HomeMy WebLinkAboutCRC-2014-01 Excess Parking Revenue RESOLUTION NO. a 0 I "
RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION
CARMEL.INDIANA
WHEREAS, on or about December 28, 2010, the Cannel Redevelopment Commission ("CRC")
and The Center for the Performing Arts ("Center"), entered into a certain event parking agreement
("Parking Agreement")pursuant to which the Center agreed to charge and collect certain ticket surcharge
and valet parking revenue("Parking Revenue")on behalf of the CRC; and
WHEREAS, on or about December 28, 2010, the Carmel City Center Community Development
Corporation("4CDC")obtained a loan from Lake City Bank("Loan"),the latter making it a condition of
the Loan that the CRC and the Center enter into the Parking Agreement to ensure that monies existed to
pay off the Loan;and
WHEREAS, in.2012, pursuant to the Parking Agreement, the CRC received Parking. Revenue
from the Center in the amount of$173,860.62; and
WHEREAS,on or about December 27,2012,4CDC paid off the Loan; and
WHEREAS, on or about January 1, 2013, the CRC and the Center terminated the Parking
Agreement,which was no longer necessary because the Loan which required it had been fully paid; and
WHEREAS, there exists an estimated $29,464.38 in 2012 Parking Revenue yet to be paid to the
CRC by the Center("Excess Parking Revenue");and
WHEREAS, it would impose an unnecessary administrative burden on the Center to pay this
Excess Parking Revenue to the CRC, and the same is no longer needed to ensure payment of the Loan,
but can be used by the Center to help it provide quality artistic performances to the Cannel community.
NOW,THEREFORE,the CRC resolves as follows:
1.The foregoing Recitals are incorporated herein by this reference.
2. The Excess Parking Revenue and owing to the CRC from the Center pursuant to the terms of
the now-terminated Parking Agreement should be and the same is hereby forgiven in its entirety and shall
not be collected by or for the CRC.
3.This Resolution shall take effect immediately upon its adoption.
SO RESOLVED this I9fti day of Gbrvak-y. ,2014.
This Resolution was prepared by Douglas C. Haney, Carmel City Attorney,on 01/23/2014 at 4:37 p.m.No
subsequent revision to this Resolution has been reviewed by Mr.Haney for legal sufficiency or otherwise.
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CARMEL REDEVELOPMENT COMMISSION
BY: /j 1 tgeititalip
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William H er P esi ent
Date: 11
1) 00 P-6a)„_
David C.Bo��er Vice President
Date: f 1 t 1 L if
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Bradley F.Meyer, Secretary
Date:
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Carrie Meyer,Member U
Date: 2.(11 1 /1
Gregory Phillips,Member
Date:
Jeff Worrell,Member
Date:
CRC Resolution No. 2 01 L- I
Page Two of Two Pages
This Resolution was prepared by Douglas C. Haney, Carmel City Attorney,on 01/23/2014 at 4:37 p.m.No
subsequent revision to this Resolution has been reviewed by Mr. Haney for legal sufficiency or otherwise.
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