Loading...
HomeMy WebLinkAboutApproved Minutes - 1992-01-02 PMr • • • • EAST END DEVELOPMENT COMMITTEE MINUTES January 2, 1992 CALL TO ORDER The meeting was called to order by Chair Oliphant at 7:00 p.m. in the Personnel Conference Room. II. ROLL CALL Present: Chair Doug Oliphant and East End Development Committee Members Bob Chizum and Steve Straus; Ted R. Schneider, Redevelopment Director. Others in attendance: Dick Anderson (former member of the EDC), Bob Kincaid (Lake Oswego Assistant City Manager), Doug Waugh (City of Lake Oswego Financial Analyst), Jeanne Hemphill (First Addition Neighbors). Excused: Randy Miller; Pete Harvey, Executive Director of the Lake Oswego Redevelopment Agency (LORA). III. MINUTES OF DECEMBER 5, 1991 Randy Miller sent a memorandum to Ted Schneider requesting a correction be made to the Minutes of December 5, 1991 reflecting that he abstained from the Portland Development Commission Real Estate Services Contract discussion. Bob Chizum MOVED the motion that the Minutes of December 5, 1991, be approved, as modified, to reflect in Section V.A. that Randy Miller abstained from discussion of the PDC Contract. The motion was SECONDED by Steve Straus and CARRIED unanimously by the Committee. IV. COMMITTEE DISCUSSION A. New EDC Members The Committee shared their experiences to-date in their search for a new member. It was agreed that the Committee needed to have someone on board from the developer field and Chair Oliphant told the Committee they needed to present some names to Mayor Schlenker soon for appointment Dick Anderson suggested the EDC advertise in the City newsletter for persons interested in applying for the vacancy. Ted Schneider said he would put something in the City's newsletter. Chair Oliphant further suggested that he and Ted Schneider go to the L.O. Review and talk to Tom Decker about the vacancies and maybe an article could be written about the vancancies that would generate interest in the community. Bob Chizum suggested the EDC set a date of January 21 to submit a list of prescreened individuals to Mayor Schlenker for consideration. EDC Minutes January 2, 1992 Page 1 • • Ted Schneider further reported to the Committee that Mark Rockwell, the EDC Liaison from the Chamber of Commerce, recently resigned from the Chamber. Chair Oliphant will call Patricia Rovainen, President of the Chamber, regarding this vacancy. V. REPORTS A. Water Sports Center/Excursion Boat Dock Ted Schneider reported that the drawings are complete and Rob Barrentine, of Barrentine, Bates & Lee Architects, has them. Mr. Schneider reported there were some cost increases in the materials and this could mean either a budget increase or a downscaling of some materials. Mr. Schneider said he would have a revised cost estimate by Monday, January 6, 1992. Steve Straus asked Mr. Schneider for a copy of the drawings. B. Block 138 Ted Schneider reported that the Agency closed on Tax Lots 7800 and 7900 on the 31st of December. The new leases were delivered to the tenants on January 2, 1992. One tenant moved out before the Agency took ownership. Bob Chizum questioned why the Agency did not assume the existing leases. Mr. Schneider reported that the old leases had a clause stating they terminated upon sale of the property and new leases were drawn up. Bob Chizum was disappointed that the Committee wasn't included in the writing of the leases and the decision as to how much rent would be charged. Chair Oliphant concurred and it was recommended for future acquisitions to involve the Committee when drawing up leases. Also, Ted Schneider told Bob Chizum he would provide him with the breakdowns of the old leases and the proposed new leases. Bob Chizum also wanted an explanation of the use of relocation monies for the relocation of tenants from property acquired by LORA. Mr. Chizum wanted to know if there was a formula. Chair Oliphant said this could be brought up at the next meeting. Chair Oliphant reported that Mayor Schlenker wanted to know where the EDC was in regard to developers for Block 138. Bob Chizum thought the EDC should be contacting those developers they already talked to and were favorably impressed with. Steve Straus suggested talking to a few commercial real estate brokers. Chair Oliphant suggested writing to developers in the Pacific Northwest. Bob Chizum will provide Ted Schneider with a copy of Shopping Center Age to help with putting together a list of new developers to contact. ACTION: It was the Committee's concurrence to begin the search for developers. Ted Schneider will coordinate with Chair Oliphant on drafting a letter to send to developers asking them for ideas for mixed—use development. An aerial photograph of the area will be included in the letter. EDC Minutes January 2, 1992 Page 2 • • C. Main Fire Station Ted Schneider reported that the architect has the contract and a signed copy is expected back shortly. Steve Straus wanted to know if the Agency was going to hire a project manager. Steve Straus recommended hiring a project manager and suggested the EDC bring this issue to the LORA meeting on January 21. Dick Anderson further suggested that in lieu of a project manager for a specific project, that the City hire a staff person to handle all projects. Ted Schneider reported that he will assume the responsibility of project manager for the fire station project. It was the concurrence of the EDC that the fire department should have the opportunity to meet with the architect in the beginning and that further communication will be between the architect and the project manager. D. Lakewood Bay Walk Bob Chizum suggested putting this project on the back burner and the Committee agreed. Steve Straus suggested the EDC pass this along to the Natural Resource Committee to see if they'd be