The URL can be used to link to this page

Home My WebLink AboutCRC-02-18-15 CARMEL REDEVELOPMENT COMMISSION AGENDA WEDNESDAY, FEBRUARY 18, 2015—6:30 P.M. COUNCIL CHAMBERS/CITY HALL/ONE CIVIC SQUARE MEETING CALLED TO ORDER 1. PLEDGE OF ALLEGIANCE 2. PUBLIC HEARING 1: Resolution Establishing New TIF Allocation Areas in Carmel Downtown Economic Development Area 3. PUBLIC HEARING 2: Resolution Establishing New TIF Allocation Areas in City Center Redevelopment Area 4. APPROVAL OF MINUTES a. January 23, 2015 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 10. NEW BUSINESS a. Action Item#2: Approval of Resolution 2015-1 Re: Confirming establishment of new TIF allocation areas in the Carmel Downtown Economic Development Area b. Action Item#3: Approval of Resolution 2015-2 Re: Confirming establishment of new TIF allocation areas in the City Center Redevelopment Area c. Action Item#4: Approval of Final Bond Resolution 2015-3 Re: authorization of Redevelopment District bonds to fund City Center Phase II projects d. Action Item#5: Designation of Commissioners to sign City Center Phase II documents 11.OTHER BUSINESS 12.EXECUTION OF DOCUMENTS NEXT SPECIAL MEETING: Thursday,February 26, 2015, 8:00 a.m. NEXT REGULAR MEETING: Wednesday,March 18,2015,6:30 p.m. 13. ADJOURNMENT CARMEL REDEVELOPMENT COMMISSION February 18, 2015—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 Establishing New TIF Allocation Areas in Carmel Downtown Economic Development Area 3. PUBLIC HEARING 2: Resolution Establishing New TIF Allocation Areas in City Center Redevelopment Area 4. Approval of Minutes a. January 23,2015 5. Financial Matters a. Cash Flow Report • The EOM January balance: o Cash -$4,898,231 o Cash and Restricted Funds-$8,728,605 b. Update on Outstanding Receivables c. Approval of Claims The invoices submitted for approval by category are as follows: • Non-operating Expenses: $8,975.00 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. 9. Old Business 1 10. New Business a. Action Item#2: Approval of Resolution 2015-1 Re: Confirming establishment of new TIF allocation areas in the Carmel Downtown Economic Development Area b. Action Item#3: Approval of Resolution 2015-2 Re: Confirming establishment of new TIF allocation areas in the City Center Redevelopment Area c. Action Item#4: Approval of Final Bond Resolution 2015-3 Re: authorization of Redevelopment District bonds to fund City Center Phase II projects d. Action Item#5: Designation of Commissioners to sign City Center Phase II documents 11. Other Business 12. Execution of Documents a. Special Meeting: Thursday,February 26,2015, 8:00 a.m. b. Next Regular Meeting:Wednesday,March 18,2015,6:30 p.m. 13. Adjournment 2 N �w�� _ Project Updates CITY CENTER • Developer Partner:Pedcor Companies • Allocation Area:City Center • Project Summary: • Use: Mixed-Use C ARMEL CITY C ENTER PROPOSED SITE PLAN 12 8 14 e,, " . I+ '��"r. tQ p s wo"'. Y'� � F3'a, air 9y xw �,e.- - m .,.2 «.e.` sqS. e " '7 ,� �� ' f,..,- ",„',,e" 7EAl3 iEaFE� #D.?" �� '� &' %yam ' Y„.3,4-7-----,,,,,74.4,x ura . ';'-•=1 a x i s'L4sn%',,,, .- 4 i ae;„.r,,,,,- CiTY�TEa DiUVE �y} �� 1.-4.. ..',:—-: .It , � j'-.4.� � $ .. � ( k r roa o0o cuHU*o'.l f s° a z. ,g'.. ., kE ° ° ' wrtm (rlo.lr.q .6 �{ ! 3 - �... i a 4 r Ask. lam:, € '��r3 3 - JP E ,��yOMyIy�R R1�k 2 1 I £,y �1 "`C;,n ,�,4,ni, "¢ it y:---1,01,1',-!.i.' Pi'.' -.IV,. '''''' , S, :IN*114::; E1. Ipl P1111•LLMI : J -v. r :'1:11147 tOt0U4 5 ; rid 7�,� i t -.�MNlii4t � osv � '" 'q at ! o!' t -suuosw4 TI , ` Q, (Q�a � ice• YT i .'. .L a� r' x � : 1,1 - e a`} �? f�A 'E{ t 47t s d •" g�H� x st y z � ` ,Y¢ � .,1.w as u ' . t. , �� fi 5 e z C -:a aC 9 d,,9, - y d. 4 ,4' "" cc ', ''-=, s ?a g ��€�� 8y-8 �3�p°ii �� ,:,� , . $$!((j''!!�y��}}jj.. app/ i+x {` `� TL .I --1 ti 'M StrX '� L�OMLY�'f!R i_ ,w,i..„4„..y.,...,„, ,,,.... .... nlo.. ie.l y�E !`;� .,.'.' .wx s 1 r� v� ,�+ q „ # s, I1Ht ru w.ioolc ( °3'rr€.n 3 r.rt rw.t.r4row 'S""T-�: `4- �� '� 1-sI ., _ -H ~'t =.� o v°':�'W k ea Ii .Ew we F ' .MR WEST 3 ':� (�' ane flu@ 4,X?; oh r i e`i s1� ti .