GURA Mission Statement: To implement urban renewal projects, consistent with community values, that: • Improve the community’s physical presence within each project; • Promote each project’s desired character, and • Contribute to the economic stability and vitality of each project. GOLDEN URBAN RENEWAL AUTHORITY BUSINESS MEETING Golden City Hall Conference Room 911 Tenth Street September 8, 2014 6:30 p.m. ****************************************************************************** I. Call to Order II. Roll Call III. Approval of Minutes – Business Meeting of 8/11/14 IV. Public Comment V. New Business 1. Community Grant Request for AED/First Aid Training for Downtown Businesses 2. Community Grant Request for Visitor Center Enhancements 3. Introduction of Gateway Village Project within Colfax URA 4. Resolution 130 Conveyance of Prospector Alley Parcel to City 5. Resolution 131 Conveyance of Clear Creek Square Remnant Parcel to City VI. Reports of Committees/Matters for the Authority 1. Finance Committee a. Early Repayment of Brownfields Loan b. Extra Principal Payment for CoBiz loan c. Resolution 132 DDA-GURA Joint Funding Agreement 2. Human Resources Committee 3. Communications Committee a. Handout b. GURA Newsletter 4. Development and Operations a. Lots 2 and 4 b. Clear Creek Parking Condo Association Meeting VII. Commissioners Concerns VIII. Staff Report 1. Miners Alley 2. Washington Streetscape 3. Colfax Projects 4. Mosaic Mural IX. Public Comment X. Adjourn
Transcript
GURA Mission Statement: To implement urban renewal projects, consistent with community values, that:
• Improve the community’s physical presence within each project;
• Promote each project’s desired character, and • Contribute to the economic stability and vitality of each project.
III. Approval of Minutes – Business Meeting of 8/11/14
IV. Public Comment
V. New Business 1. Community Grant Request for AED/First Aid Training for Downtown Businesses
2. Community Grant Request for Visitor Center Enhancements
3. Introduction of Gateway Village Project within Colfax URA
4. Resolution 130 Conveyance of Prospector Alley Parcel to City
5. Resolution 131 Conveyance of Clear Creek Square Remnant Parcel to City
VI. Reports of Committees/Matters for the Authority
1. Finance Committee a. Early Repayment of Brownfields Loan
b. Extra Principal Payment for CoBiz loan
c. Resolution 132 DDA-GURA Joint Funding Agreement
2. Human Resources Committee
3. Communications Committee
a. Handout
b. GURA Newsletter
4. Development and Operations
a. Lots 2 and 4
b. Clear Creek Parking Condo Association Meeting
VII. Commissioners Concerns
VIII. Staff Report
1. Miners Alley
2. Washington Streetscape
3. Colfax Projects
4. Mosaic Mural
IX. Public Comment
X. Adjourn
Memorandum
To: GURA Board of Commissioners
From: Steve Glueck, Executive Director
Date: September 3, 2014
RE: Meeting Memo for September 8, 2014 Meeting
This memo will provide background information on selected items to be discussed at the upcoming GURA meeting.
Community Grant Request for AED/First Aid Training for Downtown Businesses- Haley Evans,
Assistant Manager of Goozell Yogurt is requesting a grant to help offset the cost of CPR and Automated
External Defibrillation (AED) training for Goozell Yogurt staff, and other downtown employees. Buffalo
Rose and Golden Hotel are among the businesses interested in this training.
Either the American Heart Association or the Golden Community Center would administer the training.
Both organizations have a fee of $55 per attendee. Evans expects approximately 30 people to participate
in the training. The total cost to subsidize this event would be around $1,650. In 2011, GURA provided
$1,500 to cover the expense of the AED equipment. As a board please discuss if GURA should fund all or
a portion of this training for this training.
Community Grant Request for Golden Visitors Center Enhancements- The visitors’ center is seeking
donations to complete phase 1 of its general enhancements. Some of the proposed upgrades include a
renovated lobby that will feature a reception area with a television to view various Golden related videos,
built-in tablets and/or computers to access information about Golden attractions, and more areas for
brochures and maps.
It is estimated that the cost to complete phase 1 is $35,000. Currently, the Golden Visitors Center has
received approximately $17,000 in contributions. The center serves more than 35,000 visitors annually
and the updated reception area would better equip the center’s volunteers with better technological
resources.
