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HomeMy WebLinkAboutCRC-2014-22 Amendment to Lease Agreement /CRA & CRC RESOLUTION NO. 2014-22 RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION AUTHORIZING THE EXECUTION OF AN AMENDMENT TO A LEASE AGREEMENT BETWEEN THE CITY OF CARMEL RE'I EVELOPMENT AUTHORITY AND THE CITY OF CARMEL REDEVELOPMENT COMMISSION AND APPROVING CERTAIN MATTERS RELATED THERETO WHEREAS, the City of Carmel Redevelopment Authority (the "Authority") has been created pursuant to IC 36-7-14.5 as a separate body corporate and politic, and as an instrumentality of the City of Carmel, Indiana (the "City") to finance local public improvements for lease to the City of Carmel Redevelopment Commission (the "Commission"); and WHEREAS, the Authority, as lessor, and the Commission, as lessee, entered into a Lease Agreement, dated as of December 9, 2009 (the "Original Lease"), as amended by an Addendum to Lease dated as of January 13, 2010 (the "Addendum to Lease" and, together with the Original Lease, the "Lease"); and WHEREAS, pursuant to the terms of the Original Lease, the City agreed to use the proceeds received from the Authority in connection with the sale of the Real Estate (as defined in the Original Lease) for the purpose of paying the costs of acquiring and constructing certain local public improvements and economic development projects, all as more particularly described and prioritized on "Exhibit A" to the Original Lease, unless a different order of priority is approved by the Common Council of the City; and WHEREAS, on September 15, 2014, the Common Council of the City adopted Ordinance No. D-2177-14 (the "2014 Council Ordinance"), approving certain changes to the description and order of priority of local public improvements and economic development projects to be paid for out of the proceeds received by the City from the sale of the Real Estate; and WHEREAS, the Commission now desires to approve an amendment to the Lease, in substantially the form presented at this meeting (the "Lease Amendment"), for the purpose of amending "Exhibit A" to the Original Lease in order to reflect additional priorities and financial commitments of the proceeds received by the City from the sale of the Real Estate, as provided in the 2014 Council Ordinance; NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CARMEL REDEVELOPMENT COMMISSION AS FOLLOWS: 1. The Commission hereby approves the proposed Lease Amendment in the form presented at this meeting. The President or any other officer of the Commission and the Secretary of the Commission are hereby authorized and directed, on behalf of the City, to execute and deliver the Lease Amendment in substantially the form presented at this meeting with such changes in form or substance as the President or any other officer of the Commission shall approve, such approval to be conclusively evidenced by the execution thereof. 2. The officers and staff of the Commission, collectively and in their individual capacity, are hereby authorized and directed to take all such further actions and to execute all such documents as are necessary or desirable to carry out the transactions contemplated by this Resolution, in such manner or form as the officers or staff undertaking or executing the same shall deem proper, such desirability to be conclusively evidenced by the execution thereof, and any and all actions previously taken by officers or staff of the Commission or representatives of the Commission in connection with the foregoing resolutions, be, and hereby are, ratified and approved. 3. This Resolution shall be in full force and effect after adoption by the Commission. ADOPTED the 19th day of November, 2014. CITY OF CARMEL REDEVELOPMENT COMMISSION resident Vice President secia Wattgyojimi ....M14.