-t ° 61 ` '''`-' ' 4� az s wY w �� 1� sc^ E �" .'NONOi1 GREEN,- '� �� x}dVr7tfua�4 dN3's» :::a''V11 iCi k rr maf�b ill':+,�, .i t c ,*1-0'i*, : g 3 "' - �y - . lit,: fl ,C.R- LCtn Ci-'4-'''F::,.. OEVEIOP.." rY n4:410;;1,.- +�i .. x @yam ( 0, y ��.,'�' 6 1 k£$ _- aa '. - tt v:+°it.+d,R 3l.&¢ 4„ - i'it,rrr e I Cite Center 14t:€ster t'tan,in of irler7 t,rp Perlcr�r City Center Develop/Ile Company any January 23,201.5 CRC Report for February 2,201.5 City Council Meeting Page ' $ TARROYECTVIVIR • Phase 1-complete 1) Apartments-Apartment demand remains strong which supports the occupancy and rental rates. Current occupancy is at 96%. 2) Retail -Currently,Pedcor leases 95%of the total 79,570 in LSF. The remaining 5%(the old Mangia and Holy Cow)of unleased space have future tenants for them,and are working through the space planning process. A new Irish pub will be locating in the space next to Matt the Millers on the Rangeline side. Pedcor anticipates to be 100%leased in 2015. • Nash Building/Parcel 73 1) Project Status-under construction , a) The Nash underground parking garage is complete. Balcony,masonry { &EFIS work continues on the exterior(about 90%complete). The a)�s " �g1 »wa JC' 1 i.t, project is on budget,with an anticipated completion date of January 2015. Approximately half of the 9,000 sf of the retail space has been 444 1 ^,: leased with strong prospects for the remaining commercial space. 2 � , . Tenant: Mondana Kitchen 2) Council and/or CRC Action Items t'roviciedbyt'edcsrr City(cnt.cr Dee.Co.1. ACTION ITEM CITY COUNCIL CRC None 3) CRC Commitments Provide streetscape along Rangeline Road. a) Budget I Budget ( E � Construction I $237,179 b) Design Consultant:American Structurepoint c) CRC Commitment Schedule Design%Complete 100% Construction Start Datc. October 2014 March 2015 (landscape to be I Anticipated Project Completion completed in early Spring? 2015). January 23,2015 CRC Report fo'r February 2,20.1.5 City Council Meeting P a g e 16 „,,i'...,,,.1,..P*.s.4,.,,,I:,,,:,,,..,<",411%1;7::`,,,,,,,,”,,,,,,e1,4/.— ‘iiR,-'' .... .:1Watijati).------ ® Phase 2 1) Project Status designs are schematic and construction has not started. a) Engineering will begin on the buildings proposed to begin construction in 2015. b) Schematic drawings for Park East,Baldwin/Gliaint�ers,veteran's Way extension,and the site have been submitted to the C:RC:Architectural Review( .tumittee. 2) proposed Construction/Use Sequence PROJECT USE PROJECT DESIGN RENDERIN S DATES PROVIDED BY['LDCOR Garage A{otu St��i y p ii king strcu turn y�ith no is Sti l)csigrf i Park East than 620°parking spaces which win n cludc Q1 2015 � ��;U o i oxrm itc I r 2 : 00 s urc, fet f g a t 3 r p F?P, ) 1_ Lonstrtrctron.,� ,f,� commercial I etail/office spaces 2 20:16 � "�' '_ C'omplction i� �r � w�i1 , In , Q4 201.7 Baldwin! A lour stir tsuil(lin of a i oxfrnately Start S n in ` "` Chambers 64,000 Squ rr c feet 4�hip h will inclucic 2015 .',,,.„�� n ` luxui v apra trric,rit' and cornruci ual I ' retail/office Space.. Pecicctr is currently Completion I5�- }� . working with folic commercial:businesses Q4 2()17 ' " tltc`comicx copy 4appi oxim ate ly 14,(){?() st o{ ,,�£ � �� '��,�s a �� erclal space Holland A five Stole building of�ippioximatc ly° Start I'dl 201 ti b „A 63 000 'q:luai c fcct �, hid will includes , _ � tuxui y ap nr tic nts and commcl ci al � 4~ 11 ictail/officespacc., .,,,: Rlalii ' if; i1,il ,. C omplc tion Q4 �,' In i L� i`w Q�p�ik ma ss ; i' x►: f( Plavfarr - A!hvi story 1building ofF`rappro\ mately Start fall 2t)15 . j .. b. 000 sgii rrc feet ti�,h>ch will:include' (ompktion luxui 4 apartrncnts and,.,connnei cia1 Q4 2(}17 retail/vffice space. , ` Garage. Sce(,arcigc Last lotc abo-;6 .-i SGilt: f,all 20.15 Retail ` C om lctron Q4 2017 Pedcor A two story building otapproyimately Start hail 2015 Office 5 2{)000 sqi nit. feet v hich�vill'include:affuc• '.',''',.§P:.., -.--:' Complktion . � � ., '.Q9 2017 ( 1 >fil a: January 23,20:1. CRC Report for February 2,2015 City Council Meeting Page 1 7 e 4 :. � t,va�..