Urban Renewal Authority of Dacono

Urban Renewal Authority of Dacono Meeting AGENDA Wednesday, September 6, 2023 6:00 PM Meeting location: New Annex Building, 512 Cherry Ave - Building C, Dacono, CO 80514 I. Roll Call II. *Approval of the July 10, 2023, Urban Renewal Authority of Dacono Meeting Minutes. III. General Business A. *Consideration and Approval of URAD Resolution 23-04, Accepting Appointment of Commissioner to the Urban Renewal Authority of Dacono. Presenter: Jennifer Krieger, Executive Director B. *Consideration and Approval of URAD Resolution 23-05, Authorizing Signatories at TBK Bank. Presenter: Jennifer Krieger, Executive Director C. *Consideration and Approval of URAD Resolution 23-06, Authorizing the Transfer of Authority Funds. Presenter: Jennifer Krieger, Executive Director D. Executive Session Pursuant to C.R.S. Sections 24-6-402(4)(E) and 24-6-402(4)(B) for the Purpose of Determining Positions Relative to Matters that may be Subject to Negotiations, Developing Strategy for Negotiations, and Instructing Negotiators, and for Legal Advice from Attorneys Representing the Authority on Specific Legal Questions Regarding Proposals for an Urban Renewal Project. IV. Authority Member Reports V. Adjournment *Materials in Packets. Accommodations for the disabled can be made upon request. Urban Renewal Authority of Dacono Study Session Immediately following the URAD meeting which starts at 6:00 PM Topic: Urban Renewal 101 Presenter: Carolynne White, Counsel to the URAD  Urban Renewal Authority of Dacono Meeting Minutes Monday, July 10, 2023 The meeting was called to order at 7:20 PM Commissioners Present Danny Long Adam Morehead Kevin Plain Michelle Rogers Kathryn Wittman Doris Crespo, Vice-Chairperson Rick Gerk Tony Cummings Commissioners Absent Chico Garcia, excused Lori Saine, unexcused Staff Present Jennifer Krieger, Secretary/Executive Director Thuy Dam, Clifton Larson Allen LLP Valerie Taylor, Clerk to the Authority Greg Livin, Auditor with Wipfli I. Appointment of Chairperson Commissioner Wittman moved to appoint Commissioner Crespo as Chairperson. The vote was unanimous. Commissioner Morehead moved to appoint Commissioner Gerk as Vice-Chair. The vote was unanimous. II. Approval of February 1, 2023, Urban Renewal Authority of Dacono Meeting Minutes. Commissioner Wittman moved to approve the minutes of February 1, 2023, Urban Renewal Authority of Dacono Meeting Minutes. The vote was unanimous, with Chairperson Crespo declaring the motion carried. III. General Business A. Presentation of the 2022 Audit. Thuy Dam, Principal State and Local Government, CliftonLarsonAllen LLP introduced Greg Livin, Auditor with Wipfli. Mr. Livin presented the 2022 Audit. Commissioner Morehead moved to accept the audit as presented. The vote was unanimous, with Chairperson Crespo declaring the motion carried. IV. Authority Member Reports Jennifer stated the Authority will meet in August. She also stated that the URAD previously put out an RFP for a piece of property owned by the URAD; she would like to put out an updated RFP and open invitations. V. Adjournment With no further business to be discussed, the meeting was adjourned at 8:00 PM Approved this 6th day of September, 2023. _______________________________ Doris Crespo, Chairperson Attest: ______________________________________ Jennifer Krieger, Secretary/Executive Director Meeting Date: September 6, 2023 Agenda Item: URAD RESOLUTION 23-04, A RESOLUTION ACCEPTING THE APPOINTMENT OF COMMISSIONER TO THE URBAN RENEWAL AUTHORITY OF DACONO Presenter: Jennifer Krieger, AICP, Executive Director Background: The composition of the boards of urban renewal authorities is detailed in the Colorado Urban Renewal Law, C.R.S. § 31-25-101, et. seq. The Colorado Urban Renewal Law indicates that one commissioner is appointed by the board of county commissioners for the county where the urban renewal area is located. The Weld County Board of Commissioners has removed Commissioner Lori Saine and replaced her with Commissioner Perry Buck. URAD Resolution 23-04 accepts the appointment of Weld County Commissioner Perry Buck to the Urban Renewal Authority of Dacono.  