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HomeMy WebLinkAbout2002-05-15 EURA MINUTES• ENGLEWOOD URBAN RENEWAL AUTHORITY May 15, 2002 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 Cen- ter, Chairperson Weddle presiding. Members present: Members late : Members absent: Staff present: Also present: Fish, Garrett, Roth, Bertoluzzi, Weddle Burns (previous notice given) Woodward (previous notice given) Alternate Member Wallace Senior Planner Mark Graham Chief Accountant Steve Dazzio Larry Fullerton, GIW Developer Ms . Weddle announced that she has received a request to re-order the agenda, and that the Financial Reports will be considered following approval of the minutes . • II. APPROVAL OF MINUTES February 13 , 200 2 • Chairperson Weddle stated that the Minutes of February 13 , 2002 are to be considered for approval. Bertoluzzi moved : Roth seconded : The Minutes of February 13, 2002 be approved as written . AYES : NAYS: ABSTAIN: ABSENT: Roth , Bertoluzzi, Fish , Weddle None Garrett Woodward, Burns The motion carried . Ill. FINANCIAL REPORTS Chief Accountant Dazzio A. Mr. Dazzio presented the Annual Financial Report (audit) for the Englewood Urban Renewal Authority. He po i nted out that property tax receivables have risen year to year, but sales tax receivables have not. Mr. Dazzio attributed the decrease in sales tax received in 2001 to the closure of Home Base, PharMor, and Office Depot within the last six months of 2001. H:IGROUPIBOARDS\URA\Min utes\Min utcs 2002\EURA 0 $-1 ~..02 .doc 1 • • • Mr. Dazzio briefly discussed the four-year history on mill levy and the impact on base valua- tion, total assessed valuation, and the net increment valuation of the Tax Increment Dis- tricts. Mr. Dazzio noted that the current outstanding debt has grown to $36, 184, 832. Mr. Dazzio pointed out that when the EURA defaulted in 1991, the trustee called all bonds due. When the bonds were called due, no delineation was made between principal and interest amounts outstanding, and interest continues to accrue on the total unpaid balance at the bond rates. Mr. Burns entered the meeting and took a seat with the Authority. Mr. Dazzio discussed expiration of the TIF. The Trustee, on behalf of the bondholders, had sued the City in 1997 seeking to force extension of the life of the TIF beyond the statutory 25 year limit until principal and interest on the bonds is paid in full. In 1999, the Court de- termined that extension of the TIF is not required. The TIF expiration is not firmly deter- mined at this time -possibly in 2007, or maybe as late as 2010. At the expiration of the TIF, the Authority will have to go to Court to ask that the bonds be "zeroed out", and reve- nues from the TIF district will revert to the City of Englewood. Mr. Bertoluzzi questioned the expiration date of the TIF, and whether this is the "end" of TIF. He stated that he had been given to understand that this is not the "end". Mr. Dazzio stated that the tax increment "district" will still be in effect, but the City will receive all reve- nues generated. Mr. Fish asked, with the decrease in sales tax revenues from business closures, is the re- payment of principle at risk. Mr. Dazzio stated that he could not provide an immediate an- swer, but would work up some figures and get the information back to the Authority. B. Mr. Dazzio discussed the monthly and yearly tax increment revenue comparison re- port. He again pointed out the increase in property tax revenues, and the decrease of sales tax revenues. Mr. Dazzio stated that tax revenues must reach the base levels before any increment can accrue to the Authority. Mr. Dazzio noted that a couple of new businesses will be locating in the TIF district which may provide some additional tax revenue. It was noted that a wheel/tire business located in District II had closed and relocated to Sheridan. The Authority thanked Mr. Dazzio for his presentation. He expressed his appreciation to the Authority for the re-order of the agenda. IV. GENERAL IRON WORKS H:\GROUP\BOARDS\URA\Minuta\Minuu:s 2002\EURA o~ I S~.doc 2 • • • Mr. Graham noted that Agenda Items on the MX-TSA Zone District and the Bates Station Development & Design Standards and Guidelines will be postponed until June 12, when Ms. Axelrad of Clarion Associates can be in attendance. The discussion this evening will center on the Traffic Impact Analysis prepared by Carter & Burgess. Mr. Graham asked that members keep in mind the Traffic Analysis is a "draft" re- port. Mr. Fullerton will also present an update on his proposed development. Mr. Graham stated that the Traffic Impact Analysis, and the zone district and design stan- dards information has been submitted to other boards and commissions for review and comment. The Planning Commission will have a study session on these issues on May 21 . Mr. Graham suggested that if the Authority wished to read through the documents, mark any passages or statements of concern and return them to staff they may do so. Mr. Graham stated that the Traffic Impact Analysis indicates that if traffic is allowed to dis- perse onto the existing