HomeMy WebLinkAbout1988-06-01 EURA MINUTES•
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ENGLEWOOD URBAN RENEWAL A
JUNE 1, 1988
I. CALL TO ORDER.
The regular meeting of the Englewood Urban Renewal Authority was called to
order at 5:45 P. M. by Chairman Robert Voth.
Members present: Mcintyre, Minnick, Totton, VanDyke, Voth
Alternate Member Hanson
Executive Director/Executive Secretary Wm. R. Hinson .
Members absent: Cole, Keena
Alternate Member Daugherty
Also present: Peter H. Vargas, Acting City Manager
Densel Ragland, Director of Engineering Services
Penny Dietrich, Executive Director of EDDA
II. APPROVAL OF MINUTES
May 4, 1988
Chairman Voth stated that the Minutes of May 4, 1988 were to be considered for
approval .
Mcintyre moved:
Minnick seconded: The Minutes of May 4 , 1988 be approved as written.
AYES:
NAYS:
ABSTAIN:
ABSENT:
Mcintyre, Minnick, Totton, VanDyke, Voth
None
None
Cole, Keena
The motion carried.
III. RATIFICATION OF LINCOR CLOSING DOCUME NTS
Resolution #8, Series of 1988
Mr. Hinson stated that Lincor and the EURA closed on the sale of the old King
Sooper's block on May 18. Mr. Hinson stated that he wished to express his
appreciation to members of the Authority for their support and time devoted to
this project. He stated that in his opinion, the Authority will very soon see
some very positive results of these efforts on this block.
Mr. Hinson stated that in conjunction with the closing, there were three docu-
ments which First Interstate Bank required before they would approve the clos-
ing. The first of these is a revised Performance Schedule; the second is an
easement for the northwest corner of the site; and the third was the assign-
ment of the sign easement for the Englewood Parkway median. Mr. Hinson stated
that the Performance Schedule changes were approved by the Authority by tele-
phone polls. The other documents were previously authorized in concept to be
ratified by the Authority at a later date. He asked that the Authority now
ratify the three documents by approving Resolution #8, Series of 1988.
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AYES:
NAYS:
ABSTAIN:
ABSENT:
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Eng wood Urban Renewal Authority approve and adopt
Resolution #8, Series of 1988, A RESOLUTION OF THE ENGLE-
WOOD URBAN RENEWAL AUTHORITY TO RATIFY DOCUMENTS SUPPLEMEN-
TAL TO THE SALE OF THE OLD KING SOOPER'S SITE TO LINCOR
PROPERTIES OF COLORADO, INC.
Mcintyre, Minnick, Tatton, VanDyke, Voth
None
None
Keena, Cole
The motion carried.
IV. 1987 BUDGET AMENDMENT
Resolution #7, Series of 1988
Mr. Hinson presented a proposed Resolution #7, Series of 1988, which amends
the EURA Budget for 1987. Mr. Hinson pointed out that this does not increase
the amount of the budget, but merely allocates appropriated funds to the ac-
counts to which expenditures were charged.
Tatton moved:
Minnick seconded: The Englewood Urban Renewal Authority approve and adopt
Resolution #7, Series of 1988, A RESOLUTION OF THE ENGLE-
WOOD URBAN RENEWAL AUTHORITY AMENDING THE 1987 BUDGET.
AYES:
NAYS:
Mcintyre, Minnick, Tatton, VanDyke, Voth
None
ABSTAIN: None
ABSENT: Cole, Keena
The motion carried.
V. RELOCATION/STORAGE BENEFITS
Joyce Hirsche
Mr. Hinson stated that Mrs . Hirsche has submitted two bids for storage of
material and merchandise from her business located at 211 West Hampden Avenue,
and from her residential property at 3463 South Bannock Street. Mr. Hinson
discussed the efforts of the staff to get Mrs. Hirsche to submit bid estimates
with the required documentation for the storage of her belongings. Mr. Hinson
stated that the square footage required for the storage has been verified by
Mr. Stitt of the EURA staff, and the quoted storage costs have also been
verified. Mr. Hinson pointed out that the Relocation Handbook, while
delineating the eligibility for storage payments, does not set a maximum on
the amount of storage in terms of actual dollar value --only that the Au-
thority will pay for six months of storage. Mr. Hinson stated that this would
be the last relocation benefit Mrs. Hirsche is eligible to receive, the six
month period for filing requests having expired several months ago. Inasmuch
as the initial request for storage payment was filed in advance of that ex-
piration, however, the Authority is obligated to consider this request.
