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TC Council Packet 12-09-2008TOWN OF AVON, COLORADO - V WORK SESSION MEETING FOR TUESDAY, DECEMBER 9, 2008 VON MEETING BEGINS AT 12 PM AVON TOWN HALL, ONE LAKE STREET PRESIDING OFFICIALS MAYOR RON WOLFE MAYOR PRO TEM BRIAN SIPES COUNCILORS RICHARD CARROLL, DAVE DANTAS, KRISTI FERRARO AMY PHILLIPS, ALBERT "Buz" REYNOLDS, JR. TOWN STAFF TOWN ATTORNEY: ERIC HEIL TOWN MANAGER: LARRY BROOKS TOWN CLERK: PATTY MCKENNY ALL WORK SESSION MEETINGS ARE OPEN TO THE PUBLIC EXCEPT EXECUTIVE SESSIONS COMMENTS FROM THE PUBLIC ARE WELCOME; PLEASE TELL THE MAYOR YOU WOULD LIKE TO SPEAK UNDER NO. 2 BELOW ESTIMATED TIMES ARE SHOWN FOR INFORMATIONAL PURPOSES ONLY, SUBJECT TO CHANGE WITHOUT NOTICE PLEASE VIEW AVON'S WEBSITE, HTTP: / /WWW.AVON.ORG, FOR MEETING AGENDAS AND MEETING MATERIALS AGENDAS ARE POSTED AT AVON MUNICIPAL BUILDING AND RECREATION CENTER, ALPINE BANK, AND AVON LIBRARY THE AVON TOWN COUNCIL MEETS ON THE SECOND AND FOURTH TUESDAYS OF EVERY MONTH 12:00 PM —12:30 PM 1. EXECUTIVE SESSION pursuant to C.R.S. 24- 6- 402(4)(b), for the purpose of receiving legal advice from the Town Attorney, on specific legal questions related to the Village at Avon and pursuant to C.R.S. 24- 6- 402(4)(e) determining positions, developing strategies and instructing negotiators with regard to the Village at Avon 2. INQUIRY OF THE PUBLIC FOR COMMENT AND APPROVAL OF AGENDA 12:30 PM —12:45 PM 3. COUNCIL ORIENTATION DISCUSSION: CONFLICT OF INTEREST OVERVIEW (Eric Heil, Town Attorney) Overview of conflict of interest rules, guidelines and considerations 12:45 PM —1:15 PM 4. COUNCIL COMMITTEE AND STAFF UPDATES a. Eagle Vail Community Meetings Update (Kristi Ferraro, Councilor) Riverview Apartments renovation and the ULI study update b. Land Exchange Update (Ron Wolfe, Mayor) c. IronKids Triathlon Proposal (John Curutchet, Recreation Superintendent) Update on event's choice to use Avon's as its regional location to be held September 4, 5, 6, 2009 d. Allocation of PEG Funds (Scott Wright, Assistant Town Manager Finance) Review of request for funding from Public Access 5 Television for upgrades to system 1:15 PM — 2:15 PM 5. INCENTIVE POLICY / COMMUNITY REVITALIZATION (Scott Wright, Assistant Town Manager Finance, Anne Ricker, Leland Consulting Group) Review of final draft of proposed Incentive Policy and Guidelines for Public Sector Participation 2:15 PM — 3:15 PM 6. JOINT MEETING WITH PLANNING AND ZONING COMMISSION TO DISCUSS PRE APPLICATION FOR PARCEL IN WILDRIDGE (Matt Pielsticker, Planner II) Review of conceptual development options submitted by Philip Matsen for Tract B, Block 1, Wildridge Subdivision (immediately adjacent to the Fire House) 3:15 PM 7. ADJOURNMENT Avon Council Meeting.08.12.09 Page 1 of 5 1 VWIDNER MICHOW & COX- ATTORNEYS AT LAW MEMORANDUM TO: Honorable Mayor Wolfe and Town Council members CC: Larry Brooks, Town Manager FROM: Eric Heil, Town Attorney DATE: 12 -5 -08 SUBJECT: Conflict of Interest Overview INTRODUCTION: This memorandum provides an overview of conflict of interest rules, guidelines and considerations. Conflict of interest rules and guidelines apply to Town Council members as well as Town employees and members of Town boards and commission. This memorandum discusses general considerations, sources of conflict of interest laws, consequences of violations, and recommended best practices. GENERAL CONSIDERATIONS: Conflict of interest rules and guidelines are an integral safeguard in our system of democracy because they protect against abuse of governmental power. C.R.S. §24 -18- 103(1) states, "The holding of public office or employment is a public trust, created by the confidence which the electorate reposes in the integrity of local government officials, and employees. A local government official or employee shall carry out his duties for the benefit of the people of the state." The Avon municipal code sets forth a Declaration of Policy in Section 2.30.020, which states, "The proper operation of democratic government requires that public officers be independent, impartial and responsible to the people; that government decisions and policy be made within the proper channels of the governmental structure; that public office not be used for personal gain; and that the public have confidence in the integrity of its government." Two basic considerations for conflict of interest matters are whether the conduct is an actual conflict of interest and whether the conduct creates the appearance of impropriety. The latter consideration is important because often times conduct that does not constitute a clear conflict of interest for private financial gain can include other interests affecting the Town as well as the appearance that the interest of a public official is other than the public interest. Note that Avon Municipal Code section 2.30.060 Conflict of Interest December 5, 2008 Page 2 of 3 (8) states that a Town officer shall not, "Perform any official act under circumstances which give rise to appearance of impropriety on the part of the officer;" Ethical rules, statutes and guidelines should be treated as minimum standard, or floor, rather than the ceiling. Actions that are legal may not be ethical. Consultation with the Town Attorney is recommended when the application of conflict of interest rules and guidelines to a specific situation is uncertain. Public officials should always consider the appearance of their conduct as viewed in the harshest public light, not by their own standards of reasonableness. CONFLICT OF INTEREST LAWS: There are five areas in which conflict of interest laws arise, including: Colorado Constitution: Articles IV, §19; art 5, §40; Art. XI § §6 and 7. 2. Statutory Standards of Conduct: C.R.S. §24 -18 -101 et. seq., Code of Ethics, C.R.S. §24 -18 -201 et. seq. Proscribed Acts Related to Contracts and Claims, C.R.S. §31 -4- 404(2) and (3) Requirements and Compensation of Officers. 3. Criminal Code: §18 -8 -302 (criminal bribery), §18 -8 -304 (soliciting unlawful compensation), §18 -8 -303 (compensation for past official behavior); §18 -8 -305 (trading in public office); §18 -8 -308 (failure to disclose a conflict of interest). 4. Avon Municipal Code: Chapter 2.30 Town Code of Ethics 5. Common Law Doctrine of Conflict of Interest: Soon Ye Scott v. City of Englewood Avon Code of Ethics: Avon's Code of Ethics is more extensive than the Statutory Code of Ethics. The definition of financial interest tracks the statutory definition in C.R.S. §24 -18- 102(4) but also extends the definition to the interest of the public official's spouse and dependent children. The Town Code of Ethics proscribes conduct which gives rise to the appearance of impropriety and failure to disclose ex parte contacts. The latter two conflicts of interest are discussed in the Recommend Best Practices section below. The Avon Town Council determines if a conflict of interest exists. Council determines whether a conflict of interest exists for Council members and the Planning Commission determines whether a conflict of interest exists for Planning Commission members. PROCEDURES AND PENALTIES FOR VIOLATIONS: Avon's Code establishes the Town Council as having the primary responsibility for enforcement of the Town Code of Ethics. The Town Council may direct the Town Attorney to investigate and prosecute Widner Michow & Cox LLP Eric Heil, Esq., A.I.C.P. 13133 East Arapahoe Road, Suite 100 Direct Tel 303.754.3392 Centennial, CO 80112 eheil@wmcattorneys.com Conflict of Interest December 5, 2008 Page 3 of 3 violations. Violations of the Town Code of Ethics are punishable by up to $1,000 and one year in jail for each offence. Independent of the Town's Code of Ethics, C.R.S. § 24 -18- 103(2) provides that the District Attorney may bring appropriate judicial proceedings on behalf of the people for a violation of the public trust. These proceedings may be in addition to any criminal proceedings. RECOMMENDED BEST PRACTICES: "Appearance of Impropriety" is a general and subjective term. Much like the definition of pornography, it is difficult to define, but one knows it when one sees it. Generally, the potential impropriety of conduct should be evaluated by how it may appear to the general public. Particular attention should be given to conduct which may appear to involve the use of governmental authority to provide an advantage or benefit for a financial or personal benefit that is not in the public interest and not available to general public. Ex Parte contact is contact by a public official concerning a matter subject to public hearing which contact occurs outside of that public hearing. Ex Parte contact can create a common law conflict of interest if such contact evidences a personal interest. Matters subject to public hearings are considered to be quasi - judicial and applicants are entitled to fair and impartial review by the decision makers. Although there is a presumption of integrity, honesty and impartiality in favor of those serving in quasi - judicial capacities, stating a position on a matter subject to a public hearing prior the hearing evidences personal interest and bias and will disqualify that person's vote. I recognize that inadvertent contact with members of the public can often occur when public officials are approached by interested citizens. Also, it may be viewed as impolite and inappropriate for a public official to not communicate with members of the public. A recommended appropriate response is to explain (1) the matter is subject to public hearing, (2) you are sitting in a judicial capacity by reviewing the application and must remain impartial, (3) you are not permitted to discuss the application or formulate an opinion before review all information at the hearing, (4) if you discuss the matter you may be disqualified from voting, and (5) information regarding the application and review procedures are available through the Town Hall. Inadvertent contacts and an explanatory response as to why the matter cannot be