� �s.a:.�,' c.. saw °:x �,„�`� �� a; _ _ .--e' Kent A three stor Y budding of appro' rmately Start 1 all 2015 { 111i0001silangeir6eppl lutiury apartments ,,4,_ Completion ,1 Q4 2017 . M -''1,. . Wt en A seven story building,of approximately itcly Start: Fall 2016 �� 88,000 square feet,which will include �" IV luxury apartments and commercial t Y Completion r t 4 t k yY office/retail etarl space. .RR f1 r or Q4 2018 ' a c ([ & , W 4 E -a m;yzr f1 c I i , Windsor A four story building,of approximately Start:: Fall 2017 64,000 square feet,which will include Completion luxury apartments and commercial Q4 2019 office/retail space. Eastern A building,of approximately 76,000 to Start: Fall 2017 Motor 91,000 square feet,which will include Court Site luxury apartments and commercial Completion office/retail space designed so that in the Q4 2019 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 Start:T1.3I) square feet,which will include parking. 3) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC Reallocation of Carmel Approved, 12/15 February,hold a public hearing Downtown Economic to establish the new allocation Development Area areas and then adopt a Confirmatory Resolution. • TIF Bond request Approved, 12/15 February,adopt the final Bond Resolution. 4) CRC Commitments An overview of commitments have been uploaded to the CRC website. a) The CRC commits to publicly bid a four-story parking garage with not less than 620 parking spaces. b) The CRC commits to coordinate any significant site plan changes requested by Pedcor with City Council. January 23,20.1.5 CRC Report for February 2,20.1.5 City Council Meeting Page 18 npg 11..,,' '''''''1, .14'ii?te:Mitift*:• .''''''''''. . .. ;t4,,,. .11.44\'h;:;;;;;Ortf.V‘, :ittYrdiaMak"' r THE MEZZO MONC)N LOFTS �� • 13ecreloper Farther: Anderson Rirtcla ��" " V.', r Allocation Area:City Center project Summarcr: �� • Use. Primary Kesidentiat. 42 residerrtial units pith ?t r y Y S,:i00 square feet of o{Mice. s X- , I • 'rota Project budget: $7.7mm „ �,', r, • Secure(i Tenants.A fitness comp any,Anderson } r FU Birtcla Ii x �� +� �� a. � �'rtk !�q� -e� 1 ,�cat� a °� �, ` �1ra > ir .111 r �vF 1 s '°� .s. d �4 �� .l'� •3 i I <'` '' t w "` F a ' � � r 1 5 ''' * ,, � 4� a - t o e � r'�. � {$j# "� _� � -.� -r �:6-H• OFFICE - PARJCING 6ANA4E a �� n ti.. '-'-•:., S•S `''fit,-'� 5 � I' .. g. r x s's wan;_. �� e v f R°. CEK .. a,I',., ,•fh `i,,, I,4... u i y s >r-, h4 s�`6&+.cx C 1w1z` •-,,f- �w•v ,� ML i�i 5'+� °j�� C ., - � �, 3Ka� _ �� "5 w't,'-1...,:.::-,"• �tT+ 3 +ea „ l..._. ..is x '''' '' ''''''''.:4.4.i. ,. .n ' i.:- �,7 °' "- --,- � ,. z. .��:mot. .� #`. _ .: .> Figure 2 Image provided by t#rtdelsun Birkl.t ® Anticipated Project Schedule Office Move In ; March 2015 Residential glove In March,2015 Project complete March 31,2015 January 23,2015 CRC Report port far t e.t.�ruary 2,2015 City C ouncil Meeting 1' a g e 9 lt;E?',"OWJIIPggllLC4A :"''Ltq4.4‘46itr:ttktltPNAJ,_.4 PI,YanitiRea 1) Construction Milestones PROGRESS SS tit'WIN G 1 MASONRY Exterior masonry work.in progress at W. E S Elevations DRYWALL&PAINT 1st coat is complete:at floors 2_5 Metal framing at 1st florlr.is !FRAMING nearly complete I MECHANICAL ELECTRIC L& Start installingfurriacesWith I I PLtI:\:t13ING units this week; ula pING:2 lt1SOT\IRY Exterior wall to asonry work_in. progress at.Last elevation Drywall finishing in:p ogtess:at; DRYWALL& PA1N`T' floors 2&3. Painting in progress on floors 4&5. Duke Energy brought t I:LIT'!RI(AL pe,t iiiailc.nt power into the talcs : 1/20/1:5 r Metal Framing at 1st floor is. Clearly complete Misc.overhead MT P rough-in j l�IVAC work at the ist floor:is in progress. 2) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None 3) CRC Commitments Provide parking spaces on 3'(1 Ave and streetscape on the west and south side of the building and relocate street utilities.Site Improvements,Morton Connection path,Small pocket park(by developer) a) Budget January 23,2015 CRC Report for February 2,2015 City Council Meeting P age ( 10 ticw4-;Asiasfir-iiiimptzeltsooliporo.:6,0100mosNr..5majw,:ierriQor!