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Home My WebLink About2012-01-03 URA MinutesPage 1 of 3 Regular Meeting CALDWELL URBAN RENEWAL AGENCY January 3, 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 January 3, 2012 in the Conference Room at Caldwell City Hall Administrative Offices with Chairman ElJay Waite presiding. Roll was called: Present: ElJay Waite, Rob Hopper, Kathy Alder and Leona Fouts Guests: Steve Fultz Motion to approve the agenda as presented: Hopper/Fouts M/S/P Motion to approve the minutes of the November 15, 2011 meeting: Alder/Fouts M/S/P OLD BUSINESS #1: CEDC Activity Report provided by Steve Fultz, Executive Director. Highlights for December 2011 • Project Air – 12/22/11 confirmation received from manufacturer that they have selected the Caldwell site. The company will start with 95,000 sf and 40-50 jobs on 12 acres in the western portion of the SkyRanch Business Park. The official announcement will come from the City. • Downtown: Steve Fultz has been meeting with Oppenheimer and potential investors. Active discussions being held with a Boise restaurant and a well-known coffee shop. • Freehold: Meetings are being held with Freehold Development to discuss strategies for development of SkyRanch. • CWI has expressed interest in a Caldwell presence to offer their Culinary Arts curriculum. #2 FTZ Update provided by Steve Fultz, CEDC • Foreign-Trade Zone application: The Public Hearing Notice received no negative comments and the application is now free to move forward. Marketing pieces are in draft form, website is being developed, the site operations agreement is in draft form. Mayor Nancolas met with Canyon County legislators and senate leadership to inform them of the purpose and benefits of an FTZ. Hoping to complete the start-up process by March 1st and begin marketing FTZ. NEW BUSINESS #1 Consider Hope Plaza Apartments project. Chairman Waite presented a funding request of $40,000 from the Hope Plaza Apartments to help offset the cost of off-site utilities and irrigation pumping station and lines. URA made a commitment in February 2008 to assist with this project up to $40,000. The project serves as an economic generator in a blighted area of town, provides improvements that benefit future development in the area and provides attractive low-income housing, all of which fit the mission, purpose and goals of the Urban Renewal plan. Motion to pay the commitment of $40,000 to the Hope Plaza Apartments project: Alder/Hopper M/S/P #2 Consider Audit Engagement Letter Chairman Waite presented the annual audit engagement letter from Eide Bailey. Motion to ratify the signing of the engagement letter and approve the audit: Hopper/Alder Page 2 of 3 #3 Consider Nominations for Officers. Chairman Waite opened the floor for nominations for the offices of Chairman, Vice Chairman and Secretary for the 2012 calendar year. Motion to maintain the current slate of officers and re-elect ElJay Waite as Chairman, Theresa Hardin as Vice Chair, and Leona Fouts as Secretary: Hopper/Alder M/S/P #4 Consider Vacant Board Positions. Chairman Waite noted that our effort to expand our Board of Commissioners to include representation from the school districts’ Board of Trustees has been difficult for the school districts to fill. Discussion ensued and the suggestion was made to amend the bylaws to eliminate the restriction of school board representation and open up the two positions to community members at large. Motion to amend the bylaws to replace the requirement of two school board representatives with community-at-large representation, with candidates to be recommended by the URA Board and submitted to city council for review and approval: Hopper/Fouts M/S/P #5 Consider Bond Trustee Agreements. Chairman Waite presented a proposal to engage a new financial institution as URA’s bond trustee for the three URA bonds. Our current trustee is a Wells Fargo group that has relocated from Boise to Seattle. Communication and support has deteriorated and a local trustee is desired. A proposal letter has been received from Zions Bank which includes a reduction in Trustee Fees. Motion to approve Zions Bank as the URA Bond Trustee effective January 2012: Hopper/Fouts M/S/P #6 Finance Report provided by Rob Hopper: Bank of the Cascades Business Ckg Ending Balance Earnings November 30, 2011 41,582.02 0 December 31, 2011 154,096.76 0 Bank of the Cascades Time CD#1 Ending Balance Earnings November 29, 2011 250,000.00 1,953.43 Qtrly Balance will remain constant. Interest earnings deposited to Business Ckg Wells Fargo Savings (#8890) Ending Balance Earnings November 30, 2011 2,065,322.31 84.88 December 31, 2011 2,065,410.01 87.70 Wells Fargo Checking (non-interest) Ending Balance Earnings November 30, 2011 3,845.98 0 December 31, 2011 3,845.98 0 Wells Fargo Money Market (#8601) Ending Balance Earnings November 30, 2011 53,575.45 2.21 December 31, 2011 53,577.72 2.27 Local Government Investment Pool Ending Balance Earnings November 30, 2011 107,858.18 24.51 December 31, 2011 107,878.11 19.93 Page 3 of 3 Wells Fargo (Bond Debt Service) Ending Balance Earnings November 30, 2011 Fund 96 2,998,693.49 25.47 Motion to approve the financial report: Fouts/Alder M/S/P #5 Invoices presented for payment: presented by Rob Hopper $ 15,000.00 CEDC Quarterly Pledge $ 6,000.00 City of Caldwell Accounting Fees 2011 $ 33.47 City of Caldwell Petty Cash – November lunch $ 34.16 City of Caldwell Petty Cash – December lunch $ 335.00 City of Caldwell Water bill - TVCC building $ 21,402.63 Motion to approve the invoices for payment: Alder/Fouts M/S/P #6: Commissioner Reports Mayor Nancolas noted that the State of the City Address is scheduled for Tuesday, January 10th at 4:00 in Jewett Auditorium. The next meeting will be held February 7, 2012 at 12:00noon. Motion to adjourn: Hopper/Fouts M/S/P Meeting concluded at 1:07pm. Respectfully submitted, Leona Fouts Secretary