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Office of the
Clerk-Treasurer COMMON COUNCIL
MEET ING AGENDA
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MONDAY, MAY 5, 2014 - 6:00 P.M.
COUNCIL CHAMBERS/CITY HALL/ONE CIVIC SQUARE
MEETING CALLED TO ORDER
1. INVOCATION
2. PLEDGE OF ALLEGIANCE
3. RECOGNITION OF CITY EMPLOYEES AND OUTSTANDING CITIZENS
4. APPROVAL OF MINUTES
a. April 21, 2014 Regular Meeting
5. RECOGNITION OF PERSONS WHO WISH TO ADDRESS THE COUNCIL
6. COUNCIL, MAYORAL AND CLERK-TREASURER COMMENTS/OBSERVATIONS
7. ACTION ON MAYORAL VETOES
8. CLAIMS
a. Payroll
b. General Claims
c. Retirement
9. COMMITTEE REPORTS
a. Finance, Administration and Rules Committee
b. Land Use, Annexation and Economic Development Committee
c. Parks,Recreation and Arts Committee
d. Utilities, Transportation and Public Safety Committee
e. Report from the Council Appointee to the Redevelopment Commission
ONE CIVIC SQUARE CARMEL,INDIANA 46032 317/571-2414
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10. OLD BUSINESS
a. Thirteenth Reading of Ordinance D-2154-13; An Ordinance of the Common Council of
the City of Carmel, Indiana, Establishing a Department of Storm Water Management and
a Storm Water District, and Adopting and Approving Storm Water User Fees; Sponsor(s):
Councilor(s)Rider and Snyder. Remains in the Utilities, Transportation and Public Safety
Committee (5/1/14).
b. Tenth Reading of Ordinance D-2162-13; An Ordinance of the Common Council of the
City of Carmel, Indiana, Amending Chapter 6, Article 5, Division VII, Section 6-158
(Noise Regulations); Sponsor: Councilor Seidensticker. Remains in the Utilities,
Transportation and Public Safety Committee (5/1/14).
c. Fourth Reading of Ordinance Z-586-14; An Ordinance of the Common Council of the
City of Carmel, Indiana, Amending the Carmel Drive—Range Line Road Overlay Zone in
the Cannel Zoning Ordinance; Sponsor: Councilor Rider.
d. Resolution CC-09-17-12-01; A Resolution of the Common Council of the City of
Carmel, Indiana, Amending the Carmel Clay Comprehensive Plan"C3 Plan 2009"
Regarding the Transportation Plan; Sponsor: Councilor Rider. Remains in the Land Use,
Annexation and Economic Development Committee.
e. Resolution CC-03-17-14-07; A Resolution of the Common Council of the City of
Cannel, Indiana, Regarding Distribution of Monies to be paid to the City of Cannel from
Sale of Real Property(10407 and 10409 Pennsylvania Street); Sponsor: Councilor
Seidensticker. Remains in the Finance,Administration and Rules Committee.
f. Resolution CC-03-17-14-08; A Resolution of the Common Council of the City of
Cannel, Indiana,Regarding Distribution of Monies to be paid to the City of Cannel from
Sale of Real Property(10401 and 10403 Pennsylvania Street); Sponsor: Councilor
Seidensticker. Remains in the Finance, Administration and Rules Committee.
g. Resolution CC-04-21-14-01; A Resolution of the Common Council of the City of
Cannel, Indiana,Disbursing Arts Fund Monies ($681,400); Sponsor(s): Councilor(s)
Carter, Finkam,Rider, Snyder, Sharp and Schleif.
h. Resolution CC-05-05-14-02 (Formerly CC-04-21-14-03); A Resolution of the Common
Council of the City of Cannel, Indiana, Approving Carmel Redevelopment Commission
Additional Services Amendment to Agreement for Purchase of Goods and Services
Contract with Mike Lee (P.O. #31558-Financial and Accounting Services for the CRC
$50,000); Councilor(s): Councilor(s) Snyder and Finkam.