The Golden Visitors Center would greatly appreciate any assistance from GURA to complete the
renovations. The organization is available to appear in front of the GURA board to provide more
information upon request. With the information provided please decide if this project should be approved
for funding, and if approved comment on the amount of money that should be allocated for this request.
Introduction of Gateway Village project in the Colfax URA – The owner of the stalled Gateway
Village retail project at I-70 and US 40 (Colfax Avenue) plans to attend the GURA meeting to introduce
himself and his project to the board. The project team is in the process of calculating the cost to complete
the project as well as whether the project would qualify for TIF assistance. Additional discussions would
occur if a formal request is made.
Conveyance of GURA property to the City- As GURA’s downtown project comes to a close, the real
property GURA owns in the downtown area will need to be disposed of properly to avoid any legal
entanglements. GURA’s legal counsel, Carolynne White was consulted about the most ideal method to
resolve this matter. The best solution is to convey the Clear Creek Square Remnant Parcel and a portion
of Prospectors Alley to the City. Please refer to the map enclosed in the meeting packet to see where these
parcels are located.
Based on White’s guidance staff has drafted resolutions to convey the specific pieces of land to the City.
The resolutions are in compliance with all Colorado Urban Renewal Authority Statues. The land will be
transferred from GURA to the City at a rate determined by GURA. After thoroughly reading the
resolution that allows GURA to convey land to the City, as a board please either have a discussion on
suggested changes to the resolutions or take action on the resolutions presented.
Early Repayment of Brownfields Loan - The principal balance of the Brownfields loan, payable to the
Colorado Housing Finance Association (CHFA), is $75,000 after the recent semi-annual payment. The
interest rate is 2%. The final payment would be due in mid 2015. Based upon the amount of cash on
hand, and the low interest rate we receive on our operating accounts, staff recommends that the board
authorize the retirement of the debt on October 1, 2014 with a small but measurable savings.
Additional Principal payment for CoBiz Loan- The subject of repayment of GURA’s primary debt has
been evaluated by legal counsel and in the context of the Downtown Legacy Fund for major projects, as
detailed in the GURA/ DDA Funding Agreement. As a part of that discussion, there was a suggestion at
the last GURA board meeting that we consider an additional payment in 2014 in order to save on interest
costs. The current repayment schedule is to make a principal payment of approximately $555,000 in
December 2014 with a balance to be paid in 2015 of $1,186,000 in principal plus interest at 3.61%.
GURA legal counsel has indicated that it is appropriate for GURA to maintain some debt on this pledge
of property tax increment into 2015, but that a prepayment of principal to save on interest charges is wise
and appropriate legally. As of the end of July, the property tax increment account at CoBiz had nearly
$1.8 million in funds (as well as a required reserve account). In conferring with the banker at CoBiz, he
recommends that we leave the December 2014 payment as scheduled but that, if the board desires to
make an additional principal payment this year, it is easily accommodated. Given the 3.61% interest rate
and significant available funds in that restricted account, staff recommends that the board authorize an
additional $600,000 principal payment now, which may save in excess of $20,000 in interest payments
for the final payment due in June of 2015.
DDA-GURA Joint Funding Agreement- After much input from the DDA board, GURA board, Dave
Williamson DDA legal counsel, and Carolynne White GURA legal counsel, the DDA-GURA Joint
Funding Agreement has been finalized. The primary purpose of the agreement is to provide framework
for how the DDA and GURA should administer the downtown legacy fund. It is suggested that the board
takes action on this agreement, by adopting the Resolution approving the Agreement.
Handout- Included in your meeting packet is a draft of the handout that will be distributed to business
owners and residents in the GURA URA’s. The goal is to provide people interested in urban renewal
factual information about GURA.
The design of this communication piece is simple to avoid excess printing and mailing costs. A PDF
version of the handout is available so that it can easily be posted on the GURA site and sent efficiently via
email to stakeholders. Please discuss the content contained in the brochure and the design. Staff will use
your feedback to improve this communication.
GURA Newsletter- Another method for disseminating GURA news and information is through an email
newsletter. Staff has created newsletters for the DDA using MailChimp, a free email newsletter generator,
with great success. An example of the DDA newsletter is in your meeting packet.
Each month staff will send an email to constituents in the URAs to help inform the public of upcoming
meetings, events, resources and general GURA news. Decide\ whether it would be effective if a news
letter was sent to stakeholders.
