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Home My WebLink About2018-02-12 URA MINUTES CALDWELL URBAN RENEWAL AGENCY 7:00 P.M. Monday,February 12,2018 REGULARLY SCHEDULED MEETING ROLL CALL CONFLICT OF INTEREST DECLARATION APPROVE AGENDA SPECIAL PRESENTATIONS PUBLIC COMMENTS CONSENT CALENDAR 1) Approve minutes fiom the Urban Renewal Agencexpenditures Regularly sup ou$4,00,000 forlce on certain capital expenditure 2) Approve Reimbursement Resolution for certain projects within the Agency's boundaries, including but not limited to the Indian Creek Plaza construction and renovation; 3) Approve Resolution authorizing the execution of the Banner Bank Commitment Letter for Indian Creek Plaza in the amount not to exceed$4,400,000; 4) Approve Resolution authorizing 0 acre s located within the Sky Ranch Business Center and acceptance p of Earnest Company of approximately Money in the amount of$10,000.00; 5) Approve Resolution granting an easement for sanitary sewer mainlines across the Urban Renewal Agency property to provide sewer service for 1704 KCID Road; Realignment 6) Approve Resolution ratifying the License Agreement tr for the 400 ct authorize grth 400 ateral Realignment eProject eto #24-2017) in conjunction with Pioneer Irrigation District proceed in its planned location; 7) Approve Resolution authorizing the execution of the No-Default Certificates for the URA Bond Series 2012 (Canyon County Administrative Building Project) and Series 2016 (Caldwell School District No. 132 Improvements Project). OLD BUSINESS 1) Economic Development Activity Report from Steve Fultz (January 2018). 2) Economic Development Activity Report from Keri Sigman(January 2018). NEW BUSINESS 1) Consider Resolution accepting the Avenue rand southwesterly Redevelopment Project Street property Indian Cr Creek)generally located northwesterly of South 7 Ave Caldwell. of the Caldwell East Urban Renewal Agency Financial Audit as conducted by Eider Bailly 2) Consider approval LLP the Urban 3) Consider Business Incentive Program Renewal Ag ncyaTreasDureibuting,Inc. 4) Consider invoices for payment fi o rn VENDOR AMOUNT DESCRIPTION IIMII $4,500.00 January Attorney Fees City of Caldwell—Econ. $18,000.00 February/Economic Dev. Contribution Development Zions Bank Corp Trust $2,000.00 Annual Trustee Fees/2016 Series Bond $ 0 Annual Trustee Fees/2006A&2008 Series Bond Zions Bank Corp Trust 3,500.0 Eide Bailly $3,000.00 2017 URA.Audit Fees/2nd Payment McAlvain Construction $625,043.8 Indian Creek Plaza/Construction/January ICRMP $4,463.00 ICRMP In Payment 50% City of Caldwell $8,000.00 City Accounting Fees/FY-2018 AMFEC INC $25,000.00 BIG Payment#4 TOTAL $693,506.80 CALDWELL URBAN RENEWAL AGENCY MINUTES 7:00 P.M. Monday,February 12,2018 (ROLL CALL) The regularly scheduled meeting of the Caldwell Urban Renewal Agency convened at 7:00 p.m. in the Caldwell Police Department Community Room with Chairman Hopper presiding. The secretary called roll. Present: Commissioner Hopper, Commissioner Porter, Commissioner Warwick, and Commissioner Allgood. Absent: Commissioner Stadick and Commissioner Ramirez. (CONFLICT OF INTEREST DECLARATION) None. (AMEND/APPROVE AGENDA) MOVED by Warwick, SECONDED by Pollard to approve the agenda as printed. MOTION CARRIED (SPECIAL PRESENTATIONS) None. (PUBLIC COMMENTS) None. (CONSENT CALENDAR) 1) Approve minutes from the Urban Renewal Agency Regularly Scheduled Meeting held on December 11,2017; 2) Approve Reimbursement Resolution No. 2018-06 for certain expenditures up to$4,500,000 for certain capital expenditure projects within the Agency's boundaries, including but not limited to the Indian Creek Plaza construction and renovation; 3) Approve Resolution No. 2018-02 authorizing the execution of the Banner Bank Commitment Letter for Indian Creek Plaza in the amount not to exceed$4,400,000; 4) Approve Resolution No. 2018-01 authorizing the execution of a Purchase & Sale Agreement with Price Pump Manufacturing Company of approximately 6.0 acres located within the Sky Ranch Business Center and acceptance of Earnest Money in the amount of$10,000.00; 5) Approve Resolution No. 2018-03 granting an easement for sanitary sewer mainlines across the Urban Renewal Agency property to provide sewer service for 1704 KCID Road; 6) Approve Resolution No. 2018-07 ratifying the License