11. PUBLIC HEARINGS
a. First Reading of Ordinance Z-588-14; An Ordinance of the Common Council of the
City of Cannel, Indiana, Amending The Bridges Planned Unit Development District
(Z-550-11); Sponsor: Councilor Rider.
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b. First Reading of Ordinance Z-589-14; An Ordinance of the Common Council of the
City of Carmel, Indiana, Establishing The Bear Creek Planned Unit Development District;
Sponsor: Councilor Sharp.
12. NEW BUSINESS
a. Resolution CC-05-05-14-01; A Resolution of the Common Council of the City of
Carmel, Indiana, Approving Carmel Redevelopment Commission goods and Services
Contract with Calumet Civil Contractors, Inc. (P.O. #31772— Construction of 3rd Avenue
SW Parking Spaces $67,021); Sponsor(s): Councilor(s) Seidensticker, Sharp, Schleif,
Finkam, Snyder, Carter and Rider.
b. Resolution CC-05-05-14-03; A Resolution of the Common Council of the City of
Carmel, Indiana,Approving INDOT Project Coordination Interlocal Agreement
(Bike/Pedestrian Facilities for 136th Street from Keystone Avenue to Gray Road);
Sponsor(s): Councilor(s) Rider and Finkam.
c. Resolution CC-05-05-14-04; A Resolution of the Common Council of the City of
Carmel, Indiana, Approving INDOT Project Coordination Interlocal Agreement
(Bike/Pedestrian Facilities for Main Street from Keystone Avenue to Gray Road);
Sponsor(s): Councilor(s) Rider and Finkam.
d. Resolution CC-05-05-14-05; A Resolution of the Common Council of the City of
Cannel, Indiana, Approving INDOT Local Public Agency Exchange Contract(Road
Construction for Main Street from Illinois Street to Guilford Road); Sponsor(s):
Councilor(s) Rider and Snyder.
13. OTHER BUSINESS
14. ANNOUNCEMENTS
15. EXECUTION OF DOCUMENT
16. ADJOURNMENT
050514 CC Meeting Agenda
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COMMON COUNCIL
MEETING MINUTES
MONDAY, MAY 5, 2014 - 6:00 P.M.
COUNCIL CHAMBERS/CITY HALL/ONE CIVIC SQUARE
MEMBERS PRESENT:
Mayor James Brainard, Council President W. Eric Seidensticker, Council Members Sue Finkam, Carol
Schleif,Richard L. Sharp, Luci Snyder, Ronald E. Carter, Kevin D. Rider, Clerk-Treasurer Diana L.
Cordray and Deputy Clerk Lois Craig.
Mayor Brainard called the meeting to order at 6:00 p.m.
Pastor Shelly Wood, Orchard Park Presbyterian, offered the Invocation.
Mayor Brainard led the Pledge of Allegiance.
RECOGNITION OF CITY EMPLOYEES AND OUTSTANDING CITIZENS:
There were none.
APPROVAL OF MINUTES
Councilor Sharp made a motion to approve minutes from the April 21, 2014 Regular Meeting.
Councilor Rider seconded. There was no Council discussion. Council President Seidensticker called for
the vote. Minutes were approved 7-0.
RECOGNITION OF PERSONS WHO WISH TO ADDRESS THE COUNCIL:
Don Farrell, Artistic Director, Actors Theatre of Indiana, addressed the Council to thank them
for their past support and announced the 10th Anniversary season of the Actors Theatre of
Indiana.
COUNCIL, MAYORAL AND CLERK-TREASURER COMMENTS/OBSERVATIONS:
Councilor Sharp addressed the Council and reminded everyone that Tuesday,May 6th was Election Day
and urged citizens to vote. Councilor Sharp also informed the Council that the Supreme Court recently
ruled that public prayer at municipal government meetings was not in violation of the Constitution.
Councilor Schleif addressed the Council regarding the upcoming Carmel Historic Preservation
Commission and the Carmel Clay Historical Society program"In Your Back Yard"to be held on
Monday, May 12th at 6:00 p.m. at the Carmel Library.
Councilor Snyder addressed the Council regarding the Hamilton County Humane Society.
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Councilor Carter reminded the citizens that the Carmel Farmers Market would be held on every
Saturday thru September 27th from 8:00 a.m. until 11:30 a.m.
