REDEVELOPMENT AGENCY OF BOUNTIFUL CITY 7:30 p.m. (Time approximate after the City Council meeting)  Tuesday, November 13, 2018  NOTICE IS HEREBY GIVEN that the Board of Directors of the Bountiful City Redevelopment Agency will hold a meeting at Bountiful City Hall, 790 South 100 East, Bountiful, Utah, at the time and date given above. The public is invited to attend. Persons who require special accommodations should contact Shawna Andrus, Executive Assistant, at If you are not on the agenda, the Board ofDirectors will not discuss your item of business until a subsequent meeting. If you wish to have an item placed on the agenda, contact the Redevelopment Agency Director at (801)298-6190, at least 7 days before the scheduled meeting.  (801)298-6140, at least 24 hours prior to the meeting.  AGENDA  1. Welcome  2. Consider approval of minutes for. June 12,2018. located at 73 West 1001 North, Bountiful. 4. RDA Director's report and miscellaneous business.  3. Consider approval of finalist forj purchase and preservation oft the Historic Day-Mabey Home  Chad Wilkinson, RDA Director AM    Pending minutes have not yet been approved by the Redevelopment Agency Committee  and are subject to change until final approval has been made.  BOUNTIFUL REDEVELOPMENT AGENCY  Meeting Minutes of: Tuesday, June 12,2018  Location: Present:  City Council Chambers, Bountiful City Hall, 790 South 100 East, Bountiful, Utah Chairman = Randy Lewis; Board Members = Kendalyn Harris, Richard Higginson, Beth Holbrook, and Chris R. Simonsen; City Manager - Gary Hill; City Attorney - Clinton Drake; Redevelopment Director - Chad Wilkinson; City  Engineer - Paul Rowland John Marc Knight  Excused:  1. Chairman Randy Lewis opened the meeting at 9:25 p.m. and welcomed those in attendance.  2. Consider approval of minutes for March 27, 2018.  Mr. Wilkinson noted that on page 2 of the minutes the loan call should read as 5 years rather than 4 years. Mr. Higginson made ai motion to approve the minutes for March 27, 2018 with  the correction. Ms. Holbrook seconded the motion.  A A A A A  Mr. Lewis Ms. Harris Mr. Higginson Ms. Holbrook Mr. Simonsen  Motion passed 5-0.  3. PUBLIC HEARING: Consider approval of Resolution 2018-01; FY 2018 Amended Redevelopment Director Chad Wilkinson presented a summary of the staff report (the full Each year the Redevelopment Agency (RDA) Board of Bountiful City must adopt a budget for the upcoming fiscal year. The Board may also adopt an amended budget ifnecessary. Staff has prepared an amended budget for FY 2018 and a final budget for FY 2019 for the  RDA Budget and proposed FY 2019 RDA Budget.  staffr report follows).  Redevelopment Agency of Bountiful City. The RDA budget includes two funds: Fund 72-1 Loan Program  Redevelopment. Agency. Minutes - June 12, 2018  Page lof3    Fund 73 - Administration and Operations  Fund 72 The Loan Fund administers the city's revolving loan program. Revenues for the fund include principle and interest payments from loans and transfers from fund balance. Expenditures are almost exclusively in the form of new loans. Since this fund has adequate balance to cover loans for the coming year, no new funds arel budgeted for Fund 72 this year. Fund 73 - The Administration and Operations Fund is used to administer the RDA programs and projects. Revenues are primarily from tax increment. This year's budget anticipates collecting roughly $1,097,450: in new tax increment. The remainder of the revenue is from Expenditures in this fund include personnel, operating costs (materials, supplies, and services) and special projects. A total of $4.2 million dollars has been budgeted for special projects for the coming year with revenues coming from a combination of Undesignated Fund Balance and new tax increment revenues. Special projects budgeted for next year include funding for the downtown plaza and professional services associated with the project, funding for extension of enhanced infrastructure, along Main Street, and planning and redevelopment efforts surrounding the existing City Hall and Renaissance Towne Center. A reduction in administrative funding for the area is reflected in the budget as negotiated with  interest earnings and fund balance.  the TEC.  Thel budget has been reviewed by the RDA Director and the City Manager.  Staff recommends that the RDA Board should adopt Resolution 2018-01 approving the Fiscal Year 2018 Amended RDA Budget and proposed Fiscal Year 2019 RDA Budget. Mr. Higginson inquired regarding future plans for the enhanced infrastructure. Mr. Wilkinson stated that the original proposal to the TEC Committee was for one block south (south of2nd South to 3rd South) and one block north (1st North to 2nd North). The timing for the north is not as critical as the south as there exists potential redevelopment which the city desires to tie in sO everything gets built about the same time as to prevent interruptions later on. PUBLIC HEARING: Chairman Lewis opened the public hearing at 9:29 p.m., and the Mr. Higginson made a motion for approval of Resolution 2018-01; FY 2018 Amended RDA Budget and proposed FY 2019 RDA Budget. Ms. Holbrook seconded the motion.  hearing was closed at 9:30 p.m. with no comments from the public.  A A A A A  Mr. Lewis Ms. Harris Mr. Higginson Ms. Holbrook Mr. Simonsen  Motion passed 5-0.  Redevelopment. Agency. Minutes -J June 12, 2018  Page 2 of3    4. Update and Discussion of Renaissance Pad A revolving loan application.  