI
=
Y
c
a
C C
ti
V
C_ o V
~
_
_
C
C C
d
y
r
C O e
C
. C
= Q..
t
~
a,
8 =
d
_
~
~
~
~
d
Y U ii
N
d
C
`
~
J
C O
~
Y
Z Z
m tn
2
O
m
6 m 0
S
m 2
O d¢
~
S
(n
2O' Z dLL
d
U
d
0
A
d
NN
d d
N=
d
.N
N
N
m
N
N
NNN
N N N
N
d
NNN-NN
0 N d 9 d
N
d
N
d
d
d
N
N
NNNryN
N
N d N m `1
d
N
N
d
J
C
c
c c
c~
. c
c
c
c c c
c
c c c. c c
c
c
c
c
c
O
c c c 3 c t c
a
c
o
N
N N
N
N
m
N
N N N
N
N N d N N
d
d
d
d
N
N N N N N tO m
N
U:
O
(J
CJ U
O U
p
p
(.J
U p O
U
U(.J (.J (.J
U
CJ
O
V
U
U U U Z U U U
x
0
Q
~ ~ m
N
g
o
$
C O O
LL
y
y
LL
LL
f
0 p W
O y O
T 3. Y~
~
W
~
A
~
.
.
.
d rv`o
c
c
c
m ~ a a LL
L L Z
L
z t t L r
'C
r
L
r
Y
r r L L t t'C
t
r
L
> a ti ti ~
w
m
m
N N N
N
ER
N
E
W
£
~0
E
N
E
N
E
W m 6 N W m N
E E E E E E E
m
E
W
E
N
E
E E- E
£
.
S 2 ~-i -a
Y
Y
Y
Y Y Y
Y
Y Y Y Y Y
Y
Y
Y
Y
Y
Y Y Y Y Y Y Y
Y
Y
Y
a
s @
~
~
~
g
a
NI t~J t7 (7 N N t7 N~ N C'l N~~ N N N
~A!
~6~m&ooo~a,oI a~~
N -Wwwww
N N (O
dl N ~ p~ O N ~~rJ Ol tmp(O t[Dp t7 N O~ n N N t^'J S~^ LO m~~ N h~~ r ~ O~ Oi m~ Of
~ N O!~ N 1~ OJ l~ lA t7 t7 ~ t7 t7 t7 CJ t7 A m W~ N N In ~ Y Q N~~ N ~[J lA f7 N Q<~~[1 N~
~ > X Z X a J Z Z J~ J J G Z X Q Y Q Z Z Z Z Q U
y a z r~ r c~ LL 3~ r- LL~ LL LL c~ a~ 0 3 3 3 3~~> 3~~ E~ c~ z~~~ 3 3 3
L
C L vl y C G 'E O
0 C C d t0 - 'j.
~ V tn ~ h C~ N~ fn d t0 H ~ U ~ ~ C Y C C(E ~ C ~ C
E(Fp c m a m~ p CJ x y y c~o p~ m 3- -S°
OE= m v yp C N t C O t~ lO C C N 8 V y y~~ 0 C N~ d C C~ y C-~j O C j A
L t0 W N O o~ A m N t0 O O TO O t m t ~ C N N N d O N N N~ . C C~ d j dV A N
c~ao~c~v~o~~c~~m¢r u»ra.$W fE~$c~~~7c~~~ns~~n¢JU~¢0 m m
J a ~ Q
G~.~ v > ¢ mo,
¢ ~ 3 d
¢ m o
~
>36 =d~ mc>
a m~ $ 3~< a c7 ~n ~Q 3 ~ d m
C~ a 'c QD
r > ' S° d~ m r 3 o w d w ~ C^. . . . > Z tn 1O v ¢ L>. ~ ~ ~
H c°m N¢ a t l~ ~ m a ~ ~ p` ~ o m~ m m 'a~ m t¢ m Vi rn~ > c 3
L~ C7 a~' > N A~' 1° Vc C a Z~ n 'a 'n m¢' y m` p~ mN U w = 2c o~
yr J m ~ yQ ~ 3Q y v~ w 4c z ~?i C a d rt ~~L ~ T_t N E~
d~ t g c
O L d N N L'n [0 J t O j~p y y p t~
B y L % ~0 y ~(J ~ 7 t 'o O
d ~°nN•73 mE ~wcai=in
woZpp~Zp°3www oaoo~°nz°~7N=¢33w3v~ 0 19U O Z^ m N~~} N ~ N n N p N N~~pp ~ N R1 N~p N m~ Z mpp~ V~<O m~~~ ~ N~ N~~ mp t0
m t7 !2 C m N~ ~ O t7 N N m~ N t") N~ N t0 a7 ~ ~ N N N~ 1~ ~D N O O N
Q YJ N P.
~^.O~J c~~i ~ O~i N v~ v~i N(D ~ N Q ~~'~J ~ v O Z tmO N(O Z w fm0 Q p p Z 2 Z Q~ v Om Q m v v~i
N ~ ~ CJ n t7 (rD ~
a
~ J
C
a p a a a`>
J J
J L O d a C d ~
J= d d J J a C J J ~ d V C
~j ~ T o p
V{ ~ 'O a d a J ~ tO (.J O d d H u~i N ry j ~ N C J Y a _ C_ O V V
N 8
LlOCQtNJ 'aCR~J~%¢.~C~10(O4YdC~l0l0C`tNC.yU~CC
c~ > E ~ 'j
12 g
U J y J N~ QC Ll O LL m T~ W J~ j JO~ d ~ N d~' ~ C N
C J.C O O C O> U O . 6~ N
E p~.~ E~ y O e' J~ 6 O ~ N N d 41 2222 O£ T V
C N O O N C ~ O ~
~ ~>c7 d~no`w~3f-v~~nc;in y3333c;c7c7c7 t~~ry ¢ mc7cD ~c7cn m~in¢OM m
~O O y<] y NN N N N N C. N N N N N N N N C Vl N N M ~ d~ N` i
yd J d(.J Nd d N d d N N m d L N m-`1 N N d d N N d d N N d d N y
`n ~ ~ c pcc c c c c c c c c~ c c c c c c c c c c c Y c c c c 7= 8 c c c c c c
UAOC~J CUUC~UUUUUUUUU Vci UU V UU UCiU.mUUU cJU¢UUUUUU
h(%1 N N H N
C
N C C C C C L
C
~ b N N b N E~ Is Y Y Y Y Y Y
i.r r y y U U U G U U
p0 0 0~ a a~ a a `o o 'o x x x x x p o 06 06 - o6 m m m>? a n a a a°.
C G 6S 4 d L C CN M p b t0 b
ai ao m u m u m m o a~ d~ ° m $ a~'i m m m m m- a: q
£ q E E E E U
tJ U C G i. > a i
O G O O G G O G O. O O L~] O ~ O~`s 1` `s > _
t m m m m m m ar ar m m a~ a~ m m o mm m o m= EM
m o u o u u u c~ u u u c~ ci u u c. o o u ci u ~ m m rn rn>
¢
Y~~~~~j~~~~S~S~S~~~Sooo iaaa aa a.¢¢¢¢¢¢¢ ¢ ¢0
a
a
m~
N o U m o
C np N
I~L L N m ~ f Q
cli mo~~~~~~g~ !2 ~2 t2 '2 28
NI N N N N N t[l ~ N~<~~ N h 1(1 ~ V~ CJ VN ~ m m t~NJ tQ0
~ Z L~ Q U---- J J- J J Q
. NI3333 3 33?~ v> >u~~33333~?~u.~? LLLL>?
d
1G N
U x Z• c m `v 3 ~ ~ c
_ ~ c A r o ~ c ~ c y d t q o
a°m m m s H f°n c~ m x~ ~ c c o~i g~ m 5 U ~ Z m E_ t a~i
m(p.c 3 nq.` m~ H m y m'° ° m n A w.C . m>~~ m cLi a
m Q~ 6 LL Lf S LL~ Z CJ m J~ Q~ m 6 ll C7~1 m¢ d Y 2 Q Q
~,^I
YI
J
r
Vw,
W
.O
i
a
U
C
N
~
~
d
v
_
d
-
J U
C y
Q
g A
_
~ d
Li
3
W
n
C- N
J
'o
6
g
c
a o m a
N ~ >
a y m d
> L C
~ C d O
U
~
O j N Q
~
m QU C7
S ii U
. U'
N N C N
N.
