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Home My WebLink About2-7-2012 URBAN RENEWAL MINUTES S • Regular Meeting CALDWELL URBAN RENEWAL AGENCY February 7, 2012 — 12:00 Noon City Administrative Offices, Conference Room The regular scheduled meeting of the Caldwell Urban Renewal Agency convened at 12:00 Noon on February 7, 2012 in the Conference Room at Caldwell City Hall Administrative Offices with Chairman E1Jay Waite presiding. Roll was called: Present: E1Jay Waite, Rob Hopper, Theresa Hardin and Leona Fouts Guests: Steve Fultz Motion to approve the agenda as presented: Hopper/Hardin M/S/P Motion to approve the minutes of the January 3, 2012 meeting: Fouts/Hopper M/S/P OLD BUSINESS #1: CEDC Activity Report provided by Steve Fultz, Executive Director. Highlights for January 2012 • Project Air — Southwark Metal Manufacturing will begin phase-one with 79,500 sf. Property sale expected to close in February, building permit scheduled for March, opening date projected for September. Will open with 30 jobs, increasing to 50 within a year. Property purchase price is $500,000, of which $400,000 is paid to Freehold development for the property and $100,000 is paid to Urban Renewal to be held in reserve to pay for 550' of street & infrastructure improvements on Skyway. • Website- Funding request submitted to URA for assistance in upgrading the CEDC website ' • which is outdated and inadequate. (Request considered in New Business Item #3A) #2 FTZ Update provided by Steve Fultz, CEDC � Application filed, accepted, awaiting signatures. Have had calls of interest from companies looking for expansion/relocation opportunities within an FTZ. Currently working with a South Carolina company that was referred to CEDC by Boise Valley Economic Partnership because of client's interest in locating within the FTZ. #3 Project Air Update: Reference Item #1 above. NEW BUSINESS ' #1 Consider Project Air Incentive Grant Application. Chairman Waite presented a Business Incentive Grant application from Southwark Metal Manufacturing Co. for $200,000. The project cost is approximately $6,000,000 with all projected positions meeting the grant criteria for job creation (wages must meet or exceed 2 x minimum wage including health benefits). The application scores 55 out of 55 points. Motion to accept and approve the application and submit it for legal review. Hopper/Hardin M/S/P #2 Consider BIG-001 Grant Reimbursement Request. Chairman Waite presented the 4` quarterly reimbursement request from Simply Stylin' Salon. Grant criteria was met for 2 employees, qualifying the company for reimbursement of $2,500. Motion to approve the BIG-001 4th quarter reimbursement of $2,500 to Simply Stylin' Salon: � Fouts/Hopper M/S/P Page 1 of 3 . .� . #3 Consider and Accept Audit Report for September 30, 2011. Chairman Waite presented and reviewed the 2011 audit report for URA, noting no deficiencies. Motion to accept the audit report and submit it to City Council for approval: Hopper/Fouts M/S/P #3A Consider CEDC Website Upgrade Funding Request. Discussion was held regarding URA's ability to assist in funding the upgrade. Chairman Waite will check with legal counsel. #4 Consider Construction Design Timeline for Project Air. Chairman Waite noted that construction is ready to begin on the portion of r�adway impacted by Southwark Metal. A deposit from Southwark will be placed in a non-refundable trust account to pay for Southwark's portion of the road construction. Motion to authorize construction to begin on the portion of roadway for Southwark Metal : Hopper/Fouts M/S/P #5 Consider Interview Process for Vacant Board Positions. Chairman Waite informed the commissioners that city council has approved 7 positions on the Board of Commissioners and recommendations for the two vacant positions are to be submitted to City Council by the URA Board for consideration and approval. Chairman Waite requested that each commissioner submit to him a list of potential candidates before the next meeting. #6 Finance Report provided by Rob Hopper: • Bank of the Cascades Business Ckg Endin� Balance Earnin�s January 31, 2012 4,144,499.47 0 Bank of the Cascades Time CD#1 Endin� Balance Earnin�s November 29, 2011 250,000.00 Qtr1y Balance will remain constant. Interest earnings deposited to Business Ckg Wells Far�o Savin�s �#ss9o� Endin� Balance Earnin�s January 31, 2012 1,065,494.98 84.97 Wells Far�o Checkin� (non-interest) Endin� Balance Earnings January 31, 2012 3,845.98 0 Wells Fargo Monev Market(#a6oi� Endin� Balance Earnin�s January 31, 2012 53,580.00 2.28 Local Government Investment Pool Endin� Balance Earnin�s January 31, 2012 107,918.42 17.11 Wells Fargo (Bond Debt Service) Endin� Balance Earnin�s December 31, 2011 Fund 96 2,998,718.14 24.65 � Motion to approve the financial report: Fouts/Hardin M/S/P Page 2 of 3 , � w . #5 Invoices presented for payment: presented by Rob Hopper $ 702.95 CC Tax Collector 205 S. 6` Ave — exempt property •$ 3,455.23 CC Tax Collector 205 S. 6`" Ave $ 3,855.59 CC Tax Collector 217 S. Kimball Ave. $ 3,626.84 CC Tax Collector 215 S. Kimball Ave. $ 1,000,000.00 YMCA FY 2012 Pledge amount $ 171.55 Mtn Power Electric Circuit breaker replacement on TVCC Bldg $ 100,000.00 Vallivue School Dist 2 Pledge — Academy renovation $ 124,854.35 Suntrust Finance 2007 Revenue Note $ 2,500.00 Simply Stylin' Salon BIG-001/002-2011 #4 Payment $ 1,239,166.51 Motion to approve the invoices for payment: Fouts/Hardin M/S/P #6: Commissioner Reports Chairman Waite noted the following TVCC numbers: 212 new students this year 100 June graduates 801 enrolled this semester 2,979 students annually 29 is average student age 25°Io Hispanic 50°Io are full-time students � The next meeting will be held March 6, 2012 at 12:OOnoon. Motion to adjourn: Fouts/Hopper M/S/P Meeting concluded at 1:30pm. � Respectfully submitted, � Leona Fouts �, Secretary , • Page 3 of 3