HomeMy WebLinkAbout2007-02-14 EURA MINUTES" '
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ENGLEWOOD URBAN RENEWAL AUTHORITY
February 14, 2007
I. CALL TO ORDER
The regular meeting of the Englewood Urban Renewal Authority was called to order at
6:30 p .m. in the Community Development Conference Room of the Englewood Civic
Center, Chair Bertoluzzi presiding.
Present:
Absent:
Staff:
Absent:
Eric Bertoluzzi, Don Roth , Jim Weeks, Anthony Gallardo
Jim Woodward, Liaison from City Council (e ntered 6:35)
Helstrom (excused), Weddle (excused), Rog ers (excused), Burns (excused)
Senior Planner Mark Graham
None
II. APPROVAL OF MINUTES
• November 8, 2006
Cha ir Bertoluzzi stated that the Minutes of November 8, 2006 were to be considered for
approval.
Roth moved:
Gallardo seconded: The Minutes of November 8, 2006 be approved as written.
AYES:
NAYS:
ABSTAIN:
ABSENT:
Bertoluzzi, Roth , Weeks, Ga ll ardo
None
No ne
Burns, Rogers, Weddle
The motion carried .
111. ELECTION OF OFFICERS
Roth moved:
Gallardo seconded: ERIC BERTOLUZZI REMAIN AS CHAIR FOR 2007
AYES:
NAYS:
ABSTAIN :
ABSENT:
Bertoluzzi, Roth , Weeks, Gallardo
None
None
None
The motion carr ied .
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Bertoluzzi moved:
Gallardo seconded: DON ROTH REMAIN AS VICE-CHAIR FOR 2007
AYES:
NAYS:
ABSTAIN :
ABSENT:
Bertoluzzi, Roth, Weeks, Gallardo
None
None
None
The motion carried.
I V. 2006 BU DET AMENDME NT
Mr. Graham gave a brief explanation of why an amendment and Resolution to the 2006
Budget was required . The Debt Service Budget has been for several years just adding to the
amount that falls short of being able to pay the bondholders so that it grows each year by
the excess revenue under expenditures. From 2006 Budget as amended the Authority fell
$2, 162,590 short of paying the bondholders. That increases the deficit that the Authority
owes the bondholders so the bottom line is a larger number. He stated 2007 is the final
year for this debt. In August 2007 the debt is extinguished. The allocation of revenues on
the URA property will be reassigned and the property tax revenue that has been paying the
bondholders will then go to Englewood, the county and the school district. 100% of the
sales tax will go to the City. The City Council will make the decision as to where that money
goes. Mr. Woodward stated it will go right into the General Fund as part of sales tax .
The State requires the Authority approve the budget each year and provide a copy to the
State.
Before voting the Chair asked the Secretary to re ad the Resolution .
Roth moved:
Weeks seconded: APPROVE THE RESOLUTION TO THE 2006 BUDGET
AYES:
NAYS:
ABSTAIN:
ABSENT:
Bertoluzzi, Roth , Weeks, Gallardo
None
None
None
The motion carried.
V. 2007 BUDGET APROV AL
Mr. Graham gave a brief review of the General Fund Budget. The Debt Service Fund
Budget was discussed under IV . 2006 Budget Amendment.
Roth move d:
Gallardo seconded: APPROVE THE 2007 DEBT SERVICE FUND BUDGET AND THE 2007
GENERAL FUND BUDGET
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AYES:
NAYS:
ABSTAIN:
ABSENT:
Bertoluzzi, Roth, Weeks, Gallardo
None
None
None
The motion carried.
VI. EXECUTIVE D I RECTOR'S CHOICE
Mr. Graham provided an update on the Acoma project. Negotiations continue with Studio
Completiva. They expect to get back to Staff in several weeks to let them know if they are
interested in moving forward with the Development Agreement.
Mr. Woodward asked if it was ever disclosed that Landon gave notice they were no longer
interested in doing the project. Mr. Graham stated he received a brief email and a phone
call from Mr. Landon when they decided to pull out of the project. They did not provide an
explanation of why they were withdrawing. Mr. Woodward did not know if Council was
made aware of that. Mr. Roth stated there wa.s an article in the Englewood Herald.
The Authority asked if anything was done regarding the request that URA made for City
Council to give favorable consideration for the under grounding of the utilities. Mr. Graham
said it was presented to City Council, but they did not take action on it. Staff was allowed
to meet with Xcel Energy, but the project would have to be taken back to Council for
approval ultimately. They can do the under grounding as part of the City's under grounding
fund, but the City does not want to do the project until they know what is going to locate
on the Acoma lot because they have to size the transformers accordingly.
VII. LEGAL COUNSEL'S CHOICE
Legal counsel was not present.
VIII. COMMISSIONER'S CHOICE
Chair Bertoluzzi welcomed Mr. Jim Weeks to the Authority and looked forward to having
him serve with the members. Mr. Weeks stated he appreciated the opportunity to be a part
of the Authority.
Chair Berto luzzi informed the other members that the Authority's former secretary,
Gertrude Welty, passed away . He asked that information regarding her services be passed
on the members.
There was no further business to come before the Authority; the meeting was declared
adjourned at 6:50 p.m ..
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