URBAN RENEWAL AUTHORITY OF DACONO RESOLUTION NO. 23-04 A RESOLUTION ACCEPTING APPOINTMENT OF A COMMISSIONER TO THE URBAN RENEWAL AUTHORITY OF DACONO WHEREAS, the Urban Renewal Authority of Dacono (the “Authority”) is a duly constituted urban authority, established and operating pursuant to the laws of the State of Colorado, and in particular the provisions of C.R.S. § 31-25-104; and WHEREAS, H.B. 15-1348 effected changes to Urban Renewal Law, C.R.S. § 31-25-101, et. seq., including the provisions establishing membership of the boards of urban renewal authorities; and WHEREAS, C.R.S. § 31-25-104(2.5) provides, in part: “[I]n order to represent the collective interests of the county and all taxing bodies levying a mill levy within the boundaries of the urban renewal authority area other than the municipality, one additional commissioner on the authority must be appointed by the board of county commissioners of the county in which the territorial boundaries of the urban renewal authority area are located, one additional commissioner must also be a board member of a special district selected by agreement of the special districts levying a mill levy within the boundaries of the urban renewal authority area, and one additional commissioner must also be an elected member of a board of education of a school district levying a mill levy within the boundaries of the urban renewal authority area. If the number of members of the governing body causes the authority to have an even number of commissioners, the mayor shall appoint an additional commissioner to restore an odd number of commissioners to the authority. As applicable, the appointment of the county, special district, and school district representatives on the authority pursuant to this subsection (2.5) must be made in accordance with the procedures specified in subsection (2) of this section;” and WHEREAS, the Authority received written notification from Weld County of the appointment of Commissioner Perry Buck to serve as a Commissioner on the Authority as a replacement for Commissioner Lori Saine. NOW, THEREFORE, BE IT RESOLVED BY THE URBAN RENEWAL AUTHORITY OF DACONO: Section 1. The foregoing Recitals are incorporated herein by this reference. Section 2. Pursuant to C.R.S. § 31-25-104(2.5), the Authority accepts and recognizes the appointment of Weld County Commissioner Perry Buck to the Authority. Section 3. A copy of this Resolution on file with the City Clerk shall serve as a certificate of such appointment pursuant to C.R.S. § 31-25-104(2)(b). 25117229.4  Section 4. This Resolution shall be effective upon approval by the Authority. INTRODUCED, READ and ADOPTED this 6th day of September 2023. URBAN RENEWAL AUTHORITY OF DACONO ____________________________________ Doris Crespo, Chairperson ATTEST: ___________________________________ Jennifer Krieger, Secretary/Executive Director 25117229.4 Meeting Date: September 6, 2023 Agenda Item: URAD RESOLUTION 23-05, A RESOLUTION AUTHORIZING SIGNATORIES AT TBK BANK. Presenter: Jennifer Krieger, AICP, Executive Director Background: URAD Resolution 23-05 authorizes check signors for accounts at TBK Bank. Doris Crespo, Chair of the URAD, is added as a new signatory.  URBAN RENEWAL AUTHORITY RESOLUTION NO. 23-05 A RESOLUTION AUTHORIZING SIGNATORIES AT TBK BANK. WHEREAS, The Urban Renewal Authority of Dacono’s banking transaction practice is to have two signers on each transaction, preferably one Authority member and one staff member, with the Executive Director and Clerk as the primary signers; WHEREAS, The Executive Director and Clerk may not always be available at all times requiring more than two authorized signers to be listed on each account; NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE URBAN RENEWAL AUTHORITY OF DACONO, COLORADO: 1. The following individuals are authorized as signatories on all the Urban Renewal Authority accounts at TBK Bank: Urban Renewal Authority of Dacono Secretary/Executive Director Jennifer Krieger, Clerk Valerie Taylor, Chair Doris Crespo, and Treasurer Kelly Stroh. 