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HomeMy WebLinkAboutCRC-11-19-14 CARMEL REDEVELOPMENT COMMISSION AGENDA WEDNESDAY,NOVEMBER 19, 2014—6:30 P.M. COUNCIL CHAMBERS/CITY HALL/ONE CIVIC SQUARE MEETING CALLED TO ORDER 1. PLEDGE OF ALLEGIANCE 2. PUBLIC HEARING 1: Resolution Amending the Declaratory Resolution and Economic Development Plan for the Legacy Economic Development Area 3. PUBLIC HEARING 2: City Center Phase II Bond 4. APPROVAL OF MINUTES a. October 15, 2014 b. October 30, 2014 5. 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 6. EXECUTIVE DIRECTOR REPORT 7. COMMITTEE REPORTS a. Finance Committee b. Architectural Review Committee 8. UPDATE ON PROPERTIES 9. OLD BUSINESS { a. Action Item #2: Acceptance of Bid for 3rd Avenue Property Purchase and Development b. Action Item #3: Approval of Confirmatory Resolution 2014-21 Amending the Legacy Economic Development Area 10. NEW BUSINESS a. Action Item #4: Approval of Resolution 2014-22 re: Amendment to Lease Agreement between CRC and Redevelopment Authority b. Action Item #5: Approval of Resolution 2014-23 re: Intergovernmental Transfer of Property (130 1St Ave SW) c. Action Item #6: Approval of Settlement Agreements 11.OTHER BUSINESS 12.EXECUTION OF DOCUMENTS NEXT REGULAR MEETING: Wednesday, December 17,2014, 6:30 p.m. 13. ADJOURNMENT CARMEL REDEVELOPMENT COMMISSION November 19,2014—6:30 p.m. Council Chambers, Second Floor, Carmel City Hall Commissioners' Notes Discussion Matter Call to Order 1. Pledge of Allegiance 2. Public Hearing 1: Resolution Amending the Declaratory Resolution and Economic Development Plan for the Legacy Economic Development Area 3. Public Hearing 2: City Center Phase II Bond 4. Approval of Minutes a. October 15,2014 b. October 30,2014 5. Financial Matters a. Cash Flow Report • The EOM October balance: o Cash -$1,325,291 o Cash and Restricted Funds -$3,213,483 b. Update on Outstanding Receivables c. Approval of Claims The invoices submitted for approval by category are as follows: • Non-operating Expenses: $564,821.82 • PAC Construction Fund: $62,164.37 d. Special Matter i. Action Item#1: Approval of Change Orders 6. Executive Director Report 7. Committee Reports a. Updates,if applicable,will be presented by the committees at the meeting. Requirements:None at this time. 8. Update on Properties(other than negotiation and litigation matters) a. Please see the attached document for the CRC project updates. 1 9. Old Business a. Action Item#2: Acceptance of Bid for 3rd Avenue Property Purchase and Development b. Action Item#3: Approval of Confirmatory Resolution 2014-21 Amending the Legacy Economic Development Area 10. New Business a. Action Item#4: Approval of Resolution 2014-22 re: Amendment to Lease Agreement between CRC and Redevelopment Authority b. Action Item#5: Approval of Resolution 2014-23 re: Intergovernmental Transfer of Property(130 1st Ave SW) c. Action Item#6: Approval of Settlement Agreements 11. Other Business 12. Execution of Documents a. Next Regular Meeting,Wednesday,December 17,2014,6:30 p.m. 13. Adjournment 2 -, � �; '.tvs Project Updates CITY CENTER e Developer Partner: Pedcor Companies • Allocation Area: City Center • Project Summary: Use: Mixed-Use :� C ARMEL C ITY C ENTER PROPOSED SITE PLAN 9 8 14 ara -E)E z r s ^4. ess . "- ...cc� fi . '�"� ,,,'z * �` r CITY CENTErc6;4: d € a , t v ..