N N N=
. . . m d y m
m
m m 3~
'
. , c c ~ c
c
c
c
U U ti.U
U
(J U m ~i
d d d d
d
N
C
£
~
N N N N
N
O
c c cc
c
y
I
t
~ ap
LL
' G n
d 6
a
~
C
-w_waa
w
QmUL
7. T T T
c c c c
>
c
~ q
Y C~
> > > >
>
o 3 W
S Q 2 S
R
N H F'T..
b
m
9
~ a m
o ~
d=
N
m O N
N
L L
~
~ 3 d N
t
o+o+CJ
~
nj y y
3
L
N
L
d d O=
O
.1 y~ 0
tn Z
tn
W U^ Z
N N
~
O
~
N N
f
D
N fD
W
!
O
O O Gl
p Z Z 2 2
Z o
m
a
¢
N
W
O
N
d
m
3 N N 'Z d O
~ a ~ n~ a PS a m
a =
T T ~ d % d
` l0 m C O L L ja O~ C y G
in y~::i in LL~ 2 2~ ¢ r E t >
~ N N d O m L d N d N~ g O h d N d
~ w o3 =3 o==3winm"~ 3 `-°3
m e gi e n 8 S ~ e$ N$ o °n m o g iv N
N ~ N O W ~ OJ (O Q N ~ ~ ~ ~ N O R ~ ~
Z ~ N ~ O *3
~
~ ~n r n r v v v v e v. c v~ c~
0
c
a
.o
J
~ ~ a d
J C C V tJ ~'O ~ J J J E' ~
J c~~ o~ m g' 'v' s C? 3 y t~n ~ C
Z`" ~ d j tO d N ~p. C tU tO ~ O. g C U a
m - U J-S ¢ E m Q 6. CJ ~ ~ Q d~ U= J
3. A O N N N N N d 9. N N N N N O L S ~
Z C7 m c c c c c c s~~ c~ a Q U
O UmoUUU U UO M.MU~
.d.. ~ ~
uy uy uy
C 1
S.
y y y b fA tl N IA tl 19 b N O! N Vl 40
N N
i. Z= Cy yC C C C C C Cry C L C L C L C C
~ d W m d d d d d d d~ d d d N N
rnaaaama mrnrnrn rn`a~ rn aa
N ~0 10 Q N N N~N N W W i0 N N W l0 W fi N
3 3 3 3 3 3.3 3.3 3 3 33 3 3 3 3 3 3
~
LL
~
C
N
S
N
01
O~
i
~
~
2
Eckerd.com - Facts at a glance
Page 1 of 2
login or Register I Order Status I My Account I I
• NOAAE :P1UIYMACY HEALTNINFO PHOTO 'SHOPOWItNff.; • a
~ About Us
Search:
Facts at a iance
9
Siore Produc[s ~
F
affllj
No ttems
~
Be9innings Headquarters
September 1898 in Erie
Penns
ivania Clearwater
Florida
Snopping cart
,
y
,
~
~ Shopping List
World Wide Web Address Chairtnan and CEO
No items
0
www.eckerd.com Wayne Harris
add Prescriptions
Chief Operating Officer Chief Pinancial Officer
David Aston Dennis Miller
R whcf .
•
2000 Revenue Locations
Over $13.1 billion 2,640 stores in 20 states
~ yzalth
U
.
Z Drug 0
Associates
00 ask rh~
Facts at a Glance
75,000 associates, including 8,000 pharmacists
Our Background
P ec6y<
Executive Profiles
Phartnacies
5 Sc~ing
History - Timeline
APProximately 200 million prescrip6ons filled in our stores as well as
The Eckerd Way
through our three mail senrice businesses in 2000
Photo Archive
Philanthropic His[ory
Photo Processing Labs
; - ~
1,600 Eckerd Express One-Hour Photo Iabs in 19 states.
!
RecenTBenchmarks
1997 - Aquired by JCPenney Co., Ina combining Eckerd, Thrift and
Fay's drug store chains
1999 -Acquired 140 Genovese drug stores in Metropolitan New York.
2000 - Launched Mire, first private line of cosmetics.
2001 - Launched Eckerd On Calf, a telephone information hot line for
customers wrth questions on heafth conditiona
2001 - Introduces First of Rs kind photo qualiry assurence program that
states that no matter who developed the customers' photos; 'rf the
customer isn't sadsfied with the resutts they can bring in the prints and
negatives Uiey want corrected and Eckerd Photo Experts will reprint
ihem for free.
T
~ • Home I Find a Store I Partner Sites I Contact Us I Site
Map
http://www.eckerd.com/content.asp?content=company/abouUfactsataglance 10/2/2002
Eckerd.com - Our Background
~~~0101"
Ge[ :tiore!_
Page I of 3
Login or Register I Order SWtus I My Account I I
tWME ~PHALMACX HEALTHiNFO- ' PHOTO' S10POi~!!ff-,-
SFare Locafiofn Employmen! Nexs .
Search:
Store Products
F_ 0
No Items
~ Shopping Cart
4j Shopping List .
No Items
40 Add Prescriptions
Facts at a Glance
Our Background
Executive Profiles
History - Timeline
The Eckerd Way
Photo Archive
Philanthropic History
Our Background
_ ec~... , ~•,'~,,..;r-.
Since the opening of the first Eckerd
drug store over 100 years ago in Erie,
Pa., the Company has grown in the
drug store industry. Eckerd has thrived
throughout the last century because its
associates and pharmacists focus on
serving the customer and knowing the
importance of being a good neighbor in
ttie communiry.
Eckerd's success is evident 2,640 ~
Eckerd drug stores in 20 states, -
including 140 Genovese drug stores in -
MeVopolitan New York, 1,600 Eckerd
Express Photo one-hour photo labs in 19 sWtes, and revenue of $13.1
billion in fiscal year 2000. Eckerd is the dominantdrug chain in Florida,
Texas and Pennsylvania.
The beginning of Eckerd
Eckerd's success, boffi present and past, has set higR standards in the
drug store industry. The beginning of Eckerd dates back to September
1898, when 27 year old J. MiRon Eckerd opened his first cut-rate drug store
in Erie, Pennsylvania: He laid the founda5on for the successful drug store
chain by buying supplies in bulk and pass(ng the diswunt onto the
customer. The drug store continued to thrive as Eckerd adapted to
changes in the marketplace, whefher it was staying open seven days a
week to provide needed prescription drugs to customers or eupanding irrto
new states to growthe business. Eckerd laid the groundwork for success in the 1920s and 1930s, because
of its expansion in North Carolina. Eckerd store locations throughout the
state, coupied evith the rise of North Carolfna industries, such as textiies,
tobacco and fumRure, helped EckercJ to dominate the drug store market in
North Caroiina and compete with AUanta, the South's business hub. Ed
O'Herzon, Sr., a son-in-law of J. Mikon Eckerd's, ran Eckerd North
Carolina. Mother son-in-law, Mitcheil Hill, operated Eckerd Wilmington,
Delaware.
J. Milton's youngest son, Jack Eckerd, joined the business in the late
1930s. He implemented the concept of self-service into the Florida Eckerd
drug stores in Florida in 1952. New Eckerd stores profited from the sale of
photographic equipment due to Florida's postwar taurism boom.
Expansion in the South
http://www.eckerd.com/content.asp?contenr-company/abouUourbackground
~
R VdhcY~
G Hrolrh
g Crig A
ob Ask rhi
pk6Y c
5 Scving
Er;,!c___.
10/2/2002
Eckerd.com - Our Background
Prescription drug sales also increased, as a number of senior cdizens
started to spend their retirement years in Florida. To attred senior cit¢ens,
the store offered discounts, another new retail concept that helped Eckerd
to excel. Eckerd's emphasis on customer service, combined with a
successful newspaper advertising campaign, enabled the small seif-service
chain to grow to five stores by 1965.
To raise money for further expansion,
Jack Eckerd tumed the operation from a
proprietorship into a publicty owned
company in 1961. This change in
business organization had little effed on
the way the company was run because
Jack Eckerd continued to provide
leadership in his capacity as CEO.
