Church Street Marketplace Commission Meeting DRAFT MINUTES ...
Church Street Marketplace Commission Meeting DRAFT MINUTES Wednesday, December 15, 2010 Church Street Marketplace Office ATTENDING COMMISSIONERS: Lara Allen, Celia Daly, Eli Lesser-Goldsmith, Jeff Nick, Buddy Singh, Dan Smith and Lorre Tucker Absent: Dan Latcheran and Robert Fuller. VISITORS: Kelly Device (BBA), Marian Fritz (Grandview Farms), Karen Paul (Burlington City Council), Sherry Prehoda (JMM & Assoc.), Sandrine Thibault (Planning & Zoning) and David White (Planning & Zoning). STAFF: Becky Cassidy, Mimi Gutchell, Adna Karabegovic, Ron Redmond and Pat Rideout I. MEETING CALLED TO ORDER 8:05 a.m. II. AGENDA Agenda was distributed. III. MINUTES Meeting minutes for October 20, 2010 were approved. Motion: Dan Smith Second: Lorre Tucker Meeting minutes for November 17, 2010 were approved. Motion: Lorre Tucker Second: Celia Daly IV. PUBLIC FORUM No one present V. CHAIR’S REPORT A. Presentation by Sherry Prehoda (JMM Associates) and Marian Fritz (Grandview Farms) of the Church Street Marketplace Foundation, Ltd., a 501(c)(3) non-profit organization modeled after Queen City Police Foundation and Burlington City Arts Foundation, Inc. In 2003, the Marketplace was awarded $2.5 million in federal transportation dollars (called SAFETEA-LU); the foundation was created to help meet the federal requirement for a 20% match (up to $500,000). Created in 2004 in response to the awarding of SAFETEA-LU Funds for the Marketplace, the Foundation’s mission is to provide funding for capital improvements for the Church Street Marketplace not available from the City of Burlington. The foundation is not connected with the City of Burlington; Burlington City Arts and the Burlington Police Department have also created 501(c)(3)’s not connected to their respective departments, with similar missions. Jeff Davis has been the primary donor ($50K donated over five years); his donation was announced publicly at the 2005 BBA annual meeting and was covered by the news media. Foundation Board members are Tim Halvorson (Chair), Jeff Nick (Vice Chair) and Gene Richards (Treasurer). Frank Bouchett and Joe Carton are members of the board. Ron is an ex-officio member of the foundation and serves as its administrator. RON provided an overview of the Church Street Marketplace Gift Card Program. Financial accounts for the gift card program rest with the foundation, currently. B. HISTORY OF CHURCH STREET & DOWNTOWN GIFT CERTIFICATE / GIFT CARD PROGRAMS 1980s: Church Street Marketplace creates program in 1980s. Accepted by downtown stores and restaurants. Private checking account (Chittenden). Commission members were signators. Sold certificates out of Marketplace office Page 1 of 4
2001: Marketplace staff closes program Staffing cuts limit Marketplace’s ability to effectively administer program. Marketplace office moves from “front room” to “back room” operation. 2002:
Burlington Town Center introduces “Downtown Burlington” gift certificates Managed by BB&T, financial holding company in Winston Salem, NC Accepted by downtown stores and restaurants. Burlington Town Center offers longer hours, better service for gift certificate sales, shoulders the costs of sales.
2005: General Growth Properties, new Burlington Town Center owner, replaces certificates with “GGP” Gift Cards. 2010: In anticipation of passage of Card Act, GGP ends gift card sales in Vermont in October, 2010. November, 2010, Marketplace launches VISA gift card program (through BB&T). Sold at Homeport, 52 Church Street. Foundation chosen as temporary depository because of 30-day window before 2009 Christmas Season. Gift Card Act If state law more restrictive than federal law, state law applies. In Vermont, state law IS more restrictive. Therefore: In Vermont, gift cards are not subject to bank service fees. The per card $3 fee the Church Street Marketplace charges is designed to cover the cost of charges per card by BB&T. In Vermont, this fee can never be more than 10% of the face value of the card. In Vermont, the “load fee” (meaning, what the bank charges us per card sold) is based on the annual average value of cards sold. BB&T takes our quarterly sales, divided by the number of cards activated, to acquire an “average face value.” For the 4th quarter of 2010, for example, the average of cards sold was $54.98. So, the fee charged by BB&T to Church Street Marketplace Foundation is $1.90/card. Average Per Card Loaded Value 0.00 to 39.99 40.00 to 49.99 50.00 to 59.99 60.00 to 69.99 80.0 o 79.99 80.00 to 89.99 90.00 to greater
Load Fee Payable by Agent (Church Street $2.50 $2.15 $1.90 $1.75 $1.65 $1.55 $1.50
Cards will expire 7 years from the date of the card’s manufacture. After the seven year period, any funds remaining on the card are escheated to the State of Georgia. (per VISA’s agreement)