discussed do not constitute "ex parte" contact and do not need to be disclosed. However, any discussion of an application subject to a public hearing prior to the public hearing should be disclosed. Widner Michow & Cox LLP Eric Heil, Esq., A.I.C.P. 13133 East Arapahoe Road, Suite 100 Direct Tel 303.754.3392 Centennial, CO 80112 eheil @wmcattorneys.com MEMORANDUM To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: John Curutchet — Recreation Programs Superintendent t Danita Chirichillo — Special Events Supervisor Meryl Jacobs — Director of Recreation and Cultural Services Date: December 9, 2008 Re: IronKids Triathlon Summary: Staff is pleased to announce that the Town of Avon has been chosen to host one of eight regional triathlons scheduled for September 4 — 6, 2009. The race will take place on Sunday, September 6 with additional activities planned for September 4th and 5th Discussion: The recreation staff has started discussions regarding the operations, selling, marketing and promoting of the event with the IronKids Director. The Westin Riverfront Resort & Spa will be the host hotel for the event weekend. IronKids Avon, Colorado is targeting 800 youth athletes participating in one of three lengths depending on age. Category Age Swim Bike Run Junior 6-8 50 yards 2 mile 500 yards Intermediate 9-11 150 yards 4 mile 1 mile Senior 12-14 300 yards 8 mile 2 miles Financial Implications: The $9,500'rights fee to host a regional event is currently in the 2009 budget. Staff will work towards recouping any additional operating costs through sponsorship. Additional funds have been requested to support operations through the Holy Cross Community Enhancement Program. Town Manager Comments: Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Scott Wright, Asst. Town Manager - Finance Director Date: December 3, 2008 Re: Allocation of PEG Funds History Due to the 1984 Cable Franchise Policy and Communications Act, US cable companies are required to fund local organizations to provide training and access to media technology and cable distribution on the local cable systems. This legislation was intended to enrich communities with the opportunity to produce community - initiated programming and address local issues and concerns on the electronic medium. In its conception, public- access television pertained only to the cable television technology of the times, but many public- access organizations now include television, radio and the internet within the spectrum of communications. Public- access television is one type of PEG access, short for Public, Educational, and Governmental, the three traditional structures of access within a municipality. Through the Town's franchise agreement with Comcast, a $0.50 charge to be utilized solely for PEG access equipment and facilities is collected and remitted to the Town quarterly. For 2008, the Town has estimated in its budget that it will receive /$10,000 in PEG access charges. Public Access 5 Attached to this memo is a funding request from JX Perry, General Manager of Public Access 5, for an allocation of funding of the PEG fees collected by the Town for 2008 in the amount of $10,000. The funds requested are to be used to reimburse Public Access 5 for the cost of the installation of fiber optic cable from their location to Comcast in the amount of $8,100 and $2,900 to assist in the purchase of new cameras for filming Town Council and other meetings. Page 1 Financial Implications: A budget appropriation in the amount of $10,000 is included in the Community Relations program in the General Fund budget for PEG fee expenditures. Recommendation: Staff recommends approval of the above request by approving Resolution No. 08 -53. Town Mana er Comment . Attachments: A — Letter of Request from Public Access 5 B — Attached documentation C —Resolution No. 08 -53 • Page 2 J.K. Perry PO Box 5600 Avon, CO 81620 October 7, 2008 Avon Town Council PO Box 975 Avon, CO 81620 Dear Council Members: Thank you for your continued support of Public Access 5. In the past year we've made great strides in increasing local programs while decreasing outside programs. We will continue to work hard to improve Public Access 5 so that it accurately reflects the community we serve. It became apparent several months ago that the equipment and wire we used to send our signal to Comcast was dilapidated and outdated, which resulted in inferior video and audio compared to other local stations. We have since installed a fiber optic cable from our location to Comcast and invested in the equipment necessary to transmit the signal. If you've watched Public Access 5 recently, you've probably noticed the image and sound are much clearer. This improvement has made it easier for viewers to both watch and hear our station. It also puts us on par with the two local commercial stations and ecoTV. The total cost to install the wire and purchase the equipment came to $8,100. We ask that the Council please disperse the approximately $10,000 allocated for capital improvements in our franchise agreement. If approved, we plan to use the difference to partially pay for new and improved cameras to film Council and other meetings. Thank you for your consideration. Please call me with any questions, comments and concerns either now or in the future. Sincerely, J.K. Perry General Manager Public Access 5 (970) 949 -5657 vailchan5 @comcast.net www.publicaccess5.org 745 -08 !1 J.PPerry L For Channed 5 Did to run 6 ccamt 1111sam , lloilr�l bull dln Run Aerind Fibm and Leer to . 1W ROO and to" mound pipes a" pull fiber kvio Comeast Building Im a trtal *0' �+ Trench blind building, A, Run ftw underground; behAnd building A. in, cl rti 5 building, K TOTAL 7 checli nraw to _ _ gip. • l 1s fw Do work d"crlbed oody. Any vmr'lanc�. or aifd l w'11.' nwW to Do Oft to bs dmftrmin Gary Herman 7 41 n Corp, Nww CastIC 1orad* IM"? 4 Radiant Communications Corp. 5001 Hadley Road - South Plainfield, NJ 07080 - Phone: 9087577444 - Fax: - Email: mguise @rccfiber.com 23 YEARS of DEDICATED SERVICE 1985-2008 Quote To: Vail Channel 5 JK Perry Phone: 970- 949 -5657 Fax: Email: vailchan5 @comcast.net Q UO T-+ Date Quote # 06/18/08 MFFGQ1040 From: Mike Guise Phone: (908) 757 -7444 x Fax: (908) 757 -8666 Email: Terms Validity 60 Days Qty I Part Number Description Unit t Price Ex� t. Price 1 VAB705S -R -UA3 Fiber Optic singlemode one way baseband video /stereo audio receiver $1,200.00 $1,200.00 over 1 fiber 18db @ 1310 nm SC /APC in lU high rack 1 VAB705S -T -UA3 Fiber Optic singlemode one way baseband video /stereo audio $1,200.00 $1,200.00 transmitter over 1 fiber 18db @ 1310 nm SC /APC in 1U high rack 1 $0.00 $0.00 SubTotal $2,400.00 Total $2,400.00 Your Customer Service Rep is: Kim Barrios x204 SHIPPING PRE -PAID AND ADDED TO INVOICE Delivery ARO: FOB: South Plainfield, NJ 07080 Authorized Signature: Creating cost effective solutions with cutting edge technology since 1985 06/18/08 20:31:04 rk Page 1 601 J.K. Perry Public Access 5 PO Box 5600 Avon, CO 81620 Camera Estimate 10/20/08 Canon XHA1 HDV Camcorder — $3,299.95 Capital Improvement Grant — $1,900 Public Access 5 — $1,399.95 E RESOLUTION NO. 08 -53 SERIES OF 2008 A RESOLUTION TO APPROVE AN REQUEST FOR ALLOCATION OF PEG FUNDS APPROPRIATED IN THE TOWN OF AVON 2008 BUDGET WHEREAS, the Town Council of the Town of Avon has appropriated the expenditure of PEG funds in its 2008 budget in the amount of $10,000 to be used solely for PEG access equipment and facilities; and WHEREAS, the Town of Avon anticipates collecting PEG fees from cable subscribers during the 2008 budget year the estimated amount of $10,000; and WHEREAS, a request has been made to the Town from the local public access television station, Public Access 5, for an allocation of such funds for the appropriate purposes as set forth above. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1: That the attached request for allocation of $10,000 of PEG funds is hereby approved. ADOPTED this 91h day of December, 2008. TOWN OF AVON, COLORADO Ronald C. Wolfe, Mayor ATTEST: Patty McKenny Town Clerk Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Scott Wright, Asst. Town Manager - Finance Director Date: December 3, 2008 Re: Incentive Policy / Community Revitalization Anne Ricker from Leland Consulting Group will be present on Tuesday to review with the Town Council the final draft of the proposed Incentive Policy and Guidelines for Public Sector Participation that staff and Ms. Ricker have been working on for the past few months. Drafts of the policy have been commented on by the Planning and Zoning Commission and the Town Council and have also been reviewed by legal counsel. Staff believes that this policy provides guidelines that will help the development community in understanding when and what incentives may be appropriate, establishes an orderly public process for consideration and approval of incentives, and promotes the efficient use of incentives to maximize the public benefits to the Avon community. Financial Implications: There are no direct financial implications to the adoption of this policy. Recommendation: Staff recommends approval of Resolution No. 08 -58 adopting the attached Incentive Policy. Town Manager Commen - Attachments: A — Resolution No. 08 -58 B - Incentive Policy and Guidelines for Public Sector Participation C — Funding Request and Development Review Process Page 1 RESOLUTION NO. 08 -54 SERIES OF 2008 A RESOLUTION TO ADOPT AN ECONOMIC INCENTIVE POLICY WHEREAS, the Town of Avon desires to promote, encourage and stimulate private development and investment that realizes public benefits for the Avon community; and WHEREAS, the Town believes that certain types of development and investment lead to positive economic growth and stabilization while also advancing a public benefit; and WHEREAS, the Town acknowledges that different areas of Avon face varying degrees of challenges in attracting private sector capital for quality (re)development; and WHEREAS, the Town desires to provide