HomeMy WebLinkAboutLaurel Urban Renewal Agency Minutes 07.19.2010 MINUTES
LAUREL URBAN RENEWAL AGENCY
JULY 19,2010
THE OWL CAFE-203 E.MAIN STREET
Members present: Shirley McDermott,Dirk Frickel,Bruce McGee,Daniel Klein,Dean Rankin
Advisors present: Steve Zeier
Others present: Bill Kampfer,Pat Weber
Minutes from June 21 and July 5 were approved as submitted
Pat Weber asks the question"how do we control Agency money? There have been 3 TIF districts
established in the area. One pays for 40 acres at Miller's Crossing where Cabela's and Sams are. If any
questions contact Beth Conahan at Wells Fargo Revenue Office.
Revolving Loan fund-one in Billings for 3 million seed money started and banks have thrown in another 3
million. They have a revolving loan committee with 1 banker as chairman.The interest rated is prime plus
5 points and they have had only one problem loan. The loans are usually 8 to 10 years with a balloon at the
end
Technical assistance/Fagade grant program-Laurel issues as most cities a 1099-G to file taxes. Babcock
Bldg is being renovated to a theater and title goes to the TIF in 2014
Laurel Alive-The Caboose,is starting to be painted this week. Project is coming in under budget.
Landscaping is beginning soon. Mural is coming along and classes are going well. An Awning is going to
be a next year project. Rock the Block was lightly attended due to many conflicts.
SE 0 Ave project meeting with the city turned out very positively The City had pricing,terms,scheduling
issues and many answers The highest priority is storm water hookups,fix the dips in the road,resurfacing.
There is still an issue about the"front footage being the basis for each owner's base rate which needs to be
made more fair.Bill Sheridan is looking into a better option. Drain collectors are not well located. The
City hopes to have the project finished this fall.
The Annual Work Plan needs to go to the City thru James. Financial statements depend on City information
and are due June 30
No information coming to Laurel Urban renewal for the water line to the new theater.
We will try to invited the new treasurer and Bill Sheridan to the next meeting.
Applications for Fagade and Tech.assistance need to be finalized--Steve will review and send to the Mayor,
City Council and either can make or suggest changes.