While Eckerd was expanding the
number of its stores, it also invested in
its own photo finishing services, which
enabled the company to revolutionize
the photo finishing industry in 1965 with
an innovative hvo-for-one offer on photo print processing. The offer was
later copied by almost everyone in the photo finishing business. In 1973,
Eckerd entered the prescription eyeglass marfcet and opened 12 Eckerd
Opfical Centers. Wrthin two years, Eckerd estabiished more than 50
centers supplied by two optlcal Iaboretories. - Eckerd becomes the second-largest
drugsMre chain in the U.S.
In 1974 Jack Eckerd retired and Stewart Turley was named CEO of Jack
` Eckerd CorporaGon. At the beginning of his tenure, Turley engineered a
successful merger between Eckerd Florida and Eckerd North Carolina, the
Charlotte-based drugstore chain founded by Ed O'Herron, Sr., J. Milion
Eckerd's son-in-law. The merger was the biggest in drug store history and
brought the number of stores to 766 making Eckerd the second-largest
drugstore chain in the U.S.
In 1981. Eckerd bought 19 drug stores fram JCPenney's Thrift Drugs
division. Soon, however, economic conditions and business results both
began to deteriorate, and the cut-throat business atmosphere of the 1980s
brought new challenges. Eckerd's strong market position attraded the
attention of the Dart Group Corporation, which launched a hostile takeover
attempt in 1985. Eckerd fended off the hostile takeover, launched a$1.58
billion leveraged buyout and bought all of its shares from stockhoiders,
tuming itseH from a publicly traded wmpany into a private corporation.
lmmediately following the leveraged buyout in 1986; Eckerd bought 32
Shoppere Drug Mart stores in Florida. Md in 1990, the drug store chain
boughi 220 drug stores from Revco. Increasing the number of stores
enabled Eckerd to buy phartnaceuticais and other products in larger
quanti6es at low per-unit prices, thus generating a higher sales volume and
increased eamings. This sVategy, combined with debt restruduring, paid
off and by 1993, Eckerd gained the financial sVength to retum to the New
Yoric Stock Exchange as a publicly traded company.
Growth and Aquisitions
Page 2 of3
Frank Newman became president in 1993 and three years later succeeded
Turley as CEO. Under Newman's leadership; and in response to the
growing managed care industry, Eckerd developed a highly efficient mail-
http://www.eckerd.com/content.asp?content--company/about/ourbackground 10/2/2002
Eckerd.com - Our Background
service pharmacy and a pharmacy benefr[ management capabiiity that
enabled Eckerd to design and administer prescription plans for associates
directly-eiiminating the third party almost entirely.
In the 1990s Eckerd began building freestanding stores located on major
intersedions, resulting in high visibility, convenience and high traffic
volume: 7he new stores featured drive-through phartnacy windows, one-
hour photo processing and ailowed Eckerd to expand Rs selection of
convenience foods. The freestanding stores signfiwntty increased sales
volume and soon became Eckerd's prototypical store.
Eckerd continued to grow through new stores and acquisitions. Eckerd
wanted to acquire the Thrift Drug chain owned by JCPenney, but Penney
had no interest in selling. By 1995, JCPenney acquired Kerr Drug in North
Carolina, the Fay's Drug chain in New York, as well as other drug stores in
the Carolinas, giving JCPenney almost 1,000 drugstores in total.
Tbe merger between JCPenney and Eckerd
After JCPenney's dnigstore expansion, JCPenney and Eckerd recognized
the potential power in combining the hvo chains, which resufted in an
agreement to merge in 1996. Under the agreement, all became a wholly
owned subsidiary of the JCPenney Company and run by Eckerd.
Today, Eckerd is headed by Chairtnan and CEO, Wayne Hartis who's
focused on having the right produd at the right price in Eckerd stores. The
company plans to refocus its resources from reiocating stores to
remodeling stores to include new signage as welt as a new traffic pattem.
Headquartered in Clearwater, Florida, Eckerd's existing markets by state
are Connecticut, Oelaware, Florida, Georgia, Kansas, Louisiana, Maryland,
Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio,
Oklahoma, Pennsyfvania, South Carolina, Tennessee, Texas, Vrginia and
West Urginia.
Page 3 of 3
I'll
Home I Pind a Store I Partner Sites I Contact Us I Site
Map
Shop Safely Online IShipping and Retums
Please see our Terms of Use. Security Policy. and our Promises of Quality
for complete information
Copyright OO 2002 Eckerd Corporatioa-Ail Rights Reserved
http://www.eckerd.com/content.asp?content--company/about/ourbackground 10/2/2002
Eckerd.com - History-Timeline
~
Ge[ ILfoe-ef""
L-F
Search:
Store Products
F_ 0
No Items
~ Shopping Cart
~ Shopping List
0 No Items
Add Prescriptions
Facts at a Glance
Our Background
Executive Profiles
History - Timeline
The Eckerd Way
PhotoArchive Philanthropic History
Page 1 of 6
Login or Register I Order StaWS I My Aceount I I
F/OME '-PFiAiAAACT HEAtiH1NF4r Pf , .SNOP QN~I
~ Aboul Us
Timeline
Eckerd has ahvays sought to grow to
new levels in sales, profitabilty, and
customer satisfaction.
It is these wre principles and a rich
heritage that will carry Eckerd into 8s
sewnd century as leaders not among
drugstore retailers, but aiso among
American corporations
Below are key highlights of Eckerd organization dating back to when the
first store was opened by J. Mikon Eckerd, up until ioday.
What we did then...
The Eckerd drug chain is launched in September
1898 when 27-year-old J. Mitton Eckerd opens his
1898 first cui-rate drug store in Erie, PennsyNania with
$600. He lays the foundafion for the retailer's
success by buying in bulk and passing the savings
on the cusromers.
1912 J. Milton Eckerd moves to Wilmington, Delaware, to
establish a new cut-rate drug store chain.
1921 Eckerd's North Carolina operations launched by J.
Mifton Eckerd and Ed O'Herron. Sr. The company
successfully expands in the state in the 1920s and
1930a
Store locations throughout North Carolina, coupled
with the rise of such industries as teutiles, tobacco
and fumRure, help Eckerd dominate the market in
the state and compete with retailers in Atlanta, the
South's business hub. 0'Heaon, son-in-law of
Eckerd, runs Edcerd North Carolina, Another son-
iMaw, Mitchell Hill, operates Eckerd Wiimington
(Del J.
1930's J. Mitton Eckerd's younges[ son, Jack Eckerd, joins
the business in the late 1930s. He eventualiy helps
popular¢e self-service stores with spacious, well
designed interiors where consumers can locate
merchandise quickty and easiiy.
FlND
It Whcr,
0+ Heal°h
y Dn,g ?
ID ask th,
Beby (
5 Scving
' :u>:c:
:-:cJ !
http://www.eckerd.com/content.asp?content--company/aboudtimeline 10/2/2002
Eckerd.com - History-Timeline
1945 Jack Eckerd becomes full owner of two drug stores
in Wilmington, Delaware.
1947 Jack Eckerd and Ed O'Herron, Jr., travel to
Cal'rfomia to investigate self-service practices.
1949 Eckerd's QuikChek opens in Erie, Pennsyivania,
the first self-service drug store on the East Coast.
1952 Jack Eckerd buys three drug stores in Flonda.
The drug chain's Florida stores thrive after Worid
War il wiih sale of phatographic equipment to the
state's burgeoning tourist population.
Phartnacy volume also swells as senior citizens
start to spend their retirement in the Sunshine
State. To attract seniors, stores offer discounts,
another new retail concept that hefps Eckerd
continue to grow.
1959 Eckerd Fiorida signs cooperation agreement with
Publix supermarket chain, and a proffi sharing
program is introduced.
1961 To raise money for further expansion Jack Eckerd
wnverts Eckerd Florida and its 15 stores, from a
proprietorship into a publicly owned company.
While expanding its store courd, Eckerd also invest
in its own photofinishing services.
1963 Eckerd Florida estabtishes an Orlando, Florida,
Division inaugurating statewide expansion.
1965 Eckerd Florida revolutionizes the photofinishing
category with a hvo-for-one offer on print
processing.
Stewart Tudey joins Uie company as manager of
non-drug store operations.
