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Home My WebLink About1994-01-11 EDDA MINUTES3333 South Bannock, Suite 480 Englewood, Co. 80110 MINUTES JANUARY 11, 1994 Members present: Close, Collins, Kientz, Oxman, Baird Members absent: Hathaway, Green, Kaufman, Oxman, Sanchez, Todd Staff present: Celva, Rognerud Guests/Visitors: Assistant City Manager, Chuck Reid Rita Hathaway 1. Introduction of Guests and Visitors. Chairman Close welcomed Reid, Hathaway, and Rognerud. Close introduced Rognerud as the new part-time assistant for EDDA. 2. Approval of Minutes Secretary, s. Collins inquired if there were any additions or corrections to the minutes for December 8, 1993. There being none, a motion was made, seconded and passed approving the minutes as presented. 3. Treasurer's Report None. 4. Director's Report Celva updated the current status on the Facade program. There are a total of 7 properties. One is completed, one is having a city permit problem, and others are in varied states of development. Celva reported that the Facade Program, for 1993, will be over budget by about $3,500.00. However, for the total budget, expenses should be approximately $15,000.00 less than anticipated. This will reflect in an increase to the beginning fund balance for 1994. ; MINUTES Page 2 January 11, 1994 Celva reflected that one property scheduled for renovation is on hold due to cash flow problems of the business owner. Since the property is prominant in the downtown district and since the renovations benefit the district, Celva requested that the EDDA Board approve accepting a note from the current business owner for his share of improvement costs contingent upon and while the business owner seeks the necessary funding. Additionally, the owner of the property would be requested to guarantee the note if a change of tenants should occur prior to the notes being redeemed. It was moved by Gordon Close, seconded by Ron Keintz and approved unanimously that contingent upon approval by the City Attorney, property owner, and business owner that EDDA accept a note from the business owner in the amount of $3,500.00 to the fund business owner's share of facade redevelopment costs. Chairman's Report Beginning in February the city of Englewood will be holding monthly meetings to update the businesses as well as the residents on the development in the Cinderella City area. Loren Shepherd presented his report on the Englewood Small Business Development Corporation. Seven loan applications had been submitted to the corporation. Three of these loans were approved, three were rejected and one loan is in process. He believes they had a successful year, however, he suggested that more publicity of this offering be known to the citizens and small business owners. He is leaving the board January 13, 1994. Gordon Close proposed that Harold Celva be considered as a paid staff to the ESBDC. Steve Collins questioned if this would present a conflict of interest for Celva. It was suggested that the idea be pursued with the city Attorney's office prior to being proposed to the new ESBDC board. Board members, who had attended the briefing on the city planning effort for the Cinderella City site were impressed by both the MAS and Klipp studies, felt that this was a positive step and that a great deal of potential for the site was demonstrated. It was suggested that the city should have shared this positive message sooner. It was also proposed that the businesses in Cinderella City be offered an incentive package to move their business somewhere within the Englewood City limits. Other businesses have done , MINUTES Page 3 January 12, 1994 this and are successful. Walgreens will break ground next month on the northeast corner of Dartmouth and Broadway replacing the location that existed in Cinderella city. Although Foley's still had a two year lease with Cinderella City, on January 10, 1994 they took out a Going Out Of Business permit. JC Penney's is now closing their doors at 5 p.m. There being no further business the meeting was adjourned. Respectfully submitted, Steven E. Collins Secretary • Zb EPLJA ENGLEWCX>D JX)WNTOWN DEVELOPMENT AUTHORITY, 3333 South Bannock, 1480, Englewood, Colorado 80110 1994 BUDGET JAN 1, 1994 BEGINNING FUND BALANCE $35,000.00 1992 SEPT. 93 1993 1994 Actual Y-T-D Budget Pro~osed REVENUES General Property Taxes $124,980.08 $126,164.23 $131,900.00 $124,000.00 Reserve for Refunds/Abatements $0.00 $0.00 ($10,000.00) ($10,000.00) Specific Ownership Taxes $11,718.56 $7,695.06 $10,000.00 $10,000.00 Penalties on Uncollected Taxes $724. 