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Home My WebLink AboutCRC-10-15-14 CARMEL REDEVELOPMENT COMMISSION AGENDA WEDNESDAY, OCTOBER 15, 2014—6:30 P.M. COUNCIL CHAMBERS/CITY HALL/ONE CIVIC SQUARE MEETING CALLED TO ORDER 1. PLEDGE OF ALLEGIANCE 2. APPROVAL OF MINUTES a. September 15, 2014 b. September 17,2014 c. October 1, 2014 3. FINANCIAL MATTERS a. Cash Flow Report b. Update on Outstanding Receivables c. Approval of Claims d. Special Matter 1. Action Item#1: Approval of Change Orders 4. EXECUTIVE DIRECTOR REPORT 5. COMMITTEE REPORTS a. Finance Committee b. Architectural Review Committee 6. UPDATE ON PROPERTIES 7. OLD BUSINESS 8. NEW BUSINESS a. Action Item#2: Approval of Resolution 2014-17 re: Intergovernmental Transfer of Real Property Interest (2 1'd Street SW and 3rd Avenue SW) b. Action Item#3: Approval of Conveyances Agreement re: Parcels located on City Center site and portion of Shapiro's site 9. OTHER BUSINESS 10.EXECUTION OF DOCUMENTS NEXT REGULAR MEETING: Wednesday, November 19,2014, 6:30 p.m. 11. ADJOURNMENT CARMEL REDEVELOPMENT COMMISSION October 15,2014—6:30 p.m. Council Chambers,Second Floor,Carmel City Hall Commissioners'Notes Discussion Matter Call to Order 1. Pledge of Allegiance 2. Approval of Minutes a. September 15,2014 b. September 17,2014 c. October 1,2014 3. Financial Matters a. Cash Flow Report • The EOM September balance: o Cash -$477,092 o Cash and Restricted Funds-$2,364,936 b. Update on Outstanding Receivables c. Approval of Claims The invoices submitted for approval by category are as follows: • Non-operating Expenses: $59,771.41 • PAC Construction Fund: $85,417.49 d. Special Matter i. Action Item#1: Approval of Change Orders 4. Executive Director Report 5. Committee Reports a. Updates, if applicable, will be presented by the committees at the meeting. Requirements:None at this time. 6. Update on Properties(other than negotiation and litigation matters) a. Please see the attached document for the CRC project updates. 7. Old Business 1 8. New Business a. Action Item#2: Approval of Resolution 2014-17 re: Intergovernmental Transfer of Real Property Interest(2nd Street SW and 3rd Avenue SW) b. Action Item#3: Approval of Conveyances Agreement re: Parcels located on City Center site and portion of Shapiro's site 9. Other Business 10. Execution of Documents a. Next Regular Meeting,Wednesday,November 19,2014,6:30 p.m. 11. Adjournment 2 Carmel. � ' ^ x^��rI�l�� ^��O�0I��(�|l PROJECT UPDATES CITY CENTER " Developer Partner: Pedcor Companies , , Allocation Area: City Center " Project Summary: ° Use:Mixed-Use ^ ___ :-"'•• ° r.: 1 i '-7' ;:,:-.,„, .- --. ,..4--i: . .,:MK ,•°?!.',4j4i.,=:\'‘'':t,'i':i.,1:',14,g!":1‘=.7=1;.t:IlliimloiitArgkivolgil,,,,, ti 1:.,.. •.::_it.......,,,:.-----F.ialt:+tticbg 74„1„:Viii ilt;;;',..41,,,PLittIt1,,: 11 1 .:.-2,;;;;"-ii:-::: :',771:1 '-':.'•''''';fl71::: :tentlf:' •-• ,':: jc!.. , 7;4,§§§aw,- n;:::: 4itlk*-,,,,,- t I ;":-. , .4,Vitt:VVIar AA"ti fit ',,TiT'''''''''' -.4:-...'..-:r.,,,-;:,, 1: 0,0,,,,;.-j..1..fitaka ,. ,.-;: L 44.0111111e St:14W^ '-,.. .C.,...-P) i RD LNieg.*::::4V' =i:: Iii I:: ,.'.- 1.7-::::!.-. .',1,,z:iii-:;':--,_::',:::,r.:-'i"::-.-..-- ,..:, -IHEiNfR5 1 . i 1- --_ __—'_ . � '''''."---'-'.."-' 'n':' ',' :Q:i' • Ilt1:4ti tar fibillift . :It ...,„,;:...„7,:li,":',JE:1:.:7•--:t'1,› ''Filltt'm't"' Egure 1.City Center Master Plan,provided by Pedcor City Centoroevelopment Conviany " Phase 1. -complete 1) Apartments-Apartment demand remains strong which supports the occupancy and rental rates. Current occupancy is at 96%. , Z) Retail -Cm'rcn�K Pedcor leases on 9lq6 of the total 79.570 in LSD Thcn:maioio�9Y4 [thco|d TNnngi�Holy Cov��Spn�sAuthohiylocu�onsln[uo\casedspaccbavcfu1u/rtcnaots[brthcm. andaremmrkinAthruu/�hthcspaccp|onningprocess. Pcduurand6patcstobml0OY�|cascdb�[aU of 2014. -__�� October 2,2014 CRC Report for October 6,2014 City Council Meeting P a g e l 1 , ° Nash Building!Parcel 73 