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Home My WebLink AboutPACKET Town Board Study Session 2009-02-10TOWNBOARDTuesday,February10,20095:00p.m.to6:30p.m.Room2021203170MacGregorAve.AGENDA1.EPURAFutureProjects.2.Miscellaneous.NOTE:TheTownBoardreservestherighttoconsiderotherappropriateitemsnotavailableatthetimetheagendawasprepared.STUDYSESSION CynthiaDeatsFrom:EPAdministration[ir3045estes.orgJSent:Friday,February06,20099:12AMTo:CynthiaDeatsSubject:JobDoneNotice(Send)JobDoneNotice(Send)***JOBNO.1134ST.TIME02/0609:05PGS.1SENDDOCUMENTNAMETX/RXINCOMPLETETRANSACTIONOK6672527GregWhite5869561KEPL5869532TrailGazette5861691Channel86353677ReporterHerald2247899Coloradoan5771590EPNewsERROR1 EPURAFinancialResourcesandCommitmentsasofEndofJanuary,2009TheEstesParkUrbanRenewalAuthority(EPURA)isinitsfirstyearofitssecondquarter-century.Fundingconsistsofpropertytaxincrement,withabaseyearof2007.ThereisnosalestaxincrementallocatedtoEPURA.EPURAhasacashreserve,carriedoverfromitsfirstquarter-centuryofoperation.EPURA’sfinancialresourcesandcommitments,asacteduponbytheEPURABoardareasfollows:Cashreserve:$1,262,570ProjectedPropertyTaxIncrementtobecollectedin2009:$20,470ProjectsandFinancialCommitmentsapprovedbyEPURABoardasofJanuary30,2009:NottoexceedReimburselegalexpensesreParkTheaterMallRiverwalkProject-$1,500PilotFacadeImprovementGrantProgram-90,000ImprovementofpicnicareaatVisitorsCentersouthparkinglot-25,000RepairconcretelandingatTregentPark-10,000SidewalkbetweenStanleyHotelandMacGregorsidewalk-25,000Completionofhand-paintedtileworkinpedestriantunnel-5,000Downtownsignageimprovements-25,000ContributiontoCACEPandLocalRootsCo-opforimprovements-23,000Additionalrecyclingbinsindowntown-10,000Totalprojectcommitmentstodate:$214,500Remainingcashreserveavailableforprojects:$1,048,070OtherConsiderations:EPURAhasaseparateoperatingbudgetforadministration,whichisano-frillsallocationof$200,000annuallyfromtheTownthatfundsstaftlegalservices,someadditionalprofessionalservices,supplies,dataprocessing,catering,travel,supplies,telephone,insurance,auditing,bankservices,publicationcostsandthegeneralcostofdoingbusiness.InviewoftheVanHornlPesseslawsuit,itislikelythatlegalfeesmayexceedthebudgetedamountintheadministrationbudget,inwhichcasemonieswillhavetobetransferredfromtheprojectfundtoadministration.Thiswillreduceprojectfundingbythatamount.Thecostofthatlawsuitisbecomingnotinsignificant. FUTUREEPURAPROJECTS.Dir.SmithstatedthatEPURAhasapproximately$1.3milliontocommittoprojects,andaddedthat,basedonfiguresprovidebyFinanceOfficerMcFarland,approximately$20,000intaxincrementfinancing(TIF)willbereceivedbyEPURAduring2009.TheCommissionersdiscussedoptionsforfutureprojectsincluding:•ImprovementstoMoraineAvenue:Dir.ZurnreportedthataddressingcongestioninthisareaisahighpriorityfortheColoradoDepartmentofTransportation(CDOT)andcautionedthatduetothemanyunknownsrelatedtoCDOT’splans,improvementsalongMoraineAvenuemadepriortotheCDOTchangesmayresultintheimprovementsneedingtobechangedorredone.•BondPark:ModificationsfortheParkarebeingstudiedandwillincludethedevelopmentofaMasterPlanandpublicinput,afterwhichtimetheTownBoardwilldecidewhethertheywillmoveforwardwiththeproject.Preparationsforthisprojectmaytakeseveralyearstocomplete.