Community Mosaic Mural- The community mosaic mural featuring the work of local artist, Jesse
Crock, is near completion. There are two options for the location of the mural; the west side of CoorTek
or the Natural Grocers wall that faces East Street.
A rendering of the mural on the CoorsTek wall facing Washington Avenue is included in your meeting
packet. If the mural was hung on the CoorsTek building the size is 16’ x 60’ and the cost is estimated at
$14,327. The cost includes hardware, printing, the canvass, the frame to hand the mural and labor.
Another appropriate place to hang the mural would be the Natural Grocers stucco wall facing East Street.
GURA and Equity Venture Capital (EVC) have engaged in a façade lease agreement. This agreement
allows GURA to either select an artist to paint on the wall or hang a banner on the wall. Staff will provide
a brief presentation about the details of the lease.
After reading the materials presented and listening to the staff report please discuss and decide where the
community mural should be placed.
Lots 2 and 4- Following an initial phone conversation between GURA legal counsel and the ARES
attorney, the ARES team has requested a follow-up discussion with their lender about one technical
aspect of the potential contract related to GURA’s protections in the event of default. Following that
conversation, staff recommends a Development and Operations committee meeting for September 10th at
3 PM to review a draft agreement and updates.
Clear Creek Parking Condo Association Meeting - A Clear creek Parking condo Association meeting
has been tentatively scheduled for 3 PM September 25th, 2014 at the GURA/ City offices at 1445 Tenth
Street. Likely topics will be the long term maintenance plan, and a possible rebid of the Standard Parking
contract in 2015 for the 2016 budget year.
Staff Report:
1. Miners Alley Paving Project – The change order to fasick concrete for Miners Alley paving from
11th to 13
th Streets is on Council’s agenda for September 11
th. The project should still occur this
fall.
2. Washington Avenue Streetscape – At the last meeting, the board asked for information about
speeds on Washington Avenue south of 14th. The most recent existing counts date to 2011 and
show about 8,900 vehicles a day and the 85 percentile speed (only 15% of drivers go faster) at
35.8 miles per hour. This speed is a concern for any type of on-street parking, and so the counts
will be redone (possibly before the September 8th meeting). Based upon other project demands,
this one is on hold temporarily
3. Washington Avenue Repaving - On August 14th, City council chose to proceed with the basic
repaving project this year, saving GURA about $120,000 for other projects, but did not want to
give up on the overall idea of “flexing’ parts of the street for other uses on a temporary or
seasonal basis. Since the GURA board also committed to an extra $20,000 for to-be-determined
physical structures to showcase how the “flex” option could work (as well as $5,000 for
education or a demonstration), staff is continuing to investigate, and will report back.
4. Colfax sidewalk projects - The initial sidewalk construction on the south side of Colfax between
Rooney Road and Violet Street will likely have commenced by the September 8th meeting.
Preliminary design and costs for a north side project near Rooney Road to improve access to light
rail and services is in progress.
The Golden Urban Renewal Authority 9/3/2014 - 1 -
Golden Urban Renewal Authority City of Golden, Colorado
Business Meeting August 11, 2014
The Golden Urban Renewal Authority of the City of Golden, County of Jefferson, State of Colorado, met on the above date in the Golden City Hall – 911 10
th Street, Golden, Colorado, at the hour of 6:30 p.m.
Commissioners present were:
John Eakes Rob Reed Pamela Gould Doug Miller Patrick Story
Josephine Colacci
Commissioner Halsor was absent. Executive Director Steve Glueck and Redevelopment Specialist Aleah Menefee were present. Also in attendance were citizens, Roy Banks, Eileen Banks, and Barb Warden.
GURA Chair Miller called the meeting to order at 6:31 p.m.
Approval of Annual Meeting Minutes – Gould mentioned that: Halsor should be added to the communications committee. Miller called for a motion to approve the annual meeting minutes of July 14, 2014 pending the small correction. Story MOVED to approve the annual meeting minutes. Colacci SECONDED. All Commissioners present agreed.
Approval of Business Meeting Minutes – Miller called for a motion to approve the business meeting minutes of July 14, 2014. Eakes MOVED to approve the business meeting minutes. Story SECONDED. All Commissioners present agreed.
