HomeMy WebLinkAboutMINUTES Town Board 1982-07-27U1i1fl Lii 1Z5IC 3Iih,tarimer County,Colorodo .7.19.?...
Minutes of a e.9I.1•r meeting of the Board of Trustees of the Town of Estes
Park,Larimer County,Colorado.Meeting held in the Town Hall in said Town of Estes Park
on the ...??.t1 day of A.D.19.8.2.at regular meeting
hour.
Meeting called to order by Mayor .TTgxt
Present:Mayor Harry B.Tregent Trustees:H.Bernerd Dannels,Byron
L.Graves,Margaret Houston,
George I.Hix,Richard A.
Wood,Robert E.Wagner
Also Present:Town Administrator
Dale G.Hill
Town Attorney,Gregory A.White
Absent:
Minutes of the regular meeting held July 13,1982,were submitted
and approved.
Trustee H.Bernerd Dannels introduced the following resolution and
moved it be passed and adopted:
RESOLUTION
OF THE BOARD OF THE TOWN OF ESTES PARK
ADOPTING INDUSTRIAL DEVELOPMENT REVENUE BOND
POLICIES AND GUIDELINES
WHEREAS,the Board of Trustees have reviewed various
policies and guidelines in conjunction with the Town issuing
Industrial Development Revenue Bonds;and
WHEREAS,the Town of Estes Park is committed to industrial
development in and around the Town coupled with sound financial
planning and direction;and
WHEREAS,these policies and guidelines from the basis for
various decisions affecting the issuance of Industrial Development
Revenue Bonds;and
WHEREAS,Board of Trustees wishes to formally adopt these
Industrial Development Revenue Bond Policies and Guidelines.
NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF TRUSTEES
OF THE TOWN OF ESTES PARK that the following Industrial Develop
ment Revenue Bond Policies and Guidelines be,and the same hereby
are adopted:
Board of Trustees -July 27,1982 —Page 2
I.Policy:
A.General.The Town of Estes Park desires to maintain a
reasonable level of economic growth and development in
the Town and within the boundaries of its Urban Growth
Area.To this end,one principal mechanism for imple
menting positive government action in concert with the
private sector is the use of Industrial Development
Revenue Bonds (IDRB)pursuant to County and Municipality
Development Revenue Bond Act,Title 29,Article 3 of the
Colorado Revised Statutes.
B.Endorsement of the Use of Industrial Development Revenue
Bonds.The Town of Estes Park endorses the concept of
positive local governmental action to stimulate balanced
economic development in close cooperation with private
institutions.This will include the discriminate use of
Industrial Development Revenue Bonds as one means available
to the Town of Estes Park to achieve these purposes.
C.Economic Competition.It is not the intent of the Town
of Estes Park,through the implementation of this policy,
to provide an economically competitive advantage to any
entity whether their purpose for existence be for profit
or non—profit.
II.Guidelines:
A.General.Guidelines set forth herein are not intended as
minimum requirements,and each application will be con
sidered on its individual merits.
B.Benefits to the Town.Generally,an IDRB proposal should
demonstrate one or more of the following economic benefits
to the Town.
1.Creation of additional jobs within Estes
Park and within the boundaries of its Urban
Growth Area.
Board of Trustees —July 27,1982 -Page 3
2.Increase of tax base resulting in a net
fiscal benefit to the Town.
3.Stimulation of additional business invest
ment.
4.Provide facilities or benefits to Estes
Park citizens for economic purposes in a
manner that compliments the Town’s own
programs or facilities.
C.Other Considerations.The Town will encourage the sub
mission of proposals that are consistent with the follow
ing general guidelines.
1.IDRE proposals should be consistent with
stated official policies and goals and
objectives of the Town of Estes Park.
It is the responsibility of the appli
cant to obtain such information from
the Town administration.
2.The Town of Estes Park will encourage
the submission of proposals that pro
vide for downtown revitalization,and
energy conservation.
D.Facilities and Programs.All facilities and programs that
may be financed under the Colorado statutes will be eligible
for consideration by the Town.Competitive impact resulting
from the facility or program will be considered and addressed
in approving an IDRB issue.
III.Financial Responsibility:Applicants for IDRB issues must
clearly demonstrate financial responsibility sufficient to
amortize the proposed bond issue.The plan for marketing
the IDRB’s will determine the general financial standards
used by the Town to evaluate the proposal.The marketing
plan for sale of the IDRB issue must be filed with the ap
plication and kept current through the closing of the IDRB
issue.
Board of Trustees -July 27,1982 -Page 4
A.Public Offering of Industrial Development Revenue Bonds.
The following financial criteria will be used as guide
lines for the participation of the Town in a public
offering of IDRB’s:
1.The financial statements of the applicant
should demonstrate sound financial position
and operating results.
2.And further,that the applicant should pre
sent financial projections of the proposed
project based on a marketing survey or a
feasibility study,where applicable.