greater assistance to meritorious projects in areas of Avon where development and investment activity has lagged behind community needs and goals. NOW, THEREFORE, BE IT HEREBY RESOLVED, that the Town Council of the Town of Avon, Colorado, adopts the attached Incentive Policy and Guidelines for Public Sector Participation. ADOPTED AND PASSED, this 91" day of December, 2008 TOWN OF AVON ATTEST: Patty McKenny Town Clerk Ronald C. Wolfe Mayor LELAND CONSULTING GROUP L' INCENTIVE POLICY & GUIDELINES FOR PUBLIC SECTOR PARTICIPATION Town of Avon, Colorado I. INTRODUCTION The Town of Avon ( "Town ") believes that certain types of investment in the Town lead to positive economic growth and stabilization while also advancing a public benefit. However, the Town also acknowledges that different areas of Avon face varying degrees of challenges in attracting private sector capital for quality (re) development. Therefore, the Town has designed this Incentive Policy ( "Policy ") to: provide greater assistance to meritorious projects in areas of Avon where market activity either has, or has the potential to, lag behind community needs and goals; and / or, raise standards of development in an effort to level the financial "playing field" and effectively ready the environment for catalyzing investment. (See discussion of Catalyst Investment Areas.) To this end, and in accordance with the provisions and conditions of this Policy, the Town will, on a case -by -case basis, consider the granting of incentives for new development and redevelopment that advances the community's vision in accordance with adopted Town Planning Documents ( "Town Planning Documents "). II. PURPOSE The Town of Avon desires to promote, encourage and stimulate private development and investment that realizes public benefits for the Avon community. Such public benefits include, but are not limited to: economic stabilization, enhancement and / or diversification, preservation of property values, provision of public amenities and / or facilities identified in adopted Town Planning Documents; and, promotion of self - sufficiency and sustainability on a community -wide basis. This Incentive Policy outlines specific resources that might be made available to meritorious projects, as well as defines the process that will be used to evaluate project requests. Specific Policy purpose statements include: 1. Provide guidelines for the development and investment community to understand when incentives may be appropriate; 2. Establish an orderly public process for consideration and approval of incentives; 3. Provide short -term assistance for eligible projects that have verifiable financing gaps; 4. Promote the efficient use of incentives to maximize the public benefits to the Avon community; 5. Make available assistance for the minimum possible length of time; ■ Real Estate Strategists, zuww.lelcaidcorasiiltircg.coni Page 1 of 24 3 LELAND CONSULTING GROUP 6. Discourage the use of incentives when not necessary to realize the L' proposed public benefits or not appropriate as a matter of public policy; and 7. Promote accountability to the general public in the use of public funds and resources. It is the objective of this Policy that the Towri s strategic investment of its incentive resources improve Avor s entire portfolio of community assets and facilitate the development and redevelopment of projects that provide a public benefit. Further, it is the Towri s intent to manage the implementation of the Incentive Policy so that incentives are fairly distributed across geographic and market sectors and appropriately applied based on the community vision. To that end, this Policy may be updated from time -to -time so as to remain consistent with adopted Town Planning Documents. Note: Incentives are subject to approval by the Town Council. This Incentive Policy is not intended, and shall not create, any entitlement or right of any applicant to approval of an incentive. III. DEFINITIONS Capitalized terms used in this Policy, but not defined elsewhere, shall have the following meanings: Applicant: An individual or entity proposing to advance a new development or redevelopment project for which they are requesting participation by the Town. Business Recruitment/ Retention: A program, frequently administered by an economic development entity, which assists with the recruitment or retention of business into or within a designated area. Program elements might include financial assistance, regulatory assistance, and / or marketing. Capital Improvement Plan (CIP): Dollars earmarked for improvement and extension of infrastructure in municipalities. Density Bonuses: Allowance for additional density in the form of increased units, building height, floor area ratios and / or maximum square footage in consideration of a public benefit. Note: This tool is sometimes used with the Transfer of Development Rights (TDR) tool which allows a property owner to transfer density rights from one parcel to another within a specific geographic area. ■ Real Estate Strategists, www.lelandconsulting.cwn Page 2 of 24 Or LELAND CONSULTING GROUP L Development Fee Waivers: A program intended to reduce development costs by waiving or deferring various fees and charges associated with a development project, i.e. tap fees, building permit fees, processing fees, etc. General Obligation Bonds: Bonds secured be the general taxing authority of the Town. In Colorado, the issuance of general obligation bonds require approval by the general electorate of the Town. Improvement District: Both an organizing and financing technique for area revitalization. Improvement districts provide a stable stream of income for activities and projects considered special to an area or in addition to general municipal services. Improvement districts are a vehicle for providing additional services for a fee and should not be considered a substitute for services funded through traditional tax revenues. Infrastructure Cost Participation: The sharing of infrastructure costs (either on- site or off -site) by developers and / or property owners with an entity (public, private, or semi- private) which will benefit from its availability. Land Assembly: Land assembled by public, private or non - profit entities in an effort to position it for development of larger projects. Assemblies can happen through purchases of properties, vacations and / or the rerouting of streets, alleys, etc. Land Donation/ Write -Down: The contribution of land to a project by a property owner either as a donation without an expected return, or at a reduced price. Land Swap: The offer of an exchange of town -owned land for land of similar value in an alternative location in order to develop specific infill sites in a specified manner. Loan Pool (Lending Pools): Several lending organizations contributing financing to a project or projects, thus sharing risk. An amount of capital pledged by several entities for lending to businesses based on some agreed upon goals or other criteria. Pledges can be in the form of loans, letters of commitment and stock purchases. Pools can be either organized formally or on a case -by -case basis. Parking District: Designated area wherein parking design, development and management issues among multiple facilities beyond that provided for by standard municipal levels of service are controlled by a select entity. Pedestrian Enhancements and Linkages: Various public, private and non - profit initiatives to improve the pedestrian environment in a designated area, i.e., ■ Real Estate Strategists, www.lelandconsulting.coal Page 3 of 24 S LELAND CONSULTING GROUP L' permanent and temporary streetscape elements, sidewalk widening, reduced speeds, etc. The resulting environment is designed to accommodate the needs of pedestrians, as well as through- and destination- traffic, by incorporating select infrastructure improvements, design elements, and traffic management mechanisms. Methods to achieving this include: separating traffic through the use of parallel streets; limiting access points; linking parking lots; coordinating traffic signals; adding alternative transportation lanes; widening sidewalks; providing crosswalks, street lights and furniture; preventing "deadening" uses without building fronts; and, incorporating transit stops. Predevelopment Funding Grants: Financing for project expenses incurred prior to construction, i.e., soft costs including consulting, design, engineering, planning, marketing, etc. Public Subordination: Town guarantee to a lending institution that, in the event of default, debt service will be paid. Redevelopment: The reconstruction or improvement of an area within an existing built - environment. Revenue Bonds: Bonds secured by, and by which may be issued and amortized from, the anticipated revenue which results from the improvement that was funded. Revenue Sharing: An incentive program by which certain anticipated future revenues from a development can be shared, rebated or refunded to the developer to assist in paying for infrastructure. Streamlined Development Approval: Initiatives by government entities to facilitate a timely approval process for (re) development projects meeting certain criteria. Also referred to as a "green -tape" permitting program. Critical elements of these types of programs include: 1) streamlined permitting and entitlement process; 2) greater predictability; and, 3) fairness in fees and exactions. Example components might include: 1) an appointed case manager; 2) a consolidated permitting process; 3) waived or reduced fees; 4) a single public hearing; and, 5) a streamlined environmental review process. Streetscape: Improvements to streets that enhance pedestrian activity. Streetscape enhancements may include: special paving; trees, planters, kiosks, fountains, plazas, benches, bicycle racks, vehicular and pedestrian lighting, and other public space amenities deemed desirable by the Town. Tax Exempt Bond Financing: Method of financing long -term