Good evening, members, citizens, and staff. I call the December 2nd, 2025 Castle Pines Urban Renewal Authority meeting to order at 5 p.m. Clerk W, please call the roll. Chairperson Ingerman? Here. Vice Chair Anderson? Here. Commissioner Bloom? Present. Commissioner Cole? Here. Commissioner Eubanks? Here. Commissioner Hudson is absent. Excuse. Commissioner Long? Commissioner Mulvey. Commissioner Salazar. Commissioner Teal. And the Douglas County School District Commissioner. Commissioner Ingerman, you have a quorum. Thank you very much. All right, we'll move on to the approval of the agenda. If there are no objections, the agenda will be approved. Hearing none, the agenda is approved as presented. Next, we're moving on to our public comment, which is designed for you to share your thoughts and concerns with the Castle Pines Urban Renewal Authority, but it's not an interactive discussion. If you're attending tonight's meeting virtually, I would like to give public comment. We don't actually have virtual comment for you, all right? We do, just can't have virtual, that's it. Gotcha, all right. If you're attending virtually and would like to give public comment, please sign up for your general public comment by typing your name and address into the chat feature. If you're attending in person, please sign up on the clipboard in the back of the room. If you've called into the meeting, the clerk will recognize you by the last four digits of your phone number. If you'd like to give comment on either of the public hearings tonight, please wait until that portion of the public hearing. Clerk Duffy, if we haven't anyone signed up, I can give additional instructions otherwise. We do not have anyone signed up. All right, we'll move on to the presentation of the minutes. Are there any corrections to the minutes from the September 3rd, 2024 Urban Renewal Authority meeting? Hearing none, the minutes are approved as presented. Next is our first item of general business, which is the public hearing for Resolution 25-01, a resolution adopting a budget for the 2025 calendar year and approving appropriations related thereto. I'll open the public hearing at 5.02 p.m. Our staff presentation will be given by Finance Director Mike Farina. I'll turn it over to you. Good evening, Chair and Commissioners. Presenting to you tonight, the 2025 budget, even though the year's almost over. And we didn't approve a budget by state law. We're required to approve a budget for any jurisdiction within the state of Colorado. So I'm presenting this to you tonight. If we would have presented it back in 2024, it would have been a zero budget. And that's what I mentioned to the state as I was talking to them. And they said, well, even a zero budget still has to have the approval because of the state statute. So we're here tonight. you'll see in the 2025 budget, there is a $300 expenditure. That is the treasurer, the difference county treasurer's fee to collect the taxes or the increment in this case and remit them to the city. And there's a, I think it's a one and a half percent fee or a half percent, I don't recall the percentage, but actually it looks like 2%. So that's what the $300 is. It's just the, treasurer's fee to collect and remit the tax increment to the city. So projecting about $16,500 in tax increment, the URA's first revenue since its existence, and that's just based on the assessed valuation within the area and the revenue that is the agreement. property that was developed within the authority. So with that, revenue is $16,500, and the $300 in county fees leaves an ending fund balance of $16,200. Great. That was a simple presentation. Thank you. Commissioner, does anyone have any further questions of clarification? And again, just a reminder, this is not the time for debate or discussion, just clarifying questions for staff. So, Commissioner Ballou. But I want to debate it. We're getting a tax increase from, I believe it's Service Street. Oh, that makes sense. Thank you. Good to know. Are those funds available to us in the New York system? Well, yeah, if we had access to money in 2025, when would that 16,000, that would be, tries to spend? In 25. But what, June, July? December 31st. If I had a projection at the time, it could have been spent. Okay. In 25. Thank you. Any additional questions? Right, I'll go ahead and open the public comment. at 5.05 p.m. You may sign up or probably comment on resolution 25-01 by typing your name and address into the chat feature. If you're attending in person, please sign up on the clipboard in the back of the room. Individuals will have three minutes and persons speaking on behalf of the group will have five minute time limit. We'll pause for individuals to sign up and clerk Duffy whenever you're ready. We do not have anyone sign up. All right. Thank you very much. We will go ahead and close public comment at 5.06 p.m. May I have a motion to begin discussion and