HomeMy WebLinkAbout2008-05-27 URA Minutes, Special MeetingMEETING MINUTES
Special Meeting
CALDWELL URBAN RENEWAL AGENCY
May 27, 2008 - 12:10 pm
City Administrative Offices, Conference Room
A special meeting of the Caldwell Urban Renewal Agency was held May 27, 2008 at 12:10 pm
in the Conference Room at the City Administrative Offices, with Chairman Waite presiding. The
roll was called; those present were ElJay Waite, Garret Nancolas and Rob Hopper; Leona Fouts
and Steve Rule were present via conference call.
Chairman Waite stated that the purpose of the meeting is to discuss a real estate transaction in
which both the city and Urban Renewal have interests. Chairman Waite announced that
Oppenheimer Development has reached a tentative purchase agreement with Jeff Jensen for his
property located on the corner of 7th and Blaine, which is essential for the city hall project. The
property appraised at $290k and an offer was extended by Jeff Jensen to sell at $429k. The city
council approved a sales contract of $300k which is the maximum amount they are able and
willing to pay. There is a request before the Urban Renewal Commission to assist in the
acquisition of the property in the amount of $129k. This assistance would be in the form of
relocation expenses and other costs associated with the vacating of the property.
Mayor Nancolas stated that this request falls within the Urban Renewal plan because it
eliminates blight, encourages development and will help stimulate growth in the downtown area.
The location of the new city hall on this property is important to the master plan for downtown
development by establishing 7th street as a corridor and tying the depot and Indian Creek to the
new city hall plaza.
Leona Fouts, Steve Rule and Rob Hopper all voiced support for the project and the expenditure
of funds.
Motion to enter into an agreement with Jeff Jensen for use of $129k of Urban Renewal funds to
assist in the closing of the real estate transaction between the City of Caldwell and Jeff Jensen,
with the funds specifically intended for relocation expense, business interruption and
discontinuation, property vacation and catalyst project prime site acquisition, with the $129k to
be paid in full contingent upon final approval of documents by the city attorney: Hopper/Rule
M/S/P
There being no further business: Motion to adjourn: Fouts/Hopper M/S/P
Meeting adjourned 12:26 PM
Respectfully Submitted,
Leona R. Fouts
Secretary