„:,-Niewvil,,,,,, 111 €ASTIMERDAli Invoices are expected to be paid February-March`.1.5. Calumet Civil Site Construction I $67,021 PH Ave) I Contractors, Invoices are expected to be paid in Utility Relocation $250,000 Jan-March 2015. Invoices wire expected to be paid December-March '15. Midwest Site Construction I $242,979 (site work) I Constructors. b) Design Consultant:American Structurepoint c) Construction Contractor:Calumet Civil Contractors/Duke Energy/Midwest Constructors d) CRC Commitment Schedule Design %Complete . 1.00% Construction Start Date I September 2014 February for Midwest Constructors,March for Anticipated Project Completion Calumet Civil Contracts(due to asphalt being installed) Respectfully submitted, Corrie Meyer,AICP,RLA,LEED AP Director Carmel Redevelopment Commission/Department January 23,2015 Prepared for David Bowers and Bob Dsalzell -End Report- January 23,2015 CRC Report for February 2,201.5 City Council Meeting Page ( 11 CRC Meeting, February 18, 2015 CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday, February 18, 2015 ATTENDANCE: President Bill Hammer Present Vice President Dave Bowers Present Secretary Jeff Worrell Present Treasurer Diana Cordray Not Present Member Bill Brooks Not Present* Member Robert Dalzell Present Executive Director Corrie Meyer Present Office Manager Michael Lee Present Legal Consultant Karl Haas Present Bond Counsel Bruce Donaldson Present *It is noted that Commissioner Brooks participated in the executive session via phone conference and viewed the live stream of the public meeting. President Bill Hammer called the meeting to order at 6:33 p.m. The Pledge of Allegiance was said. Public Hearing 1: Resolution Establishing New TIF Allocation Areas in Carmel Downtown Economic Development Area Mr. Donaldson, bond counsel with Barnes&Thornburg, stated this item relates to the declaratory resolution the Commission adopted in September. Mr. Donaldson stated this has been approved by the Plan Commission and City Council and that tax impact statements were prepared by Umbaugh&Associates and sent to the taxing units. The public hearing and confirmatory resolution this evening are the final steps in the process. The public hearing was opened at 6:36 p.m. No one was present to speak in favor of or in opposition to this item. The public hearing was closed at 6:37 p.m. Discussion ensued. Public Hearing 2: Resolution Establishing New TIF Allocation Areas in City Center Redevelopment Area Mr. Donaldson stated this action is similar to the matter in the first public hearing but pertains to an area within the existing City Center Redevelopment Area and,thus,requires a separate resolution. The public hearing was opened at 6:38 p.m. No one was present to speak in favor of or in opposition to this item. The public hearing was closed at 6:39 p.m. Discussion ensued. Approval of Minutes January 23, 2015: Mr. Worrell moved to approve, seconded by Mr. Bowers. Approved unanimously. 1 CRC Meeting, February 18, 2015 Financial Matters Mr. Lee stated the end of month January balance of the Commission totaled $4,898,231 and $8,728,605 with restricted funds. Mr. Lee noted this is after all the semi-annual bond payments have been made. Mr. Lee gave an update on outstanding receivables. Approval of Claims Mr. Lee requested the Commission approve non-operating claims in the amount of$8,975.00. Mr. Bowers moved to approve payment of non-operating invoices in the amount of$8,975.00, seconded by Mr. Dalzell. Passed unanimously. Approval of Change Orders There were no change orders to come before the Commission. Executive Director Report Mrs.Meyer gave an outline of the CRC annual report that summarizes the 2014 year and stated it will be posted on the website and distributed to City Council members. Discussion ensued, including proposed revisions and updates for the report. Consensus was given to