debate? I move to approve resolution 2501, adopting the 2025 budget for the Castle Pines and Urban Renewal Authority and authorizing it to our patients. Second. Motion and a second. You can do it. Commissioner Blue, I'll go ahead and start with you. Do you have any further discussion? No, I think it was a good presentation, very succinct. And there's not a lot of debate on this issue right now. So I look forward to the day when it actually matters more than this. All right, is there any further discussion? Seeing none, go ahead and vote. All those in favor of... Approving Resolution 25-01, say aye. Aye. All those opposed? The motion passes. We'll close the public hearing at 5.07 p.m., and we'll move on to our final item on general business, which is the public hearing for Resolution 25-02, a resolution adopting a budget for the 2026 calendar year and approving appropriations related thereto. I'll open the public hearing at 5.07 p.m., And our presentation will be given by our finance director, Mike Breen. I'll go ahead and turn it over to him. Chair and commissioners, same thing, but this is for 2026. Just from the valuation that I received from the assessor for the tax increment, it did increase somewhat. So you can see the revenue going from $16,525 to $71,600. That's just based on what the assessor provides for the valuation of the increment. And with that, we put together a budget. You can see the treasurer's fee, $1,100. That's the percentage that is due to the treasurer for the collection of those TIF revenues. And then professional services and URA projects. professional service 5,000 and URA projects 50,000 right now. You could just consider them as a placeholder. There are no presented projects to spend, but we just thought we'd have a budget rather than come and amend later. Just thought we'd put a budget in there as a placeholder. Same for the professional services auditors, possibly, or any other professional-type services that may arise. So a total of $71,600 in total revenue and expenditures of $56,100, plus the beginning fund balance will leave an ending fund balance of $31,700. That's my presentation. Thank you, Commissioners. Are there any questions? Commissioner Blue. that's just a place one right there's no project in the works nothing that anybody's talked to us about no well see so the um for the some of the council members commissioners know this um but for everyone's edification so we had been working with the property owner of the dukes to pinos area and the building that the city offices are in um and those were i would say they were Minor aesthetic improvements included upgrading the signage that's primarily on the east side of the property, adding a sidewalk so people weren't walking down to Duke's, down the roadway system, adding landscaping and lighting, trying to think if there's anything else, possibly a band stage over at the far east side of this property. And they had been interested in it. Then they started buying up other strip malls. and got sidetracked with doing that and said, well, we're still interested in it. But ultimately then they decided to sell the property. It's supposed to close this month. So we have talked to the buyers of the property, walked them through in more detail, showing the drawings that the current owner had been thinking about. And they said, that's interesting. Let us close on the property. Let us understand what the financials really look like for several months. as they see if the books that they were provided are actually what those books are. But sometime in 2026, they may be interested in coming and talking to us about those proposed changes or anything else. That also includes, and this is more for the council commissioners, the road transfer of the three roadways in here, which had been approved by the commercial HOA, but hadn't been executed. by this property owner because they are the majority vote on that commercial HOA. That, too, is on hold as the new owner evaluates whether they truly want to give the city the roadways. And if you remember, one of our proposed first projects under the URA could be in partnership with the city to use URA funds to bring the three roadways up to standard and improve them, additional signage, any changes that we wanted to see, those kind of things. So to Commissioner Blue's question, we could actually have a project in 2026 if this new owner is interested. The owner east of or west of King Soopers, I don't see anything happening in that arena. It's relatively new. It's in relatively good shape. And then the current owner of the Safeway area does not seem, at least currently, inclined to... utilize the URA funds at this point. They tend to be pretty conservative on it and not want to partner with the city and just do things on their own. But I think the $50,000 is a good potential placeholder because, as I said, all of those changes, absent the signage, are relatively