--1.11-'" � Me : tf Member INDS01 BJB 1484391v1 2 EXIHI II:IT A ii ESCRIPTION OF THE PROJECTS The Projects consist of the acquisition by the Authority of the Real Estate from the City, and the use by the City of the proceeds of such sale to finance the following projects in the City, which shall be constructed in the following order of priority unless a different order of priority is approved by the Common Council of the City: 1. The acquisition of]Brookshire Golf Course by the direct retirement of outstanding bond anticipation notes of the Carmel Redevelopment District. ESTIMATED COST: $3,000,000 2. Improvements to the intersection of Keystone Avenue and 131St Street consisting of construction, inspection,utility relocation and land acquisition costs. ESTIMATED COST: $11,000,000 3. Drainage projects in the Village of Mt. Carmel and Chesterton. ESTIMATED COST: $2,000,000 4. Drainage projects in the Southwest Clay Township neighborhoods of Larkspur, Walnut Creek,Kings Mill,Bridlebome, Windemere,Crooked Stick and Crooked Stick West,to satisfy obligations under annexation agreement. ESTIMATED COST: $1,000,000 5. Multi-use path along 106th Street from Ditch Road to Michigan Road. ESTIMATED COST:$1,500,000 6. Intersection improvements consisting of roundabouts at 106th Street and Ditch Road, 96th Street and Towne Road,and 106th Street and Shelbourae. ESTIMATED COST: $1,500,000 A-i FIRST AMENDMENT TO LEASE AGREEMENT Between CITY OF CARMEL REDEVELOPMENT AUTHORITY LESSOR and CITY OF CARMEL REDEVELOPMENT COMMISSION LESSEE Dated as of November 19, 2014 FIRST AMENDMENT TO LEASE AGREEMENT THIS FIRST AMENDMENT TO LEASE AGREEMENT,made and dated as of this 19th day of November, 2014,by and between the CITY OF CARMEL REDEVELOPMENT AUTHORITY (the"Lessor"),a separate body corporate and politic organized and existing under Indiana Code 36- 7-14.5 as an instrumentality of the City of Carmel,Indiana(the"City"),and the CITY OF CARMEL REDEVELOPMENT COMMISSION (the "Lessee"), the governing body of the City of Carmel Department of Redevelopment acting for and on behalf of the City, WITNESSETH: WHEREAS,the Lessor and the Lessee entered into a Lease Agreement dated as of December 9,2009(the"Original Lease"),as previously supplemented and amended by an Addendum to Lease, dated as of January 13, 2010 (the"Addendum to Lease" and,together with the Original Lease,the "Lease"); and WHEREAS,pursuant to the terms of the Original Lease,the City agreed.to use the proceeds received from the Lessor in connection with the sale of the Real Estate (as defined in the Original Lease) for the purpose of paying the costs of acquiring and constructing certain local public improvements and economic development projects,all as more particularly described and prioritized on"Exhibit A"to the Original Lease,unless a different order of priority is approved by the Common Council of the City; and WHEREAS, on September 15, 2014,the Common Council of the City adopted Ordinance No. D-2177-14 (the "2014 Council Ordinance"), approving certain changes to the description and order of priority of local public improvements and economic development projects to be paid for out of the proceeds received from the sale of the Real Estate; and WHEREAS, the Lessor and the Lessee now desired to amend "Exhibit A"to the Original Lease in order to reflect additional priorities and financial commitments of the proceeds from the sale of the Real Estate received by the City consistent with the 2014 Council Ordinance; NOW THEREFORE, in consideration of the premises, the covenants and agreements hereinafter contained,and for other valuable consideration,the receipt and sufficiency of which are hereby acknowledged, the Lessor and the Lessee agree as follows: 1. Amendment to Description of Projects. "Exhibit A"to the Original Lease is hereby amended to add a new subparagraph number seven (7) thereto, which shall read as.follows: "7. Improvements to Main Street between Illinois Street and Guilford Road. ESTIMATED COST: $600,000" 2. Reaffirmation of Lease. Except as.otherwise provided herein, all terms,conditions and provisions of the Lease, as previously supplemented and amended, are hereby ratified and affirmed. 