The board that oversees the development of the former Amoco Refinery is positioning itself to advertise and attract businesses to the property, its executive director said Tuesday.

Last week, the Amoco Reuse Agreement Joint Powers Board voted to reclassify $3.7 million from its building facilities fund to its economic development fund for what is now known as the Platte River Commons, Alice Kraft said.

"That will be used to market the property," Kraft said.

The Joint Powers Board also signed a letter of intent with Grubb & Ellis-Wyoming to develop a contract and marketing proposal, she said.

Before signing the contract, the board wants Grubb & Ellis to give hard numbers for what its proposal would cost, Kraft said.

The board also wants Grubb & Ellis, which has an office in Wyoming, to set up an office in Casper as part of the agreement, she said.

These actions are a result of the decision by the Citizens for a Civic Auditorium to abandon its plans in September to build a 1,000-seat performing arts center on the site between King Boulevard and the North Platte River. The Joint Powers Board had pledged $7.5 million to the project if the CCA met its goal to raise another $17 million.

The CCA's failure to do so gave the Joint Powers Board the opportunity to rethink its goals, especially since approximately $12.5 million now remains from the $20 million pledged by BP for the development of the site. This money to support the project - including operations and maintenance - during the 99-year lease between BP, the City of Casper and Natrona County.

A $5 million reserve from the $20 million also has come under scrutiny with the proposed development of the Old Yellowstone District east of the Platte River Commons.

In June 2001, the joint powers board passed a resolution setting aside $5 million as a reserve, later adding that 75 percent of that amount may be used to help fund two projects in what is now the Old Yellowstone District.

The board intended the reserve not be spent at all, according to two original members of the Joint Powers Board.

With the Citizens for a Civic Auditorium looking at the Old Yellowstone District for its performance hall, it also has looked to the $5 million reserve for possible funding.

Last week, the Joint Powers Board decided to continue the reserve.

The requirements and use of this fund will be established as funds become available with a deadline of Aug. 1, 2011, according to a memo from the board's financial and marketing committee.

In other matters, the board elected new officers: Jeff Hockin, chairman; Mike Huston, vice chairman; Kent Hambrick, secretary; and Neil Jacquot, treasurer.

Reach Tom Morton at (307) 266-0592, or at Tom.Morton@trib.com.