Public Comment – None
New Business –
Discussion/action regarding sign grant request from 5 Star Bakery—DeAnn Wieber, owner of 5 Star Bakery requested financial assistance to create and install signage on the exterior of her new business. Ideally, Wieber would like three signs; one that hangs over the main entrance of her storefront, one for the west façade and another for the south façade. While she was not present make a formal presentation about the proposals, Wieber sent staff two proposals; One proposal from Big Horn Signs and the other from Golden-based, Precision Signs. Wieber prefers to work with Big Horn Signs because of the company’s responsive customer service and less expensive proposal of $4,144, while Precision Signs quoted $4,315 for the same deliverables. Story MOVED to grant 5 Star Bakery up to $4,144 to help cover the cost for design and installation for signage. Eakes SECONDED. All Commissioners present agreed.
Reports of Committees/Matters for the Authority
Finance Committee
DDA-GURA Joint Funding Agreement – After last month’s meeting with the DDA and GURA boards, staff updated the funding agreement to incorporate feedback from the DDA and GURA boards. Some revisions include language about the decision making process for projects in the downtown area, and that most of the money that is slated for the downtown legacy fund cannot be accessed until GURA’s debt in the downtown area is repaid. Discussion continued about repayment options for GURA’s downtown obligations. GURA legal counsel, Carolyn White needs to review the revised joint agreement to check for any legal conflicts. Staff will bring the finalized joint agreement to the GURA board for action at September’s board meeting.
The Golden Urban Renewal Authority 9/3/2014 - 2 -
July Financials—Staff gave a brief presentation about GURA’s July financials. Expenditures are low because of reduced administrative costs. Revenues are somewhat higher than anticipated. $1.49 million of the projected $1.50- million in property tax increment has been received..
Human Resources Committee
NO REPORT
Communications Committee
Discussion regarding communication efforts for the new URAs—Staff presented draft text copy for an upcoming brochure that staff and board members can distribute to businesses and individuals that are interested in urban renewal. This is one piece of a more extensive communications plan to help educate the community about what GURA does and plans to do in the future. The brochure will be distributed in many ways, including as background in face to face visits with businesses. It will allow informal conversations to occur, while providing a standard background. Commissioners are encouraged to use it with their individual contacts as well. The board agreed that this information is needed and will be helpful. Gould added some comments for improving the text such as adding a sentence about the board and including information about TIF.
Development and Operations
Discussion of Lots 2 and 4—On Thursday, August 14 City Council will make a decision regarding cash in lieu for new developments that occur on lots 2 and 4. This will provide ARES and the GURA board with direction on how to proceed with the two lots. Glueck will make a presentation to City Council about the parking study and how many cash in lieu of parking spaces can be used and still maintain parking capacity downtown. The loading area for trucks adjacent to Prospectors Alley is being provided. . There is approximately 8 feet extra in the alley that will allow trucks to make deliveries with minimal disturbance in the traffic flow. Miners’ Alley Discussion—The survey work is complete for Miners’ Alley. Unfortunately, the “V” shaped drainage area cannot be eliminated, however it will be minimized. It is necessary to have this drainage area to prevent flooding of building entrances. Stamped concrete will be in front of businesses to improve the aesthetics of the area. Washington Avenue Streetscape—During the board meeting staff showed a rendering of potential streetscape plans for the portion feom14th to 18
th Streets. The plans incorporate changes in parking
based on different parking design options and current parking. The streetscape on Washington Avenue needs to be addressed to increase pedestrian/sidewalk connections and update parking to current sight distance standards. The board went on to talk about the differences in parking options and which option might be best.. A community meeting might be schedule to inform constituents about potential changes. The board asked for more information about actual speeds and traffic counts on Washington Avenue and estimated project costs prior to scheduling any public meetings.
