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HomeMy WebLinkAbout2005-05-18 EURA MINUTES• • ENGLEW OOD URBAN RENEWAL AU T H ORITY May 18, 2005 I. CALL TO ORDER The regular meeting (rescheduled) of the Englewood Urban Renewal Authority was called to order in the Community Development Conference Room of the Englewood Civic Center, Chair Bertoluzzi presiding. Present: Absent: Roth, Weddle, Gallardo, Rogers, Bertoluzzi Bums (with previous notice); Garrett Simpson, Executive Director/Executive Secretary Friatta, Alternate Member Also present: Senior Planner Harold J. Stitt Senior Planner Mark K. Graham II . APPROVAL OF MINUTES January 12, 2005 Chair Bertoluzzi called for consideration of the January 12 , 2005 Minutes. Rogers moved: Weddle seconded: The Minutes of January 12, 2005 be approved as written. The motion carried unanimously. III. ELECTION O F OFFICERS Chair Vice -Chair Designation of Executive Director/Executive Secretary Chair Bertoluzzi noted that the Annual Meeting in February had been cancelled and officers for 2005 need to be elected. Weddle moved: Rogers seconded: Eric Bertoluzzi be elected as Chair of the EURA; Don Roth be elected as Vice-Chair of the EURA; and Robert Simpson be designated as Executive Director/Executive Secretary of the EURA for 2005. The motion carried unanimously. IV . S O UTH AC O MA S TREET Development Update Chair Bertoluzzi asked Mr. Stitt to present the update. H:\GRO UP\BOARDS \URA \Minut es\Mi nut es 200 5\EURA 05-18-05.doc 1 • • Mr. Stitt reviewed the solicitation of proposals for development of the 3400 block of South Acoma Street (east side), and approximately 78 feet of frontage on South Broadway just south of Englewood Parkway. Mr. Stitt noted that the URA owns 28 feet of the South Broadway front- age, and the City of Englewood owns 50 feet abutting the URA ownership on the south. The URA is owner of the 3400 block of South Acoma Street, east side. Three firms responded to the latest RFP, which was advertised in late 2004; the review committee studied all three proposals, and chose two for further negotiation. The focus had been on new development along the north end of the block, creating a "street presence" along the Broadway and Englewood Parkway frontage. It became very evident that parking for any development , and accommodation of South Broadway merchants who use the east side of South Acoma Street for parking, was a ma- jor issue that must be addressed. Walker Parking Consultants was retained to study the parking issue in the downtown area . The initial report indicated that an additional 20,000 to 30,000 square feet of retail could be accommodated, and realignment of the existing parking lot could result in a net gain of 60 parking spaces . Because study of the parking issue required a consider- able length of time , the two firms selected for further negotiation were notified that the proposals would not be further considered at this time. In addition, an inquiry regarding development on the south end of the South Acoma Street site was received from Cinema Grill. Mr. Stitt stated that Cinema Grill representatives indicated they would be interested in the south end of South Acoma Street because of visibility from U.S. 285; the representative expressed desire for a 45 foot high sign to increase attraction of business from traffic on U.S. 285. The firm also wants a 20 foot ceiling height. This proposal would require 350 parking spaces to accommodate patrons of th e theater and restaurant; to meet the parking requirements of Cinema Grill would require construction of a parking structure . Mr. Stitt dis- played a schematic "plan" showing the theater complex at the south end of the block, retail de- velopment on the north end of the block, connected by a parking structure. Fa<;:ade treatment on the parking structure effectively disguises the multi-level parking structure. The parking struc- ture would be large enough to provide the required theater parking , as well as parking that could accommodate the Broadway businesses . Mr. Stitt stated that Walker Parking Consultants has been asked to view the parking requirements of the entire downtown area -not just for new development in the 3400 block. Consideration must also be given to ways to finance construction of the multi -level parking structure. Mr. Stitt stated that a variety of financing plans exist, one of which is Certificates of Participation (COP), which was used in financing redevelopment of the CityCenter. The COP method is not consid- ered a "long-term indebtedness", and therefore does not fall under the TABOR requirements. Mr. Bertoluzzi asked if it is being suggested that the City build the parking structure rather than requiring a developer to build the structure. Mr. Stitt stated that a developer interested in devel- oping only an "end-cap" of the block will not want to build a parking structure to accommodate more than his development. He further pointed out that the representative of Cinema Grill indi- cated that they are not interested in ownership of their development site; and the parking issue will have to be resolved before a firm commitment will be given by them. If a way can be found to pay for construction of the parking stmcture independent of a developer, businesses along Broadway can "buy into" the parking structure to secure parking spaces for their employees and/or clientele. Mr. Stitt cited businesses in Cherry Creek -for instance, the Tattered Cover Bookstore -that validates parking stubs if a parker/shopper purchases a book. The parking is H:\G ROU PIBOAR DS\URA \i\1 inutes\M in utes 2005 \EURA 05 -18 -05.doc 2 • • then free for the shopper. Mr. Stitt stated that to support the "health and well-being" of down- town Englewood, we need to do something to help the Broadway businesses . Ms. Rogers spoke in favor of live/work proposals. She stated that a live/work development in this block could change dynamics of the entire downtown area, and of the entire City. Ms. Rogers stated that she was very impressed with the schematic depiction of the parking structure. Discussion ensued. Mr. Stitt stated that a lot of density is needed for a developer to be willing to consider building a parking structure. He expressed the opinion that if we can get one large, new, development in downtown , it will stimulate a lot of activity throughout the area. Ms . Weddle asked if the COP financing could be done yet this year. Discussion ensued. Mr. Stitt noted that he understood the Cinema Grill is considering two locations for expansion, and