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HomeMy WebLinkAbout12/11/2007 MINUTES WHEAT RIDGE URBAN RENEWAL AUTHORITY December 11, 2007 ORIGINAL 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 29th Avenue, Wheat Ridge, Colorado. 2. ROLL CALL OF MEMBERS Authority Members Present: Rick Adams James Bahrenburg Janet Leo Walt Pettit Larry Schulz Terrell Williams Authority Members Absent: Tom Radigan Also attending: Patrick Goff, Deputy City Manager Jeff Parker, WRURA Attorney Rob Osborn, WR2020 Executive Director Ann Lazzeri, Secretary 3. APPROVAL OF MINUTES - November 6, 2007 It was moved by Walt Pettit and seconded by James Bahrenberg to approve the minntes of November 6, 2007. The motion carried 5-0 with Janet Leo abstaining. 4. PUBLIC FORUM No one wished to address the Authority at this time. A. Resolntion 05-2006 - Presentation and Approval of 2008 Budget 5. PUBLIC HEARING The 2008 budget for the Wheat Ridge Urban Renewal Authority was presented by Patrick Goff. Rick Adams asked if interest was accruing on funds which were ordered frozen by the court. If so, the interest could be placed in the operating fund. Jeff Parker will look into this. WRURA Minutes - I - December 11, 2007 Chair Williams asked ifthere were any members ofthe public who wished to address the budget. Hearing no response, the public hearing was closed. It was moved by Walt Pettit and seconded by Janet Leo to approve Resolution 05-2007, a resolution enacting a budget and appropriation for the year 2008 for the Town Center, Walgreens Project and Wheat Ridge Cyclery project funds. The motion carried 6-0. 6. NEW BUSINESS A. WRURA v. Cornerstone Supreme Court Ruling - Jeff Parker, WRURA Attorney Jeff Parker reported that the Colorado Supreme Court ruled that the Authority cannot be compelled to exercise power of eminent domain. He requested that the Authority give approval for him to give a copy of the ruling to the city attorney. There was a consensus of the Authority to give such approval. The case will now go back to trial court but the only damages available, if Cornerstone were to prevail, are money damages. B. 44th and Wadsworth Conceptual Plan - Rob Osborn, WR 2020 Executive Director Rob Osborn presented a proposed conceptual plan for the area under option in the 44th and Wadsworth area. The pIan calls for a potential of 50,000 square feet of retail, 114,000 square feet of office space, and 100,000 square feet of residential. The conceptual plan will be reviewed with the city staff to maximize uses. The next step would be to formulate an RFP to be sent to developers. He also reported that a grant has been obtained to perform a Phase II environmental analysis for the area. C. Staff Updates 1. 44th and Wadsworth - Financing Negotiations Patrick Goff reported on negotiations with FirstBank regarding a $3.4 million loan for property acquisition. Corey Hoffinann has drafted a purchase and sale agreement with several contingencies including the provision of title commitments, surveys, etc. WRURA Minutes - 2- December 11, 2007 Terrell Williams expressed some concern about entering into a purchase and sale agreement until financing is finalized. His concern was based on experience with the Cornerstone matter. Rick Adams stated that he was more concerned about the results of the Phase II environmental study. He felt confident that financing could be accomplished. Jeff Parker noted that Phase II results could be added as a contingency. It was moved by Janet Leo and seconded by Rick Adams to direct staff to finalize a purchase and sales agreement for properties located at 7340 and 7540 West 44th Avenue with contingencies as discussed, and bring the agreement to the next WRURA meeting. The motion carried 6-0. 2. 44th and Wadsworth - Engagement of an Appraiser Patrick Goff reported that FirstBank needs an appraisal to finish their loan proposal. James Bahrenburg suggested having the properties appraised separately and together. 3. 44th and Wadsworth - Phase II Environmental Patrick Goff reported that the Phase II report will be received on December 15, 2007. Quotes were received for a comprehensive test on the Antique Mall building which would include asbestos and mercury testing. The best quote received was $4,500. It was moved by Larry Schulz and seconded by Janet Leo to authorize appraisal of two properties located at 7340 and 7540 West 44th Avenue including a provision that, if possible, they be appraised individually and paired; and also authorize asbestos and other contamination testing ofthe Antique Mall building with a cap of $10,000 for the two combined activities. The motion carried 6-0. 4. Wheat Ridge Cyclery Improvements Agreement I I I I I Patrick Goff reported that all eligible improvements have been completed. Sales and property tax increment will begin to accrue as of December 1, 2007. D. Election of Officers WRURA Minutes - 3- December 11, 2007 Patrick Goffwas elected secretary of the Authority in accordance with bylaws which state the executive director will also serve as secretary. Terrell Williams announced that he will not seek reappointment to the Authority when his term ends this year but would be willing to continue to serve for a short time if needed. It was moved by Rick Adams and seconded by Janet Leo to nominate Terrell Williams as Chairman to give continuity for a time until a replacement is elected. The motion carried 6-0. It was moved by Terrell Williams and seconded by Rick Adams to nominate Walt Pettit as Vice-Chair. The motion carried 6-0. E. Other . Walt Pettit and Patrick Goffreported on the Brownfields conference they attended. . The next meeting will be held on Monday, December 17. . The first scheduled meeting of the Authority for 2008 falls on January 1 st. There was consensus of the Authority to cancel that meeting. 7. ADJOURNMENT The meeting was adjourned at 7:54 p.m. ~jQ&l&- --..J -... Terrell R. Williams, Chair WRURA Minutes - 4- December 11, 2007