Discussion regarding the Colfax infrastructure project—There are many updates regarding developments with the Colfax URA. The change order for the Phase 1 sidewalk project from Rooney to Violet Streets was approved by Council and staff is awaiting final CDOT permitting and the contractor’s schedule to begin work on this project. Further preliminary review of the possible streetscape project on the north side from Zeta Street to C-470 is being complicated by the likelihood that the overall street design may need to be completed, approved by CDOT, and constructed to fully address this stretch. Staff had hoped that we could build that stretch (with a loan from the City or Downtown project) in 2015 simply by adding on to the street. While that evaluation continues, staff has identified two more important connections that can be accomplished sooner in an affordable manner. As shown on the vicinity map, Phase 2A would connect the existing C-470 trail extension at Rooney Road westward to the first businesses and increase safety for bikes and pedestrians at Colfax and Rooney Road. Like the south side (Phase 1), Phase 2B is also feasible since there is substantial CDOT right of way and no interference with the roadway. It would connect to the western of the two business parks and provide a linkage to businesses and the light rail for the businesses closer to Colfax (we do not assume employees closer to 6th Avenue will walk that far out of direction for light rail, but it would serve a lot of users). The connection to the second business park along the street is more difficult due to the width of Lena Gulch, but this would be another good step. Given the issues at Rooney Road and the drainage work to the
The Golden Urban Renewal Authority 9/3/2014 - 3 -
west, this stretch would be more than the $50,000 budgeted for Phase 1, but could probably be built for $75,000. The board agreed thst staff should continue to investigate. On August 6, 2014 Planning Commission approved a site plan for MIE, to construct an 110,000 square foot light industrial flex space. The developer anticipates that the project will break ground in fall of 2014. Because changes are likely to occur in the Colfax URA Planning Commission and GURA need to work in collaboration to ensure that certain criteria are being met in terms of sustainability and quality of architecture. The board discussed how the two entities might be able to collaborate on particular development projects.
Commissioner’s Concerns –
Eakes – None. Colacci – None
Story – None. Miller – None
Gould – An announcement about the Central Neighborhoods block part was given. The event will take place at Bumps and Bundles on August 26. Gould would also like a sign that announces the Darling Garden on the front of the Natural Grocers site. Reed – None
Staff Report –
There are few parcels of land that need to be conveyed to the City before the end of 2014. These parcels include a portion of the south bank of Clear Creek near the Ford Street Bridge, and a portion of the alley behind Gateway Station. White will need to look at the deeds before action can occur.
Public Comment – none
Adjourn –
There being no further business, Miller called for a motion to adjourn the meeting. Colacci MOVED to adjourn the meeting. Story SECONDED. All Commissioners present agreed. Miller adjourned the meeting at 9:12 p.m. __________________________________ _______________________________ Steve Glueck Doug Miller Executive Director Chair
Project Type 2008 2009 2010 2011 2012 2013 2014 Total
Façade Grants
Natures Gifts Candles Bldg. $10,700 $10,700
Corner Mechanic (Awning) $3,928 $3,928
NELI (Awning) $2,991 $2,991
The Alley $1,956 $1,956
Great West Property Management for Armory Bldg. (Entryway) $4,700 $4,700
Doug Miller, Chair Steve Glueck, Executive Director
Golden Urban Renewal Authority Golden Urban Renewal Authority
010252\0006\11495426.2
INTERGOVERNMENTAL AGREEMENT- GURA AND DDA
THIS INTERGOVERNMENTAL AGREEMENT (hereinafter the “Agreement”) is entered
into by and between the GOLDEN URBAN RENEWAL AUTHORITY, an Urban Renewal
Authority, established and operated pursuant to the provisions of Title 31 of Colorado Revised
Statutes and located within the boundaries of the City of Golden, Colorado (hereinafter
“GURA”), and the GOLDEN DOWNTOWN DEVELOPMENT AUTHORITY, a Downtown
Development Authority, established and operated pursuant to the provisions of Part 8 of Article
25 of Title 31 of the Colorado Revised Statutes and located within the boundaries of the City of
Golden, Colorado (hereinafter “DDA”), and shall be effective as of September 1, 2014.
RECITALS
WHEREAS, by Resolution No. 343, dated June 26, 1989, the City Council of the City of
Golden (the "City") declared that an urban renewal authority was necessary to eliminate blight
and prevent injury to the public health, safety, morals, and welfare of the residents of the City,
and thereby created and established the Golden Urban Renewal Authority pursuant to the
provisions of the Colorado Urban Renewal Law; and
WHEREAS, GURA continues to fulfill its obligations to the Golden community through
programs and projects that are authorized by various Urban Renewal Plans, as approved by the
Golden City Council; and
WHEREAS, by Ordinance No.1946, dated July 11, 2013, the City Council of the City of
Golden (the "City") declared the need for an entity to continue providing support for the
redevelopment of the downtown area, and thereby created and established the Golden Downtown
Development Authority pursuant to the provisions of Colorado law, and subject to a positive
vote of eligible electors at the November 5, 2013 special election; and
WHEREAS, by virtue of the passage of DDA ballot question 1, and DDA ballot issues
300, 301, and 302, the DDA has been established and will continue to fulfill its obligations to the
Golden community through programs and projects that are authorized by a Downtown
Development Plan; and
WHEREAS, considering the initially modest direct property tax and incremental property
tax revenues that the DDA will receive based upon state statute and the approval of a 5 mill
property tax levy by eligible electors, and the projected gradual growth in revenues into the
future, GURA and DDA desire to enter into this Agreement to provide additional funding to the
DDA for operations and programs.
