SUBJECT:
Title
A Resolution of the Board of Commissioners of the Town of Erie Urban Renewal Authority Approving a Reimbursement Agreement with the Town of Erie for the Colliers Hill Urban Renewal Plan Area
Body
DEPARTMENT: Economic Development/TOEURA
Public Works
Finance
Department
PRESENTER(S): Julian Jacquin, Director of Economic Development & TOEURA
David Pasic, Director of Public Works
Lockie Woods, URA Development & Accounting Analyst
First Name Last Name, Title
TIME ESTIMATE: N/A
only required for non-consent items
FISCAL SUMMARY:
Cost as Recommended: $298,251
Balance Available: $308,081
Budget Line Item Number: 800-90-871-800300-100215 (pedestrian bridge)
800-90-871-605000-100373 (traffic signal)
New Appropriation Required: No
POLICY ISSUES:
Whether to support the request for TOEURA to reimburse the Town with available fund balance generated by property tax increment in the Colliers Hill URA Plan Area to support eligible costs of design for the Old Town Colliers Hill Pedestrian Bridge, and construction of a traffic signal at County Road 5 and Colliers Parkway.
STAFF RECOMMENDATION:
Recommendation
Approve the Reimbursement Agreement.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Daybreak/Area 4 URA Plan Area (“Colliers Hill”) was approved on Sept. 10, 2013, to eliminate blight and support eligible public improvement costs to assist the development of the Colliers Hill neighborhood. Intergovernmental Agreements (IGA’s) approved with the underlying taxing districts establish eligible uses of property tax increment (TIF) funds captured by the Town of Erie Urban Renewal Authority (TOEURA) for this area, including both the pedestrian bridge connecting Colliers Hill to Historic Old Town, and transportation/traffic improvements on WCR-5. C.R.S. § 29-1-203 of the Colorado Urban Renewal Law authorizes the Town and TOEURA to cooperate and contract with one another regarding functions and services each is authorized to provide.
The Town recently paid $271,000 to support the design of the Old Town Colliers Hill Pedestrian Bridge and $27,251 for improvements to the existing traffic signal at County Road 5 and Colliers Hill Parkway. More specifically, the cost for the traffic signal is to upgrade the equipment and operations to:
1. Enhance the detection of neighborhood cross-street traffic through detection equipment upgrades (installed in March 2025).
2. Protected Right Turns on eastbound Colliers Pkwy to prevent U-Turn conflict with CR5 school zone traffic (to be installed by May 2025).
The traffic signal detection system (technology) has improved since the original signal installation. The new detection cameras have the ability to monitor demand on the approach to the intersection. This improves efficiency by placing a "call" sooner into the controller (computer) system. Additionally, with the school traffic demand increasing and expected northbound U-Turns, protected right-turn movements will prevent Colliers' traffic from experiencing conflict at the intersection.
Approval of Resolution 25-031 will authorize TOEURA to reimburse the Town for those costs from available fund balance in the Colliers Hill URA.
COUNCIL PRIORITY(S) ADDRESSED:
ü Attractive Community Amenities
ü Prosperous Economy
ü Well-Maintained Transportation Infrastructure
ü Safe and Healthy Community
ü Effective Governance
ü Fiscally Responsible
ATTACHMENT(S):
1. Resolution 25-031
2. Reimbursement Agreement