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Home My WebLink About2010-10-05 URA MinutesPage 1 of 4 Regular Scheduled Meeting CALDWELL URBAN RENEWAL AGENCY October 5, 2010 – 12:00 p.m. City Administrative Offices, Conference Room The regular scheduled meeting of the Caldwell Urban Renewal Agency convened at 12:00 noon on October 5, 2010 in the Conference Room at Caldwell City Hall Administrative Offices with Chairman ElJay Waite presiding. Roll was called: Present: ElJay Waite, Rob Hopper, Amy Rojas, Garret Nancolas and Leona Fouts Absent: Steve Rule Guests: Steve Fultz, CCEDC; Theresa Hardin, Caldwell Chamber of Commerce; Ben Losinski, Matz Benke, Eric Makrush. Motion to amend the agenda to consolidate New Business items #2 & #3 to one agenda item under “Consider Resolution #2011-01”: Hopper/Rojas M/S/P Motion to approve the agenda as amended: Hopper/Rojas M/S/P Motion to approve the minutes of the September 7, 2010 meeting: Fouts/Rojas M/S/P OLD BUSINESS #1: C/CEDC Activity Report presented by Steve Fultz, Executive Director: Highlights for September 2010 • Continued work with College of Western Idaho (CWI) on expansion in Caldwell for vocational-technology programs that currently reside on the BSU campus • Continued work with on potential manufacturing and cold-storage business to Caldwell…needs about 33,000 square feet to start, expanding to 100,000 square feet • Continued work with downtown incentive options. • Working with developer on potential expanding of the wine region, distribution center project, and airport development • Continued work with Chamber on travel/tourism strategic plan for the Caldwell area • Continued work with Jim Toomey at U of I Incubator on additional grant funding for adding more room for wine making incubation • Continued update of marketing materials (website development) • Continued work on development/for end-user at Caldwell Airport • Working with potential developers on project at Caldwell Airport • Working with TVCC and CWI on potential flight and maintenance facility training programs • Research FTZ opportunity for Caldwell airport • Working with business from Oregon on potential site in downtown (retailer) • Met with two Caldwell businesses on retention/expansion efforts • Working with committee on growth/expansion of Caldwell’s farmer market • Worked on basic sector business lead for Sky Ranch site • Submitted site information to two outside businesses for Caldwell location (leads from BVEP) • Meeting and community tour with new BVEP Director • Strategy meetings with Freehold Development/Sky Ranch • Strategy meeting with one property owner at Skyway Business Park Page 2 of 4 NEW BUSINESS #1 Consider Proposal from Ron Bitner: Ron Bitner, owner of Coyotes Wine Tastery, submitted a proposal for $4,310 in improvements to the Kimball property to bring the plumbing, electrical and flooring up to code to satisfy the requirements of SW District Health. Mr. Bitner is planning to increase Coyotes hours of operation, offer a wider selection of Idaho and Pacific Northwest wines and, at the request of patrons, add an appetizer menu. Rob Hopper spoke in favor of the request stating that the wine bar adds a popular and successful destination point to downtown Caldwell and has helped CEURA achieve a goal of promoting industry in the downtown sector. Mayor Nancolas stated that, as the property landlord, CEURA has a responsibility to make the building marketable, code standard and viable for any tenant. Infrastructure improvement is an investment and helps increase economic development in the downtown core. Motion to authorize expenditures up to $4,310 for improvement to the Kimball property: Hopper/Rojas M/S/P #2 Consider Resolution No. 2011-01: Chairman Waite informed the commission that obtaining bank financing terms that are in the best interest of the taxpayers, the City and CEURA, for the purchase of the TVCC education building from CP-1, LLC, has proved to be difficult due to the current economic and lending climate. Chairman Waite introduced Resolution No. 2011-01: A Resolution of the Urban Renewal Agency of the City of Caldwell, Idaho authorizing amendment of the terms of a Purchase and Sale Agreement with CP-1, LLC; authorizing the acquisition of real property from the City of Caldwell, Idaho; setting forth certain findings in support hereof; authorizing necessary contracts; authorizing the Chairman to execute documents necessary to complete transactions on behalf of the Agency; and providing for this Resolution to be effective upon its passage and approval. Resolution No. 2011-01 authorizes an Addendum to the original Purchase and Sale Agreement between CEURA and CP-1, LLC and a new Purchase and Sale Agreement between CEURA and the City of Caldwell. The proposed plan calls for the City of Caldwell to enter into a Purchase and Sale Agreement with CP-1, LLC for the purchase of the