HomeMy WebLinkAbout12/01/2009AGENDA
WHEAT RIDGE URBAN RENEWAL AUTHORITY
December 1, 2009
Notice is hereby given of a Public Meeting to be held before the City of Wheat Ridge Urban
Renewal Authority on Tuesday, December 1, 2009 at 6:00 p.m., in the City Council Chambers of
the Municipal Building at 7500 West 29th Avenue, Wheat Ridge, Colorado.
Individuals with disabilities are encouraged to participate in all public meetings sponsored by the City of Wheat
Ridge. Call Heather Geyer, Public Information Officer at 303-235-2826 at least one week in advance of a
meeting if you are interested in participating and need inclusion assistance.
1. Call the Meeting to Order
2. Roll Call of Members
3. Approval of Minutes - November 17, 2009
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. Staff Updates
6. Corporate Identity Workshop
Hilarie Portell - Portell Works
7. Public Hearing
a. Resolution 08-2009 - Approving a Supplemental Budget for 2009
b. Resolution 09-2009 - Adoption of the 2010 Budget and Appropriation of Funds
8. Other Matters
9. Adjournment
MINUTES
WHEAT RIDGE URBAN RENEWAL AUTHORITY
November 17, 2009
1. CALL THE MEETING TO ORDER
The meeting of the Wheat Ridge Urban Renewal Authority was called to order by
Chair Adams at 6:00 p.m. in the council chambers of the Municipal Building,
7500 West 29th Avenue, Wheat Ridge, Colorado.
2. ROLL CALL OF MEMBERS
Authority Members Present: Rick Adams (Left meeting at'7:23 p.m.)
James Bahrenburg
Becky Bye
Janet Leo
Walt Pettit
Tom Radigan
Larry Schulz
Also attending: Patrick Goff, Executive Director
Corey Hoffmann, WRURA Attorney
Anne Ricker, Leland Consulting
Hilarie Portell, Portell Works
Ann Lazzeri, Recording Secretary
3. APPROVAL OF MINUTES - November 3, 2009
It was moved by Larry Schulz and seconded by Janet Leo to approve the
minutes of November 3, 2009 as presented. The motion passed 5-0 with
Becky Bye and Tom Radigan abstaining.
4. PUBLIC FORUM (This is the time for any person to speak on any subject not
appearing on the agenda.)
There was no one present to address the Authority.
5. STAFF UPDATES
• Patrick Goff reported on the recent Brownfields Conference he attended.
There seems to be a development trend toward smaller infill projects.
• The master development agreement has been finalized with Weston Solutions
for the 44`h and Wadsworth area.
WRURA Minutes - 1 - November 17, 2009
6. CORPORATE IDENTITY WORKSHOP
The workshop was conducted by Hilarie Portell of Portell Works. She invited
discussion and suggestions for a corporate identity that would clarify the program
and mission of the present authority. It will be important to educate the
community on the mission and community involvement of the Authority through
displays at city hall and other places. Names and taglines were discussed.
"Renewal Wheat Ridge " or "Renewal Partnership of Wheat Ridge " were the
most preferred names. If "partnership" is in the name, "community" should be
in the tag line. If "partnership " is not in the name, it should be in the tag line.
"Our community, countless possibilities " was generally preferred as a tag line.
Ms. Portell will return with logo concepts to fit the suggested names and tag lines
for the Authority's consideration.
7. URBAN RENEWAL AREA MARKET STUDIES - PRESENTATION AND
REVIEW OF PROPOSAL
Anne Ricker of Leland Consulting presented a proposal to obtain additional data
for the urban renewal areas on Kipling from 52"d Avenue to 44th Avenue and
possibly from 44th Avenue to 35th Avenue as well as the 38th Avenue urban
renewal area. There was a consensus of the Authority to accept the proposal from
Leland Consulting.
8. PROPOSED 2010 BUDGET - REVIEW AND DISCUSSION
Patrick Goff presented the proposed 2010 WRURA budget for discussion. A
public hearing on the budget will be held at the December 1, 2009 meeting.
There was a consensus to direct Patrick Goff, on behalf of WRURA, to ask City
Council for the sales tax increment that has accrued from the Walgreens project.
This would amount to approximately $31,000.
9. OTHER MATTERS
There were no other matters to be considered by the Authority at this time.
10. ADJOURNMENT
The meeting was adjourned at 8:02 p.m. The next meeting is scheduled for
December 1, 2009.