1966 Eckerd Florida is listed on the New York Stock
Exchange. The company buys the JacksonByron
department store chain, begining a penod of
diversfication.
Later in the year it acquires Grey Security.
1970 The company buys Brown's Thrift City Drugs chain
in Louisiana; Mading-Dugan Drugs chain in Texas,
and Galaxy Drugs in Georgia. Eckerd Florida is
renamed Jack Eckerd Corporation.
1973 Jack Eckerd Corporafion acquires Ward Cut-Rate
Drug chains in Texas and Eckerd Orugs Eastem,
Incorporated, in Delaware. The company enters the
prescrip6on eyeglass market with 12 Eckerd Optical
Center units. Within two years it has over 50
centers supplied by two optical laboratories.
1974 Jack Eckerd retires, and Stewart Turley is named
chief executive officer of Jack Eckerd Corp.
7977 Stew Turley engineers a successful merger
beiween the Florida operation and Chariotte based
Eckerd North Carolina. The combination is the
biggest in drug store history. and brings the
companys store count to 766; making ft the No.2
Page 2 of 6
http://www.eckerd.com/content.asp?content--company/aboudtimeline 10/2/2002
Eckerd.com - History-Timeline
drug chain in the United States. Jack Eckerd Corp.
adds a pension plan to its profit sharing program.
1979 Eckerd exceeds the 1,000 - store mark with the
opening of 22 ouUets, bringing its total to 1,001.
The company marks the milestone with a
promotional effort that invoives contests for
consumers and empioyees.
1981 Eckerd increases its presence in Texas, boosting
its store count there to 300 with the acquisition of
41 Sommers drug stores from wholesaler Malone &
Hyde. in another deal the retailer buys 19 drug
stores from J.C. Penney Co.'s Thrift Drugs division.
1984 The chain purchases 11 drug stores from Jewel
Cos., increasing itspresence in Texas, Oklahoma
and Louisianna.
Eckerd expands its commiVnent to one-hour
photoprocessing by announcing R will open several
more in-store mini-labs after successfully testlng
the concept in Clearwater, Fla. By years end
Eckerd operetes five such outlets, making it the
industry leader.
The chain also unveiis four stores (two each in
Tampa and Cleanvater) featuring raceVack Vaffic
pattems, higFi-profile gondolas and a service island
that is lowted in the center.
Eckerd opens its first optical supermarket, a 9,600-
square foot Vsionworks outlet, in Clearwater, Fla.
offering consumers a complete range of optical
services in one location.
1985 Dart Drugfounderandformerchairtnan Herbert
Haft says he has purchased more than 5°h of
Eckerd's stock and that he intends to acquire 100°k
of the company's shares. Eckerd executives call the
rtrove "unsolicited and unwanted°, and they vowed
to fight it.
Eckerd decides to shed iLs troubled American
Home Vdeo and JByrons subsidiaries and
concentrate on its core drug store business.
. Meanwhile, the company snuffs out the take-over
threat posed by Herbert Haft by agreeing to
repurchase his 1.9 million Eckerd shares without
paying a premium.
Eckerd reaches an agreement to go private in a
leveraged buyout involving a group of investors,
including the company s management. The
transacGon including existing debt, is valued at
about $1.6 billion.
1986 The retailer receives assurances for $1.6 billion in
financing for its proposed Ieve2ged buy-out. Terms
provide shareholders with $28 per share in cash
and per share in a subordinated debenture.
Eckerd embarks on a remodeling program based
on a new'Spartan' prototype. The centerpiece of
the program is an 8,600 sqare-foot drug siore that
Page 3 of 6
http://www.eckerd.com/content.asp?content=company/about/timeline 10/2/2002
Eckerd.com - History-Timeline
features neon signage and a pastel decore.
Eckerd acquires 32 Shoppers Drug Mart stores in
Florida.
1987
The chain bolsters its presence in sVOng markets
and exits those in which it isn't a major factor. It has
decided to sell 15 stores in Tulsa. Okia. to May's
Drug Stores, representing Eckerd's departure from
that city.
Eckerd and Revco D.S. Vanuct the sale of stores
in drfFerent markets. Eckerd picks up seven Revcos
in Alabama, while Revco gets five Ecicerds in
Texas.
1988
Eckerd announces that it will close its disVibution
center in Hammond, La., and begin servicing ds
165 stores in that state through warehouse facilfties
in Georgia and Texas. _
1989
Eckerd Drug reaches an agr?ement to acquire
Peoples Drg Stores' three Eye City optical
superstores in Maryland and Yrginia.
Eckerd buys a small family-owned drug chain in a
-market in which the Sunbett-based company is the
dominant force. This time Eckerd adds seven
Hiley's drug stores to its Texas roster.
1990
Eckerd purchases 220 Revco stores in Florida,
Louisiana, Mississippi, Texas and Oklahoma. The
company expeds to convert many of the units to
Eckerd stores, the res4 will be closed.
1992
Eckerd unveils a restructuring plan. The chain buys
16 Page Super Drug stores in the Dallas area from
Tom Thumb Food and Drugs Inc.
1993
Eckerd reaches an agreement wRh Chemical Bank
Corp and NationsBank thai will cut the company's
interest cost by $30 million per year.
Frank Newman joins Eckerd as president and chief
opera6ng officer.
Eckerd Corporation goes public wfth a listing on the
New York Stock Exchange.
Eckerd purchases Crown Drug, a 19-store drug
chain based in Advance, N.C.
1994
The company enters into an amended agreement
with its two larges creitors and 36 other financial
instutions that reduces the drug chaids $850 million
in tlebt. The lower interest retes inGuded in the deal
are e:cpected to save the retailer about $7 million a
year.
1995
Eckerd purchases 109 drug stores in Florida from
Rite Aid Corp. The transaction helps Eckerd
sgnificantly enhance its position in the state, where
it already operate 550 outlets.
1996
The company agrees to buy Hyde Drug. Frank
Newman succeeds Stew•art Turley as Chief
Executive Officer.
Page 4 of 6
http://www.eckerd.com/content.asp?contenr-company/aboudtimeline 10/2/2002
Eckerd.com - History-Timeline
Eckerd, now operating 1,735 drug stores, agrees to
merge with JC Penney.
1997 Eckerd begins the conversion of Thrift Drug outlets
(which were previously owned by corporate parent
J.C. Penney Co.) selecting the Kansas City area as
the first place to change the name of about 30
Treasury stores (formerly operated by Thrift) to the
Eckerd banner.
1998 Eckerd exits Alabama after serving that state's
customers for nearly three decades, with the sale of
16 outlets tnere to Rite Aid Corp., which also picked
up eight other Eckerd outlets in four other states.
In a separate Vansadion Eckerd buys 17 former
Harco Drug and K&B Inc. stores in Flonda from Rite
Aid as well as five of that Chain's outlets in Georgia.
Eckerd moves to establish itself as a force in
. greater New York with the purchase of Genovese
Drug Stores, which operates 141 outlets in New
York, New Jersey and Connecticut.
The company launces the Eckerd Patient Care
Cen[er, an innovative phartnacy where the primary
role of the phartnacist is to provide expanded
counseling, education and other cognitive services.
The nondispensing facility enables pharmacists to
tocus exclusivety on assessing patients'
understanding of and compliance with their drug
therapy regimens and to develop care plans that
meet Veatment goais established by physicians.
1999 Eckerd upgredes its web site, eckerd.com, so that
patleMS can receive refili prescriptions as well as
obtain new ones.
2000 Frenk Newman resigns as chairtnan, president and
chief executive otficer of Eckerd to assume the
helm at more.com.
Eckerd decides to close nearly 300
underperforming stores to help it reverse recent
financial drfficulties.
Allen Questrom; chairtnan and chief exewtive
officer of Bameys New York Inc. is named top
executive at J_C. Penney Co., the corporete parent
of Eckerd.
Wayne Harris, who has nearly 40 years experience
in the retail arena, is named chairman and chief .
executive officer of Eckerd. He has spent most of
his career in food retailing.