„ft,,,,,,,... / F ' .E�y sac x s . a.'� s"" 'A miliiP ® +. tl ❑004 i ;! eaa�as�r��a$a •en ` 4� r, �< .= r'"` o" ❑add #'� .:! ®a1 iit 114 m1 8.MT:.'t 1.,. ^ A' `-- r .':..a 0©,., �•. C a -. � !` h .� ''.=wrnouwxctl m101 e£nn) m1 Wi o0 i 1 ,' -,..."24 o f,�� i = s vuac �' ® it ii ',�� s.., y �''' a= �,° ® `�` i p�� �.to= tc y t � :s. 1 L. ) b MYAr. L® ii rq i. 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Figure.t.City Center Master flan,provided try i>erlr;or City Center Dcv�<(rs srnent Company Page 5 October 23,2014 CRC Report for November 3,"2014 City Council Meeting s P + ' e 3 :ems �' Phase 1 -complete 1) Apartments--Apartment demand remains strong which supports the occupancy and rental rates. Gun-cot occupancy is at 96%. 2) Retail-Currently,Pedcor 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 in the fall of 2014. Nash Building/Parcel 73 1) Project Status-under construction ����� g _ 1 2 ,iti' 9 a) '1'he Nash underground parking garage is 95%complete.and currently its fa ' �'� 4•, i on budget. The Nash Building storefront/glass installation continues. 1ea. a_ li ;': Balcony, masonry,&EFIS work continues on the exterior `1'h project i i i ri is on budget and remains on schedule,with an anticipated completion ,, �' date of fall 209 4. Approximately half of the 9,000 sf of the retail space ti` i has been leased with strong prospects for the remaining commercial ., ka6 %I 114:1110 <; . space. Tenant: Mondana Kitchen . Pr€wided9 by Pe€t(Jeor City Center Dec.Co.'1 2) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None 3) CRC Commitments Provide strec'tscope along Rangelinc Road, a) Budget Budget Design/ Engineering $5,000(majority of contract pd in 2013)per June'1.4 Budget Additional potential revenue to be assigned to this project I $.1.37,1.79 Construction 1 $100,000 per Iune'14 Budget Available funds for construction project due to I increased revenue $242,1.79 b) Design Consultant: American Structurepoirit October 23,201.4 CRC Report for November 3,2014 City Council Meeting P a g e 16 c) CRC Commitment Schedule Design's C()Tnplete 1. 100(,is, Construction Start Late 1 October 201.4 1 Anticipated Project Completion ' November 2014 fl Phase 2 1) Project Status-designs are schematic and construction has not started. a) In addition to the Reallocation request,a request to issue`MP Bonds to fund pub lic improvements Oil the Phase 2 site has been submitted. With timely successful approvals, construction will begin in 2015 on the seven (7) buildings noted below. 2) Proposed Construction/(Ise Sequence PROJECT USE PROJECT DESIGN RENDERINGS, START DATE 'cz v:rs=ri By PEr)c0iz. CAarage 1 flu ee k( low stt}i parkin} sti uc turc'"s�ith l all 201 1 „.•Park East approhin ately 470 to 625})u ing spa(es, (g<u agc only) 24`4' 4shich wl[l incicule up to approxlrrrately 4�_ ?€ ,- .= 28 000'qu Tr e.fec t of luxury ap rtnielit lg, iii,tieoffitiercia1117etail/nfpice1rjiace. 7 4.,,'7,,,,1„,.:.:I:D„1,.:i,„::..:,, Biildr.tn/ A Foul stor v building of ipproxin)atell Spring 201 S w x C hambers fill 00()sc urine kit whi(h !