3. Effective Date. This First Amendment to Lease Agreement shall take effect as of the date first above written. 1 IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Lease Agreement to be executed for and on their behalf on the date first written above. LESSOR: LESSEE: CITY OF CARMEL REDEVELOPMENT CITYOF CARMEL REDEVELOPMENT AUTHORITY COMMISSION By: Ro ,,k1 By: A , President Presiders V I ATTEST: ATTEST: ibl • etary-Treasurer ecre ary CC, 2 CALOE ■ i=t i BA ALL.PURPOSE POSE AC [ N Cf WLE 4)ORCE NT State of California County of So`^o�� On P a " S - t -t before me, Alex Hau, Notary Public Date Here Insert Name and Title of the Officer personally appeared tact M _i- Name(s)of Signer(s) who proved to me on the basis of satisfactory evidence to be the person whose namej,z5 is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/hefft teir authorized capacity(ieg), and that by his/hersignature(s) on the instrument the person(4, or the entity upon behalf of • ALEX HAU ` which the person(s) acted, executed the instrument. COMM.#2085047 m " :Y1°1, NOT�oP I certify under PENALTY OF PERJURY under the laws rr:, My Comm.Expires Oct.5.2018 . of the State of California that the foregoing paragraph is true and correct. WITNESS my hand .• . o seal. Signature Place Notary Seal Above p�q Signa ire of Notary Public OPTIONAL Though the information below is not required by it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: • Capacity(ies) Claimed by Signer(s) Signer's Name: Signer's Name: ❑ Individual ❑ Individual ❑ Corporate Officer—Title(s): ❑Corporate Officer—Title(s): ❑ Partner—❑ Limited ❑General - _ 0 Partner—❑ Limited ❑ General RIGHTTHUMBRINT ,RIGHTTHUMBI;RINT! ❑ Attorney in Fact == QF SIGNERit 1 ❑Attorney in Fact ' O lsaltR i r El Top of thumb here ❑Trustee Top of thumb here ❑ Guardian or Conservator ❑Guardian or Conservator ❑ Other: ❑Other: Signer Is Representing: Signer Is Representing: ri ve.'J:✓: '✓: 4�'�.:�:�5�4�y.�.�"J,:'ar..�y.'✓•✓.:'ri:'ar,.wsw v:w4v✓:C✓�.`%.v:x✓L✓sw4 w,6✓:fir.✓.6V:✓.w3—.,4,:te✓:C✓6v.'✓xw:C✓6C✓:C✓ ©2007 National Notary Association•9350 De Soto Ave.,P.O.Box 2402•Chatsworth,CA 91313-2402•www.NationalNotary.org Item.#5907 Reorder:Call TollFree 1.800.876-6827 STATE OF INDIANA ) ) SS: COUNTY OF //).im Before me, the undersigned, a Notary Public in and for this City and State, personally appeared Robert B.Bush II and Jack Badger,personally known to be the President and Secretary- Treasurer, respectively, of the City of Carmel Redevelopment Authority (the "Authority"), and acknowledged the execution of the foregoing First Amendment to Lease Agreement for and on behalf of the Authority. /�L WITNESS my hand and notarial seal this M day of /Z.lih'zm(22q ,20/ 4 (Written Signature) (Seal) (Printed Signature) Notary Public My Commission expires: My county of residence is: -- //' �� /T -m, 3 STATE OF INDIANA ) ) SS: COUNTY OF \A NI)\i,1 6 P ) Before me, the undersigned, a Notary Public in and for this City and State, personally appeared William Hammer afid-B-radt ; personally known to be the President and &eeretaiy,respectively,of the City of Carmel Redevelopment Commission(the"Commission"),and acknowledged the execution of the foregoing First Amendment to Lease Agreement for and on behalf of the Commission. WITNESS my hand and notarial seal this j`1 day of IV,,J2 rnA.tr , 20L. (Written Signature) (Seal) rithkt\ Le e (Printed Signature) Notary Public My Commission expires: My county of residence is: I - 17- 11 1 I affirm under the penalties of perjury,that I have taken reasonable care to redact each Social Security Number in this document, unless required by law. cy/..-------_______Th truce Donaldson This instrument was prepared by Bruce D. Donaldson, Esq., Barnes & Thornburg LLP 11 South Meridian Street, Indianapolis, Indiana 46204 INDSOI BJB 1484368v1 4