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Home My WebLink AboutCRC-07-16-14 Dropbox - Agenda - July 16.pdf Page 1 of 1 CARMEL REDEVELOPMENT COMMISSION AGENDA WEDNESDAY,JULY 16,2014—6:30 P.M. COUNCIL CHAMBERS/CITY HALUONE CIVIC SQUARE MEETING CALLED TO ORDER 1. PLEDGE OF ALLEGIANCE 2. BID OPENING: Bid responses for Metz site work 3. PRESENTATION: TIP Report 4. APPROVAL OF MINUTES a. Jane 18,2014 S. FINANCIAL MATTERS a. cash Flow Report b. Update on Outstanding Receivables c. Approval of Claims d. Special Matter I. Action Item#1: Approval of Change Orders 6. COMMITTEE REPORTS 7. UPDATE ON PROPERTIES S. OLD BUSINESS 9. NEW BUSINESS a. Action Item#2.: Approval to go out to bid for Monon and 3`d Avenue connecting path projc': 10.OT IER BUSINESS 11.EXECUTION OF DOCUMENTS NEXT REGULAR MEETING: Wednesday,August 20, 2014,6:31) p.m. , https://www.dropbox.com/sh/vb4kz7zuze9b5m5/AAC_j d-gt8Vap4TGIhUIX12Za/Agenda... 7/15/2014 CRC Meeting, June 18, 2014 CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday, June 18, 2014 ATTENDANCE: President Bill Hammer Present Vice President Dave Bowers Present Secretary Brad Meyer Not Present Treasurer Diana Cordray Not Present Member Jeff Worrell Present Member Bill Brooks Present Member Greg Phillips = Not Present :... Executive Director Conic Meyer ��• Present Financial Consultant Michael Lee Present Legal Consultant Karl Haas <Present President Bill Hammer called the meeting to orde46 4 1 p.m. w:<::: ; The Pledge of Allegiance was said. x�u - 1_ h: Bid Opening: RFP Responses for property located'at 7th Sti.eet NE and 2nAvenue NE Mrs. Meyer gave background on the"project and openedthe bid received. Mrs. Meyer requested a few moments to review the bid to deternune if it met the minimum purchase price. Mr. Hammer suggested moving on to approval of minutes then returning to address this item. Approval of Minutes ' May 7, 2014: Mr Wonell<inoved to approve,`seconded"bye MrBrooks°' Passed unanimously. May 30, 2014: Mr. Worrell movedto approve, seconded by Mr. Bowers. Unanimously approved. Bid Openine RFP Responses for pioperayalocatedeat�7th Street NE and 2nd Avenue NE Mrs. > eyer stated the one pi opsal recewe a�s�froinOld Town Development and included a bid4_orpurchase of the =arcel as for$65,000: s.Meyer stated this is well under the $203,000 minimum purchase price , ,`a b Mr. Brooks moved to reject theproposal; seconded by Mr. Bowers. Discussion ensued regarding next steps in`thc.process. The'i lotion passed unanimously. Financial Matters` < Mr. Lee stated the endtoftmon h:May balance of the Commission totaled $170,077 and $2,173,036 with restrict' funds. Mr. Lee gave an update on outstanding receivables. Mrs. Meyer gave an update regarding the outstanding payment from Keystone Development. Approval of Claims Mr. Lee requested the Commission approve non-operating claims in the amount of $8,878,233.95. Mr. Lee noted $8.7 million of this amount is for the semi-annual bond payments due this month and next and that the amount is within the budget. Mr. Bowers moved to approve payment of non-operating invoices in the amount of $8,878,233.95, seconded by Mr. Brooks. Passed unanimously. 