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Home My Public Portal AboutEDACP 2023-01-31mr Yi yrholl COL }i 4 ixo Economic Development Advisory Committee Special Meeting Agenda Fraser Town Hall, 153 Fraser Avenue and Virtually Tuesday, January 31st, 2023 9:00 AM- 11:00 AM NOTE: Times are approximate and agenda subject to change Virtual Meeting Information https://us02web.zoom.us/j/2590408013 Meeting 10:259 040 8013 Phone 1-346-248-7799 1. Roll Call 2. Approval Of Agenda 3. Consent Agenda a. Minutes 12 20 22 Documents: L IDAC 12 2 22 Rif 4. Discussion Items a. DDA - Ed Cannon Documents: 2301 [30 II DDA b. Farmers Market - Nicole Documents: FE:I irm IIlde :ws.p(# c. Colorado Mainstreet Update - Paula 5. Other Business 6. Future Agenda Items 7. Adjourn F1 1�x.lpd Members of the Fraser Board of Trustees may attend this meeting. ECONOMIC DEVELOPMENT ADVISORY COMMITTEE MINUTES DATE: Tuesday, December 20th, 2022 MEETING: Economic Development Committee Regular Meeting PLACE: Fraser Town Hall Board Room PRESENT Board: Barry Young, Nicole Spiteri, Paula Stuart, Kelsey Young, Autumn Bishop Staff: Marketing and Communications Manager, Sarah Wieck; 1. Regular Meeting: Roll Call 9:05 am 2. Approval of Agenda: Nicole moved, Barry seconded. Motion carried 5-0 3. Consent Agenda: Nicole moved, Barry seconded. Motion carried 5-0 4. Discussion a. Farmers Market — Nicole will update in the December meeting a. Nicole sent out a survey to determine the best day b. Sunday AM c. July 16,30 & Aug 13, 27 b. Fire & Ice 2023 a. We're looking for volunteers and sponsors c. Mainstreet Update a. The first draft of the application was submitted and needs tweaking 5. Open Forum: 6. Other Business: 7. Future Agenda Items Page 2 of 2 a. Datafy b. Mainstreet c. CDOT Grant d. DMO RFP 8. Adjourn 9:30 am Nicole moved to adjourn, Kelsey seconded. Motion carried 5-0 DOWNTOWN COLOR AD O, INC. AU IN Colorado's do , ownchai,olo since 1982 of e Do ers. O1= -L= O W own t ow n ,te a i i L. 'ions v i 'y` d w e F� orG S r i .. >-}'= L �` ! es i 3# I a p e t: Educational Events Advocacy ac's I'O It DnAr „-% in i n I a Co lorenge Pr ram Ev .n=. re 3 ern Js e, we a DOWNT OW N COLORAD O INC Our Po gram Areas ORADO DOW TO i MP(ON C LL A T ! C OLORADO_ NC_ Stagnant Growing Mature Ch allenged, with high vacancies, underutilized properties, uninviting public realm and poor regional image Up a nd coming, with a sprinkling of new businesses, pioneering new investments and an image of a district in transition Established, with a strong mix of retail, resta ura nts and jo bs, inv iting public realm a nd stro ng regional image Grass -roots org anizing, volunteer committees, tax increment financing, Loc al g overnment support, b oth m oney and services, grants, earned income from development Pr operty or business assessments, re venue generating promotions and special events, membership dues P arking re venue, loc al impr ovement b onds, merchandising the district SSS:S:SS::::S:S:S::::SSSS:SSS:SSSSSSSS:S:SS::SSSS::SS:S:S:::::: :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: SSSSSSSSSSSSSSSSSSSSi4TMSSh777777777777T77777777777777777iTMSSSSSSiSSiSh777777 .............. SSSSSSSSSSSSSSSi4TMSSiiSSii'h �447777Si4TMSSSSSSSSSSSSiTMSS77 00 5 0 .W14 Att IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 1111111111111111111111111111111111111111111111111 sttra I no es nee StabIIze the env ironment •Create corm once anon - local sta kehoiers combat regional Hama n e w sses rea o rs mean ew o�ners ousnesses Conv ey a new enera_na -mane • Retain and grow businesses • M anage new investment • Market the area to consumers • P arking manag ement • Keep organizati on fresh to keep stakeholders eng aged •Strengthen a positive image 'iiiii uiildl ;u; iii ii 101 ( 111 11 I1 11 1 11 II II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II III II I I I I IJI I I I I 1 1 1 1 1 I 11 111 1 111 1 I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II II I II I I VIII 1 1 1 1 1 2 III �Uvp 11111111111111111111111 1 1 11 111 1 ud 111111111111111111111111111111111 pop - ION" 11111111111111111111111 11111111111111111111111 1111111111111111111111111111111111111111 11111111111 1111.11111111111111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 111 11 1I 11 11.. 