1) Project Siatus-oodcrconstructino a) The Nash underground parking ga rage ix95%complete andcurrently on budget. The'sash ilwldmng fit st floor it iii ii is passid rough in 11,41!:'illttittt;„;;'s:.i:iVi'';:.i:;j:;:iii:.:;!.I;‘:i':: inspection with insulation and drywall to commence. Storefront/glass installation continues. Second and third floor apartments are receiving primer,paint,cabinetry trim, tile&other finish work. 6runirc measurements have been taken. Balcony,masonry,&OP|S work continues on the exterior. The project is on budget anti remains on schedule,with an anticipated completion date of fall 2014. p/u,/u,uuyp,uuvr City Center »,'�Co, I Approximately with strong prospects For the remaining commercial space. 2) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None 3) CRC Commitments Provide streelsctipe uIomq Range/inc Road. a) Budget: 1 Budget 1 $5,000 01R-01-Ay of contract pd.in 20 1 3)per I Design/ Engineering 1 June'14 Budget i Construction I $1.00,000 per June'14-Budget : Available funds for construction project due to I increased revenue $242,1.79 b) Design Consultant:American 3o-ucturcpoioI c) CRC Commitment Schedule I Design 'A Complete 100% 1 Construction Start Date October 201.1 : Anticipated Project Completion November 2014 1 October Z.Z0l4 CRC Report for October 6,21)1.4 City Council Meeting Page 12 o -,,,..,..1111M,Lt4Vti'W'''''.,m'411\f/t,3"., 1 Nitits>.,•,,,s :,Ag',.i.:...;','ONON,''''''''''''''' — ::•4„AMitt',W,',`:tT'''''' ' '''Or aiiKla'a ' , -,, ,,.,, ,,,,i,,.,,,,,,,,,,,,,,,,,,,..,„.. . --,' -,`---na416:0"''ai 41:014p : .I ".4E10,..atftaialarIPM''''''''''''' asn Phase 2 r' p�sr unocqucs�wcbcrcycar'scod@l) Prnjccd hcRca|incad dbelox Pbasc2siieh buildings nu] t3ia�s-dr� acsd�c/oadcmndonooah/r� cadmnb 01�unn2 o nVttituissn�uycsIorc8e nssubEd/u| to faupnpdropv�b|s|iccoionnsptrrouvcedrooneovvisioUnbet�hcoi DESIGN D0R quence thnbcdpaU7on�tastracrqLr�d PROJECT |PROvnE�[E ARTD 2) Proposed Construcbon/UyeS PROJECT USE ST LNyDEERCN�S, a2181d coman eri:l ail.,rLett•dfl lixurY..11):1111..:„). cs , .,. :spri n.i,?,..,i.0.1,... .....,i.:::'.......;:1:.,:::::::::;...;,...1_,,,,,;:‘,.,,,,,,,,..:,,,,,,,:..,,,....,...gil..,,..e..,,i-,,,,,,,,,,,,,:,:i.:1:71:1,,,,,,,,.:::,.:,,,,,,i.:::::::,....::. . .‘,1t.:1(tacli:‹1.1:111:glfilfykiii.:ciertc(1.1.:1.11;1")...).(y1)11.11-1::C'.°:ri'fIll-,ii.:C..);:::::‘C:::;i1:1111-14:1'10:10t-y.0:.S.f o.f . ,, ,, , ,,,;;,-,,,,,,,,-,..,:ip;:,-li-,;:11;,4-;::',7,.',:.f,-.:',.--.1:::,.1-',.:7;!;',.....:::.Th;z,c0-1.7:-.:"-:,:iiry,-:1,i1,41';',,,--kfii--':-.::',:'::::12,1,?,;,."' • 11°11'-'111d ':c-11:t..)':!1:11'''3./-1(1.)''''ifil'i:-.. t:st,:ip?'''.!T.,&:-:::":''''''.' 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'" ' � ` � . �� ^ ' ' ' ' ` ` � ^ ^ � ^ . � `,.�� = ' � ' � `� . ` ' � ' Ocm6erZ'20l4 CRC Report tor October fi2Ul4OCy[ound!��cc�nA Pu � e � � y BIENE PPS z r� 5 Kent A three story buildmg of approxim rtely fall•201 i • 111,000 Square feet Of luvury,ap lrtnient4 _ .. e Wren A seven story building,of approximately Fall 2016 O8,000 square e feet,WhiCh Will include d t luxury apartments and corn mercial office retail space, IT !•t ' 4: ai �t } u l, Windsor A four story building,of approximately Fall 2017 64,000 square feet,which will include luxury apartments and cornnrercia l office/retail space. Eastern A building,of approximately 76,000 to Fall 201.7 Motor 91,000 square feet,which will include Court Site luxury apartments and commercial office/retail space designed so that in the future it could be in whole, or in part, converted to hotel rooms and/or hotel amenities. Hotel A four story hotel,of approximately 44,000 THD square feet,which will include parking. 3) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC Reallocation of Carmel On-docket, 10/6/1.4 Introduced in September. Downtown Economic Resolutions 201444 and Public Hearing proposed in Development Area 20.14-1.5 October: TIE Bond request N ovember Introduce in October 4) CRC Commitments No commitments have been formalized. Initial discussions have begun. Proposed commitments will he introduced with the TIE B and request. October 2,2014 CRC Report for October 6,2014 City Council Meeting Page 14 , .t....,,,,,,mskixi-i-7,Amit'"'41:11\4110.....i.:",:t.„11":::::41i-Wl..:" '=tr'"''''''''''' 19::*: Ri!,'"'.ii,Ititititait:::;:iiit:445'"1-'''''" 3 THE MEZZ/ MONON LOFTS ® I:)eveloper Partner: Anderson birkia ri A'location Area: City Center Project Summary: a "se: Primary Residential. 42 residential units�a-itlr .12,()O()square feet of office. 4 `rail t project.bJzdget:: S7.7mrrr Secured'Tenants: Pat thorn,Voeare,Anderson 13irkla s 0. 3 'f4n X � �°x t $r� y "3 c.. h - ' d`tr r� �. " 8 ° �^,�q+rzR�.xtua:,`i ...� - t . 0 '�.;i,a H. f ev0 r t E i I 1 E kii Ys!.. 3 t 3 es �� , r "'.� �-'� t o ri nnwr:rrc csAruc� - g �* K R6 r r s C:F,.1.,•'- } .!%: I k i�`y @ 'nth_ z III it-,:',-1':i.::::::!.4::-;;4.-::-;Nit.03-i.':::',Eti,--7,,,I ,--11-1g1:4-41-iiiitiRJ:141)"k'' -: '.-----.- -:::::.,':1.=,..,]-- ;:--t.A4-4,,.#4ft lit!---;Altitas'',-rel- -' a p'kftp AttL-3 :: 4 3zz't �s �s ^e _ Ercna. �:' ' 3��a.., ,g 0 {w, tia. « E s .�-�'legf w' :Oir Rae+s ' Figure 2 image tts`ts��ided t yAnttaar'en Birk]a • Anticipated Project Schedule O111c:e Move In No ember,2014 Residential Move In November,201.4 Project cxrrrrl.lele December,2014 October 2,2014 CRC Report for October 6,201 City Council Meetin;� P a e S „,,„,„.„,, .: -.‘,:;-,,7,-, -;,.:.':.,''. 11;11:74i.q,`'1".1'.;.:''''''''6:2 ''Vtris ;,''''' '' ,,:.sy.iv,,,, ,,,,, 1 L 7 0 kw,..A....::,„,,,-::_:.:.,,-;,:---...-,.: ,itto,:,:,,, � = Men Building(3r'tAvenue) l) Project Status-under construction a) Building 1 Framing is 99% complete. Frame punch is9OY6completed. h) FirstOonr�uc|hnmingio 70-,y, complete. Op.4,-'-„,,,,,,,400.„,ii 1,...iubi,`, r., c,all.'efilhotst,,,,, 4 Building lMEP^J Plumhing Unit Rough i'l'',''7,1::01-194:11;114,7:431:1(1;:silitiriii7,.'":;(4:11 -'::-.1:144-4'1,--:::::::,,,'4,:::711,„,pitiet: 1., is85%completed.Electrical Rough is 9OYA complete. Fire Suppression rough is 1U0Y6completed,RVAC Rough is9S°,0 - completed, Building Roof install is90%completed. 06 completed.Building .1 -Iyvek, Vinduvs &doors are 1U • Motion Lofts Building (Monon side) 1) Project Status - under construction x) Building Framing is iO096comp|ete. ihz17,„4:itito_ettaik'''''.-,,40-.3t,'',::::e„,;:'"ii,,i1,,illel'i,i;,1,,,;.„1-ii!i•;l'icolp, ., Frame punch ic08Y600mp|eted. 6) Building 2 -Trick,WinJow/s. Boors are k.4'r.:1'.;t44.11%14411q1oNiekviNettyte; d 1MUrUs\6O�nnusrtastDecd). ;!..k),,,i4,414;;;L:,..;;;:itz4,1;17:,..-`•°,"Ali 1:11,1kiftit '':7.7''1‘1.;;;!,:‘,.., framing ix7U9cumpictc 114 -;,,,e0 ',-kiPar, ',‘-'-'2-,'.1.111:ii ; -:,,i1;-=,-,-,., ,.;,:.; d) Building 2 yWEP,3'Plumbing 2nd is 90% complete. E|cctica} rough (s9O% tviit cumpie�c. Fire�upprexsiunnuo�hix �� 1U0��con�p|cre. HVAC rough is0s96comp|ete� |JinoZ roof is98%completed oux cue� Pum �� ib�e) iBuai(chu� /roa/vedinthcwmrrh l �h �fixtures,tubs, marble vanity sinks, mirrors,vvh�dovvs and screens and wood for the spiral stairs. 2) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None October Z.20l4 CRC Report br October 6,2014 City Council Meeting Page 16 S _ K ,a.f A ,a } ..� R e %�° o-r;.'.�`�` � -;ter 3) CRC Commitments Provide parking spaces on 3,e Ave and streetscape on the west and south side of the building and relocate street utilities.Site Improvements, Monon Connection path,Small pocket park(by developer) a) Budget Design/ Engineering ! $8,900 for Utility Relocation Per approved June'14 CRC budget Not to exceed $75,000 for Design/ Engineering site design;/engineering Per approved June'14 CRC budget Invoices are expected to be paid November. Calumet Civil Site Construction $67,021 (3";Ave) Contractors. Invoices are expected to he paid in Utility Relocation $250,000 December. Invoices are expected to be paid November/December. Midwest Site