street system, it can be handled. The only infrastructure improve- ment needed is the Dartmouth/Galapago/lnca Street intersection. Mr. Graham discussed the desire to protect the residential neighborhood from additional traffic, and improvement of Galapago Street from Dartmouth north to the GIW site, plus improvement of the Dart- mouth/Galapago/lnca intersection, would serve residents of the Fullerton development on the GIW site. Mr. Graham noted that a major issue with improvement of the intersection is the cost: the intersection is not within the urban renewal district, and therefore would not be eligible for funding through the Authority. Mr. Graham advised that it may be necessary to amend the blight study to include the area along the west side of South Galapago Street and the intersection to get the funding benefit. Mr. Graham acknowledged that the possi- ble amendment of the blight study may appear to some people like it's an "encroachment'' into the neighborhood, but the intent is to improve the intersection to protect the residen- tial neighborhood from increased traffic. City Council will have to give final approval on expansion of the blight study and the urban renewal district. Mr. Graham stated that intersection improvements have been narrowed to two alternatives: a 70° curvilinear intersection, or a "round-about''. Discussion ensued. Mr. Fish questioned traffic generation figures cited in the report. Mr. Garrett suggested that the figures are total traffic versus site-generated traffic. Additional discussion ensued. Mr. Roth noted that the report is based on existing traffic levels; he pointed out that traffic has increased probably 20% over the last 10 years and will continue to increase as population density in the metro area increases. Mr. Graham suggested that Carter-Burgess made as- sumptions on how much traffic can be handled on existing streets taking into consideration traffic speeds, lights, etc. Mr. Graham discussed traffic volume and movement at Santa Fe Drive and Dartmouth Avenue . The possibility of a grade separation at Santa Fe Drive and Dartmouth Avenue is on the project chart of the Colorado Department of Transportation (COOT); the state has determined that this intersection is a "choke-hold" for traffic movement. The grade separa- tion would be similar to the one at Santa Fe Drive and West Belleview Avenue. H:IGROUP\BOARDSI URA\Minutcs\Minutcs 2002\E URA OS-I S-02 .doc 3 • • • Mr. Graham stated that we are looking at everything -ranging from the limited impact of development of the Fullerton property to a redevelopment/build-out of the total 40 acre urban renewal district. The redevelopment/build-out could take 20 years to accomplish. Mr. Graham reiterated that the "good news" is we can handle a lot of traffic on the existing street system. The "bad news" is that the neighborhood will be impacted if the intersection improvements are not made. Mr. Graham pointed out the assumption in the report that there will be a substantial amount of transit use - a 30% reduction because of the proximity of light rail. Mr. Fullerton commented that any new development will create additional traffic. The vast majority of new traffic will avoid the existing residential neighborhood. The Dart- mouth/Galapago intersection will experience a lot of additional traffic, and will have to be improved. Mr. Fish asked if Mr. Fullerton felt the traffic generated by the new development will go through the area, or stop in the area. Mr. Fullerton reiterated that he felt there would be very little of the newly generated traffic in the residential neighborhood. Mr. Burns stated that one of the biggest concerns is truck traffic coming south through the residential neighborhood. Can the truck traffic be routed down Galapago? Discussion en- sued. Mr. Graham pointed out that traffic can only be displaced, not eliminated . Ms. Weddle asked about the increased traffic from and access to the RTD maintenance site. Mr. Graham stated that the maintenance facility will be running three shifts, and that employees will typically be ingressing and egressing on off-peak hours. He pointed out that there will be very little truck traffic to the RTD maintenance facility. He stated that this type of information will be used to determine engineering designs, determine costs, and provide budgeting information for capital outlay. The impact on residential uses on the west side of South Galapago Street with the redes- ign/improvement of that street was discussed. Mr. Graham stated that one house appears to be impacted with the 70° design. Relocation assistance was mentioned, and Mr. Gra- ham noted that this cannot be provided by the Authority because the residences along Ga- lapago Street are not in the urban renewal district. Further discussion ensued regarding the intersection improvements. Mr. Graham pointed out that if the round-about proposal is chosen, no homes on South Galapago Street would be impacted; however, the topography of the intersection does not lend itself to develop- ment of a round-about. Authority members expressed their concerns regarding