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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