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Home My WebLink About2011-10-04 URA MinutesPage 1 of 3 Regular Meeting CALDWELL URBAN RENEWAL AGENCY October 4, 2011 – 12:00 Noon City Administrative Offices, Conference Room The regular scheduled meeting of the Caldwell Urban Renewal Agency convened at 12:00 Noon on October 4, 2011 in the Conference Room at Caldwell City Hall Administrative Offices with Vice- Chairman Theresa Hardin presiding. Roll was called: Present: Theresa Hardin, Kathy Alder, Rob Hopper and Leona Fouts Guests: Steve Fultz, Bob Carpenter, Randy Million Motion to approve the agenda as presented: Fouts/Alder M/S/P Motion to approve the minutes of the September 6, 2011 meeting: Fouts/Alder M/S/P OLD BUSINESS #1: CEDC Activity Report provided by Steve Fultz, Executive Director. Highlights for September 2011 • Working with 4 manufacturing companies, all interested in SkyRanch site, 3 interested in the Foreign Trade Zone opportunities. • Project Bake – working on a business succession plan before final decision is made. • Project Air – looking for 60,000sf with future expansion to 100,000sf; 45 jobs initially with expansion to 100 jobs. Meeting scheduled with representatives from Pennsylvania on 10/5/11 • Project Wolverine – needs 70,000sf with expansion to 120,000sf; meeting scheduled 10/7/11. #2 FTZ Update provided by Steve Fultz, CEDC • Foreign-Trade Zone application: Application revisions submitted. Review Board has approved the application. It now must be submitted to various departments for signature which is typically a 6-9 month process. • Funding will be needed for development of contracts, documents and marketing materials. #3 Update on downtown development concept from Business Recruitment & Expansion Committee (“BR&E”) presented by Steve Fultz. The BR&E Committee met with developers and various consultants to develop a proposed incentive package for a mixed use development in downtown Caldwell. The incentive package includes potential URA funding up to $1,000,000 through URA’s Business Incentive Grant incentive program that is currently available. BR&E is requesting a commitment letter from URA to include in the developer incentive package. URA commissioners clarified that Urban Renewal can provide incentive dollars for economic development, but can’t buy property to give to a developer. The incentive program currently in place is available to a developer if job creation and other required criteria are met. The commissioners further clarified that tax revenues continue to decrease and, while the URA Board of Commissioners has every intention of continuing the Business Incentive Grant program that is currently in place, the board is not able to guarantee that the program will be available for the next four years. All commissioners indicated support of the project and a desire to assist where appropriate and fiscally able. Page 2 of 3 Motion to draft a letter in support of the project and offer potential funding through the Business Incentive Grant program currently in place, noting that the program operates on a year-to-year basis and that it is the intent of the current Board of Commissioners to continue funding this program for the next four years as the budget allows: Hopper/Hardin M/S/P NEW BUSINESS #1: Discuss FTZ, Urban Renewal vision and involvement. Steve Fultz, CEDC, presented a Special Project funding request in the amount of $20,000 to assist in the development of contract language for the Foreign Trade Zone program through a contract with Miller & Company and to assist in the development of FTZ marketing materials, website/social media opportunities and the distribution of print media. Commissioner Alder questioned the necessity of a continued contract with Miller & Company and asked at what point the FTZ would be able to operate without outside consultants. Steve Fultz explained that CEDC will eventually become the managing body for the FTZ and the expected time frame is one year. In addition to development of contracts and documents, which is an imminent need, operations training is necessary and in progress. Commissioner Hopper suggested that extensive marketing efforts might be premature if final approval is still six months away. He requested that CEDC breakout the contract support costs and the marketing timeline and costs and present a more detailed package for funding consideration. #4 Finance Report provided by Rob Hopper: Bank of the Cascades Business Ckg Ending Balance Earnings September 30, 2011 62,491.55 0 Bank of the Cascades Time CD#1 Ending Balance Earnings August 4, 2011 250,000.00 Pd Qtrly Balance will remain constant. Interest earnings deposited to Business Ckg Wells Fargo Savings (#8890) Ending Balance Earnings September 31, 2011 2,065,149.73 108.84 Wells Fargo Checking (non-interest) Ending Balance Earnings September 31, 2011 3,845.98 0 Wells Fargo Money Market (#8601) Ending Balance Earnings September 31, 2011 53,570.97 36.28 Local Government Investment Pool Ending Balance Earnings September31, 2011 107,833.67 22.75 Wells Fargo (Bond Debt Service) Ending Balance Earnings August 31, 2011 Fund 96 3,705,467.34 14.84 Motion to approve the financial report: Fouts/Alder M/S/P Page 3 of 3 #5 Invoices presented for payment: presented by Rob Hopper $ 20.44 Petty Cash September lunch $ 245.00 Hamilton, etc. Attys Misc Legal; lease agreement changes $ 8,313.00 ICRMP Annual Contribution $ 15,000.00 CEDC 4th Qtr Contribution $ 23,578.44 Motion to approve the invoices for payment: Alder/Fouts M/S/P #6: Commissioner Reports No report. The next meeting will be held November 1, 2011 at 12:00noon. Motion to adjourn: Fouts/Alder M/S/P Meeting concluded at 1:10pm. Respectfully submitted, Leona Fouts Secretary