Redevelopment Agency
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Transcript
| Today is April 24th, 2024. The time is 9:33 and we're going to start the Redevelopment Agency board meeting. We'll go right into | 00:00:00 | |
| our work session and this is talking about our fiscal year 25 budget discussion. So we had an earlier discussion that was part of | 00:00:07 | |
| the slide in our City Council and now we're going to talk about our RDA projects. And Josh, I will let you take off the meeting. | 00:00:15 | |
| Great. Thanks. So this is the list of submitted requested projects. | 00:00:22 | |
| And so, but specifically. | 00:00:31 | |
| There we go. It'll be good. | 00:00:57 | |
| OK, so basically this is a list of projects that are public infrastructure and still batting. | 00:01:02 | |
| Pregnancy. | 00:01:09 | |
| So this is a list of projects that can be funded on under the RDA public infrastructure projects that can be placed on our capital | 00:01:24 | |
| project plan for for this year. | 00:01:29 | |
| So do you guys have questions about him? | 00:01:36 | |
| Read to the list. | 00:01:41 | |
| In the. | 00:01:45 | |
| I can see there in the packet, but why aren't we just putting them in the agenda so that it's easy to find? Is there a reason why | 00:01:49 | |
| we separate them? | 00:01:52 | |
| So because legally when you set the budget for the RDA, as the RDA board, these items would be budgeted by the RDA and so | 00:01:56 | |
| therefore would be approved in the RDA. No no. I met in the RDA agenda for today. Is there any reason to make it easier to find | 00:02:02 | |
| because it just says 2.1? | 00:02:08 | |
| It's just not. It's just not a it's. So it's not a formal budget request yet because it's no, no, no, I know. But just making sure | 00:02:18 | |
| documents can see it so citizens can see it in the public. | 00:02:24 | |
| 'Cause it wasn't a part of packet, this wasn't right. | 00:02:31 | |
| I couldn't find this, no no. | 00:02:34 | |
| No, it's just it's it's a work session sort of discussion document. OK. | 00:02:37 | |
| It would be in a formal agenda item as per the tentative budget, OK. | 00:02:44 | |
| Is there any of this carry over? | 00:02:53 | |
| The Grant the beach, OK. | 00:03:05 | |
| Yeah, that's from the tab the. | 00:03:09 | |
| Is the Main Street City Hall pedestrian enhancements for this building? | 00:03:12 | |
| Yes. OK. Josh is the right thing I could probably, yes. So that that that one is a new project refer from residents on the over | 00:03:20 | |
| here that they crossed over to the bus stop. So we do we do have the ramps that are in place right now, but the kids are crossing | 00:03:28 | |
| without a crosswalk and so that that would provide like the the flashing indicator button and it would provide like a legit | 00:03:35 | |
| crosswalk. So this is a good point that Marty just brought up. Marty said I didn't think that we could do this now. | 00:03:42 | |
| You can do anything with RDA money that benefits the RDA. And I think what you're asking for is clarity on how this benefits the | 00:03:49 | |
| idea. Well, I just thought that because technically the RDA isn't in this land area. That's right. But you can do anything with | 00:03:57 | |
| RDA money that's outside of that area that benefits the RDA. So the question I think for clarity would be how does this benefit | 00:04:04 | |
| the RDA? | 00:04:12 | |
| How does this benefit the RDA? | 00:04:20 | |
| Well, I mean you could, you could come up with a number of rationales, right? It it serves the population that might live in the | 00:04:24 | |
| RDA. So if there's population that lives in the RDA but then they need to come to the City Council building or something, you | 00:04:29 | |
| know, then they need certain. | 00:04:34 | |
| Exactly. I mean, you can create, there's probably a lot of rationales where you can create that Nexus. | 00:04:41 | |
| Well, now you have me thinking outside the box, so I thought when I talked with Nate. | 00:04:49 | |
| He wasn't asking for. So the City Hall, these are requests from the. These are for us, these are ours. This is a like a staff | 00:04:56 | |
| request. And so if it's not paid through the RDA, the staff would make a request that it get paid capital investments made by the | 00:05:03 | |
| developers are made pursuant to their agreements and then they seek reimbursement. So that's separate from an expenditure of RDA | 00:05:10 | |