Page 5 of•6
Hartis telis Wali SVeet anatysts a terrific tumaround
opportunity exrisis for the drug chain. The location of
Rsstores, its position in someof the wunUy's fastest-growing markets and its solid reputation as
an excellent health care provider are among
Eckerd's strong points.
http://www.eckerd.com/conTent.asp?content--company/about/timeline 10/2/2002
Eckerd.com - History-Timeline Page 6 of 6
What we are doing now.
Eckerd appoints David Aston executive vice
president and chief opereting officer.
2001 The company launches Eckerd On Call, a telephone
infortnation hot line for customers with questions on
heafth conditions_
_
Home I Find a Store I Partner Sites I Contact Us I Site
Map
Shop Safely Online Shipping and Returns
Please see our Terms of Use. Security Policy. and our Promises of Quality for complete information .
Copyright 02002 Eckerd Corpcration All Rights Reserved
Eckerd.com - The Eckerd Way Prologue
~~~Ok,
9 Get M1fore.~^~
Page i of2
login or Register I Order Stafus I My AccouM I I
fiOME 'PHkBAAAtT HEALTN INFA. PHOSO SHOP Ot~6iE
-
StnreLocalioru Employmenf IVews
Search:
Srore Produc[s
r- a
p ns
Facts at a Glance
Our Background
Executive Profiles
History - Timeline
The Eckerd Way
Photo Archive
Philanthropic History
No ttems
~ Shopping Cart
~ Shopping List
~ No Items
Add Prescri tio
The Eckerd dYay
Click on the icons below to move from one page to another.
^/..p, 5 ? we+C'~, . .r+
X N ~ f ~ ~ •
- -1
Prologue
The executives, store managers, sales
associates, phartnacists, and many
others who have made Eckerd
Corporation a success are part of a
proud tradition ofAmerican mercantile
enterprise. Like their forebears, the
merchants of Eckerd are proof that
success is based upon innovation,
adaptability, initiative, and teamwork.
But most of all, Eckerd has thrived
because its merchants and phartnacists
have always put the customer first.
They listen carefully to their customers,
leam what they need, and provide them
with the most up-to-date, cost-eflective, high-quality merchandise and
services.
A mercFiant, according to the Oxford English Dictionary, is someone
"whose occupation is the purchase and safe of marketable commodities for
profrt " Merchants are important figures in the history of modem commerce.
The term evokes names of famous merchant adventurers like John Jawb
Astor, who became ihe weatthiest man in early America buying furs on the
fronUer and selling them in London at fabulous proffis.
Yet alongside the image of the "merchant adventurer" lies another: the
venerabie, Wstworthy proprietor of the nearby country (or comer) store
who sold tools, seeds, and consumer items thai improved the quality of 1'rfe
in smali-town Amerip. Throughout its history, Eckerd has embraced both
these images: the merchants of Eckerd have been both adventurous
pioneers and careful, customer-oriented heaRh care providers. .
The history of Eckerd Corporation goes back to 1898, when J. Mifton
Eckerd opened his first drugstore in Erie, Pennsyivania, and began
developing the business principles that stili contribute to the company's
success.
k whct',
U Heai!F.
S Croa ?
00 Ask
e~ ~iGCy :
~ :cvl~y
http://www.eckerd.com/content.asp?content--companyJabout/eckerdway 10/2/2002
Eckerd.com - The Eckerd Way Prologue
Eckerd's first century set some high standards. Blessed with a keen sense
for business opportunities and community needs in new growth areas,
Eckerd people in Delaware, North Carolina, and Florida developed
discount drugstore chains that eventually joined Eckerd Corporation. In
Florida, Jack Eckerd and his team of sales associates and phartnacists
pioneered drugstore seH-service, setting the stage for the company's
spectacular growth during subsequent decades. In 1997, Eckerd merged
with JC Penney, another historic institution ot American retailing, to meet
the challenges of a new century.
NEX'cAGE O
Home I Find a Store I Partner Sites I Contact Us I Site
Map
J Shop Safely Online Shipping and Returns Please see our Terms of Use Security Policy, and our promises of Quality
for complete informa6on.
Copyright O 2002 Eckerd Corporahon Ail Rights Reserved
http://www.eckerd.com/content.asp?content--company/about/eckerdway
Page 2 of 2
(TD - -
10/2/2002
Eckerd.com - Philanthropic History
Page 1 of 2
~
Login or Register I Order Stafus I My Account I
Noa
k10ME. c PHARINACY HEJILTH INiQ ,_;Pl6Qi0: , SHOP UP81NE;:;_ • ~ o
~ A.boutUs 1==11=211=11=11
Sear`h: Store Products philanthrapic History
~ ~ • z _ . ~
Service to the commurnty and focusing on supporting organizations that
No ttems benefit education, health care, women and chiidren goes hand-in-hand with
~ Shopping cart Eckerd Corporetion's century long tredition of caring for people in its ~
~ Sho List nEighboYhoods. PPn9
No Items
~ Add Prescriptions Children's Mirecle Network As one of the top five retail sponsors of the Children's j Miracle Nehvork (CMN), Eckerd has devoted special Rwficr,
. a'• : attenGon to its IitUest neighbors since 1987. Due to the
generous support of Eckerd's customers, associates and ~ hralrn
AEOLJT , I vendors, the corporetion has confibuted more than z prU9 A
$15.5 million to the 67 chiidren's hospitals wRhin our 20
state market area, over 14 years. qo Ask rk
Facts at a Glance -
Our Background
Executive Profiles United Way 5 Sc~ing
History - Timeline Eckerd associates, customers and vendors also show
The Eckerd Way ;
Photo Archive support of their local United Way agencies each year
Philanthropic History through a voluntary payroll deduction and in-store
campaign program. Over $3.5 million dollars is donated
annually by Eckerd associates and the company to ^
theseagencies. ' ' ""1OL
Eckerd Golf Classic
Eckerd continues to show its support for the Eckerd
family of Charitiesa by sponsoring a golf classic
February. Started "m 1991, the Eckerd Golf Classic
partners Eckerd associates with Eckerd vendors for a
day of fun, sun and golf. Proceeds from the Eckerd GoH
Class+c benefit Eckerd Youth Attematives, the JCPenney
Afterschool Program, the Eckerd Scholastic Stars
Scholarship Program and the Juvenile Diabetes
Research Foundation. These organizations offer
intervention programs and services, essential after
school care options, partial college scholarships and
funding for research. Find a cure for diabetes.
ership with the American
(UNCF) dunng Black History Month each February.
United Negro Coliege Fund
In a commitment to higher ucation for Afican-
r ed
American students and in partn -
~
Health and Beauty ute (AHBAI), Eckercl
~ Aids Instit
donates annualty to the UnRed Negro Coilege Fund
E'
http://www.eckerd.com/content.asp?contenr-company/aboudphilanhistory 10/2/2002
Eckerd.com - Philanthropic History
Eckerd Photo Ki.d. Progrzm
In 1999, Eckerd teamed up wiih Polaroid to help bring
home missing chifdren through the Eckerd Photo Ki.d.
Program, which is designed to hetp lower the number of
missing children and to raise awareness among parents
about the importance of proper child identification and
safety. During the 1999 program, Eckerd donated
$25,000 to the National Center for Missing and Exploited
Children and included a photo and infortnation about a
child reported missing in their newspaper tabloids every
week.
Eckerd's Pharmacy Student Loan Program
Eckerd's Phartnacy Student Loan Progrem provides
financial suppoR to students attending an accredfted
college or university. Qualified students are eligible to
receive a loan of $2,000 per school year. Students are
not required to pay back the loan while they are in
school. For each year they are employed by Eckerd as a
full-time phartnacist following graduation, they will have
one yeafs loan repayment canceled.
Eckerd's commitment to educate students as well as associates is evident
in the fortnation of the Scholastic Stars program. This program awards
scholarships to associates, their spouses or their dependents annually.
The scholarship criteria focuses on academic achievement, community
involvement and leadership skills.
Eckerd is aiso very involved with otfering scholarships to phartnacy
students through pledged commitments to over 10 major colleges of
pharmacy throughout the country.
Eckerd recognizes the volunteer efforts of its active and retired associates
annually through the James Cash Penney Awards program. Nomination
fortns are submitted each year with a cash donation given to each
qualifying nonprofit organization. !f you would like your nonprofit
organizaton to be considered for a monetary donation read the Eckerd
Corporation Foundation guidelines to find out how to submit a proposal.
