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HomeMy WebLinkAbout1986-05-14 EDDA MINUTESFORM ~o C. f . HOECKEL e. B. & L. co. RECORD OF PROCEEDINGS ENGLEWOOD DOWNTOWN DEVELOPMENT AUTHORITY 3535 S. Sherman -Englewood, CO 80110 Minutes May 14, 1986 100 Leaves Board Members Present: Boselli,Green, Kaufman, Mausolf, Oswald, Otis, Pendleton, Tomooka Board Members Absent: Coleman Staff Present: P. Dietrich Guests: Dick Hinson, Whitney Ward The regular meeting of the Englewood Downtown Development Authority Board of Directors was called to order by Chairman Bill Pendleton at 12:01 PM on May 14, 1986. The minutes from the previous meeting were presented for approval. Mr. Green moved and Mr. Kaufman seconded, to approve the minutes from the April 9, 1986 regular meeting. The motion was passed unanimously by voice vote. Mr. Green presented the Treasurer's Report. Mr. Kaufman moved, and Mr. Mausolf seconded,. to accept the Treasurer's Report dated March 31, 1986. The motion was passed unanimously by voice vote. CHAIRMAN'S REPORT Terms .of Office--Mr. Pendleton noted that he would meet with Ms. Dietrich regarding the terms of office and the vacancies that will occur on July 1, 1986. DIRECTOR'S REPORT An Overview East of Broadway Report The summary of the Rocky Mountain Research Institute report is ready for distribution and will be sent to developers and realtors. This report is an excellent overview of the area east of Broadway. Laventhol & Horwath Report -Final Phase Ms. Dietrich reported that the final phase of this report will be presented, in draft form, to the Board at the regular meeting on June 11, 1986. Work has continued and there are no anticipated delays. Also, a joint meeting with the Planning and Zoning Commission is planned for 5:30 PM on June 3. During this meeting EDDA will present the progress to date on the area east of Broadway. It is hoped that the Commission will have initial suggestions and comments. At a later date, the EDDA will then present the final report of the Marketing Study for east of Bro~dway with recommendations. Colorado Business Magazine The May issue of Co·lorado Business Magazine had a feature article on · downtown Englewood. Because the article was very positive, Ms. Dietrich noted that she is ordering 2,000 reprints of this article for distribution. A large number will be distributed at Springfest. .e FORM 50 C. F . HOECKEL 8 . B. &: l. CO. Page Two Minutes May 14, 1986 Springfest e RECORD OF PROCEEDINGS 100 Leaves On June 14 and 15, Arapahoe County will be celebrating its 125th birthday. The City of Englewood and EDDA will co-sponsor a booth that depicts the history of Englewood and the downtown area. Ms. Dietrich reported that brochures and flyers from EDDA as well as departments from the City of Englewood will be distributed at this event. Questionnaire from Englewood Sentinel Ms. Dietrich distributed the completed questionnaire prepared to address questions posed to downtown business and property owners. Urban Renewal Authority Dick Hinson reported on the status of several of the Urban Renewal Authority's projects. JBC Corporation has received a study that indicates that the northwest corner of the redevelopment project could support up to 300 rental . units. It is hoped that the construction can begin in August 1986. Buyer's Club--Demolition will begin on Park Floral site on June 6 with the Buyer's Club construction to be completed by late fall and open for business before the holidays. Also, Home Club is expected to occupy 100,000 square feet of space on this site. Englewood Parkway--The final construction of the Parkway is expected to be completed by June 1, 1986. Other--The URA officially put Brady in d~fault of the redevelopment agree- ment and will be issuing new RFP's for the portion of the redevelopment project that is south of Englewood Parkway. Mr. Hinson reported that his office has a list of 100 developers that have indicated an interest in this project. The schedule for having a new developer in place is expected to be late Fall. He noted that the Proposal requests that one half .of the retail construction and the hotel be included in Phase I. Little Dry Creek--It is expected that construction will begin on the portion of Little Dry Creek from Broadway east to Clarkson in October 1987 and be completed by January 1988. Other The City's sales tax revenues are considerably lower on a year to date basis than expected or budgeted. The City Council is looking at ways to reduce the budget by about $600,000. Mr. Whitney Ward, Lomas & Nettleton, commented on the importance of a redevelopers packet for creating additional interest in the area. This overview, he noted, is very valuable when a developer goes to a lender. He suggested that retail will do well in the area, based on demographics and the location of downtown Englewood. Other Mr. Oswald reported that sales of . Corona Co-Op are doing very well, with August to be the scheduled completion date for the building. As there was no further business, the meeting was adjourned at 12:58 PM. Respectfully submitted,