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Home My WebLink About8-30-2011 URBAN RENEWAL MINUTES � � • PUBLIC HEARING Proposed Budget for Fiscal Year 2012 URBAN RENEWAL AGENCY of the City of Caldwell, Idaho August 30, 2011 - 12:00 p.m. ' , Caldwell Police Department Community Room 110 South Fifth Avenue, Caldwell The meeting was called to order by Chairman E1Jay Waite at 12:00 noon. The roll was called: present were E1Jay Waite, Rob Hopper, Theresa Hardin, Kathy Alder and Leona Fouts. All commissioners were present and a quorum established. Motion to approve the agenda to consider the fiscal year 2012 Urban Renewal Agency budget: Hopper/Fouts M/S/P Chairman Waite welcomed everyone and announced that this public hearing was scheduled to set forth the budget for the Caldwell Urban Renewal Agency for Fiscal Year 2012. The sign-up sheets were gathered and Chairman Waite noted that there were no individuals signed up to speak either in favor or against, and one individual signed up to speak neutrally. Chairman Waite provided a detailed review of the revenue and expenditures for Fiscal Year beginning October l, 2011 and ending September 30, 2012. • Chairman Waite opened the meeting for public comment or question, calling upon the individual signed up to speak neutrally: Paul Alldredge, 3107 Arlington Ave., Caldwell. Paul Alldredge posed the question of whether or not there will be any Urban Renewal Agency bond debt that will carry over past the 2014 sunset year. Chairman Waite stated that there will be approximately $1.4 million in existing sewer bond debt that will continue unti12022. Paul Alldredge asked if the commission anticipated any other bonding projects between now and the sunset of Urban Renewal that will carry over past 2014. Chairman Waite stated that there are no plans for projects requiring bonding at this time. He further explained that the Urban Renewal Agency will continue as a legal entity past 2014 for the sole purpose of debt retirement, to which approximately 35°Io of the increment t� revenue will be applied, with the balance of the increment tax revenue returned to the taxing districts. In response to a general question regarding the cash carryover, Chairman Waite noted that the budget ends on September 30, 2011 and there is a payment due of $1.6 million on October 6, 2011, thus the carry over is necessary to meet obligations that arise prior to receipt of the increment tax revenue for the new budget year. � - r � I • Chai:man Waite heard comments from each of the four commissioners, all of whom spoke in favor of the 2011-2012 budget, with salient points being: • the majority of the budget was committed to capital projects already in place and few projects are left to fund, • completed projects include incentives to spur development in downtown Caldwell, • funds have been carefully administered, • the budget is conservative, • optimism voiced for revenue in excess of budget to fund projects yet unknown. Chairman Waite announced that Simply Stylin' Salon and Greg Poe Airshows have been approved for incentive grants. He also noted that there will be a new project presentation at the September 6, 2011 Urban Renewal meeting and welcomed public attendance at the meeting. Chairman Waite further stated that the Exit 29 project may receive some federal reimbursement funds which could eliminate reimbursement expenditures to the City of $320,000 and uncommitted incentive grants of $220,000 may provide $540,000 to stimulate economic development projects downtown. Chairman Waite asked for any additional comments. Hearing none, he thanked the attendees and declared the public hearing closed at 12:20pm. Motion to approve the fiscal year 2012 Urban Renewal Agency budget as presented: Hopper/Fouts M/S/P • Motion to adjourn: Hopper/Alder M/S/P Meeting adjourned at 12:23pm Respectfully submitted, Leona Fouts Secretary • � i � Caldwell Urban Renewal Agency Expenditure Budget - FY 12 , October 1, 2011- September 30, 2012 Account � Acconnt Title 2010-2011 2011-2012 Budget Budget Maintenance & Operations Accou nting & Engineering Services ( City Staf fl 6,00 8,000 CE DC-Seivices C ontract $60K, S Pr $2 80, 80,4 Contingency - _ Audit- $ / Legal $ / Insurance $2K ($1,4 1 i,b00 12,d00 Agency L.I.D.'s - Downtown $25K - - Totai Maintenance & Operations 97,600 100,Q00 Capital Expenditures D owntawn Co 20 0,000 250 ,000 Exit 29 E ngineering 2 of 4& 3 of 4 32Q,400 320,000 Cata lyst Utility x•elocation/ work - - • Aiiport Terminal {payment 2 of 2) 100,000 - Street Im R eimbursement Agreemen - - MA NDATORY BONDS & PLEDGES: - Sewer Bond Series 2008 Principal Payment 37 5,000 425 ,000 Sewer Bond Series 2008 Inte Paym 297,275 282,275 Sew Bond Series 2006 Principai 444,Q 460,O Sewer Bond S eries 2006 Intez•es 29 4,225 27 3,975 Sewer B ond Series 2004 Principal 310,000 325,000 Sew Bond Series 2004 I 88,7 74,8 Indian Creek Revenue Note Principal 2 15,000 2 25,000 Tndian Creek Revenue Note In terest 36,556 27,391 Indi Creek Praperty Purc Seri 2005 P 411,7 429,40 In dian Creek P Pu Series 2005 In#erest 36 ,fl02 18, YMCA Consh�uction Pledge 1, 000,000 1,000,000 Indian Cree Construc finai p ayment - - • Education Building Equipment 233,500 - . , � Account � Account Title 2010-201I 2011-2012 Budget Budget Educat Building Purchase 1., 525,000 1,695,0 V SD Academy R 100,000 10 0,000 Water Well #18 & #19 _ _ Downtown Parking 1 5,000 - TotaI Capital Expenditures 5,998,127 5,9Q6,316 Other �xpenses Pas through $ _ $ _ Pass through _ _ Pass through bond proceeds - .. Total Other �xpenses � _ $ _ ', TOTAL BUDGET $ 7,592,776 $ b,0U6,316 � Caldwell East Urban Renewal Agency Revenue Budget - FY 12 Octobcr 1, 2011- September 30, 2012 Fund - Ol Urban Renewal Fund 201Q-2011 2011-2012 Budget Budget 10010 CASH & C EQUIVALENT $ 1,037, $ 2 ,02d,832 31100 PROP TAXE 5,9 00,000 S,b00,Q 34190 MI SCELLANEOUS REVENUE - _ 34774 PE1RK IMPA FEES _ 36111 STATE P OOL INTEREST REV 1 0,000 10,00 36320 LAND BUILDING RENTAL 210,000 220, 500 39360 LO PROCEE _ 39340 BOND PROCEEDS _ _ TOTAL REVENUE $ 7,157,591 $ 7,851,332 CASH BALANCE $ 2,020,832 $ 1,845,U16 • R Notice of Public Hearing �� Proposeci Budget for Fiscal Year 2012 Urbaii Renewa[ Agency of the City of Cald�veli, Idaho M A public he�ring, pursuant to Idaho Code 54-1UO2, for consideration of tiie proposed budget for the fiscal year that begins Octobcr l, 201 l, and ends September 30, 2012, will be held in the Cottununity Meeting Room, in the Caldwell Poiice Station l 1 Q Sth Ave., Caldivell, Idaho, at I2:00 uoon on August 30, 20l 1. , Couiments, �vritten or otlierwise, about the proposed budget are welcome, Copies of the proposed FY-2012 Urban Renewa] Btidget (in detail) are available at City Hall fi•om 5:00 a.m. to 5:00 p.m. weekdays. City Hall is accessible to persons with disabi]ities. Anyone desiri�ig accommodations for disabilities related to the budget docume�its or to tlie hearing, please contact the Office of the City Clerk, (208} 455-3000, at least 48 hours prior to the public hearing. FY 2009 Actual FY 2010 Actual FY 2011 Budget FY 2012 Budget FUND Expenditures Expenditures Expenditu��es Expenditures General Fund $ 6,188,332 $ 4,881,863 $ 6,095,727 $ 6,006,316 Non-Increment Non-Increment Non-Increment Non-Increment FUND Tax Revenue Tax Revenue Tax Revenue Tax Revenue General Fund $ 50,845 $ 43,456 $ 220,000 $ 230,500 Increment Tax Increment Tax Tncrement Tax Increment Tax FUND Revenue Revenue Revenue Revenue General Fund $ 5,851,782 $ 6,125,b40 $ 5,900,000 $ 5,600,000 � . TOTAL All Revenue 5,902,627 6,169,09b 6,120,Q00 5,830,500 * Use of Fund Balance, R.E. or BaIance Sheet Changes (285,705} 1,287,233 24,273 (175,816) i Revenue to meet Expenditures $ 5,616,922 $ 7,456,329 $ 6,144,273 $ 5,654,684 I,Dabbie Geyer, City Clerk of the Ci of Caldwell, Idaho do hereb certi th�t the above h' � Y fY is a h•ue and correct statement of the proposed expenditares and revenues for fiscal year 2012, aIl of which have been tentatively approved and entered at length in the dournal of Proceedings. I further certify that the Urban Renewal Agency of the City of Caldwell, Idaho, did give notice for said hearing with noEice having been pubIished twice at least seven days apart prior to the adoption of tfie budget by the 'City Council. Citizens are invited to attend the vudget hearing on August I5, 2010, at 7:00 p.m. and have the right to provide 4vritten or oral comments concerning the entire Urban Renewal budget. A copy of the proposed bvdget {in detail) is available at City Hall for inspection during regu]ar office hours, 8 a.m. to 5 p.m. Publication Dates: August 7 and August I4, 2011 •