| funds by. | 00:05:17 | |
| The RDA specifically sort of within the city. | 00:05:25 | |
| My first comment and looking at this would be the public. | 00:05:34 | |
| Engagement and voting because nobody comes to these RVA meetings and helping them understand because there are, I know, right, not | 00:05:38 | |
| very many couple people. There's parking, you know, there's parking problems that we talked about. You know on 300 W there's | 00:05:45 | |
| there's, there's a. | 00:05:52 | |
| Different needs and problems, so like. | 00:05:59 | |
| You know, this looks like there are some money that's available to fix some problems. That's my first initial thing. Yeah. I like | 00:06:03 | |
| what you say because I think the separation between these projects is that this is taking into consideration the council | 00:06:09 | |
| priorities, projects from staff and then these requests that are just going into projects that are being requested according to | 00:06:15 | |
| the implementation plans. So the parking solutions I believe was on the council priorities. So you'll see that come into the | 00:06:21 | |
| budget as as they go in the city budget. | 00:06:27 | |
| These to be included, you know, and I think that's really what we're doing tonight is getting an overview of some things that have | 00:07:05 | |
| been put into an implementation plan and what do you guys think about these and as you prepare for the future? | 00:07:12 | |
| Discussions. His first economic development strategic plan related to the Leland Consulting thing we're already doing, Yes, OK. | 00:07:20 | |
| The people doing the economic development strategy. | 00:07:32 | |
| Do you guys have any other questions? Otherwise, take this home with you, start thinking about it, come back as we put this back | 00:07:43 | |
| into the tenant budget and we'll have more conversations on it. And you can start really thinking, hey, are these things that we | 00:07:49 | |
| want to include as you're going through your priorities? Because this is really about you setting priorities as you go through | 00:07:55 | |
| these conversations. Could we use our social media and blast this out and say that the RDA is looking for different things so that | 00:08:01 | |
| it reaches a very large audience? | 00:08:07 | |
| I think you could say something like, yeah, I think you could go and say, hey, these are some ideas. What are your ideas? Because | 00:08:13 | |
| really, you haven't voted on anything. So these are just concepts, right? But ranking them, yeah, Like if you wanted them to rank | 00:08:21 | |
| these, well, I don't want to rank these because as I visit with voters, those are great. But I actually see five or six where it's | 00:08:28 | |
| like, oh, this is a problem that they would like, like like even #1 connecting. | 00:08:35 | |
| Connecting 300 W to the road, that would be a huge alleviation for traffic. So yeah, so maybe bringing other ones back inside of | 00:08:43 | |
| this. I see what you're saying. What's the what are we calling now the Sarah what are we calling the road thing to connect to 300 | 00:08:49 | |
| W acceleration lane? | 00:08:54 | |
| I hear that all the time. | 00:09:00 | |
| All right. Well, if there's no other discussion, let's go ahead and close this work session and we'll move on to our consent | 00:09:02 | |
| agenda. | 00:09:06 | |
| All right. I just need a motion for our consent items. | 00:09:12 | |
| I want to understand. Well, I have to pull it out before I talk to it. Could you approve the one that you're not pulling out? | 00:09:17 | |
| Yeah, let's approve 3.1. All right. First by date. Can I get a second, Second. Second by Amber. Any discussion? All in favor? Aye. | 00:09:24 | |
| All right. Jake, I didn't hear you on 3.1. I know you made the. | 00:09:30 | |
| OK, Let's go ahead and talk about. | 00:09:38 | |
| I know. I feel like you do so. | 00:09:41 | |
| All right, 3.2. | 00:09:45 | |
| I noticed the satisfaction is, is you want to talk to what it is just basically closing the book, right. So it's just official | 00:09:48 | |
| notice from the contracted from the other party to the contract. There's two main contracts and it's just a notification that | 00:09:55 | |
| they've completed their end of the bargain which then triggers the the city to go well the RDA specifically to notify the county | 00:10:03 | |