Discussion ensued.
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Minnick moved: ~
Mcintyre seconded: The EURA authorize payment of $13,578.00 to~'Mrs. irsche
for storage of materials and merchandise from her proper-
ties at 211 West Hampden Avenue and 3463 South Bannock
Street.
AYES:
NAYS:
Minnick, Tatton, VanDyke, Voth, Mcintyre
None
ABSTAIN: None
ABSENT: Cole, Keena
The motion carried.
VI. LOAN TO EURA FROM CITY OF ENGLEWOOD
Loan Note #R-2
Resolution #9, Series of 1988
Mr. Hinson stated that on May 2, 1988, City Council authorized the loaning of
an additional $170,000 to the EURA for the Cherokee intersection realignment
and administrative expenses. Mr. Hinson stated that Loan Note #R-2 has been
prepared, which obligates the Authority to repay the loan to the City, and
sets forth the mechanism for that loan repayment.
Mcintyre moved:
Tatton seconded: The EURA approve and adopt Resolution #9, Series of 1988, A
RESOLUTION OF THE ENGLEWOOD URBAN RENEWAL AUTHORITY TO IS-
SUE A PROMISSORY NOTE TO THE CITY OF ENGLEWOOD IN THE
AMOUNT OF $170,000.
AYES:
NAYS:
Tatton, VanDyke, Voth, Mcintyre, Minnick
None
ABSTAIN: None
ABSENT: Cole, Keena
The motion carried.
VI. FINANCIAL STATEMENTS
Expenditure Report
Investment Report
Mr. Hinson reviewed the financial statements, and noted that the Authority has
drawn down on the Reserve Fund for the first time to meet debt service pay-
ments. This drawdown amounted to approximately $800,000. Projections of
revenues prepared by Laventhol & Horwath anticipate further drawdowns from the
Reserve Fund of approximately $200,000 for the remainder of the year.
Mr. Tatton asked about the payment to the Authority from Arapahoe County on
the property tax increments. Mr. Hinson stated that these payments are
received on a monthly basis, as are the sales tax increments from the City.
Mr. Hinson stated that he will be compiling a report delineating these
revenues for the Authority's perusal in the near future .
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VII. CONSTRUCTION REPORT.
Lillard & Clark
Randall & Blake
Ms. Ragland reported that work on the Little Dry Creek project west of South
Broadway continues to progress well. There have been some disagreements with
the contractors working on the Trammell Crow project, but these have been re-
solved. The Bannock Street arbor may be ready for installation within the
next week or so. Ms. Ragland stated that the Fabridam is also ready for in-
stallation, but they are holding off until the debris is removed from the
Creek as a result of the rain storm in May. Ms. Ragland stated that she had
discussed the possibility of a formal dedication of the Little Dry Creek Proj-
ect with the representatives of Lillard & Clark, citing a possible date of
August 28, and they seemed to feel that the project would be completed by that
date.
Ms. Ragland stated that employees of RBI have been on the Little Dry Creek job
east of Broadway on a sporadic basis. The plantings which were winter-killed
have been replaced, and sod is being installed on the south side by the Deten-
tion Pond. Jefferson Drive east of South Logan Street has been paved. Ms.
Ragland discussed the effect of the May rainstorm on this portion of Little
Dry Creek, and noted that there was one washout upstream of U.S. 285. Ms.
Ragland stated that the storm washed a lot of debris and silt down into the
Creek, and that the City is working on clean-up of the channel.
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Discussion ensued. Mr. Minnick suggested that a lot of the silt and debris •
could have washed down the Creek from the vicinity of University Boulevard due
to construction occurring in that area of the Creek. Ms. Ragland suggested
that overall, the flood control measures taken by the City did work well
during the storm, and that we will be better prepared to handle future storms.
Mr. Minnick asked about the status of the flood insurance along Little Dry
Creek. Mr. Hinson stated that the City and Authority has received the "Letter
of Belief" from FEMA. Upon completion of the flood channel improvements, we
will send the "as built" information to the Federal Government before the map
will be revised. Ms. Ragland estimated that the "as built" information could
be available within three to six months.