Rick Adams, Chair
Ann Lazzeri, Recording Secretary
WRURA Minutes -2- November 17, 2009
Wheat Ridge Urban Renewal Authority
7500 W. 29th Avenue Wheat Ridge, Colorado 80033 303-235-2846 303-235-2857 (Fax)
TO: Urban Renewal Authority Board Members
FROM: Patrick Goff, Executive Director.
RE: Resolution 08-2009 Supplemental Budget Appropriation
DATE: November 20, 2009
Attached is a resolution adopting a supplemental budget appropriation for the 2009 Town
Center Fund budget. A supplemental budget appropriation in the total amount of
$390,000 is necessary for the following expenditure:
Town Center Fund
The Authority purchased the property at 7300 W. 44th Avenue on August 20, 2009 for
$390,000. The purpose of the acquisition was for the future mixed-use development
at the S.E. corner of 44th and Wadsworth. The 2009 Town Center Fund budget does
not include an appropriation for this purchase; therefore a supplemental budget
appropriation in the amount of $390,000 is required to balance the budget.
Recommended Motion:
"I move to approve Resolution 08-2009, amending the fiscal year 2009 Urban
Renewal Budget to reflect the approval of a supplemental budget
appropriation in the amount of $390,000 for purposes of the property
acquisition at 7300 West 44th Avenue."
Attachments:
1. Resolution 08-2009
WHEAT RIDGE URBAN RENEWAL AUTHORITY
RESOLUTION NO. 08
Series of 2009
TITLE: A RESOLUTION AMENDING THE FISCAL YEAR 2009
URBAN RENEWAL BUDGET TO REFLECT THE
APPROVAL OF A SUPPLEMENTAL BUDGET
APPROPRIATION IN THE AMOUNT OF $390,000 FOR
PURPOSES OF THE PROPERTY ACQUISITION AT 7300
WEST 44rH AVENUE
WHEREAS, C.R.S. 29-1-103 (1) of the Local Government Budget Law of Colorado
requires certain local governmental entities to prepare and adopt an annual budget; and
WHEREAS, the Attorney for the Authority has opined that the provisions of the Budget
Law do apply to the Authority; and
WHEREAS, notice of adoption of the 2009 supplemental appropriation and budget was
given by the Urban Renewal Authority in compliance with C.R.S. 29-1-106; and
WHEREAS, the Authority previously adopted an appropriation for 2009 on November
13, 2008, which appropriation must be modified for the property acquisition at 7300 West 44th
Avenue; and
WHEREAS, in compliance with the provisions of the Budget Law regarding notice,
objections, and hearing, a public hearing was held on the Supplemental Budget and
Appropriation for 2009 on December 1, 2009.
THEREFORE, BE IT RESOLVED by the Wheat Ridge Urban Renewal Authority as
follows:
Section 1. The year 2009 supplemental appropriation for the Town Center Fund as shown
on Exhibit I attached hereto is hereby approved. The purpose of the 2009 supplemental
appropriation is to increase funds in line item 37-120-800-801 by $390,000.00 for purposes of
the property acquisition at 7300 West 44th Avenue.
Section 2. Total expenditures of the Authority do not exceed available revenues and
beginning fund balance.
Section 3. A certified copy of this resolution shall be filed with the Division of Local
Government.
ADOPTED the 1 st day of December, 2009.
UAUrban RenewAURA Packet MaterialA091201 Supp Budget Appr Res.doc
WHEAT RIDGE URBAN RENEWAL
AUTHORITY
Chairperson
ATTEST:
Secretary to the Authority
UAUrban RenewahURA Packet MaterialA091201 Supp Budget Appr Res.doc
Wheat Ridge Urban Renewal Authority
7500 W. 29th Avenue Wheat Ridge, Colorado 80033 303-235-2846 303-235-2857 (Fax)
TO: Urban Renewal Authority Board Members
FROM: Patrick Goff, Executive Director _Q~
RE: 2010 Budget Adoption
DATE: November 23, 2009
Attached is Resolution 09-2009 - A Resolution Enacting a Budget and Appropriation for
the Year 2010 for the following budgets:
Exhibit 1: Town Center Fund
Exhibit 2: Wheat Ridge Cyclery Project Fund
Town Center Fund
Town Center Fund revenue in 2010 is projected at $330,000, which is a 63% decrease
compared to the 2009 estimated revenue of $891,433. The primary reason for the
projected decrease is because the Town Center Fund will receive the following one-time
revenues in 2009:
1. Final property tax increment for the suspended Walgreens' project at 38th and
Sheridan in the amount of $11,784. The TIF for this project was suspended in
2009 (37-500-00-501).
