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HomeMy WebLinkAbout1992-02-12 EDDA MINUTES• • RECORD OF PROCEEDINGS 100 Leaves FORM !tO C. F. HOECK EL B. 9 . It L. CO. ENGLEWOOD DOWNTOWN DEVELOPMENT AUTHORITY 3333 s. Bannock -Englewood, Colorado 00110 Members Present: Members Absent: Staff Present: Visitors/Guests: MINUTES February 12. 1992 Birdsall, Close, Hathaway, McElhinney, Oxman, Pendleton, Shepherd Green Celva, Persinger Linda Martin, Pam Pepper, Steve Collins, Terry Myhre The regular meeting of the Englewood Downtown Development Authority Board of Directors was called to order by Chairman Close at 12:10 p.m. Chairman Close welcomed everyone and asked the visitors to introduce themselves to the Board. Linda Martin stated she was the deputy city manager and also the acting community development director. Steve Collins, owner of PIP Printing in Englewood for 15 years, stated he was a board member elect and was excited to be at today's board meeting. Terry Myhre, Joslins manager, stated he was also a board member elect and was looking forward to being on the board. MINUTES Chairman Close asked for any comments from the Board concerning the Minutes dated January 8, 1992. B. Pendleton moved, seconded by G. Oxman to accept the Minutes as written. The motion passed by voice vote. L. Shepherd made a motion to amend the previously adopted October 1991 Minutes to reflect approval of the 1992 budget. The motion was seconded by G. Oxman, passed by voice vote. TREASURER'S REPORT G. Birdsall stated that our reported income of $178,000 is short $18,000 of the budgeted fi9ure of $196,000. G. Birdsall stated the shortfall is in the area of General Property Taxes. H. Celva stated the Board had previously received a memo regarding this matter and the fact that $15,000 of this shortfall generated from an incorrect revenue projection based on a recertification of valuation. Discussion ensued regarding certification and how they change our budgeted revenue figures. G. Birdsall continued his report by stating the expenses were down 51% due to the contractual • FORM 50 C. r . MOEC KEL B. B. 8: l. co. MINUTES February 12, 1992 Page Two • RECORD OF PROCEEDINGS 100 Leaves services being under budget because of the sign project not yet implemented, not as much advertising as planned, and the absence of an executive director. G. Birdsall noted the ending expenditure balance to be $152,000, leaving $146,000 of the expenditure budget not spent; with an ending total fund balance of $203,217. L. Shepherd moved, seconded by N. McElhinney to approve the Treasurer's Report. The motion passed by voice vote. CHAIRMAN'S REPORT Chairman Close asked the Board if they were still interested in planning a post-holiday EDDA party. Chairman Close note,d some ideas to be: the Teller House in Central City, Governor's Park for a comedy night, Woody's at the Englewood Golf Course, etc. Chairman Close asked for any comments. There were none. All were in favor of forgetting the post-holiday party at this time. G. Birdsall asked the Chairman for permission to discuss the new budget format, which was a topic overlooked under the Treasurer's Report. G. Birdsall explained the new format, which everyone had received copies of at the beginning of the meeting. H. Celva also added input regarding the new format. G. Birdsall asked H. Celva if the monthly treasurer's report would be prepared according to this same format. H. Celva stated that it would be with several modifications. B. Pendleton questioned the fax charges used by the EDDA of_fice. H. Celva mentioned the possibility of obtaining a fax machine for the office, since we are currently using the City of Englewood' machine. Discussion ensued regarding fax machines and costs. BQARD MEMBER'S CHOICE L. Shepherd discussed a proposal for an Englewood small Business Development Corporation Revolving Loan Fund and referred to a three-page summary included in the board's packets. L. Shepherd stated that there was strong support from the Greater Englewood Chamber of Commerce. L. Shepherd noted this was the first time he brought this proposal to the board, then explained the guidelines on this program. L. Shepherd also stated he felt this loan program would help the business community and asked for the EDDA's participation. Discussion ensued. B. Pendleton questioned whether the EDDA's charter would allow such participation and stated he felt there would be restrictions to our district. Discussion ensued on the state statute. R. Hathaway suggested talking with Rick DeWitt, city of Englewood attorney, regarding this matter. Chairman Close asked if a proposal could be made to the board regarding this loan program for further discussion, but L. Shepherd stated he was trying to obtain commitments for this