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Home My WebLink About2018-03-12 URA MINUTES CALDWELL URBAN RENEWAL AGENCY MINUTES 7:00 P.M. Monday,March 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 Stadick,Commissioner Allgood, and Commissioner Ramirez. (CONFLICT OF INTEREST DECLARATION) None. (AMEND/APPROVE AGENDA) MOVED by Porter, SECONDED by Warwick to amend the agenda: • Consent Calendar Item #I by adding "Approve ininutes fi-om the Urban Renewal Agency Special Meeting held on March 5, 2018." • "Executive Session pursuant to Idaho Code, Section 74-206, Subsection(c)for the purpose of discussing the acquisition of or an interest in real property not owned by a public agency." Reason: The items were not available at the time the agenda was posted. MOTION CARRIED (SPECIAL PRESENTATIONS) None. (PUBLIC COMMENTS) Mike Dittenber, Caldwell Housing Authority questioned if the Urban Renewal Agency would consider donating the URA owned property located on 5221 E. Linden Street. He noted that this action would assist with funding capital improvements associated with the proposed CHA housing project in north Caldwell. (CONSENT CALENDAR) 1) Approve minutes from the Urban Renewal Agency Regularly Scheduled Meeting held on February 12, 2018 and the Special Meeting held on March 5,2018; [AMENDED] 2) Approve Resolution No. 2018-09 authorizing the lot split along the Hub Zone boundary of the Caldwell Urban Renewal Agency site located at 1704 KCID Road (parcel #R3529200000) allowing future project eligibility for New Market Tax Credits; 3) Approve Resolution No. 2018-10 accepting the Corporate Warranty Deed associated with the sale of property to Price Pump Manufacturing Company located in the Sky Ranch Business Park. MOVED by Stadick, SECONDED by Allgood to approve the Consent Calendar as amended. Roll call vote: Those voting yes: Stadick, Allgood, Ramirez Hopper, Porter, and Warwick. Those voting no:none. Absent and/or not voting: none. MOTION CARRIED OLD BUSINESS: (FEBRUARY ECONOMIC DEVELOPMENT REPORT—STEVE FULTZ) Page 1 of 8 Steve Fultz was not present to provide his report verbally: Projects Capitol Distributing: Continue to work with the company finalizing details in preparation for closing on property. Due to issues center around the lot being divided by two different census tracts,with one being eligible for federal New Market Tax Credits (NMTC) and the other outside of the qualifying tract,we would request a formal lot split to allow the organization to apply for the NMTC incentive. Project Cold: Currently under construction. Working on URA job creation grant...also working now on potential acquisition of second lot for expansion/related industry. Reviewed sites in Sky Ranch area and other properties in the UR district 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. Company representative in town in early March 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. Continued interest in site off of Smeed Parkway 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 the company's local representative on this project, total investment and job creation is not yet available. Made second visit to site and meeting with development team and Airport staff. Project Peach: Working with company from eastern U.S. on western presence...needing 20,000 sq.ft.site for light manufacturing site producing recreation equipment. 15+employees. 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. Project Rock: new project...light manufacturer from Canada looking at U.S. operation. Has had two site visits in the last month. Desiring 20,000+ sq.ft. with 15-25 employees...will grow to 2 shifts/50 employees. (FEBRUARY ECONOMIC DEVELOPMENT REPORT—KERI SIGMAN) Keri Sigman outlined the contents of her report. She noted the positive response to the recent distribution of the development RFP for the property located at 7t'&Main. In response to questions from Councilman Stadick, Ms. Sigman stated that approvals by businesses to access the alleyway abutting the Indian Creek Plaza would be sought through the staff at Destination Caldwell. In response to questions from Jim Porter, Ms. Sigman stated that there are plans for a Jackson's Store on Cleveland Boulevard near Georgia Street. Projects: Indian Creek Plaza: Weekly teams meetings to continue progress. Continued fundraiser/donor development work. Coordination with DC/ICP Executive Director & President. Coordination with Public Works/Engineering for Sweetwater public restroom and Skate Shoppe construction/bids. Continued work with Indian Creek Plaza staff regarding plaza signage. Coordination with construction team and business owners regarding closure of Arthur Sidewalk for continued plaza construction in March. Local Business Improvement District: Ongoing coordination for issuing contracts to complete construction of plaza facades.Plaza fa9ade construction started. Page 2 of 8 Indian Creek Musical Art Park: Construction coordination for the site. Site demo work and retaining wall construction to begin in March. Business Improvement District: Completed 2°d year notices and newsletter. Trolley Square Project: Reel Movie Theater ongoing construction and coordination with their team regarding parking. On track for spring, 2018 opening. Continued assisting Gardner Company on two remaining retail pads;building plans to be submitted in March. 