Mayor Brainard informed the Council and citizens that Prairie View Golf Club had been selected as the
host site for the IHSAA 2014—2019 boys and girls state golf championships.
ACTION ON MAYORAL VETOES:
There were none.
CLAIMS:
Councilor Schleif made a motion to approve claims in the amount of$4,199,188.44. Councilor Finkam
seconded. There was no Council discussion. Council President Seidensticker called for the vote.
Claims were approved 7-0.
COMMITTEE REPORTS:
Councilor Snyder reported that the Finance, Administration and Rules Committee had not met. The
next meeting will be held on Thursday, May 15, 2014 at 5:30 p.m.
Councilor Sharp reported that the Land Use, Annexation and Economic Development Committee had
met and discussed Ordinance Z-586-14. This item was referred back to the full Council with proposed
amendments. The next meeting will be held on Tuesday,May 27, 2014 at 5:30 p.m.
Councilor Carter reported that the Parks, Recreation and Arts Committee had not met.
Councilor Schleif reported that the Utilities, Transportation and Public Safety Committee had not met.
The next meeting will be held on Thursday, June 5, 2014 at 6:00 p.m.
Dave Bowers, Council representative on the Cannel Redevelopment Commission,was available for
questions of the Council regarding the financial activities of the Carmel Redevelopment Commission.
OLD BUSINESS
Council President Seidensticker announced the Thirteenth Reading of Ordinance D-2154-13; An
Ordinance of the Common Council of the City of Cannel, Indiana, Establishing a Department of Storm
Water Management and a Storm Water District, and Adopting and Approving Storm Water User Fees;
Sponsor(s): Councilor(s) Rider and Snyder. Remains in the Utilities, Transportation and Public Safety
Committee. This item was not discussed.
Council President Seidensticker announced the Tenth Reading of Ordinance D-2162-13; An
Ordinance of the Common Council of the City of Carmel, Indiana, Amending Chapter 6, Article 5,
Division VII, Section 6-158 (Noise Regulations); Sponsor: Councilor Seidensticker. Remains in the
Utilities, Transportation and Public Safety Committee. This item was not discussed.
Council President Seidensticker announced the Fourth Reading of Ordinance Z-586-14; An
Ordinance of the Common Council of the City of Cannel, Indiana, Amending the Carmel Drive—Range
Line Road Overlay Zone in the Carmel Zoning Ordinance. Councilor Sharp addressed the Council and
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made a motion to amend Ordinance Z-586-14 by substituting in whole Ordinance Z-586-14 VERSION
B. Councilor Rider seconded. There was no Council discussion. Council President Seidensticker called
for the vote. The motion was approved 7-0. Councilor Sharp made a motion to approve Ordinance
Z-586-14 As Amended. Councilor Schleif seconded. There was no Council discussion. Council
President Seidensticker called for the vote. Ordinance Z-586-14 As Amended was adopted 7-0.
Council President Seidensticker announced Resolution CC-09-17-12-01; A Resolution of the Common
Council of the City of Carmel, Indiana, Amending the Cannel Clay Comprehensive Plan"C3 Plan
2009"Regarding the Transportation Plan; Sponsor: Councilor Rider. Remains in the Land Use,
Annexation and Economic Development Committee. This item was not discussed.
Council President Seidensticker announced Resolution CC-03-17-14-07; A Resolution of the Common
Council of the City of Cannel, Indiana,Regarding Distribution of Monies to be paid to the City of
Cannel from Sale of Real Property(10407 and 10409 Pennsylvania Street); Sponsor: Councilor
Seidensticker. Remains in the Finance, Administration and Rules Committee. This item was not
discussed.
Council President Seidensticker announced Resolution CC-03-17-14-08; A Resolution of the Common
Council of the City of Cannel, Indiana, Regarding Distribution of Monies to be paid to the City of
Cannel from Sale of Real Property(10401 and 10403 Pennsylvania Street); Sponsor: Councilor
Seidensticker. Remains in the Finance, Administration and Rules Committee. This item was not
discussed.