010252\0006\11495426.2
AGREEMENT
1. 2014 program and Administrative support. In consideration of GURA’s strong
commitment to the success of the DDA, and recognizing that the DDA will not have any
direct revenue until 2015, GURA has budgeted and intends to fund and jointly implement
the continuation of certain GURA programs through the end of 2014, as contained in
GURA’s adopted budget so that the DDA can begin to take over such programs. GURA
further commits to fund the DDA’s administrative costs for 2014, as described in that
certain Intergovernmental Co-operation Agreement between the DDA and the City of
Golden, dated June 1, 2014, and attached hereto as Exhibit A.
2. Additional Funding. In recognition of the initially modest available resources that the
DDA will be have available in its early years, and the projected gradual growth in
revenues into the future, GURA hereby authorizes financial support for the DDA for the
period of 2015 through and including 2019 (years 1 thru 5). For this period, GURA will
contribute a total of $500,000 to the DDA, as follows:
i. $300,000 on or before January 10, 2015.
ii. $50,000 annually for 2016 through 2019 payable on or before January 10th
of
each year.
3. GURA Downtown Special Fund. Through careful use of incremental revenues
generated by GURA’s downtown project during the course of the 25 year effort, GURA
has created and, unless depleted by special project funding as provided below, will
maintain for the period of this agreement the Downtown Special Fund.
a. GURA will make this fund available for specific projects in the downtown area
subject to the following criteria:
i. Projects must be either substantial capital infrastructure or significant
redevelopment projects. Operating or general grant and business
assistance programs will not be eligible.
ii. Projects must be physically located within the original GURA boundaries
(which are similar, but not identical to the DDA boundaries).
iii. Projects must demonstrate that they support the 1989 GURA Plan goals
and constitute urban renewal projects under Colorado law.
iv. Project proposals may be initiated by GURA or submitted by the DDA or
the City of Golden. GURA agrees to fund projects jointly submitted by the
City and DDA if they meet the above criteria. If either the City or DDA
does not support a specific proposal, the GURA board will endeavor to
seek consensus among the parties, but will reserve the right to make such
010252\0006\11495426.2
final decision, providing that the entity responsible for long term
maintenance of any such investment agrees to accept such maintenance.
v. The exact amount of the fund will be determined upon deposit of
remaining cash resources generated from the Downtown URA project
after retirement of the debt associated with said Downtown URA Project.
The fund will also include funds reimbursed to the Downtown Special
Fund for authorized GURA expenditures in 2012, 2013, and 2014 in the
establishment of new URA project areas.
vi. Funds will not be available for any substantial investments until retirement
of GURA’s existing project debt, anticipated to occur in June 2015,
however, funding discussions and decisions can occur at any time.
vii. Any loan of funds from the Downtown Special Fund to another URA
project beginning January 1, 2015 will take the form of a formal loan to be
repaid prior to the date of December 31, 2019 referenced in subsection b
below.
b. Any remaining funds in the Downtown Special Fund as of December 31, 2019
will be transferred in total to the DDA no later than January 10, 2020.
4. General Provisions.
a. This Agreement shall inure to the benefit of and shall be binding upon the successors
and assignees, if any, of the Parties hereto.
b. This Agreement is being executed and delivered and is intended to be performed in
the State of Colorado, and the laws of Colorado shall govern the validity, construction,
enforcement and interpretation of this Agreement. Exclusive jurisdiction and venue for
resolution of any dispute arising hereunder shall be in the Jefferson County, Colorado District
Court.
c. This Agreement embodies the whole agreement of the Parties hereto. There are no
promises, terms, conditions, or obligations other than those contained herein. This Agreement
shall supersede all provisions, communications, representations, or agreement, either verbal or
written, between the Parties hereto.
d. A written waiver by any Party to this Agreement of the breach of any term or
provision of this Agreement shall not operate or be construed as a waiver or any subsequent
breach by another party.