| to sort of one of the terms is trigger certain parcels. | 00:10:10 | |
| To begin collection of tax increment. | 00:10:18 | |
| This is different. I know that that's what the notice of satisfaction is, is the notice of satisfaction is from the developer | 00:10:22 | |
| saying we've kept our end of the bargain. They gave it to us, right. So you're saying, hey, we're done, we've done our part. So | 00:10:27 | |
| now we're asking you to do your part. So that's the part I couldn't understand which one is it? Right. So the notice is the | 00:10:32 | |
| developer saying. | 00:10:37 | |
| We entered these two contracts and we did our part. And so now it's your turn to go ahead and begin the collection on these | 00:10:43 | |
| parcels. So this is more administrative and then if we have questions about the parcels, we could ask it in the next item. | 00:10:49 | |
| Sure. Yeah. Is that appropriate? Yeah. | 00:10:57 | |
| Yeah. So these, so these two two agreements, two different participation agreements cover some contiguous areas there that is kind | 00:11:01 | |
| of that top golf development and office buildings and and those kinds of well, since we're talking about it, I specifically had a | 00:11:07 | |
| question on 2 parcels. | 00:11:13 | |
| Specifically, I don't know if you want to write it down, but if I can read you the parcel numbers, but one of them or two of them | 00:11:21 | |
| are in the area where that future apartment building is going. And I thought it was kind of odd that we're triggering parcels that | 00:11:27 | |
| have zero development on it. | 00:11:32 | |
| Is that normal? Yeah. I mean, not all of the parcels are going to be fully developed. | 00:11:40 | |
| I mean, it's possible, I suppose we could pull them out, but but all of the parcels that were designated as subject to the | 00:11:45 | |
| agreement are the parcels that get triggered. | 00:11:50 | |
| Say that again. Sorry. So under the original agreement. | 00:11:57 | |
| There were certain parcels that were designated as covered as part of the agreement. So whether or not those parcels have any | 00:12:02 | |
| development on them, they're part of the agreement. And so once the agreement is fulfilled, then all the parcels are to be | 00:12:09 | |
| triggered for collection of increment. | 00:12:16 | |
| OK. | 00:12:26 | |
| It just feels like the agreement hasn't been fulfilled. But maybe I don't understand. Well, the agreement is specific to | 00:12:27 | |
| essentially the development of the top Golf and the offices and that's it. That's what the green that's what the agreement | 00:12:35 | |
| covered. But but the entirety of the area is also covered under the agreement per the per the exhibits to the original agreement. | 00:12:43 | |
| So it wasn't the case that the agreement envisioned every parcel in the area. | 00:12:51 | |
| Fully developed for its whatever its future abuse would be. OK, that makes sense. Thank you. So I mean those other developments | 00:12:59 | |
| will probably happen fairly soon and the collection period will begin and it will go for 25 years. So it you know from the from | 00:13:06 | |
| the perspective of the contracted the other party, the developer, you know they're perfectly fine triggering it because they're | 00:13:13 | |
| going to receive the revenue from that and. | 00:13:20 | |
| It just might mean that it'll take a little bit longer to get all of the revenue back for what their investment was in the | 00:13:28 | |
| infrastructure. | 00:13:32 | |
| Do we lose out on opportunity? Because what if something happens and nothing happens? Like what if nothing happens on those | 00:13:36 | |
| parcels, the two parcels? But she's referring to actually, which parcels are you referring to? So it's 56037007. Can we put it on | 00:13:42 | |
| the screen? | 00:13:48 | |
| I'd like to see that too. | 00:13:57 | |
| And then planning on building work on this I think Is this the other one? | 00:14:26 | |
| And I think the other ones actually this one. | 00:14:30 | |
| So they're not worried about it because they're gonna get it in the next, I don't know, they're gonna pull it up on the screen, | 00:14:34 | |
| but it's it's parcel in this one. And then there's another one that's I think empty, but I'm not sure that one. I thought we could | 00:14:41 | |
| do anything else. Josh, do do they understand that's being triggered and they're feeling better about it? I mean, you would hope | 00:14:49 | |
