HomeMy WebLinkAbout2007-06-05 URA MinutesRegular Scheduled Meeting
CALDWELL URBAN RENEWAL AGENCY
June 5, 2007 - 12:00 p.m.
City Administrative Offices, Conference Room
The regular scheduled meeting of the Caldwell Urban Renewal Agency was held June 5, 2007 at
12:00 noon in the Conference Room @ City Administrative Offices with Chairman ElJay Waite
presiding. The roll was called: present were ElJay Waite, Rob Hopper, Garret Nancolas and
Leona Fouts. Guests: Scott Curtis, David Durro, Elaine Carpenter, Tim Cobb
Motion to approve the agenda: Fouts/Hopper M/S/P
Motion to approve the meeting minutes of May 1, 2007: Fouts/Hopper M/S/P
OLD BUSINESS
CEDC Update: Steve Fultz, Executive Director, was not available to provide an update.
Indian Creek Project update: Dennis Cannon was not available to provide an update.
YMCA update: Scott Curtis, David Durro & Elaine Carpenter provided a detailed update on
the Caldwell YMCA in areas such as Operations, Financial, Demographics, Capital Campaign
status and Fundraising Efforts. Their business plan includes fundraising opportunities and
requests for additional funding. A request for funding will be reported in New Business (below).
NEW BUSINESS
A funding proposal for the Caldwell YMCA was introduced by Scott Curtis, David Durro and
Elaine Carpenter suggesting two opportunities for CEURA to consider. 1) “The URA could
complete the Caldwell Family YMCA Capital Campaign, removing all debt. This would ease
the pressure on operations, allowing a positive change of $70,000 annually to the current
business plan and allowing any future surpluses to be funneled into programming rather than the
paying off of debt. An additional pledge of 1 million would take care of all or nearly all of the
debt from construction” and 2) “We would like to continue to explore opportunities as they arise
and seek out funding from the URA while looking for additional partners and donors to help
expand the impact of the YMCA on the entire community. Some of the additional projects that
are already foreseen are: 2nd Floor Health & Fitness Expansion, Day Camp/Outdoor Activities
Covered Patio, Child Development/Expansion and Auxiliary Gymnasium to possibly include
racquetball courts.
Two funding suggestions for the Caldwell YMCA were offered by Mayor Nancolas and
Chairman Waite: 1) The URA’s current cash is committed, creating a need to come up with
funding solutions that allow us to tap into future revenues and still provide relief for the “Y”.
Extending our current annual commitment of $1,000,000 by one additional year will allow the
“Y” to free up reserves that can then be used for monthly operations. 2) The original URA
commitment of $2,000,000 for interest on the “Y’s” debt will not be used in full. Allowing the
“Y” to spend the balance of the commitment on projects and programming as they see fit will
provide additional funding and will not increase the URA’s commitment.
These options will be further discussed and decided at subsequent meetings of the CEURA.
CEURA, June 5, 2007, Page 2
Mayor Nancolas provided an update on the TVCC project stating that Butch Gilliland has
offered to construct a 40,000sf facility for TVCC, leasing 25,000sf to TVCC and finding a tenant
for the additional square footage. Vallivue School District has expressed interest in the
additional square footage to be used for an alternative high school. Negotiations are underway.
Rob Hopper presented the following invoices for payment:
$ 397.50 Hamilton, Michaelson, Hilty Indian Creek Bonding
$ 225.00 Hamilton, Michaelson, Hilty Indian Creek Contract Review
$ 3,690.00 Ida Gold Nursery Indian Creek Landscaping & Plants
Motion to approve the invoices for payment: Fouts/Hopper M/S/P
Financial Report provided by Rob Hopper:
April 30, 2007 Ending Balance Earnings
F&M Money Mkt 771,275.29 2,128.38
F&M Business Acct 22,915.20 n/a
F&M Indian Creek 1,608,005.61 4,196.26
Local Gov’t Pool 822,905.25 3,453.13
Motion to approve the financial report: Fouts/Hopper M/S/P
The next meeting will be held at the City Administrative Offices @ 411 Blaine on Tuesday, July
3, 2007 at 12:00 noon
Motion to adjourn: Hopper/Fouts M/S/P
Meeting adjourned @ 1:30 p.m.
Respectfully submitted,
Leona Fouts
Secretary