M
Home I Find a Store I Partner Sites I Contact Us I Site
Map
Shop Safeiy Online I"_" Shipping and Retums
Ptease see our Terms of Use Sewriry Policy antl our Promises of Quallty
ior complete in(crmatior
CoFynght O 2002 Eckr.a Corporatior i.li Rights Reserv>tl
Page 2 of 2
~
http://www.eckerd.com/content.asp?content--company/abouUphilanhistory 10/2/2002
WINDHOLZ & ASSOCIATES
ATTORNEYS AT LAW
1650 38TH STREET
SUITE 103 WEST
BOULDER,COLORADO 80301
JAMES A. WINDAOLZ, P.C. Telephone: 303-443-3100
DAVID S. WILLIAMSON Faac: 303-443-7835
WILLIAM P. HAYASHI
E-MAIL MEMORANDUM
TO: Wheat Ridge Uxban Renewal Authority Board of Comrrussionexs
FROM: Jim Windholz
DATE: Octobex 11, 2002
RE: EXTENSION OF LAW REGARDING OPEN MEETINGS
COURT OF APPEAL.S
On September 12, 2002, the Colorado Court of Appeals rendered a decision in a case
entitled Costilla County Conservancy District u. Board of County Commissioners,
Costilla County, which has a significant affect upon the open meetings law.
FACTS
In the Costilla County case, two (of three) county commissioners attended a meeting
hosted by the Colorado Department of Health and Environment to hear about a
proposed clean up plan for pollution. The commissioners had been invited to the
meeting along with other citizens and officials. At the meeting the commissioners
only listened, made no presentation and did not talk. They did not take any official
county action or conduct county business.
COURT RULE OF IAW
The Court of Appeals ruled that the commissioners' mere attendance at this
meeting triggered the public notice requirement for open meetings.
The Court ruled that public riotice (which generally should be posted 24 hours in
advance of the meeting) is required not oniy when a public body (Board of
Commissioners) has called or arranged the meeting, but also when a quorum (or 3
or more) of the legislative body is present or expected to be present at a meeting
called or arranged by others. Public notice is required when the Board of
Commissioners may be expected to attend, even if they ultimately do not attend.
This also means that, without public notice, three or more Board members cannot
accept invitations to informal discussions to attend as passive onlookers regarding
private presentations on public matters for the purpose of influencing their
subsequent policy decisions.
CONCLUSION/RECOMIVIEIVDATION
All formal or informal meetings or gatherings attended by three or more Board
members at which discussions by anyone may or will take place involving public
matters must be preceded by posting public notice thereof 24 hours in advance.
This does not apply to chance or social gatherings. For example, this applies to
meetings with county commissioners, city councils or boards and commissions,
governing bodies or boards, organizations of cities or governments (CML)(CCRA),
and developers and state agencies (CDOT) where public matters are discussed or
are the purpose of the meetings. To assure compliance, I recommend that all Board
members' calendars, involving three or more members, be posted as a matter of
course in accordance with the open meetings law.
JAW/dr
xc: Alan White
2
SEPTEMBER 36,3002
WHEAT RiD~GES&ANSC.R
Gas station to build at 3$th, 3heridan
WHEAT RIDGE
BY JUSIINIAN HA7F7ELD
Sc~inel and L=cripc NtwspaPnS
Alchough many members
of the council didn'c wanc
co see it happen, the
Whea[ Ridge Cicy Council ap-
g roved a special use pexmi[ [o
uild a gas scacion in che King
Soopers' parking lot at Wes[
38ch Avenue and Sheridan
Boufevard.
The eighc-member Wheac
Ridge Planning Commission aed
in a vore to approve Ehe special use
pertnit Aug, 15, rhereby denying
the cequest. King Soopers cAme
back and made an appeal before
[he Ciry Council on Sepe. 23.
Cicy Councilman Vance
Edwards, who wotks (or King
Soopers in Lakewood, voluncari-
Iy recognized his contltcc oF in-
(Eresc and leEt the council cham-
bers during ehe discussion and
suUsequen[ voie.
The gas scacion Will include
four pumps, a laosk and a canopy
It will be in rhe sou[heasc comer of
the parking loc jusc behind che
new ciry entry sigcy It wiIl be open
from 6 a.m. t0 10 p.rn., and its
lighrs will 6e [umed off when i['s
noc open.
[n cesponse [o tommencs cha[
a gas stacion doesnc flt wich the
new 30th Avenuc, King Soopers
agreed co eecend the screet-sc3pe
pro] ect Fence along Sheridan
Boulevazd and build Lhe kiosk ou[
of cFie same brick used alongwesc
38di Avenue [o help tie in the look
and feel of the redeveloped sQeec.
- Bu[ mote impoCwnt co rht tiry5
pockecbook is chac the score also
agreed io e-xcend its lease on [he
sice For ano[her 12 years after iLs
current laase ends in eiphc years,
Councilman Jerry DiTullio said
rhaE the ciiy receives abouc
5700,000 a year in revenue hvm
tlie store.
'I'm really confused," said ou[=
spoken 38th Avenue redevelop-
menc opponenc Roberc McGhee.
He said the 38th Avenue rede-
velopmenc plan scares chac auto-
mobile incensive usu may have ro
be relocaced in favor oF more
pedestrian (riendlv uses. McGhee
asked the council why it would
put a gas s[a¢on in a pedestnan-
friendiy environmene.
A(ter the meeting, Di2ullio said
he agreed wich McGhee when he
says he is conFused. .
Dirullio said chat McGhee
complained when asked (or a tax
increase and dien he complained
when the ciry aied co keep a large
sales-rax generacor.
"I'm noc happy abouc a ~as sta-
tlon ac the sice any more t~ien he
is," DiTullio said. "BuL Wheac
Rie needs co rerain.and suppon
rhe usinessrs that ic already has ^
The ary scaFf said there will be
enough parking on the sice buc
srill uked the store's employees co
park in Lhe mar of the building.
AEter tkte meeang, Edwards said
he wasn't tfuilled abouc agas sra-
tion on the sice buc rhac the cirys
hands were ued. IC ihe comcil did-
nt approve the gas staaon, che
store could have teFt in eighc yeais.
That prompced Councilwoman
Odazlta Figlus eo a5k if che score is
planrting to leave in eight years.
Mike Shunk, King Soopers re-
al estate represen[adve, said, "We
do noc have any inLentions to va-
ca[e the ptoperry a&er the end oi
those eight years."
t Councilmart Harry Hanley eaid
y?g Wliirjn'I minnnrr rho. .f Ci
r r-• •
ptacing a gaz scarion ac the gaee-
way [o che city and new gaceway
sign because ic is "impossiUly, in-
conceivably incoruis[ene wich why
che ary asked the dcizens co spend
in cYCess oFS3 million to dress up
the area,"
The voce m approve the special
use pemuit to build the gas srarion
passed 5-2_ Figlus and Hanleyvot-
ed againsc it.
YaGE S
IYUMalgreen's
couaa buiaa at
38tn, snedaan
W H E A Y R I D G E
' BY JVS'j'1NIAN Hp7FIELD
Scnnn.( unE hmucnpr Nmspapea
T he cornex oF Wes[ 36ch
Avenue and Sheridan
Boulevard could be home
co [he ciry's nesc Walgteen's
Drug Score. Huc cht propercy
owntts whose ptoper[y could
be cond~mned by che cicy
Wcren'c infortned about un 2.ug.
19 meeting ac which the coun-
etil discvssed dte possibSiry.
She cicys saying thac ic didn'c
wanc ro scare the properry ormers
inro thuilang somerhiizg was goitg
cu happen beFom ic was decided.
"We didn'[ w¢nc [o go and in-
vice everyont and say. 'Yes we po-
cenrially may wanc co buy your
land' and then tum around and
sav 'No, we're not incer¢sied in
i[,'" Ciry Councilman Vance
Edwatds said.
Edwards, who also servu on
dzz urban renewsl auchoriry, said
[he group discussed ac length
wheehor ot noe co imice the pmp-
erry ownen.
}OuT coACetri was we weTe
lartd of daened if we do or damed
if we dori c," he said_ "We jusc
came to the condusion that i[ was
vety premacure unless City
Council ¢ave the blessng ro con-
dnue moving fonvud and aying
co m3ke chis move happen."
