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HomeMy WebLinkAbout1986-12-03 EURA MINUTESf • • • I. ENGLEWOOD URBAN REN EWAL AU THOR ITY DECEMBER 3, 1986 CALL TO ORDER/ROLL CALL. The regular meeting of the Englewood Urban Renewal Authority was called to order by Chairman Robert Voth at 5:40 P. M. Members present: Voth, Cole, Mcintyre, Totton, VanDyke Powers, Executive Director/Executive Secretary Members absent: Keena, Minnick, Daugherty Also present: Assistant Director Wm. Richard Hinson Legal Counsel Paul C. Benedetti Engineering Services Director Densel Ragland EDDA Executive Director Penny Dietrich Greg Thompson, City of Englewood Chamber of Commerce Mr. Voth welcomed Mr. Greg Thompson representing the City of Englewood Chamber of Commerce to the meeting. II. APPROVAL OF MINUTES. November 5, 1986 No vember 19, 1986 Mr. Voth stated that the Minutes of November 5, 1986 and November 19, 19 86, were to be considered for approval. VanDyke moved: Mcintyre seconded: The Minutes of November 5, 1986 and November 19, 1986, be approved as written . AYES: NAYS: ABSENT: ABSTAIN: Cole, Mcintyre, Totton, VanDyke, Voth None Keena, Minnick None The motion carried. III. KEY SAVINGS l LOAN. Ms. Powers stated that the Urban Renewal Authority needs to acquire the small warehouse to the west of the Key Savings building on West Hampden Avenue to complete the Little Dry Creek improvements. This acquisition has been dis- cussed with representatives of Key Savings and Loan, and it is time to proceed with the formal acquisition if construction on Little Dry Creek improvements is to begin this next year. Since the Urban Renewal Authority had the proper- ty appraised initially, there was a fire in the warehouse, and an update of the appraisal resulted in a reduction in valuation . Mr. Minnick entered and took his place with the members of the Authority. -1 - Ms. Powers stated that the Authority will not need to acquire the total prop- erty that was included in the appraisal, which will further reduce the amount • estimated for the acquisition. Ms. Powers stated that a resolution has been prepared which will authorize the negotiations for acquisition, and if the negotiations are not satisfactory, it will also authorize condemnation proceedings. Tatton moved: Cole seconded: The Urban Renewal Authority approve and adopt Resolution #18, Series of 1986, A RESOLUTION OF THE ENGLEWOOD URBAN RENEWAL AUTHORITY: ASSERTING THAT THE APPRAISED VALUE FOR 50 WEST HAMPDEN AVENUE IS THE FAIR MARKET VALUE OF THAT PROPERTY; DIRECTING STAFF TO USE SAID FAIR MARKET VALUE AS A BASIS OF NEGOTIATIONS TO ACQUIRE SAID PROPERTY; AND AU- THORIZING THE CONDEMNATION OF SAID PROPERTY SHOULD NEGOTIA- TIONS FAIL. City Manager Mccown entered the meeting. Mr. Hinson suggested that Resolution #18 be modified to include a section au- thorizing the Chairman and Executive Director to execute all future documents on the acquisition of the subject property. This proposal met with the ap- proval of Mr. Tatton and Mrs. Cole, and is to be included in the Resolution. AYES: NAYS: ABSENT: ABSTAIN: Mcintyre, Minnick, Tatton, VanDyke, Voth, Cole None Keena None The motion carried. IV. PENNANT PROPERTIES, INC./OSPREY/MADISON PIZZA/CYCLOPS CORPORATION Assignment and Assumption Agreements Ms. Powers reported on the closing for the sale of the property to Cyclops Corporation, Madison Pizza Corporation, and Home Club. Ms. Powers stated that the Assignment and Assumption Agreements which were previously discussed on November 19, have been approved and signed. Amendment #1 is the assignment from Osprey Development Corporation to Pennant Proper- ties, Inc.; and Amendments #2 and #3 are to Cyclops Corporation and Madison Pizza Corporation. Ms. Powers stated that Resolution #19, Series of 1986 has been prepared, which would ratify the action taken on the signing of all these documents, plus an encroachment agreement to permit Cyclops Corporation to use a portion of South Jason Street which will be vacated in the future, as a part of their construc- tion site. The City of Englewood and the Englewood Urban Renewal Authority have a Cooperative Agreement which grants to the Authority use of the streets until such time as they may be vacated. Minnick moved: Cole seconded: The Urban Renewal Authority approve and adopt Resolution #19, Series of 1986, A RESOLUTION OF THE ENGLEWOOD URBAN RENEWAL AUTHORITY FORMALLY RATIFYING PREVIOUS ACTIONS AU- THORIZED AND UNDERTAKEN BY THE AUTHORITY TO IMPLEMENT THE - 2 - • • • • • ENGLEWOOD DOWNTOWN REDEVELOPMENT PLAN, AND AUTHORIZING FUR- THER ACTION TO THIS END • AYES: NAYS: Mcintyre, Minnick, Totton, VanDyke, Voth, Cole None ABSENT: Keena ABSTAIN: None The motion carried. V. JBC PROPOSAL. Ms. Powers stated that a meeting with JBC and t he t he atre group representa - tives has been scheduled for December 4 at 3:30 P. M. The theatre group is very interested in the site, and will be coming in to view the property. They hope to make a decision within the next two weeks . Ci ty Manager Mccown is to call some people in El Paso, Texas, regarding the operation of this chain of theatres in that city. JBC is talking to First Interstate Bank in an attempt to work out an agreement for shared parking on the site after development. Ms. Powers reported on a conversation she had with Mr. Bell regarding the pos- sible write-down on the price of the land and the affect this would have on