debt issued by the government whereby bondholders need not include interest payments on taxable income. ■ Real Estate Strategists, www.lelandconsniting.com Page 4 of 24 G LELAND CONSULTING GROUP L Tax Increment Financing (TIF): A financing concept whereby increases in property and sales tax revenues that arise from new development over and above a designated revenue base are pledged to finance the debt services of a bond issue, or may be used to finance redevelopment activities. Town Planning Documents: All documents adopted through the public hearing process by the Town Council after review by the Planning Commission, including but not limited to the West Town Center Investment Plan, the Town Center West Area Urban Renewal Plan, the Avon East Town Center District Plan, and the Town of Avon Comprehensive Plan. Transfer of Development Rights (TDR): Ability to transfer property entitlements from one property to another when one of the parcels is located in a designated development area. Urban Renewal: Tool used for the purpose of eliminating slum or blighted areas within a municipality, and positioning properties for development or redevelopment. Actions under urban renewal can include tax increment financing, demolition of structures; construction of infrastructure and public spaces; sale of property; and, relocation of businesses and residents. IV. INCENTIVES The incentives offered under this Policy are not intended to replace other project financing from private or public sources. Rather, they are intended to be supplemental and flexible resources that spur worthy projects by bridging funding gaps which may be created by the difficult and sometimes costly nature of such purposeful developments. The primary incentive programs available include: Financial Incentives: • Urban Renewal (Tax Increment Financing) • Infrastructure Cost Participation • Operating and Maintenance Costs • Revenue Sharing • Fee Waivers • Tax Exempt Bond Financing • Local Grants • Low Interest Loans • Federal and State Grants ■ Real Estate Strategists, www.lelandconsniting.com Page 5 of 24 I Fl� LELAND CONSULTING GROUP Non - Financial Incentives: • Land Transactions • Pedestrian Enhancements and Linkages • Predevelopment Due Diligence • Special Districts • Parking Districts • Loan Pool Facilitation • Business Relocation / Retention Assistance • Development Approval Facilitation • Project Participation Detailed descriptions of those tools which will likely be most frequently requested and provided are presented below with the balance defined in the Appendix section of this Policy. Urban Renewal (TIF) Purpose of Incentive Tax Increment Financing (TIF) is a tool authorized under Colorado State statute by which local governments can publicly finance the rehabilitation or demolition of existing structures, construct or install new streets, utilities, open space and other improvements that serve a public purpose. Expenditures are made within a defined area called an urban renewal area. The tax increment is derived from the difference in appraised value between the year in which the area and TIF was formally established by Council (base year) and each year is in existence, for a period not to exceed 25 years. The increment is generated by real property taxes resulting from new construction and increases in market values due to public improvements and redevelopment efforts. Project Use The Town will consult with property owners within a designated area to ensure that TIF is awarded to meritorious projects. Note: If not otherwise in existence this would be accomplished through creation of an urban renewal area and plan where the project is located. The Town may provide a rebate to the developer of the property tax increment or pledge the increment as payment of principal and interest on bonds issued to fund the improvements. The Town may also elect to retain tax increment to meet operating or other demands within the TIF area. ■ Real Estate Strategists, www.lelandconsdting.com Page 6 of 24 H LELAND CONSULTING GROUP L: The percent of TIF revenue made available to projects will be negotiated on a case -by -case basis and considered relative to those factors described in this Policy's guiding principles. Limitations TIF can only be used on expenses that provide a public benefit. Eligible project costs include: capital costs, financing costs, real property assembly costs, professional service costs for public improvements, imputed administrative costs, relocation costs, organizational costs, interest before and during construction, and costs associated with operating the urban renewal area and project facilities. Infrastructure Cost Participation Purpose of Incentive The Town may elect to participate, either through a formal program or on a case -by -case basis, in the cost of construction and / or maintenance of infrastructure that will benefit multiple projects and properties. Project Use ■ The Town will work with the developer and / or property owner to identify all on -site and off -site capital improvements necessary to service and / or support the project. ■ Where dollars have already been earmarked (i.e., in the Town Capital Improvement Plan) or quantified; and public expenditures are eminent, the Town may elect to contribute these dollars to the project. ■ Where dollars have not been earmarked, but improvements are considered to benefit from the project and area, the Town may still elect to contribute dollars to the project. ■ The Town will consider the quality of materials and their consistency with prevailing policies, standards and regulations. In instances where the Town desires to raise standards of design and / or development, it may elect to participate in the cost of delivering these improvements. Limitations As identified through policies of the Town Council. ■ Real Estate Strategists, mm.lelandconsniting com Page 7 of 24 LELAND CONSULTING GROUP Operating & Maintenance Costs See discussion under Pedestrian and Roadway Enhancements and Linkages. Revenue Sharing Purpose of the Incentive Revenue sharing is a tool by which certain anticipated future revenues from a development may be shared, rebated or refunded to assist in paying for infrastructure costs, business start -up or relocation, or assisting a development towards stabilization as expeditiously as possible. Project Use The Town will consider applications for revenue sharing that meet the eligibility requirements set forth in this Policy and that are compliant with relevant restrictions stated in the Avon Home Rule Charter. In addition, the Town requires that the source of the revenue to be shared match with the use of the shared revenue. Limitations As identified through the Avon Home Rule Charter. Fee Waivers Purpose of Incentive The purpose of this incentive is to encourage investment by waiving or delaying development fees until the developer sees a positive cash flow. Project Use The Town may waive or delay project - related development fees on a case - by -case basis for meritorious projects. Limitations Developers will need to negotiate with the Town a specific threshold (to be determined) that they can demonstrate in order to be eligible for waivers or delays. ■ Real Estate Strategists, www.lelandconsdting.com Page 8 of 24 I LELAND CONSULTING GROUP L' Land Transactions Purpose of Incentive The purpose of this incentive is to assist developers with land acquisition and assemblage for meritorious projects in targeted investment areas. Project Use See Section 18.3 of the Avon Home Rule Charter for limitations on the use of this tool. Limitations As identified through policies of the Town Council. Pedestrian and Roadway Enhancements and Linkages Purpose of Incentive It is the Town's intent (and past practice) to encourage pedestrian connections, access to multiple modes of transportation and linkages among activity areas both within the Town's economic core and surrounding neighborhoods. To this end, the Town may participate in projects that advance this objective in the form of expending capital for infrastructure and maintenance of public improvements. In the context of the catalyst areas, public improvements are considered to encompass streetscape and roadway improvements that encourage pedestrian and transit access, as well as public space amenities. Project Use The Town may use CIP, bond and / or general funds for redevelopment within the catalyst areas to leverage grants and private funding sources. Grant programs are often administered by the Federal Highway Administration, the Federal Transit Administration, and the Colorado Department of Transportation. The Town's goal is to use funds to leverage private dollars, yielding investment for streetscape improvements in the near -term. Limitations The Town will identify and evaluate projects as grant and /or other funds become available. Projects will be selected according to the criteria established by the grant program and any additional criteria that further ■ Real Estate Strategists, www.lelandconsulting.com Page 9 of 24 V LELAND CONSULTING GROUP L the goals of this Policy and other adopted plans and policies. These criteria may include, but are not limited to, the following: Consistency of proposed improvements with the purpose of the grant program Equitable distribution of funds among the catalyst areas (over time) Ratio of private investment to public investment Limitations In order for the Town to expend funds, resources must be in support of a catalyst project that advances the vision for that area. Predevelopment Due Diligence Purpose of Incentive The purpose of this incentive is to provide property owners and developers with market, financial, design, engineering and other related information in an effort to both educate them about opportunities, as well as save them pre - development dollars. Project Use ■ The Town will establish an electronic "library' of studies and reports solicited by, and shared with, the Town in the context of development and investment