a round- about at this intersection. Mr. Graham asked that members keep in mind the possible expansion of the urban renewal district, and the intersection improvement alternatives. He stated that these two items will be placed on the June 12 agenda for further discussion . H:IGROUPIBOAllDSIURA IMinutcs\M inutcs 2002\EURA OS. l 5-<l2.doc 4 • • • Mr. Graham then directed the attention of Authority members to the Utility map; the exist- ing water and sewer infrastructure are sufficient to handle the proposed redevelopment. The Bates Station "concept'' plan was then discussed. Mr. Fullerton displayed a perspective drawing of the proposed Bates Station area. He stated that he has always wanted the City plaza to be small and pedestrian friendly. He acknowledged he was not pleased when RTD said that a bridge was necessary to get from the station platform to the tracks. There is a large sewer easement that must be maintained, which precluded building the bridge over Bates Avenue. Mr. Fullerton indicated the proposed location of the bridge, and stated that in addition to steps up to the bridge, an elevator will also be provided. Mr. Fullerton briefly discussed the relocated Englewood Depot. Bicycle racks are proposed along the north of the structure, and a coffee shop, lockers for bicycle riders, a small com- munity room, and a sales center are considered within the depot itself. Mr. Graham commented that the Planning Commission has discussed many times the need to accommodate bicycle riders -pathway extensions, storage racks, etc. Mr. Graham commented that pedestrian bridges at Dartmouth Avenue, Hampden (U.S. 285) and Oxford Avenue should be considered. Mr. Burns asked about bus traffic to the Bates Station. Mr. Fullerton stated that RTD has stated that one route would serve the station; it would travel Yale up to Porter Medical complex. Mr. Burns asked about neighborhood parking problems. Mr. Graham stated that the neighborhood will probably have to have parking stickers and permits for residents. He stated that he understood parking permits were used in the neighborhood during the height of General Iron operations . Ms. Weddle asked if the bridge from the station platform to the track area would be en- closed. Mr. Graham stated he understood that RTD wants the bridge enclosed. Mr. Fuller- ton stated that he hoped to have something with a "mesh" type enclosure on the sides, and have it roofed. Mr. Graham stated that staff is receiving draft documents and wants to keep members of the Authority and the developer in the loop. He asked if staff is doing what the Authority expects of us, or has a step been missed along the way. He asked that members provide whatever guidance and feedback they would like. Mr. Fish commented that in his opinion, Galapago Street will become a major thorough- fare, and steps to mitigate the impact need to be taken. Mr. Fullerton stated that he antici- pated the greatest use of Galapago will be in the early morning rush hour and the evening rush hour -it will not be a 24-hour/day impact. ltlGROUPIBOARDS\URA IMinuteslMinutes 2002\EURA OS-I 5-<>2. doc 5 • • • Mr. Roth stated that he anticipates people trying to get south from Evans Avenue will find the improved Galapago route and intersection very "inviting". Mr. Fish stated that the im- provements will certainly improve the flow of traffic, but steps still need to be taken to miti- gate the impact. Mr. Fullerton stated that the real challenge is to make the development and traffic routes as pedestrian friendly as possible. Mr. Graham asked if anyone has driven by the GIW site recently. The structures are down; there are still a couple of things we are negotiating with RTD: the Gantry Crane, doors, pul- leys and hooks that are still on-site. He noted that even though the site is fenced, some pieces of old equipment have been moved off the site. Mr. Burns asked about the land value hearing. Mr. Graham stated that the valuation hear- ing is scheduled for October 12, at which time both sides present their case to a land valua- tion panel; this panel could decide immediately, or could delay rendering a decision for one year. A delay of this duration would not be good but legal counsel is of the opinion there were means to gain control of the land prior to the final determination. Mr. Fullerton commented that many members of the Authority have viewed some of his developments in the past; he invited them to an open house for St. Luke's Lofts on May 16th from 5:30 p.m. to 7:30 p.m. St. Luke's Lofts are located at 19 1h Avenue and Washington Street. He stated he looked forward to seeing members at the open house . Mr. Fullerton then excused himself from the meeting. V. LEGAL COUNSEL'S CHOICE No legal counsel was present. VI. COMMISSIONER'S CHOICE Mr. Garrett stated that he will not be in attendance at the June 12 meeting; he and his fam- ily will be on vacation. Nothing further was brought before the Authority for discussion. The meeting was declared adjourned at 7:30 p.m. Gertrude G. Welty, Recording Seer tary H:\GROUPIBOARDS\UllA \Minuta\Minutcs 2002\EUllA OS-15..02 .doc 6