URA Agenda & Minutes 02-09-2010TOWN OF AVON, COLORADO
AVON URBAN RENEWAL AUTHORITY MEETING FOR TUESDAY, FEBRUARY 9, 2010 VON
MEETING BEGINS AT 5:15 PM
AVON TOWN HALL, ONE LAKE STREET
PRESIDING OFFICIALS
CHAIRMAN RON WOLFE
VICE CHAIRMAN BRIAN SIPES
COMMISSIONERS RICHARD CARROLL, DAVE DANTAS, KRISTI FERRARO,
AMY PHILLIPS, ALBERT "Buz" REYNOLDS, JR.
STAFF
EXECUTIVE DIRECTOR / SECRETARY: LARRY BROOKS
TREASURER: SCOTT WRIGHT
AUTHORITY CLERK: PATTY MCKENNY
ALL URBAN RENEWAL MEETINGS ARE OPEN TO THE PUBLIC EXCEPT EXECUTIVE SESSIONS
COMMENTS FROM THE PUBLIC ARE WELCOME DURING PUBLIC HEARINGS
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
1. ROLL CALL
2. INQUIRY OF THE PUBLIC FOR COMMENT AND APPROVAL OF AGENDA
3. RESOLUTION
a. Resolution No. 10 -02, Series of 2010, Resolution of the Board of Commissioners of the Avon
Urban Renewal Authority Authorizing and Approving a First Amendment to a Loan Agreement
(Scott Wright, Treasurer) Review amendment to the loan agreement that corrects payment schedule
based on receipt of revenue
4. CONSENT AGENDA
a. Minutes from January 26, 2010
5. ADJOURN AT 5:30 PM
Avon Council Meeting. 10.02.09
Page 3 of 5
MINUTES OF THE AVON URBAN RENEWAL AUTHORITY
HELD FEBRUARY 9, 2010
The Avon Urban Renewal Authority meeting was held at the Avon Town Hall, One Lake Street,
Avon, Colorado in the Council Chambers.
Chairman Ron Wolfe called the meeting to order at 5:20 PM. A roll call was taken and
Commissioners present were Rich Carroll, Dave Dantas, Kristi Ferraro, Amy Phillips, Buz
Reynolds, and Brian Sipes. Also present were Executive Director /Secretary Larry Brooks, Town
Attorney Eric Heil, Authority Clerk Patty McKenny, Town Engineer Justin Hildreth, Treasurer
Scott Wright, Assistant Town Manager Community Development Sally Vecchio, as well as
members of the press and public.
RESOLUTION
Scott Wright, Treasurer, presented a review of an amendment to the loan agreement that
corrects the payment schedule based on receipt of revenue as included in Resolution No. 10-
02, Series of 2010, Resolution of the Board of Commissioners of the Avon Urban Renewal
Authority Authorizing and Approving a First Amendment to a Loan Agreement. He noted that
the first amendment would update the Vectra Bank Loan Agreement that was adopted in May of
2009 and it corrects an unintended result of the cash flow of funds because of the use of the
original definition of a Bond Year vs. a Calendar Year. It was noted that the URA memo include
in the packet describes the detail of this situation. Board member Ferraro moved to approve
Resolution No. 10 -02, Series of 2010, Resolution of the Board of Commissioners of the Avon
Urban Renewal Authority Authorizing and Approving a First Amendment to a Loan Agreement;
Board member Sipes seconded the motion and it passed unanimously.
CONSENT AGENDA
Chairman Wolfe asked for a motion on the consent agenda. Commissioner Dantas moved to
approve the consent agenda; Commissioner Carroll seconded the motion and it passed
unanimously.
a. Minutes from January 26, 2010
There being no further business to come before the Authority, the meeting adjourned at
5:25 PM.
P TFULLY SUBMITTED:
�c L
P tty M Kenny, Auth rity Clerk
APPROVED: -
Rich' Carroll
Dave Dantas cam -
Kristi Ferraro
Amy Phillips
Brian Sipes
Albert "Buz" Reynolds
Ron Wolfe
c-