| it's possible that they they hadn't quite thought about the fact that part of the area isn't fully developed. | 00:14:56 | |
| But here's the challenge. It's part of the original agreement and there's been, you know, subsequent subdivisions, right, where | 00:15:05 | |
| there's been some development, but maybe not a lot of development on on an adjacent parcel. And so the agreement, the original | 00:15:12 | |
| agreement doesn't envision the idea that you would pull some out. It's kind of an all or nothing proposition. | 00:15:19 | |
| Yeah. I don't see those two parcels as being an issue for this. That might actually really enhance some of our current | 00:15:27 | |
| negotiations. | 00:15:31 | |
| But it does exactly what you're saying. So the two parts, yeah, it was this one and this one that I specifically asked him about. | 00:15:38 | |
| I guess this one too, would be included as a. | 00:15:43 | |
| 3rd empty parcel which they're building on. | 00:15:48 | |
| This is the, I think this is the dentist and pediatrician. Yeah, that's so that's those 3 comprise the last kind of phase of yard | 00:15:51 | |
| B. | 00:15:56 | |
| But that's that's the next use building. So basically if we were to like. | 00:16:01 | |
| Just hear me out. If we were to say no, we don't want to approve that or we don't want to accept your trigger. | 00:16:08 | |
| Then we would be harming them and the fact that they're ready for the other areas to be triggered and to them they don't see an | 00:16:15 | |
| issue with this happening development because it's going to happen. | 00:16:19 | |
| But is that harmless at all? | 00:16:25 | |
| Like I just feel like triggering emphysema is kind of not well, the empty land is owned by somebody and it has value and so that | 00:16:28 | |
| somebody will be paying, the developer will be paying property taxes on land that is now much more valuable because of the | 00:16:36 | |
| adjacent development and but it is less valuable than it would be. | 00:16:44 | |
| Yeah. But I mean the entire concept of the RDA is that you do some development. | 00:16:54 | |
| And it increases the value of all the land, right? | 00:16:59 | |
| And so that's that's how this works and there's quite a bit of development. Obviously you're almost, you know, 8090% developed in | 00:17:02 | |
| that whole area. And so we'll have Mountain America will be completed soon here. The other thing to consider is that you don't | 00:17:08 | |
| really have discretion on this because this is a contract and so they fulfilled their end of the contract and now it's the RDA | 00:17:14 | |
| board's obligation to sort of deliver their part of the contract which is to to notify the county of of the beginning of the | 00:17:20 | |
| collection. | 00:17:26 | |
| But I think you know like. | 00:17:32 | |
| Yeah. So it's so, yeah, it's the unit and then it'll have the ground floor retail. So it doesn't also have a parking to help. So | 00:18:11 | |
| there'll be a parking structure built right inside of it. And then with that project we're looking at having them help us with the | 00:18:19 | |
| 400 N, making that a safer bicycle route. Is the park construction going to be owned by the city is going to be deeded to the | 00:18:27 | |
| city? No, the parking structure will it. It'll it'll it'll be basically a wrap around and so they'll have. | 00:18:35 | |
| Most of the structural kind of wrap around the the. The most of the units will wrap around the parking structure. | 00:18:44 | |
| So it'll it'll be they'll have some like public parking for the retail users but it'll be like a very controlled. So each each | 00:18:51 | |
| unit will have like a a space and like a pass. Yeah, I mean something to think about is that I. | 00:18:58 | |
| The property tax on residential units is going to be less than commercial units because the residential exemption. So you're | 00:19:07 | |
| really not missing a lot of revenue there and then you have parking. So I mean the benefit to the city is just that now you're | 00:19:14 | |
| you're generating sales tax in all of this area, but it's now time for the developer to receive reimbursement for you know per the | 00:19:21 | |
| agreement, the agreement says that the. | 00:19:29 | |
| The RDA is to begin the the collection one year after they complete the main project which was the top golf and that's that was | 00:19:36 | |
