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Chair Fullmer opened the Meeting At33            WORKSESSION1.       FY25 BudgetDiscussion  RDA Director Josh Daniels will lead a discussion on RDA Capital Projects
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RDA Director Josh Daniels reviewed the list of projects that can be funded under the RDA.
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Boardmember Holdaway asked why the list of projects was not included in the agenda packet. It was explained that this was a work session discussion and that the plans would be included in a formal agenda item as part of the tentative budget.
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Boardmember Rasmussen asked about carryover. Mr. Daniels’ answer was inaudible.
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There was a discussion about the main street and city hall pedestrian enhancements.
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Chair Fullmer asked for clarification, if RDA money was available to be used for anything so long as it benefits the RDA. Board Member Sifuentes was concerned that some of the proposed projects were outside the area designated for the RDA. A discussion ensued regarding the ways in which the RDA would benefit from projects outside of the area.
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Boardmember Holdaway asked if the proposed projects could be added in a social media post asking the public to weigh in and suggest possible other projects that could use RDA funds. Chair Fullmer agreed, noting these were concepts and nothing had been voted on yet.            CONSENTITEMS1.     Approval of March,24, RDA MeetingMinutes  2.     Notice of Satisfaction of Company Commitments (2019 Participation Agreementwith Fifty Mill, LLC &22 Participation Agreement with X Development,LLC)
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Motion: BOARDMEMBER HOLDAWAY MOVED TO APPROVE CONSENT ITEM1 AS PRESENTED. BOARDMEMBER SIFUENTES SECONDED THE MOTION. CHAIR FULLMER, BOARDMEMBERS CAMERON, HOLDAWAY, RASMUSSEN, AND SIFUENTES VOTED YES. THE MOTION CARRIED UNANIMOUSLY.
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3.2 Boardmember Holdaway asked for clarification on a notice of satisfaction was.  Mr. Daniels confirmed that it was an official notice from one party in the contract to the other. He went on to explain that this specifically would notify the county about tax collection on certain parcels.
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Boardmember Sifuentes asked about triggering tax collection on parcels that had no development. Mr. Daniels explained that they were parcels that were subject to the agreement. The agreement was specific to Topgolf and the offices but included the still undeveloped parcels.  There was a discussion about parcels, and the benefits of triggering property tax collection on them as well as further discussion regarding already planned development on some of the land.
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Motion: BOARDMEMBER RASMUSSEN MOVED TO APPROVE CONSENT ITEM2 AS PRESENTED. BOARDMEMBER SIFUENTES SECONDED THE MOTION. CHAIR FULLMER, BOARDMEMBERS CAMERON, HOLDAWAY, RASMUSSEN, AND SIFUENTES VOTED YES. THE MOTION CARRIED UNANIMOUSLY.             BUSINESSITEMS1.     Resolution2024-01 Adopt a Resolution to notify Utah County to commence a phase for the collection of Tax Increment for particular parcels pursuant to participation agreements in the Urban Renewal Project Area.
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Mr. Daniels explained how the process works, including the role of the county as well as the contractual obligations to reimburse the developer. He stated that the remaining amount would be roughly $4 million over the next years.
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Motion: BOARDMEMBER RASMUSSEN MOVED TO ADOPT RESOLUTION U24-01 AS PRESENTED. BOARDMEMBER CAMERON SECONDED THE MOTION. ROLL CALL WENT AS FOLLOWS: CHAIR FULLMER, BOARDMEMBERS CAMERON, HOLDAWAY, RASMUSSEN, AND SIFUENTES VOTED YES. THE MOTION CARRIED UNANIMOUSLY.
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Boardmember Holdaway asked when they could discuss RDA projects. There was a discussion regarding planning and a suggestion that it be discussed in more detail in later work sessions.              ADJOURNMENT
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
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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
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