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5 - Summary of Economic Vitality Action Group Meeting, 6/4/03Summary of Economic Vitality Action Group Meeting Wednesday, June 4, 2003 PresenC EVAG Members: Gary Myre, Mary Ann Mahoney, Gene Sullivan, Terry Rodrique, Matt McMullen, Susan Bond, Jeff Lipton, Rich Wobbekind, John Koval, George Karakehian City Council Members: Tom Eldridge, M1rk Ruzzin, Gordon Riggle BURA Board: Phil Shull, Susan Connelly Staff: Frank Bruno, Brad Power, Molly Winter, Donna Gartenmann, Karen Ripley, Marie Z~izack General Public: Christian Isquierdo, Bill Curtis, Tim Thomas Frank Bruno opened the meeting slying that City Council was interested in hearin~ from EVAG about the future role oF BURA. The funding for BURA staff h1s Ueen eliminated in the 2004 budget and the future of the BURA Board is in question. Regardless, the authority of Yhe urban renewal authority remains in tact. Brad Power reviewed the history of urban renewal nationally, staTewide and locally as well as presented an explanation of Cax increment financing. (See Attached summary). Phil Shull, chair of the BURA Board, said that BURA has had a history of success ~nd has been underutilized by the city. Regardless of the future structure, there will be an administrative needs related to the existing urban renewal projects: Crossroads redevelopment and 9`~' and Canyon, and Council tasked the BURA board with participating in the next phase of the jobs/housing project in relation to the BVRC. Shull outlined other potential roles for a BURA board: 1) public education and outreach regarding economic development opportunities, for example the use of tax increment financing, 2) advocacy and educational role regarding urban revitalization since Boulder is primari]y built out development will be primarily redevelopment 1nd at greater densities; 3) greater involvement in Crossroads both advocacy with Mace Rich and Westcor to encourage a high quality project and to help expedite the project; 1nd 4) potential advocacy role for other redevelopment projects such as the Transit Village, connections with CU, Diagonal Plaza. The following points were made during the ensuing discussion: • The city needs the ~u~ban renewal fimction, and a citizen committee wiCh Che backing of the city structure • There is concern that recently BURA has had no return on the investment of $350,000 annually. • The urban renewal authoiity function can be assumed by the Ciry Council. • The current BURA Bo1rd is the strongest and most tllented ever. In this economic time, we do not have time to start from scratch and cre~te 1 new entity. The board could be massaged into new authority in the long term. • Concern was express that the BURA Board is not respected by Planning or City Council. • There is a need for 1 board to take on other citywide Functions such as economic analysis, marketing, promotion, and business retention and recruitment. • The redevelopment function and economic development energy needs to be established city wide, not just in the SVRC. • The cu~rent BURA board is specialized in redevelopment; if the functions were expanded beyond redevelopment, the board would need to change to get the other expertise. If the board expanded, it would lose the specialized nature of BURA diluting the board's focus on redevelopment. • In order for any board to be successful, it will require the direction and support of the City Council and other city boards and staff such as planning. • The Urban Renewal function needs to be assigned to some entity either BURA, City Council or a new board. The city needs a group with all the tools to le~d the economic vitality effoR. The current board could begin this effort and adjust the role in the long term. • The need for an ongoing urban renewal authority is clear; it is unclear where that authority would end up. The question is what more do we need - business retention and recruitment, branding, marketing - and who can do it? • Stlffing For economic development should report directly to the city manager and needs to have "cheerleader" qualities, it's not all redevelopment. Relationships with BEC, Planning Board, Chamber and citizen advisory boards are important. • It is not a question of iF and when, it's a question of how to use BURA tools. The city of Boulder is up against the wall economically and we need to be doing things differently, but need to do it the "Boulder Way." The community needs education in the area of the importance of economic development. • The city is sending conflicting messages with the jobs/pop project and then talking about economic development. • The City Council will be hiring a new city attorney and it is important thaC he/she be open to the business community and is an "enabler" for the city's economy. • With summer coming and peoples' schedules being filled with vacations, the group targeted completing their efforts on July 2. Frank Bruno said he will be focusing on the development of an economic policy to be adopted by city council which will provide the framework ~nd guidance for all economic development efforts such as redevelopment, tourism, business retention, etc. He does not want to reinvent the wheel and wants to use the resources within the community such as the BEC, Chamber and BCVB and others. He sees a structure emerging and will present 1 schematic of his vision at the next EVAG meeting.