Yeah, Kevin, you're really missing so much over Laura.

I have a question.

Commissioner Rogers, Commissioner Williams.

Here, Vice Chair Cutler.

Here, Chairman, Chair Muller.

Open public input.

And seeing no members of the public will close public input.

Move on to we've got three previous um meeting notes, meeting minutes that we need to approve.

First is the February eleventh, twenty twenty-five meeting.

February eleventh minutes as written.

All those in favor, please say aye.

Moving on to approval of the April eighth, twenty twenty-five meeting.

Aye.

Approved.

And finally, the July eighth, twenty twenty-five meeting minutes.

I move to approve the July eighth, twenty twenty-five minutes.

Motion and the second.

It's approved.

Moving on to our only agenda item resolution 2025-03 approving an intergovernment governmental agreement with the Lafayette Downtown Development Authority.

Okay.

So short but important item tonight.

This is the IGA that helps us formalize some of the funding and agreements that we have with the newly formed downtown development authority.

So I'm going to be going through the framework of the IGA, the administrative support, additional funding, the parking lot leases, our economic development agreement, and loan repayments.

Talk about next steps, have uh some time for question discussion, and then the motion language.

So the first section that is in this IGA is related to administrative support.

And I have here some language from the IGA between the city and the DDA because the IGA is referenced.

And it talks about the city will assign one or more city employees as determined by the city manager to act and carry out functions of the executive director of the DDA.

Neither the city nor the DDA anticipates that they assign employees will be exclusively devoted to the authorities' activities.

And so this is very similar to the structure that we have now where I report to the city manager, and I also report to Laura.

Um we're doing the same thing where I report to the city manager and the DDA board.

Um and so this section of the IGA talks about that Laura will cover the costs of um the administrative cost for the first year.

Um just because they won't have any tip revenue this upcoming year, and there's some short overlap with that.

So one question.

Did we just I'm trying to think if my question is based on something that happened in executive session, which it may be.

Um cover some portion of something or yeah.

Well, the the administrative the 10% administrative cost.

I understood that to be for the first year potentially so then um so they're not charging the DDA any cost this year.

Okay.

Um and there's a ramp up period for the fee of the um administrative costs for the DDA for the first five years.

Okay, so they're going to charge it in 20% increments.

So the first year, which we'll start charging is in 2026, and it's about 37,000, and then it will go up 20% in 2027.

And so the idea is that by 2029, they're paying the full cost for what it would be to have an administrative fee.

And uh that is memorialized in the IGA between the city and the DDA.

Okay, and it's been negotiated in last night we had our DDA meeting, and I introduced the budget, and we feel like we have a healthy um roadmap and fund balance because of the startup funds that Laura will provide.

Okay, thanks.

Yeah.

So that's a good transition to the additional funding.

So this section is um meant to really outline what this funding should be without being too prescriptive of saying you need to use exactly this amount for this because we want to be able to provide some discretion to the DDA because things pop up.

Um, but they'll roughly be around two million dollars available that we can provide to the DDA as startup funds, and we outline here that's supposed to be spent on the administrative fee, the parking lot program, small business support, such as capital grants or programs, and district support, such as marketing, farmers market, holiday lights, anything that is meant to support the district as a whole.

Um, and in there we uh say that the allocated amount will be determined by the Laura executive director based on final accounting of remaining Laura projects and the property tax increment financing received by Laura.

We still have like one more chunk of property tax increment that we need to receive, and then there are just some projects that we are um wrapping up, but I feel pretty confident that it's gonna be around two million dollars, and so um this I we worked with this language with our city attorney, so it's a little flexible enough that if it's you know 1.9 million, we don't have to change anything, but the idea is that we're giving roughly this amount based on all the other commitments that we have.

And so then we also have a line in here that says that the DDA is gonna prioritize funding administrative support and the parking lot maintenance before um allocating funds for small business support and district support, and I was able to pull um historical trends for the parking lot program for the past uh three, four years about how much we paid for snow removal, how much we paid for striping and maintenance, and so I've built that into a five-year projection for the DDA also with the administrative fee ramp up, so we're able to see what is kind of left over and what that can be spent on and your insurance too, right?

And so I've built that into a five-year projection for the DDA also with the administrative fee ramp up.

So we're able to see what is kind of left over and what that can be spent on.