projects in targeted areas. ■ As these studies and reports are made available, they will be submitted to the library for use by the private sector. ■ The Town may also elect to dedicate staff or retain the services of consultants and other professionals at no cost to the developer in an effort to save them pre - development dollars, while ground - truthing project feasibility. Limitations As identified through policies of the Town Council. Special Districts and Improvement Districts Purpose of Incentive ■ Real Estate Strategists, www.lelandcons lting.com Page 10 of 24 LELAND CONSULTING GROUP L■ Special districts are special- purpose units of local government created to provide a service or services to a specific group of constituents. Assessed taxes are exclusively property taxes. Improvement districts allow a municipality to levy and collect special assessments on property that is within the Town or the Town's extraterritorial jurisdiction (ETJ) to be used in the district. The assessment can be used to fund things including streetscape, infrastructure, security, parks, recreation, parking and other public improvements. Project Use See Section 18.01 Establishment of Special Districts of the Town Municipal Code. Limitations As improvement districts are enacted, primarily to raise money for the provision of certain services or improvements, eligible projects which require the revenue of a special district must serve a public purpose. Development Approval Facilitation (Streamlining) Purpose of Incentive The Towri s organizational structure is expressly designed to allow for interdepartmental coordination for development projects. Its mission is to focus on and provide assistance to priority projects that are eligible as defined under this Policy. Through staff project facilitation, the Town will attempt to resolve questions that arise through a main point of contact who will then work with other departments as necessary, in order to facilitate a streamlined process for projects in pre - development. Project Use Town staff representatives on the team will host a pre - development conference to address construction, platting, zoning and permitting issues. A project manager from the Town will be assigned to serve as the primary contact for addressing internal problems and issues related to the project. Key staff will continue to facilitate issues that arise and eventually serve as advocates for projects between departments and with Town M Real Estate Strategists, www.lelandconsdting.com Page ii of 24 �3 LELAND CONSULTING GROUP L Council, assisting with formal presentations and soliciting timing guarantees. Limitations This service applies to projects which meet the catalyst project criteria as outlined in this Policy. V. CATALYST INVESTMENT AREAS Town Council has identified geographic areas of Avon within which to target its incentives. The Town acknowledges that different geographic areas face varying degrees of challenges in attracting private sector capital for development consistent with the community's goals and objectives. While projects outside these areas might prove worthy, the Town has specifically targeted its incentives to provide greater assistance to catalyst projects in areas of Avon where market, support has either lagged behind community needs and goals, or where economic conditions are fragile or susceptible to market forces. This Incentive Policy defines catalyst investment areas as follows: "A catalyst investment area is an 'urbanized' place that has a concentration of jobs, housing units, commercial uses, public spaces, public transportation, and /or pedestrian activity and a sense of place. These areas are frequently located at significant activity nodes. Predominant land uses are commercial, non - commercial and public. Within these relatively compact geographic areas, different land uses are found side by side or within the same structures. The mix of uses are often located in developments with minimal setbacks, reduced parking requirements and taller structures, all in an effort to achieve higher densities necessary to support multiple nodes of transportation and pedestrian activity (where relevant), private investment and a sense of place. These areas are catalysts for public and private investment and economic activity, effectively building off the strengths of the surrounding area and connecting to surrounding uses. Implementation and management of catalyst areas is generally the responsibility of a combination of entities including business organizations, special districts, neighborhood and other interest groups, and individual property owners." What follows is a description of the vision for each of the Town identified catalyst investment areas as expressed in the supporting Town Planning Document. Projects outside these areas should address a significant public benefit, as well as show evidence of a market opportunity and/or development project with potential in the near -or long term. ■ Real Estate Strategists, www.lelandconsniting.com I I Page 12 of 24 10- LELAND CONSULTING GROUP L' West Town Center Investment Plan The West Town Center Investment Plan was adopted in August 2007. The stated vision for West Town Center in the plan is taken from the Town of Avon Comprehensive Plan. Specifically, "The West Town Center District will serve as the heart of the community. 'Social, cultural, intellectual, political, and recreational gatherings occur in this district. In addition, the district acts as the common ground between the full -time residents, part -time residents and destination guests through diverse retail and entertainment opportunities. The West Town Center District will be an intensely developed mixed -use, pedestrian- oriented area that serves as the primary focus for residential and lodging development within the overall Town Center. "' Town Center West Area Urban Renewal Plan The Town Center West Area Urban Renewal Plan was adopted in August 2007. The vision expressed in the plan states that " revitalization of the Town Center West Area is the creation of high quality commercial and mixed -use developments which integrate a range of non - residential uses with residential uses (vertically integrated) where appropriate, as well as property improvements, supported by strategic public investment in infrastructure (including utilities) and parking within and adjacent to the Area boundaries. Development within the Town Center West Area is positioned to serve as the catalyst for change in this commercial core of the Town. The combination of uses will further promote development and redevelopment of the entire Town Center District as an urban "neighborhood" with retail, business, lodging, residential, civic, cultural and public elements while physically connecting existing uses and improving circulation among multiple forms of transportation. " Avon East Town Center District Plan The Avon East Town Center District Plan was adopted in May 2008. The stated vision of the plan for the Avon East Town Center District is "to make the most of redevelopment opportunities by considering the needs and desires of the community, establishing a cohesive mix of uses, including retail, office and residential; planning for public gathering spaces; and creating strong pedestrian and street connections." Additionally, "the East Town Center District will be a jewel of the community, a complement to the West Town Center District, and a source of pride for the residents and business owners." Specific investments that will be encouraged include: residential units, pedestrian enhancements, branding elements, vibrant nodes of activity, parking, entertainment uses, roadway and public transportation improvements, diversity and economic sustainability in all of these components. ■ Real Estate Strategists, wwwlelandconsulting.com Page 13 of 24 1� LELAND CONSULTING GROUP L: Town of Avon Comprehensive Plan A general plan for the Town known as the Town of Avon Comprehensive Plan was adopted in February 2006. The plan specifically states, "In order for Avon to realize its vision and its associated community goals and objectives, the key challenge facing Avon is to enhance its Town Center Districts." Additionally, it says, "The Town Center Districts (East and West) are intended to be Avon s focal point for social, business and cultural activities. Specifically, the Town Center Districts are anticipated to provide mixed -use development of the highest intensity within the community supported by an exceptional pedestrian- oriented environment including comfortable spaces, exceptional views, and intimate gathering places." VI. REVIEW CRITERIA The Towns decision to invest in a project will be based on several important findings, not the least of which include: • number and type of public benefit elements (direct or indirect); • potential of the project to succeed; • demonstrable financial need; and, • evidence that the project accomplishes the goals of the community as specified in the Town of Avon Comprehensive Plan, Avon West Town Center District Investment Plan, Avon East Town Center District Master Plan, and all other Council- approved community plans related to the growth and development of the Town (see Catalyst Project Investment Areas). Project applications will be reviewed relative to the following Review Criteria: 1. The Application is complete. 2. The Applicant's ( "Applicant ") proposal advances the vision, goals and objectives of a Town Planning Document (i.e., transit- supportive development, employee housing, etc.) 3. The Applicant's proposal provides a public benefit that would not be provided without the incentive. 4. The Applicant's proposal promotes one or more purposes of the Incentive Policy. 5. The requested incentive is in proportion to the proposed public benefit. 6. The requested incentive and project will not increase Town expenses more than the projected increased revenues. 