Finance & Governance Committee

Minutes Finance & Governance Committee Tuesday, January 24, 2017, 1:30 PM City & County Building, Room 391 Attendance Present: 5- Flynn, Black, Espinoza, López, Ortega Action Items 17-0055 A bill for an ordinance authorizing and approving an amendment to the St. Anthony Urban Redevelopment Plan to add the Sloans Block 3 Project and to Create the Sloans Block 3 Sales Tax Increment Areas. Approves an amendment to the St. Anthony Urban Redevelopment Plan for the Sloans Block 3 Project to authorize the creation of two Sales Tax Increment Areas to provide funding for the preservation and redevelopment of the historic Kuhlman building and auditorium into new affordable housing, retail and restaurant space and townhomes in Council District 1. The Committee approved filing this bill at its meeting on 1-24-17. A motion offered by Councilmember Ortega, duly seconded by Councilmember Espinoza, that Bill 17-0055 be approved for filing carried by the following vote: Aye: 6- Kniech, Flynn, Black, Espinoza, López, Ortega Nay: 0 17-0056 A bill for an ordinance approving a proposed Cooperation Agreement for Sloans Block 3 Sales Tax Increment Areas in the St. Anthony Urban Redevelopment Area between the City and County of Denver and Denver Urban Renewal Authority. Approves a Cooperation Agreement with the Denver Urban Renewal Authority (DURA) for the Sloans Block 3 Sales Tax Increment Areas within the St. Anthony Urban Redevelopment Area in Council District 1. The last regularly scheduled Council meeting within the 30-day review period is on 2-27-17. The Committee approved filing this bill at its meeting on 1-24-17. A motion offered by Councilmember Ortega, duly seconded by Councilmember Espinoza, that Bill 17-0056 be approved for filing carried by the following vote: Aye: 6- Kniech, Flynn, Black, Espinoza, López, Ortega Nay: 0 City and County of Denver Page 1 Printed on 11/20/2017  Minutes Finance & Governance Committee Tuesday, January 24, 2017 17-0057 A bill for an ordinance authorizing and approving an amendment to the St. Anthony Urban Redevelopment Plan to add the Sloans Block 9 Project. Approves an amendment to the St. Anthony Urban Redevelopment Plan for the Sloans Block 9 Project to authorize the use of property tax increment financing (“TIF”) to provide funding for development to include approximately 176 units of income restricted permanently affordable senior and disabled housing, up to 20,000 square feet of ground floor medical office and clinic space, 6,500 square feet of senior activity center, a publicly accessible 5,000 square foot amenity deck and 125 parking spaces in Council District 1. The Committee approved filing this bill at its meeting on 1-24-17. A motion offered by Councilmember Ortega, duly seconded by Councilmember Espinoza, that Bill 17-0057 be approved for filing carried by the following vote: Aye: 6- Kniech, Flynn, Black, Espinoza, López, Ortega Nay: 0 17-0058 A bill for an ordinance approving the St. Anthony Urban Redevelopment Area Amended and Restated Cooperation Agreement between the City and County of Denver and the Denver Urban Renewal Authority to establish, among other matters, the parameters for tax increment financing with property tax increment. Amends a Cooperation Agreement with the Denver Urban Renewal Authority (DURA) to authorize the use of property tax increment revenues for the Block 3 and Block 9 projects at the St. Anthony Urban Redevelopment Area in Council District 1. The last regularly scheduled Council meeting within the 30-day review period is on 2-27-17. The Committee approved filing this bill at its meeting on 1-24-17. A motion offered by Councilmember Ortega, duly seconded by Councilmember Espinoza, that Bill 17-0058 be approved for filing carried by the following vote: Aye: 6- Kniech, Flynn, Black, Espinoza, López, Ortega Nay: 0 17-0042 A bill for an ordinance authorizing the exercise of a purchase option under Lease Purchase Agreement No. 2008B (Denver Botanic Gardens Parking Facility Project) and in connection therewith the approval and execution of a Site Lease No. 2017A (Denver Botanic Gardens Parking Facility) between the City and County of Denver, as lessor, and the Denver Botanic Gardens Parking Facility Leasing Trust 2017A, as lessee, for certain real property consisting of the parking facility site at the Denver Botanic Gardens, an annually renewable Lease Purchase Agreement No. 2017A (Denver Botanic Gardens Parking Facility) between the Denver Botanic Gardens Parking Facility Leasing Trust 2017A, as lessor, and the City and City and County of Denver Page 2 Printed on 11/20/2017  Minutes Finance & Governance Committee Tuesday, January 24, 2017 County of Denver, as lessee, a License and Access Agreement No. 2017A between the Denver Botanic Gardens Parking Facility Trust 2017A, as licensor, and the City and County of Denver, as licensee, and the execution of other documents related thereto; authorizing