Loading...
HomeMy WebLinkAbout07/09/2001 MINUTES OF WHEAT RIDGE URBAN RENEWAL AUTHORITY July 9, 2001 5:30 p.m. ORIGINAL 1. CALL THE MEETING TO ORDER The Wheat Ridge Urban Renewal Authority meeting was called to order by Chair Matthews at 5:30 p.m. 2. ROLL CALL OF MEMBERS Commissioners present: Kandi McKay Sandra Collins Vance Edwards Marilynn Force Jim Goddard Elwyn Kiplinger Janet Leo (arrived at 6:10 p.m.) Dick Matthews Commissioners absent: Rae Jean Behm Norm Burkpile Margy Platter Also attending: Alan White, Planning Director Jim Windholz, Urban Renewal Attorney Rick Buddin, Kutak Rock Steve Bell, Hanifen Imhoff Art Anderson, Arthur L. Anderson & Associates Ann Lazzeri, Secretary Justinian Hatfield, Transcript Bob Olsen, The Chronicle 3. APPROVAL OF MINUTES The minutes of the regular meeting of June 11, 2001 were presented for consideration. Dick Matthews requested an amendment to page one to reflect the meeting started at 5:30 p.m. rather than 7:00 p.m. It was moved by Vance Edwards and seconded by Marilynn Force to approve the minutes as amended. The motion passed unanimously. 4. APPROVAL OF AGENDA Due to the fact that he will be voting on the blight resolution at City Council, Vance Edwards stated that he would excuse himself from hearing the blight resolution item during this meeting. He requested that the agenda be amended to hear this matter as the last agenda item. Page 1 WRURA Minutes 07/09/01 It was moved by Marilynn Force and seconded by Sandra Collins to move Item D regarding Resolution 01-03 to last place on the agenda. The motion passed unanimously. 5. PUBLIC FORUM There were none present to address the Authority. 6. OLD BUSINESS There was no old business to come before the Authority. 7. NEW BUSINESS A. Consideration of enterine; into an ae;reement to ene;ae;e the services of a financial advisor Alan White presented this matter. In order to have the needed expertise available to analyze financing options, the City's potential contribution and potential ballot issues, staff reconimended that Hanifen Imhoffbe hired as the City's financial advisor even though the full scope of development costs is still not known. Steve Bell addressed the Authority. He stated that his firm does not charge a retainer or charge by the hour. A fee is charged only upon the successful issuance of tax-exempt bonds. Jim Windholz stated his opinion that it was important to have Hanifen Imhoff on board throughout the entire process. In response to a question from Vance Edwards, Jim Windholz stated that both the financial advisor and bond counsel should report directly to the Urban Renewal Authority with the city's approval. It was moved by Vance Edwards and seconded by Marilynn Force that the Authority engage the services of Hanifen Imhoff as the Authority's financial advisor and present that information to City Council on July 23, 2001 for ratification. The motion passed unanimously. B. Consideration of enterine; into an ene;ae;ement letter ae;reement with Kutak Rock for lee;al services related to financial/bond matters Alan White presented this matter. Last year the Authority recommended and Council approved consulting with a bond attorney on matters pertaining to establishing an urban renewal plan. The proposed agreement would formally engage the services of Kutak Rock to provide bond counsel services. WRURA Minutes 07/09/01 Page 2 Steve Bell explained that fees would be charged in a two-stage basis. The first stage would involve one-half time charges at special hourly rates plus out-of-pocket expenses for looking at redevelopment plans and working with developers before a bond issue becomes realistic. The second half of the fee would be charged if, and when, the bonds are issued. Kutak Rock would work on a deferred basis until the bonds are issued. Fees would then be paid from bond proceeds. Jim Windholz stated his opinion that it was also very important to have Kutak Rock on board throughout the entire process to give advice on the Tabor amendment, tax-exempt matters, etc. It was moved by Vance Edwards and seconded by Marilynn Force that the Urban Renewal Authority have the Chairman ofthe Board ofthe Urban Renewal Commissioners sign the engagement letter with Kutak Rock as bond counsel and refer the letter for ratification at the next City Council meeting. The motion passed unanimously. C. Selection of consultant(s) to prepare urban renewal plans and establish interview committee; set times and date for interviews Alan White reported that two proposals were received and interviews scheduled to take place on July 10. The interview process for each consultant should take about an hour. Sandra Collins, Dick Matthews, Marilynn Force and Vance Edwards will serve on the interview committee. (Vance Edwards left the meeting at 5:47 p.m. prior to the hearing of Resolution 01-03) D. Resolution 01-03: A resolution findine; the existence ofblie;ht in the vicinity of Ward Road and 44th Avenue and makine; recommendations to the Wheat Ride;e City Council Art Anderson presented his findings from the survey performed by his company. He reviewed the four exhibits which will be presented to City Council. The study concluded that there are a number off actors of blight by definition of the state statute found in the study area. No residentially zoned properties were included in the study area. The findings in Resolution 01-03 are based upon the blight survey prepared by Arthur L. Anderson & Associates. Marilynn Force expressed concern about leaking underground storage tanks. Mr. Anderson stated that mitigation procedures have been in place, Page 3 WRURA Minutes 07/09/01 improvements made, and the state has now released the owners of the property from mitigation. She expressed further concern regarding responsibility for clean-up of the remaining pollution arid wanted to make sure the Authority would not be hit with cost overruns during redevelopment of that land. It was moved by Marilynn Force and seconded by Sandra Collins that the Authority accept Resolution 01-03 and forward it to City Council with a recommendation for approval. The motion passed unanimously. E. Bude;et Amendment Alan White reviewed his memorandum of July 3, 2001 to the Authority outlining the budget and year-to-date expenses. He reported that the balance in the budget would not be sufficient to pay for the services of a consultant to prepare the urban renewal plans, a redevelopment management consultant or financial advisor. It was recommended that a budget amendment be approved to transfer funds into the Authority's budget in the amount of $100,000.00. It was moved by Marilynn Force and seconded by Kandi McKay that more information with a complete list of costs involved (those incurred to date and those anticipated) be placed on the agenda for the next Urban Renewal Authority Meeting. The motion passed unanimously. 8. OTHER MATTERS There were no other matters to come before the Authority. 9. ADJOURNMENT It was moved by Marilynn Force and seconded by Sandra Collins to adjourn the meeting at 6:20 p.m. The motion passed unanimously. ~~ Richard Matthews, Chair ~ WRURA Minutes 07/09/01 Page 4