It was a banner day for the Woodland Park Downtown Development Authority as its board members signed a reimbursement agreement with the owners of the Family Dollar and O’Reilly Auto Parts stores in Tamarac Center.
Filling in for authority executive director Beth Kosley, who has recently suffered an illness, City Manager David Buttery explained to the board at its May 1 meeting that the agreement reimburses the authority for drainage work done in the center.
The reimbursement comes out of the difference between property taxes generated by vacant land and those generated by construction improvements, the “tax increment.” The contract also sets a revenue floor in the incremental payment.
“In the event of an (economic) crash, this contract makes sure we can service the debt whatever happens,” Buttery said.
The authority also interviewed two contractors in executive session before reconvening to decide which one will be in charge of installing infrastructure at Woodland Station and constructing the drainage system at Tamarac Center.
“Thirteen candidates attended our mandatory (requests for proposals) meeting,” Buttery said. “Six of them submitted proposals. We narrowed the group down to three and then down to the final two.”
He said the bids were not final because the plans for the work were not final, but they do include per-unit prices for such items as concrete and asphalt. “Nothing in any of the bids blows us away,” he said.
After the final interviews, the authority chose Colorado Structures Inc., based in Colorado Springs.
City Planning Director Sally Riley reported that several commercial projects are under way within and outside the authority district. Inside the district, both CHOICES pregnancy center and Vahsholtz Automotive will be breaking ground on their respective expansions; the Country Lodge is extending its existing patio and installing additional outdoor patio services; and Michael’s Motorcycle Works will soon be the home of a new restaurant, Casey’s Cafe.
Outside the district, Andrew Wommack Ministries Inc. has two more rounds of public meetings, a flood plain hazard permit request for the planning commission and a final plan, preliminary plat and a zone change ordinance for City Council.
“Paradox Beer has leased the basement at (the old) Tweeds (building) for a wholesale distribution and bottling business,” Riley said. “The beer will come from Pikes Peak Brewery.”