interested in beautifying this wetland area. ACTION: Chair Oliphant and Steve Straus will try to meet over coffee or lunch with a mutual friend in the commercial landscape field and see if they can get some ideas for the project. Chair Oliphant felt that he'd like to have some inexpensive ideas for the park before considering passing the project on to another committee. E. Committee for Citizen Involvement. (CCD Forum Ted Schneider reported that the CCI asked to meet with the EDC on February 13, at 7:00 p.m. to discuss East End issues. The EDC agreed to put underground utilities on the agenda for the meeting. Bob Chizum asked the EDC why CCI members don't attend EDC meetings. It was also noted that seldom is the EDC attended by members of the community. ACTION: At the suggestion of Bob Chizum, it was agreed to ask CCI Chair, Sid Bass, to attend the next meeting of the EDC scheduled for February 6, 1992. F. FDC 1992, Work Pl„n Ted Schneider reported that the Annual LORA/EDC Meeting will begin at 7:00 p.m. on January 21. Chair Oliphant told the Committee he will be out of town and unable to attend the Annual Meeting. Mr. Schneider distributed copies of the proposed 1992 Work Plan to the Committee for their review and comment. After some discussion, the Committee made a few changes to the draft. Mr. Schneider will finalize the Work Plan incorporating the agreed upon changes and then forward the Work Plan to LORA. EDC Minutes January 2, 1992 Page 3 ! • In preparation of the Annual Meeting, Steve Straus requested Ted Schneider provide him with copies of all the franchise fee agreements the City has with the telephone and cable companies, when they expire and the fees associated with them. G. LORA Refinance, Bob Kincaid, Assistant City Manager, and Doug Waugh,Financial Analyst for the City, attended this portion of the EDC meeting to provide the Committee with a status report on the LORA refinancing. Mr. Kincaid reported that he was currently in the process of replacing the interim financing with some longer term financing in order to maximize the debt. Measure 5 had a substantial impact on the Redevelopment Agency. Refinancing has to be done by February 1993 and the interest rates are favorable now. The Agency is in the process of retaining a financial advisor, and Charles Kupper of Spencer and Kupper has been hired as a consultant to assist staff with the refinancing. The EDC spent considerable time discussing the refinancing issues with Messrs. Kincaid and Waugh and Mr. Waugh informed the Committee he was available for any questions they might have in the future. VI. OTHER BUSINESS IJtili v tJndergnding Ted Schneider reported that the PGE utility francise is on the January 7, 1992, City Council agenda. Chair Oliphant and Dick Anderson were in favor of the proposal presented to the City by PGE. PGE's proposal is to renew the existing agreement as it stands but with a possibility of reopening it in five years. The EDC agreed with this interpretation. ACTION: Chair Oliphant will write a letter with the assistance of Steve Straus. In the letter the EDC will ask LORA to pass the 1.5 percent franchise fee. Doug Oliphant will also call the Mayor before sending the letter. Chair Oliphant will attend the January 7th meeting if there will be an opportunity for him to speak. Steve Straus will attend the meeting whether he gets to speak or not. Each of the Committee members agreed to call Council members prior to the January 7th meeting to discuss the franchise fee and the PGE franchise agreement with them. TEFRA Hearing Ted Schneider reported that LORA is proposing to use Qualified Redevelopment Bonds (QRB) as a replacement of the line of credit. Mr. Schneider explained to the Committee that QRBs are a financing mechanism that are somewhere between the full cost of the line of credit or a taxable bond and the tax exempt bond. The interest rate paid on the QRBs reflects that position between the two. The money can be used for projects that normally only come under taxable items (line of credit). The advantage to using QRBs is they are less expensive than using a line of credit. EDC Minutes January 2, 1992 Page 4 • Mr. Schneider further reported to the Committee that in order to use the QRBs the Agency is required by the Tax Equity and Fiscal Responsibility Act of 1987 (TEFRA) to give the public an opportunity to comment on how the funds will be used. The EDC will hold the public hearing on Thursday, January 16 in the Personnel Conference Room of City Hall at 4:00 p.m. The EDC will then report the outcome of the hearing to LORA. A public notice was printed in the Lake Oswego Review announcing the hearing explaining that the funds would be used for the acquisition of land and improvements located at the addresses listed on Block 138, demolition, relocation and infrastructure improvements. Bob Chizum said that he would be out town on that date and thus unable to attend the hearing. Steve Straus said he could attend; Dick Anderson said he would put it on his calendar. U.S. Bank Ted read the invitation he received from U.S. Bank inviting him to the grand opening of their new bank and ribbon cutting ceremony of the Lake Oswego Room at their new location on State Street, Monday, January 6 from 6-8 p.m. Chair Oliphant, Bob Chizum, Dick Anderson, Steve Straus, and Ted Schneider will attend. VII. ANNOUNCE DATE,TIME & PLACE OF NEXT MEETING The next meeting of the East End Development Committee is schedule for Thursday, February 6, 1992, beginning at 7:00 p.m. in the Personnel Conference Room located on the first floor of City Hall. VIII. ADJOURNMENT The meeting of the East End Development Committee was adjourned by Chair Oliphant at 9:30 p.m. Respectfully submitted, Mary JoEv•ns Recording Secretary EDC Minutes January 2, 1992 Page 5