7. The requested incentive and project allows the Town and Applicant to leverage grant funding from other sources. (optional) ■ Real Estate Strategists, www.lelandconsniting.com Page 14 of 24 /6 LELAND CONSULTING GROUP L: 8. The proposal includes a practical method of demonstrating the effectiveness and success of the incentive. In order to be considered for Town incentives, a project falling within a catalyst investment area must advance and exceed stated community goals and the application must positively address the above criteria. A project that has the potential to advance stated community goals, yet located outside a preference area, may also be considered for Town incentives, but will be expected to undergo a greater level of scrutiny to ensure that it is consistent with the objectives presented herein. VII. APPLICATION PROCESS AND DECISION In order to have a project request considered for participation by the Town of Avon, Applicants must complete the attached forms and submit the completed forms to the designated Town representative. Once the (above) criteria are considered to be satisfactorily addressed, Town staff will work with the Applicant to further analyze specific details about the project's financial need and other factors as warranted. The financial need of the project will be determined based upon the nature and extent of the "gap' between the total project costs and amount of private investment to cover those costs, assuming a market - average rate of return on the private investment. Based upon this information, Town staff will then determine the extent of the Towri s potential participation (including specific incentives) in the project. The level of Town participation will be dependent, in part, on the fiscal impact of the project to the Town and expected private investment leverage resulting from its participation. Another factor will include the extent of public benefit the project provides. The map presented in the Appendix section of this Policy illustrates the Towri s target areas for catalyst private investment. Final documentation for meritorious projects will be packaged along with Town staff recommendations for final review and consideration by Town Council. Together, the Town representative and Applicant will then present the project concept and request to Town Council for consideration. In select instances, Town Council may decide to refer the project and application to Planning and Zoning Commission for a recommendation. Note: Private financial information provided in conjunction with the project submittal will be reviewed in confidence by the Town Manager, Town Finance Director, and one representative from Town Council. All matters related to this confidential private financial information will be considered in executive session if deemed necessary and appropriate. ■ Real Estate Strategists, www.lelandconsniting.com Page 15 of 24 LELAND CONSULTING GROUP VIII. BENCHMARKING THE MARKET The ability of the Policy to successfully marry market opportunity with market investment will hinge upon continual feedback to the Town by representatives of the real estate and business investment markets and incentive recipients. Therefore, the Town has an expectation of investment partners to provide information on the performance of projects during start -up and through stabilization'. The receipt of project information beyond the period during which the Town participates will be appreciated, but not required. Access by the Town to this information will assist in staying current on market conditions and expectations among different geographic and market sectors, as well as provide the basis for refinements to the Policy and the Town's decision - making parameters for participation in future projects. ' The total value of the incentives will only be available at a level not to exceed the incremental dollars generated by the planned investment as determined by the Town through regular review of the project's performance (open books). Select information will be kept confidential from the general public. ■ Real Estate Strategists, umnv.lelandcoasWting.cow Page 36 o124 i LELAND CONSULTING GROUP L' Appendix Tax Exempt Bond Financing Purpose of Incentive The purpose of this incentive is to provide long -term financing for select economic development projects. Bonds are issued by the Town and exempt from state and local taxes. Project Use Bond revenue can be used for specific purposes, as determined by the bond documentation, including right -of -way improvements (public and private), parking, streetscape, infrastructure, as well as land acquisition. The Town may provide support to projects that meet the Town's bond documentation criteria for funding. The funds will be available in the form of 1) loans, 2) loan guarantees, 3) equity investments, and / or subordinated debt for construction, or, 4) permanent financing. Bond revenue may also be available to projects located in an urban renewal area. Criteria for funding within an urban renewal area are defined in the urban renewal plan for that area. Limitations Limitations will be largely dictated by the rules and regulations associated with the bond issuance and the terms and conditions that the Town may ask developers to pledge when issuing the bonds. Private Activity Bonds Private activity bonds are designed to provide taxable and tax - exempt bond financing primarily for local improvement projects. Private Activity Bonds (PAB) are bonds that can be issued for specific purposes, as determined by federal tax law. PABs are not a direct source of funding, but rather a tax- financing mechanism. Local Grants Purpose of Incentive The purpose of local grants is to reimburse private developers for the range of expenses which may contribute to a financing gap yielding projects financially infeasible. To this end, the Town will also be sensitive to the ■ Real Estate Strategists, wwwAlandconsulting.com Page 17 of 24 19 LELAND CONSULTING GROUP L' taxable implications these grants may have for the developer and where possible, use transfer mechanisms (i.e., soft loans, accrual notes, etc.) which result in a favorable financial impact. Limitations This incentive is often used as a gap - financing tool of last resort. The use of this incentive is for projects facing extraordinary impediments to development and offering significant positive impact to the community and the surrounding area where the project is located. Limitations on how this incentive is used are predicated on the source of the funds and terms and conditions of the award to the Town and the project. Low Interest Loans Purpose of Incentive The purpose of this incentive is to provide funds to developers at a lower rate of interest compared to conventional loans. This incentive effectively reduces the financial gap of a project, thereby enhancing its financial feasibility. Project Use The Town may facilitate the provision of this type of support to development projects that meet the Town's criteria for funding. Loans can be used to support commercial, residential or mixed -use development projects, for both rehabilitation and new construction related expenses. Types of loans available include predevelopment, interim financing and bridge. The program can be expanded to include a set -aside for facade improvements in targeted areas. Limitations Limitations will be largely dictated by the rules and regulations associated with the funding source and the terms and conditions of the specific award. Federal and State Grants Purpose of Incentive The fundamental premise of the Towns Incentive Policy is to catalyze investment and reinvestment in targeted areas. Whereas experience has ■ Real Estate Strategists, unmlelandconsulting.com Page 18 of 24 MW LELAND CONSULTING GROUP L' proven that "catalyst projects" serve to prove to private sector investment markets that demand for community- beneficial developments exists; they set a positive precedent for future development. Given the importance of supporting catalyst projects in priority areas, the Town may, at its sole discretion, elect to compete for federal or state grants to support deserving real estate development projects. Project Use If awarded, the Town may provide this type of support to projects in an effort to close a demonstrable funding "gap." Use of the funds will be contingent on the project's ability to advance key community goals including sustainable development principals, as well as the guiding principals of this Policy. Grant funding is generally used for infrastructure improvements, environmental remediation, pedestrian and streetscape enhancements in the public right -of -way, and other costs as appropriate to the funding source. However, they may also be used for a range of economic development initiatives including business retention, relocation and expansion initiatives. Limitations Limitations on how this incentive may be used are often predicated on the source of the funds and terms and conditions of the award to the Town and the project. Town Council will determine which projects they will submit for competition. Submittal is not a guarantee of Town funding and Town participation will be contingent upon award of grants. Parking Districts Purpose of Incentive A parking district is a designated area wherein parking design, development and management issues, beyond those provided for by standard municipal levels of service, are controlled by a select entity. The purpose of this incentive is to allow property and business owners to share in the cost of infrastructure and services in an effort to stabilize and distinguish a business and/or neighborhood district, and thereby potentially improve its market position. Project Use ■ Real Estate Strategists, zozozo.lelandconsultiiig.cozii Page 19 of 24 Myi LELAND CONSULTING GROUP L ■ In order for a parking district to be established, 51 % of the property owners must submit a petition request. ■ Upon creation of the district, property owners will be assessed an additional fee to fund improvement projects within