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Minutes are not a verbatim transcription but rather an attempt to capture the intent of the speaker by the City Clerk.
ITEM 1 - CALL TO ORDER
Chairman Steve Burkholder called the meeting to order at 9:21 p.m. in the Council Chambers, Lakewood Civic Center South, 480 South Allison Parkway, Lakewood, Colorado.
ITEM 2 - ROLL CALL
Those present were: Chairman Steve Burkholder, Presiding
Ed Peterson
Sue King
Mike Stevens
Vicki Stack
Bob Murphy
Cheryl Wise
Ray Elliott
Debbie Koop
Doug Anderson
Diana Allen
Others in attendance: Becky Clark, Director of the Lakewood Reinvestment Authority
Larry Dorr, Lakewood Reinvestment Authority Treasurer/City of Lakewood Finance
Director
ITEM 3 - PUBLIC COMMENT: None
The City Clerk read the following Consent Agenda into the record:
ITEM 4 - RESOLUTION LRA 2007-1 - AUTHORIZING A REVISED BUDGET FOR THE YEAR 2007 FOR THE LAKEWOOD REINVESTMENT AUTHORITY AND FURTHER ADOPTING THE ANNUAL BUDGET FOR THE LAKEWOOD REINVESTMENT AUTHORITY FOR THE FISCAL YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2008, AND ENDING ON DECEMBER 31, 2008, ESTIMATING THE AMOUNT OF MONEY TO BE DERIVED FROM TAX INCREMENT FINANCING AND SETTING FORTH THE APPROPRIATIONS FOR EACH FUND
Becky Clark, Director of the Lakewood Reinvestment Authority (presented slide show). Slide one discussed the Belmar Project within the Alameda corridor area at the southeast corner of West Alameda Avenue and South Wadsworth Boulevard, which is a project in fact. Belmar is 103 acres zoned Planned Development for retail office, hotel and residential. It encompasses 19 City blocks, which contains stores, entertainment, offices and residences. Over 1.2 million square feet of retail is within this development area and of that, 700 has been completed. There are 850,000 square feet of office space, of that, 223,000 have been completed. Proposed residential units consist of approximately 1,300 units and about 339 have been completed.
Slide two depicts various pictures and projects located along the West Alameda Avenue Corridor Redevelopment area. These are not projects that Urban Renewal was a part of but are projects within the corridor of the area. It encompasses all of the commercial properties from Sheridan to Allison Parkway. Some of the projects include DRG offices, Solera Bank at 319 S. Sheridan and the mini-Coors Field facility on Alameda. The first Home Depot, also located within the corridor, is 133,000 square feet of retail. Solera Bank is 6,200 square feet and the grand opening will be in October. Lakewood City Commons is also located within the Lakewood Reinvestment Area but is not an Urban Renewal project. It contains 45 acres of mixed use development and of that, 75,000 square feet of office, 320,000 square feet of retail and restaurants. It houses the City offices, the Cultural Center (which is a state-of-the-art 300 seat theatre), and a regional bus transit center.
Slide three shows the project and the area known as Colfax Wadsworth consisting of the Creekside Shopping Center which is 31 acres totaling 7 lots. Walmart, which is within this center, is 224,000 square feet of the 265,000 square feet within the development. Other tenants within the center include Chipotle, Jimmy Johns, TCF Bank, GNC, Payless Shoes, Supercuts, Gamestop and Cingular Wireless.
The West Colfax Avenue Corridor Reinvestment area, which is the last area that was created and adopted through City Council, includes a task force that provided the recommendation to form this Corridor. A project has yet to be identified within this Corridor, which runs from Sheridan to Simms. A few of the projects, one of which received an award this evening, include Colfax Central which is 15,000 square feet of retail development located on two acres located at the northwest corner of Colfax and Wadsworth, and the other, is the second Home Depot on nine acres with 120,000 square feet of retail.
The last slide depicts potential development opportunities for projects and to have a project identified by way of the West Colfax Avenue Corridor Reinvestment Plan, adopted by City Council on December 12, 2005, there are a couple of safeguards as shown on pages 7 and 11 of this plan. One of which is a Citizen Advisory Group being formed, which would include businesses and property owners along this corridor as well as a representative of West Metro Fire District. This group is to come up with recommendations on a project-by-project basis to identify projects that could potentially be for Urban Renewal or Reinvestment purposes. There are also "do's and dont's" of eminent domain for which Ms. Clark sited a few.
Councilwoman Stack asked that all Council members receive the plans in their boxes and also asked for clarification on the 9,793,000 pass-through on the budget.
Larry Dorr, Lakewood Reinvestment Authority Treasurer/City of Lakewood Finance Director stated that on the bottom of the page referenced by Councilwoman Stack, there is a 4-5 line explanation of the changes. Those expenditures are a pass-through which represent sales tax and property tax increments as well as public improvement fees that are collected at the sites and then passed through to reimburse for the cost of public improvements that are occurring at the sites.
Councilwoman Stack asked if it was possible to separate out the different projects.
Larry Dorr responded that the LRA's budget could be presented as a whole and each of the phases could be broken out separately to show the activities for each area. When we do that, what you will see is that the revenues and expenditures equal each other to the absolute penny and the net is zero.
PUBLIC COMMENT:
Michael O'Berne asked if there is going to be a new hotel at Belmar and if so, where will it be and will it derive a "pillow" tax?
Public comment closed.
Becky Clark responded that a new hotel is proposed and the location has changed. It was to be at the corner of Alameda and Wadsworth but has been moved to the western edge of the plaza because that is a more suitable site.
There is a hotel/motel tax as there is in all hotels and motels within the City of Lakewood and according to the agreement; there will be revenue sharing with that use tax.
Vice Chair Wise: Made a motion for adoption of Resolution LRA 2007-1. Councilman Murphy seconded the Motion.
Vote: 10 Ayes. 1 Nay. (Anderson). The Resolution is adopted.
ITEM 5 - RESOLUTION LRA 2007-2 - DESIGNATING THE PUBLIC PLACE FOR POSTING NOTICES OF PUBLIC MEETINGS OF THE LAKEWOOD REINVESTMENT AUTHORITY DURING 2007 and 2008 PURSUANT TO C.R.S. 24-6-402
Public Comment: None
Vice Chair Wise: Made a motion for adoption of Resolution LRA 2007-2. Councilman Murphy seconded the Motion.
Vote: 11 Ayes. 0 Nays. The Resolution is adopted.
ITEM 6 - APPROVAL OF MINUTES OF LAKEWOOD REINVESTMENT AUTHORITY
Lakewood Reinvestment Authority Board Meeting, October 23, 2006
Lakewood Reinvestment Authority Board Meeting, October 30, 2006
Vice Chair Wise: Made a motion for approval of the minutes of the Lakewood Reinvestment Authority. Councilman Murphy seconded the Motion.
Vote: 11 Ayes. 0 Nays. The motion passed.
ITEM 7 - GENERAL BUSINESS
None
ITEM 8 - ADJOURNMENT
There being no further business to come before the Authority, Chairman Burkholder adjourned the meeting at 9:38 p.m.
Submitted by,
Margy Greer, City Clerk
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