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Home My WebLink About1987-02-04 EURA MINUTES• • • CITY OF ENGLEWOOD URBAN RENEWAL AUTHORITY FEBRUARY 4, 1987 ANNUAL MEETING I. CALL TO ORDER. The Annual Meeting of the Englewood Urban Renewal Authority was called to or- der by Chairman Voth at 5:40 P. M. Members present: Totton, Voth, Keena, Mcintyre Powers, Executive Director/Executive Secretary Members absent: VanDyke, Cole, Minnick, Daugherty Also present: EURA Legal Counsel Paul Benedetti Assistant Director Wm. R. Hinson Director of Engineering Services Densel Ragland EDDA Executive Director Penny Dietrich City Manager Mccown II. ELECTION OF OFFICERS. Mr. Voth stated that the Chair would entertain nominations for the position of Chairman for the coming year. Totton moved: Keena seconded: Robert J. Voth be elected Chairman of the Englewood Urban Renewal Authority for 1987. There were no further nominations, and the vote was called. AYES: NAYS: ABSTAIN: ABSENT: Voth, Keena, Mcintyre, Totton None None VanDyke, Cole, Minnick The motion carried. Mr. Voth asked for nominations for the position of Vice-Chairman for the com- ing year. Mcintyre moved: Totton seconded: Mrs. Ruth Cole be elected Vice-Chairman of the Englewood Urban Renewal Authority for 1987. There were no further nominations, and the vote was called: AYES: NAYS: ABSTAIN: ABSENT: Voth, Keena, Mcintyre, Totton None None Cole, Minnick, VanDyke The motion carried . -1 - Mr. Voth asked for a motion designating Ms. Susan Powers as the Executive Director/Executive Secretary of the Authority. Mcintyre moved: Ms. Susan Powers be designated as the Executive Director/Executive Secretary of the Englewood Urban Renewal Authority for 1987. Keena seconded: AYES: NAYS: Keena, Mcintyre, Totton, Voth None ABSTAIN: None ABSENT: Cole, Minnick, VanDyke The motion carried. III. APPROVAL OF MINUTES. January 7, 1987 January 21, 1987 Chairman Voth stated that the Minutes of January 7, 1987 and January 21, 1987 were to be considered for approval. Totton moved: Mcintyre seconded: The Minutes of January 7, 1987 and January 21, 1987 be ap- proved as written. AYES: NAYS: ABSTAIN: ABSENT: Keena, Mcintyre, Totton, Voth None None Minnick, VanDyke, Cole The motion carried. * * * * * * * * * * It was moved, seconded, and carried that the Urban Renewal Authority go into Executive Session. Mr. Minnick entered the meeting during the Executive Session. It was moved, seconded, and carried that the Urban Renewal Authority come out of Executive Session. * * * * * * * * * * IV. JBC DEVELOPMENT CORPORATION Totton moved: Minnick seconded: The Urban Renewal Authority extend the period of negotia- tions with JBC Development Corporation for an additional 30 days, and authorize Executive Director Powers to proceed with said negotiations. - 2 - • • • • • • AYES: NAYS: ABSTAIN: ABSENT: Mcintyre, Minnick, None None VanDyke, Cole Totton, Voth, Keena The motion carried. V. ROSS INVESTMENT GROUP/TRAMMELL CROW Englewood Marketplace Associates, Ltd. Ms. Powers reviewed the Amendment No. 1, Assignment and Assumption Agreement between Ross Investment Group, Englewood Marketplace Associates, Ltd ., and the Englewood Urban Renewal Authority. This amendment would assign development rights of Ross Investment Group under the Agreement for Disposition and Re- development with the Urban Renewal Authority to the Englewood Marketplace As- sociates, Ltd. Ms . Powers pointed out some modifications in the schedule of performance. Ms. Daugherty entered the meeting at 6:30 P.M. Ms. Powers stated that the financial background information that was required has been submitted; this information has not been reviewed by Financial Con- sultant Steve Bell, however. Ms. Powers stated that Mr. Benedetti is review - ing the actual joint partnership agreement between Ross Investment Group and the Englewood Marketplace Associates, Ltd . Totton moved: Minnick seconded: The Urban Renewal Authority approve and adopt Resolution #3, Series of 1987, A RESOLUTION OF THE ENGLEWOOD URBAN RENEWAL AUTHORITY APPROVING THE ASSIGNMENT AND ASSUMPTION AGREEMENT BETWEEN ROSS INVESTMENT GROUP, ENGLEWOOD MARKET- PLACE ASSOCIATES, LTD., AND THE ENGLEWOOD URBAN RENEWAL AUTHORITY, with the proviso that the financial information submitted by Trammell Crow be reviewed and approved by Financial Consultant Steve Bell. AYES: NAYS: ABSTAIN : ABSENT: Minnick, None None VanDyke, Totton , Voth, Keena, Mcintyre Cole The motion carried. VI. BUYER'S CLUB LIQUOR LICENSE Resolution #2, Series of 1987 Ms. Powers stated that the Public Hearing on the application for a liquor license at the Buyer's Club store has been scheduled for February 18, 1987 . A proposed resolution of the Authority supporting the application for a liquor license has been prepared for the consideration of the Authority. This is basically the same resolution that was previously approved by the Authority on September 17, 1986 but has been updated to reflect Pennant Properties as the assignee . -3 - Mr. Mcintyre asked who authorized the proposed resolution, who "instigated" the resolution in support of this liquor license. Ms. Powers stated that the • resolution was written in compliance with Section 4.17 of the Agreement for Disposition and Redevelopment in which the Authority commits to support the application for a retail liquor license on the property. Chairman Voth stated that this is in compliance with a request from the redeveloper that was made when the Agreement was being drafted and approved. Keena moved: Minnick seconded: The Urban Renewal Authority approve and adopt Resolution #2, Series of 1987, A RESOLUTION OF THE ENGLEWOOD URBAN RENEWAL AUTHORITY SUPPORTING THE APPLICATION OF ELBERT L. BAGUS FOR A LIQUOR LICENSE AT 1090 WEST HAMPDEN AVENUE, ENGLEWOOD, COLORADO. AYES: NAYS: ABSTAIN: ABSENT: Tatton, Voth, Keena, Minnick None Mcintyre VanDyke, Cole The motion carried. Ms. Powers stated that she planned to attend the Public Hearing in support of the application, and stated that she would hope members of the Authority would also attend the Hearing in support of the application. VII. FINANCIAL REPORTS. Expenditure Report Investment Report Ms. Powers discussed the Financial Reports. Ms. Keena asked what the interest rate is on the loan with the First National Bank. Ms . Powers stated that it is 1.5% above prime. Mr. Benedetti excused himself from the meeting. Mr. Mcintyre left the meeting at 6:40 P.M. VIII. CONSTRUCTION REPORT. Ms . Ragland reported on construction progress on Little Dry Creek, citing some problems that have been experienced, and discussed the overall progress on the project. Ms. Ragland stat ed that testing procedures were contracted out to C. T. L. Thompson, and they have been conducting regular testing on soils , concrete, etc . Ms. Ragland stated that it appears now that there will be two separate bids on the construct i on of Litt l e Dry Creek in the downtown area. The first will go out to bid in March , and will hopefully begin construction in April. IX. OLD BUSINESS. Ms. Powers stated tha t Home Club construction is on schedule . - 4 - • • • • • • Ms. Powers stated that an architect from Dallas flew in to view the Trolley Square structures; they expect to have a report within two weeks on what may be needed to revamp the structures. Ms. Powers updated the Authority on attempts to acquire the property of Ms. Joyce Hirsche. The Authority was brought up-to-date on the Park Floral valuation hearing, which is scheduled for April, 1987. Ms. Powers stated that a Physical Whimsical Hearing is scheduled for May, 1987. Ms. Powers also reported on the Mountain Bell suit, which is also scheduled to be heard in May, 1987. The meeting was declared adjourned at 7:15 P.M. ~~~aid§; Gertrude G. Welty ' Recording Secretary - 5 -