010252\0006\11495426.2
e. The captions of the articles and sections of this Agreement are set forth only for the
convenience and reference of the Parties hereto and are not intended in any way to define, limit,
or describe the scope or intent of this Agreement.
f. Notwithstanding any language in this Agreement, GURA shall not be deemed to be a
member, partner, or joint venturer of the DDA, and GURA shall not be responsible for any debt
or liability the DDA or its contractors, agents or developers. The DDA shall not be responsible
for any debt or liability of GURA or their contractors or agents in relation to the subject matter of
this Agreement.
g. If any portion or portions of this Agreement shall be determined to be illegal or
unenforceable, the remainder of this Agreement shall not be affected thereby and shall remain in
full force and effect as if such illegal or unenforceable portion or portions did not exist.
The Parties hereto have executed this Agreement to be effective as of the date first above
written.
010252\0006\11495426.2
GOLDEN URBAN RENEWAL AUTHORTY
By:_________________________________
Chair
Attest: ______________________
Secretary
GOLDEN DOWNTOWN DEVELOPMENT AUTHORITY
By:___________________________________
Chair
Attest: _________________________
Secretary
The purpose of the Golden Urban Renewal Authority (GURA) is to improve the community’s physical presence while promoting the desired character of each project area, and to contribute to the economic stability and vitality of Golden.
Golden City Council established GURA in 1989 with the goal of enhancing the vitality of Golden’s downtown. For almost 25 years, many different GURA board members and staff have worked to support businesses, increase parking options, encourage economic growth and make downtown Golden a place that we all love and cherish. More recently, City Council has established GURA projects in the Central Neighborhoods, along West Colfax, and at west end of 8th Street.
What is GURA?
GURA is a separate governmental entity from the City of Golden and is comprised of seven volunteer board members along with GURA’s executive director and staff members. Golden citizens volunteer for this board in order to positively influence change in our town and receive no financial benefit from their service. Anyone who lives in Golden, and who is willing to make the time commitment, can apply to become a GURA board member for a four-year term.
What is Urban Renewal?
Urban renewal is an economic development tool used to attract and retain businesses, encourage job growth, and promote new development in underuti-lized areas through a dedicated source of funding.
Has GURA “targeted” any businesses or properties in the Central Neighborhoods or Colfax area for redevelopment?
GURA works cooperatively with owners and busi-nesses seeking to invest in their properties. GURA does not target individual businesses for change.
GURA’s Urban Renewal Areas
Central Neighborhoods
8th Street
West Colfax
Contact Us: 1445 10th StreetGolden, CO 80401303-384-8080 [email protected]://bit.ly/1pA1fn3
Jackson Street
East Street
State Highway 58
8th Street
6th Avenue
Colfax Avenue
Will my property taxes increase if my home, property, or business is located in or near a GURA area?
If your property value goes up or your sales increase, your taxes will increase whether you are in a GURA district or not. GURA is funded by retaining a portion of property taxes that would other-wise be spent elsewhere-- but only if taxes increase because property values increase. City Coun-cil can also allow a portion of sales tax to fund GURA projects, but, again, only if sales increase. There are no additional assessments to properties within an urban renewal area and no increase in the mill levy with the creation of these areas.
If my property is in an urban renewal area, what flexibility do I have to improve it?
Having property within an urban renewal area does not impose additional restrictions on property use. Rather, GURA can often provide financial help for projects that are consistent with the urban renewal plan.
How can GURA help me?
GURA offers a variety of programming and financial support for businesses, property owners, and residents in the urban renewal areas in Golden. One important tool is tax increment financing (TIF). TIF financing allows a portion of the taxes paid by a business to be made available for rein-vestment in the business, rather than being spent elsewhere. GURA may also use TIF (and other available) revenues to provide assistance to property owners who want to rehabilitate or redevel-op their property. An example of this type of assistance are the façade improvement loan pro-grams used in the downtown project.
GURA can also invest in programs and public amenities that encourage redevelopment or new development. A few recent example of this type of investment include installation of sidewalks along Colfax to improve pedestrian access, the community garden next to Natural Grocers to benefit surrounding neighbors, and the yearly display of downtown holiday lights.
How does GURA ensure transparency and accountability?
