The Nederland Downtown Development Authority (NDDA) met on Wednesday, November 9, 2022, at 6 p.m. to discuss funding for the paving of the Visitors Center parking lot, as well as funding for repairs of the Nederland Pedestrian Bridge.

Executive Director Kate Masingale presented to the NDDA the need to access $139,000 to fund the paving of North Jefferson Street and the Visitors Center parking lot. The paving project was approved by the NDDA in February, 2019 and the funds for the project are needed for the 2023 budget.

Board Members were in favor of the project though there were concerns raised that the original site map for the project shows a loss of parking spaces due to the paving and construction of sidewalks. Town Administrator Miranda Fisher and the NDDA agreed to revisit the matter of the paving project as a discussion item at a future meeting in order for Town Staff to provide more information on the project.

Masingale also presented to Board Members information regarding funds provided by the NDDA to the Frozen Dead Guy Days (FDGD) festival organizers. The funds for the 2022 festival were expended on the costs requested in their grant application.

It was confirmed that unpaid bills from the 2022 FDGD event are not hindering either the Town of Nederland or the NDDA’s ability to hire traffic flagging services for other such events. Though the organizers of FDGD have confirmed that there will not be a festival this year, the official agenda information memorandum (AIM) from the NDDA stated that they are open to future conversation.

Parks Manager Nicki Dunn presented to the NDDA a discussion concerning funding for much needed repairs on the roof, entryways, and overall structure of the Nederland Pedestrian Bridge. The covered bridge has not had any maintenance repairs since being built in 1988 and requires assessment by a structural engineer.

Dunn had acquired contractor quotes for the roof repairs ranging from $6,000 to $14,950, and on the siding structure repairs (which also includes ten new custom built planter boxes) at $15,333. Dunn is also hopeful to hire a general contractor who could do both projects at once.

The NDDA discussed the scope of the project and the challenges involved with construction over the creek, such as falling debris from removing the current roof shingles. The NDDA already approved $20,000 to be allotted to this project in their 2023 budget, and Dunn is asking for an additional $10,000 for the covered bridge repairs.

The NDDA was generally in favor of funding the project though some Board Members expressed that they wished the Town of Nederland would assist financially with the project. A motion to make the matter of funding the covered bridge repair project an action item was made, then seconded and approved. Board Members then voted unanimously to approve funding the project by a total of $30,000, with an amendment that the Town of Nederland agree to maintain the covered bridge for a minimum of 30 years.

Masingale led the NDDA in a discussion regarding updates to be made to their grant funding application. The updates include ensuring the inclusion of the NDDA logo on all sponsor communication, requiring a final report of fund spending from the applicant, all grants being made on a reimbursement basis, encouraging funding to be sought for two weeks prior to the applicants’ event, allowance of requests for direct payments to vendors, and the provision of invoices and check copies before being granted funding.

The NDDA discussed issues of liability, in reference to insurance coverage of third-party vendors hired through the grant applicant, and how to include such language of clearing the Town from liability in the grant application.

A motion was made to turn the matter of updating the grant application into an action item and the motion was seconded and passed. A motion was made to approve the updates to the grant funding request application with an amendment that dual payee checks can be requested by the NDDA for vendors. The motion was seconded and passed unanimously.

NDDA Treasurer Ron Mitchell delivered a proposal to increase the town’s Certificate of Deposit by $250,000, increasing the line of credit to $500,000. The CD interest rate received would be 0.75% and the interest rate paid on the line of credit would be 6.5%, according to the Wall Street Journal daily published prime rate. The proposal was approved by the Board of Trustees (BOT) on October 18, 2022, as per the NDDA’s recommendation; the matter of increasing the CD has been drafted into a resolution that must be approved by the NDDA before beginning the process with Sunflower bank.

Board Member Scott Papich was not in favor of passing the resolution due to the language in the resolution being unclear as to whether or not there is a cost to the Town for increasing the CD. The resolution states “the cost of the Line of Credit will be 1% of the total line or $1,500”.

Mitchell made a motion to approve the resolution with an amendment to add language that the cost should not exceed the $1,500 which has already been paid for opening the initial line of credit. However, Board Members were not comfortable with approving the resolution as written as the “ambiguous” language in the resolution gave no assurance that an additional cost would not be charged to the town.

It was clarified that there would be a cost for opening the second line of credit, which was not clear by either the NDDA or the BOT until being discussed on November 9, 2022. It was still not clear whether the cost would be $1,500 or if it would be 1% of the final line, which totals $5,000.

Vice Chair Andrew Dewart made a motion to approve the resolution with the contingency that the inevitable cost to Town for opening the second line of credit would not exceed $1,500. The motion was seconded and passed, with Mitchell committing to getting clear information from Sunflower bank concerning the true cost to the town for opening the second line of credit and sharing that information with the NDDA.

Masingale addressed the NDDA with a request for $200 for beverages and treats to be served at this year’s annual Christmas Lighting Event, which the NDDA approved unanimously.

The Nederland Downtown Development Authority meets the second Wednesday of every month. The next meeting will be on Wednesday, December 14, 2022, starting at 6 p.m., and will be held online as well as in person at the Nederland Community Center. For more information go to: https://townofnederland.colorado.gov/ government/boards-and-commissions/ downtown-development-authority