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HomeMy WebLinkAbout2021-04-26 URA Minutes-Special Meeting CALDWELL URBAN RENEWAL AGENCY MINUTES 6:00 P.M. Monday,April 26,2021 (ROLL CALL) The regularly scheduled meeting of the Caldwell Urban Renewal Agency convened at 6:00 p.m. in the Caldwell Police Department Community Room with Chairman Hopper presiding. Chairman Hopper confirmed that no commissioners had any conflict of interest with the agenda item. The secretary called the roll. Present: Commissioner Hopper,Commissioner Porter, Commissioner Warwick, Commissioner Allgood and Commissioner Ramirez. Absent: Commissioner Wagoner. MOTION CARRIED NEW BUSINESS: (ACTION ITEM: CONSIDER RESOLUTION NO. 2021-15 AUTHORIZING THE EXECUTION OF THE DISPOSITION AND DEVELOPMENT AGREEMENT WITH 7TH & MAIN DEVELOPERS LLC FOR THE CREEKSIDE REDEVELOPMENT PROJECT LOCATED AT 7TH &MAIN STREET IN DOWNTOWN CALDWELL) Mark Hilty,Agency Attorney at 1303 12th Avenue Road,Nampa,provided the staff report and outlined the contents of the Disposition and Development Agreement with 7th&Main Developer, LLC. He explained that Dean Pape (Development Manager) and Anne Kunkel (Developer's Legal Counsel) were joining the meeting via Zoom. Mr. Hilty explained that the format of the DDA document is similar to what was used for other downtown sites such as the theater. The DDA contains language addressing the real estate transaction and the re- development project. Valbridge Appraisals will be contracted as the appraiser for the site. It is anticipated that the appraisal will be completed within the next few weeks. The title report has been received with no areas of concern. The closing date has not been set at this time. The project portion of the DDA addresses items such as the retail/housing/hotel/trash compaction site. The public component of this project addresses the infrastructure financed by the Urban Renewal Agency. It was noted that the Planning&Zoning Department is currently working on a redesign project in the area of South 7th Avenue between the Indian Creek Pedestrian Bridge and Main Street as a pedestrian plaza. Mr. Pape is in favor of the potential redesign with the understanding that City staff will be in communication concerning the project's details as it moves forward. Mr.Hilty referenced page 21 of the DDA addressing any potential changes: If Developer desires to make any substantial change in the Final Construction Documents after their approval, such proposed change shall be submitted to Agency for approval. For purposes of the Section,and this Section only, "substantial change"is defined as any change in the Final Construction Documents, which by such change will reduce the value or cost of the Project(following completion) by more than fifteen percent (15%), or change the size of the Project by more than fifteen percent (15%). Such change in the Final Construction Documents shall, in any event, be deemed approved unless rejected,in whole or in part,by written notice thereofsettingforth in detail the reason therefore, and such rejection shall be made within such 10-day period. Mr.Hilty noted forthcoming steps concerning the project: • Work with City staff regarding approval of the design by the Design Review Commission • Insurance review by legal counsel • Public project approval by the Urban Renewal Agency Commissioners • Groundbreaking by December 1,2021 • RFP for the hotel development drafted by deChase Development Page 1 of 2 Dean Pape of deChase Development(via Zoom)spoke in favor of the project. He noted that the ability for significant changes to the project would be fifteen percent (15%). The URA Commissioners would be informed throughout the project. This provision allows for flexibility in completing the project and would address monetary and material changes. In response to questions from Chairman Hopper, Mr. Pape noted that the re-use appraisal is the basis used for calculating the fifteen percent(15%)provision. Mr. Hilty emphasized that the developer must quantify the basis for the change and the calculation eligible for the fifteen percent(15%)factor. Chairman Hopper reported that changes would be reviewed and accepted by the City Development Team and then reported to the URA Commissioners. In response to questions from Commissioner Ramirez,Mr.Hilty and Mr.Pape stated that the changes would be an accumulative/holistic overview. Discussion followed concerning the propose timeline for the hotel development. Mr. Pape expressed the necessity for an upsurge in the economy to transpire before moving forward with the RFP in order to allow for a quality outcome. They are currently looking to collaborate with a third-party consulting group that has expertise in dealing with hotel establishments. The proposed date to issue an RFP is 2022. Chairman Hopper read the resolution by title only: A RESOLUTION OF THE URBAN RENEWAL AGENCY OF THE CITY OF CALDWELL, IDAHO APPROVING AND AUTHORIZING THE EXECUTION OF THE DISPOSITION AND DEVELOPMENT AGREEMENT WITH 7TH&MAIN DEVELOPER LLC MOVED by Allgood, SECONDED by Warwick to approve Resolution 2021-15 and authorize its execution by the URA Chairman. Roll call vote: Those voting yes: Allgood, Ramirez, Hopper, Porter,and Warwick. Those voting no: none. Absent and/or not voting: Wagoner. MOTION CARRIED (ADJOURNMENT) MOVED by Allgood,SECONDED by Ramirez to adjourn at 6:30 p.m. MOTION CARRIED Appr, :4 as/ itten ti.s 10th day of May,2021. •�� / .%' rI ATTEST: �p, _, ' Ener Hoppe Debbie Geyer,URA Sec I I V r2litt.ftalk7--4111 "4111.1111M .mIssioner -o I_A_. .l (Atl CJI— s‘,"1 JI— '' missioner Warwick wisy sc14f Tim�`'•.. Comm issiIner Wal.ner 'd OltP44tt o w •44i Com sinner Ilgood jai SEAL hi Li . -.P. A., ........4"/ Corn ,'ssione Ramirez ''. /2 * 00 Page 2 of 2