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Home My WebLink About2015-06-16 URA MINUTES CALDWELL EAST URBAN RENEWAL AGENCY Tuesday,June 16,2015 12:00 p.m. AGENDA ROLL CALL CONFLICT OF INTEREST DECLARATION APPROVE AGENDA SPECIAL PRESENTATIONS PUBLIC COMMENTS CONSENT CALENDAR 1. Approve minutes from the Urban Renewal Agency Regularly Scheduled Meeting held on May 19,2015. OLD BUSINESS 1. Report on financial plan regarding use of Urban Renewal tax increment funding for CHS renovations. 2. CONTINUED: Rental Agreements for 217 Kimball. 3. CONTINUED: Review of the URA Grant-Loan Packet(Forms). NEW BUSINESS 1) Consider invoices for payment from Treasurer: Vendor Amount Description Hamilton,Michaelson&Hilty $168.75 Legal services for April 2015 Can vn County Tax Collector 50.99 215 Kimball TCM Farms 2,3 02.00 Refund cemetery land rent deposit TOTAL $2,521.74 2) Finance and Activity Report from Treasurer. 3) Discuss URA meeting time. 4) Executive Session pursuant to Idaho Code, Section 67-2345, Subsection (c) for the purpose of discussion on acquiring an interest in real property not owned by a public agency. 5) Chairman's report. 6) Commissioner reports. 7) Motion to adjourn. Next Urban Renewal Agency Meeting Date: Tuesday,July 21,2015 at 12:00 p.m. Location: Community Room at the Caldwell Police Station at 110 South Fifth. Any person needing special accommodations to participate in the meeting should contact the Secretary to the Urban Renewal Agency at 411 Blaine Street or call #455-4656 prior to the meeting. The entire agenda packet and minutes may be viewed on the City of Caldwell's website: http://www.ci , ofcaldwell.com/pa_,gem TI or htt ://caldwellonline.or urban-renewal Cualquier persona que necesita arreglos especiales para participar en la reunion debe comunicarse con el Secretario de la Ciudad en 411 Blaine Street o flame al#455 a 4656 antes de la reunion. REGULAR MEETING MINUTES CALDWELL URBAN RENEWAL AGENCY JUNE 16,2015 12:00 P.M. (ROLL CALL) The regularly scheduled meeting of the Caldwell Urban Renewal Agency convened at 12:00 p.m. in the Caldwell Police Department Community Room with Vice-Chairman Pollard presiding. An opening prayer was provided by Ron Belles of the Caldwell Christian Church for the family and friends of Caldwell Police Officer Jeffrey Irby who passed away on June 15,2015 from a motor vehicle accident. Roll was called by the secretary. Present: Commissioner Pollard, Commissioner Callsen, Commissioner Biggers, Commissioner Feucht,and Commissioner Ozuna. Absent: Commissioner Hopper. Staff Present: Mayor Nancolas,ElJay Waite and Robb MacDonald. (CONFLICT OF INTEREST DECLARATION) None. (AMEND/APPROVE AGENDA) MOVED by Callsen, SECONDED by Feucht to approve the agenda as printed. MOTION CARRIED SPECIAL PRESENTATIONS None. PUBLIC COMMENTS None. CONSENT CALENDAR: Approve minutes from the Urban Renewal Agency Regularly Scheduled Meeting held on May 19,2015. MOVED by Callsen,SECONDED by Biggers.to approve the Consent Calendar as presented. MOTION CARRIED OLD BUSINESS: (REPORT ON FINANCIAL PLAN REGARDING USE OF URBAN RENEWAL TAX INCREMENT FUNDING FOR CHS RENOVATIONS) ElJay Waite, 411 Blaine Street, provided a copy of the email from Eric Heringer of Piper Jaffray & Company, concerning the financial plan for the project. He asked that the Commissioners consider a motion today to authorize funding for the design of the project from current year tax increment resources from the Caldwell School District levies and then allow financing from a lender for the remaining balance. Eric Heringer(via phone) of Piper Jaffray& Company of 101 South Capitol Blvd., Suite 603, Boise, provided a summary of the steps involved in formulating the finance funding plan. The following points were highlighted by Mr.Heringer: PAGE I OF 4 • URA to consider approving the Caldwell School District project and authorize current year URA increment dollars to pay for design and A&E and agree to finance the project. • Financing would be put together over the next few months. • Subject to approval by the lender (possibly Banner Bank), the Urban Renewal Agency will pledge tax increment revenue as security for the loan/bond and there will be no security interest in the assets financed. This would allow the URA to basically turn the project over to the Caldwell School District to complete and own from the beginning.(No lease/lease back of property between URA and the District.) • Likely that URA would establish a joint trust account for the project which would be funded from the current year's tax increment revenue and the proceeds of the loanibond. District would request payments from the joint account to pay for the project. URA would review and authorize release of funds. This would allow URA to have oversight and a good paper trail. • Likely that loan/bond with Banner Bank will be a draw-down loan so as to minimize interest costs, but that is really between the URA and the Bank. School District would have access to pay the vendors. • Project would be approved for a TBD not to exceed amount that includes interest cost. • Any cost over-runs would be borne by the District. District will need to keep a close eye on expenses and/or identify contingency funds from other sources. William Gigray II1,Attorney for the Caldwell School District#134, stated the importance for the school district to maintain the high school facility for the sake of the students and community. The project includes an athletic suite to house the sports medicine/nursing program,tech center improvements,and updates to the auditorium. Chairman