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Home My WebLink About11-15-2011 URBAN RENEWAL MINUTES . � • Regular Meeting CALDWELL URBAN RENEWAL AGENCY November 15, 201 l-12:00 Noon City Administrative Offices, Conference Room The regular scheduled meeting of the Caldwell Urban Renewal Agency convened at 12:00 Noon on November 15, 2011 in the Conference Room at Caldwell City Hall Administrative Offices with Chairman ElJay Waite presiding. Roll was called: Present: E1Jay Waite, Rob Hopper, Kathy Alder and Leona Fouts Guests: Steve Fultz Motion to approve the agenda as presented: Fouts/Alder M/S/P Motion to approve the rrtirtutes of the October 4, 2011 meeting: Fouts/Alder M/S/P OLD BUSINESS #1: CEDC Activity Report provided by Steve Fultz, Executive Director. Highlights for October 2011 • Primary focus for October has been on Project Air and the FTZ • Project Air — manufacturer looking for 11 acres for 64,OOOsf with future expansion to 100,000sf; 30-40 jobs initially with expansion to 100 jobs. Average wage of $10-$12/hr plus benefits. Will potentially qualify for the BIG program through URA. An incentive package is being created for land purchase, 600 ft extension of Skyway, industrial revenue bonds, counTy tax incentives, and other possible incentives. � • Project Air will be a great addition to Caldwell and CEDC eXtends gratitu�e to the City of Caldwell, Mayor Nancolas, ElJay Waite, Brent Orton, City Development Services and Freehold Development for their integral roles m recruiting this company. • Working with a company that needs 22,000 sf for a call center. #2 FTZ Update provided by Steve Fultz, CEDC • Foreign-Trade Zone application: Waiting on the Public Hearing Notice. The period expires the end of November, no responses received yet and not anticipating any. • Funding request will be presented. NEW BUSINESS #1 Approve BIG-001 pay request #3. Chairman Waite presented the third payment request for the Business Incentive Grant-001 for Simply Stylin' in the amount of $3,750. All conditions of the grant have been met. Motion to approve the third payment request for BIG-001 in the amount of $3, 750: Hopper/Alder M/S/P #2 Consider Project Air proposal. Chairman Waite turned the time to Steve Fultz who presented a proposal from CEDC for URA's participation as a partner in an agreement to receive funds to be held in trust to build . 600 feet of roadway to extend Skyway St., with any excess funds applied t�ward project permit fees. Road construction costs have been estimated by the city engineering department, including a 10% contingency, between $92,000 and $100,000. The proposal further requests � that URA reserve up to $200,000 in BIG incentive money to be paid out over a 2 year period, contingent upon receipt of a qualified application from Project Air. Motion to approve Project Page 1 of 3 . � • Air incentive plan to include urban renewal's participation in an agreement to provide street improvements to Skyway Street funded as part of a land purchase, and to reserve $200, 000 in Business Incentive Grant dollars over a two year period pending receipt of a qualified application from Project Air: Hopper/Alder M/S/P #3 Consider CEDC FTZ Project Request. Steve Fultz, Executive Director of CEDC, presented a funding request for $20,000 to assist with start-up costs for the Foreign Trade Zone. The funding request covers legal & technical support, training, and design, development and distribution of marketing materials for the next year. Mr. Fultz noted that the FTZ will be self-sustaining once it is established and operating. Start-up costs are critical to successfully launch the project. Based on comments and suggestions voiced by the commissioners, Chairrnan Waite recommended that CEDC board members determine specific FTZ startup expenses and funding methods available to CEDC. After a successful startup, CEDC could approach urban renewal with a funding reimbursement request. Commissioners agreed with these suggestions. #4 Finance Report provided by Rob Hopper: Bank of the Cascades Business Ck� Endin� Balance Earnin�s October 31, 20ll 78392.21 0 Bank of the Cascades Time CD#1 Endin� Balance Earnin�s • October 31, 2011 250,000.00 Pd Qtrly Balance will �emain constant. Interest earnings deposited to Business Ckg Wells Fargo Savings (#sg9o) Endin� Balance Earnin�s October 31, 2011 2,065,237.43 87.70 Wells Fargo Cheekin� (non-interest) Endin� Balance Earnings October 31, 2011 3,845.98 0 Wells Fargo Monev Market(#s6oi) Endin� Balance Earnin�s October 31, 2011 53,570.97 36.2& Local Government Investment Pool Endin� Balance Earnin�s October 31, 2011 � 107,833.67 0 Wells Fargo (Bond Debt Service) Ending Balance Earnin�s September 30, 2011 Fund 96 2,998,643.37 23.15 October 31, 20ll Fund 96 2,998,668.02 25.05 Motion to approve the financial report: Alder/Fouts M/S/P #5 Invoices presented for payment: presented by Rob Hopper $ 86.00 Pioneer Irrigation Kimball buildings • $ 982.28 Pioneer Irrigation KCID Rd/Ward Lane $ 1,453.52 Pioneer Irrigation Skyway Ranch Page 2 of 3 . , A a � $ 319.58 Caldwell Irrigation 205 6 ave. $ 500.00 Redevelopment Assoc of ID URA Agencies — FY2012 dues $ 223.68 Mountain Power & Elec Electrical circuit for Deli sign $ 242.73 Idaho Press Tribune Public Hearing Notice - Budget $ 3,484.76 City of Caldwell Billable project wages 2011 $ 8,365.00 City of Caldwell 215-217 Kimball utility costs $ 30,803.21 City of Caldwell Kimball buildings - fa�ade $ 35,536.50 City of Caldwell TVCC parking lot FY2011 $ 81,997.26 Motion to approve the invoices for payment.• Alder/Hopper M/S/P #6: Commissioner Reports Chairman Waite inquired of Commissioner Alder as to the disposition of the Southwest District Health building downtown. Commissioner Alder serves on the Southwest District Health Board and will present this item for discussion at their next meeting. The next meeting will be held December 6, 2011 at 12:OOnoon. Motion to adjourn: Hopper/Alder M/S/P Meeting concluded at 1:15pm. Respectfully submitted, • Leona Fouts Secretary • Page 3 of 3