2. Community Development Block Grant (CDBG) in the amount of $390,000 for
reimbursement of the purchase of 7300 W. 44th Ave. (37-520-01-549).
3. Property sale of 3718 Ames St. in the amount of $122,272 (37-580-01-583).
4. Miscellaneous revenue including $8,796 for reimbursement from Mel Karl for the
quiet title action and $23,581 from insurance for property damage to the Stage
Stop Antique Mall as a result of the July 20th storm (37-580-00-588).
In addition, the beginning fund balance for 2010 is projected at $1,184,518 which brings
the total available funds for the Town Center Fund to $1,514,548.
Sales tax increment from the Town Center Urban Renewal Area continues to decline and
is projected to decline by 15% ($45,000) in 2009 compared to 2008 and is projected to
remain flat in 2010 (37-500-00-504).
The proposed 2010 Budget includes rental income from the Stage Stop Antique Mall for
12 months. If the proposed 44th and Wadsworth redevelopment project begins in 2010,
there is the possibility this revenue source may be eliminated or reduced (37-580-00-
582).
Town Center Fund proposed expenses for 2010 include miscellaneous expenses for
conferences, meetings, dues, books and subscriptions; annual reimbursement to the City
for personnel expenses; legal services; and debt payment for the loan acquired for the
purchase of the properties at 7340 and 7540 W. 44th Avenue. Town Center Fund
expenses total $366,424 which is a 52% decrease compared to the estimated 2009 budget.
The primary reason for the estimated decrease is due to the following one-time
expenditures in 2009:
1. Purchase of the 7300 W. 44th Ave property in the amount of $389,217 (37-120-
800-801).
2. Strategic planning process in the amount of $10,000 (37-120-700-750)
3. Corporate identity package in the amount of $3,100 (37-120-700-750)
4. Three market studies in the amount of $15,000 (37-120-700-750)
5. Maintenance to the Stage Stop Antique Mall in the amount of $12,511 (37-120-
700-760).
This will provide for a projected ending fund balance at the end of 2010 in the amount of
$1,148,094.
Wheat Ridge Cyclery Project Fund
Wheat Ridge Cyclery Project Fund revenue is projected at $40,000 which includes
property and sales tax increment.
Wheat Ridge Cyclery Project Fund proposed expenses for 2010 total $40,000 which are
property and sales tax increment payments due to Wheat Ridge Cyclery pursuant to the
Improvements Agreement dated March 21, 2007. The term of the Agreement is for ten
years or a total rebate of $264,180, which ever comes first.
Recommended Motions:
"I move to approve Resolution 09-2009 - A Resolution Enacting a Budget and
Appropriation for the Year 2010 for the Town Center and Wheat Ridge Cyclery
Project Funds."
Or,
"I move to approve Resolution 09-2009 - A Resolution Enacting a Budget and
Appropriation for the Year 2010 for the Town Center and Wheat Ridge Cyclery
Project Funds with the following amendments "
Attachments:
1. Resolution 09-2009
WHEAT RIDGE URBAN RENEWAL AUTHORITY
RESOLUTION NO. 09
Series of 2009
TITLE: A RESOLUTION ENACTING A BUDGET AND
APPROPRIATION FOR THE YEAR 2010
WHEREAS, C.R.S. 29-1-103 (1) of the Local Government Budget Law of Colorado
requires certain local governmental entities to prepare and adopt an annual budget; and
WHEREAS, the Attorney for the Authority has opined that the provisions of the Budget Law
do apply to the Authority; and
WHEREAS, notice of adoption of the 2010 budget and appropriation was given by the Urban
Renewal Authority in compliance with C.R.S. 29-1-106; and
WHEREAS, in compliance with the provisions of the Budget Law regarding notice,
objections, and hearing, a public hearing was held on the Budget and Appropriation for 2010 by the
Authority on December 1, 2009.
THEREFORE, BE IT RESOLVED by the Wheat Ridge Urban Renewal Authority as
follows:
Section 1. The year 2010 budgets for the two funds as shown on Exhibit 1 and Exhibit 2
attached hereto are hereby approved and the funds indicated therein are hereby appropriated for
expenditure in 2010. The purposes of the 2010 budget are to make funds available for normal
operating expenses and to provide tax increment funding for an urban renewal project in the urban
renewal area. Sources of funds for the Authority are sales tax increment generated by an urban
renewal area.
Section 2. Total expenditures of the Authority do not exceed available revenues and
beginning fund balance.
Section 3. A certified copy of this resolution shall be filed with the Division of Local
Government.
ADOPTED the 1 st day of December , 2009.
