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HomeMy WebLinkAboutMINUTES Estes Park Urban Renewal Authority 1984-05-02BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS Estes Park Urban Renewal Authority 'y/May 2, 1984 Commissioners: Attending: Also Attending: Absent: Chairman Charles H. Phares, Commissioners Larry Helmich, J. Donald Pauley, Edward B. Pohl, Dale G. Hill, Anne K. Moss, Arthur L. Anderson Chairman Phares, Commissioners Anderson, Moss, Pauley and Pohl Executive Director Barbara Cole, Secretary Heifner, Russ Caldwell, John Hanley, Greg Johnson, Fred Marienthal, Jim Windholz, Frank Normali and Bob Cheney Commissioners Helmich and Hill There were no corrections or additions to the April 18 minutes. They stand approved as read. CITIZEN PARTICIPATION: Bob Cheney, Manager of Upper Thompson Sanitation District expressed his concern about manholes involved in the streetscape project. He has not been contacted at all concerning their facilities out there. Chairman Phares stated that Design Studios West is the architect and NCE is the construction firm on the job. Bob said he thought he should have some input into this problem if their manholes are being raised. Cole requested Secretary Heifner to call Russell Moore and have Russell give Bob Cheney a call. Frank Normal!, owner of The Stanley Hotel, expressed concern over conflict of interest in that if asked to serve on the URA Board he could not because he is a property owner in the District. He feels abandoned and doesn't know if his interests are being properly represented, particularly with respect to development in front of a National Landmark. He feels badly that he has not been called by anyone on the URA Board for his comments or suggestions or had him involved in any way. He feels everyone in the room has conflicts of interest. He is also concerned about property owner's visual rights and scenic and corridor easements. Basically his main concern is a developer(s) coming in, insensitive to Estes Park's needs and being allowed to develop an area which may not be visually attractive to the other natural and man-made surroundings, specifically a building such as The Stanley Hotel, designated as a Landmark by the U. S. Department of the Interior. BILLS: Cole presented the following bills: Town of Estes Park: Tap Main Water Fountain (Badger Meter & Remote Readout) Health Insurance: Delta Dental for B. A. Cole D. J. Heifner Office Supplies: Autsy Business Center Estes Park Stereo (blank tapes) Pratt's Office Products Design Studios West: Construction Mgmt. Services 17.45 125.10 142.55 45.16 27.80 14.36 81.48 123.64 6,445.84 BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS Estes Park Urban Renewal Authority May 2, 1984 - Page Two Town of Estes Park; Time spent by Mike Mangelsen regarding Streetscape Project $ 2,603.63 TOTAL BILLS $ 9,360.82 Pohl suggested more discussion with the Town on Mangelsen's bill. Moss questioned Design Studios West bill. Cole said that this was the first payment. A motion was made and seconded (Anderson-Pauley) to pay the bills with the exception of the Mangelsen bill. COM^IUNICATIONS; Cole read a thank you from Donna Heifner, URA Secretary, for the planter given to her during National Secretary's Week. She reviewed a letter from the CDDA Board of Directors regarding the Annual Membership Meeting to be held at 9:00 a.m.. May 18, 1984 in Grand Junction. Cole has been nominated to the Board of Directors. Someone else on the URA Board may wish to go and the suggestion was made that Hill and Pohl (Special Assess­ ment District Committee) might possibly attend. Cole also read a letter to Richard Wood from Chairman Phares regarding control of an eight foot strip (pedestrian walkway) fronting each property owner's lot. Chairman Phares commented that he had received an invitation to attend a May 17 meeting of the Public Works Committee at 2:00 p.m. and that anyone wishing to attend with him would be welcome. A letter was read to Russell Moore from Cole with regard to the Chevron Station sidewalk issue. Chairman Phares said we might have more comment about this situation after the Public Works Committee Meeting. In the meantime, he said the work was progressing and it will be in place. OLD BUSINESS: Job Description: Pohl stated he would present this at the next Board Meeting for approval. NEW BUSINESS: Bond Issue: Russell Caldwell, Kirchner-Moore & Company, spoke to the Board regarding the Bond Issue. The closing is scheduled for May 3, 1984 at 10:00 a.m. Caldwell explained where we are at present with the bonds. He then introduced John Hanley who is new to Kirchner-Moore and working with their sales staff. Caldwell then introduced Greg Johnson and Fred Marienthal from Kutak, Rock & Huie, bond attorneys, who went over the bond documents. Each Board Member received a packet of these documents for their reference. Johnson explained Resolution 13 which is the URA Board's authorization anc^ approval for issuance of the bonds. The bond documents given to each Board Member are the Exhibits to Resolution 13. Pauley raised the question of why we should have to pay a premium to redeem bonds anytime. Caldwell stated that this is fairly standard among bond holders and Johnson stated the premium is low, around 3%, and felt Kirchner Moore had done a good job for the URA on premium rate. Windholz suggested the Board meet after lunch with the attorneys to go over any questions they might have regarding the bond documents. A motion was made and seconded (Pauley-Anderson) to suspend any rules that would prohibit final adoption of Resolution 13. Motion approved. BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS Estes Park Urban Renewal Authority May 2, 1984 - Page Three A motion was made and seconded (Moss-Pauley) that the Board adopt Resolution 13 (Authorization For The Issuance of $1,320,000 Aggregate Principal Amount of EPURA Tax Increment Bonds Series 1984) essentially as drafted with the proviso that the Board go over the documents for explanation and any changes. Motion approved. Windholz explained Resolution 14 (EPURA Cooperation Agreement With Town of Estes Park and Central Bank & Trust Company of Denver). Cole questioned calling in independent counsel should the Town and/or the Authority decide to amend the Plan. Who pays for the independent counsel each time the plan is amended? Windholz stated that Central Bank will not approve it until they get an opinion from bond counsel. Caldwell said the bondholders will want to know that each time the Plan is amended they don't want the Board or the Town to do anything in their power to dilute the ability to repay the bonds. Each time the plan is amended, bond counsel will have to take a look at it. Cole again questioned who pays for the independent counsel and Caldwell said "the Authority pays". "These are URA's bondholders and it would be the Authority's responsibility." Cole asked at what rate and Caldwell said he didn't know. Caldwell said that this would not be a major piece of work, i.e. BBC charged $500.00 to write a 3-page letter on the Tax Increment Rate and that is the kind of magnitude Caldwell would expect. Caldwell said he does not envision getting into a lot of time or cost with this issue and Kirchner-Moore would take a look at each amendment at no charge. Windholz stated that any independent attorney could be used, that he did not feel Central Bank & Trust would insist on a bond attorney, that we could shop around but most attorneys hourly rates begin at $125.00/hour and that time spent for something of this nature would probably entail around 5 hours. Caldwell said there will probably be some minor items in the Plan where we probably won't use a bond attorney at all. Chairman Phares indicated that this was a cost he had not anticipated but since it may occur down the line, he doesn't think there is any way it can be avoided as long as it is negotiated. Caldwell said he would work with the URA Board to make sure this is not a burdensome item and will spend time with the attorneys explaining the Board's view as your financial advisor. A motion was made and seconded (Pohl-Anderson) that Resolution 14 be adopted. Motion carried and resolution adopted. Traffic Circulation; Cole reported to the Board that she met with Dick Bauman on May 1 from Transplan Associates, Inc. He will be preparing a proposal for the Board's review with regard to alternatives for the one-way traffic circulation system. Cole asked the members of that committee (Anderson, Pauley and Widmer) if they could prepare a list for her of performance criteria in terms of what those alternatives should be. Cole needs to get this to Dick Bauman as soon as possible. If any of the other Board members have opinions with regard to the one-way traffic system, Mr. Bauman needs that information as soon as possible. Parking Analysis; Cole developed an 8-point parking analysis to be undertaken by Bob Josephs, Landscape Architect, which she read to the Board. Rate of compensation for Josephs would be $7.75/hour under a contract labor agreement which means that we would be paying him about $7.00 after social security and would pay him every 14 days. He would submit a bill every 14 days and we would have to pay him within ten days following receipt of the bill. If work in excess of 40 hours/week is requested by the Authority for a specific project, an overtime hourly rate which is acceptable to both parties shall be negotiated. Reimbursable expenses^ are basically the same as with Design Studios West. There is an additional retainer clause related to under 50 hours of work in a 2-week period. Cole and Windholz will meet with Josephs to review the contract and report on it at the next Board meeting. BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS Estes Park Urban Renewal Authority May 2, 1984 - Page Four Resolution 15; Cole read the Resolution and motion