| done in December of 22, so all of 23. So at the end of 23, December of 23 is essentially when our obligation kicks in Effectively | 00:19:44 | |
| it doesn't matter we just need to get the, we just need to notify the county for early May so they can process it so they can | 00:19:52 | |
| begin collection this year. | 00:19:59 | |
| So do you guys feel good about 3.2? Yeah. | 00:20:09 | |
| Yeah. | 00:20:17 | |
| OK, let's make a motion on 3.2. | 00:20:18 | |
| I need a motion on 3.2. I move to approve consent item 3.2. Can I get a second second? | 00:20:23 | |
| OK, first by Amber, second by Marty. Any discussion? | 00:20:30 | |
| All in favor? Aye. All right, this brings us to 4.1, which we were just talking about resolution 2024-01. Maybe you want to give a | 00:20:35 | |
| brief overview to the public. | 00:20:42 | |
| This resolution is just the mechanism by which the board will notify the county to begin the the process for collecting increment | 00:20:50 | |
| for the parcels that were covered under these two agreements. | 00:20:57 | |
| And that so basically as soon as you've adopted that, the county will be notified and beginning next month when they're finalizing | 00:21:05 | |
| things for collection this year, they'll ensure that these parcels begin collecting increment that will be tax revenue that comes | 00:21:13 | |
| back to the agency. And then the agency, the RDA board will have an obligation over the course of the next 12 years to pay back | 00:21:20 | |
| the developer per the the two agreements which the balance is about. | 00:21:28 | |
| Another 4 million. It'll be paid back over the course of 12 years. Are there any questions? | 00:21:36 | |
| If not, I need a motion. | 00:21:44 | |
| And we're contractually obligated on this one anyway, right? Correct. | 00:21:46 | |
| I moved to adopt. Resolution U 202401 is presented all right. I have a first diameter, connect the 2nd. | 00:21:51 | |
| 2nd, Thank you, Sarah. Any discussion? This is done by roll call. Jake. Amber. Aye? Aye. Marty. Sarah, Aye. All right. This | 00:21:59 | |
| meeting was adjourned before you go ahead. Before you adjourn, I know we put forth budgets and different ideas and. | 00:22:09 | |
| And we talked about in our off site about what things we as a RDA board would be open to or which ones we wouldn't be open to, | 00:22:18 | |
| when can we start to have that like? | 00:22:24 | |
| Maybe a change because Marty, you mentioned one time of like. | 00:22:31 | |
| When we were at the retreat, like, yeah, that's a good discussion of like what things we want to. | 00:22:36 | |
| Spur. Do you remember that? I was thinking as as the applications come in, we would kind of just like the board was presented to | 00:22:40 | |
| us and that was a chance for us to approve or deny accepting an RDA agreement with them. And it was as a council it was decided to | 00:22:49 | |
| accept it. So when we had that conversation, my thought is as applications come in, if it's not what we want for that area, then | 00:22:57 | |
| we would deny those applications. But are they doing that like after the fact that can't we be more proactive of saying hey? | 00:23:05 | |
| The Council is very open to doing RDA funds for off of these priorities that they have. | 00:23:14 | |
| In making it and they're less likely to support it for these types of issues. So it like spurs the type of growth. So we talked a | 00:23:22 | |
| lot about this and. | 00:23:26 | |
| Opportunities, we're going to talk about how our investments work. We set our vision in the city as we set our goals and | 00:23:30 | |
| priorities. And then you have opportunities for setting like the stationary plan that you will be getting into and you'll have | 00:23:36 | |
| opportunities to look at that land and decide what you want and then decide how you want. | 00:23:42 | |
| Our RDA director to go after and spend his time or to kind of come up with a process. I think this is something that as these | 00:23:49 | |
| discussions start coming forward like the stationary applying discussion and Josh starts kind of pulling some of this information | 00:23:56 | |
| together, we can definitely bring this to an agenda item into a work session. I'm going to adjourn this thing. If you guys want to | 00:24:03 | |
| talk offline about this about how to do this in the future, we can. Thanks. | 00:24:10 |