2. The Officers of the Authority are hereby authorized to execute and deliver any and all documents necessary to effect the changes described herein. INTRODUCED, READ, and ADOPTED this 6th day of September 2023. URBAN RENEWAL AUTHORITY OF DACONO ____________________________________ Doris Crespo, Chair ATTEST: ___________________________________ Jennifer Krieger, Executive Director 1 Meeting Date: September 6, 2023 Agenda Item: URAD RESOLUTION 23-06, A RESOLUTION AUTHORIZING THE TRANSFER OF AUTHORITY FUNDS Presenter: Jennifer Krieger, AICP, Executive Director Background: URAD Resolution 23-06 authorizes a new account at Colotrust. The funds for the initial transfer will come from TBK Bank– Urban Renewal Authority of Dacono Operating Account and are primarily TIF funds held in reserve for future capital projects from Plan Area II. The approximate transfer will be 6.5 million dollars from 2023 TIF revenues received from Weld County. The current yield for Colotrust PLUS is 5.45%. Colotrust has three different portfolios, but PLUS is the most common one invested by government entities and normally has the highest yield.  URBAN RENEWAL AUTHORITY OF DACONO RESOLUTION NO. 23-06 A RESOLUTION AUTHORIZING THE TRANSFER OF AUTHORITY FUNDS WHEREAS, the Urban Renewal Authority of Dacono (the “Authority”) is a duly constituted urban authority, established and operating pursuant to the laws of the State of Colorado, and in particular the provisions of C.R.S. § 31-25-101 et seq.; and WHEREAS, the Authority is authorized pursuant to C.R.S. § 31-25-105(f)(II) to deposit any funds not required for immediate disbursement in any depository authorized in C.R.S. § 24- 75-603, which includes, among other things, any state bank, national bank, or state or federal savings and loan association in Colorado that is, at the time the deposit is made, a member of the federal deposit insurance corporation (an “Authorized Depository”); and WHEREAS, the Authority, as a local government entity, is also authorized pursuant to C.R.S. § 24-75-702 to pool any funds not required for immediate disbursement with the same funds as other local governments and to invest such funds in a local government investment pool trust fund (a “Local Government Pool”) to efficiently and safely invest funds. WHEREAS, the Authority has deposited funds not required for immediate disbursement, including tax increment funds held in reserve for future capital projects (collectively, the “Deposited Funds”), in an account called the Urban Renewal Authority of Dacono Operating Account at TBK Bank, which is an Authorized Depository (the “Current Account”); and WHEREAS, the Authority desires to transfer the Deposited Funds from the Current Account to an account to be named the URAD Reserve Account at Colotrust, which is a Local Government Pool (the “New Account”). NOW, THEREFORE, BE IT RESOLVED BY THE URBAN RENEWAL AUTHORITY OF DACONO: Section 1. The foregoing Recitals are incorporated herein by this reference. Section 2. Pursuant to C.R.S. § 24-75-702, the Authority authorizes the transfer of the Deposited Funds from the Current Account to the New Account Section 3. The Treasurer of the Authority is hereby authorized and directed to take all actions necessary to effectuate the transfer of the Deposited Funds from the Current Account to the New Account. Section 4. This Resolution shall be effective upon approval by the Authority. INTRODUCED, READ and ADOPTED this 6th day of September, 2023. 26006797.1  URBAN RENEWAL AUTHORITY OF DACONO ____________________________________ Doris Crespo, Chairperson ATTEST: ___________________________________ Jennifer Krieger, Secretary/Executive Director 26006797.1