Construction $242,979 (site work) Constructors. h) Design Consultant:American Structurepoint c) Construction Contractor: Calumet Civil Contractors/ Duke Energy/ Midwest Constructors d) CRC Commitment Schedule Design % Complete 1.00% Proposed Construction Start Date September 2014 Anticipated Project Completion November for site work • • -One Enclosure- October 2,2014 CRC Report for October 6,2014 City Council Meeting P a g e 17 CRC Meeting, October 15, 2014 CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday, October 15, 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 Corrie Meyer =`Present Financial Consultant Michael Lee Present Legal Consultant Karl Haas Not Present Legal Consultant Ryan Wilmering Present President Bill Hammer called the meeting to order at 6:34 p.m. The Pledge of Allegiance was said. Approval of Minutes September 15,2014: Mr. Worrell moved,to approve, seconded by Mr. Brooks. Passed unanimously. September 17, 2014: Mr. Worrell moved to appr'ove, seconded by Mr. Bowers. Unanimously approved. October 1, 2014: Mr Brooks moved to approve, seconded by.Mr xWorrell. Passed unanimously. Financial Matters Mr. Lee stated the end of month September balan`ceof the Commission totaled $477,092 and $2,364,936 with,restricted funds. Mr. Lee gave an update:on the outstanding receivables. Approval'of Claims Mr. Lee requested the Commission approve_non-operating invoices in the amount of$59,771.41. Mr. Bowers moved to approve`payment of non-operating invoices in the amount of$59,771.41, seconded by Mi.-Worrell. Passed;unanimously. Mr. Lee requested thexCommission approve PAC construction fund claims in the amount of m $85,417.49. Mr. Brooks oved to approve disbursement of PAC funds in the amount of $85,417.49, seconded by"Mr Bowers. Passed unanimously. Approval of Change Orders There were no change orders to come before the Commission. Executive Director Report Mrs. Meyer gave an update regarding topics discussed at the bi-weekly meetings with the CRC Treasurer, including file management and closing on the former Shapiro's site. Discussion ensued regarding file maintenance and backup. Mr. Hammer requested staff verify that a backup system is in place for the electronic file system and to determine which paper copies of files would need to be kept. Mrs. Meyer gave an update on the final phase of the City Center project. 1 CRC Meeting, October 15, 2014 Committee Reports Mr. Bowers stated the Finance Committee is working on the 2015 budget in preparation for the committee's public meeting on November 18. Mr. Worrell stated the Architectural Review committee meets every month on a regular basis and at their last meeting representatives from Anderson Birkla were there to discuss the Party Time Rental site. Mr. Worrell noted that, per Mrs.Meyer's idea, a number of the City department heads are now attending the meetings in order to address concerns, ask questions and then offer assistance and advice to the developer throughout the project planning process. Update on Properties Mrs. Meyer gave an update on The Nash and The Mezz projects.;,;,. Old Business None at this time. New Business Approval of Resolution 2014-17 re: Intergovernmental Transfer of Real::Property Interest(2nd Street SW and 3rd Avenue SW) Mrs. Meyer stated that this is a transfer of proper y that the City Council apped at their last meeting. Mrs. Meyer gave background and referenced presented. rovmaps. Discussion ensued. Mr. Bowers moved to approve Resolution 2014 -17 re: Intergovernmental Transfer of Real Property Interest. Seconded by Mr Worrell and passed unanimously. Approval of Conveyances Agreement re Parcels located on City Center site and portion of Shapiro's site Mr. Worrell moved to table`this item, seconded by Mr Bowers Unanimously approved. Other Business None at this time. Adjournment Mr.,Worrell moved the meeting be adjourned pending the execution of documents and seconded by IVIr. Brooks. The meeting was adjourned at 7:07 p.m. A special meeting will take place on Thursday, October 30, 2014 at 8:00 a.m. The next regularly scheduled meeting is Wednesday,November 19, 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. 