that because of the parking issue the Acoma Street site would be second choice. Mr. Graham stated that discussions with Cinema Grill began seven or eight months ago, and they were looking to secure a site within 18 months . Mr. Graham agreed with Mr. Stitt's assessment that parking is a primary issue for downtown businesses, stating that there has been interest ex- pressed in the former Guys & Dolls Store, but they want assurance on parking availability, which the City cannot provide. Mr. Graham stated that the Community Development Department re- ceives inquiries from businesses interested in locating in Englewood on almost a daily basis. Many businesses or developers have expressed interest in a site that would allow ground-floor retail development with three or four floors of residential or office use above the retail. Mr. Gra- ham discussed the dilemma in try ing to determine equitability of cost of a parking structure for new businesses versus existing businesses. Staff has need for firm numbers to work with; Cin- ema Grill has supplied some numbers , but they are not "firm" at this point. Cinema Grill's esti- mate of 250 people per showing of a movie helped staff calculate parking, and food and ticket sales tax revenues . Mr. Graham commented that there are two or three other theater chains the City will market the site to; we will be looking for a developer of a cinema, and for the end-cap development along Englewood Parkway and the Broadway frontage . Mr. Graham commented that there is no de- mand for office space at the present time, but the demand for residential development has in- creased . Mr. Bertoluzz i asked, regarding the schematic plan, whether this is a brain-child of the City, or a proposal of a developer. Mr. Stitt stated it is primarily an idea created by the City and a consult- ing firm. The intent is to determine what the impact might be with a theater development on one end of the block, end-cap retail on the other end of the block, with a multi-level parking structure connecting the two . To soften the impact of the parking structure, fa;:ade improvements were added to disguise the typical parking structure appearance. Mr. Bertoluzzi asked if the sign height that Cinema Grill indicated they wanted would meet Code regulations. Mr. Stitt stated that it would not. Mr. Bertoluzzi asked if, when Mr. Stitt said the schematic proposal is a creation of the "city", did he mean the Community Development Department? Mr. Stitt responded affirmatively. H :\G ROU P\BO ARDS \U RA \Mi nu tes\M in utes 2005\EU RA 05-18-05.doc 3 • • Ms. Rogers asked if a new business located in downtown Englewood, but could not provide the required parking, would it be possible for them to "buy into" the parking structure if it were in place. Mr. Stitt stated that the required parking would have to be considered, as well as spaces that might be available; the "short-fall" of parking would then be determined and cost of buying in if space was available would be figured at that point. Ms. Rogers noted that lack of parking really limits how properties can be used. Ms. Rogers asked what the EURA can do to support the concept of the parking garage, and stated she would be happy to assist in any way possible. V. BATES STATION UPDATE Mr. Graham then provided an update on the Bates Light Rail Station. He stated that the property owners (Barton Brothers and Winslow Construction) are in negotiation to develop their proper- ties , and it is his understanding that Winslow is "taking the lead". The property owners have met with RTD representatives, and received written commitment for construction of the Bates Station in 2007/2008. The 2007 /2008 commitment on station construction will impact the City budget. Mr. Graham further discussed financial issues, such as what TIF revenues might be used for ; and possible assistance in relocation requests from property owners on the west side of South Gala- pago. He emphasi z ed that no relocation assistance was included in the Urban Renewal Plan that was written for the General Iron area, and if a request were to be made, we could not provide funds . Mr. Graham stated that a development "team" is in place , and Barton Brothers and Winslow Construction have professional personnel working with them on their proposal. Mr. Graham stated that the City has received nothing from the property owners , or from the development team . Mr. Graham reported that the City receives inquiries on a regular basis from developers interested in the general GIW area, and some have work/live proposals in mind. Mr. Graham advised the Authority that typically on work/live proposals, at least half the residential units must be sold before construction begins. He cautioned that development/redevelopment in this area could take years to accomplish . VI. LEGISLATION UPDATE Mr. Graham apologized that he had not had an opportunity to review the latest urban renewal legislation, but would bring the Authority up-to-date at the next meeting. VII. COMMISSIONER'S CHOICE Ms. Rogers reiterated her support of the schematic plan for South Acoma Street, and her offer to be of assistance. Mr. Stitt stated that the Authority will be kept informed regarding proposals and progress on the South Acoma Street site. Mr. Bertoluzzi questioned submission of EURA Minutes and packet materials to City Council. Recording Secretary Welty stated that Minutes are submitted to City Council following approval by the EURA; supporting packet materials are not forwarded to City Council. H :IG ROU P\BOA RDS I U RA \Min utes \Minutes 2005 \EURA 0 5-1 8 -05.doc 4 • • Mr. Graham stated that at the last couple of Alliance for Commerce in Englewood (ACE) meet- ings , the issue of Business Improvement Districts (BID) was discussed. There seems to be inter- est on the part of ACE members in forming a BID . ACE would take the lead in discussing for- mation of a BID with downtown property owners, and formation of a BID will have to be sup- ported by the downtown business community . BIDs are self-taxing, self-governing improvement districts focused on a specific downto wn "district". Mr. Stitt agreed that a BID could be of assistance providing funds for operation and maintenance of a parking structure , but not in financing initial construction . Mr. Stitt advised that a successful BID would require ACE and business community support . There being no further business brought before th e EURA , the meeting was declared adjourned . H:\GR OUP \BOARDS \URA\Mi n utes\Minutes 2005 \EURA 05-18 -05 .doc 5