Agreement for the 400 Lateral Realignment Project(Pioneer Project#24-2017) in conjunction with Pioneer Irrigation District authorizing the 400 Lateral Realignment Project to proceed in its planned location; 7) Approve Resolution No.2018-04 authorizing the execution of the No-Default Certificates for the URA Bond Series 2012(Canyon County Administrative Building Project)and Series 2016(Caldwell School District No. 132 Improvements Project). MOVED by Porter, SECONDED by Warwick to approve the Consent Calendar as presented. Roll call: Yes: Porter, Warwick,Allgood,and Hopper. Those not present: Stadick and Ramirez. MOTION CARRIED Page 1 of 7 OLD BUSINESS: (JANUARY ECONOMIC DEVELOPMENT REPORT—STEVE FULTZ) Steve Fultz outlined the January Economic Development Report. Projects Capitol Distributing: Continue to work with the company finalizing details in preparation for closing on property. Participated in a round table discussion with the company's development team Project Cold: Currently under construction. Working on URA job creation grant...also working now on potential acquisition of second lot for expansion/related industry. Project Russell: Continue working with this project...primary interest is in Sky Ranch and Skyway Business Parks(Van Auker site),needing 15-20 acres for an international food processing business. 300+jobs with $20+ million investment. He reported that a company representative would be in town in late January to review the site again. Project Air: Small industrial user looking for 1.5 acre site to build first phase 10,000 sq. ft. shop and office. Continue to work with Idaho Power on expansion of power the Sky Ranch area in order to accommodate current and future demands. Project Reagan: The current status of the project is under contract for the lots, with an expected closing date in mid-February. Project Plastic: Continue to work with this lead. The business is considering relocation from California to the Sky Ranch Business Center and in operation by summer 2018. The company is in s . s the plastics production industry and will build approximately 12,00 0 q ft. of p ace for p roduction. The URA site of 1.3+acres adjacent to AMFEC did not fit, so we are working on other sites in the area. Project Arrow: This is a new project. An aerospace business from California,they are considering a site in Skyway Business Park. Initial facility of 40,000 sq. ft. Working with a the company's local representative on this project,total investment and job creation is not yet available. Project Pipe: New project...company from CA looking to relocate (light industrial) desires to purchase 6 acres for 40,000 sq ft building. 35-40 jobs. PSA is under consideration. Working with Freehold Development on additional property to be marketed(in Sky Ranch). Skyway Park: Large(12 acre)has been sold. More information coming soon. Project Haul: New project considering site in East Caldwell for office and distribution. Working with their realtor on indentifying appropriate site...desires visibility from Highway, needing 6-10 acres. Project has gone dark Project Supply: Working with Van Aukers on another project in Caldwell that would require the construction of a 60,000+sq.ft. office and distribution center. Primary site is in East Caldwell. Working with business that will be leasing the Strider Group building in Sky Ranch (ProPak Corporation). Coordinated with Idaho labor on job fair for the company. Should be in operation in March 2018. Page 2 of 7 (JANUARY ECONOMIC DEVELOPMENT REPORT—KERI SIGMAN) Chairman Hopper reported that Ms. Sigman was not present. A written report provided. Projects Indian Creek Plaza: Weekly teams meetings to continue progress. Continued fundraiser/donor development work. Coordination with DCACP Executive Director & President. Final coordination with DC and adoption of the management agreement. Coordination with Public Works/Engineering for the Sweetwater ISM floor floorplan to prepare for construction bids. Worked with Indian Creek Plaza staff regarding plaza signage. Local Business Improvement District: Ongoing coordination for issuing contracts to complete construction of plaza facades.Plaza fagade construction started. Indian Creek Musical Art Park: Site planning and coordination for the site. Purchased the Freenotes Sculptured Collection — includes 6 musical instruments. Completed MOU with the artist (Original Ironworks) for the sculptural art within the park. Consulted with The Land Group on the park design. Business Improvement District: Completed work on 2nd year notices and newsletter to be mailed in February. Trolley Square Project: Reel Movie Theater broke ground and is under full construction. Working towards a spring, 2018 opening. Continued assisting Gardner Company on two remaining retail pads. Community Development Block Grant(CDBG): Coordinated overlapping CDBG and downtown revitalization projects with Elizabeth McNannay. College Marketplace: Coordination with Rocky Mountain Development regarding retail pads. Grace Assisted Living is under construction. Buxton: Completed final year two matches with the Buxton project manager. Match Reports will be provided in February. Creekside Redevelopment RFP: Worked with the City Attorney to draft and complete the new Request for Proposals for the Creekside Redevelopment formally known as the Saratoga Hotel Site Redevelopment Project. Recruitment All listed recruitment projects are still active projects and are in some form of business development,site selection,or start-up. • Restaurants • Retailer • Specialty Store • Hospitality • Brewery • Special Event Center Other Professional meetings with various industries regarding downtown redevelopment and other commercial retail development throughout the City. Presentation to the Caldwell Lions Club. Downtown Business Coordination: Continued working with businesses and property owners on construction/revitalization efforts in downtown(utility relocations,facades,street improvements,etc.). Marketing: Continued collaboration with Destination Caldwell and Sunnyslope Wine Trail regarding 2018 marketing plans.Completed a Caldwell business recruitment video. Page 3 of 7 Arts: Met with Karen Bubb, City of Boise Arts Commission regarding preparing for a Treasure Valley art planning initiative. NEW BUSINESS: (CONSIDER RESOLUTION NO. 2018-05 ACCEPTING THE CREEKSIDE REDEVELOPMENT PROJECT RFP FOR PROPERTY LOCATED GENERALLY LOCATED NORTHWESTERLY OF SOUTH 7T" AVENUE AND SOUTHWESTERLY OF MAIN STERET (NORTH OF INDIAN CREEK] IN DOWNTOWN CALDWELL) Attorney Mark Hilty, 1303 121" Avenue Road, Nampa, presented the staff report regarding the content of the proposed Request for Proposals document. He noted that the scope of uses for the site has been broadened as outlined within the RFP. He recommended approval of the RFP noting that the document will be published in the local newspaper and distributed to potential interested parties. MOVED by Warwick, SECONDED by Allgood to approve Resolution No. 2018-05 accepting the Creekside Redevelopment Project Request for Proposal(RFP)document as presented. MOTION CARRIED (CONSIDER APPROVAL OF THE CALDWELL EAST URBAN RENEWAL AGENCY FINANCIAL AUDIT IS CONDUCTED BY EIDE BAILLY LLP) EIJay Waite outlined the contents of the Urban Renewal Agency audit report. He noted that in January 1, 1998, the base year assessed values of taxable properties within urban renewal boundaries, including the impact area, totaled $60,492,278. As of September 30, 2017, assessed values within the same area now totals$502,227,099. This increase of assessed values established an incremental value of$441,734,821 as of September 30,2017. The property tax increment revenue estimated for FY-2018 equals $7,705,891 an increase of$572,837 or 8.15%from property taxes levied in 2017 of$7,023,288. Principal and interest payments for bonds due in 2018 equal $3,402.969. Estimated property tax increment revenue divided by debt service yields a debt service coverage ratio of 2.26 in 2018. Mr. Waite recommended its approval noting that the audit will be presented to City Council members at their meeting on January 20,2018. MOVED by Allgood, SECONDED by Porter to accept the audit report as presented by URA Treasurer EIJay Waite. MOTION CARRIED (CONSIDER BUSINESS INCENTIVE PROGRAM GRANT APPLICATION FROM CAPITOL DISTRIBUTING,INC.) Steve Fultz outlined the criteria for the business incentive program. He recommended approval of the application submitted for consideration by Capitol Distributing. MOVED by Porter, SECONDED by Allgood to accept the Business Incentive Program Grant Application from Capitol Distributing