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Home My WebLink About2005-01-12 EURA MINUTES• • • I. CITY OF ENGLEWOOD URBAN RENEW AL AUTHORITY January 12, 2005 CALL TO ORDER The regular meeting of the Englewood Urban Renewal Authority was called to order at 6:30 p.m. by Chairman Bertoluzzi in the Community Development Conference Room of the Englewood Civic Center. Present: Absent: Staff: Weddle , Garrett , Bums , Roth, Gallardo, Rogers (late), Bertoluzzi Simpson, Executive Director/Executive Secretary None Senior Planner Graham II. APPROVAL OF MINUTES October 13 , 2004 The Minutes of October 13, 2004 were considered for approval. Roth moved: Gallardo seconded: The Minutes of October 13, 2004 be approved as written. The motion carried unanimously. III. EURA BUDGET 2005 Operating Budget 2005 Debt Service Budget Mr . Simpson reviewed the proposed general fund operating and debt service budgets for 2005 . He noted that inasmuch as the EURA has no revenue stream to cover operating expenses, these expenses have been taken from the Community Development budget in 2004, and the same is proposed to cover operating expenses in 2005. Ms . Rogers entered the meeting and was seated with the members of the Authority. Members of the Authority had a few questions regarding the budget, which were answered by Mr . Simpson. Chair Bertoluzzi called for a motion to approve the 2005 General Fund Operating Budget and the 2005 Debt Service Budget, as set forth in Resolution #1, Series of 2005 . H:\GRO UP\BOARDS \URA\Minutes\Minutes 2005 \EURA 01-12-05 .doc • • • Burns moved: Weddle seconded: The Englewood Urban Renewal Authority approves and adopts Resolution #1, Series of 2005 , titled: A RESOLUTION OF THE ENGLEWOOD URBAN RENEW AL AUTHORITY ADOPTING THE 2005 GENERAL FUND OPERA TING BUDGET AND THE 2005 DEBT SERVICE FUND BUDGET. AYES : NAYS : ABSTAIN: ABSENT: Rogers, Burns, Weddle, Garrett, Gallardo, Roth, Bertoluzzi None None None The motion carried. Chair Bertoluzzi and Executive Secretary Simpson signed Resolution #1 , Series of 2005 . IV. EURA DISTRICTS I AND II Status Report Mr. Simpson stated that this information is not available at this time; this issue was postponed to the February 9 , 2005 meeting . v . BA TES TRANSIT STATION Update Mr. Graham and Mr. Simpson provided a brief up-date on the status of the Bates Transit Station. Mr. Graham noted that the passage of the RTD FasTracks proposal in the 2004 November elec- tions included enhancements for the Southwest Corridor of light rail , and for Englewood specifi- cally an additional 440 parking spaces for the Englewood Station and the construction of the Bates Transit Station. The Bates Station is tentatively scheduled for 2007/2008 construction; however, this is subject to financial participation by the City and a developer. No developer is committed to the project at this time , and the City has not budgeted its 1/3 share. Ownership of the GIW site was discussed . Barton Brothers and RTD negotiated a resolution on the purchase price for the north portion of the site , and the south half of the former General Iron Works site then returned to control of Barton Brothers. They have indicated an interest in rede- velopment, but are not aggressively pursuing this avenue. Winslow Construction is also inter- ested in redevelopment ; they are involved in the development industry and are eager to proceed. The zoning of the site (both Barton Brothers and Winslow ownerships) is still industrial. Mr. Graham commented that to change the zoning from industrial to the TSA (Transit Station Area) zoning will require meetings with area property owners/residents, and public hearings before both the Planning Commission and the City Council -probably close to one year in time overall. Mr. Graham further noted that the Comprehensive Plan and the Bates Station Area Plan have es- tablished a foundation for the rezoning to the TSA district; typically, a developer would pursue the rezoning of the site , but the City could step