HomeMy WebLinkAbout08/07/2007AGENDA
WHEAT RIDGE URBAN RENEWAL AUTHORITY
August 7, 2007
Notice is hereby given of a Public Meeting to be held before the City of Wheat Ridge Urban
Renewal Authority on Tuesday, August 7, 2007, at 6:00 p.m., in the City Council Chambers of
the Municipal Building at 7500 West 29th Avenue, Wheat Ridge, Colorado.
1. Call the Meeting to Order
2. Roll Call of Members
3. Approval of Miuutes - June 19, 2007
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 of Gemini site
6. Adjournment
MINUTES OF
WHEAT RIDGE URBAN RENEWAL AUTHORITY
June 19, 2007
6:00 p.m.
1. CALL THE MEETING TO ORDER
The meeting of the Wheat Ridge Urban Renewal Authority was called to order by
Chair Williams at 6:00 p.m. in the council chambers of the Municipal Building,
7500 West 29°i Avenue, Wheat Ridge, Colorado.
2.
3.
4.
5.
ROLL CALL OF MEMBERS
Authority Members Present:
Also attending:
James Bahrenburg
Teri Carver
Janet L,eo
Larry Schulz
Terrell Williams
Ann Lazzeri, Secretary
Alan White, WRURA Executive Director
Corey Hoffmann, WRURA Attorney
Chair Williams announced that Pete Ziemke had submitted his resignation from
the Authority because `he no longer resides in the City of Wheat Ridge.
APPROVAL OF MINUTES - May 15, 2007
The minutes of May 15, 2007 were approved as presented.
PUBLIC FORUM
There was no one to address the Authority. (Charles Durbin was present but did
not speak.)
NEW BUSINESS
A. Discussion of 441" Avenue/Wadsworth Property
Chair Williams advised the Authority that preliminary discussions were
held regarding the possibiliYy of purchasing properties for future
redevelopment. Funding could include Wheat Ridge 2020, Community
Development Block Grants and various bonding mechanisms. The
properties would generally be bounded by Upham Street to Wadsworth
Boulevard and 44"' Avenue to the northem border of the Times Square
center.
WRURA Minutes - 1 -
June 19, 2007
There was a consensus of the Authority that these discussions should
continue.
B. Update on Lawsuit
Corey Hoffmann reported on the Supreme Court hearing. The issue
before the Supreme Court was whether or the not the Urban Renewal
Authoriry could be compelled to exercise eminent domain against its
wishes.
Mr. Hoffinann advised that it is possible to listen to the entire proceedings
by going to the Colorado Supreme Court website.
C. Other Business
Alan White announced his resignation as Community Development
Director effective July 20, 2007. He has accepted a similar position with
the City of Englewood.
6. ADJOURNMENT
The meeting was adjourned at 6:45 p.m. The next meeting is scheduled for
August 7, 2007.
Terrell R. Williams, Chair Ann Lazzeri, Recording Secretary
WRURA Minutes - 2-
June ]9, 2007
Ogilvie
.
City of Wheat Ridge and August 1, 2007
The Wheat Ridge Urban Renewal Authority
7500 W. 29`h Ave
Wheat Ridge, CO 80033
Re: Consideration for the redevelopment of the Gemini Site - 4300 Wadsworth
To Whom It May Concern,
Please accept this letter and associated drawings/ photographs for consideration of the
proposed Gemini redevelopment as a viable urban renewal project.
4300 Wadsworth is located within the Wadsworth Comdor Redevelopment boundary
which defines the Gemini site as blighted, due to a deteriorating structure and site,
inadequate utilities, faulty lot use, low property tax and zero sales tax revenue
contribution for the City of Wheat Ridge.
Our proposed development would remove the former Gemini restaurant site and replace
it with a new 7000 sq ft building that contains a drive -thru component. We believe thi<
$3 million development will significantly contribute to increased property taxes and
create a new sales tax opportunity for the City of Wheat Ridge. To create a viable
community commercial center that establishes a positive architectural precedent on
Wadsworth Blvd, mirroring that of the City, is our goal.
For this quality development to become a reality we need the assistance of the Urban
Renewal Authority and its ability to finance project development costs with Tax
Increment Financing. To date the combined cost of acquiring and developing the site
produces lease rates that exceed any prospective tenanYs ability to pay.
In order to produce marketable lease rates we are asking the Urban Renewal Authority to
consider an estimated rebate of $500,000. This estimated rebate amount includes eligible
improvements such as existing building demolition, utility costs to bury lines and make
larger connections, architectural design features (tower, awnings) and material upgrades
(brick, stone), hardscaping and landscaping improvements, a pedestrian access network,
and underground water quality and site detention to name a few.
We look forward to discussing how we can make this redevelopment a success.
Best Regards,
ep en Lechner
Asset Manager
- Ogilvie Properties, Inc.
1905 Sherman St.. Suite 750 Dernec CO 80203 303.864.9774 - FaY 303.864.9775
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REVISIONS
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