loan program • FORM 50 C. F. HOECKE L B. a. a L. co. MINUTES February 12, 1992 Page Three • RECORD OF PROCEEDINGS 100 Leaves before proceeding further. N. McElhinney asked if a motion could be made based on interest from the board contingent upon legalities. Chairman Close asked for comments from the board. Further discussion ensued. Chairman Close positively stated he felt that involvement of this nature would place the EDDA in a different light other than special events and promotions. Chairman Close asked if the board wanted to have a motion regarding this proposal. L. Shepherd reiterated that he would appreciate the EDDA Board's strong commitment. N. McElhinney moved "to commit $50,000 to the formation of the Englewood Small Business Development Corporation and its Revolving Loan Program. This commitment is contingent upon the EDDA's approval of a formal plan of operation including a legal review, all of which will occur prior to the release of any programs." The motion was seconded by R. Hathaway; unanimously approved by the Board. Chairman Close asked for any other discussion. B. Pendleton stated the Affiliated Bank Shares of Colorado has agreed to be acquired by Banc One later this year and noted that Banc One has a very active community development corporation, which mainly focuses on low- income housing development. DIRECTOR'S REPORT sign Project H. Celva stated he would like approval from the Board to select a location and install the sign prototype along South Broadway. H. Celva also asked the Board to refer to the map of four location sites for four "welcome to downtown Englewood" signs and decide if those locations are what they envisioned. It was asked who decided upon these locations; it was answered that these sites were recommendations from the Century Signs. Discussion ensued regarding location sites for these welcoming signs, changing the EDDA boundaries, and placing these signs outside the current EDDA district boundaries. H. Celva stated that the EDDA's goal is to market this district, and also stated the need for a definable image in marketing the downtown area. Discussion proceeded regarding the coordination of City of Englewood signs, EDDA signs, and sign locations. H. Celva asked the Board if these welcome signs are "set in stone" or if there was a better, more effective way to spend the same kind of money involved. s. Collins inquired about the history of the sign project; N.McElhinney answered. H. Celva again asked the Board to review the location sites on the map and come to the March meeting with comments or alternatives. • FORJIII SCI C. F. HOEC KEL B. e. a L. co. MINUTES February 12, 1992 Page Four 1992 special Events RECORD OF PROCEEDINGS 100 Leaves H. Celva stated the 1992 direction would be for smaller events and changing some of the concert dates from Thursday evenings to possibly Saturdays to help tie in more with the merchant community. H. Celva stated he had a meeting with the spokesperson for the Muscular Dystrophy Society and discussed the possibility of the EDDA hosting their major fundraiser. H. Celva stated the date of late July or early August was being considered for this event. H. Celva also noted he would be meeting with Mindy Wallis, marketing director for Cinderella City Mall, regarding involvement with the mall. H. Celva referred to the concerts when stating he would like to keep four regular scheduled concerts, while changing the dates of the remaining ones. H. Celva stated the Tuileries Park Festival is competing with other events in that time same frame and referred to the Director's Report when stating he felt the EDDA should concentrate on other aspects in place of the festival. The use of volunteers by the EDDA was discussed briefly. H. Celva stated that would be a plus to work with the MS Society because of their volunteers, and also someone like the Listen Foundation. EDDA Member's Meeting H. Celva stated no date has been scheduled for this meeting thus far, so that the EDDA can present to the members positive items and upcoming events happening within the EDDA district. Urban Renewal Authority L. Martin reported that Harold Stitt, City of Englewood Neighborhood Services administrator, has been appointed the interim acting director for the URA. L. Martin stated that it was in hopes the Office Depot will help the situation for the URA. B. Pendleton asked how Best Buy was doing in Englewood. L. Martin stated it was too soon to tell. OTHER P. Pepper reminded the Board of the Englewood/Sheridan Business reception held that afternoon in the First Interstate Bank Building from 5:00 -6:00 p.m. P. Pepper noted this event was sponsored by the south Metro Chamber of Commerce. As there was no further business, Chairman Close adjourned the meeting at 1:51 p.m.