Mr. Wilkinson explained that Bruce Broadhead approached the city regarding financing for the project on Pad A (Lot 9), Renaissance Towne Center. Mr. Broadhead asked if the RDA would be willing to consider going back to the first loan application, which was to use the property (Pad A, Lot 9) as collateral for the loan, which would put Bountiful City into a second position. There were two previously approved loan applications for this development. One loan application was last year - using Pad A as collateral -1 being in second position to a commercial loan. A new loan, which was approved earlier this year, used a separate parcel as collateral with the city being in first position. There are pros and cons to both scenarios. Iti is good to be in first position, but it would lock up another piece of property which could impact development. There is an expiration on the terms of the loans, but nothing has been rescinded and the applicant has accepted the terms. Staff is seeking direction regarding the two scenarios. Mr. Lewis asked for a recommendation, and Mr. Wilkinson noted that while it is advantageous to be in first position it would lock up the property from any other developers, and with the other scenario it is not advantageous to be in second position on a loan. Mr. Wilkinson noted that the property valuation has been completed, and there is an appropriate loan/value ratio on the property. Ms. Holbrook asked regarding the possibility of changing to first position in the future, and Mr. Wilkinson explained that the terms and structure of the loan would have to be redone, but everything would depend on the timing. Ms. Harris inquired as to what would bring about the best results. Mr. Wilkinson suggested that the first scenario might provide the best results. Mr. Broadhead explained that he is the unique position ofhaving two lenders wanting to do things two different ways, and he asked the council to approve either approach sO that he can go either direction. Mr. Lewis asked the council ift they were at ease with the two loan scenarios, and the council noted that they were  comfortable.  5. RDA Director's report and miscellaneous business.  Mr. Higginson made ai motion to adjourn the RDA meeting. Mr. Lewis seconded the motion.  A A A A A  Mr. Lewis Ms. Harris Mr. Higginson Ms. Holbrook Mr. Simonsen  Motion passed 5-0.  The meeting was adjourned at 9:39 p.m.  Chad Wilkinson, Redevelopment Director  Redevelopment. Agency Minutes June 12, 2018  Page 3 of3    Redevelopment Agency  Staff Report  BOUNTIFUL EST.1892  Subject: Day-Mabey Home 73 W.100 North  Author: Chad Wilkinson, Planning and Redevelopment Director  Date: November 13, 2018  Background  The Redevelopment Agency purchased the property at 73 West 100 North on December 5, 2016 for the purpose of creating additional parking to support downtown redevelopment efforts. The property has an existing residence that was constructed between 1903 and 1906 and isi identified as the Day-Mabey home in the Bountiful Historic District inventory. The residence is in disrepair and earlier in the summer the RDA received complaints from adjacent property owners related to use oft the property by transients. Bountiful Police removed the individual who was using the rear of the property as a temporary living area and the City initiated efforts to remove the buildings on the site in order toj prevent future impacts Asaroutine part oft the demolition process, the City! building department notified the Bountiful Historic Society oft the pending demolition. The Historic Society expressed concern with the demolition oft the home and asked the City toj postpone the demolition. While the City has no regulation preventing the demolition ofa an historic home, it was determined to be worthwhile tol look at other options prior to demolishing the building. After reviewing options available for preserving the existing home, the RDA Board directed stafft to issue a request for proposals (RFP) in order to solicit offers for the purchase and renovation oft the residence. Notice of this RFP was sent to members oft the Bountiful Historical Preservation Foundation, and was published ini the newspaper and posted to the City website. The City received two proposals by the November 1st deadline: one from Brian Knowlton representing Knowlton General and one from Michael and Kristan Crouch. The RFP included the following five evaluation criteria to be used in selecting a finalist for  toa adjoining properties from what had become an attractive nuisance.  Analysis  purchase oft the property:  1. The respondent': 's proposed use of the property. 2. The area oft the lot proposed for purchase. the home in a timely manner. 5. Proposed purchase price.  3. Proximity oft the subject property to other land already owned by the respondent. 4. The respondent's ability, capacity, skill and financial capability to complete renovation of    The City was fortunate to receive two very good proposals. Both proposals were submitted byi individuals/companies with experience ini renovating historic properties and both submitters appear to have the financial and technical capability to complete renoyation/'restoration oft the home in a timely manner. Where thej proposals differ is the proposed use and the size ofthe property requested. The Crouch proposal indicates a proposed use as an office with the need for approximately 4,200 square feet of] lot area. Since the Crouch family owns and operates their business from the adjacent property they are able to propose a smaller lot area for purchase that could be combined with their existing property through a property line adjustment. Mr. Knowlton proposes a single