Loading...
HomeMy WebLinkAbout05/06/2003 MINUTES OF WHEAT RIDGE URBAN RENEWAL AUTHORITY May 6, 2003 5:30 p.m. ORIGINAL 1. CALL THE MEETING TO ORDER The Wheat Ridge Urban Renewal Authority meeting was called to order by Chair Hashem at 5:40 p.m. The meeting was held in the Council Chambers of the Municipal Building, 7500 West 29th Avenue, Wheat Ridge, Colorado. 2. ROLL CALL OF MEMBERS Commissioners present: Norm Burkpile Vance Edwards Mary Hashem Elwyn Kiplinger Kandi McKay Commissioners absent: Margy Platter Janet Leo Tom Mallinson Terrell Williams Also attending: Alan White, WRURA Executive Director Arne Ray, Szymanski/Ray Ann Lazzeri, Recording Secretary 3. APPROVAL OF MINUTES It was moved by Vance Edwards and seconded by Norm Burkpile to approve the minutes of April 22, 2003. The motion passed unanimously. 4. PUBLIC FORUM No one indicated a desire to address the Authority at this time. Chair Hashem announced that a public forum would be held after the update on negotiations with Cornerstone Group. 5. EXECUTIVE SESSION Chair Hashem announced that there was no need for an executive session. WRURA Minutes 05-06-03 Page I 6. NEW BUSINESS A. Adoption of Resolution Approving Disposition and Development Agreement (DDA) with Cornerstone Group Alan White reported that Jim Windholz, Urban Renewal attorney, is anticipating the development agreement to be executed by the developer within the week. It could then be approved by the Authority at its next meeting. B. Update on Negotiations with Cornerstone Group Alan White presented an update on the negotiations with Cornerstone. . Jim Windholz is still negotiating a provision which would hold the Authority harmless if any contamination is found on the site. . Due diligence procedures concerning financing, lease agreement, and CDOT access will take place during May and June. . Environmental studies will take place as soon as access is granted after offers are made. Results would be available within three to four weeks after studies are conducted. . Tenants and landowners will be contacted concerning acquisition and relocation matters prior to July I, 2003. . Closing date is set for October 28, 2003. If all negotiations are finalized, the closing could happen sooner. It is anticipated that eight months after closing, a certificate of occupancy would be issued and Walgreens could be open in July or August of2004. . A tentative funding commitment has been reached with a lender for sufficient funds to move forward with the project. Meetings have been scheduled with two other lenders during the next week. . Arne Ray reported that one oftwo appraisal proposals ($8,500 for analysis and $5,000 for documentation) has been received. He asked the Authority to give authorization for Alan White to enter into a contract, up to $8,500, for an appraiser to conduct analysis of the properties. It was moved by Norm Burkpile and seconded by Elwyn Kiplinger that an expenditure of up to $8,500 be approved for the analysis portion of the real estate appraisal. The motion passed 5-0. . Arne Ray stated that he would come back to the Authority to negotiate the environmental study fee at a later meeting. WRURA Minutes 05-06-03 Page 2 . Alan White stated that new letters would be sent to landowners and tenants informing them of the intent to begin the initial purchase process prior to July I, 2003. . Alan White will be meeting with CDOT early next week to discuss access issues on Sheridan. . Alan White is working with the city attorney to work out details of the city entitlement process which includes special use process, consolidation plat, alley vacation, etc. 7. PUBLIC FORUM Chair Hashem entertained public comment at this time. Terry McFadden asked if acquisition and relocation would occur simultaneously. Arne Ray explained that the Authority would attempt to start with acquisition and relocation negotiations at the same time (prior to July I) and deal with them as quickly as possible within the subsequent thirty to sixty days. 7. OLD BUSINESS . Alan .White stated that Jim Windholz would no longer be able to attend Tuesday evening meetings and requested that a date be set for the next WRURA meeting. The next meeting date was set for Friday, May 16, at 5:30 p.m. 8. OTHER MATTERS . Kandi McKay tendered her resignation from the Authority because she plans to move out of the city. On behalf of the Authority, Chair Hashem expressed appreciation to Kandi for her service on the Authority. 9. ADJOURNMENT It was moved by Vance Edwards and seconded by Kandi McKay to adjourn the meeting at 6:12 p.m. Ma:ta:;;t, ~h~i~ , Ann Lazzeri, Secretar WRURA Minutes 05-06-03 Page 3