VIII. LINCOR PROGRESS REPORT
Proportional Reduction in Deposit
Mr. Hinson stated that at the time of the closing on the old King Sooper's
block, Lincor increased their performance deposit from $50,000 to $100,000.
Discussion occurred at that time on the possibility of a reduction in this
deposit in proportion to the square footage for which a Certificate of Comple-
tion has been obtained. Mr. Hinson stated that a similar provision is in the
Agreement for Disposition and Redevelopment for the Trammell Crow site. The
request from Lincor is that the Authority amend the ADR to allow the reduction
of the deposit in proportion to the square footage for which a Certificate of
Completion may be issued.
Mr. Minnick asked if this could be done by motion, or if it should be by •
Resolution. Mr. Hinson stated that it could be done by motion, but if the
Authority preferred, a Resolution could be drafted. Mr. Minnick stated that
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he felt this action would be easier to "track" if it was to be done by
Resolution.
Minnick moved:
Mcintyre and
Totton seconded: The Urban Renewal Authority approve and adopt Resolution
#10, Series of 1988, A RESOLUTION OF THE ENGLEWOOD URBAN
RENEWAL AUTHORITY APPROVING A PROPORTIONAL REDUCTION IN
PERFORMANCE DEPOSIT FOR LINCOR PROPERTIES OF COLORADO,
INC.
AYES:
NAYS:
VanDyke, Voth, Mcin t yre, Minnick, Totton
None
ABSTAIN: None
ABSENT: Cole, Keena
The motion carried.
Mr. Hinson discussed the relocation of the Storm Sewer in the Old King
Sooper's Block. He stated that Neenan had been asked to submit a bid for the
relocation costs, but they were not able to submit such a bid prior to this
meeting. He stated that this information will be available at the next
meeting.
IX. ENGLEWOOD MARKETPLACE
Leasing Update
Mr . Hinson reported the names of several tenants that have signed leases in
the Marketplace, among them ITT Finance, So-Fro Fabrics, and Great Clips. Mr.
Hinson stated that it appears the leasing efforts of Trammell Crow are pro-
gressing very well.
X. TROLLEY SQUARE
Mr. Hinson requested that the Authority go into Executive Session for this
discussion.
Mcintyre moved:
Totton seconded : The Englewood Urban Renewal Authority go into Executive
Session.
AYES:
NAYS:
ABSTAIN:
ABSENT:
Voth, Mcintyre, Minnick, Totton, VanDyke
None
None
Cole, Keena
The motion carried.
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Ms. Daugherty entered the meeting.
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It was moved , seconded , and carried that the EURA come out of Executive
Session.
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XI. DEDICATION CEREMONIES
Little Dry Creek Plaza
Mr. Hinson stated that consideration is being given to holding dedication
ceremonies on August 26 for the Little Dry Creek project, and a Weekend Ren-
dezvous is also being planned for that weekend.
Ms. Dietrich stated that the Englewood Cultural Center is planning the weekend
festivities, and she understandings that they are working with the Lt. Gover-
nor's office on the project.
Mr. Hinson stated that Council Member Hathaway is heading the effort, and he
wanted to determine what the feelings of the Authority were on this proposal.
A cost of $1,000 for the rental of microphones, provision of coffee and rolls
or fruit has been estimated, and the suggestion has been made to share this
expense with the Englewood Downtown Development Authority. Discussion ensued.
Minnick moved:
Mcintyre seconded: The Authority approve the expenditure of up to $500 for
dedication ceremonies for the Little Dry Creek project.
AYES:
NAYS:
Mcintyre, Minnick, Totton, VanDyke, Voth
None
ABSTAIN: None
ABSENT: Keena, Cole
The motion carried.
XII. COURT CASE UPDATE
Mr. Hinson submitted copies of a letter from Legal Counsel Opperman to members
of the Authority, containing an update on pending legal cases in which the
Authority is involved.
XIII. MISCELLANEOUS
Mr. Hinson stated that he would be addressing the City Planning and Zoning
Commission at their meeting on June 21. He suggested that any members of the
Authority who wished to attend were welcome to do so. The meeting will begin
at 7:00 P.M.
There being no further business to come before the Authority, the meeting ad-
journed at 6:30 P. M.
G~~LNf-
Recording Secretary
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