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HomeMy WebLinkAbout1988-07-06 EURA MINUTESENGLEWOOD URBAN RENEWAL AUTHORITY JULY 6, 1988 I. CALL TO ORDER. D R A F T The regular .meeting of the Englewood Urban Renewal Authority was called to order at 5:45 P.M. by Chairman Robert J. Voth. Members present: Mcintyre, Minnick, Totton, VanDyke, Byrne, Voth, Keena Hanson, Alternate Member Wm. R. Hinson, Executive Director/Executive Secretary Members absent: Cole Daugherty, Alternate Member Also present: Densel Ragland, Director of Engineering Services Richard Wanush, Director of Community Development Penny Dietrich, Executive Director of E. D. D. A. Ron Fish, Planning Commission Connie Daviet, Englewood Heritage Association Mr. Voth asked that everyone in attendance introduce themselves, and state their position with the City/Authority. II. APPROVAL OF MINUTES. June 1, 1988 Chairman Voth stated that the Minutes of June 1, 1988 were to be considered for approval. Minnick moved: Mcintyre seconded: The Minutes of June 1, 1988 be approved as written. The motion carried, with Ms. Keena abstaining inasmuch as she was absent on the date of that meeting. III. ENGLEWOOD HERITAGE ASSOCIATION Englewood Rendezvous Celebration 9 c ~ Mr. Hinson stated that Ms. Daviet is present to discuss a request from the Englewood Heritage Association to use EURA-owned property in conjunction with the "Englewood Rendezvous'' celebration August 25 -28. Ms. Daviet read into the record the request from the Englewood Heritage As- sociation to use EURA property. Activities proposed during the celebration include booth space along the 3400 block of South Acoma Street, use of the Plaza area for entertainment and a beer garden, Little Dry Creek Lake for fishing and the banks of the Creek for concessions and possible gold panning activities. A complete Mountainman Lodge and Indian Village will be located on open space in the Market Place and in the 3400 block of South Acoma Street. - 1 - The request is summarized as follows: 1) Permission to use the Little Dry Creek Plaza for a beer garden/ entertainment area. This would include locating the temporary stage owned by City Parks & Recreation within the Plaza area for use by bands and other entertainment. Written permission from URA for beer and wine sales in the Plaza is also required to comply with require- ments for gaining a special events permit from the City & State for that weekend. The Plaza area would be the only designated area for beer and wine sales and consumption will be restricted to that area. Security for the beer garden will be provided. In the event that permission for beer and wine sales is given, the Englewood Heritage Association would also require permission to post the area for ten days prior to August 3 to comply with the requirements of the liquor licensing authority. 2) Permission of URA owned property along the 3400 block of South Acoma for booths and Indian or Mountainman Villages. (Permission to ex- clude any area already predesignated for construction trailers, etc.) 3) Permission for use of Little Dry Creek walkway from Broadway West to Little Dry Creek Lake for placement of booths and concessions, if desirable and indicated, and permission for staging gold panning event in Little Dry Creek, if feasible. 4) Permission for the Colorado Division of Wildlife to stock Little Dry Creek Lake with fish and for the Englewood Heritage Association to sponsor a fishing contest event. 5) Permission for the placement of tables in Little Dry Creek Plaza for food consumption, resting and viewing entertainment on the days of August 26, 27, and 28. 6) Permission for access to power source located in Little Dry Creek Plaza for use by bands and other entertainment. 7) Permission for use of any other URA owned property in previously described area for placement of booths and concessions. The Englewood Heritage Association agrees to provide proof of liability in- surance coverage indemnifying EURA from all liability relating to the Rendez- vous, and the Heritage Association agrees to assume responsibility for trash pickup and clean-up of the area following the event. A similar written request has been forwarde d to the City of Englewood request- ing the use of City-owned property in the same area. Mr. Hinson stated that when EURA land has been used previously for activities such as the Farmer's Market or Christmas Tree sales, the primary concern of the Authority has been that of sufficient insurance coverage. Mr. Hinson pointed out that even if the Authority grants approval for use of the land, a license for sale of Beer and Wine can only be granted by the Liquor License Authority. Ms. Daviet emphasized the need for written permission to use the EURA owned property for the sale of the beer and wine beverages. - 2 - Mr. Totton asked the extent of the liability insurance. Ms. Daviet