Council President Seidensticker announced Resolution CC-04-21-14-01; A Resolution of the Common
Council of the City of Cannel, Indiana,Disbursing Arts Fund Monies ($681,400); Sponsor(s):
Councilor(s) Carter, Finkam,Rider, Snyder, Sharp and Schleif. Without objection from the Council,
this item was lifted from the Table. Councilor Sharp made a motion to reorder the agenda and move this
item to Other Business and discuss with the proposed add-on(see Other Business).
Council President Seidensticker announced Resolution CC-05-05-14-02 (Formerly CC-04-21-14-03);
A Resolution of the Common Council of the City of Cannel, Indiana, Approving Cannel
Redevelopment Commission Additional Services Amendment to Agreement for Purchase of Goods and
Services Contract with Mike Lee (P.O. #31558-Financial and Accounting Services for the CRC
$50,000). Council President Seidensticker referred to Corrie Meyer, Executive Director, Cannel
Redevelopment Commission, to address the Council. Councilor Sharp made a motion to amend
Resolution CC-05-05-14-02 by inserting at the end of line 34; in a total amount not to exceed$50,000.
Councilor Snyder seconded. There was no Council discussion. Council President Seidensticker called
for the vote. The motion was approved 7-0. Councilor Sharp made a motion to approve Resolution
CC-05-05-14-02 As Amended. Councilor Schleif seconded. There was no Council discussion. Council
President Seidensticker called for the vote. Resolution CC-05-05-14-02 As Amended was adopted 7-0.
PUBLIC HEARINGS
Council President Seidensticker announced the First Reading of Ordinance Z-588-14; An Ordinance
of the Common Council of the City of Cannel, Indiana,Amending The Bridges Planned Unit
Development District (Z-550-11). Councilor Schleif made a motion to move this item into business.
Councilor Finkam seconded. Councilor Rider referred to Charlie Frankenberger, Attorney,Nelson&
Frankenberger, representing the petitioner, to present this item to the Council. There was brief Council
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discussion. Pat Avolio,Director of Real Estate Development for Giant Eagle, addressed the Council.
Council President Seidensticker opened the Public Hearing at 6:53 p.m.
Jill Meisenheimer addressed the Council in favor of Ordinance Z-588-14.
Seeing no one else who wished to speak, Council President Seidensticker closed the Public Hearing at
6:56 p.m. Councilor Sharp made a motion to suspend the rules and not send this item to committee and
vote this evening. Councilor Rider seconded. There was no Council discussion. Council President
Seidensticker called for the vote. The motion was approved 7-0. Councilor Sharp made a motion to
approve Ordinance Z-586-14. Councilor Schleif seconded. There was no Council discussion. Council
. President Seidensticker called for the vote. Ordinance Z-588-14 was adopted 7-0.
Council President Seidensticker announced the First Reading of Ordinance Z-589-14; An Ordinance
of the Common Council of the City of Carmel, Indiana, Establishing The Bear Creek(71.63 acres
located at the SE Corner of 146`h Street; 14501 Little Eagle Creek Avenue)Planned Unit Development
District. Councilor Schleif made a motion to move this item into business. Councilor Snyder seconded.
Councilor Sharp referred to Tim Ochs, Attorney, Ice Miller,representing the petitioner, to present this
item to the Council. There was brief Council discussion. Council President Seidensticker opened the
Public Hearing at 7:13 p.m. Seeing no one who wished to speak, Council President Seidensticker closed
the Public Hearing at 7:13:30 p.m. Council President Seidensticker referred Ordinance Z-589-14 to the
Land Use, Annexation and Economic Development Committee for further review and consideration.
NEW BUSINESS
Council President Seidensticker announced Resolution CC-05-05-14-01; A Resolution of the Common
Council of the City of Carmel, Indiana, Approving Cannel Redevelopment Commission goods and
Services Contract with Calumet Civil Contractors, Inc. (P.O. #31772— Construction of 3rd Avenue SW
Parking Spaces $67,021). Councilor Sharp made a motion to move this item into business. Councilor
Schleif seconded. Councilor Sharp presented this item to the Council and made a motion to amend
Resolution CC-05-05-14-02 by inserting at the end of line 33; in an amount not to exceed$67,021.