B.Private Placement.
1.Description of private placement investor(s)
2.The debt to appraised value of the proposed
facility should not exceed 90%.Exceptions
to this guideline should be allowed where the
applicant presents special circumstances for
a higher debt to appraised value ratio.
C.Other General Economic Considerations.
1.Asset life span versus term of the bond
issue.
2.Management strength of applicant.
3.Minimum size of bond issues.
Generally,the Town will not consider an
IDRB issue of less than $750,000 unless
private placement has been pre—arranged.
4.Efforts toward public/private partnership
projects.
D.Reimbursement to the Town of all expenses.
Whether or not the proposed project is approved by the
Town of Estes Park and Industrial Revenue Bonds issued,
the proponent of the project will be required to reimburse
the Town of Estes Park for any and alL expenses incurred
as a result of the application for Industrial Development
Revenue Bonds.This reimbursement will include,but not
be limited to,the cost of time of all the personnel of
Board of Trustees -July 27,1982 -Page 5
the Town,the expense of bond counsel and such consultants
as the Town may employ to assist in the evaluation,and
all other expenses incurred by the Town related to the
proposal.
E.Fees charged by the Town for the Issuance of Industrial
Development Revenue Bonds.
If the proposed project is approved by the Town of Estes
Park and Industrial Development Revenue Bonds are issued,
a fee will be paid to the Town by the applicant.The
amount of said fee shall be the present value of the
amount to be derived from applying 1/16 of 1%to the
unpaid principal amount of the bonds at the end of each
bond year.This fee will be in addition to the reim
bursement of any and all expenses incurred by the Town.
Notwithstanding any provision contained herein,this
fee shall not exceed federal arbitrage regulations.
The fee will be paid to the Town at the time of official
closing on the sale of the bonds.
F.Monies Collected.
The monies collected as a result of the provisions of
Section III,paragraphs D and E above are to be used for
the encouragement of economic development within the
Town limits of the Town of Estes Park and including
any other area allowable under applicable laws and
regulations.
Trustee Byron L.Graves seconded the motion and it passed unanimously.
Mr.Seymour Graham,of Estes Village Properties;Mr.Frank Normali,owner of the Stanley Hotel;and Mr.Fred Fielder,Boettcher &Company,appeared before the Board of Trustees to explain the industrial developmentrevenuebondissuethattheyareproposingfortheStanleyHotel.Mr.Normali presented three copies of a formal request to the TownofEstesParktoissuethe$9,750,000 tax exempt revenue bonds,threecopiesofareplytotheproposedresolution“Adopting IndustrialDevelopmentRevenueBondPoliciesandGuidelines”,three copies oftheConfidentialMemorandum(Limited Partnership offering)and acheckintheamountof$1,000.00 as a deposit.Trustee H.BernerdDannelsmovedthatthematterbetableduntilAugust24,1982,inorderforthestafftoreviewtheproposal.Trustee Richard A.Wood
Board of Trustees -July 27,1982 -Page 6
seconded the motion and it passed by the following votes:Thosevoting“Yes”Trustees n.Bernerd Dannels,Byron L.Graves,GeorgeJ.Hix,Margaret Houston,Robert E.Wagner,and Richard A.Wood.Those voting “No”none.
The minutes of the Estes Park Planning Commission meeting held July20,1982,were read.
Mr.Todd Plummer,of Van Horn Engineering,appeared before the BoardtorequestapostponementoftheJonesSubdivisionlotsplitreviewuntiltheAugust10thBoardmeeting.The Board of Trustees approvedtherequest.fi
Mayor Harry B.Tregent conducted a public hearing on the proposedestablishmentofanEEstateZoningDistrict.Those speaking infavoroforoppositiontotheproposal,none.No Correspondencewasreceived.Mayor Harry B.Tregent declared the hearing closed.
Trustee Richard A.Wood introduced,and the Town Administrator readinfull,the following entitled ordinance:
AN ORDINANCE AMENDING CHAPTER 17 OF THE MUNICIPAL
CODE OF THE TOWN OF ESTES PARK,COLORADO,THE
SAME PERTAINING TO THE ESTATE DISTRICTS
Trustee George J.Hix seconded the motion and it passed by thefollowingvotes:Those voting “Yes”Trustees Richard A.Wood,H.Bernerd Dannels,Byron L.Graves,George J.Hix,Margaret Houston,Robert E.Wagner.Those voting “No1’none.Whereupon Mayor HarryB.Treqent declared said ordinance duly passed and adopted and ordereditnumbered#27-82.
Mr.Todd Plummer,of Van Horn Engineering,appeared before the BoardtorequestapostponementoftheJohnsonSubdivisionlotsplitreviewuntiltheAugust10thBoardmeeting.The Board of Trustees approvedtherequest.
flMr.Plummer,of Van Horn Engineering,requested a postponement of ]the Steele Subdivision final plat until the August 10th Board meeting.The Board of Trustees approved the request.