2 CRC Meeting, October 15, 2014 CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday, October 15, 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 Corrie Meyer Present Financial Consultant Michael Lee Present Legal Consultant Karl Haas Not Present Legal Consultant Ryan Wilmering Present President Bill Hammer called the meeting to order at 6:34 p.m. The Pledge of Allegiance was said. Approval of Minutes September 15, 2014: Mr. Worrell moved to approve, seconded by Mr. Brooks. Passed unanimously. September 17, 2014: Mr. Worrell moved to approve, seconded by Mr.Bowers. Unanimously approved. October 1, 2014: Mr. Brooks moved to approve, seconded by Mr. Worrell. Passed unanimously. Financial Matters Mr. Lee stated the end of month September balance of the Commission totaled $477,092 and $2,364,936 with restricted funds. Mr. Lee gave an update on the outstanding receivables. Approval of Claims Mr. Lee requested the Commission approve non-operating invoices in the amount of$59,771.41. Mr.Bowers moved to approve payment of non-operating invoices in the amount of$59,771.41, seconded by Mr. Worrell. Passed unanimously. Mr. Lee requested the Commission approve PAC construction fund claims in the amount of $85,417.49. Mr. Brooks moved to approve disbursement of PAC funds in the amount of $85,417.49, seconded by Mr. Bowers. Passed unanimously. Approval of Change Orders There were no change orders to come before the Commission. Executive Director Report Mrs. Meyer gave an update regarding topics discussed at the bi-weekly meetings with the CRC Treasurer, including file management and closing on the former Shapiro's site. Discussion ensued regarding file maintenance and backup. Mr. Hammer requested staff verify that a backup system is in place for the electronic file system and to determine which paper copies of files would need to be kept. Mrs. Meyer gave an update on the final phase of the City Center project. 1 • CRC Meeting, October 15,,2014 Committee Reports Mr. Bowers stated the Finance Committee is working on the 2015 budget in preparation for the committee's public meeting on November 18. Mr. Worrell stated the Architectural Review committee meets every month on a regular basis and at their last meeting representatives from Anderson Birkla were there to discuss the Party Time Rental site. Mr. Worrell noted that,per Mrs. Meyer's idea, a number of the City department heads are now attending the meetings in order to address concerns, ask questions and then offer assistance and advice to the developer throughout the project planning process. Update on Properties Mrs. Meyer gave an update on The Nash and The Mezz projects. Old Business None at this time. New Business Approval of Resolution 2014-17 re: Intergovernmental Transfer of Real Property Interest(2nd Street SW and 3rd Avenue SW) Mrs.Meyer stated that this is a transfer of property that the City Council approved at their last meeting. Mrs. Meyer gave background and referenced presented maps. Discussion ensued. Mr. Bowers moved to approve Resolution 2014 -17 re: Intergovernmental Transfer of Real Property Interest. Seconded by Mr. Worrell and passed unanimously. Approval of Conveyances Agreement re: Parcels located on City Center site and portion of Shapiro's site Mr. Worrell moved to table this item, seconded by Mr. Bowers. Unanimously approved. Other Business None at this time. Adjournment Mr. Worrell moved the meeting be adjourned pending the execution of documents and seconded by Mr. Brooks. The meeting was adjourned at 7:07 p.m. A special meeting will take place on Thursday, October 30, 2014 at 8:00 a.m. The next regularly scheduled meeting is Wednesday,November 19, 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. 