family residential use for the property and seeks 8,000 square feet in order to create a compliant residential lot meeting the standards oft the downtown zone. The following table summarizes  the proposals:  Knowlton $146,000 8,000sf $18.25 No Yes  Crouch $63,000 4,260sf $14.78 Yes Yes Office Yes  Offer price  Area proposed for purchase Offer price per SF Owns property adjacent properties Proposed use Stated financial capability  Demonstrated ability to restore historic  Residential Yes  One oft the stated objectives oft the RFP was to "Preserve the maximum amount of! property for future parking to support the economic development ofDowntown Bountiful." Both proposals include viable plans for restoration oft the property. However, the Crouch proposal would preserve more property for downtown parking. Because the property boundaries could be easily adjusted to include the home within the existing parcel to the west, the sale could bel limited to only those portions needed to provide adequate setbacks for thel home. This limited purchase area would bei ideal and in keeping with the RDA plans for thej property. The Crouch family are the neighboring property owners and have a strong vested interest ini maintenance oft the property. In addition, because thel home would become aj part of their overall property, they would retain ownership of the building after restoration which would increase the likelihood oflong-term maintenance oft thel building. While the per square footage price oft the offer submitted by the Crouch family is lower than that offered by Mr. Knowlton, the prospect ofretaining additional property for parking means that the Crouch proposal is more consistent with the original plan for the property and the goals and objectives ofthe RDA with regard to the downtown. Both offers exceed the per square foot    price paid byt the RDA. For these reasons, RDA staffrecommends that the Council select the Crouch family as the finalist to move forward with negotiations on purchase ofthe property and to finalize details for an agreement for completion ofthe renovation ofthe home. As stated in thel RFP, ifthel RDA and the Crouch family are: not able to come to an agreement on the details of the purchase and renovation oft the home, the RDA will move to  negotiations with the respondent in the second selection spot.  Department Review Manager. Significant Impacts  The item has been reviewed by the RDA Director, City Engineer, City Attorney, and the City  Thej proposed purchase offer would leave sufficient area to construct additional needed parking on the property while preserving and restoring the historic home. This would be a  positive impact for the Downtown zone.  Recommendation  Iti is recommended that the Redevelopment Agency Board approve Michael and Kristan Crouch as the selected finalist and authorize staff to begin negotiations on final price and terms of an agreement for purchase and restoration of the Day-Mabey Home. The final approval of a purchase and restoration agreement will come back to the RDA board for  approval at a future meeting. Attachments Submitted proposals    73 W 100 North    KNOWLTON  PROPOSAL    KNOWLTON GENERAL  Day-Mabey Home 73 West 100 North  We are interested inj purchasing the home located at 73 west 100 North in Bountiful, Utah per the requirements and conditions outlinedi in thel RFP regarding this property from the Redevelopment Agency of Bountiful. We understand and will work with the City regarding the meçhanisms fori insuring that the home is restored and maintained as a single-family residence. We offer $ /46,16, e for the purchase price. Our financial capacity We anticipate beginning restoration within 60 days of finalizing the agreement with RDA and the purchase of the property (weather permitting)- We will work with the City on their requirements for future parking. We willr need the full 8000 s.f. of property to be a conforming lot andt to provide on premise parking for the residence. We will work. with the City on our final site plan to maximize the City parking use, as such, our proposed site plan can varyon We anticipate restoring the exterior of the house to maintain the masonry details and the roof lines. This may include structural work on the roof based on our exterior inspections. We will provide new fenestrations consistent  can be provided upon request.  length and width to meet the RDA requirements.    with the design intent and the period of the house also providing improved thermal performance. We anticipate a full gut rehab on the interior of the! house to bring the systems up to current requirements and to provide living space consistent with our high standards. We have multiple years' experience in Asbestos andl lead remediation Wel have extensive single-family experience on Restoration on Yale andl Harvard in SLC andi in the avenues. Below  arei images of some of our projects  2    We are currently involvedi in 2 SLC restoration projects.  The site plan would comprise the Northerly portion for the full frontage to allow the  building to be conforming. There is also a possibility to shorten the frontage ifits suites the RDA needs. We would prefer to create on site parking tot the East of the house. Further defined site plans willl be provided with Cityi input and prior to any detailed discussions. We willr require a minimum of 8000, details to be worked out due to the size  and width of the property.  