Callsen expressed his support for the project. Chuck Stout, Chairman of the Trustee Board for Caldwell School District #134, expressed his support for the project on behalf of the Board of Trustees. The community has been supportive of the plan to expand the educational and athletic programs available at CHS.The improvements will enhance the facility. Bill Hamlin,Design West Architects,215 SW 5t'in Meridian,stated his support for the project. Anita Wilson,Caldwell High School Principal at 3404 South Indiana,stated her support of the project. Discussion followed. Lisa Thompson, Business Manager for Caldwell School District #134, addressed the drawn-down process for paying the vendors with approvals given by the Caldwell School District Board and the Urban Renewal Agency Commissioners. In response to questions from Councilman Biggers,Ms. Thompson stated that contingency funds are in place for the project. Mr. Gigray concurred that an agreement would be drafted outlining the protocol for draw-down of funds for payment of invoices. Mayor Nancolas stated that the project is in compliance with the State of Idaho Urban Renewal laws as confirmed by the City Attorney. MOVED by Callsen, SECONDED by Feucht to accept the project as presented for the urban renewal tax increment funding for the Caldwell High School Renovation Project thereby instructing the Urban Renewal Agency Treasurer to work with the Caldwell School District in processing invoices for design work for the project and direct staff to proceed forward in preparing a resolution regarding the project's financial plan. Roll call vote: Those voting yes:Callsen,Biggers,Feucht,and Ozuna. Those voting no:none. Absent and/or not voting:Hopper. MOTION CARRIED (CONTINUED: RENTAL AGREEMENTS FOR 217 KIMBALL) E1Jay Waite reported that the Real Estate Lease Agreements have been signed by both Glenda Blessinger for the Painted Lady(Fashion Boutique)and Cindy Weitz for the Painted Lady(Nail Bar). He noted that the City Attorney would provide the final review of the document after its execution in light of the URA statute dealing with the facility being used for economic development purposes relating to property taxes. Any additional language would not impact the lease with the tenants,but merely clarify the use for the Canyon County Assessor. PAGE 2 OF 4 In response to questions from Councilman Biggers, Ms. Wessinger and Ms. Weitz confirmed that they understood that the future plan for the parcel includes additional development possibilities and therefore the facility lease would possibly not be for an extended period. MOVED by Biggers,SECONDED by Callsen to accept the verbiage within the lease agreements and authorize the execution of the Real Estate Agreements with Cindy Weitz and Glen Blessinger at 217 South Kimball. MOTION CARRIED (CONTINUED: REVIEW OF THE URA GRANT-LOAN PACKET[FORMS]) Mr.Waite requested that the review of the grant loan packet be continued to the next meeting MOVED by Feucht,SECONDED by Callsen to continue this matter to the next meeting to be held on July 21, 2015. MOTION CARRIED NEW BUSINESS: (CONSIDER INVOICES FOR PAYMENT FROM TREASURER) E1Jay Waite,URA treasurer,presented the following invoice for payment: VENDOR AMOUNT DESCRIPTION Hamilton,Michaelson chi Hilty $168.75 Legal services for April 2015 Canyon County Tax Collector 50.99 215 Kimball TCM Farms 2,302.00 Refund cemetery land rent deposit TOTAL $29521.74 MOVED by Feucht,SECONDED by Biggers to pay the invoices as presented. MOTION CARRIED (FINANCE AND ACTIVITY REPORT FROM TREASURER) Bank of the Cascades Business Ckjz Ending Balance Eamin sFees May 31,2105 $2,986,967.39 $404.49 Bank of the Cascades Time CD#1 Ending Balance Earnin s May 31,2015 $2509000.00 Balance will remain constant. Interest earnings deposited to Business Ckg Local Government Investment Pool Ending Balance Earning May 31,2015 $1085485.20 $15.55 Zions Bank Bond Debt Service Ending Balance Earnings To date $3,8861694.34 MOVED by Feucht,SECONDED by Biggers approve the financial report as presented. MOTION CARRIED (DISCUSS THE URA MEETING TIME) Discussion was held concerning the possibility of moving the meeting day and time to Wednesday evenings at 4:00 p.m. It was recommended that the URA Secretary survey the commissioners if the proposed day and time would work with their calendar commitments and report back at the July meeting with her findings. EXECUTIVE SESSION PURSUANT TO IDAHO CODE, SECTION 67-2345, SUBSECTION (C) FOR THE PURPOSE OF DISCUSSION OF ACQUIRING AN INTEREST IN REAL PROPERTY NOT OWNED BY A PUBLIC AGENCY PAGE 3 OF 4 MOVED by Biggers, SECONDED by FeLiCht tO cotivene into ExecUtive Session put'suat'it to lda�o Code,, 'Section '74- 206, Subsection I(c)for the put-pose of discussion ofacqUiring an interest in real property not owned by a public agericy at 1:0 0 p.m. Roll call vote., "Those voting yes- Bigo'ers, FeLlCht, Wuna, and Polk,lrd. 'Those voling iw none. Absent and/or no,t voting. Hopper and Callsen. M01.10"N CARRIED MOVED byBiggers,SECONDED by Fit clitto reconvene inlD Regular Session. ((',J4,A1RM'AN1S REPORT) 'None. (COMMISSIONER REP011TS) N one. (ADJOURNMENT) MOVED by Callsen,SECONDED by FeLlCht to ad OL11-11 at 1:22 p.m. M 01"' 4N sy Approved,as written th is 2 1 St day of Ju,1'.1 2 COMMISSIONER HOPPER C- MISSIONERTEU.., C11-1 ee- C 0 m m 1§1 S,J�'-)N (-"'ONIMISSIONER CALLSEN 0#010 11 10101011 .......... ....... PO.,LAR,D COMMISSIONER BIGCiERS CO IS,JONER, PO A"I"TES71' JENc OC # IC o+ 40 so Debbie GeYer, LJRA Secreta ry 0 '0 % 0 * e) 0 1 N 0 (71 111* PACE 4 OF 4 �> f��¢w■s�■G,#� -' .■AwavA , 'Al