Business Retention and Development Committee Agenda and Packet 2011 03 07

Home Browse Search

BRaD & LRC Joint Meeting Meeting Summary February 7, 2011 Page 2 of 4 LRC CONSENT AGENDA: January Minutes – Approved as written. LRC 2011 Slate of Officers: Approved Mayor Sisk as Chair, Rob Lathrop as Vice- Chair, and Carlos Hernandez as Secretary All members are willing to continue to serve in the same capacity for 2011. PUBLIC COMMENTS NOT ON AGENDA - None Mayor Sisk gave an update on Fastracks. The original target for completion was 2027, however, by a poll of a cross-section of the population it’s likely the public would vote on an increase of sales tax to 4/10 of 1% to allow an earlier completion of 2019. There will be an opportunity for public nd comment at the RTD Board Meeting on Tuesday, February 22. Mayor Sisk and Deputy City Manager Balser will be visiting Washington D.C. next week to lobby for additional funds. DISCUSSION WITH RMCS REGARDING FUTURE REDEVELOPMENT OF THE AGGREGATE CONCRETE PROPERTY IN REVITALIZATION AREA: RMCS staff, David Waldron, Rick Brew, and Justin McClure were present. Justin McClure presented some conceptual ideas for the approximately 5 acre parcel known as the Aggregate Property and they are very excited to see a transit-oriented development go forward with the #1 priority being for an underpass at South Street. RMCS staff will work with adjacent land owners to develop the site. The area currently is light industrial and property is zoned mixed-use. Any development proposed would be presented to the City as a PUD request. Currently, there are no proposals that have been presented to the City. History of Aggregate Property Acquisition: 2008 – RMCS talked with Aggregate Summer of 2010 – Re-engaged December 16, 2010 – Executed Purchase Contract December 30, 2010 – Quasi-Close February 28, 2011 – Complete due diligence Physical Characteristics of Property: West to East grade variation – 10 feet lower on east of tracks than on the west. This property has the largest grade variance along the entire length of the corridor Serviceability and Utilities – A utility corridor exists on Lafayette Street. Sewer line is only 5 feet below ground in some areas so the design for development would need to factor in placing the sewer line lower. There is access to fiber optics.