stated that the Englewood Heritage Association will obtain $1,000,000 in insurance coverage. Ms. Keena asked if the insurance coverage would include the sale of liquor. Ms. Daviet stated that it would. Ms. Keena pointed out that the Farmer's Market and Christmas Tree Sales lots were making use of ''vacant, unimproved" sites. She asked the impact the heavy pedestrian traffic would have on newly sodded areas along the banks of the Creek. Ms. Ragland stated that the grass would be brand new, and in all likelihood a great deal of it would have to be replaced. Ms. Keena suggested that the Authority should have an estimate on the cost to replace this sod that might be destroyed by pedestrian traffic. Ms. Keena asked about security for the developer's equipment that might be on the site. Ms. Ragland stated that the equipment should be moved out of the area by the time of the Rendezvous. Further discussion on the use of the banks of the Creek for fishing and/or gold panning ensued. Mr. Voth suggested that any motioh to grant approval be worded in such a manner to hold the Englewood Heritage Association liable for the replacement of any grass damaged or killed as a result of pedestrian traf- fic. He suggested that Ms. Daviet check with the insurance carrier to deter- mine if this might not be included in the policy. Stocking the Little Dry Creek Lake with fish was discussed briefly. Totton moved: Minnick seconded: The Englewood Urban Renewal Authority approve the request of the Englewood Heritage Association to use EURA owned property in conjunction with the Englewood Rendezvous Celebration August 25-28. Such approval is subject to the validation of insurance coverage, and the Englewood Heritage Association will be held liable for property damages that may occur as a result of the Celebration. AYES: NAYS: ABSTAIN: ABSENT: Totton, Voth, Keena, Minnick, Byrne None Mcintyre Cole The motion carried. IV. HANIFEN-IMHOFF REPORTS Bond Refunding Mr. Hinson stated that copies of two reports prepared by Hanifen-Imhoff for the City Council were included in the packets for the information of the mem- bers. These reports address the impact on the EURA if the 1/2 cent sales tax were to be removed. City Council also wanted to know what wduld be needed to pay the EURA bonds off early. The determination reached by Hanifen-lmhoff is that the 3.5% sales tax must stay in place, and that in order to refund the bonds there must be a commitment on the part of the City to "stand behind" the bonds. Right now, only EURA is obligated to pay back the bonds. Mr. Hinson stated that when discussion on possibly refunding the bonds first occurred last October, a food tax was identified as a source of additional revenue. Mr. Bell, of Prudential-Bache, will be discussing the Hanifen-Imhoff reports - 3 - further with Mr. Lyon of that company. Mr. Totten asked if an inflation factor was included in the reports by Hanifen-Imhoff. Mr. Hinson stated that an inflation factor had been included by Mr. Bell, but it was very conservative. Ms. Keena stated that she recalled the inflation factor was reduced from 6% to 3%. Mr. Totton stated that he did not think the Authority should be considering refinancing at this point in time, and pointed out that the EURA still has the vacant parcel on the east side of South Acoma Street available for redevelop- ment, and that the EURA needs to keep the option to secure additional funds for future development. Mr. Totten stated that he is optimistic about the Phar-Mor Plaza development, and stated that as he recalled, sales tax income · was not taken into account from this site at the time the projections were made inasmuch as the proposed development was not for retail use. Mr. Hinson stated that there were a number of things that would have to be done to refinance the bonds. These reports by Hanifen-Imhoff simply reaffirm that the Authority cannot refinance without a financial' commitment on the part of the City because the revenue stream is not sufficient at this point in time. Ms. VanDyke suggested that it is unlikely a refinancing would be under- taken for another year. V. FIRST INTERSTATE BANK OF ENGLEWOOD Land Trade -Resolution #11, 1988 Mr. Hinson stated that in 1984, the Englewood Urban Renewal Authority agreed to exchange part of property north of Floyd Avenue for property owned by the Bank that was needed for right-of-way for Englewood Parkway. The initial agreement had been to trade a portion of the parking lot north of Floyd, and lease the remainder of the parking lot to the Bank to replace the parking space that was lost when the right-of-way for the Parkway was acquired. It has been determined that additional right-of-way is needed in conjunction with the Girard/Cherokee/Parkway intersection, and this has been included in the latest proposed resolution. Northwest Mutual Insurance Company, which