Council amends Grand Junction EDA maps, creates Ambrose allocation area and hears Ambrose bond introduction

The Westfield City Council adopted Resolution 25-111 to amend the Grand Junction Economic Development Area (EDA), adding select parcels to allow River District licensing and creating a new allocation area for the Ambrose project. The council also heard an introduction of a bond ordinance tied to the Ambrose development; the bond ordinance was presented as an introduction only and no council vote was taken on it.

Janelle Fairman, director of economic development, showed maps that add several properties in the Grand Park and downtown Riverfront areas to the EDA. She said the primary immediate purpose is to allow certain businesses inside the River District to apply for River District alcohol permits, since such permits require the business also be inside an EDA. "This gives an opportunity for current commercial properties or potential properties, that could become commercial, to apply for these alcohol permits," Fairman said.

Fairman said staff removed a small set of parcels north of 170th Street from the version that will go to the RDC confirmatory resolution because they are likely to remain residential rather than commercial. The amendment also creates a new allocation area for the Ambrose project (referred to as Ambers on Main in the presentation) so bonds issued for that project can be tied to that allocation area.

Brad Bingham of Barnes & Thornburg explained a technical change to the EDA's expiration date language. He said current law allows the 25-year TIF allocation period to run from the date the first obligation is incurred (rather than from a fixed date), and the amendment aligns the Grand Junction allocation area with that statutory provision. "What really we're trying to do now is to amend the expiration date of the Grand Junction allocation area to be what the law says it can be today, which is 25 years from the date the first obligation is incurred," Bingham said.

Ambrose project and bond introduction: City staff described Ambrose (Rebar Development's Ambers on Main) as an estimated $26.2 million private investment for an 87-unit multifamily development with about 13,000 square feet of commercial space along State Road 32 and about 245 surface parking spaces. The city plans to purchase right-of-way to build Penn Street adjacent to the project; staff said the developer agreed to a developer-backed bond structure so the city has no direct recourse on the bonds. Janelle Fairman summarized the project: "Rebar Development has proposed Ambers on Main, an estimated investment for this project of 26,200,000.0. This is at the Northeast corner of E Street and State Road 32. It is an 87 multi family unit apartment development with 2,000 square feet of rooftop amenity."

Motion and vote: Councillor Victor McCarty moved approval of Resolution 25-111; Councillor Joe Depner seconded. Roll call recorded six yes votes and one councilor (Chad Huff) absent from the final vote; the clerk noted Huff had left the meeting. The motion carried (recorded as 6-0). The Ambrose bond ordinance (introduction of Ordinance 25-12) was presented for introduction only; no council action was taken on the ordinance at this meeting.

Next steps: The EDA changes will proceed to the Redevelopment Commission confirmatory resolution and related public hearings as required. Staff said further EDA adjustments or allocation-area additions are possible as development and annexations continue in the Grand Junction area.