as presented. MOTION CARRIED (CONSIDER INVOICES FOR PAYMENT FROM THE URBAN RENEWAL AGENCY TREASURER) EIJay Waite,Treasurer,provided the list of invoices for payment and ratification: VENDOR AMOUNT DESCRIPTION HMH $4,500.00 January Attorney Fees City of Caldwell—Econ. $18,000.00 February/Economic Dev. Contribution Development Zions Bank Corp Trust $2,000.00 Annual Trustee Fees/2016 Series Bond Page 4 of 7 Zions Bank Corp Trust $3,500.00 Annual Trustee Fees/2006A&2008 Series Bond Eide Bailly $3,000.00 2017 URA Audit Fees/2nd Payment McAlvain Construction $625,043.8 Indian Creek Plaza/Construction/January ICRMP $4,463.00 ICRMP Insurance/2n1 Payment 50% City of Caldwell $8,000.00 City Accounting Fees/FY-2018 AMFEC INC $25,000.00 BIG Payment#4 TOTAL $693,506.80 MOVED by Porter, SECONDED by Warwick to approve the invoices for payment as presented. MOTION CARRIED (CONSIDER RATIFICATION OF INVOICES FROM THE URBAN RENEWAL AGENCY TREASURER) VENDOR AMOUNT DESCRIPTION McAlvain Construction $284,149.22 Indian Creek Plaza Construction/December GGLO $4,533.00 Indian Creek Plaza Design/November Eide Bailly $3,000.00 2017 URA Audit Fees/Is'Payment City of Caldwell $18,000.00 Econ. Development Contribution/January Canyon County Tax $4,453.13 Property Tax: 602 Main Street and 217 S. Kimball HMH $4,500.00 December/Attorney fees Skinner Land Survey $4,020.00 Land Survey/Sky Ranch Properties TOTAL $324,155.35 MOVED by Warwick, SECONDED by Allgood to ratify the invoices as presented. MOTION CARRIED (TREASURER'S REPORT) EIJay Waite, URA Treasurer at 411 Blaine Street, presented the Monthly Cash Reconciliation Report and recommended its approval: First Interstate Bank-Checking Ending Balance as of January 31,2018 $8,620,370.90 Restricted amount(Other Tax Districts) $6,056,581.45 Restricted(Caldwell) $1,431,288.72 Restricted(URA Job Creation) $1,132,400.73 Bank of the Cascades Time CD#1 Ending Balance as of January 31,2018 $250,000.00 (Balance will remain constant. Interest earnings deposited to Business Checking) Bank of Cascades—Operating 8,620,870.90 Bank of Cascades—CD 250,000.00 LGIP 110,348.23 Local Government Investment Pool Ending Balance as of January 31,2018 $110,348.23 Zions Bank(Bond Debt Service) Ending Balance as of January 31,2018 $3,525,611.31 Page 5 of 7 MOVED by Warwick, SECONDED by Porter to approve the cash reconciliation/financial report as presented. MOTION CARRIED TREASURER'S REPORT: Plaza Financir�Q: He reported on the Reimbursement Resolution and the Letter of Intent from Banner Bank, which were approved tonight under the Consent Calendar regarding the Indian Creek Plaza Project. He expressed his appreciation to Banner Bank for their promptness in preparing the documents for tonight's meeting. He noted there is a $6,625.00 bank origination fee and a $3,000.00 bank legal counsel fee. A condition of the bond requires that the URA operating bank account be transferred to Banner Bank. Mr.Waite reported that he is in support of that requirement. Mr. Hathhorn, Banner Bank VP & Relationship Manger at 950 W. Bancock, Suite 101, Boise, expressed appreciation to the URA Commissioners for approving the documents and for the opportunity work with staff in finalizing the project. (ATTORNEY'S REPORT) Capitol Disti-ibuthzQ: Mark Hilty reported that the due diligence period was administratively extended to April 30, 2018 for the Purchase & Sale Agreement with Capitol Distributing. This action was necessary due to the lengthy negotiation period with Pioneer Irrigation regarding the 400 Lateral Project. Capitol Distributors is also awaiting results of tax incentive grants, which are referenced in the conditions to close the transaction. The extension was administratively executed inasmuch as the original expiration date was today. (CHAIRMAN'S REPORT) Chairman Hopper reported on the success of the many construction projects underway in the downtown area. (COMMISSIONER REPORTS) None. (ADJOURNMENT) MOVED by Warwick, SECONDED by Allgood to adjourn at 7:41 p.m. MOTION CARRIED Approved as written this 12th day of March 2018. mis loner Ho Commissione�'o Co issibner W wick Com ' sioner Sta ick Commission All ood Page 6 of 7 r Commission r Ramirez ®®®eoeo®e®®®® ATTEST: oo®o®ooh'`®°p• �`�'®• �.�� Debbie�Geyer,UdRA e creta °,��'•® *•' ®; ® • ®®®O®ibM�N�� ®Are®eeenee®®®®+ Page 7 of 7