inexpensive. So the URA's proportionate share would probably be pretty small. I mean, it still might be above $50,000, but it would get us started on doing even the financial analysis. Any additional questions? Thank you for the presentations. So last year we get 16,500 and next year we will get 71,600. They are from the same company, right? It's the same URA area. explain to me what's the breakdown? How come you only get 60,500 and whereas Lexi you only get 71,600? That doesn't look like it's an increment of times four. Is it a quarter? No, the amount in 25 is for the whole year and the amount in 26 is for the whole year. I don't have the makeup. I'm sure most of the 25 budget was from Service Street. But for 26, I'm not sure what else added to bring it up to the $71,600. So I could reach out to the county and find out what valuation increase that would cause the increment. I would think it's the leverage. There you go. There you go. So we've had two new constructed buildings to increase the increment. We've had Service Street, which is a... four bay, I think it's four, three or four bay, four bay, car, you know, oil change, you know, tire kind of place. And then we've got a fairly significant, I don't know, square feet, but it's like an 800 storage, 800 unit storage facility, which would be much greater value, assessed value than the service streets. I think that's what you're saying, you're saying those two, because they're new buildings. So it's not just a, inflationary increment. It's actually new construction. If you don't mind, I'll be interested to see the red dot for the 2026 versus 2027. Yes, sir. Thank you. Mr. O'Reilly. Mr. O'Reilly. Our planned expenditures in the last year come up to about $56,000. Thereabouts, we had $71,000. Where's the other $15,000? That remains in thought balance. It's just carried over into the following year. And we can add to that last year. So we have about nearly 30,000. No, that's Kevin. Well, correct. 31,700 is that we have about 30,000. Correct. Thank you. Commissioner Eubanks. All right. Is it permissible if there is a project that exceeds the UR? the URA fund balance for the city to supplement that? How does that work? The city would enter into an IGA with the URA. And actually, I think from a legal perspective, and you can correct me if I'm wrong, that actually validates the collection and keeping the increment. Because now the URA actually has debt that it has to repay, so it validates that. But that, it's a great question because that's actually how we had proposed to handle the roadway piece, because I think that was, I wanted to say a million dollars, I don't remember the exact number, maybe somewhere between $500 and a million. And so what we had talked about, maybe two years ago now, was the city would loan the URA that money through an IGA and then pay it back as the money came back into the URA funds. Thank you. I just want to request if we could just get a kind of a balance every now and then about where the money's coming from. So we just have an idea. You know, like what he asked for, what Commissioner Locke asked for. Sorry. Just regularly. like where the money is for yearly, just so we have an idea of where the money's coming from. So my guess is we're probably not going to want that once it really starts coming in. But at this point, it's kind of interesting to us, at least to me. Any additional questions from commissioners? All right. So open the public comments at 5.17 p.m. If... If you would like to give public comment on Resolution 25-02, you may type your name and address into the chat feature if you're attending virtually. And if you're attending in person, please sign up on the clipboard in the back of the room. Individuals, again, have a three-minute time limit. And persons who are speaking on behalf of a group have a five-minute time limit. So definitely do we have anyone sign up to give public comment on Resolution 2502? We do not. Right. I will close public comment at 5.18 p.m. May I have a motion to begin discussion, please? I move to approve resolution 25-02, adopting the 2026 budget for the Castle Pines Local Renewal Authority and authorizing the required appropriations. Second. I have a motion and a second. Commissioner Cole, do you have any discussion as you gave the motion? No, all my questions have been answered. It's pretty clear about what we have to do. Any additional? Commissioner Eubanks? I think the additional was already answered during the clarification process, so nothing. All right, any additional comments? All right, we'll go ahead and vote. All those in favor for approval of Resolution 25-02? Signify by saying aye. Aye. All those opposed, same sign. The motion passes. And we will close public comments at 519 p.m. And that is it for our agenda. So go ahead and adjourn the meeting at 519 p.m. Thank you, everyone. I was going to say, have you ever had a meeting that fast? No. Hey, features.