And your insurance too, right?

Insurance for parking lots.

We don't have to pay for insurance, that's because it's all on the private property owners for that.

Okay, I thought there was some something with helping with insurance costs with it.

Yeah, maybe we are covered under SORSA.

Um, Lura is, and the DDA will also be.

Um, but we we haven't paid any insurance costs.

Okay.

Yeah.

Um, and then so some other context notes like the administrative fee, as I mentioned, we'll have that five-year ramp up period.

Um, we will need to reassign those leases to the DDA.

Um, and then that leaves roughly around like 300,000 for them to spend on uh core services and support.

So then the parking lot leases.

Um we have 11 active agreements, all with unique terms and some automatically renew each year.

Um, and they're all a little bit different, but we typically provide routine maintenance, which includes snow removal, line striping, and pothole repair.

Um, and so we're going to reassign the leases to the DDA as I as I just mentioned.

Um, one thing that has been discussed with um the DDA and specifically Commissioner Rogers because she understands the leases pretty well, and she's also in the DDA, is that they've requested that they have the opportunity to audit the leases before accepting them and determining if some terms need to be updated.

Um, also wanting to see is there opportunities to add bike parking in the parking lots or maybe even EV chargers, and also thinking are there leases that we currently have that we don't need.

Um, but one of the examples is the Lafayette Florist.

We currently have a lease for, and we actually pay to have it.

Um, but it doesn't necessarily need to be a public parking lot at this time.

So uh they they just requested that.

So that I think that that's something that can be worked out when we do the individual transfers.

And so then uh loan repayments.

Um we have a number of economic development agreements um that we've executed these past couple years, and each have their own terms and repayment schedule.

And um, in the IGA talks about that any loan repayments will just be transferred to the DDA to support their plan of development rather than um being put towards LURA, and then we will also need to write an IGA with the city to take over management of the EDAs, and this is more so there needs to be a subordination agreement.

Um, instead of assembling you all to approve that, we would do an IGA where the um economic development director may have authority with the city manager to like approve you know some level of uh modifications if it doesn't really change the intent.

So this part within our IGA with the DDA just talks about transferring the funding.

The DDA won't actually have to manage the actual EDAs, and so we have two that we actually get payments back.

The first one is um Jordan's Jordan Lewis's project with um Fox Glove and the Yard, and so that's 150 over 10 years, and the other one is with Karen Van Day for 210 South Public Road, it's 71,000 over five years, and so I just have a it's hard to see, but I just have a small payment schedule here, and so um the DDA will get around 29,000 for the next couple of years, and then it will drop down to 15,000 once Karen repays hers.

And so for next steps, um you all are reviewing uh the IGA tonight.

Um, and if we move forward with it, then the DDA will review and approve their IG at the September 8th meeting.

Um, council will ultimately approve the DDA budget, which is different than how we do our budget with council, they just um provide feedback through state statute.

The governing body, which is council actually reviews and approves it via resolution.

So when they approve that budget, they will also be approving the Laura transfer of funds at their October 28th meeting because I know there was a thought about 40% over our budget.

Does council have to review it?

And that will just be wrapped up into the DDA budget approval.

Um, so I have some draft uh motion language here, and happy to turn it back over to Kevin to answer any questions.

Thanks, Bridget.

So just so flip the questions.

Um I have one comment, and that is on page 14 where we're talking about additional funding.

I would like to add a number five administrative support, parking lot maintenance and leases, small business number five would be other district expenses deemed qualified by the executive and necessary by the executive director, just because there may be categorical spending that the DDA wants or needs to do.

And what do you all think?

I mean with without it, is it precluded that they can't do it, or we're just trying to be more clear.

I think it could go either way, depending on who's who's watching through this, you know, both staff and DDA members.

Um I think it's more just I don't know that it couldn't happen, but I could also see it being a roadblock to to something, and I can't even imagine what it is.

But um I think it's helpful.

Um the GDA is gonna be audited just, I mean Laura gets audited as part of the city audit.

The DA will be audited too.

If for some reason they look at this IGA and say, like, show me the accounting, and they say, like, I don't know if it fits into these, then that's the only time I think it could happen.

But it's kind of that safety net of and anything else.

Um, yeah.

Yeah, I'm I'm fine with it.

I mean, if we're still pretty much just ranking the all right, you can spend the money here first, then here, then here, then here.

