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Home My WebLink About2004-04-06 URA MinutesRegular Scheduled Meeting CALDWELL URBAN RENEWAL AGENCY April 6, 2004 - 12:00 noon Caldwell City Hall Conference Room The regular scheduled meeting of the Caldwell Urban Renewal Agency was held April 6, 2004 at 12:00 noon in the Conference Room @ City Hall with Chairman ElJay Waite presiding. The roll was called: present were ElJay Waite, Mayor Garret Nancolas, Matt Beebe and Leona Fouts. Rob Hopper arrived as noted in the minutes. Motion to approve the agenda: Fouts/Beebe M/S/P Motion to approve the March 2, 2004 meeting minutes: Fouts/Nancolas M/S/P Old Business CEDC Update: Steve Fultz, Executive Director, provided an update on CEDC activities which include: continued work on Skyway Ranch development and negotiations with Idaho Athletic club, upcoming meeting to look at loan options @ 2% below prime rate, 6 retention calls, 8 new business leads with 3 from regional companies, business incubator progressing nicely with collaboration from ACof I and BSU’s incubator, and working with the new charter school to find temporary housing while school is being built. Commissioner Hopper arrived. Chairman Waite announced that a Qualified Project Engineer has been selected and hired to work solely on Urban Renewal projects under the direction of the City Engineer. Motion to approve funding and establish quarterly payments based on cost projections for the position: Nancolas/Beebe M/S/P New Business Redevelopment of the old Shell station location on the corner of 10th and Freeport was presented by Jeff of Fast Track Corp, and Larry VanHess, project partner. They are planning a 1.3 million-dollar development to include a car wash, Jiffy Lube and Moxie Java. In order for clients to head south from these businesses, traffic flow will require them to make a right-only turn (north) onto 10th, circle east on Freeport, south on 11th, and west on Chicago to access the left turn lane onto 10th Avenue. Concern was voiced by Jeff and Larry regarding the unpaved and deteriorated block of 11th Avenue between Freeport and Elgin. Newly washed cars will be forced to travel a bumpy, dusty road. The developers do not own the land abutting the roadway and they are requesting URA support in paving the road. A representative from Rotonics (Mike) was also in attendance and made a plea for an upgrade to the block to enhance beautification efforts being planned by his business on the east side of the street. A request was made to URA to provide paving, curb, gutter & sidewalk for the one-block section of 11th avenue from Freeport to Elgin. Mayor Nancolas stated that this request falls within the scope and intent of the URA plan and would have broad reaching effect for businesses, residential and Van Buren School. He suggested several options: 1) the developer doing the work with URA reimbursing the pre-approved cost or, 2) the City’s engineering department scheduling the work and URA paying the cost, which will create a delay due to volume of projects already on the docket for the engineering department. CEURA, 4/6/04, Page 2 The developers agreed to obtain bids and a plan for implementation. Motion to tentatively support the project contingent upon cost approval, city engineering department recommendations, and developers going forward with their 10th Avenue project: Hopper/Nancolas M/S/P Chairman Waite introduced a Memorandum of Understanding between the YMCA and URA for the funding of the proposed YMCA. The MOU has been reviewed by the Agnecy’s legal counsel and approved by the YMCA Board of Directors. The URA would be agreeing to increase our current commitment of $5,000,000 plus $500,000 in matching funds by an additional commitment of $2,241,562 plus potential interest costs incurred by the YMCA of up to $2,000,000, making URA’s total potential commitment $9,741,562. Mayor Nancolas spoke at length in favor of the proposal citing increasing building costs, low interest rates, diligence on the part of the steering committee, successful fund raising efforts, and the enormous benefit to the community. Chairman Waite provided an updated budget detailing the effect of the financial commitment on URA’s current budget. With payment of $300,000 in 2004, $700,000 in 2005 and $1,000,000 each year thereafter until satisfied, the expenditure will cash flow without jeopardizing current commitments or our ability to support future requests. Revenue numbers used in the projections are conservative figures. After considerable discussion and questions by the URA commissioners, the audience was invited to offer comments. Speaking in favor of the proposed commitment were George Crookham of Crookham Company, Elaine Carpenter of Carpenter Screen Printing, Gerald Bauman, community leader and retired doctor, Dave Gipson of Caxton Printers and Todd McKay, Director of the YMCA. The commissioners were assured a number of times that the fund raising efforts would continue and that many potential contributors are waiting until after the ground breaking to donate. There were no comments in opposition. One modification of the document was requested by Matt Beebe on page 2, paragraph 3, line 6, changing the word “youth” to “one.” Motion to approve the Memorandum of Understanding with the modification noted above, and authorize ElJay Waite to sign the MOU on behalf of the Urban Renewal Agency: Hopper/Fouts M/S/P Chairman Waite re-opened New Business Item #1, Shell Station Development. Developers arrived with updated information and presented a cost estimate from Gordon Law, City Engineer, for the paving, curb, gutter, and sidewalk for 11th Avenue between Freeport and Elgin. The cost was a rough estimate and expected to be high. Mayor Nancolas asked the developers to consider allowing the URA to reimburse them in two payments, thereby spreading the cost for URA over two fiscal years. He also asked them to consider a financial partnership in the project to keep the cost feasible for URA. The developers offered to contact other businesses for potential cost sharing, and agreed to refine the numbers and report back to the board with a formal request. Motion to approve invoices as follows: $ 4,728.69 Spectrum Environmental Indian Creek Path $ 2,750.00 Balukoff Lindstrom Audit $ 2,025.00 Stoel Rives Indian Creek $ 420.00 Hamilton Michaelson,Hilty Charter School $ 455.00 Hamilton,Michaelson,Hilty Bond Counsel $ 900.00 ICRMP Liability Insurance $13,750.00 CEDC Urban Renewal Work Hopper/Fouts M/S/P CEURA, 4/6/04, Page 3 Financial report provided by Rob Hopper: Farmers and Merchants checking account balance of $8,168.48 as of 3/19/04, Farmers and Merchants money market balance of $1,322,011.06, with interest paid of $877.54 as of 3/19/04, and local government investment pool balance of $743,068.05 with interest paid of 1,326.80 as of 3/31/04. Motion to approve the financial report: Fouts/Beebe M/S/P The next meeting has been scheduled for Tuesday, 5/4/04 at 12:00noon Motion to adjourn: Beebe/Fouts M/S/P Meeting adjourned @ 1:40pm Respectfully submitted, Leona Fouts Secretary