Councilor Finkam seconded. There was no Council discussion. Council President Seidensticker called
for the vote. The motion was approved 7-0. Councilor Sharp made a motion to approve Resolution
CC-05-05-14-01 As Amended. Councilor Finkam seconded. There was no Council discussion.
Council President Seidensticker called for the vote. Resolution CC-05-05-14-01 As Amended was
adopted 7-0.
Council President Seidensticker announced Resolution CC-05-05-14-03; A Resolution of the Common
Council of the City of Carmel, Indiana, Approving INDOT Project Coordination Interlocal Agreement
(Bike/Pedestrian Facilities for 136`h Street from Keystone Avenue to Gray Road). Councilor Schleif
made a motion to move this item into business. Councilor Finkam seconded. Councilor Rider presented
this item to the Council and referred to Jeremy Kashman, Director, Engineering Department, to address
the Council. There was brief Council discussion. Councilor Rider made a motion to approve Resolution
CC-05-05-14-03. Councilor Finkam seconded. There was no Council discussion. Council President
Seidensticker called for the vote. Resolution CC-05-05-14-03 was adopted 7-0.
Council President Seidensticker announced Resolution CC-05-05-14-04; A Resolution of the Common
Council of the City of Carmel, Indiana, Approving INDOT Project Coordination Interlocal Agreement
(Bike/Pedestrian Facilities for Main Street from Keystone Avenue to Gray Road). Councilor Rider
made a motion to move this item into business. Councilor Schleif seconded and referred to Jeremy
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Kashman,Director, Engineering Department, to address the Council. There was brief Council
discussion. Councilor Rider made a motion to approve Resolution CC-05-05-14-04. Councilor Finkam
seconded. There was no Council discussion. Council President Seidensticker called for the vote.
Resolution CC-05-05-14-04 was adopted 7-0.
Council President Seidensticker announced Resolution CC-05-05-14-05; A Resolution of the Common
Council of the City of Carmel, Indiana, Approving INDOT Local Public Agency Exchange Contract
(Road Construction for Main Street from Illinois Street to Guilford Road). Councilor Snyder made a
motion to move this item into business. Councilor Finkam seconded. Councilor Snyder referred to
Jeremy Kashman, Director, Engineering Department, to address the Council. There was no Council
discussion. Councilor Finkam made a motion to approve Resolution CC-05-05-14-05. Councilor Rider
seconded. There was no Council discussion. Council President Seidensticker called for the vote.
Resolution CC-05-05-14-05 was adopted 7-0.
ADD-ON
Councilor Sharp made a motion to add-on to the Agenda Ordinance D-2167-14 and read into the record
the memo stating the rationale for adding this item to the agenda. Councilor Finkam seconded. There
was no Council discussion. Council President Seidensticker called for the vote. The motion was
approved 7-0.
OTHER BUSINESS
Council President Seidensticker announced the First Reading of Ordinance D-2167-14; An Ordinance
of the Common Council of the City of Carmel, Indiana,Authorizing and Approving an Additional
Appropriation of Funds from the Operating Balance of the General Fund; Sponsor(s): Councilor(s)
Sharp and Snyder. Councilor Snyder made a motion to move this item into business. Councilor Carter
seconded. Councilor Sharp referred to Curt Coonrod, C.L. Coonrod and Associates, to address the
Council. There was brief Council discussion. Mayor Brainard addressed the Council. Council
President Seidensticker referred Ordinance D-2167-14 to the Finance, Administration and Rules
Committee for further review and consideration.
