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ITEM 1 - CALL TO ORDER
Chairman Steve Burkholder called the meeting to order at 9:50 p.m. in the Council Chambers of the Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.
ITEM 2 - ROLL CALL
Members in attendance: Steve Burkholder, Bob Murphy, Cheryl Wise, Ray Elliott, Mike Stevens, Jean Saum, Tom Booher, Debbie Koop and Carole Kesselman
Member(s) absent: Barbara Martin, Jackie Herbst.
ITEM 3 - RESOLUTION LRA 2003-5, REVISED VERSION DATED 6/23/03 WITH EXHIBIT I ATTACHED - A RESOLUTION AUTHORIZING THE FIRST AMENDMENT TO PUBLIC FINANCING AMENDMENT BETWEEN THE LAKEWOOD REINVESTMENT AUTHORITY, THE CITY OF LAKEWOOD, CONTINUUM LAKEWOOD DEVELOPMENT COMPANY, LLC, AND THE PLAZA METROPOLITAN DISTRICTS NOS. 1, 2, AND 3 AND AFFIRMING AND RATIFYING CERTAIN OTHER AGREEMENTS.
Bob Murphy made a motion to adopt Resolution LRA 2003-5. It was seconded by Jean Saum.
Steve Burkholder stated that this Resolution is exactly as adopted by City Council earlier.
Debbie Koop asked for information regarding the parking agreement.
LRA Attorney Malcolm Murray stated that the parking agreement sets out how many parking spaces the parking structure will have, it sets out maintenance requirements, insurance, signage, and other details regarding the operation and maintenance of one of the parking structures.
Vote: All Ayes. No Nays. The motion carried.
ITEM 4 - APPROVAL OF MINUTES
Bob Murphy made a motion to approve the minutes of the Special Meeting of the Lakewood Reinvestment Authority of June 23, 2003. It was seconded by Jean Saum. Vote: All Ayes. No Nays. The motion carried.
ITEM 5 - GENERAL BUSINESS
Mr. Tom Gougeon, Continuum Partners, gave an update on the Belmar project. He stated that street utilities and storm drainage construction is currently underway. The beginning of construction is taking place on nine specific buildings from Vance to Saulsbury and from Virginia north to Alameda. There are nine that are permitted in under construction. Century Theatre will be going to the building department in the very near future. Before August there will be 10-12 buildings under construction. The resolution passed tonight will help implement the completion of the bond sale and close the private construction loan and use those funds to continue the construction on site. They are scheduled for a May 2004 opening.
Mr. Gougeon stated that Continuum is financing the two main garages that are being built in the first phase with tax-exempt bonds issued by the Metro District. All of the tenants are relying on those garages as part of the parking supply. Because they are tax-exempt financed, it is difficult to make a promise to a private individual tenant. The commitment is being made to LRA to allow certainty for the tenants, as well.
He stated that citizens can view the status of the project at www.Belmar.Colorado.com.
ITEM 6 - ADJOURNMENT
There being no further business to come before the Authority, Chairman Burkholder adjourned the meeting at 9:57 p.m.
Submitted by
Margy Greer, City Clerk
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