officials of the City and County of Denver to take all action necessary to carry out the transactions contemplated hereby; ratifying action previously taken and providing other matters relating thereto. Approves the refunding of outstanding Denver Botanic Gardens Certificates of Participation (COPs), Series 2017A, to achieve approximately $2.1 million in interest cost savings for the Denver Botanic Gardens and to pay costs of issuance. The last regularly scheduled Council meeting within the 30-day review period is on 2-21-17. The Committee approved filing this bill at its meeting on 1-24-17. Companion bill to 17-0043 below. A motion offered by Councilmember Ortega, duly seconded by Councilmember López, that Bill 17-0042 be approved for filing carried by the following vote: Aye: 6- Kniech, Flynn, Black, Espinoza, López, Ortega Nay: 0 17-0043 A bill for an ordinance approving a proposed Fourth Amendment to Cooperative Agreement between the City and County of Denver and Denver Botanic Gardens, Inc., amending the existing Cooperative Agreement in conjunction with the refunding Certificates of Participation transaction, Series 2017A. Amends the existing cooperative agreement with the Denver Botanic Gardens in conjunction with the refunding Certificates of Participation transaction, Series 2017A in companion bill 17-0042 above. The last regularly scheduled Council meeting within the 30-day review period is on 2-21-17. The Committee approved filing this bill at its meeting on 1-24-17. A motion offered by Councilmember Ortega, duly seconded by Councilmember Lopez, that Bill 17-0043 be approved for filing carried by the following vote: Aye: 6- Kniech, Flynn, Black, Espinoza, López, Ortega Nay: 0 17-0052 A resolution approving a proposed Amendatory Agreement between the City and County of Denver and Denver Botanic Gardens, Inc. for amendment to the Escrow Agreement with UMB Bank, N.A. in conjunction with the refunding of 2008B Certificates of Participation for proposed Series 2017A Refunding Certificates of Participation for the Denver Botanic Gardens parking facility. Amends an escrow agreement with the Denver Botanic Gardens, Inc., and UMB Bank, N.A., to update new annual lease payments and allow for the City and County of Denver Page 3 Printed on 11/20/2017  Minutes Finance & Governance Committee Tuesday, January 24, 2017 Denver Botanic Gardens to continue to deposit funds into the escrow account to pay new annual lease payments in conjunction with a transaction to refund lease purchase Certificates of Participation, Series 2017A (FINAN-CE8A130-01). The last regularly scheduled Council meeting within the 30-day review period is on 2-27-17. The Committee approved filing this resolution at its meeting on 1-24-17. A motion offered by Councilmember Ortega, duly seconded by Councilmember López, that Resolution 17-0052 be approved for filing carried by the following vote: Aye: 6- Kniech, Flynn, Black, Espinoza, López, Ortega Nay: 0 Following are items that were approved on the Committee's consent agenda today. Consent Items 17-0047 A resolution approving a proposed amendment to a Master Purchase Order between the City and County of Denver and Kois Brothers Equipment, Co., Inc., to increase the maximum amount for the repair and maintenance of existing Solid Waste truck equipment. Increases the maximum spending amount by $175,000 for a new total of $650,000 in the master purchase order with Kois Brothers Equipment Co., Inc. for the repair of the City’s solid waste truck fleet (0120A0212). The last regularly scheduled Council meeting within the 30-day review period is on 2-27-17. The Committee approved filing this resolution by consent on 1-24-17. This Resolution 17-0047 was approved by consent. 17-0048 A resolution approving a proposed amendment to a Master Purchase Order between the City and County of Denver and Transwest Freightliner LLC to increase maximum amount for repair and maintenance of existing heavy truck equipment. Increases the maximum spending amount of $225,000 for a new total of $650,000 in the master purchase order with Transwest Freightliner, LLC for repair and parts for City vehicles (0298A0413). The last regularly scheduled Council meeting within the 30-day review period is on 2-27-17. The Committee approved filing this resolution by consent on 1-24-17. This Resolution 17-0048 was approved by consent. 17-0049 A bill for an ordinance authorizing a supplemental appropriation from the General Contingency Fund to the Liability Claims Special Revenue Fund. Approves a supplemental appropriation for $1.6 million to the Liability and City and County of Denver Page 4 Printed on 11/20/2017  Minutes Finance & Governance Committee Tuesday, January 24, 2017 Claims Special Revenue Fund to cover settlement costs for the City Attorney’s Office. The Committee approved filing this bill by consent on 1-24-17. This Bill 17-0049 was approved by consent. City and County of Denver Page 5 Printed on 11/20/2017