Council President Seidensticker announced Resolution CC-04-21-14-01; A Resolution of the Common
Council of the City of Carmel, Indiana, Disbursing Arts Fund Monies ($681,400); Sponsor(s):
Councilor(s) Carter, Finkam,Rider, Snyder, Sharp and Schleif. Councilor Sharp addressed the Council
and referred to Curt Coonrod, C.L. Coonrod and Associates, to address the Council. Mayor Brainard
addressed the Council. There was brief Council discussion. Councilor Snyder made a motion to amend
Resolution CC-04-21-14-01 by substituting in whole Resolution CC-05-05-14-06 (Formerly
CC-04-21-14-01) and the 2014 City of Carmel Arts Grant Program in the amount of$632,335 as
presented to the Council by Mayor Brainard. Councilor Schleif seconded. There was brief Council
discussion. Council President Seidensticker called for the vote to amend Resolution CC-04-21-14-01 by
substituting in whole Resolution CC-05-05-14-06 and the 2014 City of Carmel Arts Grant Program in
the amount of$632,335 as presented to the Council by Mayor Brainard. The motion was approved 7-0.
Councilor Sharp made a motion to approve Resolution CC-05-05-14-06. Councilor Schleif seconded.
There was no Council discussion. Council President Seidensticker called for the vote.
Resolution CC-05-05-14-06 As Amended was adopted 7-0.
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ANNOUNCEMENTS
EXECUTION OF DOCUMENT
ADJOURNMENT
Mayor Brainard adjourned the meeting at 8:30 p.m.
Respectfully submitted,
4 ,
. - , f /7
Clerk-Treasurer Diana L. Cordr.y, . A C
Approved, g ,./ l _ . _.
J es Brainard, Mayor
ATTEST:
I i ‹.__
i 1 .
Diana L. Cordray, IAMC, Clerk-Treasurer
I
05/05%14 CC Meeting Minutes
6
CARMEL REDEVELOPMENT COMMISSION
Carmel Redevelopment Commission
STRATEGIC HIGHLIGHTS
• Calumet Civil Contractors have a low-bid proposal before you. This project creates ADA parking
spaces on 3rd Avenue for the Anderson Birkla project. CRC and Engineering staff recommend
approval.
• American Structurepoint was given notice to proceed on design following last Council meeting for
the public streetscape and connections surrounding the Mezz. Resolution CC-04-21-14-11
FINANCIAL HIGHLIGHTS
March Beginning Balance $ 523,529
March Revenues $ 719,662
March Expenditures $ 1,281
March Ending Balance $1,241,910 _ T
OPERATING HIGHLIGHTS
• Mike Lee's original contract has been submitted via email and as a part of the Resolution CC-05-
05-14-02 for consideration at the 5/5/14 meeting. CRC staff recommends approval.
LOOKING AHEAD
• The CRC staff will continue to tweak this monthly report to communicate the work of the CRC.
• The CRC will issue a Request for Proposals following the May 7 CRC meeting on the property that
was transferred from the City to the CRC at the last Council meeting.CRC will coordinate with
Council on a mutually agreeable sale price per the Amended Resolution passed at the last Council
meeting. The property is located at 7th Street NE and 2nd Avenue NE. The property is zoned for
residential use. At this time,discussions regarding the highest and best use revolve around
creating a pocket park and modifying the stormwater systems to help alleviate drainage issues
next to residential properties.
Corrie Meyer,AICP,RLA,LEED AP
Director
Carmel Redevelopment Commission/Department
April 25,2014
Prepared for David Bowers and Brad Meyer
April 25,2014 CRC Report for May 5,2014 City Council Meeting Page 11
FINANCIAL STATEMENT
Financial Statement
MARCH MONTH-END FINANCIAL BALANCE
Ending Balance without Restricted Funds $1,241,910
Ending Balance with Restricted Funds $3,244,542
SUMMARY OF CASH
For the Month Ending March 31,2014
Description Total
Cash Balance 3/1/14
1101 Cash $ 344,552.50
1110 TIF Distributions 178,976.27
Total Cash $ 523,528.77
Receipts
Clerk-Treasurer Cash $ 154,295.32
Clerk-Treasurer TIF 565,366.77
Developer Payments -
Total Receipts $ 719,662.09
Disbursements
Clerk-Treasurer Cash $ -
Clerk-Treasurer TIF 1,281.25
Total Disbursements $ 1,281.25
1101 Cash $ 498,847.82
1110 TIF Distributions 743,061.79
Cash Balance 3/31/14 $ 1,241,909.61
Total Usable Funds $1,241,909.61
April 25,2014 CRC Report for May 5,2014 City Council Meeting Page 12
•
FINANCIAL :STATEMENT
FUND BALANCES AND OUTSTANDING RECEIVABLES
As of 3/31/14
Restricted Funds
Energy Center Reserve $1,001,352
Civic Rent Reserve L001,281
Sub-total: 2,002.633
Cash (as seen in Summary of Cash table)
TIF 743,062
Operating 498,848
Sub-total: 1.241,910
Total Funds $3,244,542
Outstanding Receivables
Energy Consumption Payments(1) 20,923
Keystone Group(Bond Enhancement) 172,753
Total Outstanding Receivables $193.676
(1)Amounts due reflects months March and April 2014 for the
Tarkington and Office Building One. RE!Real Estate Services,LLC acts as
property.manager on behalf of the CRC and collects the Energy
Consumption Payments to be forwarded on to the CRC.
