05-08-13 Urban Renewal Agency NotesMay 8, 2013 URA Work Session Office Notes:
Developer's Agreement:
• Change 'ROYBAL' to 'Lucero Roybal Investments LLC' throughout the document due to
property records showing ownership by 'Lucero Roybal Investments LLC'
• Insert the word 'historic' before each mention of fagade improvements throughout the
document
• Include clause stating a one year time frame to complete improvements
• Edit obligations of the city by stating Lucero Roybal Investments provides the city with an
invoice and their (Lucero Roybal Investments) amount due; the City then pays the
contractor up to $33,757 in grant fund and the remaining balance from Lucero Roybal
Investment
• Under obligations of the city no. 3 add 'for private investment improvements' before
`made to...'
• The URA questioned the enforceability of the document and continuity in the event of a
transfer of ownership and would like wording inserted referencing both issues
2011-2012 Annual Report:
• Delete disclaimer on second page
• Include properties missed (Doug Conners can provide information) in the 2011 Certified
Taxable Valuation Information on page 2
• Remove all mention of council members names
• Remove second to last sentence on page 6. "Additionally...."
• Page 9-Identify 10 subject properties outside TIF and use as a comparable
• Page 12-Old School Station -Include wording "Due to non-payment of property taxes as
assessed there exists the potential for increment values to be inadequate to meet SID
payments as pledged."
• Add wording on challenges faced in each TIF
Technical Assistance:
• In the guidelines, clearly define'publically owned properties'
• Add a claw back provision stating improvements must be completed within one year of
grant funding or funding will be reimbursed by applicant
• Application process -Section 3- Delete line "...on requested services to City Council..."
• In place of having a pool of developers for applicants to choose from, ask applicant to
provide a company and contact they prefer to work with; URA then reviews that company's
qualifications, liability, etc and decides if the firm is approved.