HomeMy WebLinkAbout1985-08-14 EDDA MINUTESFORM ~ C. F . HOEC KEL B. B. 8: L. C O.
RECORD OF PROCEEDINGS
ENGLEWOOD DOWNTOWN DEVELOPMENT AUTHORITY
3535 S. Sherman -Englewood, CO 80110
MINUTES
August 14, 1985
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100 Leaves
Board Members Present: Coleman, Mausolf, Neal, Owens, Pendleton, Tomooka
Board Members Absent: Green, Kaufman, Oswald
Staff Present: P. Dietrich
Guests: Dorothy Dalquist, Susan Powers
The regular meeting of the Englewood Downtown Development Authority was called
to order by Chairman Bill Pendleton at 12:12 PM on August 14, 1985.
The minutes from the previous meeting were presented for approval. Ms. Owens
moved, seconded by Mr. Mausolf, to approve the minutes from the regular
meeting of July 10, 1985. The motion was passed unanimously by voice vote.
The Treasurer's Report was presented by Penny Dietrich. Mr. Mausolf moved,
seconded by Mr. Tomooka, to accept the Treasurer's Report, dated July 31,
1985. The motion was passed unamously by voice vote.
DIRECTOR'S REPORT
Public Improvements -Ms. Dietrich noted that the bids will be opened on
August 26, 1985 at 3:00 PM for the ·public improvement project on South Broadway.
The completion date is est.imated to be October 27, 1985. At this time, the
project is on time. There was an example of a light fixture in the 3300
block of South Broadway to determine the color and paint.
Tree Dedication Project -The brochure descril ing this project is completed and
will be distributed once the project has been bid and contracts are awarded.
Anticipation for a major thrust for the tree edication and related publicity
will take place in September and October. I
Crime Prevention Meetings -·Ms. Dietrich noted that representatives from
Cinderella City, Swedish Medical Center, Englewood merchants, ~d South
Broadway merchants were in attendance at these meetings, and were also very
interested in pursuing crime prevention measures.
RECORD OF PROCEEDINGS 100 Leaves
FORM SO C. F. HOECKEL B, B. & L, CO.
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Page Two
Minutes
August 14, 1985
CHAIRMAN'S REPORT
As this was the last meeting for Council Member John Neal because of his
promotion and subsequent move to another state, Mr. Pendleton invited Mr.
Neal to make a few remards regarding the EDDA and its past, present, and future direction.
Mr. Neal noted that various projects that have been accomplished at the
DDA include the parking lot and the public improvements on South Broadway.
Also, the communication with the merchants has been greatly improved. He
wished the Authority and its members continued success.
As there was no further business, the meeting was adjourned at 1:25 PM.
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RESOLUTION 1985 -2
WHEREAS, the addition of landscaping and lights will positively upgrade
the image of South Rroadway in downtown Englewood, and
WHEREAS, the public inprovements will coincide with those planned for Trolley
Square in the Englewood downtown redevelopment project, and
WHEREAS, the public improvements will help promote the economic growth
of the downtown area,
NOW, THEREFORE LET IT BE RESOLVED that the Board of Directors of
Englewood Downtown Development Authority approve the Term Business
Loan Agreement of $225,000 from First Interstate Bank of Englewood
for the purchase of public improvements in the 3200 -3500 blocks
of South Broadway. The following terms will apply: an interest rate
equal to prime rate, said prime rate to change when and as such prime
rate changes; accrued interest shall be due and payable at 9/30/85 and
12/31/85; at January 1, 1986, the then principal outstanding shall be
converted to a term note of five years with principal to be amortized
over ten years at an interest rate of First Interstate Bank of Englewood,
N.A. prime rate, said rate to change when and as such prime rate changes.
Principal plus accrued interest shall be payble quarterly on the last day
of each March, June, September, and December of each year commencing March, 1986,
and continuing quarterly thereafter until December, 1990, on which
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il..ast menti.'Oned dat:e, al11... rema±ntng pr;incipal and i'llte,rest shall be
due and payable.
Dale 1
Ayes: Coleman, Neal, Owens, Pendleton, Tomooka
Nays: None
Abstain: Green
Absent: Kaufman, Mausolf, Oswald