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The City is currently not interested in taking on the program; a new home for the program will be sought, and both the BBA and Lake Champlain Chamber will be approached. There will be additional discussion re: the foundation at the Febraury, 2011 meeting including understanding the foundation’s mission, future home for the gift card program and the need for the foundation to set quarterly meeting dates. C. 2010 for Downtown/Waterfront Plan and the HUD Community Challenge Planning Grant: David White and Sandrine Thibault presented. The City of Burlington will be awarded $286,750. Burlington will refine broad community goals for sustainable development into focused and actionable development strategies for the downtown and waterfront areas with a district master plan and form-based code. The planning process will emphasize community consensus-building on the scale, pattern and type of future development and as well as preservation of historic and cultural features. The planning effort will examine promoting transit with a comprehensive area parking allocation and management system, and build upon the Complete Streets system and Street Design Guidelines which are included in the Citywide Transportation Plan. The City will undertake an extensive existing conditions analysis to inform the process develop an implementation plan. These elements will be combined to form a Master Plan and inform the development of a form-based code. The project includes a plan to measure progress across a variety of metrics including travel changes, housing affordability, private reinvestment and environmental benefits. The grant offers Burlington and the region an unprecedented opportunity to promote economic vitality, quality of life, sustainable practices, and a variety of housing options within a regional planning framework. VI. EXECUTIVE DIRECTOR’S REPORT A. Safety and Security Update – Monthly “Safety Rendezvous”: These monthly meetings, held held first Wednesday of every month at 9:00 am, are well attended. RON and KELLY spoke of need to form a coalition of downtown stakeholders (a diverse representation from residents, non-profit, private and public sectors) to support annual downtown safety/security plan and programs. B. Update – Marketplace Parking Garage & Downtown Improvement District Parking Assessment: DPW has added security to their staff. Pat Buteau and Steve Goodkind will be invited to February agenda to present financial and operational update on 2 Hours Free Program and municipal parking garages. DAN-S suggested any complaints we receive regarding DPW items, should be circulated with Marketplace Commissioners and DPW. VII. COMMITTEES A. Finance: BUDDY presented a break-down of expenses and revenues for FY 10 to explain $49K deficit. FY 10 OVERVIEW OF EXPENSES & REVENUES Over Budget FY 10 EXPENSES: Over Budget: -49,208
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Capital Improvements - 63990
Maintenance 75740 Operating Transfer Maintenance 65990 Other Contractual Service
One Church Street electrical circuit: total cost inadvertently charged versus 5-year payment plan @ 3K/year. Corrected with Treasurer's office Casting & Installation Expenses: Polich Tallix, Hoyle Tanner, CEDO, Wright & Morrissey
$15,625
Invoices paid inadvertently from Operating Budget. Foundation has reimbursed CSM operating budget. Corrected.
$12,163
FY 10 REVENUES: Administration - 44037 Administration - 44002
Promotion 44029 Administration - 43550
B. C.
D. E.
Common Area Fees - Reflects amount that remained uncollected as of end of FY 10 Rent & Lease (City-owned spaces managed by Marketplace were vacant longer than expected in FY 10. New tenants are WHIM & Bluebird Coffee) Banner Revenues in FY 10 down by $1,500 Sidewalk Café Revenues - Higher than originally projected
$15,519
Under Budget -4,409
Over Budget
-8,553
-1,500 5,150
Does not anticipate any hits in the upcoming year. Reimbursement on miscellaneous items by the City looking good. In the process of finalizing FY 12 budget. Capital Improvements: Commission discussed staff’s snow removal strategy. Merchant & Marketing: Discussions re: 2011 Fashion Show. For January meeting, ELI requested review of Marketing & Promotion Plan and presentation by a marketing expert. Commissioners discussed need for quarterly review meetings – ex. discuss Christmas in July. Municipal Relations / Futures: Ron and Buddy to meet with Scott Schrader, Treasurer’s office. Organized Chaos: No report
MISCELLANEOUS The Church Street Marketplace Social will be held Thursday, January 20, 2011, at Red Square. Next Commission meeting will be Wednesday, January 19th, from 8:00am to 1:00pm – Location to be determined Meeting adjourned: 10:10am
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2001: Marketplace staff closes program Staffing cuts limit Marketplace’s ability to effectively administer program. Marketplace office moves from “front room” to “back room” operation. 2002:
Burlington Town Center introduces “Downtown Burlington” gift certificates Managed by BB&T, financial holding company in Winston Salem, NC Accepted by downtown stores and restaurants. Burlington Town Center offers longer hours, better service for gift certificate sales, shoulders the costs of sales.
