HomeMy WebLinkAbout1995.0207.TCWSM.Minutes TOWN OF FOUNTAIN HILLS
MINUTES OF THE WORK/STUDY SESSION OF THE
FOUNTAIN HILLS TOWN COUNCIL
FEBRUARY 7, 1995
A public meeting of the Fountain Hills Town Council was convened and called to order by Mayor Cutillo at 6:30
P.M.,Tuesday,February 7, 1995,in the Fountain Hills Town Hall Council Chambers,located at 16836 E.Palisades
Blvd., Building C, Fountain Hills, Arizona.
ROLL CALL-Present for roll call were the following members of the Fountain Hills Town Council: Mayor John
Cutillo, Vice Mayor Wally Hudson, and Councilmembers Don Lawrence,Peg Tibbetts,Frank Clark, Bill O'Brien
and Marianne Wiggishoff. Also present were Town Manager Paul Nordin and Town Attorney Bill
AGENDA ITEM 2-STAFF REPORT ON NEGOTIATIONS TO DATE REGARDING THE FORMATION
OF THE EAGLE MOUNTAIN COMMUNITY FACILITIES DISTRICT INCLUDING FUTURE TIME
SCHEDULES.
Town Manager Nordin reported that after recent negotiations, verbal agreements had been reached with the Denro
Group regarding the formation of the Community Facilities District,the conditions of the Development Agreement
and the Guaranteed Investment Contract.
Attorney Farrell referred to the list of 13 issues which had been negotiated from a January 25, 1995 memorandum.
The parcel adjacent to the golf course,excluding the tee areas,fairways and greens,and the multi-use parcel
would be part of the Community Facilities District and would be subject to taxes.
The funding of the CH) would not include a 300 tax for operations and maintenance. The developer said
that their agreements with other developers and users stated there were to be no charges for O/M,only the
$3.00 bond service tax amount. The developer would be responsible for operations and maintenance costs.
When the tax collections exceed $598,000 and the assessed value indicates that that amount could be
collected, the next year 100% of the GIC would be released.
Land cost issues were removed from consideration by the developer.
The golf course should be completed by the time the Cr'1) would commence.
The GIC contract negotiations resulted in an agreement that the funds would not be returned to the
developer until the Town is assured that 100% of the debt(both principal and interest) would be collected
thru taxes, not levied by assessments.
The District Engineer (Willdan) would approve the off-site improvement costs and the Town Engineer
would be responsible for the inspection process. The developer agreed to our interpretations regarding
competitive bidding statutes.
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Costs increases,change orders,concerns of land ownership,liens,title company documents and reports for
Phase I environmental work were other items of negotiation.
r The "B" bonds would be used to pay professional expenses and the costs incurred by both the developer
and the CFD.
The development agreement between the CFD and Eagle Mountain,L.L.C. would be a separate agreement
from the IGA between the CFD, the Town and the Sanitary District.
Attorney Farrell recommended approval of the first resolution establishing the formation of a Community Services
District for the next Council meeting,February 16, 1995.
Mr. Nordin stated that after the Council had passed the first resolution and had issued the bonds, the Council's
obligation would be completed. This would be included in a development agreement.
AGENDA ITEM 3-PRESENTATION BY THE DENRO GROUP ON THE EAGLE MOUNTAIN PROJECT
INCLUDING QUESTIONS AND ANSWERS REGARDING THE COMMUNITY FACILITIES DISTRICTS.
Mark Voight,Executive Vice President of Denro, Inc. was in attendance and introduced other officers and counsel
from his organization. He expressed his appreciation to the Town regarding the efforts during negotiation of issues
for the formation of a Community Facilities District. He was enthusiastic about the golf course project and the
development of Eagle Mountain as being a 'proud entry' into Fountain Hills. He reported that significant interest
had already begun concerning development of the Eagle Mountain. Informational signs would be posted at the
overlook area for persons desiring to contact the developer. He presented pictures and described the golf course
areas.
AGENDA ITEM 4 - ADJOURNMENT.
The Mayor adjourned the meeting at 7:15 P.M.
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(1;4110,
TOWN OF FOUNTAIN HILLS
By:
Jo . Cutillo, Mayor
ATTEST: C
Cassie B. Hansen, Town Clerk
PREPARED BY: ter( 'i : ,,.. „
Linda D. Lemmen, Administrative Assistant
CERTIFICATION
I hereby certify that the foregoing minutes are a true and correct copy of the minutes of the Work/Study Session
Meeting held by the Town Council of Fountain Hills on the 7th day of February, 1995. I further certify that the
meeting was duly called and that a quorum was present.
DATED this 16th day of February, 1995.
NAIL- 43 kilt1144.‘—)
Cassie B. Hansen, Town Clerk
Minutes of the Work/Study Session of the Town Council 02/07/95
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