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Chairman
ATTEST:
Secretary to the Authority
EXHIBIT 1
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Town Center Fund
BEGINNING FUND BALANCE
Revenues
2008 Actual 2009 Adjusted 2009 Estimate 2010 Adopted
$634,201 $1,083,863 $1,064,476 $1,184,518
37-500-00-501 Property Tax Increment
$12,429
$0
$11,784
$0
37-500-00-504 Sales Tax Increment
$303,032
$300,000
$255,000
$255,000
37-520-01-549 CDBG
$0
$0
$390,000
$0
37-580-00-581 Interest
$22,126
$15,000
$20,000
$15,000
37-580-00-582 Rental Income
$42,333
$60,000
$60,000
$60,000
37-580-01-583 Property Sales
$0
$0
$122,272
$0
37-580-00-588 Miscellaneous Income
$0
$0
$32,377
$0
TOTAL REVENUE
$379,920
$375,000
$891,433
$330,000
TOTAL AVAILABLE FUNDS
$1,014,121
$1,458,863
$1,955,909
$1,514,518
Personnel
37-120-600-602 Salaries
$0
$0
$0
$0
37-120-600-625 FICA
$0
$0
$0
$0
Total Personnel
$0
$0
$0
$0
Supplies
37-120-650-651
Office Supplies
$0
$0
$0
$250
37-120-650-654
Printing & Photocopying
$0
$0
$0
$2,000
37-120-650-655
Postage
$0
$0
$0
$0
Total Supplies
$0
$0
$0
$2,250
Services
37-120-700-702
Conference & Meetings
$634
$2,000
$500
$2,000
37-120-700-706
Dues, Books, Sub
$275
$500
$500
$500
37-120-700-740
Mileage
$0
$0
$0
$0
37-120-700-750
Professional Services
$92,198
$47,000
$54,000
$50,000
37-120-700-758
City Reimbursement
$112,127
$10,000
$12,000
$12,000
37-120-700-760
Utilities & Maint.
$592
$25,600
$18,000
$5,000
37-120-700-799
Misc.
$1,489
$4,500
$4,500
$2,000
Total Services
$207,315
$89,600
$89,500
$71,500
Capital
37-120-800-801
Lands. Buildings, & Wat
$206,587
$682,674
$681,891
$292,674
37-120-800-872
Site Improvements
$0
$0
$0
$0
37-120-800-873
Payment to Fire District
$0
$0
$0
$0
37-120-890-897
Trans to Walgreens Fund
$0
$0
$0
$0
Total Capital
$206,587
$682,674
$681,891
$292,674
TOTAL EXPENDITURES
$413,902
$772,274
$771,391
$366,424
ENDI
NG FUND BALANCE
$600,219
$686,589
$1,184,518
$1,148,094
EXHIBIT 2
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Wheat Ridge Cyclery Project Fund
2008 Actual 2009 Adjusted 2009 Estimate 2010 Adopted
BEGINNING FUND BALANCE $ - $ - $ - $ -
Revenues
37-580-00-501 Property Tax Increment
$ 14,645
$
15,000 $
14,488
$
20,000
37-580-00-584 Sales Tax Increment
$ 12,155
$
15,000 $
15,000
$
20,000
37-580-00-581 Interest
$ -
$
- $
-
$
-
37-580-02-588 Sale of Property
$ -
$
- $
-
$
-
TOTAL REVENUE
$ 26,800
$
30,000 $
29,488
$
40,000
TOTAL AVAILABLE FUNDS
$ 26,800
$
30,000 $
29,488
$
40,000
Services
37-122-700-702 Conference & Meetings
$ -
$ -
$
-
$ -
37-122-700-706 Dues, Books, Sub
$ -
$ -
$
-
$ -
37-122-700-740 Mileage
$ -
$ -
$
-
$ -
37-122-700-750 Professional Services
$ -
$ -
$
-
$ -
37-122-700-758 City Reimbursement
$ -
$ -
$
-
$ -
37-122-700-799 Misc.
$ -
$ -
$
-
$ -
Total Services
$ -
$ -
$
-
$ -
Capital
37-122-800-801 Acquisition & Relocate
$ -
$ -
$
-
$ -
37-122-800-872 Site Improvements
$ 26,800
$ 30,000
$
29,488
$ 40,000
37-122-900-901 Loan Payment
$ -
$ -
$
-
$ -
Total Capital
$ 26,800
$ 30,000
$
29,488
$ 40,000
TOTAL EXPENDITURES
$ 26,800
$ 30,000
$
29,488
$ 40,000
ENDING FUND BALANCE $ -
$ -
$
-
$ -