CRC-05-07-14 CRC Meeting, May 7, 2014
CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday,
May 7, 2014
President Bill Hammer called the meeting to order at 6:41 p.m. Commission members Dave
Bowers,Jeff Worrell,Greg Phillips and Bill Brooks were present,constituting a quorum. Also
present were Corrie Meyer,Michael Lee and Megan McVicker.
Others present:
Karl Haas,Jim Higgins,Jim Mullet(Omni Productions)and Andrea Davis(IBJ).
The Pledge of Allegiance was said.
Approval of Minutes
March 19,2014:Mr. Bowers moved to approve, seconded by Mr.Worrell. Passed unanimously.
April 16,2014: Mr.Worrell moved to approve,seconded by Mr. Bowers. Unanimously
approved.
Financial Matters
Mr. Lee stated the end of month April balance of the Commission totaled$1,210,574 and
$3,213,207 with restricted funds.
Mr.Lee gave an update on outstanding receivables.
Approval of Claims
Mr. Lee requested the Commission approve non-operating claims in the amount of$83,991.24.
Mr. Brooks moved to approve payment of non-operating invoices in the amount of$83,991.24,
seconded by Mr. Worrell.Passed unanimously.
Ms.Meyer announced that,as a result of settlement discussions,the CRC has settled with
Hagerman Construction in the amount of$730,000,which includes retainage. Ms.Meyer
requested approval of a resolution accepting the Hagerman settlement as proposed. Discussion
ensued.
Mr.Brooks asked about the savings reduction from the original offer. Ms.Meyer stated the
savings from the original offer was close to$1.5 million. Discussion ensued.
Mr.Bowers moved for approval of the settlement agreement of$730,000 for the Hagerman
lawsuit that includes the retainage. Brief discussion ensued. Mr.Bowers added to the motion to
include that both the Executive Director and the President would sign on behalf of the
Commission. Mr.Worrell seconded. Brief discussion ensued. Mr. Bowers amended the motion
to add that,in the absence of the President,the Vice President may sign.
Discussion ensued. Ms.Meyer confirmed there are sufficient funds to approve this claim.
The motion was approved unanimously.
Mr. Lee requested the Commission approve PAC construction fund claims in the amount of
$859,856.45. Mr. Lee noted this includes the settlement amount with Hagerman. Brief
discussion ensued. Mr.Worrell moved to approve disbursement of PAC funds in the amount of
$859,856.45, seconded by Mr. Bowers. Passed unanimously.
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CRC Meeting, May 7, 2014
Approval of Change Orders
There were no change orders to come before the Commission this month.
Committee Reports
Mr.Bowers stated the Finance Committee will meet on May 21 with the Clerk-Treasurer.
Discussion ensued.
Update on Properties
Ms.Meyer presented an update on the Nash and The Mezz projects in City Center. Discussion
ensued.
Old Business
None at this time.
New Business
Approval of Contracts
Mr.Lee presented two contracts for approval in the amount of$274,999. Mr.Lee stated these
contracts are within the budget allocated. Discussion ensued regarding clarification of financial
consultant and Clerk-Treasurer roles.
Mr. Brooks moved for approval of the contracts,seconded by Mr.Bowers. Approved
unanimously.
Authorization of Public Offering
Ms.Meyer gave background and detail on this item and stated an RFP will be issued in the paper
for public notice. Discussion ensued.
Mr. Bowers moved to authorize the public offering of property located at 7th Street NE and 2nd
Avenue NE,subject to a mutually agreed upon price between the CRC and the City Council.
Seconded by Mr.Worrell and passed unanimously.
Other Business
Mr. Hammer noted and gave detail of two bond refundings that took place in the past week that
resulted in net savings to the City and CRC of just under$8 million. Mr. Hammer noted that the
bond refunding does not extend either the lifetime of the bond repayment nor does it increase the
debt amount. Mr. Hammer thanked all involved for their work that resulted in the savings.
Discussion ensued.
Adjournment
Mr.Worrell moved the meeting be adjourned pending the execution of documents and seconded
by Mr.Bowers. The meeting was adjourned at 7:26 p.m.
The next regularly scheduled meeting is Wednesday,June 18, 2014.
An executive session was held directly prior to the public meeting in which pending litigation and
the purchase or lease of real property were discussed. The Commission hereby certifies that no
subject matter was discussed in the executive session other than the subject matter specified in the
public notice.
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