HomeMy WebLinkAboutCEURA agenda 12-31-07CALDWELL EAST URBAN RENEWAL AGENCY
Special Meeting of the Board of Commissioners
December 31, 2007—10:00am
Caldwell City Hall - 411 Blaine Street
AGENDA
ROLL CALL
Approve agenda
OLD BUSINESS
1) Consider FY 2008 Budget
2) Review Estimated Cash Commitments schedule
3) Consider YMCA funding request from the minutes of the June 5, 2007 meeting;
A funding proposal for the Caldwell YMCA was introduced by Scott Cutlis, David Durro and
Elaine Carpenter suggesting two opportunities for CEURA to consider. 1) "The URA could
complete the Caldwell Family YMCA Capital Campaign, removing all debt. This would ease
the pressure on operations, allowing a positive change of $70,000 annually to the current
business plan and allowing any future surpluses to be funneled into programming rather than the
paying off of debt. An additional pledge of 1 million would take care of all or nearly all of the
debt frorn construction" and 2) "We would like to continue to explore opportunities as they arise
and seek out funding from the URA while looking for additional partners and donors to help
expand the impact of the YMCA on the entire community. Some of the additional projects that
are already foreseen are: 2"d Floor Health & Fitness Expansion, Day Camp/Outdoor Activities
Covered ratio, Child Development/Expansion and Auxiliary Gymnasium to possibly include
racquetball courts.
Two funding suggestions for the Caldwell YMCA were offered by Mayor Nancolas and
Chairman Waite: 1) The URA's current cash is committed, creating a need to come up with
funding solutions that allow us to tap into future revenues and still provide relief for the "Y"
Extending our current annual commitment of $1,000,000 by one additional year will allow the
"Y" to flee up reserves that can then be used for monthly operations. 2) The original URA
commitment of $2,000,000 for interest on the "Y's" debt will not be used in full. Allowing the
"Y" to spend the balance of the commitment on projects and programming as they see fit will
provide additional funding and will not increase the URA's commitment.
These options will be further discussed and decided at subsequent meetings of the CEUIZA.
Discussion:
Consider Resolution 2008-2 extending CEURA's pledge period to the YMCA Construction
Fund by one year and increasing CEURA's total commitment by $1,000,000.
4) Approve Invoices
5) Motion to adjourn
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MEETING MINUTES
Special Meeting
CALDWELL URBAN RENEWAL AGENCY
December 31, 2007 - 12:00 noon
City Administrative Offices, Conference Room
A special meeting of the Caldwell Urban Renewal Agency was held December 31, 2007 at 10:00
AM in the Conference Room at the City Administrative Offices, with Chairman Waite presiding.
The roll was called; those present were E]Jay Waite, Garret Nancolas, and Steve Rule. Rob
Hopper and Leona Fouts were present via conference call.
Motion to approve the agenda: Fouts/Rule MfS/P
OLD BUSINESS
Chairman Waite presented the final FY 2008 budget and announced that the budget is in balance
with a projected fund balance of approximately $2,000,000. Motion to approve the 2007- 2008
Fiscal Year budget: FoutslRule M/S/P
Chairman Waite distributed an Estimated Financial Commitments spread sheet for review.
CEURA's financial position is growing and adequate to meet our current and future
commitments, and is financially sound
Chairman Waite introduced Resolution 2007-8-2 to fund a pledge increase and a time
extension for the Caldwell Family YMCA, the details of which are noted in the June S, 2007
meeting minutes:
RESOLUTION NO. 2007-8-2
A RESOLUTION OF THE URBAN RENEWAL AGENCY OF THE CITY OF CALDWELL, IDAHO,
APPROVING A TIME EXTENSION FOR ONE YEAR AND INCREASING AGENCY
CONTRIBUTION BY $1,000,000 FOR FINANCING THE CALDWELL FAMILY YMCA AND DEIST
RELATED THERETO.
Motion to sponsor and approve Resolution No. 2007-8-2: RulelFouts M/S/P
Chairman Waite opened the floor for any further business to be brought before the commission.
Mayor Nancolas announced that the regularly scheduled URA meeting for January conflicts with
the annual State of the City address. Motion to move the January meeting to Wednesday,
January 9, 2008 at I2:00 noon: at Caldwell City Administrative Offices at 411 Blaine, Caldwell,
Idaho: Nancolas/Fouts MIS Rob Hopper opposed the motion due to his inability to attend on
that date. Motion passed.
There being no further business: Motion to adjourn: FoutslRule M/S/P
Meeting adjourned 10:23 AM
Respectfully kpbmitted,