URBAN RENEWAL AUTHORITY BOARD MEETING
5:00 PM
Executive Director's Review of Agenda.
CONSENT CALENDAR
The purpose of this item is to discuss an agreement for IDF to underwrite and administer a single loan on behalf of the Authority. IDF would administer the proposed loan between the Authority and the developer of the proposed middle-income housing project to be constructed at 302 Conifer Street.
END OF CONSENT CALENDAR
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.
The purpose of this item is to request reappropriation of unspent funds. In April 2024, the URA Board approved $275,000 to fund an RFP for partial design of bike and pedestrian improvements in the Prospect South Plan Area. This project did not commence due to the limited staff capacity spent on higher priorities, specifically North College real estate projects.
Additionally, in April 2024, the URA Board approved $180,000 for technical consulting services, of which only $5,000 was spent in 2024. Staff are requesting reappropriation of the unspent funds to begin or continue the noted work in 2025.
A. Resolution No. 144 Authorizing, Approving and Directing the Issuance, Sale and Delivery by the Authority of Tax Increment Revenue & Refunding Bonds (North College) Series 2025, in the Maximum Aggregate Principal Amount of $18,000,000; Approving Documents in Connection Therewith; and Ratifying Prior Actions.
B. Resolution No. 145 Authorizing the Fort Collins Urban Renewal Authority’s Financing of Certain Capital Projects Using Funds to be Reimbursed from Bonds or Other Indebtedness.
The purpose of this item is to discuss the issuance of new debt and refinancing existing debt for the North College Urban Renewal Plan Area (the “Plan Area). The Fort Collins Urban Renewal Authority (the “Authority”) has entered into Purchase and Sale Agreements to acquire and redevelop a closed grocery store at 1636 N. College Avenue and motel located at 1513 N. College Avenue. In addition, the Authority may consider the acquisition of additional properties within the Plan Area requiring funds more than the current forecasted cash balances without the use of debt financing.
The purpose of this item is to consider a Resolution authorizing funding a payment to Larimer County (the “County”) per the terms of the Redevelopment and Reimbursement Agreement (the “Redevelopment Agreement”) between the Fort Collins Urban Renewal Authority (the “Authority”), Walton Foothills Holdings VI, L.L.C., the City of Fort Collins (the “City”) and the Foothills Metropolitan District (the “District”). This payment will fund payment of an annual payment of $60,000 from the Pledged Property Tax Increment Revenue since 2015 – the first year of substantial Pledged Property Tax Increment Revenue – which has not been paid. The total payment will be $600,000.
“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,
• 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.”
The purpose of this item is to consider a resolution authorizing the Acting Executive Director to negotiate and execute an amendment to the Purchase and Sale Agreement for acquisition of property at 1513 N. College Avenue. Based on current inspections and due diligence, Fort Collins Urban Renewal Authority (the “Authority”) staff believe that an amendment will be necessary to affect the most advantageous acquisition of the property for the purpose of remediating blight.
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.