Brian Knowlton  3    CROUCH  PROPOSAL    Michael & Kristan Crouch 245 North 100 East Bountiful, Utah 84010 (801)884-9679 - (801)573-5133  October 25,2018  Historic Day-Mabey Home Purchase and Restoration Proposal Attn: Chad Wilkinson, Redevelopment Director  790 South 100 East Bountiful, Utah 84010  Dear Chad,  Attached, please find our proposal for the purchase and restoration oft the Day-Mabey As long-time residents of Bountiful, and home designers by profession, wel have a deep appreciation for the architectural history oft the city. We are always interested in seeing the unique culture oft the city preserved, especially those structures located within the This proposal details the reasons we: feel that we: are. ideally suited to take on this project, including; our record of restoring historically significant properties, the proximity to our existing property, and our ability and desire to see the home properly restored and We understand that a written agreement with the RDA detailing the terms and conditions oft the purchase and restoration will be required. Should we be selected, we would be  home located at 73 West 1001 North in Bountiful.  Bountiful Fort Historic District.  maintained.  willing to enter into such an agreement. We appreciate your consideration in this matter.  Sincerely, Michael R. Crouch Meka/R.Covck    PROPERTY PURCHASE PROPOSAL FOR:  BOUNTIFUL CITY  OCTOBER 25, 2018  MICHAEL & KRISTAN CROUCH 245 NORTH 100 EAST BOUNTIFUL, UTAH 84010 (801) 884-9679 - (801)573-5133    Proposal to purchase property  Objective:  We are interested in exploring the possibility of purchasing aj portion oft the property  located at 73 West 100 North, Bountiful.  Background:  Iam a life-long resident of Bountiful. My wife, Kristan, and I currently own two properties in the city. Our home, located at 245 North 100 East which wel bought in 1988, was builti in 1910 by the fifth mayor of Bountiful, Amos Cook. Our office, located at 94 North 100 West which we purchased in 2003, was built in 1917and is commonly referred to as the Holbrook home. Iti is currently zoned Professional Office and is used for We have a deep appreciation for these historic properties and have renovated and  our home design business Hearthstone Design.  maintained them accordingly. Current Situation:  We recently became aware that the property to the east of, and adjacent to, our office has been purchased by the city for the purpose of creating additional downtown parking. We've also heard that there is a desire by some to save and restore the house located on Iunderstand that the home was built in 1903 and was the one-time residence off former  thel North West corner oft the property.  Utah Governor and Bountiful Mayor Charles R. Mabey.  Proposal:  In order to: maximize the available parking area and still preserve the home we are proposing that we be allowed toj purchase the existing home and ai minimum amount of the surrounding property, perhaps an additional 10 or SO of property to the east and south ofthe structure. Since the new parcel would bej prohibitively small we are proposing to incorporate it into our existing property located directly to the west. Our intention would be to: restore the existing structure for use as additional office space. Wej plan to begin the restoration process immediately following the finalization oft the purchase. Proposed improvements include roof repair, restoration ofthe exterior, renovation oftl the interior (flooring, electrical, plumbing, painting...) and landscaping. Weather permitting, we hope to have renovations completed within a few: months. Wel look forward to determining a final purchase price with the city. Based on our preliminary calculations, however, we would bei interested in approximately 21% oft the total property or 4,260 square feet. We understand that the appraised value oft the land is $300,000 making 21% somewhere in the $63,000 range. According to the appraisal the existing improvements do not offer any contribution above the improved site value as if    vacant. We would also like to maximize the funds available for the necessary site  improvements, which are significant.  Benefits:  The location of our parcel makes it ideal for subdividing and incorporating the smallest possible amount of city owned land into an existing adjacent property. (See Concept Plan.) This would allow the maximum amount ofr remaining area to be used as parking. Our financial situation will allow us to make the purchase and most, ifi not all, oft the restoration using our cash reserves. We are currently both personally and professionally completely debt free. Hearthstone Design is in it's 25th year of operation and continues to Finally, our history ofowning, restoring, and maintaining historic Bountiful properties demonstrates our commitment to the city and our immediate community. Over the years we have received a great deal of positive feedback on the appearance oft the properties we currently own. We are excited about the possibility oft treating this home in a similar  be ai reliable source ofincome.  manner. Summary:  We feel this proposal would be beneficial to all interested parties. The city would be able to move forward with the plan for additional much-needed parking. Desirable office space would be created while preserving the historically significant home. We appreciate your attention in the matter and look forward to discussing this further.  Feel free to contact us with any questions or concerns.  Michael Crouch (801)884-9679 Kristan Crouch (801)573-5133 Christopher Crouch (801)891-8306    CROUCH HOUSE  ntiloebeay  HEARTHSTONE DESIGN    E  PROXIMITY OF PROPERTIES    IS ISEM 001  a a E  TITT -  J