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JOINT STUDY SESSION
LAKEWOOD CITY COUNCIL
AND
LAKEWOOD PLANNING COMMISSION
July 15, 2002
MINUTES
ITEM 1 - CALL TO ORDER
Mayor Steve Burkholder called the meeting to order at 6:00 p.m. in the City Council Chambers of the Lakewood Civic Center South Building, 480 S. Allison Pkwy., Lakewood, Colorado.
Item 2 - ROLL CALL
City Council Members:
Mayor Steve Burkholder, Presiding
Tom Booher
Ray Elliott
Jackie Herbst
Debbie Koop
Barbara Green Martin
Bob Murphy
Jean Saum
Mike Stevens
Cheryl Wise
Carol Kesselman (Absent)
Planning Commission Members:
Charles Choi
Andrea Hollen
Wilmae Malm
William Marino
Tom Quinn
Ed Peterson
Kenneth Lloyd (Absent)
Staff in attendance:
Mike Rock, City Manager Tami Fischer, Director, HFS
Roger Noonan, City Attorney Jacque Wedding Scott, Director, FIN
Frank Gray, Director, CPD
Joni Inman, Director, CMO
Full and timely notice of this City Council/Planning Commission Study Session had been given and a quorum was present.
ITEM 3 - PRESENTATION - COLFAX/WADSWORTH PUBLIC
FINANCE AGREEMENT
Mayor Burkholder made opening remarks regarding the joint study session and the long-awaited presentation on the status of development of the West Colfax/Wadsworth site.
City Manager Mike Rock opened the presentation with a brief description of the conceptual plan and Redevelopment Agreement for the proposed Creekside Shopping Center. Rock provided the Council and Commission with background information that reinforced the importance of the project. According to recent Denver Regional Council of Government figures, Lakewood captures only $316 per capita in retail sales tax revenue while the average for the region is $569.
Details of the Public Finance Agreement were attached to the meeting agenda. Rock reinforced several points within the detailed document. 1) Lakewood is guaranteed $1 million annually in revenue from the project over a 20-year period. 2) The developer would impose a Public Improvement Fee of 3.5 % and Lakewood will receive half of the PIF revenues over the Proforma Projections. 3) All developer incentives are tied directly to public and or public-related improvements such as environmental work, drainage, storm systems and power line relocations. 4) The City will temporarily waive its 2% sales tax in the Plan area. 5) The City will receive its full 2% sales tax after the bonds are paid off. 6) If for some reason the City is unable to re-impose its sales tax at that time the developer will continue to collect a 2% PIF and remit it to the City.
Rock provided more detail on the actual funding mechanisms for the project. He also provided Council and Planning Commission with information on the developer's contribution to the Vance Terrace Housing project and the relocation plan for current tenants.
Mark Goldberg, developer of the project, addressed Council and Planning Commission. He provided a progress report on lease negotiations with WalMart and read a letter, addressed to Mike Rock, from WalMart Real Estate Manager Roger Thompson. The letter emphasized WalMart's interest in the Colfax/Wadsworth site and indicated that they hope to have the project presented to the Corporation's Executive Committee during the first week of August.
A question and answer period followed the presentation.
The Council directed staff to bring the Public Finance Agreement back to them in formal session on Monday, July 22, for authorization to have the city manager enter into the agreement.
ITEM 4 - COMMENTS FROM MAYOR AND COUNCIL AND
PLANNING COMMISSION
Charles Choi provided Council with a brief update on the progress of the Comprehensive Plan including the establishment of a testing group to provide feedback on the useability and readability of the document.
Jean Saum inquired about a tour of the Whitlock Center.
Debbie Koop welcomed her husband's parents.
Mike Stevens updated the Council on progress being made regarding a solution
to the parking problems along Cornell.
Mike Stevens also informed the Council about his part-time position as a talk-show
host on KNRC Radio.
Tom Booher commented on the West Chamber Quarterly Luncheon, the Blockbuster Run for St. John's Hospice and his work with the Hutchinson Homeowners Association.
Bob Murphy provided an update on the slogan contest, which drew 550 entries.
Item 5 - COMMENTS FROM STAFF
None.
ITEM 6 - ADJOURNMENT
Mayor Burkholder adjourned the meeting at 8:47 p.m.
Submitted by:
Joni D. Inman, Director Mayor & City Manager's Office
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