PUEBLOURBANRENEWALAUTHORITY
Special Meeting Minutes
Tuesday, February 21, 2012
Noon at the Pueblo Convention Center
MEMBERS PRESENT / MEMBERS ABSENT / STAFF / GUESTSGary Trujillo Andrew Trainor
Barb Bernard Don Bruestle
Midori Clark Rita Gersick
Beth Gladney Roger Gomez
Barb Vidmar Chris Kaufman / Sandy Daff
Sean Tapia / John R. Batey
Christine McCarthy
Kristi Alfonso
Andrea DeLaGarza
Lunch was served at noon. Pueblo Urban Renewal Authority (PURA) Chairman Gary Trujillo called the meeting to order at 12:11 p.m.
APPROVAL OF AGENDA
Commissioner Barb Bernard motioned to approve the agenda, Commissioner Don Bruestleseconded the motion, and the Board unanimously approved.
NEW BUSINESS
Lot 11 Development and Disposition Agreement with Hendricks Communities
Board Chair Trujillobegan the discussion detailing the history of the Development and Disposition agreement with Hendricks Communities. Trujillo stated that in 2010, the city had possession of the “old Health Department” site. A request for proposal (RFP) was issued to developers. Two proposals were received; Hendricks Communities LLC and Solar Village. Both proposed projects contained residential and commercial components. Neither of the two developers was able to come forward with bonafide financing for their projects. The Board chose to revisit the applications when the financing was clear. Once the developers were able to specify financing, the proposals were reviewed and accepted by the Board. At this point, Solar Village opted out of the running, citing that the market for their project was not justified.Initially, the Hendricks project would consist of 84 units which then decreased to 81 units, square footage stayed the same. The new development will include 81 parking spaces and street parking for the ground floor retail units.
Currently, Trujillo stated, the Market Study has not been completed but will be finalizedbefore Hendricks submits their application to CHFA. Treasurer Barb Bernard noted that the entire City of Pueblo and Pueblo West are included in the market study to determine the need for residential units.
Trujillo stated that Hendricks Communities has completed tax credit projects in Brighton, Fort Collins and Colorado Springs. Hendricks Communities is highly qualified, maintain a great product and are respected in the community, Trujillo added.
Vice Chair Andrew Trainor requested that the Board discuss the timeline of the CHFA process. Treasurer Bernard stated that there are approximately 20 letters of intent. She noted that in the first round of the application process, CHFA will allocate $25.753 million in tax credits, approximately $7 million per approved project. The first round of applications is due March 1, the second round must be submitted by May 1, and announcements will be made on approximately July 1. Bernard stated that the competition is great. Bernard added that if the Board anticipates that this project will bring well paid families to the downtown area in order to drive the commercial segment, she does not see it happening.
Chairman Trujillo stated that the agreement with Hendricks Communities will commit the lot for two years. Commissioner Midori Clark thought that PURA will not lose either way because there are not any other opportunities on the Verizon. Bernard stated that she has been very vocal in not supporting this project and requested that the agreement be changed from two years to one year. Trujillo stated that the developer was unwilling to do so in order to benefit from the time and money they will spend to be successful; they required a two year commitment.
Trujillo stated that there is minimal risk compared to the benefit this project will bring to downtown by creating activity and eliminating an empty lot.
Trujillo addressed the Board with regard to the Regular Board meeting and the voting process for the Lot 6 agreement. He requested that the Board recall the vote; eight voting members attended that day, there were three abstentions that left four favorable votes. Therefore, the majority voted for the project and the motion passed. Trainor motioned to withdraw the approval but the Board did not vote to approve that motion, therefore the motion to approve the agreement stands. Trujillo stated that he discussed this with legal counsel Paul Benedetti where he indicated that this kind of withdraw could result in a lawsuit from the developer. Commissioner Barb Vidmar thanked Trujillo for the additional discussion with the majority of the Board. Kaufman recommended that the developer implement red roofing in the design of the project. Trujillo added that the developer is in discussions with the City in order to rezone the lot.
April 2012 International Council of Shopping Centers (ICSC) Road Show Event
PURA Executive Director, John Batey updated the Board on the ICSC event. Batey stated that he has been participating in the ICSC meetings and was able to get the group to bring the Road Show Event to Pueblo this year. This event includes real estate experts, brokers, finance people and developers, who hold a panel discussion on how best to meet the development needs of the community. Batey stated that Kristi Alfonso, PURA Communications Director will promote this event.
OLD BUSINESS
Downtown Pedestrian Alleyways Project
Batey updated the Board on the planning process of the Pedestrian Alleyways Project. Design Studios West held an Open House on Valentine’s Day where 50-55 people attended. The community had great input in terms of what they wanted to see. The Koncilja’s made several visits and have been very engaged in the process.
2012 PURA Goals Prioritizations
Batey reminded the Board to turn in their priorities in order for PURA Staff to compile by the March Regular meeting.
MEETING ADJOURNMENT
Trujillo adjourned the meeting at 1:04 p.m.
Meeting minutes respectfully submitted by,
Andrea DeLaGarza
PURAExecutiveAssistant