• •
STATEMENT OF CHANGES IN EQUITY
MONTH END: MARCH 2014
DESCRIPTION REVENUE EXPENSES
Total Receipts(Non-Operating) $26
Total Receipts(Operating): $719,576
Expenditures(Non-Operating) $1,281
Expenditures(Operating) $0
April 25,2014 CRC Report for May 5,2014 City Council Meeting Page 13
•
FINANCIAL UPDATE
Financial Update
DEBT
Bond debt payments will be made in June and December of 2014. Below are the anticipated payments;
MONTH TOTAL
June 2014 $9,357,615
December 2014 $9,334,342
GOING CONCERN
The CRC is managing expenditures to maintain a balanced budget in anticipation of lower TIF Revenue.
TAKEAWAYS
• Month-end balance is positive.
• Looking forward: we are developing a balance sheet and will include that in the packet for the
next meeting.
April 25,2014 CRC Report for May 5,2014 City Council Meeting Page 14
PROJECT UPDATES
Project Updates
CITY CENTER
• Developer Partner:Pedcor Companies
• Allocation Area:City Center
• Project Summary:
• Use:Mixed-Use
• Phase 1-complete
1) Apartments-Demand for the apartment's remains strong which supports the occupancy and
rental rates. Current occupancy is at 95%.
2) Retail-Pedcor has currently leases on 91%of the total 79,570 in LSE The remaining 9%(the old
Mangia,Holy Cow,&Sports Authority locations)of unleased space have future tenants for them,
and are working through the space planning process. Pedcor anticipates to be 100%leased by
June of 2014.
• Nash Building/Parcel 73
1) Project Status-under construction
a) The Nash underground parking garage is 70%complete and currently on budget. The Nash
Building first floor framing is completed and work on the additional floors have started. The
project is on budget and remaining on schedule,with an anticipated completion date of fall 2014.
Approximately half of the 9,000 sf of the retail space has been leased with strong prospects for the
remaining commercial space.
2) Council and/or CRC Action Items
ACTION ITEM CITY COUNCIL CRC
None at this time.
3) CRC Commitments
Provide streetscape along Rangeline Road.
a) Budget
Design/Engineering $5,000(majority of contract
pd.in 2013)
Construction $100,000
b) Design Consultant:American Structurepoint
April 25,2014 CRC Report for May 5,2014 City Council Meeting Page 1 5
PROJECT UPDATES
(Nash cont.)
c) CRC Commitment Schedule
Design%Complete 90%
i
Anticipated Project out-for-bid June 2014__
Proposed Construction Start Date July 2014
Anticipated Project Completion September/October
2014
Phase 2
1) Project Status-designs are schematic and construction has not started.
a) Project initiation discussions are happening between Pedcor and the CRC. Next steps will be
determined for action in May.
2) Proposed Construction/Use Sequence
PROJECT USE START DATE
Garage East A three to four story parking structure,which will include September 2014
approximately 28,000 square feet of luxury apartments and (garage only)
commercial retail/office space.
Baldwin/ A four story building,of approximately 64,000 square feet, September 2014
Chambers which will include luxury apartments and commercial
retail/office space. Pedcor is currently working with four
commercial businesses who will occupy approximately 14,000
sf of the commercial space.