Anything left over is your discretion.

So I don't have an issue with that.

Same.

Okay.

Great.

So we can um I can just add that in because the resolution says in substantially a similar form to, so yeah.

Okay.

Thank you.

Any other questions?

This is exciting.

Yeah.

Yeah.

It's really exciting.

Um, yeah, we went through our budget yesterday for the first time.

We have a work plan.

Oh, we have some they're a real bored.

It's fantastic.

Feels like my teenager's going to college.

Now we just need to retire you guys.

Um, I guess if they're I'll make a motion.

Yeah, no other questions have a motion.

All right.

Uh I'll motion to approve resolution uh 2025-03, approving an intergovernmental agreement with the Lafayette Downtown Development Authority with the addition of a number five to allow all other things.

Second.

A second.

Any further discussion?

All those in favor, please say aye.

Aye.

It is unanimous.

Great.

Thank you.

So just have some updates for the next agenda item.

Um, so for the 700 and 800 block um streetscape project, we have 100% design, which is really exciting.

Um, we did a cost estimate, and it seems that we'll be within the 1.2 million.

It this project was a little trickier with the alley because um the drainage, and we actually are gonna have to probably pipe um drainage into the storm sewer.

Um, but we're we're lucky that it looks like it's coming in what we thought it would be.

Um there is some right-of-way acquisition that we need to figure out if we can do with the property owner of 709-711 South Public Road, where Deluxe Lickers is and Rocky Mountain Legal.

And so I have an appraisal and we'll have that discussion.

And if it works, then we'll include that portion of the project.

And um, if we can't come to an agreement, we will just move on without it.

So that is something that we'll be discussing that property owner in uh the upcoming weeks.

For 760 West Basine Road, um, we're still under contracts.

They are still um putting together their submittal for their PUD and SPAR application, planning and development and site plan architectural review, and they have until the end of September to submit that to stay within the contract closing deadlines.

We're 701 South Public Road.

Um we are ready to schedule the official closing with the city, so I'll be scheduling that with Kevin and City of Lafayette, which was great, and then we'll transfer that over.

We'll change the zoning as part of the land use code zoning update to change it into a park space.

And um from the city side, we selected Air's associates as the designer.

Um, and we're gonna be going to council to give them an update at the end of this month, and they'll be at for night out, the farmers market in September, and also Sanchez back to school night to do outreach.

So it'll be really cool, and you all should participate in the outreach of the deal.

Uh other window items.

Um, as I mentioned, we're gonna have to do that IGA with the city, so I'll get working on that.

And then we have to transfer our easements to the city of Lafayette, and I have that scheduled to go to them later in September.

Um so we're we're almost there.

Yeah, we have a couple more things, but I think that we're in a pretty good track as far as wrapping up all these items that um hopefully with you know the streetscape project and 760 that those are the last like big remaining things.

Great.

Yeah.

Great work.

Those are uh I think all of my updates.

Oh, the only other thing that I have um is as a board you all can take a formal position.

Um I guess this is new business.

Um the bond measures for the city.

So um, you don't have to do it, but I just wanted to remind you all that as a board you can do uh a resolution support if you want if you wanted to.

And I'll turn that over to Kevin.

Okay.

Great, thanks, Bridget.

Um just open up the commissioners.

Does anyone have anything to uh report out?

I'm running for council.

Any Lafayette residents want to sign here.

After the meeting.

Do you have anything?

No.

No.

Okay.

I don't so um I will say I will say I was at Fox Club Friday night after Art Night Out.

And it was packed.

Was it packed?

Yeah.

And I don't know if it's that way every week, but um, I just people seem to like it a lot.

Great.

Also, to say the farmers market seems like it's been really successful.

Yeah.

That's really been great.

It just works there, so it's good.

Yeah.

Yeah.

Um, and I think they're super happy and we're just super lucky that Peter and Margaret decided to move to Lafayette.

Yeah, yeah.

It's been great to go to every week.

Yeah.

It was time for something to be successful.

So some of the vendor two of the vendors told me that they felt like this was they they'd been involved off and on some of the others, and they felt like these market managers knew their stuff.

That's great.

Um which I took to mean that maybe the others didn't, but I don't I can't say that in part for sure.

All right.

Well, I will adjourn the meeting.

Thank you.

Okay.