Amends an intergovernmental agreement with the Regional Transportation District (RTD) for the Fastracks East Corridor to fund the maximum amount of $12,189,520 for the design and construction of the light rail station located at 61st and Peña Boulevard in Council District 11  (AR0A001-2). (BUSINESS DEVELOPMENT) Amends an intergovernmental agreement with the Regional Transportation District (RTD) for the Fastracks East Corridor to fund the maximum amount of $12,189,520 for the design and construction of the light rail station located at 61st and Peña Boulevard in Council District 11 (AR0A001-2). The last regularly scheduled Council meeting within the 30-day review period is on    .  The Committee approved filing this bill at its meeting 4-28-15.
But then Council Bill 260 speaks to 35 million. And so I'm trying to understand what the total cost is on this project. It looks like the city via DIA is up fronting $17 million. Is that accurate? At least that's what I'm accountable to. 60 is saying. So, Stuart, are you the point guy or. Dan, would you mind coming forward and answering my questions? Council president and council members updated Perryman, the senior vice president of development at DIA. And to answer the specific question on cost, the total cost for phase one of the Penn Station Toad Project is 58.7 million, and DIA is contributing 38.14 million. The neighbors are contributing about 20.5 million neighbors. Meaning? You said the neighbors. The neighbors. You may remember that breakfast at this 400 acre Todd project in addition to these 60 acres. There's actually three other landowners of the fallen water company. Elsie Fuller Minor owns about 150 acres. They are the lead developer. Ferd Belz is here tonight representing Fuller Weiner. There's also the Smith estate, which owns an additional 150 acres. And there's a smaller piece, the same tea parcel. That's about 20 acres. There's also about 38 acres of open space. So these four owners have come together and process this Todd transportation oriented development plan over the last several years with a number of related agreements through council and have worked out now over the last couple years this plan of financing development for the Phase one infrastructure, as well as the Penn Boulevard East Line Station at this location and the connecting infrastructure and station together totaled a 58.7 million of which DIA is contributing 38.14 million upfront. Two things to remember. One is that DIA is projected to be completely repaid for that investment through metro district levies that are assessed on the neighbors property that I mentioned. And over 40 years, it's projected that we will be returned about $41 million, actually $42 million in total reimbursement. The other thing that's really important to remember is that this opens up for DIA a consistent and rather large non airline revenue stream that totals we're projecting somewhere between hundred. Let me just check my figures on that, between 132 and $194 million over a 40 year period. So we're actually projecting that the DIA investment of 38.1 million is repaid within a period of about 15 years. So to answer your your part of your question, which was within the financing concepts, the reimbursement that comes through the Metro District, repayments on the neighbors property, we actually those those are tied to specific interest rates against specific dollar amounts that are just portions of the total investment that was really done for financing purposes. But those two reimbursement amounts are 35.6 million and 6 million. And those total, the 41.6 million that's being reimbursed to DIA over time through these MIL levy reimbursement mechanisms. So then can you just clarify, you spoke to this being the first phase. So what entails any additional phases that will include additional cost to the city, whether it's from DIA or somewhere else within the city? The the phase one infrastructure as well as the station costs or the the lion's share or the great majority of the total development cost for this TOD. But there are some future phases that pertain to the installation, primarily of streets that go into expanding the development sites. At DIA's projected future phase, investments are in the range of about $6 million today. Which is the 6 million you just talked about. It's not directly tied to that, but we are projecting a future contribution required from DIA of $6 million, and that's generally generally related to installation of street cost. And again, that's strictly DIA cost, not not city of Denver General Fund. Okay. So the total cost then, is it 58.7? That is strictly for the phase one of this project, which as I mentioned, is the lion's share of the infrastructure. There will be minor costs, additional costs over time, but we anticipate that those will be a number of years into the future. Thank you. I appreciate you explaining all of that. I know you came to committee and sometimes, you know, the way the details are presented don't always give that full picture. So I needed to understand that as we're. Looking at all of these different bills before us tonight. So I appreciate. You're welcome. This is a complicated package with five agreements. And we were working on the closing today and we figured we can add up that there are actually 50 to 60 separate agreements and supporting documents that actually will be needed to support the final closing. And if you could just clarify one last thing. This is where Panasonic will be as well, correct? Yes. And these are the infrastructure costs that are necessary to make their site developable and they will actually be breaking ground on their side projected in October of this year. Great. Thank you. Thank you, Mr. President. All right. Thank you, Councilman Ortega. All right, we have one more, I believe, Madam Secretary, you want to tee that one up to 68, call up a member's thoughts and assessment? Let me first go to Councilman Ford. What did you want for us to do with that? I have some questions. Okay. And let me see. Councilwoman? Well, Councilman Brooks is chimed in to Councilwoman Sussman. Did you have questions or did you want to call for a vote? What did you want to do? I have some questions. Questions, will councilman. All questions. All right. We'll start it up, Councilwoman Fox. Thank you, Mr. President. First of all, the title of this ordinance concerns the sale of tobacco products. So that's the topic that we're talking about and and safety committee. We went down we were we heard testimony down one road about licensure. This is not a license. Your bill. This, as I understand it, was supposed to be conforming some of the definitions to state law. And so my first question is, is that the case? How does this fit with state law?