•CleaveStreet:Considerationsinthisareawouldincludetransportationissuesandtrafficpafferns;parking;andhowchangeswouldaffectaffordablehousinginthearea.ApreliminaryestimateforimprovementsonCleaveStreetdoneapproximatelyfiveyearsagoputcostsataround$1million.•StanleyFairgrounds:cussionincludeda500-spaceparkinglotatanestimatedcostofapprimately$800,000to$1.2million;rebuildingthegrandstandsatanestimatedcostof$800,000;andbuildingmulti-usebarnstoencourageindooractivities,andneweventssuchasbusinessevents,hobbyshowsandrecreationalevents.Dir.PicketingstatedimprovementsatStanleyParkofferanopportunitytostimulatetheeconomyandexpandEstesPark’sshoulderseason,addingthataninvestmentmustbemadeinourproductifweexpectvisitorstocometoEstesPark.TrusteeEisenlauercommentedontheneedforcommunityconsensuswhenembarkingonalargeprojectandstatedthatsurveyresultsrelatedtoimprovementsatStanleyParkwerepositive.Dir.SmithstressedfocusingonaprojectthatwillbringadditionalrevenuetoEstesParkandincreaseTIE,andreachingconsensusbetweenEPURAandtheTownBoardastohowtoproceed.Itwasmovedandseconded(Blume/Martinsen)toscheduleajointstudysessionwithEPURAandtheTownBoardtodiscussassistingwithfundingimprovementsatStanleyPark,anditpassedunanimously. TaxIncrementbyYearWithinEstesParkUrbanRenewalAreaYearIncrementalSalesTaxIncrementalPropertyTax20072,822,330965,08720063,033,508858,80920053,042,776757,67320042,763,072671,45720032,694,320630,10320022,542,834588,74820012,694,320552,20120002,478,520496,65019992,377,959472,89219982,286,297394,67719971,865,420365,94819961,773,008335,85519951,671,997317,76219941,614,835291,53719931,344,354307,23819921,292,265307,63319911,129,088332,9021990834,649352,1511989637,375320,3031988682,736239,9711987550,028186,8971986368,429133,7631985212,28789,839198488,73272,4461983Total40,801,13910,042,542 TENTATIVESUMMARYRANKINGOFPOTENTIALEPURAPROJECTS c/)—‘:::=‘‘‘EvaluationWorksheetSuggestedEPURAProjectsEvaluationCriteriaAchievesorhelpsachieveaTownBoardgoalCuresoreliminatesblightMeasurablebenefit“Grows”thepropertytaxincrementAddressesanimmediateneedNumericalRating5Meetsallfiveevaluationcriteria4Meetsfourevaluationcriteria3Meetsthreeevaluationcriteria2MeetstwoevaluationcriteriaIMeetsonlyoneevaluationcriterion0MeetsnoneoftheevaluationcriteriafinancialResourcesEPURAhasabout$1,100,000thatcouldbeexpendedin2009,pluswhateverpropertytaxincrementaccruesandwhateverpossiblesalestaxincrementtheTownmightallocatetoEPURA.RatingInvestigatedesirability/feasibilityoffaçadeimprovementprogramEstimatedcost:Minimal,expenditureofstaffandEPURACommissionertime.7MasterplanandimprovementofBondParkwithPublicWorksEstimatedcost:Someproportionof$1,000,000.ExtendstreetscapedownMoraineAvenuetoDoughnutHouseIntersectionEstimatedcost:$2,000,000.\ReviseandimplementsignageplanEstimatedcost:$25,000forplan.$75,000forimplementation.PublicimprovementsrelatedtoElkhornLodgeDevelopmentEstimatedcost:Proposalwithdrawn.Unknown. v-2_\\ImprovementstoencouragerecyclingandbeautificationEstimatedcost:Tobedefinedanddetermined.7\AssistanceindevelopingCarriageHouseintoStanleyMuseumEstimatedcost:$400,00023AssistanceindevelopingaKingSoopersretailcomplexEstimatedcost:Tobedetermined.Acquiringthe“stables”propertyeastofStanleyVillageforredevelopmentEstimatedcost:$2,700,000(acquisitiononly)ArranginganULIcharetterefutureofEstesParkEstimatedcost:$120,000BasicQuestion:WitatshotctdEPURAbedoingintheimmediatefuture,consistentwithavaitabtefinancialresources? EvaluationWorksheetSuggestedEPURAProjectsEvaluationCriteriaAchievesorhelpsachieveaTownBoardgoalCuresoreliminatesblightMeasurablebenefit“Grows”thepropertytaxincrementAddressesanimmediateneedNumericalRating5Meetsallfiveevaluationcriteria4Meetsfourevaluationcriteria3Meetsthreeevaluationcriteria2Meetstwoevaluationcriteria1Meetsonlyoneevaluationcriterion0MeetsnoneoftheevaluationcriteriafinancialResourcesEPURAhasabout$1,100,000thatcouldbeexpendedin2009,pluswhateverpropertytaxincrementaccruesandwhateverpossiblesalestaxincrementtheTownmightallocatetoEPURA.RatingazInvestigatedesirability/feasibilityoffaçadeimprovementprogramEstimatedcost:Minimal,expenditureofstaffandEPURACommissionertime..LMasterplanandimprovementofBondParkwithPublicWorksEstimatedcost:Someproportionof$1,000,000.ExtendstreetscapedownMoraineAvenuetoDoughnutHouseIntersectionEstimatedcost:$2,000,000.3-ReviseandimplementsignageplanEstimatedcost:$25,000forplan.$75,000forimplementation.CPublicimprovementsrelatedtoElkhornLodgeDevelopmentEstimatedcost:Proposalwithdrawn.Unknown. ?3ImprovementstoencouragerecyclingandbeautificationEstimatedcost:Tobedefinedanddetermined.2%.AssistanceindevelopingCarriage1-louseintoStanleyMuseumEstimatedcost:$400,000AssistanceindevelopingaKingSoopersretailcomplexEstimatedcost:Tobedetermined.Acquiringthe“stables”propertyeastofStanleyVillageforredevelopmentEstimatedcost:$2,700,000(acquisitiononly)ArranginganULIcharetterefutureofEstesParkEstimatedcost:$120,000BasicQuestion:WitatshouldEPURAbedoinjintheimmediatefuture,consistentwithavailablefinancialresources? --‘EvaluationWorksheetSuggestedEPURAProjectsEvaluationCriteriaAchievesorhelpsachieveaTownBoardgoalCuresoreliminatesblightMeasurablebenefit“Grows”thepropertytaxincrementAddressesanimmediateneedNumericalRating5Meetsallfiveevaluationcriteria4Meetsfourevaluationcriteria3Meetsthreeevaluationcriteria2MeetstwoevaluationcriteriaIMeetsonlyoneevaluationcriterion0MeetsnoneoftheevaluationcriteriafinancialResourcesEPURAhasabout$1,100,000thatcouldbeexpendedin2009,pluswhateverpropertytaxincrementaccruesandwhateverpossiblesalestaxincrementtheTownmightallocatetoEPURA.Rating\c’Investigatedesirability/feasibilityoffaçadeimprovementprogramEstimatedcost:Minimal,expenditureofstaffandEPURACommissionertime.‘-:-\,MasterplanandimprovementofBondParkwithPublicWorksEstimatedcost:Someproportionof$l,000,000.jExtendstreetscapedownMoraineAvenuetoDoughnutHouseIntersectionEstimatedcost:$2,000,000.I‘—-ReviseandimplementsignageplanEstimatedcost:$25,000forplan.$75,000forimplementation.CPublicimprovementsrelatedtoElkhomLodgeDevelopmentEstimatedcost:Proposalwithdrawn.Unknown. ImprovementstoencouragerecyclingandbeautificationEstimatedcost:Tobedefinedanddetermined.AssistanceindevelopingCarriageHouseintoStanleyMuseumEstimatedcost:$400,0003359IAssistanceindevelopingaKingSoopersretailcomplexEstimatedcost:Tobedetermined.Acquiringthe“stables”propertyeastofStanleyVillageforredevelopmentEstimatedcost:$2,700,000(acquisitiononly)—3213‘2.ArranginganULIcharetterefutureofEstesParkEstimatedcost:$120,000BasicQuestion:WhatshouldEPURAbedoin!’littheimmediatefuture,consistentwithavailablefinancialresources?