Iha moming 3fcer the mcec-
ine„ represenradves Irom rhe ur-
ban ienewal authoriry's consul[-
ing ftrm talked wich [he orope*ry
owners. Edwards said.
Walgreens approached che
ciry nnd said iC would lilce io
buld a tuw score on the south-
wesc comer of Wesc 38ch Avenue
and Sheridan Boulevard. Ihe am
alxcady is under uiban rene-al.
Edwards said the comers de-
velopmtn[ Would be pu[ ovt [o
bid, so some[hing o[her chan a
Walgteens could be buil[ on the
sice. Casman eucomodve, one o[
che affected businesses. did no[ te-
mm a caIl fmm the Iianscripc.
~
n N ~TJ _ ~L
~ L-~ p y G v r"1
r ~ ✓ ~ ~
_ r ~ O Y
o0a a
3o~c
~
.n 'J' N O N~_ N
^
~ el ` >
L)
T y~
L
N~ Y 00 H•~
m C
= Ca ^ tc F.U v~ ~
Aa
aOr. U
? ~
~
7
°1 " ~
D G ~ v
y
o
.
.
n•~ 1.-=~ C in
o
cc
T lE
~
~ ~ G V. ~ ..~n
L` O
~
G y v~ ~ N K F
~
't0
N
a
~
~ v.^.. r L•1 R O.d. J
N
'
h0
Ti
~
tC'
~
C O P
-
,
Q
0
-
ip a
^~3
^iy r C G,!• w
y,r
C L
~
G~~ O w~ ~ C G
N =
~ ~
~
O J~ 7 C7 jc m
Q
Lf~
C T
'U
~c
~3 u n'~
D
T
v .
J
O
C ep
tiA
m~a o¢
a
~ O
N m
cc
m ~
,-y v~ ^ O?0 ~ N
- m-
❑ v 7 ~
~
a m
C2
o
s K ~ c ~ ~ 1
N U
6
v
~
ou
m`m
Gq
C
v~ v ~
R O O r1 R..
I
ca
~
~ 3 0 ~ 3a av
0 9
FN ~ p u ~ O Y m r.
-0
R
~ N
. .N 2
u
^
r
f^ u
.
a ~
~
a
~ u ah O
C O V~ ~
~2
o~
Q
e'~;
y ~2¢ o
~ n
pJ pQ v 4
°
r°
v
>
J U
tn
0
N i/i
Q
C
f"¢
F~
= W 2 U_v ai~
~141/'
~ V'] c •a
ai
a o
z=
-
ba
%
Z-Z
d
Y
~
Go
w = f
~
C O
~
O
~
y
f~
r
V
~
r~
~
■
O
C+~
W
~
■
~
~
~
d o
QA)
G ~
V
H
Z
Q
0.'
N
l5
F1~ r= 'o
5T ^ ~Z e= o y GN
y
~ ~.~-°~OUN:=yOYFOVI'
_ N y~ R F ~ F ~ C~ O
C G wV
~ ' - '
N ~
W ~
N
p
O
b
G
<
C
❑
~
C
a
H'I
~
~
~
`
~
~
~
~
~
~
C
oD
c
~ C N~.^It J II'~ ~ C ~ T `Z ~'C =
L ~ V W ~
_
m'- u
' =p 3= v n ~ 3 F-h G o
uUV
~a cu=o9~m~-uo'^oo.
m o`^ n~ ^.~Z u=U~v v ~
10 ~ u 0
~ u = v
9c9 mVs_ aJ Q~ u=~F.ep~ ~ ~
c ^ a ` o _='o • ~ ca. ^
m 3
p`pv e0~n a in r_y u~ ~ ~ ~ ^
d N i y~ G F+ c~ p c U,. q
-15
g~~n
dA G O= ~0~'F n ~r.~~ ^ m tr
H O ~ O'G O VI F K W O F 7, ~S~ rG ~
F= v~ ~ o ° c• ~ 6 p V'o O~ v c
>'1-L
v F'~, ~ <
yp 0. ~ o"u
u N'Z ~ u
- O
N J~ ~ F'• ti U Ti ~~J
~ ^ u C oi u ~
G~ V U
v.~ ~ v" w,~ y R 5 O_ F o u 0.= C n u'_ ~ u L1. o F^ 0 5 a~ oU~ .5
O y'~.~ ~L.,~ C J L F~ ^ p N G'? R>=~;d O R~ ~ TCCO V
Cv~O~..~^'I MN~.~u.C~ w~0^pp~ COwG ?h~~ v'sr~
~ F T~ O 3~ ~ J NO TGR U~ C. O C.v []~N N d~ N C VI ~ ~ pH c1lC
O~c~U ~oJ016'vv~so_O?'yOT~Y~~~-LLO~~~N~'J^L_o04">-JWO<
E~~.O ~ OOr V N q. U M 'S V C ~ Vl ~.J NO~ N N~
u 5~ ~--~r°a^ ~o^'"~ amt'`vn ~ o
CJ = ~ L ^ ~ ~ ^ y `'S. ~ ~'L] fS G X p tl N ~ C . ^ O fi ~ S y u
VI 0~~~ C U _Y, v~ ~ F~.A N p = M0= N~ OOL C.vl . ~ h ~
q. VS'-uG~yR~-YU~V„ U~.8 U7ENU7p G0-O^aV ? ~-EyFV
m V._. n_ ^ _ u V L
^:z5 ~ Tn u C~-. r> ~ 1- ~ u d o~ y~= b Q ~
=;a - G
w ~ ~ v~ 00 ~ v1 ~ N^ 0 9~ ~ u^ u _ a ~J 'r
= yi u N y~ G= N" U ~ U r cuj ei l ~ 2 F^ op oa y °j 5
a~c J ~ ^"~,'~•r ~ 7
,L a Y y. V= n.. C 2 n~ u ca c>'D ~c G. u 4.~o~i a. Z p d u ~ ~ ~ 00~ b n o0
OQCOYCp~~`=uiO.Cy~LOyyG~o~Or~=G F-n
~ VOU n_..O'OOCNB~ um'Cl'=J -OD>~U.~ v°~4.~.~ !
~ ❑
V- y u
N y ~ U y^ C.^ R.O O L G~~ ^ S. v N~ n O O c
v ^c...`O ON GO~~yN~~J: '
u s
m ti ~
o~°'~ v~ti~~mmv~"2, u°yv
^
= o O ~ N~ 1v ~n G vWi^lGti U ~ ~ ^ >.c+ ^ p
'
0. O ^r
~ C_ N U L i.~ i. O~' O VI 41 r O U J~ C L~~ IQ ~ N~O N._. 0~ C O y~ O v
` n N ~ ~ ~J ~ ,arl ~ ~ O ~ A~ ~ C_ ~ ~ ~ ~ ~ G a _ ~ y Y L _ _ r :TT~ ~ L' •C
~ V F., ~ C. o~ N N O M y ~ •Q r
- ~"~cd=~-o~= ov.~o~aau'°=~.-cauv°,%,n~=cd=y~-
y _ o zi
= v a ^o~,~a Q
~ L O F" O~nn - ~ G OO S C D N~~ ? Y v ~ J..r'. ~ ~ J~ r- ^ U F J~ L__ -(v~i ~
U a:7 I-.T c = h~ G~ ~ C v ai in
°u a = F-
THURSDAY, SEPTEMBER 5, 2002
WHEA7 RIDGE 1'RANSGRiPI
~treetscape project useless, shop ouuner says
ContinucdJrom Page 1
Inore money [han you have," he
said. "Basically, the people oF
\Vhea[ Ridge dont lmow whafti
going ott. They're being treaCed
like mushroams. They're being
kept in che dark and being fed
b ulls--c."
EdWards doesnt buy iL
'1 chink [ha[ anybody that has
driven dou+n 36ch previous co
[hese projec[s would realize tha[
chey am needed and we were start-
3ng [o see dererioration and dilap-
idacion movjng along [hac corri-
dor," he said.
Morris said Edwards' sca[e-
menrs ehac ehe ciry muse eicher cuc
services or taise raxes is ludicrous.