its area. ■ The district can then pledge the assessment revenue as payment of principal and interest on bonds issued to fund public improvements which benefit projects within it. Limitations As improvement districts are enacted primarily to raise money for the provision of certain services or improvements, eligible projects which require the revenue of a special district must serve a public purpose. Loan Pools Purpose of Incentive The purpose of this incentive is to spread risk across multiple funding entities. Pools can be assembled with private, public and semi -public dollars. An obvious resource can be Community Reinvestment Act (CRA) dollars, managed by private lending entities that are required to be invested directly in the community. Commitments can take the form of loans, letters of commitment and stock purchases. Loan pools may also include program partnerships. Project Use The Town will facilitate discussions with various local and regional lending entities (public, public, and semi- private) to identify set - asides for a loan pool to be used by credible borrowers for the development of projects in targeted areas. ■ The Town may consider subordinating the loan pool fund, if necessary. Limitations Limitations will be largely dictated by the rules and regulations associated with the funding sources and terms and conditions of the specific award. Project Participation Purpose of Incentive ■ Real Estate Strategists, www.lelandcorisniting.com Page 20 of 24 LELAND CONSULTING GROUP L: The purpose of this incentive is to offer public sector support to projects in an indirect way, as an alternative to direct financial participation. Project Use ■ The Town will consider taking space (relocating a department) in a newly developed or redeveloped commercial project. ■ If their CIP plan includes the expansion of public facilities or spaces, the Town may consider doing this in cooperation with the developer. (See Pedestrian Enhancements and Linkages.) ■ The Town may provide the services of one of their departments or affiliates (Chamber, Tourism, Economic Development) to either the developer or tenants in the development to advance the success of the project or their individual business. Limitations As identified through policies of the Town Council. Business Relocation/ Retention Assistance Purpose of Incentive The purpose of this incentive is to assist existing businesses with their expansion, retention and relocation needs. Costs associated with relocation are an acceptable expense within an urban renewal area. However, projects not located within an urban renewal area may be required to buy -out leases (at a minimum) and possibly cover relocation expenses in an effort to advance (re) development projects in infill areas. In addition to providing dollars for actual expenses, the Town may partner with various economic development entities to assist with marketing and disruptions in operations. Project Use ■ The Town may identify and/or retain someone to serve as a point - person for relocation inquiries. ■ Within existing urban renewal areas, the Town will make sure that a relocation plan with specific provisions is in place. ■ Real Estate Strategists, www.lelaitdconsilting.com Page 21 of 24 "3 LELAND CONSULTING GROUP C ■ The Town may preemptively solicit the participation of a range of economic development partners to assist the Town in their redevelopment goals and objectives. Limitations As identified through policies of the Town Council and any other participating entities. ■ Real Estate Strategists, zvzvzv .lelaiadcortsieltiizg.coai7 Page 22 of 24 2k LELAND CONSULTING GROUP L' Appendix 1 Map ■ Real Estate Strategists, mumlelandconsulting.com Page 23 of 24 11� -1Z 0 co c 0 d 2 0 Lu ID a) ca 0) (D �' E L- -1-1 L- cn -I.- a) > C: 0 2:cn -, M m N a) > cu m (D L- C: < 0 (D 4- c O (D w ca -0 L- D LELAND CONSULTING GROUP LAppendix 2 Forms ■ Real Estate Strategists, www.lelarndconsiiltiug.conr Page 24 of 24 17� Town of Anon, Colorado Date: Reviewer: Request Agent: (For confidential official use of the Town of Avon, Colorado and /or its agents) 1. a. Name of Offerer: b. Address: 2. The Land which the Offerer proposed to redevelop is described as follows: 3. The financial condition of the Offerer, as of (date), is as reflected in the attached financial statement. NOTE: Attach to this statement a certified financial statement showing the assets and liabilities, including contingent liabilities, fully itemized in accordance with accepted accounting standards and based on a proper audit. If the date of the certified financial statement precedes the date of this submission by more than six (6) months, also attach an interim balance sheet not more than sixty (60) days old. a. Name and address of auditor or public accountant who performed the audit on which said financial statement is based. 4. If funds for the development are to be obtained from sources other than the Offerer's own funds, provide a statement of the Offerer's plan for financing the acquisition and development, indicating a proposed source and amount of equity investment, proposed source of debt financing, and evidence of ability to obtain financing. 5. Sources and amount of cash available to Offerer to meet equity requirement of the proposed undertaking: a. In Banks: Name and Address of Bank Amount b. By loans from affiliated or associated corporations or firms: Name and Address of Bank Amount `I'oct)lr (ff Az >oza, Calorado Confidential Statement of Financial Capability (cont'): c. By sale of readily saleable assets: Description Market Value Mortgage or Liens 6. Name and address of bank and financial institution references: 7. Has the Offerer or the parent corporation, or any subsidiary or affiliated corporation, if any, of the Offerer or said parent corporation, or any of the Offerer's officers or principal members, shareholders or investors, or other interested parties (as listed in the response to Item 3 of the "Statement of Qualifications') been adjudged bankrupt, either voluntary or involuntary, within the past 10 years? Yes No 8. Has the developer or anyone referred to in Number 7 above been indicated for or convicted of any felony within the past 10 years? Yes No If Yes, give for each case (a) date; (b) charge; (c) place; (d) court; and, (e) action taken. Attach any explanation deemed necessary. Confidential v1 Tocoar of An)ir, Colorado Confidential Statement of Financial Capability (cont'): Certification I (We) *, , certify that this Confidential "Statement of Financial Capability" and the attached evidence of the financial responsibility, including financial statements, are true and correct to the best of my (our) knowledge and belief and request that the information be treated confidentially. Date: Firm Name Firm Title Firm Address Title Firm Address * If the Offerer is a corporation, this Statement should be signed by the President and Secretary of the corporation; if an individual, by such individual; if a partnership, by one of the partners; if an entity not having a President and Secretary, by one of its chief officers having knowledge of the financial status and qualifications. 111� Town of Avon, Colorado Form: Funding Request 1evelopment Concept Proposal Date: Name: Company: Project Name: Ph #: Reference: Applicant shall submit a conceptual design proposal consisting of the following elements: 1. Narrative Description of Development Concept: Provide a narrative description of the development objectives: size, nature and location of the proposed land uses, urban design and architecture. Include specific statements indicating how the Development Concept advances the goals of the Town and any relevant Policy or Vision Documents, specifically its ability to provide a public benefit. 2. Conceptual Design: Applicant shall submit a Conceptual Design and state (illustrate) any aspect of the design that does not conform to applicable Town of Avon, Colorado codes and standards. The Conceptual Design shall consist of drawings (elevations and perspectives optional). Additional descriptions of color, material and size of structures, and landscaping will be appreciated. 3. Project Fact Sheet: The Applicant shall provide a project fact sheet indicating the following data and information (as applicable): a. Gross Building Area: b. Housing (Number of Units and Type): c. Restaurant Space (SF): d. Office Space (SF): e. Retail Space (SF): f. Parking Requirements: g. Building Height: h. Floor Area Ratio: Confidential 31 Town of Avon, Colorado Funding Request o (cont'd' Development Co t Proposal Date: Name: Company: Project Name: Ph #: Reference: The Applicant shall provide information in the form of a Preliminary Summary Pro Forma to indicate the economic basis for the request. The purpose of this information is to demonstrate the economic feasibility of the proposed development and shall be in such detail necessary to illustrate such feasibility including all major assumptions concerning costs, income and any economic "gap." Project Cost: Land and Parking Cost: Land, xx square feet @ xx: $ Parking Costs, xx spaces @$xx: _ Total Land and Parking Costs: $ Building Costs (including soft costs and contingency): $ Operating Start -Up Costs: $ Financing and Carrying Costs: $ Total Project Cost: $ Project Operating Results, Stabilized Year (rental project): Number of Rentable Square Feet @ xx % Efficiency: Scheduled Gross Rent @ $xx $ Less Vacancy and Credit Loss, xx %: Effective Gross Income: $ Confidential 32,- Town of Avon, Colorado Funding Request Form (contd): Development Concept Proposal Date: Name: Company: Project Name: Ph #: Reference: Less Operating Costs, xx% Real Estate Tax @ xx% Facility Cost: Net Operating Income: Operating Income as a Percentage of Project Cost: xx% Difference in Value and Cost: Notes: 1. Building pad sites are available for sale or long -term lease. The asking sale price is $xx per square foot; the asking long -term lease rate is $xx per square foot per year. 2. Parking costs reflect private sector contribution to parking construction. 