1 CRC Meeting, June 18, 2014 Mr. Lee requested the Commission approve PAC construction fund claims in the amount of $58,789.50. Mr. Worrell moved to approve disbursement of PAC funds in the amount of $58,789.50, seconded by Mr. Bowers. Passed unanimously. Approval of Change Orders There were no change orders to come before the Commission this month. Intent of TIF Increment Mr. Lee stated that each year the State requires the Commission to make determinations relating to its need to capture TIF revenues for the following budget year. Mr. Lee stated staff is prepared to provide written notification to the appropriate taxing units of the Commission's intent to capture all of the available TIF revenues. ensued. R<= '' Mr. Brooks moved for approval of this action item, seconded by<Mr :;Bowers. Approved unanimously. '3``'. Approval of Revised 2014 Budget Mr. Lee gave background and outlined the revisions. Mrs. Meyer stated this has,been through the Finance Committee and was reviewed and discussed by staff,committee memhe stand five City Council members at the public Finance Committee meeting onaVlay 21. Mrs Meyerstated there was also a working group meeting with the Clerk-Treasures s office on June 17 to work through roles and responsibilities in association v itithe new SEA N8 18 Discussion ensued. k Watt Vif Mr. Worrell movedto approve4thebudget as prese a d econdeed by Mr. Bowers. Passed unanimously. Committee Repot There \ere ® further updates fm_rpro rthe. -inance Committee. • Mr aiiimer stated the.A c itecturit Com►mtteevwill start to meet again with members Mr. Worrell,Mr. Meyer an&Mr.�--Phillips' Mr. Hammer stated that Mr. Brooks will join Mr. Bowers on the Fin ance Committee: �a ,5 � ., , vti Update on Properties Mrs. Meyer gave=an update on Vie' Nash building and The Mezz project. Mrs. Meyer stated a detailed report regarding project°_updates goes before the City Council at their first meeting each month. Discussion ensued. Old Business None at this time. New Business Approval to go out to bid for construction work for site work associated with the Nash and Mezz projects Mrs. Meyer gave detail on the scope of work for this project and requested approval to release the construction documents for the site work associated with the Nash and Mezz projects. 2 CRC Meeting, June 18, 2014 Discussion ensued. Mr. Brooks moved to authorize staff to go out to bid for the construction work associated with the Nash and Mezz projects. Seconded by Mr. Bowers and unanimously approved. Approval to go out to bid for James building property management and maintenance contract in partnership with 4CDC Mrs. Meyer gave background on this item and requested that staff be allowed to issue a joint request for proposal for James building property management and maintenance. Discussion ensued. The Commission approved this action unanimously. efitir Other Business 44 None at this time. <> " Ad ournment Mr. Bowers moved the meeting be adjournedipending the execution of documents and seconded .4 , .. by Mr. Brooks. The meeting was adjourned at n'l.p.m. The next regularly scheduled meeting is Wednesday, J:uIy 16 20=14. .:� , An executive session was held directly:p notrto,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 sessioniotther than thesubject matter specified in the public notice. ;v� ., ,,,4,-tx, ‘,... ,„,,tz: SO Naak 3 Dropbox - Commissioners Notes - July 16.pdf Page 1 of 1 CARMEL REDEVELOPMENT COMMISSION July 16,2014—6:30 p.iu. Council Chambers;Second Fluor,Canna City Hall Commissioners' Notes Discussion Matter Call to Order I. Pledge of Allegiance 2. Lid Opening: Bice responses for Mena site work i. Presentation: TIFF Report. 