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Revitalization Commission <br />Minutes <br />January 14, 2013 <br />Page 2of 4 <br />Reports of the Commission <br />–Carlos reported HPC invited two LRC members <br />to attend HistoricPreservation Conventionin Denver,for two days. Carlos has <br />also met with HPC on action items for both Boards, including low cost, high- <br />impact micro loans. <br />Business Matters of the Commission <br />– <br />a.LRC Budget: Carlos asked if the fund shown in the budget included the <br />cost of legal services. <br />b.Approval of Budget: Board passed Resolution 2013-01 to approve the <br />2013budget by a unanimous vote. <br />c.Election of Officers: Board unanimously approved to continue with officers <br />in present capacities. <br />d.Designation of Posting Places: Unanimously approved by Board. <br />e.Discussion/Action of financial structure for future TIF agreements: <br />Aaron provided an overview of the two funding options and recommended <br />the Board approve the second option, identified as Project Specific <br />Supported Obligation. Karl then asked each of the Board members for <br />comment. <br />Michael did not think item number 2 under the list of cons for option one <br />(Entire District Supported Obligation), is a negative. He noted 65% of the <br />DELO development borders on other properties, and that option 2 <br />shortchanges the improvements made by DELO development. <br />Alex suggested trying to find enough funding, possibly with Public Works, <br />to support larger, $4M infrastructure improvement in order to maximize <br />impacts to URA, not appear to favor DELOand to take advantage of the <br />current favorable bidding climate.He asked to review the detailed <br />breakdown of DELO’s infrastructure estimates and possibly meet with <br />Staff to go over the numbers. <br />Robfelt option 2 is the proper approach, but in this case there is a need to <br />allocate some costs to others besides DELO in order to be fair. Need to <br />find out who would benefit and by how much. Rob generally agreed with <br />what Michael and Alex said. <br />Mayor Muckle agreed with Rob’s position, with option 2 making the most <br />sense, allowing for caveats noted by Mike and Rob. <br /> <br />