education building, using cash reserves currently held in the Local Government Investment Pool earning interest at approximately 1%. CEURA will then enter into an agreement with the City to purchase the building in four annual payments at an interest rate of approximately 5%. This plan results in higher returns on cash balances for the City and a decrease in interest expense for CEURA from the financing rate of 8% under the CP-1, LLC agreement, and keeps all interest payments in city revenues. This equates to an interest expense reduction for CEURA of approximately $450,000 and increased revenue to the City of $600,000. Chairman Waite further stated that the Resolution and documents contained therein have been carefully reviewed, considered and approved by Rick Skinner, attorney for CEURA, Mark Hilty, attorney for the City, and Brian Ballard, attorney for Oppenheimer/CP-1 LLC. It was further noted that community colleges are proven to have a positive impact on strengthening the community’s work force, decreasing the crime rate and decreasing the high school drop-out rate. Mayor Nancolas and Commissioner Rob Hopper noted potential conflicts of interest due to the positions they hold with the City of Caldwell and declined comment on the Resolution. Motion to approve and adopt Resolution #2011-01: Fouts/Rojas M/S/P Fouts, Rojas and Waite voted in favor of the motion. Nancolas and Hopper abstained. #3 Consider Retail Space Lease Agreement: Chairman Waite presented a Real Estate Lease Agreement for the retail space in the TVCC building commencing on October 1, 2010 and Page 3 of 4 terminating on July 31, 2011. Chairman Waite stated that a selection process was held by members of the CCEDC board and the CEURA board and a finalist determined. At the request of community business owners, the process was delayed, extended and advertised for an additional thirty days. No further proposals were received and the selection committee reverted back to their original selection. The 10 month lease agreement under consideration will be between Tom Smith, owner of Chukars Espresso and Deli, and CEURA. Motion to approve the Real Estate Lease Agreement between Tom Smith and CEURA: Fouts/Nancolas M/S/P #4 Consider changes to CEURA Bylaws: Chairman Waite presented a change to Article 3, Section A of the Bylaws of the Urban Renewal Agency, which adds the following two sentences: “The board of commissioners shall be established and maintained in accordance with the requirements of Idaho’s Code. The Mayor of the City of Caldwell shall be an ex-officio, non- voting member of the board of commissioners.” Motion to approve the Bylaws as amended: Fouts/Hopper M/S/P Chairman Waite recommended the appointment of Theresa Hardin, Executive Director of the Caldwell Chamber of Commerce, to the board of commissioners for CEURA. Motion to present a request to city council to approve and appoint Theresa Hardin to the CEURA Board of Commissioners: Fouts/Rojas M/S/P #5 Financial Report provided by Rob Hopper: Bank of the Cascades Business Ckg Ending Balance Earnings September 30, 2010 1,078,121.32 274.73 Bank of the Cascades Time CD#1 Ending Balance Earnings December 1, 2009 (most recent stmnt) 251,953.42 not reported Wells Fargo Savings Ending Balance Earnings September 30, 2010 1,084,308.56 356.82 Home Federal Business Ckg (non-interest) Ending Balance Earnings September 1, 2010 91,348.62 n/a Home Federal Repurchase Agreement Ending Balance Earnings June 30, 2010 (most recent stmnt) 190,522.94 103.16 Home Federal - 30 day Time CD Ending Balance Earnings September 31, 2010 253,009.79 319.77 Local Government Investment Pool Ending Balance Earnings September 31, 2010 607,005.01 211.76 Wells Fargo (Debt Service) Ending Balance Earnings July 31, 2010 3,665,870.00 22.05 Motion to approve the financial report: Fouts/Rojas M/S/P Page 4 of 4 #6 Invoices presented for payment presented by Rob Hopper: $ 25.43 City of Caldwell UR Meeting Lunch $ 15,000.00 CCEDC Quarterly Funding Pledge $ 350,860.01 Wells Fargo Bank TVCC building purchase $ 1,068,000.00 Bank of the Cascades TVCC building purchase (Total TVCC $1,418,860.01) Motion to approve the invoices for payment: Rojas/Fouts M/S/P #7 General Business/Commissioner Reports Chairman Waite informed the commissioners that the CEURA budget for 2011-2012 has been presented to city council for approval. Mayor Nancolas stated that he met with Bruce Schultz to discuss a previously submitted funding request for the Caldwell Career Training & Education Initiative and, based on new information, is recommending that Mr. Schultz provide the board with documentation on the work and research behind the project and re-submit his request for consideration by the board. The next meeting will be held November 2, 2010 at 12:00 noon Motion to adjourn: Fouts/Hopper M/S/P Meeting adjourned at 1:20 p.m. Respectfully submitted, Leona Fouts Secretary