"Inscesd o[ cuaing services,
[ake [he money thlc they ate w3sc-
ing uuc checc (5[ree[scape projett)
and puc ii [oward the services [hey
are going [o cuc," he said,
:dso bochen Morris [tac ehe
~~s never said whac services it
is going [o cuc.
"LPs ludicrous," he said.
"They're using semancics co make
[llis woTlc Cor ihem"
Buc Edwards said ic would be
premacure co discuss specific
sennas chdc may need [o be w[
be[ore discussing [he curs wich
[nc ciry managcr, ciry scnu and
the citiuns.
"All oF thac's pure speculacion,"
Edwards said. "t chinic [hac aeaces
chaos and people being upse[
over some[hino we don"t kno-
abuv[ yet."
Duc the Eacc remains, Edwards
said, cUac the ciry could mn ou[ of
moncy.
"Nre're scill faced wich the
[am, whecher Mr. Moiris wan[s
co believe ic or no[, chae we're
paying more for getteral services
([han we're cotleccing),"
Edwards said. 'AC somt cime,
we're going co run dry on our
savings accounc. 1 don't enjoy
r' news any inoxe ehan etiyone
ju[ ac 5ome poin[ we have
[a-,.ice reall[y"
"Basially, the peaple af Wheat
Ridge danR (mow w6at's gaing
an. They're 6eing treqbed Me
mushrooms. They're hemg
Mept in ihe dark and being
fed bulig.V
Orln Morris
AbsolUtely CaOine[s oWner
While [he ciry is mllcing of cuc-
dng strvices, Morris said i[5 also
busy ndding new setvices, such az
maBttaining the new ,grscs on 38th
Avenue.
"Gze, is chac a servim chac we
need? Maybe chac's a service chey
could have cuc ouc by noc pucting
in, in the firs[ place," he said.
Then chere's the bleck poles
ch,c Morris said the consauccion
eompany cold the eirywould necd
Consian[ maincenance,
"lc§ a wasce oFmonex" he said
'7hey puc in crap thac isn c going
to lasc. Ihey (the black poles) al-
ready look dusry and sh-ry out
here."
Ihe bocmm line, according ro
Morris, is tha[ tht city's wasting
money.
"8asically chey've puc in a
bunch of rhings cha[ are mrally un-
needed, tocally unnecessary, and
chcy're ralldng abouc doing more,"
he said. "ICs ludicraus."
Edwazds said the pmjta is a test
co xe if the ciry nn help spnut up
a disaessed bustness zea.
"Parc of the problem in che
commutury are people like Mr.
Morris, chac reFuse co acknowl-
edge Lhat a probiem exiscs,"
Edwards said. "He doesn'c like
the city, ic's one more ax to
grind, and this sicuacion jusc
happened co be in Froni of his
business."
But Edwards doesn'c have a
problem wirh Motris voicing his
opinion
"In [he end chae's v+hac chis
counQy's all abou[," EdWards said.
"HtS hee co voice his opinion, and
chac§ good for me."
Pholo Oy NGAN ORTAM
Orin Morris, owner of Absolutely Cabinecs, s[ands outslde his shop on West 38th Avenue. The window
ofthe sho21C I}II Qf GQTTPl1TC abMfi cP(L'L:n NTi rV4^cil me;,^,Csrs-
- '
\ \ \
\
\
0
\ \
0 0 0
\
0
\ \ \
o 0 0
0
\
0
~ W
o 0 0
N W O
0
7
0 0 0
d' LfJ tn
CO
~ O) N
.
0')
000
O
'7
WQ
N c0 N
h
I- (Ij cD
N
O? 0) CO
N
O O O
O
(O
U W
~ N N
~
~ N
~
~
r N ~
d'
000
O
~
~ ~
o
J
p
j
'
wV
az
comr-
rn
Lnrn"
co
t ,-n
a
o
v
N 1-
1-
O) O) (M
O
N c0 C7
It
~9
N
N M M
O)
00 m I
f,
M
00
.
Lf?
6
n
N
~
N
~
M
6a
c0
fH 63
V)
V3
63
Gl~
N 0)
\ ~
~
~
~
~
~0 0 0
\
0
\ 0~
0 0
0
~
0
W
0
o
ln m N
0
O
0
0 0
OD VLO
0
I,
f- O -t
m
N I~ M
d'
U)
M
W Q
oJ LO I~
LO
I, 7 m
- W
N Ln O
N
r N CO
Qf
U W
~
0
V ~
r
~
N
~
N
~
V M~
V'
'
C`
7
N
N N
~
wV
a?
°J
°
irnv
o
°
v
~
mmc
O
m
rnrnm
n
~
c
ornr
f, N N
c7
CY) O OD
m
0) ln
f,
(O I~ U)
W
0)
N d' u)
N
c0 f,: M
I,
(O
Ld
f- r
Il:
(TJ
~
N
LO
EH
W
(!i ER ER
N
N (A
Cl)
603 Efl [!j
613
lfi 63
ER
Eff
63 ~
EH
O F-
6%
N N
~
~
~
~
~
~
~
\
0 ~ 0 ~ ~
0
0
0 ~ 0 ~ 0~
0 ~
~
0
W
~
0 .
o
0
O N N
o
11
0
0 0
(O - V
0
m
O P7 O)
M
M I, 7
lD
CO
It N 07
m
u7 O O)
O
01 7 OD
V
O f0 00
d'
N
W Q
~
~
6 6
4
NM
N
U~
~ c
+J ~
V
d
' ~ N
N
N N N
N
f0
M
~
w U
az
C7 N N
O
d' V h.
N
f~ I, N
N
O c0
I,
M
O) V ln
m
N(O OJ
M
0] I~
OD
(O W O
d'
ln
It N O
O
N 00 m
O N V
f,
M 7 O
N
W
Mi c0
V
I- f,~ N
N
N N O)
C7
Ld O Ld
O
&
N
ln
6-3 -
C7
fPr
M
N Q3
7
(O
~
d3 E!) EA
6~3
V) EH
63
fA EPr
63
ER f!3
fA
~
N (!1
~ ~
~
~ ~
~
~
0 0 0
~
0
~ ~ ~
0 0 0
~
0
~
0
W
F
o
0 0
N r W
0
If!
0 0 0
M 00 m
0
N
W O N
C7 00 N
i~
CO
Z Cn
m c7 a)
N
c`7 I, O
d'
[O V(O
CJ
(O d' Lr)
LO
O
~
w¢
Ooi V
I-
N d' 07
CO
~ Ch 7
'V'
Lry (O (D
In
LJ,I
U W
N N M
N
07 M
(7
r M N
N
M ul ~
C'7
Ch
~
cc
U
W
d?
V
cIJ m,-
oN n
LO
cocov
n
m~m
n
o
Z
CD M O
O
CD V d'
LO
O N I~
O
O ~ O
It
N
c7
01
ln r 00
Eir)
tn CJ 00
f:
(3) tf] r
CO
00 ~
r
~
O) N
M
O NIt
f1
(O Ln ~
07
d- (O N
O)
It
T
ER ~
M
ch EH
7
(A ~
Ef3 ER
C9
ffl
N fA
Ef3 V)
7
63
(O
0
~ F
63 V}
fA
fF3 Ef3
ff3
~
N
W
C'3 N
p o
0
~ N
0) tn V'
N
O) O) ll)
Cl)
d' N N
O
(O f~ [O
W
O
N
O (3) 00
oJ
- r
0) W f~
(O
Lf) N CO
CO
tD
c0
c0
M
1- O) N
N
N
T-
c0 7 CO
N
U) N
. a E-
tCi 1,: (O
O
I, O) V
CO CO In
oJ
f0 O
c0
OD
W N
W
't C`7 M
N
M 7[F
M
-IT d- V
(h
V V ln
M
N
~(n
V3 EF3 63
~
V> fn E9
-
U3 EA Ef3
~
~3
V
~
_ 0.
T
~itn
rm
N
m
3:
W
.
F
„
f-
W
F
Cc
H
O
Q
J
ir
=
m 22
~
a
~
a
U
m
O
J W
CJ
~
CJ
Q W W
Q
U
z
Q
f-
~QZ
0
c7d
c
UOw
=
O
~
~
N
'
~
U
~
0 Z 0
~V
I~
3:
LL 2
Q
M
N
Q
7
M