HomeMy WebLinkAbout1990-04-26 EDDA MINUTESFORM 50 C. F. HOECKEL B. 8. 8: L. CO.
RECORD OF PROCEEDINGS
ENGLEWOOD DOWNTOWN DEVELOPMENT AUTHORITY
3333 South Bannock -Denver. Colorado 80110
MINUTES
SPECIAL MEETING
7:30 a.m.
APRIL 26, 1990
100 Leaves
MEMBERS PRESENT: G. Birdsall, A. Chavez, G. Close, D. Green, R. Hathaway,
G. Oxman, L. Shepherd, K. Steele, w. Tomooka
MEMBERS ABSENT:
STAFF PRESENT:
GUESTS:
B. Pendleton
P. Hayes, M. Miller
Bill Clayton, Englewood City Council; Rich Wanush,
Director of EURA
The special meeting of the Board of Directors was called for by Chairman
Tomooka to discuss the bond issue facing the Englewood Urban Renewal
Authority. Chairman Tomooka opened the discussion with comments regarding
t he negative publicity in numerous issues of the Denver Post. The main
thrust of his remarks were now, more than ever, the EDDA needs to focus on
strengthening internal operations and projecting the positive aspects of
Englewood through successful special events in an effort to lessen the impact
of the situation which has inadvertently had side effects on the City of
Englewood as well as the EDDA.
Alternatives for EURA were discussed with considerable input from Rich
Wanush, Director of the EURA, and City Council members, Rita Hathaway and
Bill Clayton. L. Shepherd commented that. those people who invested in the
bonds knew the risks at the onset, and that EURA is by no means the first to
be in a situation of possibly defaulting on bonds. Also in line with this B.
Clayton commented that projections are suspect in any given development or
redevelopment.
G. Close thanked Chairman Tomooka for arranging this meeting, and was pleased
the EDDA was taking serious interest in the matter at hand. G. Close also
commented on the negative pub licity in the Denver Post and suggested the
"best reaction might be no reaction."
Food taxation was presented as a possible option to generate revenue. R.
Hathaway commented that a taxation solution had already been discussed with
City Council. R. Hathaway and B. Clayton strongly agreed, and felt taxation
was not an option.
Discussion ensued and the meeting concluded with Chairman Tomooka thanking
the Board of Directors, Mr. Wanush and th~ visiting City Council members for
a ttending this special meeting. Chairman To1 ooka re· rated that the purpose
of this meeting was to brainstorm possible olutio s garding the EURA and
to enlighten all of the EDDA board members a tote cu rent EURA situation.
The meeting continued until 8:40 a.m. ·