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HomeMy WebLinkAbout2003-12-15 URA MinutesCaldwell East Urban Renewal Agency December 15, 2003 12:00 Noon Minutes Roll Call The following members were present at the December 15th meeting: Garret Nancolas, Matt Beebe, Eljay Waite. Others attending the meeting included: Steve Fultz, CEDC and Jamie Hoover, Freehold Development Approve Minutes from December 1st Meeting On a motion by Matt Beebe, seconded by Garret Nancolas, the CEURA approved deleting the review and acceptance of the Dec. 1st minutes from the agenda. Approve Agenda On a motion by Matt Beebe, seconded by Garret Nancolas, the CEURA approved the agenda as revised. Old Business No old business was presented at the meeting New Business 1. Approve resolution regarding CEURA’s petition with Third District Court seeking judicial confirmation to issue bonds payable from revenue allocation (tax increment) revenues to finance water and sewer improvements. Mr. Waite presented, by title only, a resolution authorizing the filing of a petition in the third judicial district court seeking judicial confirmation for the issuance of revenue allocation bonds to finance improvements to the city’s sewer system; and providing for this resolution to be effective upon it’s passage and approval to the CEURA Board. Mr. Waite stated that a public hearing regarding the resolution had been conducted. After some discussion, on a motion by Garret Nancolas, seconded by Matt Beebe, the Board approved the resolution as submitted. 2. Review Freehold Development land exchange document Mr. Waite introduced Jamie Hoover of Freehold Development, to present the proposed contract to the Board. Mr. Waite also presented a list of issues submitted in writing by CEURA Board member Leona Fouts. Key issues addressed in the meeting included the following: Restrictive Covenant—The agreement provided by Freehold stated that the restrictive covenants and design guidelines would be “less restrictive” than the Eagle documents. It was discussed, and committed by Freehold Development to have the document read that the covenants “shall be not more restrictive.” Common Frontage Costs—It was clarified in the meeting that Freehold and Urban Renewal will share in the frontage road costs, including future extensions. It was also clarified that Urban Renewal would bear the total expense of the park area road (a.k.a. Logan Road). Pressurized Irrigation—There was some discussion regarding shared cost for pressurized irrigation lines as they may be extended. Mr. Waite stated that the financial commitment from Urban Renewal is in amount not to exceed $65,000. Power Reimbursement—It was the opinion of the Board that the contract document would need to provide equity language regarding the responsibility of providing power. Freehold’s Approval of Land Transfers—Ms. Fouts identified a few minor issues (e.g. typos, words missing, etc.) that were identified and would be corrected by Freehold. In addition, the parties agreed to set a time of 60 days for Freehold to provide notice to Urban Renewal of disapproval of a proposed transfer of property. First Right of Refusal—Under the first right of refusal, is was suggested that Freehold remove the word “unconditional” regarding the right to purchase the lands. It was also recommended that the time lines be extended for Freehold to notify Urban Renewal in writing of Freehold’s intent to purchase the designated lands…(from 75 days to 6 months); and that Urban Renewal shall notify Freehold…of any undeveloped Freehold Exchanged Lands that it still retains (from 120 days to one year). Other Issues—Mr. Nancolas requested that the City be removed as a signature to the document. It was committed by Mayor Nancolas that the City would provide engineering for roads and development at the site; and that the city, through a letter of commitment, would not impose more limited restrictions grater than those set forth in the Toothman Orton Engineering Part 77 airspace analysis dated 10/10/2003. There was discussion that a lead agency needs to be identified on roads and irrigation construction. Mr. Nancolas stated to assure that the project is completed on time, that the City/Urban Renewal should take the lead position. This point was not completely resolved. Farming Contract—It was agreed that the farming contracts will dovetail into the contract agreement. There was some discussion regarding a small parcel of ground on the north and south ends of the property that could be attractive sites for non-civic uses. This would be in conflict to the contract stating that the land may be developed solely for the purpose of parks and other civic related uses. This issue could be resolved by Freehold’s first right of refusal. This was not fully resolved. There was clarity statement that the electrical costs under Smeed Parkway would be a shared cost between Freehold and Urban Renewal. In regards to Freehold being reimbursed by Urban Renewal for survey and legal description costs, the Board agreed that they would need to review the costs before committing to the expense. It was proposed by Mr. Waite that Caldwell Economic Development Council be listed specifically in the contract as a not-for-profit recipient of property. Mr. Hoover agreed, with the understanding that CEDC would carry all issues of the contract. Mr. Steve Fultz, Director of CEDC agreed that the agency would desire to be a party to, and would fully comply with the stipulations as set forth in the contract. With no other issues to be addressed by the Board, Mr. Hoover was asked to make the noted and agreed upon corrections to the document and submit to the Urban Renewal Agency in an expedient manner. 3. Approve Invoices On a motion by Eljay Waite, seconded by Matt Beebe, the Board approved the following Invoices: IPT $28.49 Hilty LLC $1,414.00 Pipleline Inspection $140.00 GALS $2,282.65 Larson Architects $1,232.95 CEDC $13,750.00 4. Financial Report It was reported that, as of 10/31/03 the Urban Renewal Agency had the following balance: Farmers and Merchants checking $12,017.92 Farmers and Merchants Money Market $297,092.49 Int. $323.82 Local Govt. Inv. Pool $738,170.92 Int. $1,163.70 On a motion by Matt Beebe, seconded by Eljay Waite, the Board approved the financial report. 5. General Discussion With no further business to be discussed, the next meeting was scheduled for January 6, 2004 at 12:00 noon at City Hall. In the absence of the CEURA Secretary, minutes recorded by Steve Fultz, Executive Director of CEDC. Consent to Board Action: ________________________ ElJay Waite, Chairman