Holland A five story building,of approximately 63,000 square feet, September 2014
which will include luxury apartments and commercial
retail/office space.
Playfair A five story building,of approximately 63,000 square feet, September 2015
which will include luxury apartments and commercial
retail/office space.
Garage Retail See Garage east note above. September 2015
Pedcor Office 5 A two story building,of approximately 25,000 square feet, September 2015
which will include office space.
Kent A three story building,of approximately 111,000 square feet of September 2015
luxury apartments.
Wren A seven story building,of approximately 88,000 square feet, September 2016
which will include luxury apartments and commercial
office/retail space.
Windsor A four story building,of approximately 64,000 square feet, September 2017
which will include luxury apartments and commercial
office/retail space.
April 25,2014 CRC Report for May 5,2014 City Council Meeting Page 16
PROJECT UPDATES
Second Hotel A building,of approximately 52,225 square feet,which will September 2017
Site include luxury apartments and commercial office/retail space,
with an option to be converted to hotel suites.
Hotel A four story hotel,of approximately 52,225 square feet,which TBD
will include parking.
3) Council and/or CRC Action Items
ACTION ITEM CITY COUNCIL CRC
None at this time.
4) CRC Commitments
No commitments have been formalized.
THE MEZZ/ MONON LOFTS
• Developer Partner:Anderson Birkla
• Allocation Area:City Center
• Project Summary:
• Use:Primary Residential. 42 residential units with 12,000 square feet of office.
• Total project budget:$7.7mm
• Secured Tenants:Fat Atom,Vocare,Anderson Birkla
• Anticipated Project Schedule
Office Move In August 1,2014
Residential Move In October,2014
Project complete December,2014
• Mezz Building(3rd Avenue)
1) Project Status-under construction
a) Structural steel is complete and residential unit framing will be complete at the end of May.
Under slab work has begun work with completion anticipated by the end of May as well. All
major utilities will begin in May.
2) Council and/or CRC Action Items
ACTION ITEM CITY COUNCIL CRC
Approve Calumet Civil CC-0505-14-01 Approved on 4/16/14
Contractors to construct
parking on 3rd Ave.
April 25,2014 CRC Report for May 5,2014 City Council Meeting Page 17
PROJECT UPDATES
(Mezz cont.)
3) CRC Commitments
Provide parking spaces on 3rd Ave and streetscape on the west and south side of the building,relocate
street utilities.
a) Budget
Design/Engineering Approved and funded with TIF
$8,900 for Utility Relocation _monies.
Project is TIF funded.Invoices are
Site Construction $67,021.00 expected to be paid May-July.
Utility Relocation Project is TIF funded.Invoices are
$250,000 expected to be paid June-October.
b) Design Consultant:American Structurepoint
c) Construction Contractor:Calumet Civil Contractors
d) CRC Commitment Schedule
Design%Complete 100%
Anticipated Project out-for-bid complete
Proposed Construction Start Date 5/6/2014
Anticipated Project Completion July 2014
• Monon Lofts Building(Monon side)
2) Project Status-under construction
a) Structural steel is completed,residential unit framing is complete. Under slab work has begun
work with completion anticipated by the end of May as well. All major utilities will begin in
May.
3) Council and/or CRC Action Items
ACTION ITEM CITY COUNCIL CRC
Create an easement in the Tarkington Discuss at next CRC meeting.
Garage to allow for an emergency access
hallway connecting the parking area and
the new building.
4) CRC Commitments
Monon Connection path,Small pocket park,Monon upgrades
a) Budget
Design/Engineering Not to exceed$75,000
Construction $310,000
April 25,2014 CRC Report for May 5,2014 City Council Meeting Page 18
PROJECT UPDATES
(Mezz/Lofts cont.)
b) Design Consultant:American Structurepoint
c) CRC Commitment Schedule
Design%Complete 0%. Notice to proceed issued 4/22/2014
Anticipated Project out-for-bid July 2014
Proposed Construction Start Date August 2014
Anticipated Project Completion October 2014
-end of report-
April 25,2014 CRC Report for May 5,2014 City Council Meeting Page 19