has a Deed of Trust on the land, has now approved this trading of land, the surveys and legal papers have been delivered to the Bank, and we are awaiting the signing of these papers to implement the actual land trade. Mr. Hinson re- quested Authority approval of the proposed Resolution. Minnick moved: Keena seconded: AYES: NAYS: ABSTAIN: ABSENT: Voth, None None Cole The Englewood Urban Renewal Authority approve and adopt Resolution #11, Series of 1988, A RESOLUTION OF THE ENGLE- WOOD URBAN RENEWAL AUTHORITY RATIFYING AN EXCHANGE OF LAND BETWEEN ITSELF AND THE FIRST INTERSTATE BANK OF ENGLEWOOD TO IMPLEMENT THE DOWNTOWN REDEVELOPMENT PLAN. Keena, Mcintyre, Minnick, Totton, Byrne The motion carried. - 4 - VI. JWM PROPERTIES, INC. Trolley Square Assignment & Assumption Agreement Mr. Hinson presented the latest copy of the CONSENT TO ASSIGNMENT AND ASSUMP- TION AGREEMENT whereby JWM Properties, Inc. will assume the duties and obliga- tions of S. Bud Brady and the Brady Development Corporation as outlined in the Agreement for Disposition and Redevelopment dated November 2, 1983. The City has negotiated a purchase price with JWM for the purchase of the City-owned land under .the King Sooper's at Trolley Square, so all reference to the Ground Lease has been eliminated from this Consent to Assignment document. JWM Prop- erties, Inc. will pay to the EURA the sum of $250,000 on the date of the transfer of the Deed to the land under the King Sooper's store. This payment to the EURA will be used for expenses assessed by the District Court in the EURA vs. Nathan Elinoff (Physical Whimsical). Mr. Hinson asked that the Au- thority consider this document for approval. Keena moved: Totton seconded: The Englewood Urban Renewal Authority approve the CONSENT TO ASSIGNMENT AND ASSUMPTION AGREEMENT with JWM Properties,. Inc. AYES: Voth, None None Cole Keena, Mcintyre, Minnick, Totton, Byrne NAYS: ABSTAIN: ABSENT: The motion carried. VII. STORM SEWER RELOCATION Phar-Mor Plaza Site Mr. Hinson discussed the relocation of the storm sewer on the Phar-Mor Plaza site, and stated that Neenan Company had been asked to submit a quote to do this relocation work. Neenan Company will be working on the site as a con- tractor engaged by Lincor. The cost of this work will be shared by the EURA and Lincor. Discussion ensued. Keena moved: Totton seconded: The Englewood Urban Renewal Authority accept the quote sub- mitted by Neenan Company for storm sewer relocation on the Phar-Mor Plaza site in the amount of $29,300.50. The Au- thority is responsible for payment of $15,631.00 of this amount, and the developer (Lincor Properties of Colorado) is responsible for the remaining $13,768.50. AYES: NAYS: ABSTAIN: ABSENT: Keena, Mcintyre, Minnick, Totton, Byrne, Voth None None Cole The motion carried. Mr. Hinson stated that in conjunction with the storm sewer relocation project, backfill compaction testing is required. Chen & Associates has submitted an -5 - estimate of $900.00 for this work, and staff recommends that this estimate be accepted. Keena moved: Minnick seconded: The Englewood Urban Renewal Authority approve the contract with Chen & Associates for backfill and compaction testing on the storm sewer relocation on the Phar-Mor Plaza site. This contract is not to exceed the $900.00 quoted in the proposal. AYES: Keena, None None Cole Mcintyre, Minnick, Totton, Voth, Byrne NAYS: ABSTAIN: ABSENT: The motion carried. VIII. FINANCIAL REPORTS Expenditure Report Investment Report 1987 Audit Mr. Hinson briefly reviewed the Expenditure and Investment Reports. The 1987 Audit was discussed. Mr. Tatton questioned the citation on page 3, which refers to Property held for Redevelopment (Note 4); he pointed out that Note 4 addresses "Long-Term Debt''. He felt this should be clarified. Discussion ensued. IX. CONSTRUCTION REPORT. Lillard & Clark RBI Ms. Ragland stated that work is continuing on the Lillard & Clark portion of the Little Dry Creek improvements. There is still a lot. of work to be done within the next two months to be ready for the Englewood Rendezvous Celebra- tion by the end of August, but she is confident that it can be accomplished. They are working on the pump station, and will begin installation of the fabridam about July 20th. Ms. Daugherty entered the meeting and took her chair with the members of the Authority. Ms. VanDyke asked how long it would take to fill the Lake. Ms. Ragland stated that she has been told that the Lake will fill within approximately 20 hours with a normal channel flow. Ms. VanDyke inquired about the pavers with the logo etched on them. Ms. Rag- 1 and stated that the paver bands in the pl aza are the same pavers used in the Parkway. The company from whom the original pavers were purchased did not feel they could make additional pavers, so another source is being investi- gated. Ms. VanDyke suggested