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Urban Renewal Authority Board Thursday, August 28, 2025 05:00 PM Council Information Center (CIC) in City Hall, 300 Laporte Ave, Fort Collins, CO and via Zoom at https://zoom.us/j/98687657267

URBAN RENEWAL AUTHORITY BOARD MEETING
5:00 PM

Amended on August 26, 2025

A)CALL MEETING TO ORDER

B)ROLL CALL

C)AGENDA REVIEW

Executive Director's Review of Agenda.

D)PUBLIC PARTICIPATION

E)PUBLIC PARTICIPATION FOLLOW-UP

F)ADOPTION OF CONSENT CALENDAR

G)COMMISSIONER REPORTS

H)DISCUSSION ITEMS

The method of debate for discussion items is as follows:

• Chair introduces the item number and subject; asks if formal presentation will be
made by staff
• Staff and/or Applicant presentation (optional)
• Chair requests public comment on the item (three minute limit for each person)
• Board questions of staff on the item
• Board motion on the item
• Board discussion
• Final Board comments
• Board vote on the item

Note: Time limits for individual agenda items may be revised, at the discretion of the Chair, to ensure all have an opportunity to speak. If attending in person, please sign in at the table in the back of the room. The timer will buzz when there are 30 seconds left and the light will turn yellow. It will buzz again at the end of the speaker’s time.

  1. 1.Consideration for Approval of the Minutes of July 24, 2025, Urban Renewal Authority Regular Meeting.

    The purpose of this item is to consider the approval of minutes of July 24, 2025, Urban Renewal Authority Regular Meeting.

  2. 2.Consideration of a Motion to Approve an Update to the “Term Sheet” for a Loan to Support the Development of a Middle-Income Housing Project Proposed to be Constructed at 302 Conifer Street, and to Authorize the Acting Executive Director to Sign the Loan Term Sheet

    The purpose of this item is to consider authorizing the Acting Executive Director to sign an updated “term sheet” describing the general terms and conditions of a loan from the URA North College Plan Area fund to the developers of a proposed deed-restricted 76-unit multi-family community for low-moderate and middle-income residents to be constructed at 302 Conifer Street.  The proposed loan amount is $3.22 million and will carry an interest rate of 3.0%.

  3. 3.Public Hearings and Consideration of Items Relating to the 2025 and 2026 URA Budgets.

    A. Resolution No. 151, Adopting a Supplemental 2025 Budget Resolution for the Fort Collins Urban Renewal Authority

    B. Resolution No. 152, Adopting the 2026 Budget for the Fort Collins Urban Renewal Authority

    The purpose of these resolutions is for the Board to consider two budget offers for the Urban Renewal Authority (URA) that Staff submitted as part of the City’s Budgeting for Outcomes (BFO) process earlier in 2024. The first offer covers the costs of performing core functions of the URA. The second offer is for the URA’s debt service payments. Combined and with updated amendments from the original offers, the total original appropriation for the 2026 URA budget would be $7,165,184.  After these expenses, both the North College and Prospect South plan areas would generate excess revenues. Staff forecasts $2.7 million in available cash in the North College plan area and $2.5 million in available cash for the Prospect South plan area by the end of 2026.

    The available cash balance in North College assumes that three additional purchases in 2026 will be approved and appropriated separately for approximately $4.98 million (subject to change if needed). 

    In addition, staff propose an amendment to the 2025 Budget for an increase of $4,530,035.  This amendment is intended to cover the additional costs associated with due diligence and potential acquisition of five properties in the North College District in 2025, the Revolving Loan and Grant for 302 Conifer, and the net increase in Debt Service for the 2025 Bond repayment. 

  4. 4.WITHDRAWN - Consideration of a motion to go into executive session to discuss the potential purchase or acquisition of real property interests, including eminent domain, to receive legal advice on specific legal questions, and to determine positions relative to matters that may be subject to negotiations related to 1513 North College Avenue in the North College Urban Renewal Plan area.

    “I move that the Fort Collins Urban Renewal Authority go into executive session pursuant to: C.R.S. § 24-6-402(4)(a), (b) and (e) for the purpose of discussing with the Authority’s attorneys and appropriate management staff the following items, all related to property in the North College Urban Renewal Plan Area:

    - Potential Purchase or Acquisition of Real Property Interests, including the use of eminent domain

    - Specific Legal Advice on Specific Legal Questions, and

    - Determine Positions Relative to Matters that may be Subject to Negotiations, Develop Strategy for Negotiations and Instruct Negotiators.”

  5. 5.WITHDRAWN - Resolution No. 153 Authorizing the Use of Eminent Domain to Acquire Property and Associated Interests Located at and Related to 1513 North College Avenue, Fort Collins, Colorado.

    The purpose of this item is to authorize URA Staff to use eminent domain to acquire the property located at 1513 North College Avenue.

I)OTHER BUSINESS

J)ADJOURNMENT

Upon request, the City of Fort Collins will provide language access services for individuals who have limited English proficiency, or auxiliary aids and services for individuals with disabilities, to access City services, programs and activities. Contact 970.221.6515 (V/TDD: Dial 711 for Relay Colorado) for assistance. Please provide 48 hours advance notice when possible.

A petición, la Ciudad de Fort Collins proporcionará servicios de acceso a idiomas para personas que no dominan el idioma inglés, o ayudas y servicios auxiliares para personas con discapacidad, para que puedan acceder a los servicios, programas y actividades de la Ciudad. Para asistencia, llame al 970.221.6515 (V/TDD: Marque 711 para Relay Colorado). Por favor proporcione 48 horas de aviso previo cuando sea posible.