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HomeMy WebLinkAbout05-19-10 Downtown Business Improvement District (BID) Board Minutes Downtown Business Improvement District Board Meeting Minutes May 19, 2010 Attending: Mike Basile, Eric Bowman, Mike Grant, Dan Himsworth, Ileana Indreland, Buck Taylor, Chris Naumann, Ellie Staley, Cyndy Andrus Absent: Don McLaughlin Public Comments There was an informal discussion amongst members prior to the start of the meeting about vacancies and lease rates. Disclosures None Minutes ACTION:Eric Bowman motioned to approve minutes from January, February, March and April as presented Ileana Indreland seconded the motion. All voted in favor. Financial Report Chris presented the financial report indicating that there was little activity other than the anticipated costs of the on-going maintenance program. Chris informed the board that the year-to-date interest income was lower than expected due to a poor interest rate of the State Investment Pool (STIP). He presented the board with a recommendation to reinvest the BID savings into a money market and laddered Certificates of Deposits. He presented two options: 1) Simplest Management…which would be to make all the investments with First Security Bank; or 2) Highest Yield…strategically invest with FSB and American Bank to realize the highest return. The board discussed both and chose the Highest Yield option which would not only earn a projected $820 in interest next year but would also do business with 2 different BID member banks. ACTION:Ileana Indreland motioned to authorize Chris Naumann to reinvest the BID STIP savings in a money market and CDs with First Security Bank and American Bank as presented. Mike Basile seconded the motion. All voted in favor. Program Director’s Report Ellie Staley gave a verbal Program Director’s Report. She indicated that the Bobcat Fest was a huge success with increases in attendance and sponsorships over previous years. She continued by outlining the upcoming DBA summer event schedule: the Artwalk Series and Music on Main concerts. Ellie informed the group that First Security Bank will begin to sell Downtown Dollars. This will provide more opportunities for people to purchase the dollars considering that Ellie and Chris are not always in the office and the Bank is open on Saturdays. Executive Director’s Report BID Renewal Update After postponing the renewal process in order to collect statements of capacity from over 30 property owners who signed their BID petitions, the City Commission will be considering the th Resolution of Intent to Re-create the Downtown BID Monday, May 24. I will give a short presentation reviewing the 2009 annual report and demonstrating the need to re-create the district in order to continue providing all of the organization’s beautification and maintenance services.To date I have received 71 signed petitions representing 64% of the owners by square footage in support of re-creating the district. The Resolution of Intent begins a 10-week formal ordinance process (publishing public notices, stnd public hearing, 1 reading, 2 reading, adoption, 30-days effective period), which should conclude the third week of July. Streetscape Improvements Update Tire-Rama and Heebs have replaced their sidewalks between Church and Wallace Avenues. Both projects have ordered LUMEC streetlamps consistent with the prescribed downtown streetscape design. Both have submitted applications for the TIF’s Streetscape Assistance Program. The Gallatin Building will be replacing their sidewalk in the coming months. Holy Rosary Church has expressed interest in at least installing the downtown streetlamps. The church property is within the TIF district, but is not included in the BID district. This means that they are eligible for technical and financial assistance from the TIF, but not eligible for the flower basket, holiday decoration, or banner programs administered by the BID. I spoke briefly with the project architect from ThinkOne about the option of the church purchasing flower baskets from Oak Gardens with the understanding that the BID will water them daily. More discussions will follow to determine how to proceed with Holy Rosary. Flower Basket Program Update th As of today, I have 12 flower sponsors while last year I received a total of 13 by June 15. I have ordered a total of 156 flower baskets from Oak Gardens, which is an increase of 10 baskets. As is the case every year, I will coordinate with Oak Gardens about the installation date, which depends on “predicting” the last frost—usually the first week in June. Considering Heebs quick decision to upgrade their streetscape and add 3 streetlamps, I need to recalculate how many streetlamps are in the district versus how many flower baskets I ordered. I have asked Oak Gardens if there is the potential to purchase more baskets at this point in the season in case we need to add more to Main Street. Maintenance Program Update Brad Harris has been working as our primary maintenance employee for three weeks and is doing an excellent job. In addition to emptying the trash receptacles, he has been busy removing graffiti tags (27 this week alone), installing bike racks and benches, and preparing the truck and watering system for the flower season. Kyle is still our weekend maintenance employee going into his second year in that position. ACTION:Ileana Indreland motioned to authorize Chris Naumann to purchase additional flower baskets from Oak Gardens not to exceed and expenditure of $1000. Mike Basile seconded the motion. All voted in favor. Discussion and Decision Items FY2011 Draft Budget Chris presented the draft budget for FY2011. He noted the following regarding “Incomes”: the assessment remains at $114,000; the interest income will be higher with the savings reinvestment; sponsorships would remain the same. Chris pointed out that there would be no increase to the Management Fee. He proposed Payroll Expenses well below the FY2010 level but higher than the FY2010 YTD figures. Most other expenses would be comparable with the exception of an additional investment in the purchase of flower baskets and vehicle insurance. Chris concluded that the BID would begin the year with a minimum of $60,000 carry over balance that would be invested as previously discussed. The board discussed the overall financial situation indicating that they were pleased with this year’s finances and very encouraged by the FY2011 budget. ACTION:Ileana Indreland motioned to approve the BID FY2011 Budget as presented. Buck Taylor seconded the motion. All voted in favor. Downtown Tree Replacement Chris informed the board that 5 to 6 trees needed to be replaced in the district. Three would be part of the Tire-Rama streetscape improvements and at least two others had died elsewhere downtown. Chris indicated that he had gotten a quote from Cashman’s for $395 per tree (including purchase and planting). He said that he would get some credit from the COB Tree Voucher program and anticipated the total costs to be between $1650 and $1950. ACTION:Dan Himsworth motioned to authorize Chris Naumann to purchase trees from Cashman’s not to exceed and expenditure of $2000. Mike Basile seconded the motion. All voted in favor. New or Old Business Cyndy Andrus said she is very excited to be the City Commission Liaison to the BID Board. She requested that at a future meeting we discuss our expectations of her as our liaison. And she would like to offer her thoughts about the role she can play for us. Chris said he put it on the June agenda. Chris reminded the board that the Partnership Management Committee will be conducting the th annual employee reviews on May 24. With no additional new or old business to discuss, the meeting was adjourned.