HomeMy WebLinkAboutStudy Session Notes 11/08/2010STUDY SESSION NOTES
CITY COUNCIL MEETING
CITY OF WHEAT RIDGE, COLORADO
City Council Chambers
7500 W. 29th Ave.
November 8, 2010
Mayor Pro Tem Reinhart called the Study Session to order at 8:20p.m. Council
Members present: Joyce Jay, Joe DeMott, Karen Adams, Tracy Langworthy, Wanda
Sang, Karen Berry and Mike Stites. Also present: City Manager, Patrick Goff; Interim
Administrative Services Director, Heather Geyer; City Clerk, Michael Snow; City
Treasurer, Larry Schulz; Community Services Director, Kenneth Johnstone; Parks and
Recreation Director, Joyce Manwaring; Staff and interested citizens.
APPROVAL OF AGENDA
1. 44th and Wadsworth Redevelopment
Mr. Goff reviewed the status of the proposed redevelopment project as well as funding
issues and investing opportunities that exist. Potential development partners include
Jefferson County Health and Human Services and Motor Vehicle service facilities, a
proposal by Metro Community Partners Network (MCPN) to build a large medical facility
and from Wazee Partners to build workforce housing on the site. Mr. Goff reviewed the
current financial needs, indicating the CDBG funds previously believed to be of use on
this project are now understood to not be eligible for the project. Staff is requesting
approval by Council to continue the pursuit of potential purchase agreements with
Jefferson County and MCPN. Need $1m loan from City for initial site work to be
reimbursed with property sales; Weston to develop site designs; Rick Adams indicated
Renewal Wheat Ridge intended to devote $500,000 of its reserve funds towards the
project and stressed the importance of the City to support the project.
Council was in consensus for the City to commit up to $1 million today to enter into
contracts for demolition and site preparations, with a requirement that Staff establish
timelines within 30 days for delivering purchase and sale agreements relative to how
they relate to the expenditure of City funds.
Rick Adams reiterated that Renewal Wheat Ridge was under the burden of over
$300,000 debt service expense each year for the loan funding with only $180,000 in
yearly revenues from the Town Center Tax Increment Financing (TIF). He requested
that Council double those revenues by expanding the TIF from 50% to 100%. Council
did not support this proposal until it is clearer how the development project will proceed.
Meeting adjourned at 9:50p.m.
Michael Snow
City Clerk