HomeMy WebLinkAbout2022-01-20 URA MINUTES - SPECIAL MTGCALDWELL URBAN RENEWAL AGENCY
MINUTES
Special Meeting
January 20,2022
12:00 p.m.
(ROLL CALL)
The special meeting of the Caldwell Urban Renewal Agency convened at 12:00 p.m. in the Caldwell City Hall
Conference Room with Vice-Chairman Porter presiding.
There were no declarations of conflict by the commissioners concerning the agenda item.
The agency secretary called the roll. Present; Commissioner Porter, Commissioner Warwick, Commissioner
Allgood, Commissioner Ramirez, and Commissioner Doty.
NEW BUSINESS:
(ACTION ITEM: CONSIDER RESOLUTION NO. 2022-02 TO APPROVE AND EXECUTE THE
ASSIGNMENT OF THE PURCHASE & SALE AGREEMENT, ASSIGNMENT OF LEASES,
COMPENSATION AGREEMENT AND BROCHURE REGARDING PROPERTY LOCATED AT
510 ARTHUR STREET)
Mark Hilty, Agency Attorney at 1303 12"* Avenue Road, Nampa, provided the staff report via Zoom. Mr.
Hilty outlined the contents of the Purchase & Sale Agreement, Assignment of Leases, Compensation
Agreement and Brochure regarding the subject property. He provided a map indicating the dimensions of
the parcel at 510 Arthur Street. He noted that the current plan for the parcel is surface parking but potentially
could have a parking structure constructed at the site to accommodate downtown parking needs. Closing
transactions would be scheduled within 60 days of approval of the Purchase & Sale Agreement. There
appears to be no complication with the title commitment. There was an error on the legal descriptions labeled
as "Exhibit A", which has already been noted by the title company and will be corrected. The Compensation
Agreement indicates that a fee of not less than 4.5% will be paid by the Agency at closing.
Mr. Hilty reported that he has reviewed the tenant agreements, which are currently on a month-by-month
basis. Two of the older lease documents have not been updated to indicate ownership by Tollsbros, LLC
rather than the Toolson Family Limited Partnership. There is a 30-day termination period written into the
lease agreements.
In response to questions from Commissioner Doty, Mr. Hilty stated that the Agency would retain the revenue
from the lease payments.
In response to questions from Commissioner Doty, Ms. Mitchell reported that the bank statement as
presented at the recent Urban Renewal Agency meeting on January 10, 2022, indicates a balance of $7.5
million. Forthcoming tax revenue payment from Canyon County will increase the balance to approximately
$11 million.
Commissioner Allgood inquired if there are environmental issues at the site.
Norm Brown of Rallens Realty reported that there is no record of an environmental study on record. Mr.
Hilty noted that parcel could be reviewed by a fum concerning for environmental issues during the due
diligence period.
In response to questions from Commission Ramirez, Mr. Hilty indicated that the construction of the parking
lot could commence within the year, as determined by the URA Commissioners.
Commoner Allgood commented on the need for an alternative downtown parking area in conjunction with
construction starting at the vacant parcel located at 7*^ and Main.
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