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02/16/1999COMMUNITY REDEVELOPMENT AGENCY MEETING CITY OF CLEARWATER February 16, 1999 Present: Rita Garvey Chair Ed Hooper Trustee J. B. Johnson Trustee Robert Clark Trustee Empty Seat Trustee Also Present: Michael J. Roberto City Manager Rick Hedrick Deputy City Manager Bob Keller Assistant City Manager/CRA Director Pamela K. Akin City Attorney Diane Smith Downtown Manager Cynthia E. Goudeau City Clerk Patricia Sullivan Board Reporter The Chair called the meeting to order at 9:11 a.m. at City Hall. To provide continuity for research, items are in agenda order although not necessarily discussed in that order. ITEM #2 - Approval of Minutes Trustee Hooper moved to approve the minutes of the January 19, 1999, meeting, as recorded and submitted in written summation by the City Clerk to each Trustee. The motion was duly seconded and carried unanimously. ITEM #3 - Approve payment of a parking incentive to the parking system for Wakely & Associates, Inc. upon demonstration of certain performance standards for total of $40,000 over 7 years Wakely and Associates, Inc., an actuarial and consulting firm, is negotiating to lease more than 20,000 square feet of downtown office space. This company’s relocation from outside Clearwater would add at least 125 employees downtown and help fulfill the City goal to attract “Industries of the Mind” and jobs that support families. To attract the firm, staff recommends an incentive package valued at $100,000 over the term of a 7-year lease. At signing of a lease for more than 20,000 square-feet in downtown and the execution of an agreement with the City and CRA (Community Redevelopment Agency), the firm would be paid $20,000 from the Brownfields Stabilization Fund to assist in equipping the new offices. The parking system would guarantee up to 50 spaces in the Garden Avenue Garage, providing the firm up to $80,000 in free parking. The CRA will pay the Parking System $40,000, and the Parking System will subsidize the remaining $40,000. If the Parking System’s legal or bonding situations change, the CRA will assume the System’s remaining obligation. The parking incentive will be triggered when the firm employees more than 96 in its downtown office. As parking arrangements becomes necessary, staff will forward the appropriate budget amendments. Cards will be provided for use in the Garden Avenue Parking Garage. Trustee Johnson moved to approve payment of a parking incentive to the Parking System for Wakely and Associates, Inc., upon demonstration of certain performance standards for a total amount of $40,000 over seven years and that the appropriate officials be authorized to execute same. The motion was duly seconded and carried unanimously. ITEM #4 - Provide direction re DDB’s request to be relieved of all future obligations to reimburse the CRA for a portion of the cost of acquiring the property known as the Atrium of Clearwater and Park Street Garage On October 11, 1983, the DDB (Downtown Development Board) entered into an agreement to pay the CRA a portion of the cost to acquire the Atrium property and Park Street Garage. A formula in the agreement determines the annual reimbursement. By the end of FY (fiscal year) 1997/98, the DDB had paid the CRA $95,382.62, leaving a $125,075.38 balance. For the current fiscal year, the DDB owes $7,352.16. If paid, a balance of $117,723.33 will be owed the CRA. In his February 2, 1999, letter, DDB Chair Glenn Warren requested relief from all future obligations to this agreement, noting the CRA had sold the property and the DDB wants to commit the funds to projects directly beneficial to downtown. The CRA has budgeted this DDB obligation as a revenue source. Approval would affect available programming dollars. Assistant City Manager/CRA Director Bob Keller reviewed the request. It was noted sale of the property was obligated in 1993, after significant public input, but was not finalized until 1998. Staff recommended the CRA take no action this year. The request would require the CRA to absorb substantial debt. In response to a question, Mr. Keller said the funds under discussion are earmarked for Main Street activities and downtown facade improvements. Trustee Johnson moved to continue consideration of the DDB request that it be relieved of all future obligations to reimburse the CRA for a portion of the cost of acquiring the property known as the Atrium of Clearwater and Park Street Garage until FY 1999/00 budget discussions. The motion was duly seconded and carried unanimously. ITEM #5 - Assistant City Manager Verbal Reports Downtown Manager Diane Smith said a concert with a Mardi Gras theme is schedule on February 26, 1999. ITEM #6 - Other Business a) Appoint Trustee Johnson as ex-officio to DDB Trustee Clark moved to appoint Trustee Johnson as the board’s ex-officio member to the DDB. The motion was duly seconded and carried unanimously. ITEM #7 - Adjourn The meeting adjourned at 9:24 a.m.