3. The number of required parking spaces will vary depending upon the mix of land uses proposed. 4. Operating costs should include a fee to be charged for maintenance of common areas. This Common Area Maintenance (CAM) fee is estimated to range between $xx and $xx per square foot of gross building area. 5. As shown on the enclosed site map, portions of the common areas, e.g. patio area, will be made available for lease by building owners and /or tenants. Confidential Funding Request Form (contd): Development Concept Proposal Date: Name: Company: Project Name: Ph #: Reference: Applicant shall provide an estimated timeframe for the following items (where available): 1. Initial purchasing and due diligence period: 2. Additional period for pre - leasing and due diligence, upon request from and showing of need and progress by the Applicant: 3. Completion and submission to Town of final construction plans for development: 4. Completion and submission of construction financing commitment for development: 5. Satisfaction of the conditions contained within construction loan commitment: 6. Commencement of development of project: 7. Completion of construction of project: Confidential 2 q Torttta of Amit, Colorado Date: Name: Company: Ph #: Reference For: 1. When did you work with the [ "Request Agent "]? 2. Can you describe the project they developed / participated in? 3. Was their concept similar to their other projects or was it customized to reflect your vision? 4. Who was the project manager? 5. Did you issue a request for proposals or did you sole- source to this firm or individual? 6. Had you heard of them before (if they responded to a request)? 35 °I our ll of Awil, Colorado Reference Check Questionnaire (cont'd): 7. In your consideration process, why did you end up selecting [ "Applicant / Team "]; what was it about them that caused you to conclude that they were the "right fit" for you and your community? 8. If a public sector reference, did the financing for your project involve public dollars (incentives)? How creative and /or flexible were they with these resources? 9. If a public sector reference, how well did they understand your need for a quantifiable return on your investment? 10. Knowing what you know now, would you select them again? 11. What firms comprised the team that worked with [ "Applicant "], (if any)? Had they worked together before? (Were they the same group that submitted this request ?) 12. We would like to understand how well you felt that ["Applicant/ Team"] performed for you. Please tell us how you would rate them in each of the following dimensions on a 1 -10 scale (with 1 representing Poor, 5 representing Average and 10 representing Outstanding) 31-9 Tcroaa of Az)orr, Colorado Reference Check Questionnaire (cont'd): 13. In retrospect, what would you do differently to have had a more productive / profitable experience with [ "Applicant "]? (How can we learn from your experience ?) 14. Any other comments you wish to make. 31 Town ofAvoit, Cblorndo Reference i it (cont'd): Personal Interview Form Dimension 1 2 3 4 5 6 7 8 9 10 Quality of leadership (helping you anticipate and address issues; design and implementation of an appropriate project approach) Quality of presentations and communication with a range of audiences Availability -- responsiveness Timeliness in meeting deadlines and/or project milestones Creativity demonstrated in financing How satisfied were you with the overall project and the solutions they provided you? How satisfied were you with their adherence to the project budget? Toz1711 of Avon, Colorado Date: Reviewer: Request Agent: Rating = Poor, Fair, Good, Excellent Evaluation Criteria Rating Comments Disciplines of Firm / Team (comprehensive, experience working together, unique/ beneficial relationships) Project Management Office (location — local or out -of- state, staffing capacity, reputation) History, Size, Depth of Firm (length of time in business, orientation of clients or projects — change over time, perceived as having a niche, infill vs. suburban experience) Implied Understanding of Vision (articulated vision and partnership roles) Experience / Public - Private Partnerships (number, infill vs. suburban, project types, complexity of financing) 31 Town of Avon, Colorado Request Agent (consistency with vision and goals expressed in Town Plans and documents, complimentary integration) ME= ?�otential Community Benefit Impacts (similarity with advancing community goals, infill vs. suburban, public sector role (if any), design quality) (expectations, description, % of effort) (see form) 7p M (appearance, communication with Town, expressed desire) �(D >* (D ) § . §2 � 2c -. 0 « �o !:-k ■2 ■ ■■ U)E m 0 CL § 0 _ ■2� ■ .CL$. _ .U) c.._■o 'A C 'A> 2 CL0 ■ ■�� ■© o c> CL ■o- �.- o $ 2 2 0.� CL © � \ 2 0 2 m o ±c= ■ � u�� 2 ■ ©2 0 4) c 'k d §CL c k0 \��k §�02 vu_ ■ = §c■ >, / J V } � 2 � � ` c ° \ C M �. ■ § \ a N 2�§ »2' cL E§ § \0 / 20/§ > 0 7 §� ƒ \m ■ 2&�±\§ c § \ § � k k ■ ■ - 0 2k2k ul cc� © ° ° ° \ k ° 2 �k ems■ §_� 02c © g g� E-E E \§ u 2 C ` § � 9§ 3 ° \ c \ ©■ § ■ 0 «22�2 2 _4) — \ ®2, 2� ■ 2 § 2 § \ & § 0) o © v§ —§ F\2 0 22 _ 0 ■\2�0 J __ ■ ■ ■ ., ©c o ©�2 . c c ;�c . ,� � 2 �2 ■ 0 § \CL - } ■ k C � � \2 ° \§ / \ � r2 c ■ § 0k\2 0o\^ ■/■ ac c� \ o c \ - ° 3 ■ CL _M 4) © $N \§40 = \% CL c ■ \ ; (D Ord@ \ ■ 2 § ® § ko E % 4 = § C2g2 c 0 ^�� \�2 V �oA § � d 30WC §2 § § 2 2 CL �0 ■ -M o 0 , k © C ° _ N - � �. _ 0c0 J CL CL $ / ■m « >Fc £ ■o. (D § AW �E § 0 U Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Matt Pielsticker, Plannerl:ip� Date: December 9, 2008 Council Meeting Re: Joint Work Session with Planning and Zoning Commission Tract B, Wildridge Summary: The Community Development Department received a `Pre- Application/Conceptual Review' application for a vacant piece of property in Wildridge — Tract B, Block 1. Prior to submitting a formal application for a design review or zoning application, applicants have the option to submit a Pre - Application /Conceptual Review application for non - binding feedback. A Pre - Application /Conceptual Review application can take one of three courses: 1) Staff Review & Development Review Committee (DRC); or 2) Community Development Committee (CDC); or 3) Planning and Zoning Commission and Town Council. The applicant/owner of the property, Philip Matsen of Gandorf Tract B, LLC, has elected to use the joint work session format with the Planning and Zoning Commission and Town Council. Attached to this Memorandum is the proposal from the applicant, which includes several proposed development options for the property. There is a vicinity map and a short narrative included, as well as conceptual site plan layouts showing different points of access. The subject property measures .38 acres and is located immediately north of the Wildridge Fire Station. The property is bordered by three streets: Wildridge Road, Old Trail Road, and Saddle Ridge Loop; hence, there are three 25' building setbacks that restrict site planning options. According to the Wildridge PUD, the property is currently zoned "Light Commercial" with 4 Apartments assigned. This particular zoning is unique for the Wildridge Subdivision and is the only commercially zoned piece of property in the subdivision. The PUD further defines `Light Commercial' as "retail sales and commercial service uses limited to food, groceries, household and automotive items limited to the sale of gasoline, oil, and related products, but not automotive repairs, provided for the convenience of Wildridge residents, their guests, and visitors; caretaker apartment units and municipal services are included in Light Commercial." Town Manager Proposal with Narrative, Vicinity Map, and 6 Design Alternatives r Gandorf Tract B Tract B, Block 1, Wildridge Subdivision AKA 2101 Saddle Ridge Loop / fire station lot. Proposed plans Plan A (The Original Plan) Light commercial units 2@ 900sf 2@ 600sf Caretaker apartment units 4@ 800sf Zoning approved. Plan B Rezone into two affordable housing duplex lots with a max of 2,200.00sf per unit (living space) New zoning Plan C Rezone into 6 affordable housing units 900.00sf each max. New zoning Plan D Sell %2 of the lot to Town Of Avon for 1/2 the appraised value for a park and ride, overflow park & fire station parking. The other half, build a post office and small cafe to make over 21 parking spots for the town of Avon. New zoning Plan E Sell the lot to the Town Of Avon for $489.000.00 and make it into a park and ride, park & fire station overflow parking. Plan E Trade lot for old unused Avon shop and lot on wildwood road. Tract n parcel # 194335404006 Rezone into 3 triplex lot for affordable housing units 1,800sf max per unit EDGE A91MOkT RM d " PLAN A. x GANDORF'S ORIGINAL PLAN 1": 20' LOWER LEVEL- PARKING S 3o MAIN LEVEL: (2) 600 SF + (2) 900 SF LIGHT COMMERCIAL UPPER LEVEL- (4) 800 SF CARETAKER'S APT. O �r cu A� 0 c 142 EAGLE MA4 PO 130X 46n AVOK 0081628 F. 9MAI49A48 MAC o Q rrrr z 0 wAftmw aw"whift dapdrdmi ■dbndbbn M*E ASWWT MA Ol PLAN B: 2 DUPLEXES I': 2C MFUEeS WrM ZWO SF PM KALF MWL" s In! F. 97049MG :z It3. 0. tiV c: F. 97049MG :z It3. a �_ ROD A5PKM-T ROAD LOWER LEVEL: PARKING MAIN U=PPER .900 UNIT R L... • 900 UNIT LOWER LEVEL 900 SF UNT MAIN LEVEL: 900 SF UNIT UPPER LEVEL: 900 SF UMT euttMNO . F.9" S0 y 4. °' N i rr _ .. EM. AW,WALT'F" . jl PLAN C: N (6) AFFODABLE HOUSING UNITS :w ; $ 1": 20' (6) 900 SF AFFORDABLE HOUSMG UNITS s. ff ily 3q D10E ASPK%LT RDA 3 a If PLAN D: PARK AND RIDE/ BUS STOP w $ 1": 20' BUS STOP, POST OFFICE, CAFE, (2) 900 SF APARTMENTS s Q SD' 2fY 3D' 0 0 cu c U) 142 EAGLE DR. A4 PO BOX 4873 AVON, 0081620 P. 97016D:M F. MAW MS T Z c W0 J�> �aa ac � maw to z o 4a C , } EDGE ASPHALT JtDA r �e 0 vvvv vs 8 ; COMMUNITY CENTER PLAN E: N COMMUNITY CENTER w $ 1": 20' RELOCATE BASKETBALL COURTS TO PROVIDE VIEWS OUT OF THE COMMUNITY CENTER s OP o� cu w_ c 142 EAGLE. DR, A0 OX 4 PO.O6n AVON,,0081620 P. 970290.5=, F. 94.948.094&