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 were completed; Buxton made initial contact with the 21 matches. Caldwell to proceed with contact in March. Creekside Redevelopment RFP: Issued 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: Shi Sushi is confirmed and starting construction. • Retailer • Brewery • Special Event Center Other: • Professional meetings with various industries regarding downtown redevelopment and other commercial retail development throughout the City.Presentation to the Native Daughters of Idaho, • 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. NEW BUSINESS: (URA 2017 ANNUAL REPORT PRESENTATION OF ACTIVITIES FOR THE PRECEDING YEAR TO INCLUDE A COMPLETE FINANCIAL STATEMENT) EIJay Waite,411 Blaine Street,provided the report on activities&commitments in 2017: The agency completed construction of the Caldwell School District Improvement Project. Banner Bank financed the project with Increment Revenue Bonds totaling $3,328,584. Bond principal and interest payments are due March Is'and September l It through 2022, The Agency approved the City's Indian Creek Plaza Project and contracted with GGLO for design and construction drawings and with McAlvain Construction Inc. for plaza construction. Banner Bank also financed this project with Increment Revenue Bonds totaling$4,400,000. These bonds fund in April 2018. Page 3 of 8 The agency entered into a purchase/sale agreement with Capitol Distributing to sell 50 acres for the relocation of its corporate offices to Caldwell and the construction of a new distribution facility. The new facility will be 200,000 square feet and employ 130 people. Fresca Mexican Foods began construction of its 188,000 square foot manufacturing facility with completion scheduled for summer 2018. Fresca expects to hire 200 employees. Construction of the Reel Movie Theater began late in the year and will open in June 2018. The agency holds a shovel ready downtown redevelopment site along Indian Creek adjacent to Indian Creek Plaza. Request for proposals will go public in 2018 soliciting potential uses for the property. The realignment of Smeed Parkway and the Canyon Hill Lateral completed in January and opens the door for future airport development and industrial land sales to the east of Smeed Parkway. Business Incentive Grants continued for Johnson Thermal Systems and American Food Equipment Inc. Johnson Thermal Systems employs 30 plus workers and American Food Manufacturing employs 70 plus workers. Carol Mitchell, Deputy Treasurer for the City of Caldwell at 411 Blaine Street, outlined the year-end financial reports: Caldwell East Urban Renewal Agency Statement of Revenues,Expenditures,and Changes in Fund Balances Governmental Funds For Year Ended December 31,2017 Unaudited Calendar Year 2017 EXPENDITURES CURRENT: • Urban Renewal $2,932,743 Capital Outlay $3,579,106 DEBT SERVICE: • Principal $2,450,662 • Interest $ 633,677 • Bond Issue Costs ------------- TOTAL EXPENDITURES $9,596,188 REVENUES • Property Taxes $7,119,108 • Interest $ 33,054 • Gain on sale of land -------------- • Miscellaneous $ 238,532 TOTAL REVENUES $7,390,695 Excess(Deficiency)of Revenues ($2,205,494) Over(Under)Expenditures OTHER FINANCING SOURCES(USES) • Proceeds from Sale of Land $1,947,266 • Loan Proceeds $1,100,000 TOTAL OTHER FINANCING SOURCES $3,047,266 (USES) Net change in fund balance $ 841,772 Fund Balance Beginning $8,414,918 Fund Balance Ending $9,256,690 Page 4 of 8 Caldwell East Urban Renewal Agency BALANCE SHEET Governmental Funds For Year Ended December 31,2017 ASSETS Cash&Cash Equivalents $4,967,994 Tax Receivable $8,145,160 Accounts Receivable $17,492 Notes Receivable $3,973 Restricted Cash&Cash Equivalents $3,522,411 Land held for development $814,001 • TOTAL ASSETS $17,471,032 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE LIABILITIES Vouchers Payable $69,181 Interest Payable ----------- • TOTAL LIABILITIES $69,181 DEFERRED INFLOW OF RESOURCES Unavailable—Property Taxes $8,145,160 FUND BALANCE Non-spendable $3,973 Restricted for: Debt Service $101,094 Bond Revenue Allocation $1,534,667 Reserve Fund $1,885,750 Urban Renewal Projects $5,731,205 • TOTAL FUND BALANCE $9,256,690 Total Liabilities,Deferred Inflows of $17,471,032 Resources and Fund Balance Chairman Hopper reported that no one signed up to speak at the public meeting. MOVED by Porter, SECONDED by Stadick to close the public meeting. MOTION CARRIED (APPOINTMENT OF URBAN RENEWAL AGENCY TREASURER) E1Jay Waite reported on the current financial