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Home My WebLink About2007-03-06 URA MinutesRegular Scheduled Meeting CALDWELL URBAN RENEWAL AGENCY March 6, 2007 - 12:00 p.m. City Administrative Offices, Conference Room The regular scheduled meeting of the Caldwell Urban Renewal Agency was held March 6, 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 and Leona Fouts. Guests: Steve Fultz, Dennis Cannon Rob Hopper not yet in attendance. Proceeded with Old Business items pending his arrival. OLD BUSINESS CEDC Update: Steve Fultz, Executive Director, provided the following update of C/CEDC activities: CEDC Activity Report Highlighted Activities February 2007  Meetings with Gene Schaffer, Dennis Cannon and ElJay Waite on City Center Complex  Continued working with TVCC – Caldwell (meetings with President & Board members)  Continue working with downtown steering committee  Work with Expectec on business growth and expansion (meeting with IDOC)  Working with BVEP on marketing Caldwell/Canyon County  Meetings with Key Bank on incentives package for business clients  Continued work with Roger Cantlon  Update on web design  Providing 12 marketing packets for downtown investor/developer prospect  Continued work on trade show (agribusiness) with Chamber & ACI  Meeting with Dick Ayers on downtown development  Meeting with new business prospect (Albany and Kimball)  Working with Travel & Tourism committee  Submitted application for cultural/agricultural tourism partnership  Working with The Real Estate Group on downtown project (Lodge property) Dennis Cannon provided an update on the Indian Creek Project: o Demolition on schedule o One bid received for the design/build for Indian Creek o Groundbreaking for Indian Creek tentatively scheduled for March 28, 2007 Rob Hopper has joined the meeting by conference phone. Motion to approve the agenda: Hopper/Fouts M/S/P Motion to approve the meeting minutes of February 7, 2007: Fouts/Hopper M/S/P NEW BUSINESS Chairman Waite presented Note Resolution #2007-1: Authorizing $1,600,000 Revenue Allocation Notes Series 2007. SunTrust Bank, Atlanta Georgia, was one of six financing proposals considered and their offered rate was 4.214%, which is 35 basis points below the next lowest proposal. Jim Wrigley, Sr. Vice President, Wells Fargo Brokerage Services, has reviewed the proposal and supports a decision to accept SunTrust’s financing proposal. CEURA, March 6, Page 2 Motion to adopt Note Resolution #2007-1 and authorize Chairman Waite to meet with bond counsel and execute the necessary closing documents: Hopper/Fouts M/S/P Motion to approve the Note Purchase Agreement between Caldwell East Urban Renewal Agency and SunTrust Bank: Hopper/Fouts M/S/P Rob Hopper has left the meeting and a quorum is no longer present. All further actions will be ratified by the Board at the next meeting on April 3, 2007: Financial Report provided by Chairman Waite: January 30, 2007 Ending Balance Earnings F&M Money Mkt 694,122.68 1,719.37 F&M Business Acct (2,080.26) n/a F&M Indian Creek 1,059.60 .99 Local Gov’t Pool 812,911.58 3,409.40 Financial Report approved by Chairman Waite and L. Fouts, with ratification to occur 4/3/07. Chairman Waite presented the following invoices for payment: $ 29.26 Idaho Press Tribune Ad: Public Hearing for Bond Notes $ 121.00 Caldwell Muncpl Irrigation Pipe Dream Park Lot 4 Blk. 1 $ 154.67 Caldwell Muncpl Irrigation Pipe Dream Park Lot 2 Blk. 1 $ 206.84 Caldwell Muncpl Irrigation Pipe Dream Park Lot 1 Blk. 1 $ 285.00 Ship-It Indian Creek Project Drawings $ 400.77 Caldwell Muncpl Irrigation Pipe Dream Park Lot 1 Blk. 2 $ 859.52 Caldwell Muncpl Irrigation Pipe Dream Park Lot 5 Blk. 1 $ 486.32 Elsworth/Kinkaid Irrigation Line Tap $ 2,500.00 C/CEDC Special Project – City Center Complex $ 15,000.00 C/CEDC Quarterly Payment $ 21,529.20 CH2MHill Indian Creek Project Invoices approved for payment by Chairman Waite and Fouts, with ratification to occur 4/3/07. GENERAL DISCUSSION Chairman Waite distributed a copy of a letter addressed to Mayor Nancolas, City of Caldwell, in support of the Mayor’s efforts to pursue an EPA Smart Growth Implementation Grant. The next meeting will be held at the City Administrative Offices @ 411 Blaine on Tuesday, April 3, 2007 at 12:00 noon Motion to adjourn: Waite/Fouts M/S/P Meeting adjourned @ 1:10 p.m. Respectfully submitted, Leona Fouts Secretary