GURA’s monthly board meeting are open to the public and the public is encouraged to partic-ipate. Meetings take place the 2nd Monday of every month at 6:30 p.m. in City Council cham-bers located at 911 10th Street, Golden, Colorado 80401. GURA posts board members names, meeting minutes, project details, financial audits and other information online. We also hold periodic neighborhood meetings when making important decisions about creating or chang-ing urban renewal areas. Notices about meetings are sent to surrounding residents and busi-nesses.
Want more information about how GURA works or how your property or business can ben-efit from working with GURA? Visit our site: http://bit.ly/1pA1fn3
Contact Us: 1445 10th StreetGolden, CO 80401303-384-8080 [email protected]://bit.ly/1pA1fn3
Get the Latest DDA News! View this email in your browser
August Updates 2014
The Downtown Development Authority (DDA) was established pursuant to the November 2013 vote authorizing its creation. The DDA is a special district entity authorized and directed by state statute to benefit the economic and community vitality of the downtown area. Beginning in late 2014, the DDA will start to take over downtown benefit programs from the Golden Urban Renewal Authority (GURA), which will start to focus only on its other urban renewal project areas outside of Golden’s downtown. The DDA will also be authorized to provide tax increment economic incentives to eligible redevelopment projects, much like GURA was able to do in the past.
Why was the DDA formed?
Colorado state laws limit funding for urban renewal projects to 25 years. Funding for the downtown GURA project will expire with the payment of 2014
sales and property taxes. A key function of urban renewal programs is to remedy and prevent blight. Given the positive impacts of GURA’s programs,
there is not a lot of blight remaining in downtown.
A DDA is a separate legal entity that can finance economic development and redevelopment projects by utilizing tax dollars generated by downtown for
downtown. The DDA would be capable of providing tax increment financing and it would potentially be able to fund most of the other programs
currently offered by GURA, assuming adequate revenues.
Golden DDA’s Short-Term Goals
The initial DDA board was seated in March 2014, and began meeting on April 21. The DDA’s first task will be to complete and adopt a Downtown
Development Plan, which incorporates existing policy direction for downtown from Golden Vision 2030, the City Comprehensive Plan, and various
downtown design and planning efforts. Staff support for this task will be provided by the Department of Community and Economic Development.
On Wednesday, June 25 the DDA board and City staff hosted an introductory stakeholder meeting to discuss the Downtown Development Plan. Initial
ideas and suggestions for implementation were discussed. Attendees had the opportunity to voice opinions and questions about the plan. An online
survey was also administered for those that could not attend the public meeting. Community input from both the initial stakeholder meeting and survey
has aided the DDA in the focus areas for strategic implementation. The four areas in which the DDA will focus its efforts include:
1. Encourage and support business vitality for both individual businesses and the DDA areas as a whole;
2. Encourage and invest in the enhancement of our community character and culture;
3. Invest in developing and maintaining quality public space and infrastructure;
4. Encourage land uses and transportation policies that support community goals
DDA Survey Results
The DDA would like to thank everyone that
participated in our recent survey. Download the
survey results and read more information by
clicking HERE
DDA Plan Update
The Downtown Development Authority (DDA) is closer to finalizing the Downtown
Development Plan that will feature strategies for implementation. These strategies will help
guide the DDA’s work in the coming years. Click HERE to view the draft plan.
If you would like to comment on the draft plan, please join the DDA Board on Monday,
August 18 at 6:30 p.m. at the City Council Chamber 911 10th Street.
Jefferson County Business Resource Center (JCBRC) is a publically funded non-profit organization dedicated to helping business owners in Jefferson County not only succeed but thrive!
What JCBRC offers:
Business Development Tools & Resources—FREE, unlimited and confidential business counseling. Free and low cost classes
through our BEST Program: Business Education Training Series. Classes are designed to support business owners with 1 to 5
employees but are open for everyone to attend.
Market Analysis– Are you marketing your business effectively?
Visibility Check: Can your customers find you?
Client/Customer Experience Check-up: What do your clients customers experience? What level of customer service do you provide?
Many more services available—Please visit our website to learn more:www.jeffcobrc.org
Contact JCBRC Today for a free business counseling appointment and to find out about upcoming classes! Call: 303-996-8976 or email: [email protected]
Next DDA Board Meeting:
Monday, August 18 6:30 p.m. CIty Council Chambers 911 10th Street Click HERE for the Agenda
Contact Us:
1445 10th Street Golden, CO 80401 Aleah Menefee 303.384.8080 [email protected]
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