1111.... 11 111 11 111 11 111 11 111 11 11 TIF INCENTIVE TS 'rr-r-*----cT:7---------rl__= Fi sto mpr0v preve' TIF ELIGIBLE COSTS Public er Infrastructure entS and Utilities ion Parking Facades P OPERTY ACQ UISITION IOS Ec onomic Devel opment and beautification . Acquir e, finance, install and operate publi c improvements, includi ng but not limited to: str eets, sidewalks, curbs, pedestri an malls, lan dscaping, statuarie s, fountains , bike paths, be nches, informati on booths, public meeting fa cilities. May impo se: ad valo rem property taxes, rate s and cha rges for services or impro ve me nts, and specia l asse ssments. Functio ns as a taxing authority. Cann ot u se TIF. Does n ot own property. Urban developm ent or redevelopment. Implement a pl an of development f or th e downt own developme nt area, which could includ e eve nts, beautification, business supp ort, and more. May use TIF funding for sal es and property t ax f or a period of 30 ye ars, and/or impose mill levy up to 5 mills within th e downtown devel opm ent are a for operati ons of the DDA . May a cquire property thro ugh sale or gift. May sell at fair market value. Dominantly Co mmercial Downto District (50% of use s] or future co mmercial distric t. n district. Stimulat e Reinvestment to improv e eco nomic conditions. C arry out "urban r enewal projects;" plans to assist th e m uni cipality ...to elimi nat e and preve nt the development or spr ead of slum and blighted areas; to encourage n eeded urba n rehabilitati on; provide for th e redevelopment of s uch areas; providing p ubli c impr ov em ents; enc ouraging r eh abilitation and repair; [...] pl ans for voluntary repair and reh abilitati on . May use TIF fu nding f or sales, lodging_ , and pr operty t ax for a period of 25 years. M ay buy, sell, or m anag e property. May r eceiv e gra nts and allocati ons from partner pr ograms. May acquire property through sale, gift, or eminent d omain . Must disp os e of through r easo nable competitive bidding procedures. Special procedures apply for property acquired through emin ent domain to be transferred to a private party . Same bo undary as municipality; may designat e districts for TIF. Halt + Deter Blight PURPOSE FU DN Mill Levy + Speci al Assessment PLANS O perating Plan Budget Approved by Council G As you wish... COVERAGE Plan Bo undary DECIDED BY ----------- PR Remove Blight TIF + Mill Levy TIF +Plan of Devel opment Condition Study +Byl aws Imp act Report +Appro ved by Council TIF Agreement 30 Years 25 Years May extend by 15 Traditional Commercial Area Plan Boundary Municipality. PUBLIC -PR IliAIE QUESTIONS +TH OUGHTS IS A FINANCING MECHANISM THAT HELPS THE COMMUNITY ENCOURAGE PRIVATE SECT OR INVESTMENT AR OUND COMMUNITY VISION. W WN COLORADO_ w Ta x Increment Pro " 00n,00( $4,837,000 $6,000,000 0: D1 ti ti tititititi1111115�11�1ti�ti��tiltiltilti1�S11111y1 BMW 111111111111111111111111111 • 7 l I • 1 1 1 1 I I' I" 1 1 1 9 10 Bay Value l it it it it MUMS MI 13 ec it IS I p 11 II 01, N 14 1- Increment on 11111111111111111111111111111111111111i111111111111111111111111111111111=BE 1 it I. 1 p it i it it is i it i it I' 11111111111W "11111111111111111W .1111111111111111111111111U 11111111111111111111111111111141111111111111111111111111111S111111111111111111111111111 11� 11�111�111�111�111111111111,5��1��1��1�1��1�1��11�11111111�111�111�11�111111111111 1�1�1�1�1�1�11�111�4�111�1�1�1�1�11`11111 $10,954,000 $6,135,000 24 5 25 YEARS \MO INVESTMENT 25 YEARS W/ INVESTMENT RETURN ON INVESTMENT FOR OTHER TAXING ENTITIES AFTER 25 YEARS $6,135,000 $10,954,000 W WN COLORADO_ QUESTIONS +TH OUGHTS DOWNTOWN COLOR AD O, INC. 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