TC Minutes 02-25-2003MINUTES OF THE REGULAR MEETING OF THE AVON TOWN COUNCIL
HELD FEBRUARY 25, 2003
A regular meeting of the Town of Avon,, Colorado was held in the. Municipal Building, 400
Benchmark Road, Avon, Colorado-in the Council Chambers.
Mayor Buz Reynolds, called the meeting to order at 5:30 PM. A roll call was taken with
Councilors Michael Brown, Debbie Buckley, Peter Buckley, Brian Sipes, Ron Wolfe and Mayor
Pro Tern Mac McDevitt present. Also present were Town; Manager Larry Brooks, Town Attorney
John Dunn, Town Clerk Patty McKenny, Human Resource Director Jacquie Halburnt, Town
Engineer Norm Wood, Recreation Director Meryl Jacobs, Public Works Director Bob Reed,
Transit Director Harry Taylor, Finance. Director ,,Scott . Wright,'. Police Chief Jeff Layman,
Community Development Director Ruth Borne, as well as members of the press and public.
.Ordinances
Public Hearing - Second Reading
Finance Director Scott Wright presented on second reading Ordinance No. 03-04, Series of
2003, an Ordinance Authorizing Execution of a Certain Governmental Lease-Purchase Master
Agreement. He noted that the Ordinance adopts a Lease-Purchase Master Agreement with
Wells Fargo Brokerage Services, LLC, for the purchase of equipment previously appropriated
within the 2003 budget; for the refinancing of previously lease-purchased equipment; and to
transfer certain lease-purchase obligations to the Eagle River Fire Protection District. He
continued to describe which items would be refinanced & purchased as follows, 1) refinance on
payments for 5 "pieces of equipment that were leased in 1998, 2) refinance on payments for 3
vehicles leased in 1999 & 2000, 3) purchase 3 pieces of equipment for public works. The
advantages include savings to the Town estimated at $7,700 over the next 2 years as well as a
financing at a lower interest rate.
Mayor Reynolds opened the public hearing, no comments were made and the hearing was
closed. Councilor D. Buckley moved to approve Ordinance No. 03-04, Series of 2003, on
second reading, an Ordinance Authorizing Execution of a Certain Governmental Lease-
Purchase Master Agreement on first reading. Councilor Brown seconded the motion and it
passed unanimously.
First Reading
Town Attorney John Dunn introduced the Town's bond counsel, Kurt Kaufman with Sherman
and Howard, who presented Ordinance No. 03-05, an Ordinance refunding bonds for Kroger
Company. He presented historical information about the original financing for the construction
'of City Market that occurred in 1980. This refinancing would be the second time Kroger as
taken advantage of competitive interest rates; an earlier refinancing occurred in 1985. He
highlighted the fact that the Town is not liable for any of the debt incurred with this issuance. He
explained that the bonds were Industrial Development Revenue Bond which were a popular
type of bond sold in the eighties. This type of bond issuance is no longer available to the retail
sector. He answered several additional questions from Council.
Councilor Brown moved to approve Ordinance No. 03-05, Series of 2003, on first reading, an
Ordinance Authorizing The Issuance Of Not To Exceed $2,745,000 Adjustable Rate Demand
Industrial Development Revenue Refunding Bonds, Series 2003 (The Kroger Co.) Of The Town
Of Avon, Colorado (The "Issuer"), The Proceeds Of Which Shall Be Loaned To The Kroger Co.
For The Purpose Of Providing Funds For The Refunding Of Bonds Previously Issued By The
Issuer To Refinance Costs Of A "Project" Within The Meaning Of The Colorado County And
Municipality Development Revenue Bond Act; Authorizing A Loan Agreement And Trust
Indenture Appropriate For The Protection And Disposition Of Such Revenues And To Further
Secure Such Bonds; Authorizing A Bond Purchase Agreement And Tax Regulatory Agreement
And Authorizing Other Actions In Connection With The Issuance Of Such Bonds. Councilor
McDevitt seconded the motion and it passed unanimously.