4. Approval of Minutes n. June 18,2014 5. Financial Matters a. Cash Flow Report e The F..OIvi June balance: Cash- S 10,9301;74 o Cash and Restricted Funds-:1:12,233,(}71 h. Update on Outstanding Receivables c. Approval of Claims The irtvoi:.es submitted for approval by category are as follows: o Non-operating Expenses.:$64,849.48 o PAC Construction Fund: :h34,40l.29 d. Special Matter i, Action Item#1: Approval of Change Orders 6. Committee Reports a. Updates,if applicable, will be presented by the committees at the Ineeting. Requirement::None at this time. https://www.dropbox.com/sh/vb4kz7zuze9b5m5/AACdGEihjBLoFp6cEXcblasFa/Commi... 7/15/2014 Dropbox - 902 Non-TIF Revenue (June 2014).pdf Page 1 of 1 'lh Carmel Redevelopment Commission 902 Fund Non-TIF Revenue June 2014 Date Amount Source Description Energy payment-Tarkington (April- May 6/612014 13,745.10 REI 2014) Nash PIATT payments (December 2013 6/20/2014 76,221.44 CCC Nash, LLC and June 2014) Insurance reimbursement for Crider 6/2612014 74,734.00 Travelers settlement Total $164,700.54 is https://www.dropbox.com/sh/vb4kz7zuze9b5m5/AAAAcM Zj 83 ciD C_F 1CvfFwLa/902%... 7/15/2014 Dropbox - CRC Annual Budget Summary (ending 6-30-14).pdf Page 1 of 1 Carmel Redevelopment Commission Annual Budget Summary Update as of 6/30/14 Reference . A a C 0 E F 1 i Actual Actual PROJECTED %Complete Variant 2 May lune Jtdy Approved I 3E 4 BEGINNING BAIA6ICEWITHOUT RESTRICTED FUNDS $1,210,7Ce; $170,077 $10,930,574 5 6 I RESTRICTED FUNDS BALANCE 7 ' Enerer Center C_ri^en•.ption Reserve 3a1ar:ce 1,900.000 500,£30 500.000.. Gixrest far Ener€yCenxr Ccsnsu r.:for Reserve 1.502 1.517 1.317 9 1 Parcel 7C Tenant Rent Reserve 67,l2ne 1,007,0E0 60000 500,000 10 ' Interest fcr?:reel 7CTcrant Rent Reserve 1,457 1,441 1,a81 11 ' Sup 4nrnentarl Reserve Fend Balance 559,3010 12 Total Restricted Funds Balance 2,002 959 1502,995 1,562,49E 14 BEGINNING BAP.AJJCE WITH RESTRICTED FUNDS 3,213,663 1,473,075 12,793,171 16 TRANJSFERSFR04A RESTRICTED FUNDS 17 Transfer freer.-energy Centex CG-srsvm.tior,Reserve 500,100 16 ' Transfer from Parcel 7C Tenant Rent Reserve 200,000 19 'Total Transfers From.Restricted Funds: 700,£00 20 21 RECEIPTS-NON OPERATING 22 Lnxrest 1 317 251% 23 'Net Increment m 24 TIF Revenue,Net of Developer?assThrough 0 10,673,277 (1,571,1S7) 61% 25 ', One-time Merchants Square°_once Dcfeasance Funds 0 0 100% 25 Nash PIATTPa. .eats Decem5ec2013 and June 20141 0 76,221 100% 27 ■ V bee:Financial Seconda.-i ITC: 0 0 (55,600) SCSI 23 203600ITRefundineBond 0 (431,229) 50% 29 , Ce.-tlf.tites ci Participation,5_nes 20100(Ene,y Center) 0 0 (6348941- 53% 30 1 Illinois Street Bond 0 0 (434,254) 33% 31 2013I11inais Street Bond 0 0 (134,460): ifs 32 2005 PAC Lease 0 0 (2,325,000) 04 33 ' 2012 Lease 0 0 (4,616,000) 30% 34 Net Increment after Debt Service ar.d 0tvelooer Pass Through 1 10,285,537 (10,147.523) 35 TOTAL RECEIPTS-NOR OPERATING 1 10,255,537 (10,147,523): 35 ' 37 RECEIPTS-OPERATING 33 Interest 73 11 104% 33 'Erer Pa.Tner.ts 25,922 0 53,543 ! 41% 40 2013 and 20142El Energy Payments 3.5E9 13,745 10C% 41 f 4CDC Grants 0 0 16,235 ! 27% 42 'Civic Rent 0 0 0% 43 Keystone Group.LLB Receivable Pond En.:iancea-.ent)2013 0 0 172,753 0% 44 'Keystone Group,LLC Receivable)ion'Eriaac erne r.t)2014 0 0 0% 45 .SaleofBuildines-Prot-fee 0 0 0% 45 Miscellaneous Receipts 0 74,734 045 47 TOTAL RECEIPTS-OPERATING 30,5E3 85,490 242,851 43 ' TOTAL RECEIPTS 30,554 10,354,076 (9,904,642) 50 'EXPENDITURES-NON OPERATING 51 !Construction 52 Palladium Corstru-ti_a1Retention and Legal 220,3E0 07,79f. 21,407 66% `a r Fund 350.0[0 0 100% 53 Contingency 54 Parcel 73 Stre atscame site Engineering 2,354 0 844 , 33% 55 h-0e.t?rnldiry Site c irxair- 2.502 0 1,735 : 34% 55 3rd Avenue and Maroon Connecting Path Engineering 0 0 _ 4,150 CA_ 57 Monan Trail Wn Er,ineerine 0 0 4,150 0% 53 PartlYorkk:et P.1or, Enenetrine 0 0 4,150 0% 59 Due Refocaian atPedccr Engineering 0 0 1,4453 0%f 63 Parcel 73 Streetst ?e 0 0 20,007 0% 61 1 MisxllaneousConstructian 0 0 3,333 _ 0% 52 V City Center Elea-xi,'Utility 3elt+�tian&&. :nsicst 0 0 0% 63 `•; Meat Building Site Canstrnction 0 0 77,500 0% 6 rojer_Professional Fees r- }' 65 _ aI Fees 55,245 36,724 9,811 7Cb5 E3 A-ii e_:ureJEnei.ne nnG Fees 0 0 1,867 0% r https://www.dropbox.com/sh/vb4kz7zuze9b5m5/AAAdj kUJOgUFs-2d7uYodilJa/CRC%2... 