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HomeMy WebLinkAbout10/02/2007 ORIGINAL MINUTES WHEAT RIDGE URBAN RENEWAL AUTHORITY October 2, 2007 1. CALL THE MEETING TO ORDER The meeting of the Wheat Ridge Urban Renewal Authority was called to order by Chair Williams at 6:10 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 James Bahrenburg Walt Pettit Tom Radigan Larry Schulz Terrell Williams Authority Members Absent: Janet Leo Also attending: Patrick Goff, Deputy City Manager Jeff Parker, WRURA Attorney Ann Lazzeri, Secretary 3. APPROVAL OF MINUTES - September 5, 2007 Rick Adams offered the following correction to the minutes of September 5: Ron Osborn should be changed to Rob Osborn on the first page. It was moved by James Bahrenberg and seconded by Rick Adams to approve the minutes of September 5, 2007 as amended. The motion passed with Larry Schulz and WaIt Pettit abstaining. 4. PUBLIC FORUM Charles Durbin was present but did not address the Authority. 5. NEW BUSINESS A. Update on 44th and Wadsworth Property Assemblage Wheat Ridge 2020 has commissioned a Phase I assessment of the properties to address environmental conditions of the properties at 7340 and 7540 West 44th Avenue. The report is estimated to be concluded and presented to WR2020 by mid-October. It is the recommendation of staff WRURA Minutes - I - October 2, 2007 that the option agreement and negotiations to purchase the V ohoska property be put on hold until WR2020 and WRURA have had a chance to review the Phase I environmental report. The Authority agreed with this recommendation. If a Phase II assessment becomes necessary, the property owner will be contacted regarding an extension for the option. Direction was given to Mr. Goff to find out how long a Phase II assessment would take. Staff continues to negotiate with I st Bank Wheat Ridge for a property acquisition loan in the amount of $4 million for the properties located at 7340 and 7540 West 44th Avenue and other potential property acquisitions in the area. Bond counsel has concluded that this type ofloan would not be eligible for tax-exempt status. B. Resolution 03-2007, Approving Amendments to WRURA Improvements Agreement with Wheat Ridge Cyclery WRURA entered into an Improvements Agreement with Wheat Ridge Cyclery on March 20, 2007 to assist in blight prevention and elimination by providing additional funds to the redevelopment of the Cyclery property. The Cyclery has requested a one-month extension (from October I, 2007 to November 1, 2007) for the remainder of eligible improvements (specifically the public arts panels). It was moved by Larry Schulz and seconded by James Bahrenberg to approve Resolution No. 03, Series of 2007, a resolution of the Wheat Ridge Urban Renewal Authority extending the deadline to November 1,2007 for completion of the eligible improvements by the Wheat Ridge Cyclery. The motion passed unanimously. C. Town Center Sales Tax Increment Allocation Council agreed to amend agreement to remove cap and extend Sales Tax Increment Allocation through 2014. This will give WRURA additional revenues to pay debt service on future loans or other urban renewal projects. The amendment will be considered at the City Council meeting of October 22,2007. D. WRURA Board Structure Staff received direction at the September 10, 2007 City Council meeting to bring forth an ordinance to amend Section 25-24 of the Wheat Ridge Municipal Code to allow at-large members ofWRURA to include one elected city official (excluding the mayor) and/or one non-resident WRURA Minutes - 2- October 2, 2007 individual who owns a licensed business in good standing located within the city. The ordinance (Council Bill No. 24) was approved by City Council on first reading at the September 24th meeting. A public hearing and second. reading is scheduled for October 8th There was discussion about the definition of "individual who owns a licensed business" in the ordinance. Direction was given to Patrick Goff to contact Gerald Dahl, City Attorney, regarding clarification of the definition. 6. ADJOURNMENT The meetiug was adjourned at 7:25 p.m. The next meeting will be held October 30, 2007. errell R. Williams, Chair av WRURA Minutes - 3 - October 2, 2007