due to the COVID-19 gathering restrictions
February 24, 2021 – 6:02 PM
Chair Julie Fullmer
Boardmember John Earnest
Boardmember Tyce Flake
Boardmember Chris Judd
Boardmember Cristy Welsh
Staff Present: City Manager Jacob McHargue, Assistant Finance Director/Treasurer Mariah Hill, Public Works Director/City Engineer Don Overson, Assistant Public Works Director Chris Wilson, City Attorney Jayme Blakesley, Community Development Director Morgan Brim, City Planner Briam Amaya Perez, Sergeant Holden Rockwell with the Utah County Sheriff’s Office, Building Official George Reid, Water Manager Sullivan Love, City Recorder Pamela Spencer,
Others Speaking: Laura Lewis and David Robertson with Lewis Young Robertson and Burningham
Chair Fullmer opened the meeting at 6:02 Pm. City Manager Jacob McHargue gave the invocation and led the Pledge of Allegiance.
2. Play >> Determination Letter:
Chair Fullmer read the determination letter.
3.1. Approval of the January 27, 2021 RDA Meeting Minutes
Chair Fullmer called for a motion.
Motion: Boardmember Judd moved to approve consent item 3.1. Boardmember Earnest seconded the motion. Chair Fullmer, Boardmembers Earnest, Flake, Judd, and Welsh voted aye. The motion carried unanimously.
4.1 Play >> Discussion and Action – Super Parameters Resolution U2021-01
Consideration for adoption of a resolution authorizing the issuance and sale of not more than $80,000,000 aggregate principal amount of Tax Increment Revenue and Refunding Bonds, Series 2021; and related matters.
Chair Fullmer turned the time over to City Manager Jacob McHargue.
Mr. McHargue gave a brief background on why the RDA wanted to refund the bond obligations and refund the Waters Edge debt and finance some future projects. He said that staff was proposing to do this through Public Offerings. He explained that the RDA had to approve a Super Parameters Resolution, which would set the guidelines and limits for what negotiations they could do. He mentioned that they would appoint a pricing committee to work with Lewis Young Robertson and Burningham (Lewis Young).
Laura Lewis with Lewis Young explained how the bonds could be purchased, either through direct purchase, where one organization purchases the entire package, or a public offering, which was what they thought they would end up with. She mentioned that public offerings would add an additional burden to staff. She reviewed the documents and the process that would be included with a public offering. David Robertson with Lewis Young mentioned that they would need to identify the projects they would like to finance.
Chair Fullmer called for questions from the board.
There was a discussion about how the bond market worked.
Chair Fullmer called for further comments. Mr. McHargue explained that he had included those members in the suggested motion found in the Zoom chat feature. Chair Fullmer reminded the board that they had discussed earlier who would be on the pricing committee.
Motion: Boardmember Welsh moved to adopt resolution U2021-01 and to appoint Mariah Hill, Jacob McHargue, Julie Fullmer and Chris Judd as the designated officers of the pricing committee. Boardmember Earnest seconded the motion. Roll call went as follows: Chair Fullmer, Boardmembers Earnest, Flake, Judd, and Welsh voted aye. The motion carried unanimously.
4.2 Play >> discussion and action – Udot Consultant Services
City Manager Jacob McHargue will present the UDOT Consultants Services Local Government Approval Memo. The RDA Board will take appropriate action.
4.3 Play >> Discussion and Action – Train Station Panel Design
City Planner Briam Amaya Perez will present the designs for the Train station panels. The RDA Board will take appropriate action. (This item was continued from the January 13, 2021 RDA Meeting.)
Chair Fullmer explained that a landowner had requested to submit additional photos for consideration. She called for a motion to continue the item.
Boardmember Judd asked about the required quality or resolution of the photos. He felt that they should exclude any images that were not high enough quality. Community Development Directory Morgan Brim replied that there was a minimum resolution required and that they would exclude any blurry photos.
RDA meetings are scheduled as necessary.
MINUTES APPROVED ON: May 12, 2021
CERTIFIED CORRECT BY: /s/ Pamela Spencer
Pamela spencer, city recorder