Mr.Mark Brown appeared before the Board to request an extension
of the sign code compliance date of August 24,1982,to December
31,1983.A discussion followed.Trustee H.Bernerd Dannels movedfordenialoftheextensionandTrusteeMargaretHoustonsecondedthemotion.Those voting “Yes”H.Bernerd Dannels,George J.Hix,Margaret Houston,Richard A.Wood.Those voting “No”Trustees GravesandWagner.
Trustee Robert E.Wagner introduced the following resolution andmoveditbepassedandadopted:
RESOLUTION
BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF ESTES
PARK,COLORADO:
That in compliance with Section 3.05.040 (2)of the Municipal
Code of the Town of Estes Park,Colorado,the percentage of rental
payments to be refunded to the elderly citizens shall be .455 (.455%)
of the rental payments made during 1981.
Trustee Byron L.Graves seconded the motion and it passed unanimously.
Trustee Margaret Houston introduced the following resolution andmoveditbepassedandadopted:
Board of Trustees -July 27,1982 -Page 7
RE SOLUT ION
WHEREAS,the Board of Trustees has determined that a
sidewalk,curb and gutter be constructed along the entire
frontage of 205 Virginia Drive;and
WHEREAS,pursuant to the provisions of Section 31-15-703(2),
C.R.S.1973,as amended,the Board hereby proposes to order the
construction of said sidewalk,curb and gutter to be done by the
owners of the adjacent property;and
WHEREAS,in the event that any owner does not construct
said sidewalk,curb and gutter after notice to said owner,the
Board has determined that the Town shall construct the same,
and assess the costs thereof against the property owner;and
WHEREAS,in the event of said assessment it shall be
collected pursuant to the provisions of Section 31—15-401 (1)(d)
and 31-15—704,C.R.S.1973,as amended;
HOW,THEREFORE,be it resolved by the Board of Trustees of
the Town of Estes Park that:
1.The Board of Trustees of the Town of Estes Park hereby
determines that it is necessary that a sidewalk,curb and gutter
be constructed along the entire frontage of 205 Virginia Drive.
2.The Board of Trustees hereby instructs the Town Clerk
to give notice to the property owners to construct said sidewalk,
curb and gutter.V
3.The Board of Trustees hereby finds that in the event
the property owner does not construct said sidewalk,curb and
gutter within 60 days of the sending of said notice that the
appropriate officials of the Town of Estes Park are hereby
empowered to construct said sidewalk,curb and gutter and that
following said construction,the costs shall be assessed against
the property owner adjacent to the construction of said sidewalk,
curb and gutter.
Trustee H.Bernerd Dannels seconded the motion and it passed by the
following votes:Those voting “Yes”H.Bernerd Dannels,Byron I.
Graves,George J.Hix,Margaret Houston,Robert E.Wagner.Those
voting “No”none.Trustee Richard A.Wood did not vote.
Trustee Robert Wagner moved the liquor license renewal for Heidi’s
Hideaway be approved.Trustee George Hix seconded the motion and
it passed unanimously.
Joyce Terhurne,of Terhurne—Mills Enterprises,appeared before the
Board to request they approve her liquor license change of ownership
and name change for “The Pub”.Town Administrator read the liquor
license application.Trustee Robert E.Wagner moved for approval
of the change of ownership and name change subject to Mrs.Terhurne’s
changing answer No.13 on her license application to “yes”.Trustee
H.Bernerd Dannels seconded the motion and it passed unanimously.
Ms.Miller Davis,representing the Muscular Dystrophy Association,
appeared before the Board to request the use of the parking lot in
front of the Elkhorn East Office building for a small carnival-like
attraction for the benefit of the Muscular Dystrophy Association
on September 5th and 6th.Trustee Margaret Houston moved for the
approval of the request.Trustee Richard A.Wood seconded the motion
and it passed unanimously.
Board of Trustees -July 27,1982 -Page 8
Trustee Robert E.Wagner moved that Town Engineer/Planner Richard
D.Widmer be appointed to the “Flood Hazard Mitigation Team”.Trustee
George J.Hix seconded the motion and it passed unanimously.
Trustee H.Bernerd Dannels moved that Dale Hill,Town Administrator,
be appointed as representative to coordinate on behalf of the Town
with the Federal and State disaster teams.Trustee Margaret Houston
seconded the motion and it passed unanimously.
Mayor Harry B.Tregent suggested that the Public Works Committee
be appointed to handle the proposed Civic Center at the Golf Course.
Trustee George J.Hix moved for the appointment of the Public Works
Committee and Richard A.Wood seconded the motion.Those voting
“Yes”Byron L.Graves,George J.Hix,Margaret Houston,Robert E.
Wagner,Richard A.Wood.Those voting “No”H.Bernerd Dannels.
There being no further business,the meeting adjourned.
Ma/
Town irk
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