2 • CRC Meeting, October 30, 2014 CARMEL REDEVELOPMENT COMMISSION Meeting, Thursday, October 30, 2014 ATTENDANCE: President Bill Hammer Present Vice President Dave Bowers Not 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 Corrie Meyer Present Financial Consultant Michael Lee Present Legal Consultant Karl Haas Present Bond Counsel Bruce Donaldson Present Financial Consultant Loren Matthes Present President Bill Hammer called the meeting to order at 8:02 a.m. The Pledge of Allegiance was said. Bid Opening: Real Estate Property at 3rd Ave Mrs.Meyer gave brief background, then opened and read aloud the bids. Mrs. Meyer stated staff will evaluate both proposals and follow up with the Commission after review. Public Hearing: Resolution amending the Declaratory Resolution and Development Plan for the Old Meridian Street Economic Development Area. Bruce Donaldson, with Barnes &Thornburg, stated this relates to a resolution approved in August regarding the Olivia on Main project at Old Meridian and Main Street. Mr.Donaldson stated this has since gone to the Plan Commission and City Council for approval and the public hearing and related resolution before the Commission tonight are the final steps in the process. The public hearing was opened at 8:07 a.m. No one was present to speak in favor of or in opposition to this item. The public hearing was closed at 8:08 a.m. Approval of Resolution confirming amendments to the Declaratory Resolution and Development Plan for the Old Meridian Street Economic Development Area. Mr. Worrell moved to approve Resolution 2014-18, seconded by Mr. Brooks. Passed unanimously. Approval of Resolution pledging TIF revenues to the payment of City of Carmel Economic Development Revenue Bonds. Mr. Donaldson gave background on this resolution. Mr. Donaldson stated this has gone through and been approved by the Economic Development Commission as well as the City Council and that approval tonight is the last step in the process. Mrs. Meyer noted the Council Finance Committee chairwoman and the CRC worked closely with the developer to negotiate a deal and that they also worked closely with the City Council to ensure that questions were answered and enough detail was provided. 1 CRC Meeting, October 30, 2014 Ms. Matthes noted that these bonds will be purchased by the developer. Discussion ensued. Mr. Brooks moved for approval, seconded by Mr. Worrell. Approved unanimously. Approval of Preliminary Bond Resolution relating to the City Center Phase II (Pedcor) project Mr.Donaldson outlined and gave background on the preliminary bond resolution. Ms.Matthes presented the related financial schedules and detail. Discussion ensued regarding the debt structure. Mrs. Meyer reiterated that this is a preliminary resolution and that there will be other approval steps relating to this item going forward. Mr.Brooks moved to approve Preliminary Bond Resolution 2014-20 for the issuance of bonds of the City of Carmel to pay for the cost of various projects for the City Center Phase II and incidental expenses in connection with the issuance of the bonds, seconded by Mr. Worrell. Mr. Worrell noted that he thinks it is important to build a parking garage that will support the density of the project, which increases the assessed value. Unanimously approved. Approval of Claims Mr. Lee requested approval of non-operating claims in the amount of$33,845.88. Brief discussion ensued. Mr. Hammer noted that all of the legal bills now go through the Legal department for review. Mr. Worrell moved for approval, seconded by Mr. Brooks. Passed unanimously. Adjournment Mr. Worrell moved the meeting be adjourned pending the execution of documents and seconded by Mr. Brooks. The meeting was adjourned at 8:46 a.n1. The next regularly scheduled meeting is Wednesday,November 19, 2014. The CRC Finance Committee will hold a public meeting on Tuesday,November 18, 2014. 2