forward and initiate the rezoning. H:\GRO UP\BO ARDS \U RA\M inut es\Minutes 2005 \EURA 01-12 -05 .doc 2 • • • Ms. Weddle asked if all previous work that had been done on the redevelopment effort was now null and void. Mr. Simpson stated that it is not; the basic groundwork is 95% completed, and the staff will continue to go forward until a developer is determined. Mr. Bums asked if Larry Fullerton was no longer in the picture as developer. Mr. Simpson stated that "no one has been ruled out'', but Mr. Fullerton is not under contract as developer at this time. Interest in the site from other development companies was briefly discussed. The historical efforts regarding the Bates Transit Station were discussed. Mr. Bums, Mr. Simp- son, and Mr. Garrett all provided clarification of negotiations with RID that resulted in that body's approval of the station construction. Mr. Bertoluzzi inquired about the McLellan Reservoir property, and the issue of a light rail sta- tion at that site. Mr. Garrett noted that the southwest corridor will ultimately terminate at the McLellan site. RTD does not know how much property they will need, and are in negotiations with the City regarding the McLellan property value and the Bates Station funding requirements. Mr. Simpson stated that Douglas County , which jurisdiction encompasses the McLellan site, has made it very clear that structured parking is expected at the transit station. Ms. Rogers commented that in other communities, and other countries, there are commercial op- portunities situated in close proximity to transit stations; commuters have the option to get off the train to buy a cup of coffee, or a newspaper, etc., and re-board the train for the remainder of the commute. She urged that consideration be given to the riders of the light rail. Mr. Graham noted that the TSA zone district does make provision for limited commercial use in close prox- imity to the transit station. Mr. Bertoluzzi asked about the legality of maintaining a business or a residential use on property that has been designated as "blighted". Mr. Simpson stated that it is legal. The "blight" designa- tion is a means to allow the URA to make infrastructure improvements, but does not change the status of an existing building. Mr. Graham noted that issues that could result in a "blight" desig- nation include lack of or poorly maintained sidewalks, paved streets, drainage problems, etc . Recent changes in eminent domain law was briefly discussed. It was noted that the City has made very limited use of eminent domain , primarily for transportation or park public use. Mr. Simpson stated that staff will endeavor to have additional information on the GIW site at the February meeting . VI. SCHEDULE OF MEETINGS Mr. Simpson stated that the February 9, 2005 meeting is the Annual Meeting of the EURA. Meetings are tentatively scheduled for March 9; June 8, September 14, and December 14 . H :\GRO UP\BOARDS\URAWinutes\Minutes 2005 \EURA 0 1-1 2-05 .doc 3 • • • VII. BACKGROUND INFORMATION EURA By-Laws State Statutes Mr. Simpson stated that copies of the EURA By-Laws and the current State Statutes were in- cluded in the packet for general information. VIII. LEGAL COUNSEL'S CHOICE No legal counsel was in attendance. IX. COMMISSIONER'S CHOICE Mr. Burns stated that he looks forward to proceeding with the redevelopment on the GIW site. Mr. Simpson noted that "redevelopment" is a very slow process, and can take quite a number of years to realize; however, there is a commitment to the Bates Transit Station, and this could as- sist redevelopment efforts in the area. Mr. Simpson noted that copies of a Denver Business Journal article will be included in the Feb- ruary packet -it is a story that covers Englewood TOD. Mr. Simpson commented that there has been interest in development at the Oxford Transit Sta- tion . There being nothing further to come before the Authority, the meeting was declared adjourned . J, J-,_A J dA7v-----· /r\.:::/ f-d //~_,; ~ <"- Gertrude