(-ill mclucle ,,,emu q tI [• } p N 1, E 1 �P lukur� Tpartrnclti4 anti Eonuriei-(lal - ( �� kki retail/office spate Pedtor Is cw rentl} r* ; '° � ' working with loth corny i civil tiusinLsses ,, ,>tA . �_ zvho sa-ill o ccupy approxim tcly'21,000 sf of"" t s ` Holland A five story building of ppro\imatd tall 2015 63.000 square fret which 1�ill induth "4« '° luxuryap<irtn)cnts,andtommcicil � , retail/office spade RtIIJ�.lin-�.,i°tt, , atyiil.; [ Wit{;i i�.- tUSE l3. r x!xis.—1't' t. s-"'t' , F , Playfait ; ....,..V fir e sto1 building of approximate, all 2{11 6 1 000 squ ire fp,t whu h v.ill iixludc %X F, ^ lu\ury ipiitn)cntsand(on)mixr(uil ic�tail/olt o 4l)<1((.,. GatageF Sic Cramgc L ist,;lot(,abov( } ill 2015 Retail 1 P October 23,2014 CRC Report for November 3,201.4 City Council Meeting (:i g e j 7 1 tom" -: ;E 1.+° �:'� A S ',Zf e�Wi P deaf A two Stoi U budding of�appi oxana<�tc,iy I all 20 i� Offn i S 20 000 s u-rc fctt whic h�ti X11 include,ottuc. spa€c fig , l rkgz tl2r I{errt �.iha€c stow Y bruldnag of al�prc>au3�ritc M al] 2(kl> 111111Miligt ° 11;1 000 squ ar€�fc€t of luxury spar tm�tat, ..ox -.1111 i � t^,,: Wen A seven story building,Of approxiniately Fall 20'16 8I,000 square feet,which will inc.ludf: ! � luxury apartments and commercial office/retail space. Windsor A four story building,of approximately Fall 2017 64,000 square feet,which will include luxury apartments and commercial office/retail space. Eastern A building,of approximately 76,000 to fall 20.1.7 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 TBD square feet:,which will include parking. October 23,201.4 CRC Report for November 3,2014 City Council Meeting P a g e 18 , ` - " 3 j Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC Reallocation of Carmel On-docket, 10/6/14 Introduced in September. Downtown Economic Resolutions 2014-14 and Public Hearing proposed in Development Area 20.1.4-1.5.At Finance and l.,and December. Use Committees. TIE Bond request On-docket, 11/3/14 Introduced in October. Public Resolution, Anticipate Hearing proposed in December. November Finance and Land Use Committee Meetings 4) CRC Commitments Additional informat ion concerning the proposed commitments will be shored with Council(it the November 3 meeting. Discussion will ensue and modifications will be made during the month of November Overall general commitments were introduced at the 10/6/14 Council meeting. They included: Pedcor Funds 10 Mixed-Use Buildings Retail Housing Office Hotel City Streets and Sidewalks Maintenance of Parking Garage TIF Funds Parking Garage Spanish Stairs/Gathering Pedestrian Connections CRC Funds Add-on Streetscape City Funds Maintenance on City Streets and Sidewalks October 23,2014 CRC Report for November 3, 2014 City Council Meeting Page 19 ,, ,,,,,, ::"Ap,".,n:;--1,1",ri:::: :44:-:;?:4-'''''''.ttf:....tiN"iit::: :,i4=iiQltzez$042,T4rat=i4-',,,r;ADN,"',5".Zairetilligirti: r...3 :''''"""""'"'"'''''''''- .6=7,7 ---•-,;:',4:•'fal:,._:::Ati,kY-F4?-1,, s"':::,''itiliorailtiri i,,,k'-',0410,ortrZ4giv:1:-rw4;V.421:10,1milloraww4.-:,:'''''.*:''''''''.ii3iiiiiii41371717r4:1;11-*':'54-Ir THE MEZZ/ MONON LOFTS ® Developer Partner: Anderson Birkla Allocation Area:City Center Project Summary: Use: Primary Residential. 