was made and seconded (Pauley-Moss) that Resolution 15 (A Resolution of The Estes Park Urban Renewal Authority Approving an Agreement With Ruth Watson for the Purchase of Real Property) be adopted. Motion approved. Tim Asbury asked if there was a dollar amount agreed upon and what it was. Chairman Phares stated that the dollar amount was $79,500. Planning Commission Liaison; Moss introduced Steve Komito, liaison from the Planning Commission to the URA. Streetscape Construction Committee; Anderson stated that weather permitting, the mason should have all the bricks down on West Elkhorn in 2 weeks. Lightpole bases on south side will be put in this afternoon or tomorrow. Tree grates will be in possibly by Friday, May 4 and medallions completed the end of this week or next week. Traffic will be open Saturday and open permanently from this point on. The street might have to be closed sometime next week for a day as curbing is poured in front of Grandpa's and in that area. They will be working this Saturday. If good weather prevails, the south side is tentatively scheduled for completion at the end of May or first of June, except for the area in front of Grandpa's which may take an extra week. Cole reiterated that one-way traffic would be open this weekend and from then on. Anderson stated that it might have to be closed from time to time for work to be done. Cole said that if anybody had any questions to call Bob Ault because he is the person responsible for closing the street if safety problems arise. Cole read a memo to the URA Board from Cole regarding concern over the color of the light source on the new streetlights. It is Cole's recommenda­ tion that we keep the high-pressure sodium light decided by the Board at the end of 1983. Anderson stated that the merchants are concerned about what the lights are going to look like. Light from their own stores will be a major factor more than the color of the streetlights. Motion was made and seconded (Pohl-Pauley) that we continue with the lights that are on order. Moss questioned that if we went with a 20" globe would we have to order all new lamps. Cole said we would have to order new globes if we went to a different light source. Changing the light source would result in a 40% increase in material cost and less energy efficiency. Motion approved. Confluence Park Committee Report; Moss received a letter from Stanley Anderson, Vice-President, Acquisitions Colorado Capital Management, Inc. The letter refers to confluence park development. Colorado Capital Management believes more information is needed before a knowledgeable developer will make the necessary commitments to this project. Moss suggested we write to Colorado Capital Management and see what their fee would be. In that way, their analyses would be on record for any developer who would be interested in doing the project. Moss believes Colorado Capital Management does have the capabilities to undertake this work. Pauley stated that this type of information is necessary but perhaps we should submit this to bid and suggested BBC as an example because of their experience in our community. Cole recommended that the information be packaged in such a manner that would be familiar to developers rather than public agencies. Cole stated that BBC indicated that such work could be better done by a development firm. Windholz suggested the possibility of having a person or company who might ultimately be selected to do the development provide this type of information. Cole said that John Gunyou recommended the firm of Harlan & Miles, a real estate development firm. BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS Estes Park Urban Renewal Authority May 2, 1984 - Page Five Cole has not had an opportunity to call Bill VanHorn or John Wheeler and wondered if someone on the committee could set up a meeting with the Confluence Park Committee (Development Committee) and them regarding Stanley Village. STAFF REPORTS: Cole: Cole notified the Board of the Colorado Municipal League Conference to be held in Vail June 19-23. Cole will be attending one or two days and Windholz suggested that Chairman Phares and Moss attend regarding T.I.F, financing. The motion was made and seconded (Pauley-Anderson) that Cole's travel, lodging and meal expenses to Vail be covered by the Board. Motion approved. Cole stated that the URA Staff is no longer under the town pension program and are presently in violation of the IRS. Chairman Phares said he would deal with this and would talk it over with Windholz after Windholz contacts Greg White. Pohl read from the URA Bylaws, Section lOA, Page 3 and questioned the "Urban Renewal Law". Windholz said that the purpose of that section is that the Authority is authorized to hire personnel (staff) to carry out its functions under the Urban Renewal Law. Motion was made and seconded (Moss-Pohl) to adjourn. Meeting adjourned. Motion carried. Donna Heifner, Recording Secretary