that it might be nice if there could be small pavers with the logo on them to be handed out to specific invitees at the ded- ication ceremony. Ms. Hanson excused herself from the meeting at 6:45 P.M. - 6 - Mr. Totton asked about a solution to the overflow of the low-flow channel east of South Broadway. Ms. Ragland discussed possible means of resolving the siltation and overflow problem in this reach of the channel. She stated that she will investigate the cost of replacing part of the sod along the banks upstream with rip rap and grout. The placement of wood chips along the bank sides was discussed. Ms. Daugherty asked if a larger rock had been considered in lieu of the wood chips which are blowing away or sliding into the channel. Mr. Minnick suggested placement of chicken wire over the wood chips to hold them in place. Ms. Daugherty asked who is responsible for replacement of dead trees. Ms. Ragland stated that the trees have a one year warranty, and will be replaced by the contractor. Ms. Ragland stated that the trash cans will be arriving soon, and will be placed in time for the rendezvous celebration. Mr. Hinson stated that three claims have been made by property owners along the Creek for damages suffered during the RBI construction. These claims have been filed by Penn House Apartments, Sandalwood Apartments, and Key Savings & Loan. RBI's insurance company is dealing directly with the property owners to reach a resolution of the claims. Mr. Hinson stated that there are some sub- contractors who have filed claims against RBI for nonpayment, and checks are being cut payable to the sub-contractor and to RBI jointly. Additionally, project use tax must be paid to the City. Once these issues have been re- solved, RBI's retainage can be released. X. PROGRESS REPORTS Mr. Hinson stated that Lincor Properties of Colorado has to have the structure they are building for Phar-Mor turned over to Phar-Mor by the first of the year, and Phar-Mor estimates opening by the first of March. Mr. Hinson gave an update on the Englewood Marketplace, 'noting that the Chil- dren's Palace is scheduled to open in August. Ponderosa Restaurant is scheduled to open in mid-July. Opening dates for several of the other tenants were cited in August and September. Trolley Square improvements were discussed. Mr. Hinson stated that JWM was successful in their request for a variance to the Building Code before the Board of Adjustment and Appeals. Improvements estimated at $1,500,000 are proposed to this development. Mr. Hinson stated that he understood Anita's Coffee Shop has signed to move into the Parkway side of the Trolley Square, and JWM is said to be negotiating with another restaurant, also. XI. LAWSUIT UPDATE. Mr. Hinson stated that he had included a copy of the recent decision on the Denver vs. Mountain Bell lawsuit. He stated that this case appears to apply directly to the EURA/City/Mountain Bell suit. We are awaiting the decision of the Judge. -I - Mr. Hinson stated that the Court of Appeals dismissed the appeal in the Physi- cal Whimsical case because a final judgment had not been entered. However, by filing the appeal when we did, we ensured the right to appeal. There will be a hearing on the cost and distribution of award in August. Following the final judgment, a new appeal will be filed. XII. MISCELLANEOUS Mr. Hinson stated that the possibility of a plaque being placed on the Little Dry Creek Plaza during the dedication has been discussed. The wording of the plaque was discussed, as well as whose names should be on the plaque. Ms. VanDyke stated that she felt that only the names of EURA members, past and present, should be on the plaque. Mr. Hinson stated that he, Penny Dietrich, and Densel Ragland, have been meeting to plan the dedication ceremonies scheduled for August 26. The time has been scheduled from 10 A.M. to 12 Noon. Mementos to be handed out at the dedication have also been considered. Mr. Totton suggested that the dedication ceremony should be video taped, or that news channels be contacted to see if we could obtain a copy of their coverage of this event. Ms. Dietrich stated that Melody Music is moving back to Englewood, and will be occupying a store on the east side of the 3400 block of South Broadway. Ms. VanDyke stated that she has appreciated the opportunity to serve as a mem- ber of the Englewood Urban Renewal Authority and to be involved in the re- development of the downtown area. She stated that she has resigned her posi- tion with the Authority as the Council representative, and that Ms. Erica Byrne has been designated to serve as the Council representative. Ms. VanDyke stated that she would support the Authority in any way that she could. Mem- bers of the Authority expressed regret at Ms. VanDyke's resignation, and wel- comed Ms. Byrne to the Authority. The meeting adjourned at 7:15 P.M. -8 -