University North Park Business Improvement District Advisory Board Meeting

UNIVERSITY NORTH PARK BUSINESS IMPROVEMENT DISTRICT ADVISORY BOARD MINUTES March 31, 2017 The University North Park Business Improvement District Advisory Board met at 10:00 a.m. in the John Q. Hammons Boardroom at the Embassy Suites Hotel & Conference Center on the 31st day of March, 2017, and notice and agenda of the meeting were posted in the Municipal Building at 201 West Gray 48 hours prior to the beginning of the meeting. PRESENT: Mike Thompson Matt Clouse Bill Nemeth Dan Quinn Guy Patton Rex Amsler Brad Goodwin ABSENT: Mandy Haws Jennifer Alexander John Richardson STAFF PRESENT: Matt Hendren, Parks Superintendent Jeff Bryant, City Attorney Sarah Encinias, Legal Admin Tech APPROVAL OF THE JANUARY 6, 2017, MEETING MINUTES. After review, a motion was made by Mr. Clouse and seconded by Mr. Patton to accept the Minutes from the January 6, 2017, meeting as submitted. The vote was unanimous to accept the Minutes as submitted. DISCUSSION AND POSSIBLE ACTION REGARDING DESIGN OF ROBINSON STREET ENTRANCES AND PRELIMINARY BUDGET. City Attorney, Jeff Bryant, began by stating significant progress had been made toward the design of the Robinson Street Entrance. Included in materials passed out to the Board was a conceptual design contained on slides previously shown to the TIF Oversight Committee. The redesign incorporates elements of the design of Legacy Park. Mr. Bryant stated TIF Oversight Committee members were pleased with the concept, and had unanimously approved the design. The Architectural Review Board had approved the redesign, as well as the developers UTC, LLC and UNP, LLC. We are now seeing feedback from the BID Board on the redesign and the budget. Under the Amendment to Development Agreement No. 5 each entrance was to move forward with construction at a cost of $300,000 per entrance. Additional work on the Tecumseh and 24th 1 UNP BID Advisory Board September 9, 2016 Page 2 of 3 Avenue NW entrance is currently on hold due to the uncertainty of whether that would be the best location given recent discussions about a possible second access point at Tecumseh Road. If the Robinson Street entrance is able to move forward, then the NTIFA will let the contract out for public bids and begin construction late summer or early fall. Cash flow for the BID district is $200,000 per year for ten years. NTIFA will pay $200,000 for year one. NTIFA will reduce its contribution each year by $25,000 with the BID Assessments correspondingly increasing their contribution in years two through eight, with the last two years’ funding coming solely from property owners through BID Assessments, for a total of $2,000,000. This process has worked well for years 1 through 3, with the 4th year of BID Assessment collections currently underway. With another final payment expected today there will be almost 100% collection in total with no supplemental liens or enforcement needed at this time. Expenses include grounds upkeep and restroom facility maintenance and seasonal plantings. Holiday decorations for FYE 2017 are also noted. Estimated expenditure for FYE 2017 shows $150,000 for the Robinson Street Entrance and then $150,000 for the Tecumseh Entrance in FYE 2018. Two contracts have been approved for ground and general maintenance at a per visit cost. Mr. Clouse suggested that future year projections include an inflation increase by 3-5% per year. The cash flow projection illustrates sufficient projected cash flow for the maintenance contracts, holiday decorations, and the entrances cost over the ten year bid term with a remaining fund balance of $473,604. The recent estimated cost of the redesigned entrance was $470,000. As noted this significantly exceeded the original $300,000 estimate at the time the Amendment to Development Agreement No. 5 was considered. Mr. Bryant outlined changes made in the design in order to lessen expenses as follows: 1. Brick removed from rear of wall, replaced with split block to match other Legacy Park finishes. 2. Stone base removed from low area between pilasters 3. Thickness and detailing of internal construction revised. 4. Area of sod and irrigation reduced in size. 5. More available Landscape species will be specified. 6. Boring under 24th Avenue NW deleted. The budget presented today outlined new cost estimates from the architect. Costs are now estimated at $353,085 with the cost overrun to be split between funders. The BID Board requested that planting, electric and irrigation costs be included in the annual operational expense estimates and Matt Hendren agrees to build these costs into the maintenance bid when construction is complete. The projected budget and proposed Goppold contract for project oversight are attached to the minutes. Mr. Patton moved that the redesign be accepted, that the proposed budget of $353,085 be accepted, and that the cost be funded equally from accumulated UNP BID funds and UTC, LLC UNP BID Advisory Board September 9, 2016 Page 3 of 3 (the developer of land south Rock Creek Road). The motion was seconded by Brad Goodwin. The motion was approved unanimously. UPDATE ON LEGACY PARK RESERVATIONS. Matt Hendren reported no current reservations but that calls were expected to increase as the warm weather season progressed. MISCELLANANEOUS DISCUSSION. Buildings are being turned over to tenants for May opening dates. Restaurants moving forward are Le Madeline and McAllister’s. TIF Oversight is looking into handicapped parking issues. It was proposed that shopping lots can be utilized and patrons can walk over to the park. This would also have the public walk past shops. Development Agreement #5 provided for additional parking near Academy. TOPICS FOR FUTURE DISCUSSION. – none. DISCUSSION ABOUT DATE, TIME AND LOCATION FOR THE NEXT MEETING. The next meeting is scheduled for Friday, June 23, 2017, beginning at 10:00 a.m. at Embassy Suites. ADJOURNMENT. The meeting adjourned at 10:43 a.m.