2005: General Growth Properties, new Burlington Town Center owner, replaces certificates with “GGP” Gift Cards. 2010: In anticipation of passage of Card Act, GGP ends gift card sales in Vermont in October, 2010. November, 2010, Marketplace launches VISA gift card program (through BB&T). Sold at Homeport, 52 Church Street. Foundation chosen as temporary depository because of 30-day window before 2009 Christmas Season. Gift Card Act If state law more restrictive than federal law, state law applies. In Vermont, state law IS more restrictive. Therefore: In Vermont, gift cards are not subject to bank service fees. The per card $3 fee the Church Street Marketplace charges is designed to cover the cost of charges per card by BB&T. In Vermont, this fee can never be more than 10% of the face value of the card. In Vermont, the “load fee” (meaning, what the bank charges us per card sold) is based on the annual average value of cards sold. BB&T takes our quarterly sales, divided by the number of cards activated, to acquire an “average face value.” For the 4th quarter of 2010, for example, the average of cards sold was $54.98. So, the fee charged by BB&T to Church Street Marketplace Foundation is $1.90/card. Average Per Card Loaded Value 0.00 to 39.99 40.00 to 49.99 50.00 to 59.99 60.00 to 69.99 80.0 o 79.99 80.00 to 89.99 90.00 to greater
Load Fee Payable by Agent (Church Street $2.50 $2.15 $1.90 $1.75 $1.65 $1.55 $1.50
Cards will expire 7 years from the date of the card’s manufacture. After the seven year period, any funds remaining on the card are escheated to the State of Georgia. (per VISA’s agreement)
Page 2 of 4
The City is currently not interested in taking on the program; a new home for the program will be sought, and both the BBA and Lake Champlain Chamber will be approached. There will be additional discussion re: the foundation at the Febraury, 2011 meeting including understanding the foundation’s mission, future home for the gift card program and the need for the foundation to set quarterly meeting dates. C. 2010 for Downtown/Waterfront Plan and the HUD Community Challenge Planning Grant: David White and Sandrine Thibault presented. The City of Burlington will be awarded $286,750. Burlington will refine broad community goals for sustainable development into focused and actionable development strategies for the downtown and waterfront areas with a district master plan and form-based code. The planning process will emphasize community consensus-building on the scale, pattern and type of future development and as well as preservation of historic and cultural features. The planning effort will examine promoting transit with a comprehensive area parking allocation and management system, and build upon the Complete Streets system and Street Design Guidelines which are included in the Citywide Transportation Plan. The City will undertake an extensive existing conditions analysis to inform the process develop an implementation plan. These elements will be combined to form a Master Plan and inform the development of a form-based code. The project includes a plan to measure progress across a variety of metrics including travel changes, housing affordability, private reinvestment and environmental benefits. The grant offers Burlington and the region an unprecedented opportunity to promote economic vitality, quality of life, sustainable practices, and a variety of housing options within a regional planning framework. VI. EXECUTIVE DIRECTOR’S REPORT A. Safety and Security Update – Monthly “Safety Rendezvous”: These monthly meetings, held held first Wednesday of every month at 9:00 am, are well attended. RON and KELLY spoke of need to form a coalition of downtown stakeholders (a diverse representation from residents, non-profit, private and public sectors) to support annual downtown safety/security plan and programs. B. Update – Marketplace Parking Garage & Downtown Improvement District Parking Assessment: DPW has added security to their staff. Pat Buteau and Steve Goodkind will be invited to February agenda to present financial and operational update on 2 Hours Free Program and municipal parking garages. DAN-S suggested any complaints we receive regarding DPW items, should be circulated with Marketplace Commissioners and DPW. VII. COMMITTEES A. Finance: BUDDY presented a break-down of expenses and revenues for FY 10 to explain $49K deficit. FY 10 OVERVIEW OF EXPENSES & REVENUES Over Budget FY 10 EXPENSES: Over Budget: -49,208
Page 3 of 4
Capital Improvements - 63990
Maintenance 75740 Operating Transfer Maintenance 65990 Other Contractual Service
One Church Street electrical circuit: total cost inadvertently charged versus 5-year payment plan @ 3K/year. Corrected with Treasurer's office Casting & Installation Expenses: Polich Tallix, Hoyle Tanner, CEDO, Wright & Morrissey
$15,625
Invoices paid inadvertently from Operating Budget. Foundation has reimbursed CSM operating budget. Corrected.
$12,163
FY 10 REVENUES: Administration - 44037 Administration - 44002
Promotion 44029 Administration - 43550
B. C.
D. E.
Common Area Fees - Reflects amount that remained uncollected as of end of FY 10 Rent & Lease (City-owned spaces managed by Marketplace were vacant longer than expected in FY 10. New tenants are WHIM & Bluebird Coffee) Banner Revenues in FY 10 down by $1,500 Sidewalk Café Revenues - Higher than originally projected
$15,519
Under Budget -4,409
Over Budget
-8,553
-1,500 5,150
Does not anticipate any hits in the upcoming year. Reimbursement on miscellaneous items by the City looking good. In the process of finalizing FY 12 budget. Capital Improvements: Commission discussed staff’s snow removal strategy. Merchant & Marketing: Discussions re: 2011 Fashion Show. For January meeting, ELI requested review of Marketing & Promotion Plan and presentation by a marketing expert. Commissioners discussed need for quarterly review meetings – ex. discuss Christmas in July. Municipal Relations / Futures: Ron and Buddy to meet with Scott Schrader, Treasurer’s office. Organized Chaos: No report
MISCELLANEOUS The Church Street Marketplace Social will be held Thursday, January 20, 2011, at Red Square. Next Commission meeting will be Wednesday, January 19th, from 8:00am to 1:00pm – Location to be determined Meeting adjourned: 10:10am
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