distribute the report with the discussed changes. Mrs.Meyer gave updates on the Duke Energy monthly meeting, CRC Treasurer monthly meeting and the Sophia Square parking garage. Committee Reports Mr. Worrell stated the Architectural Review committee met on February 3, 2015 to discuss City Center Phase II plans. Mr. Bowers gave an update on a Finance Committee meeting held with representatives from London Witte Group and Pedcor relating to Pedcor's financial commitments associated with the City Center Phase II project. All obligations were met. Update on Properties Mrs. Meyer gave updates regarding City Center,The Mezz and The Nash as well as the status of the reflecting pond reconstruction. Old Business None at this time. New Business Approval of Resolution 2015-1 Re: Confirming establishment of new TIF allocation areas in the Carmel Downtown Economic Development Area Mr. Hammer stated this relates to the first public hearing and is the final step in the process, as outlined earlier in the meeting. Discussion ensued. Mr. Bowers moved to approve Resolution 2015-1 confirming the amendment to the Declaratory Resolution and Economic Development Plan for the Carmel Downtown Economic Development Area. Seconded by Mr. Dalzell and unanimously approved. Approval of Resolution 2015-2 Re: Confirming establishment of new TIF allocation areas in the City Center Redevelopment Area Mr. Hammer stated this relates to the second public hearing held earlier in the meeting. 2 CRC Meeting, February 18, 2015 Mr. Worrell moved to approve action item#3 re: the Declaratory Resolution and Redevelopment Plan for the City Center Redevelopment Area. Seconded by Mr. Bowers and passed unanimously. Approval of Final Bond Resolution 2015-3 Re: authorization of Redevelopment District bonds to fund City Center Phase II projects Mr. Donaldson stated this relates to a preliminary bond resolution adopted by the Commission to fund City Center Phase II projects. Mr. Donaldson stated this action has been approved through the City Council Finance Committee and that issuance of the bonds was approved by the City Council at their meeting on December 15, 2014. Mr. Bowers moved to approve Bond Resolution 2015-3 re: the issuance of bonds of the City of Carmel Redevelopment District for various projects associated with City Center Phase II and incidental expenses in connection with the issuance of the bonds. Seconded by Mr. Worrell and unanimously approved. Mr. Bowers asked if all the conditions the City Council discussed in previous meetings relating to this resolution have been taken care of at this point. Mrs. Meyer confirmed they had. Designation of Commissioners to sign City Center Phase II documents Mr. Hammer stated staff has requested the designation of a second signatory(in addition to the President)for City Center Phase II documents. Mr. Worrell nominated the Vice President [Dave Bowers], seconded by Mr. Dalzell. Passed unanimously. Other Business Mrs.Meyer requested creation of a Technical Review Committee to facilitate the design-build process for the Park East Garage, per state statute requirements relating to the design-build process. Mrs. Meyer outlined benefits of the process as well as requirements and responsibilities of the committee. Mrs. Meyer recommended a five member committee with one representative from a City agency,two CRC representatives and two Pedcor representatives, one of which being a licensed contractor to meet the statutory obligation. Discussion ensued. Mr. Haas stated the committee is project specific and this would not be a permanent panel. Mr. Worrell moved for approval, seconded by Mr. Dalzell. Unanimously approved. Adjournment Mr. Bowers moved the meeting be adjourned pending the execution of documents and seconded by Mr. Worrell. The meeting was adjourned at 7:31p.m. The next special meeting is Thursday, February 26, 2015 at 8 a.m. The next regularly scheduled meeting is Wednesday, March 18, 2015 at 6:30 p.m. 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. 3