HomeMy WebLinkAboutMINUTES Town Board EVRPD Study Session 2001-08-13BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS
Town of Estes Park, Larimer County, Colorado, August 13, 2001
Minutes of a Regular meeting of the TOWN BOARD/EVRPD STUDY
SESSION of the Town of Estes Park, Larimer County, Colorado.
Meeting held in the Municipal Building in said Town of Estes Park on
13th day of August, 2001.
Town Board:
EVRPD Board:
Attending:
Also Attending:
Absent:
Mayor Baudek, Trustees Barker, Doylen, Gillette, Habecker,
Jeffrey-Clark, Newsom
Directors Asche, Czarnowski, Paglia, Shippy, Wilson
Mayor Baudek, Trustees Barker, Doylen, Gillette, Habecker,
Jeffrey-Clark, Newsom, Directors Shippy, Wilson, Asche
Town Administrator Widmer, Executive Director Gengler,
Town Attorney White, Deputy Town Clerk van Deutekom,
EVRPD Recording Secretary Leichner, Director Brandjord
Directors Czarnowski, Paglia
Mayor Baudek called the meeting to order at 7:05 p.m.
REVIEW STATUS OF PROPOSED MULTI-USE EVENT CENTER/ICE RINK
PROJECT:
1. Design Drawinas/Comouter Model/Cost Estimates. Town Administrator Widmer
introduced the Events Center/Ice Rink Project Design/Build Team consisting of
Roger Thorpe and Joe Kelvin/Thorpe Associates Architect, Andy Barnard/Sink
Combs Dethlefs, and Randy DeMario/RC Heath. Mr. Thorpe presented a brief
history of the project and updated the Trustees and Directors on the latest design
drawings, computer models, and project cost estimates. Other items discussed
include: location of building and site plan, existing paved parking, drainage issues,
building components, rink size, telescopic bleachers, building versatility, and future
phases.
The proposed cost is approximately $125 sq. ft. or a little over $6 million to
complete the Ice Rink portion. Provided the project is approved in November,
construction could begin as early as 2/02 and be completed by 12/02.
2. /^. Town Administrator Widmer and Executive Director Gengler presented the
IGA between the Town and EVRPD for the Design Phase of the project, outlining
construction of the project, construction financing, calculation of construction costs,
use of the facility, revenue, supervision and maintenance of the Event Center,
general expenses, insurance, termination of the Agreement, and relationship of the
parties.
3. Financing. Jim Manire/James Capital Advisors explained the financing plan for the
project.
Step One: The Town and the District will enter into an IGA to establish
the basis for sharing the costs of constructing and operating
the facility.
Step Two: The District will seek approval from the voters at the
November election for a property tax increase that will fund
its annual share of the costs.
Step Three: The Town will raise the $6.1 million for the facility by issuing
Certificates of Participation (COPs) with the cooperation of
the Building Authority.
BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS
Town Board/EVRPD Study Session - August 13, 2001 - Page 2
Because of deed restrictions at the site, the Events and Ice Arena Facility will not
be suitable collateral for the COPs. Instead, the Town will assemble a “pool” of
assets to serve as collateral and the Town Hall will be the primary asset in the
collateral pool. Other assets that are being evaluated for inclusion as collateral are
the Vehicle Maintenance Facility, the Senior Center, the Museum, and the
Chamber of Commerce building. The collateral will be held by the Building
Authority. The Town will make lease payments to the Building Authority for a
period of twenty years. The Town’s lease payments will be used by the Building
Authority to pay the principal and interest on the COPs. Depending on market
considerations, the COPs will either be offered to the public through a bond
underwriter, or will be privately placed with a bank.
4. Stanley Park Title Update. Town Attorney White updated the Trustees and
Directors on the F.O. Stanley, Stanley Development Company, and Manford
Family deeds and their respective restrictions. Town Attorney White explained that
financing for the project is not contingent upon the title work since the site will not
be used as collateral.
5. Conclusions/Next Steps. The Trustees and Directors agreed that the project would
enhance the community and offer economic opportunities to the business
community. Town Administrator Widmer and Executive Director Gengler were
instructed to review the IGA with their respective Boards and form a working
committee to assist in educating the public on the specifics of the proposed project.
The Rec. District will proceed with preparations for placing issue on the November
ballot.
There being no further business. Mayor Baudek adjourned the meeting at 8:30 p.m.
Rebecca van Deutekom, Deputy Town Clerk