Councilor P. Buckley summarized some of what took place at the earlier work session regarding
discussions with a number of City Market / Kroger Company representatives. He noted that the
community has had some concern with the products offered at the local City Market. Mike
Shunk, Real Estate Representative with Kroger, was present to answer any additional questions
and inform the Council and community that City Market wants to remain a primary player in
Avon's business community.
Town Engineer Norm Wood presented Ordinance No. 03-06 - An Ordinance Authorizing
Conveyance of Lots 2, and 3, Resubdivision of Lots 1,2,3,4, and 5 McCrady Acres. He noted
that the Resubdivision of Lots 1, 2, 3, 4 and 5 along with reconfiguration of public road rights-of-
way has resulted in various lot lines and road rights-of-way overlapping lot lines and rights-of-
way in the original subdivision. This has created potential conflicts of ownership between the
old and new propert y lines. The Bargain and-Sale Deeds (included in the packet) resolves
these ownership issues and clarifies title to the properties conforming to the current subdivision
and lot lines. The Ordinance authorizes the Town to execute the Bargain and Sale Deed
conveying Lots 2 and 3, McGrady Acres to Traer Creek-RP, LLC.
Councilor D. Buckley moved to approve Ordinance No. 03-06 on first reading, an Ordinance
Authorizing Conveyance of Lots 2, and 3, Resubdivision of Lots 1,2,3,4, and 5 McGrady Acres.
Councilor Sipes seconded the motion and it passed unanimously.
Resolutions
Public Hearing
Town Engineer Norm Wood presented Resolution No. 03-12, Series Of 2003, A Resolution
Approving The Preliminary Condominium Map, Barrancas, A Resubdivision Of Lot 40, Block 1,
Benchmark At Beaver Creek - Amendment No. 7, Town Of Avon, Eagle County, Colorado
(0491 Metcalf Road). He informed the Council that Barrancas, LLC, owners of -the property
above, submitted a Preliminary Condominium Map to resubdivide the property, a condominium
subdivision of a lot being developed, creating 18 condo units. Staff has mailed Public Hearing
notices to the adjacent property owners. Due to the extensive number of technical corrections,
staff recommends opening the public hearing for comment on this application and continuing the
hearing until the next regular Council meeting (3/11/03).
Councilor Sipes moved to table the vote on Resolution No. 03-12 and continue the public
hearing until the March 11t" meeting. Councilor Brown seconded the motion 'and it passed
unanimously.
Other Business
Michael Cacioppo commented on the topic of water restrictions and encouraged the Council to
be informed on this topic before passing any legislation. He asked that their be equity in any
regulations proposed and asked the Council to relay that message -to the respective Boards. It
was noted that meetings were going to be held-that week with ERWSD to discuss the topic.
Regular Council Meeting Page 2 of 3
February 25, 2003
Consent Agenda
Mayor Reynolds asked for a motion on the Consent Agenda items. Councilor D. Buckley
moved to approve the consent agenda below. Councilor McDevitt seconded the motion and it
passed unanimously.
a. Approval of the February 11, 2003 Regular Council Meeting Minutes
b: Transit Agreement
C. Agreement for Laser Show July 4~'
d. Sherman & Howard - Letter of Engagement
e. Expense Recovery Agreement / Kroger Company
f. 'Village at Avon - Wolford Mountain Water Storage Agreement
g. Resolution No. 03-11, Series Of 2003, A Resolution Approving the Final Plat, a
Resubdivision of Lot 16, Block 2, Wildridge, Town Of Avon, Eagle County, Colorado
There being no further business to come before the Council, the meeting adjourned at 6 PM.
APPROVED:
Michael Brown
Debbie Buckley
Peter Buckley
Mac McDevitt
Buz Reynolds
Brian Sipes
Ron Wolfe
Regular council Meeting Page 3 of 3
February 25, 2003