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Home My WebLink About2011-06-07 URA MinutesPage 1 of 3 Regular Meeting CALDWELL URBAN RENEWAL AGENCY June 7, 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 June 7, 2011 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, Teresa Hardin, Leona Fouts and Ex- Officio Member Mayor G. Nancolas Guests: Steve Fultz Motion to amend the agenda to include New Business item #6A; Approve letter of support for Caldwell Housing Authority: Fouts/Hardin M/S/P Motion to approve the agenda as amended: Fouts/Hardin M/S/P Motion to approve the minutes of the May 3, 2011 meeting: Alder/Fouts M/S/P OLD BUSINESS #1: C/CEDC Activity Report provided by Steve Fultz, Executive Director. Highlights for April 2011 • Project Bake is working with Oppenheimer Development. Potential for a 5 acre parcel in the SkyRanch development. • Grant Applications: two new applications in process. o Papa’s Steak House in the old John and Wayne’s location. Qualifies for grant requirements. Ready to request the grant agreement be submitted to attorney for compliance review. o Acapulco Restaurant requesting assistance to expand and add a patio area. Will be meeting with City planning for review and approval of the expansion. • Foreign Trade Zone: In progress, amendments to CCEDC Bylaws required and in process, anticipate application completion within 3-4 months, no retail or agriculture zones allowed in the FTZ, potential location in the SkyRanch area. #2: Business Incentive Grant Report provided by Steve Fultz. Two incentive grant agreements have been reviewed and compliance approved by the attorney and are ready for final approval by CEURA. NEW BUSINESS #1: Consider Business Incentive Grant Agreement # BIG-001. Chairman Waite presented the final grant agreement for Simply Stylin’ Salon in the amount of $30,000. The agreement has been reviewed and approved by legal counsel. Rob Hopper raised a question regarding the reporting and qualifications for “employees” vs “independent contractors” and how to value and confirm contract labor compensation to ensure the job creation objective of the program is being met. Motion to increase the base wage requirement by 7.65% and require tangible proof of earnings for all independent contractors that are included in the job creation qualifications of a Business Incentive Grant application: Hopper/Alder M/S/P Page 2 of 3 Chairman Waite noted that Simply Stylin’ Salon still meets the base wage requirement when the new qualifications for independent contractors are applied. Motion to approve Business Incentive Grant Agreement #BIG-001 for Simply Stylin’ Salon in the amount of $30,000: Hopper/Fouts M/S/P #2: Consider Business Incentive Grant Agreement # BIG-002. Chairman Waite presented the final grant agreement for Greg Poe Airshow, Inc., in the amount of $43,496. The agreement has been reviewed and approved by legal counsel. Motion to approve Business Incentive Grant Agreement #BIG-002 for Greg Poe Airshow, Inc., in the amount of $43,496: Fouts/Hopper #3: Consider Business Incentive Grant request. Steve Fultz, CCEDC, presented a grant request for Papa’s Steak House in the amount of $29,785. The project costs include upgrades to the facility and new equipment. Projected job creation is 6 full-time employees at approximately $16.50/hour. The application has been approved by the CCEDC review committee and is recommended for compliance review by legal counsel. Motion to submit the Business Incentive Grant application to legal counsel for compliance review and recommendation for funding: Hardin/Alder M/S/P #4: Review operations and performance at Chuckar’s Espresso Deli. Chairman Waite presented a list of seven complaints concerning operations at Chukar’s Espresso and Deli that have been received by CEURA commissioners. The lease expires on July 31, 2011 and the Lessee is required to provide 60 days notice of his request to renew the lease. The deadline to request renewal has passed. The commissioners unanimously voiced serious concern with the complaints and expressed the need to not renew the lease and immediately post a public notice to find a new tenant. Motion to authorize the Secretary to draft an exit letter to the owner of Chukar’s Espresso and Deli, and authorize Chairman Waite to post a public notice of a tenant search for the retail space: Alder/Hardin M/S/P #5: Consider bond refunding options. Chairman Waite presented a potential option of re-financing the 2004 Series Bond that is scheduled to pay out in 2015. The bond payment is $380,000 per year and has a balance owing of approximately $1,500,000. Re-financing is available at a 3% reduction in the current rate which will net a savings of $80,000 to urban renewal. Motion to authorize Chairman Waite to pursue the potential to re-finance the 2004 Series Bond for anticipated savings to CEURA: Hopper/Alder M/S/P #6: Review UR projects and commitments spreadsheet. Chairman Waite provided a review of forecasted increment funding for CEURA. The county and the city will see reduced revenue from property taxes next year and urban renewals’ estimated financial commitments will be carefully monitored. #6A: Approve letter of support for Caldwell Housing Authority Motion to approve a letter of support for the Caldwell Housing Authority’s Elgin Street Project: Hopper/Hardin M/S/P #7 Finance Report provided by Rob Hopper Bank of the Cascades Business Ckg Ending Balance Earnings May 31, 2011 39,256.46 0 Page 3 of 3 Bank of the Cascades Time CD#1 Ending Balance Earnings May 4, 2011 250,000.00 1,889.73 Balance will remain constant. Interest earnings deposited to Business Ckg Wells Fargo Savings (#8890) Ending Balance Earnings May 31, 2011 1,672,567.61 391.51 Wells Fargo Checking (non-interest) Ending Balance Earnings May 31, 2011 3,845.98 0 Wells Fargo Money Market (#8601) Ending Balance Earnings May 31, 2011 1,048,178.73 241.19 Local Government Investment Pool Ending Balance Earnings May 31, 2011 107,735.43 28.94 Wells Fargo (Bond Debt Service) Ending Balance Earnings April 30, 2011 Fund 96 2,593,665.26 22.04 Motion to approve the financial report: Fouts/Alder M/S/P #8: Invoices presented for payment: presented by Rob Hopper $ 30.00 Petty Cash lunches – May $ 29.62 Petty Cash lunches – June $ 3,825.00 Spectrum TVCC Environmental Analysis $ 98.25 Air Comfort Air Conditioning Repair, 215 S. Kimball $ 82.38 Canyon County 205 6th Ave – Interest & Penalties $ 15,232.20 CCEDC FTZ – 1/3 project expenses $ 50.00 Redevelopment Assoc of ID 2011 annual dues $ 19,347.45 Financial Note: $55,000 fund transfer from Well Fargo to Bank of the Cascades Motion to approve the invoices for payment: Fouts/Hardin M/S/P #9: Commissioner Reports No reports The next meeting will be held July 5, 2011 at 12:00noon. Motion to adjourn: Hopper/Alder M/S/P Meeting concluded at 1:10pm. Respectfully submitted, Leona Fouts Secretary