7/15/2014 Dropbox -Financial Information Packet (July 2014 meeting).pdf Page 1 of 1 C 4L\ 761 V EL '‘E 0 EVE x' ,'v T C %j Fi i anciai Information Packet For the Month Ending June 30, 2014 https://www.dropbox.com/sh/vb4kz7zuze9b5m5/AAC_6M5RXr4xwKWIHn6y2NTVa/Fi... 7/15/2014 Dropbox -Non Operating cover sheet (7-16-14).pdf Page 1 of 1 NON OPERATING INVOICES July 16,2014 .Y..0.APr/Pr.Pvideli I !Ewa ice# 0-411P 1 Amount Brinds i I Villagq Finatycfal Saconpy!pc 1 Village Financial,11C 70314 0103(14 l S s3,6a.! 51104010i: Vil1app Firtanclal SoFai-'dory 1PC 1! k.5.!,60I Total Bonds r - — 1 $ Sli,g08.1 ...., . ._ . i Proloci Prifie0a-nil Foos LegilPOis I I Bin-t I-4-Titaintiuri_ i$87203 and it°1072-0-4 06/ St 14 1$ 4284 Sub-tore Lerijall Fees I I$ A29.I --. I — Accouating Fees I Michael too 201407 .,. 0710104 S 3,790 $ ..1:722.,_-, 1-9n6911,1;"ifi.lto C44:11,9_ 271n 0E430114 1-$ 1 e32.1 Sub,tolat AecouritingFotla I T.0:111TPi§ig-4.?-1:04.1i.PW:***-- 7 I S 6:150i i l' al-Expendifitiosi - _.1 1$ 64849., I Approved JUIy 16,2014 Approved July 16,2014 Approved July 16,2014 I 1 — , - William Hammer,PreSidafil David Bowers,Vice President Brad Meyer Secretary , ., ,. II- -- I --- , ---- — Approved July 16,2014 , r . , William Btook.s,Member Pogo t https://www.dropbox.com/sh/vb4kz7zuze9b5m5/AAC_724AW8bLFECIXM9hYPyia/Non... 7/15/2014 Dropbox - Operating cover sheet - informational (7-16-14).pdf Page 1 of 1 OPERATING INVOICES(informational) July 16,2014 Vendor/Provider Invoice e Date I Mw 400 Otfter Professlonal Fees Innovative Refining,LIG 201405 06/00114 li $ 9, inneialiiiii Planning.Lit -icii:i 6 4 oikiii4 i Suie-ioial: Other Professional Fees i $ le, CAossifted Ails i Stir Ma-fla 2t18 OtOgt i 4 1 $ .. ilieliniei TL.5500 ai./1-17I4 i $ Sub-lolat Clasiffird-Aili $ Teta: 400 II $ 10 , 500 ----00iiir,6effaii Siffilaiii k e maintain()ilia C4F0i21975593 07/02/14 $ Stil-,i4014. Oilier contracted Swvees : s I 1$ Caplet Lease Kona minoifith6tTifei Finance 63/I4 06/004 _ ________ . .,_ .§0.040114.: C9P*1.-.9. 0 $ Eifeilieidef RaiifriftLaiiitie4 _ Pitney Bowes R_C17202-3414 06113/14 $ %11?7,101al: 041111001 Rental 80..easim_ Teial: 500 s Total Ex genttiorros.: , $ it), Page l 1 https://www.dropbox.com/sh/vb4kz7zuze9b5m5/AACKk CzTHoHCkFxrfaZASkYa/Oper... 7/15/2014 0- 0 DISBURSEMENT OF PAC FUNDS July 2014 0 c PURPOSE AMOUNT 0 1 RetentionfLegal PAC claims invoice 383062 34,401.29 c tted $ 34,401.29 cr Approved July 16,2014 Approved July 16,2014 lens David Bowes,Vice President Brad Moyer,Secretary �-C i0 Approved July 16,2014 ti to r VJiltiawn Brooks, Member C C c) o � b C0 J L1� (li C1) N o O � � �I. Dropbox - PAC cover sheet (7-16-14).pdf Page 1 of I DISBURSEMENT OF PAC FUNDS July 2014 VENDOR PURPOSE Palladium Construction Retention/Legal Krieg DeVWull PAC claims invoice 383062 Total Invoices Submitted Approved July 16,2014 Approved July 16,2014 Approved July 11 William Hammer,Preskient David Bowers,Vico President Brad Meyer,Seer Approved July 16,2014 Approved July 16,2014 Jeff Worrotl,Member Wiftiam Brooks,Monttar https://www.dropbox.com/sh/vb4kz7zuze9b5m5/AAAuOmParnJRs8x lYsUKBRxa/PAC... 7/15/2014