administrative procedures followed in conjunction with the Caldwell Urban Renewal Agency and the City of Caldwell as stipulated within the URA Bylaws. MOVED by Stadick, SECONDED by Allgood to defer action until the Caldwell Finance Director appointment has been approved by the Caldwell City Council. MOTION CARRIED (CONSIDER RESOLUTION NO. 2018-11 TO MOVE THE CALDWELL URBAN RENEWAL AGENCY'S OPERATING AND MARKETING ACCOUNTS TO BANNER BANK AS A CONDITION OF THE 2018 BOND AGREEMENT) Page 5 of 8 Carol Mitchell, 411 Blaine Street, provided the staff report. She outlined the services to be provided by Banner Bank. The Chairman read the resolution by title: A RESOLUTION OF THE CALDWELL URBAN RENEWAL AGENCY AUTHORIZING THE EXECUTION OF CLOSING THE CHECKING ACCOUNT, MONEY MARKET ACCOUNT AND $250,000 CERTIFICATE OF DEPOSIT CURRENTLY WITH FIRST INTERSTATE BANK AND OPENING A CHECKING ACCOUNT, A MONEY MARKET ACCOUNT AND TRANSFERRING A $250,000 CERTIFICATE OF DEPOSIT TO BANNER BANK AS A CONDITION OF THE ISSUANCE OF THE INDIAN CREEK PLAZA BOND. MOVED by Ramirez, SECONDED by Warwick to approve Resolution No.2018-11 as presented. MOTION CARRIED (CONSIDER RESOLUTION NO. 2018-12 TO APPROVE THE URA CHAIRMAN AND URA TREASURER AS THE SIGNERS FOR THE BANNER BANK ACCOUNTS) The Chairman read the resolution by title: A RESOLUTION OF THE CALDWELL URBAN RENEWAL AGENCY AUTHORIZING THE EXECUTION OF ESTABLISHING SIGNATORIES FOR THE NEW BANK ACCOUNTS WITH BANNER BANK. THE PROPOSED NEW SIGNATORIES FOR THE BANNER BANK ACCOUNTS ARE THE URA CHAIRMAN AND TREASURER. MOVED by Warwick, SECONDED by Allgood to approve Resolution No.2018-12 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 Hamilton,Michelson,and $4,500.00 February Attorney Fees Hilty Attorneys at Law City of Caldwell—Econ. $18,000.00 March Economic Dev. Contribution Development GGLO $21,998.75 Downtown Design-December&January Eide Bailly $100.00 2017 URA Audit Fees—Final Payment McAlvain Construction $366,297.06 Indian Creek Plaza/Construction—February Caldwell Municipal $592.89 2018 Irrigation Assessment Irrigation ACCO Engineering $18,370.00 TVCC Repairs Johnson Thermal Systems $12,500.00 BIG Payment#8—FINAL TOTAL $442,348.59 MOVED by Warwick, SECONDED by Ramirez to approve the invoices for payment 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: Page 6 of 8 First Interstate Bank-Checking Ending Balance as of February 28,2018 $6,523,417.47 Restricted amount(Other Tax Districts) $4,620,563.61 First Interstate Bank Ending Balance as of February 28,2018 $250,000.00 (Balance will remain constant. Interest earnings deposited to Business Checking) Local Government Investment Pool Ending Balance as of February 28,2018 $110,476.25 Zions Bank(Bond Debt Service) Ending Balance as of February 28,2018 $5,750,037.33 MOVED by Porter, SECONDED by Warwick to approve the cash reconciliation/financial report as presented. MOT10N CARRIED (TREASURER'S REPORT) Hickman Property: E1Jay Waite reported that the parcel was purchased with URA funds and therefore a determination should be made by the Agency's Commissioners concerning the residence and parcel. He noted that a map will be provided at the April meeting concerning the site and surrounding properties. Chairman Hopper reported that the appraised value of the two-acre parcel and residence amounts to $242,000. Options were discussed concerning the disposition of the parcel/residence. It was recommended that a realtor be contacted concerning listing the site. (ATTORNEY'S REPORT) Mark Hilty reported that the Capitol Distributors transaction is still pending closure. (CHAIRMAN'S REPORT) U pcombzg Events: • March 30,2018 Initial open house for the Indian Creek Plaza. • May 1,2018 Grand opening of the Caldwell Veterans Memorial Hall Keri Sigman provided in update report concerning the Indian Creek Music Park, the Bird Stop, and the Flying M. (COMMISSIONER REPORTS) None. (EXECUTIVE SESSION PURSUANT TO IDAHO CODE, SECTION 74-206 SUBSECTION (C) FOR THE PURPOSE OF DISCUSSING THE ACQUISITION OF OR AN INTEREST IN REAL PROPERTY NOT OWNED BY A PUBLIC AGENCY. MOVED by Porter, SECONDED by Stadick to convene into Executive Session pursuant to Idaho Code, Section 74-206 Subsection(c)for the purpose of discussing the acquisition of or an interest in real property not owned by a public agency at 7:42 p.m. Roll call vote: Those voting yes: Stadick,Warwick, Stadick, Allgood, Ramirez, and Hopper. Those voting no:none. Absent and/or not voting: none. MOTION CARRIED Chairman Hopper reported that no decisions were made or action taken within the Executive Session. Page 7 of 8 (ADJOURNMENT) MOVED by Stadick, SECONDED by Warwick to adjourn at 8:02 p.m. MOTION CARRIED Approved as written this 91"day of April 2018. mi 'oner Ho r Commissio4w Porter Co 4sione W Jck a Com 'ssioner to is y Corot issioner llg od OF,CAZo ♦ N••�ot• '. �i Co missioner rrez . C� • w 5. ATTEST: W A xi '�•• .`��N92I Nd .� Debbie Geyer, GRA Secretar Page 8 of 8