Urban Renewal Authority

645 Holbrook Street TOWN OF ERIE Erie, CO 80516 Meeting Minutes - Final Urban Renewal Authority Tuesday, December 8, 2015 Board Room Following the Regular Meeting of the Board of Trustees I. CALL MEETING TO ORDER Chairperson Harris called the December 8, 2015 meeting of the Town of Erie Urban Renewal Authority to order at 8:54 pm. II. ROLL CALL Present 6- Tina Harris, Janice Moore, Mark Gruber, Scott Charles, Waylon Schutt, and Jennifer Carroll Absent 1- Dan Woog III. APPROVAL OF THE AGENDA A motion was made by Commissioner Charles, seconded by Commissioner Schutt, to approve the agenda. The motion carried unanimously. IV. CONSENT AGENDA 15-138 Approval of the November 10, 2015 Meeting Minutes A motion was made by Commissioner Schutt, seconded by Commissioner Charles, that this Consent Agenda be approved. The motion carried by a unanimous vote. V. PUBLIC COMMENT VI. RESOLUTIONS a. 15-166 PUBLIC HEARING: Resolution Summarizing Expenditures And Revenues And Adopting A Budget For The Town Of Erie Urban Renewal Authority, For The Calendar Year Beginning The First Day Of January, 2016 And Ending On The Last Day Of December, 2016. Chairperson Harris opened the Public Hearing for Agenda Item 15-166 at 8:55pm; hearing no one wishing to make public comment, closed the public haring at 9:02 pm. The purpose of this agenda item is for the Budget Officer to submit a proposed 2016 budget to the Commissioners of the Town of Erie Urban Renewal Authority, Colorado . Schedule A includes a summary of expenditures and revenues for the calendar year TOWN OF ERIE Page 1 Printed on 1/13/2016 Urban Renewal Authority Meeting Minutes - Final December 8, 2015 2015. The Board of Commissioners received the proposed 2016 calendar year budget on October 10, 2015. Changes to the 2016 proposed budget since that date were presented to the Board at a study session on November 17, 2015. No additional changes have been made since that date. Comments on key items in the budget follow: Revenues - Property tax TIF increments for 2016 are not known at this time, but are expected to be above 2015 levels. Property taxes are currently budgeted at $60 thousand and will be adjusted in a supplemental appropriation once they have been determined. Not reflected in revenues are amounts expected to be received related to development at the corner of 287 and Arapahoe. It is currently unknown whether these revenues will be in the form of a developer payment or from a TIF -supported bond financing. These revenues will be the source for repayment of a portion of the advance from the Town of Erie General Fund, with repayment of approximately $ 3.4 million expected in 2016, representing the purchase price of the underlying land. The revenues will be reflected in a supplemental appropriation once the form of the payment is determined. Expenditures - Expenditures are budgeted to be $274 thousand in 2016, compared to $788 thousand in 2015. Allocation of personnel expense from the Town represents the majority of the expenditure budget, at $168 thousand in 2016. In addition, $97 thousand in legal and accounting consulting fees are budgeted in 2016 compared to $147 thousand in 2015. A motion was made by Commissioner Gruber, seconded by Commissioner Schutt, that this Resolution be approved. The motion carried by the following vote: Aye: 5- Chairperson Harris, Commissioner Gruber, Commissioner Charles, Commissioner Schutt, and Commissioner Carroll Nay: 1- Commissioner Moore b. 15-167 PUBLIC HEARING: A Resolution Appropriating Sums Of Money In The Amounts And For The Purpose As Set Forth Below For The Town Of Erie Urban Renewal Authority, For The 2016 Calendar Year Budget. Chairperson Harris opened the Public Hearing for Agend Item 15-167 at 9:02 pm; hearing no one wishing to make public comment Chairperson Harris closed the public hearing at 9:04 pm. The Town of Erie Urban Renewal Authority (URA) has adopted an annual budget in accordance with the Local Government Law on December 8, 2015. The URA has made provisions for advances from the Town of Erie’s General Fund to fund the total proposed expenditure as set forth in the 2016 calendar year adopted budget. It is necessary to appropriate the revenues and expenditures provided in the budget so as not to impair the operations of the URA. A motion was made by Commissioner Gruber, seconded by Commissioner Schutt, that this Resolution be approved. The motion carried by the following vote: Aye: 5- Chairperson Harris, Commissioner Gruber, Commissioner Charles, Commissioner Schutt, and Commissioner Carroll Nay: 1- Commissioner Moore TOWN OF ERIE Page 2 Printed on 1/13/2016 Urban Renewal Authority Meeting Minutes - Final December 8, 2015 VII. ADJOURNMENT Commissioner Charles moved to adjourn the meeting; the motion was seconded by Commissioner Gruber. Chairperson Harris adjourned the December 8, 2015 Meeting of the Town of Erie Urban Renewal Society at 9:05pm. Aye: 6- Chairperson Harris, Commissioner Moore, Commissioner Gruber, Commissioner Charles, Commissioner Schutt, and Commissioner Carroll TOWN OF ERIE Page 3 Printed on 1/13/2016