G. Welty, Re~ording Secret y H:\G RO UP\BOARDS \U RA\Minut es\Mi nutes 2005\EURA 0 l-12-05.doc 4 • • • RESOLUTION #1 SERIES OF 2005 CITY OF ENGLEWOOD. COLORADO t:RBAN RENEWAL AUTHORITY A RESOLUTION OF THE ENGLE\VOOD URBAN RE~WAL AUTHORITY ADOPT- ING THE 2005 GE~ERAL FUND OPERA TING BUDGET AND THE 2005 DEBT SER- VICE FCND BUDGET. WHEREAS, the Englewood Urban Re!lewal Authority adopts a ge neral fund -:,iperating budget and a debt service fund budget on an annual basis; WHEREAS. the Engleviood Urban Renewal Authority is required to submit copies of adopted general fund operating and debt service fund budgets to the St ate of Colorado by Janu- ary 31 of every year; \YHEREAS. the Englewood Crban Rene"val Authority. having no other SOL!rce of reve- nue available, must rely on contributions from the City of Englewood to finance general fund operating expenses: ·WHEREAS. the Englewood Urba n Renewal Authority Debt Service Fund Budget reve- nues are derived from Tax Increment Financing on Property Taxes, Sales Taxes, and Tnrere st ac- crued in El'.RA District I and ELTRA Di strict II. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Englewood Urban Rene wal Authority, as follows: Section 1: Section 2: Section 3: 2005 General Fund Operating Budget Re venues 2005 General Fund Estimated Expenditure Excess Revenue over (under) Expenditures Fund Balance Beginning of Year Projected End of Year Balance: Section 4: 2005 Debt Service Fund Revenues (tota l estimatd) H:I GROUP\BOARDS IURA\Budge ts\2005 Budget Resolution.doc $5,500.00 $5,450.00 $ 50.00 $ 581.00 $ 631.00 $3,015,500. 1 • • • Section 5: 2005 Debt Service Fund Expenditures (total estimatd) $4,696,000. Section 6: Excess Revenue (under) Expenditures ($1,680,500.) Fund Balance (Deficit) End of Year ($44,413,593.) APPROVED AND ADOPTED this 12th day of January, 2005. AITEST: Robert Simpsonc::;::::::; Executive Director/Executive Secretary Motion by: __ T_o_rn_B_u_rn_s ______ _ Second by: Robin Weddle ~~ r Eric Bertoluzti,Cha~ In Favor: Rogers, Burns, Weddle, Garrett, Gallardo, Roth, Bertoluzzi In Opposition: __ N_o_n_e ___________________________ _ Abstaining : None Absent: H : .JROUPIBOARDS\URA\Budgets\2005 Budget Resolution .doc 2 • • • ENGLEWOOD URBAN RENEWAL AUTHORITY BUDGET -GENERAL FUND FOR THE YEAR ENDED DECEMBER 31, 2005 2004 2004 2003 Budget Estimated Actual As Adopted Actual FUND BALANCE · BEGINNING OF YEAR $ 761 $ 580 $ 58 1 REVENUES Interest 25 Other 5 ,000 4,500 Total revenues 5 ,025 4,500 EXPENDITURES Full time/Part time overtime 70 100 Soc ial security 5 Group Insurance General ott ice supplies 50 Postage 88 70 Photocopies 19 50 Ins ide/o utside printing 108 50 Food Auditing 2,500 2,500 Legal services 585 1,800 Other professional services 1,780 Memberships and Dues Total expenditures 5 ,205 4,570 EXCESS REVENUE OVER (UNDER) EXPENDITURES (180) (70) FUND BALANCE · END OF YEAR $ 581 $ 510 $ 581 2005 EURA Budgets .xis 2005 GF bud 2005 Budget (As Proposed) $ 581 5 ,500 5,500 100 200 100 50 3,000 2 ,000 5,450 50 $ 631 1/7/2005 10:22 AM • FUND BALANCE (DEFICIT)- BEGINNING OF YEAR REVENUES Property taxes Sales Taxes Interest Total revenues ENGLEWOOD URBAN RENEWAL AUTHORITY BUDGET -DEBT SERVICE FUND FOR THE YEAR ENDED DECEMBER 31, 2005 2004 2003 2004 Estimated Actual Budget Actual $ (38,519,091) $ (40,731,987) $(40,743,094) 998 ,640 1,000 ,000 1,379,338 1,035 ,578 920,000 1, 108 ,665 4,532 2,500 2.871 2,038,750 1,922,500 2,490,874 -EXPENDITURES Financ ial services 11,439 15,000 County Treasurer's collection fee 9,986 6,000 13,793 Legal services 1,989 50,000 80 Debt Service 4,239 ,339 4,600,000 4,467,000 Total expenditu res 4 ,262 ,7 53 4,671,000 4,480,874 EXCESS REVENUE (UNDER) EXPENDITURES (2 ,224,003) (2 , 7 48,500) (1,990,000) FUND BALANCE (DEFICIT)- END OF YEAR $ (40,743,094) $ {43,480,487) $(42,733.093) • 2005 EURA Budgets.xis 2005 OS bud 2005 Budget (As Proposed) $ (42,733,093) 1,904 ,000 1, 109,000 2,500 3 .015,500 15,000 31,000 50,000 4,600,000 4,696,000 (1,680,500) $ {44,413.593) 1f7/2005 10:22 AM