HomeMy WebLinkAbout2003-12-01 URA MinutesRegular Scheduled Meeting
CALDWELL URBAN RENEWAL AGENCY
December 1, 2003 - 12:00 noon
Caldwell City Hall Conference Room
The regular scheduled meeting of the Caldwell Urban Renewal Agency was held December 1,
2003 at 12:00 noon in the Conference Room @ City Hall with Chairman ElJay Waite presiding.
The roll was called: present were ElJay Waite, Dennis Callsen and Leona Fouts; Absent were
Matt Beebe and Mayor Garret Nancolas
Motion to approve the agenda: Callsen/Fouts M/S/P
Motion to approve the November 4, 2003 meeting minutes: Fouts/Callsen M/S/P
CEDC Update: Representation from the CEDC board was not available. A written report from
Steve Fultz, Executive Director, was provided.
Chairman Waite opened the public hearing and informed those present that the commission
would hear public comment regarding the URA proposed revenue allocation bonds to finance
improvement to the city’s sewer system, and those wishing to testify or ask questions must sign
in and provide current name/address for the record. There was no one signed up to speak.
Chairman Waite turned the meeting over to Mark Hilty, City Attorney. Mr. Hilty notified the
commissioners that CEURA is authorized to issue tax increment bonds for sewer improvements,
which are paid back through user fees and increased taxes attributable only to increased property
values. The bonds are sold to investors as a tax-free investment. To make the bonds viable and
attractive, a non-contested judicial confirmation is held to resolve any potential legal arguments.
The three projects included in this bond issuance:
1) Construct new anaerobic digester facility at the waste-water treatment plant
2) Construct new headworks facility at the waste-water treatment plant
3) Construct new screening system in headworks facility at the waste-water treatment plant
Documents submitted into record are as follows:
Exhibit #1 Description of Project
Exhibit #2 Resolution Authorizing the Filing of a Petition Seeking Judicial Confirmation
Exhibit #3 Petition for Judicial Examination and Determination of Validity
Exhibit #4 Sign-up Sheets to speak at the public hearing
Exhibit #5 Financing Option C – LOC Backed
Exhibit #6 Financing Option B – Average Rate / LOC Backed
Chairman ElJay Waite presented the financing options.
Motion to approve and accept the financing documents as complete, and close the Public
Hearing: Callsen/Fouts M/S/P
CEURA, 12/1/2003, Page 2
Land Exchange and Development. Chairman Waite notified the board that Jamie Hoover did
not appear at the scheduled closing for the land exchange and was unwilling to sign the closing
documents until a signed agreement was in place.
A new Land Exchange and Development Agreement, drawn by Mr. Hoover’s attorney, was
presented for review. Chairman Waite requested that the commissioners review the document
and be prepared to discuss it at the next meeting.
Chairman Waite also noted that the Charter School has indicated that they may be backing out
of the proposed placement site. The cited reasons are that the charter school Board of Directors
has not been kept informed of URA discussions with the charter school, and that they would
prefer a location nearer to an existing school due to transportation issues.
No invoices to approve. A request for payment has been received from CEDC and will be
discussed and acted upon at the next meeting.
The next meeting has been scheduled for Monday, 12/15/03 at 12:00noon
Motion to adjourn: Callsen/Fouts M/S/P
Meeting adjourned @ 12:55am.
Respectfully submitted,
Leona Fouts
Secretary