71 ($130.86) $100.00 $100.00 Interest Earnings $5,472.64 $1,411.86 $2,000.00 $1,500.00 Miscellaneous $8,138.45 $0.00 $101000.00 $10,000.00 TOTAL REVENUES $151,034.44 $135,140.01 $144,000.00 $135,600.00 TOTAL FUNDS AVAILABLE $170,600.00 EXPENDITURES ADKINISTRATIVE (80-80) Salaries $55,922.84 $31,005.45 $24,750.00 $24,750.00 social Security $4,353.64 $2,381.71 $1,855.00 $1,855.00 Health Insurance $3,751.20 $0 .00 $0.00 $0.00 Life/AD&D · $0.00 $140,00 $115.00 $130.00 Worker's Compensation Ins. $138.41 $126.00 $85.00 $85.00 Dental Insurance $477.72 $0.00 $100.00 $100.00 Long-Term Disability $312.48 $0.00 · $180.00 $180.00 Subtotal $64,956.29 $33,653.16 $27,085.00 $27,100.00 Commodities General Office supplies $1,151.30 $875.52 $1,000.00 $1,000.00 Books & Magazines $460.06 $118.00 $250.00 $150.00 Postage $210.91 $446.60 $2,000.00 $1,000.00 Fax $30.00 $18,72 $50.00 $50.00 Copy Machine/Copy Expense $106.02 $140.37 $200.00 $200.00 Printing $847.51 $242.24 $1,500.00 $500.00 Director Meeting Expenses $2,152.62 $1,046.40 $1,700.00 $1,500.00 Film, Processing $123.32 $0.00 $100.00 $100.00 Miscellaneous Expense $148.01 $44.13 $500.00 $250.00 Subtotal $5,229.75 $2,931.98 $7,300.00 $4,700.00 Contractual Services Auditing $750.00 $0.00 $800.00 $800.00 County Collection Fees $1,874.20 $1,226.28 $2,000.00 $1,300.00 Legal Services $0.00 $25.00 $0.00 $0.00 Other Technical & Professional $550.00 $187.30 $200.00 $200.00 .n-,,~::.:::." Travel & Conference $190 .06 $0.00 i:.$~00.00 $400.00 Registration $115.00 $0.00 $250.00 $250.00 Mileage $399.00 $176.00 $240.00 $0.00 Tuition & Training $599.00 . $0.00 $500.00 $500.00 Memberships & Dues $425.00 $585.00 $500.00 $500.00 Advertising ($2,868.45) $0.00 $500.00 $0.00 Telephone $1,432 .06 $937.18 $1,500.00 $1,350.00 Building Rental $5,739.78 $4,414.60 $5,500.00 $5,500.00 Office Equipment Rental $1,105.80 $1,544.78 $1,200.00 $1,500.00 Office Equipment Repair $157.50 $374.95 $200.00 $200.00 Aid to Other Agencies $3,750.00 $555.00 $1,000.00 $1,000.00 Insurance $720.00 $100.00 $750.00 $750.00 ~ . PAGE 2 OF 2 1994 BUDGET 1992 1993 1993 1994 Actual Y-T-D Budget Proposed Other Expenses $947.76 $345.24 $1,000.00 $500.00 Equipment Purchases ~11443.66 ~634.81 ~1,000.00 $500.00 Subtotal H7 1330.37 $111006.14 $17,540.00 $15,250.00 Total Adninistrative $87,516.41 $47,731.28 $51,925.00 $47,100.00 1992 Year-1993 1994 Actual To-Date Budget Proposed EXPENDITURES SPECIAL PROJECTS (80-01) Project Hanageaent $0.00 $2,767.54 $20,250.00 $20,250.00 Social Security $0.00 $213.25 $1,520.00 $1,520.00 Other Benefits ~0.00 $33.25 ~400.00 ~400.00 Subtotal $0.00 $3,014.04 $22,170.00 $22,170.00 Commodities Office Supplies $0.00 $585.98 $200.00 $350.00 Postage $897.98 $0.00 $200.00 $200.00 Printing $955.00 $1,588.70 $1,200.00 $2,000.00 Food-Vending $0.00 $0.00 $350.00 $0.00 Food -Meetings $881.13 $134. 71 $250.00 $250.00 Miscellaneous $440.58 $367.39 $150.00 $200.00 Prizes $3,115.84 $0.00 $1,800.00 $500.00 Signage & Decorations H,1438.95 ~0.00 $81000.00 H,000.00 Subtotal $18,729.48 $2,676.78 $12,150.00 $4,500.00 Contractual Services Consultant Fees $724.85 $0.00 $500.00 $2,000.00 Performers $47,925.00 $5,430.28 $4,000.00 $4,000.00 Other Technical & Professional $8,990.90 $0.00 $2,000.00 $1,000.00 Fees/Licenses/Permits $670.00 $0.00 $100.00 $100.00 Advertising $15,885.78 $19,440.09 $5,000.00 $5,000.00 Equipment Rental $2,943.28 $2,813.99 $2,500.00 $2,500.00 Insurance $1,413.74 $0.00 $100.00 $100.00 Sanitary Services $2,060.00 $732.00 $500.00 $800.00 Other Expenses ~11012.03 $11986.90 ~100.00 ~200.00 Subtotal $81,625.58 $30,403.26 $14,800.00 $15,700.00 . Other Prograns Signage Program $54,535.00 $0.00 $30,000.00 $0.00 Public-Private Grant Program $50,000.00 $0.00 $0.00 $0.00 Facade/Sign Revitalization $0.00 $13,548.37 $30,000.00 $40,000.00 ,l ,.. .. Staff $0.00 $0.00 $5.,500.00 S2QJ _OQO.OO. --.: .. New Prograns ~0.00 ~0.00 (::,, $0.00 ~0.00 Subtotal $104,535.00 $13,548.37 $65,500.00 $60,000.00 Total Special Projects $204,890.06 $49,642.45 $1 _14,620.00 $102,370.00 TCYrAL EXPENDITURES $292,406.47 $97.373.46 $166.545.00 $149,470.00 DECEMBER 31, 1994 ENDING FUND BALANCE $21,130.00