the bond issue. Ms. Powers suggested that if a decision has not been made on the theatre group and the financing for the total project by the time of the next regular meet- ing, that the Authority should consider taking formal action to place JBC In- vestment in default. Ms. VanDyke stated that in regard to her reservations about the theatre on the site, she would like to make sure that the theatre will be compatible with the housing to be developed on the remainder of the land. Ms. Cole asked if the parking for the housing development and the theatre will be shared. Ms. Powers stated that it will not be shared, and will be physi- cally separated. VI. RELOCATION REQUEST. Ivan's Tonsorium Mr. Hinson stated that Mr. Yost, proprietor of Ivan's Tonsorium, submitted a request for additional relocation benefits on November 17. Mr. Yost completed his move on June 6, and had until November 6 to submit all relocation claims to the Authority. Mr. Yost exceeded that deadline by 11 days. Mr. Hinson stated that in the past, the Authority has not extended the deadline for filing relocation requests, and asked how the Authority wanted to proceed on this request from Mr . Yost. Brief discussion ensued. Mcintyre moved: Cole seconded: Mr . John Yost was properly notified by the staff of the deadline to file relocation requests; this deadline was exceeded, and it is the determination of the Authority that there shall be no extension of that deadline and Mr. Yost's request for further relocation benefits will not be considered. -3 - AYES: NAYS: ABSENT: ABSTAIN: Minnick, Totton, VanDyke Voth, Cole, Mcintyre None Keena None The motion carried. VII. FINANCIAL REPORT. Expenditure Report Investment Report Ms. Powers reviewed the investment report from Managed Financial Services. Ms. Keena entered the meeting. Ms. Powers discussed the investment of the funds received in the closing with Osprey and Pennant Properties on November 26. These funds have been invested for 45 days with Empire Savings, and will then be transferred to Central Bank to call bonds. Ms. Powers then reviewed the Expenditure Report, and noted that the Inca Street project is basically completed. Bills are beginning to come in from Randall & Blake on Little Dry Creek Improvements. Floyd Avenue realignment is also basically completed. VIII. CONSTRUCTION REPORTS, • Director of Engineering Services Ragland stated that work is continuing on the • Englewood Sign on the north side of the Buyer's Club property; there have been some problems because of the weather, but it should be completed within the next couple of days. The Parks Department will do the landscaping on Floyd Avenue next Spring. Work on Little Dry Creek is behind schedule, but the contractor is putting on a second crew. Work will be starting at Sherman on the box culvert. Water lines will have to be done in Sherman Street and Clarkson Street before April, and the majority of the work will have to be completed before the spring run- off. IX. PROPERTY ACQUISITION. Ms. Powers discussed the need to acquire properties owned by Mr. Robert Vance, Mr. and Mrs. Charles Bell, and Ms. Joyce Hirsche on South Bannock Street. VanDyke moved: Cole seconded: AYES: NAYS: ABSENT: ABSTAIN: The Urban Renewal Authority go into Executive Session. Tatton, VanDyke, Voth, Cole, Keena, Mcintyre, Minnick None None None The motion carried. -4 - • • • • • * * * * * * * * * * Mr. Russ Hackstaff of Ross Investment Group arrived during the Executive Ses- sion and entered into the discussion with the Authority. * * * * * * * * * * Totton moved: Minnick seconded: The Urban Renewal Authority come out of Executive Session. AYES: NAYS: ABSENT: ABSTAIN: VanDyke, Voth, Cole, Keena, Mcintyre, Minnick, Totton None None None The motion carried. Mcintyre moved: Minnick seconded: The Urban Renewal Authority approve and adopt Resolution #20, Series of 1986, A RESOLUTION OF THE ENGLEWOOD URBAN RENEWAL AUTHORITY APPROVING THE ACQUISITION OF 3455 SOUTH BANNOCK STREET, ENGLEWOOD, COLORADO. AYES: NAYS: ABSENT: ABSTAIN: Voth, Cole, Keena, Mcintyre, Minnick, Totton, VanDyke None None None The motion carried. Minnick moved: Mcintyre seconded: The Urban Renewal Authority approve and adopt Resolution #21 Series of 1986, A RESOLUTION OF THE ENGLEWOOD URBAN RENEWAL AUTHORITY APPROVING THE ACQUISITION OF 3463 SOUTH BANNOCK STREET AND 211 WEST HAMPDEN AVENUE, ENGLEWOOD, COLORADO. AYES: NAYS: ABSENT: ABSTAIN: Cole, Keena, Mcintyre, Minnick, Totton, VanDyke, Voth None None None The motion carried. Totton moved: Mcintyre seconded: The Urban Renewal Authority approve and adopt Resolution #22, Series of 1986, A RESOLUTION OF THE ENGLEWOOD URBAN RENEWAL AUTHORITY APPROVING THE ACQUISITION OF 3485 SOUTH BANNOCK STREET, ENGLEWOOD, COLORADO. AYES: NAYS: ABSENT: ABSTAIN: Keena, Mcintyre, Minnick, Totton , VanDyke, Voth, Cole None None None - 5 - The motion carried. x. LAW SUIT UPDATE. Mr. Benedetti reported on the lawsuit with Mountain Bell, which has been scheduled to be heard in June, 1987. Mr. Voth stated that the City Council is to join the meeting at 7:00 P.M., and asked if there was anything further to come before the Authority. There being no further discussion, the meeting was adjourned at 7:00 P.M. The Englewood Urban Renewal Authority and Members of the Englewood City Coun- cil met in Executive Session following the adjournment of the regular Urban Renewal Authority meeting. - 6 - • • •