42 residential units with 1.2,400 square feet of office. TotalI.rroje.ctbudget:: $;.7nim Secured Tenants:Fat Atom,Vocare,Anderson 8irkla -✓a '�y i� � l•I�,vh '�� t,h■ �t m `. g 5' K nvw5t ,..:,4:,;f:i''litti.F: lic.,:y::.:;,;,:v.:sy,i:!--tismj-=.55'.•:?:ti,::Aft•:-,-.'7,..roTmg-lm1:4-,•..,4-.:;,:i-,,,,,,,..•::.,vr..nit'itf.,,,,,,, :i•'-m--::'-i•i;0*-tri•;1‘4•Iatleform: �z cc, pity ra �: T��� �ac m r v a a , "s pr4ECE ix.tttriG raAW+GE 3 ,. rrs� v-... oaf !$t r �'xr a a h s` �: .a ' a �x'fr & t m&n 3 3 3� C 4 L �+ y } ",k t qce 4PPtCE _ h ,fir . 5 s, . \� 4. ,c, \k , �, ` ' l �'Z &AEi 0, z _ �^ d `fig `l> ,: e3�: 17 ELY Y •AAnn �.. t f, ; F- '*„ wp 4x 3Ew :cv c ri i, nk'4,,i1 L3.11 �-- mil' 3 0 , O4M1 tv. 4 m a ,=t eft .," vv +.«.i. - ^."s x a a f e t iwar 2 itii g=provided lry Andes am Bia icla • Anticipated Project Schedule Office Move In 1 N<.�yemt.�E r,20 1.i' Residential Move In November,2014 Project complete I.)ecenmlrer,2014 October 23,2014 CRC Report for November 3,2014 City Council Meeting • Page 10 kiit;-..c .:031-4,0T,tow:DTA „ow, Mezz Building(3 Avenue) l) PrnjectSt<ituo-uodcrnoostrocUon a) Building Framing is complete b) First floor steel framing io70%complete. c) Budding 1 MEP Plumbing Unit Rough is 85%complctid Llctncal Rough is 90% complete. Fire Suppression rough is lO0Y6 completed,H VAC Rough is95% completed. d) Building 1 Roof install is complete. e) Building I Tyvek,windows,&doors are complete. Storefront tc be complete in October ° Moiton Lefts Building(Motion side) l) yruectStutuo-oudnrconstrucbnn a) Building Framing io comp|eue. h) Building 2 -l\wek Windows,Doors complete. 1). .10.111111artetiffat u) Pio�Uuors�ee| �omioAis70Y�cou�p|ete. J) Building 2MEP Plumbing 2nd is90Y6 ;4.-i:;,,,,,,t..":111,z1,!?...17:Ar:,, 1.11, complete.Electrical rough is 90% comp|ute, HrvSuppresdunmo8b is 1OO96 complete.HKA[ rough is 95% cu/np|ete. e) Building 2 roof is 90%completed 2) Council and/or CRC Action Items A[T|$N UEM CITY COUNCIL CRC None Page � �1 October 23,2014 CRCKepnohoNnvemker3.%014Cky[muoilk�necng 9 .. » 3) CRC Commitments Provide parking spaces on 3r"Ave and Streetscape on the west and south side of the building and relocate street utilities.Site hnpr<ovements, 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-March'15. Calumet Site Construction $67,021 ('iru Ave) 1 Civil Contractors. Invoices are expected to be paid in Utility Relocation $250,000 December. Invoices are expected to be paid November-January'15. Midwest Site Construction $242,979 (site work) Constructors. b) Design Consultant:American Structurepoint c) Construction Contractor:Calumet Civil Contractors/ Duke Energy/ Midwest Constructors d) CRC Commitment Schedule Design %'I;F Complete .100°/ Construction Start Date September 2014 December for Midwest Constructors, March for Anticipated Project Completion Calumet Civil Contracts(due to asphalt being installed) Respectfirfly submitted, Cowie Meyer,AICP,RLA,LEED AP Director' Carmel Redevelopment Commission/Department October 24,2014 Prepared for David Bowers and Brad Meyer -End report- October 23,2014 CRC Report for November 3,2014 City Council Meeting P a g e 112