HomeMy WebLinkAboutApril 2014 meeting minutes
CARMEL REDEVELOPMENT AUTHORITY
MINUTES OF MEETING
Monday, April 21 2014
Carmel City Hall DOCS Conference Room
President Robert Bush called the meeting to order .Jack Badger was also in attendance,
which constitutes a quorum. Also in attendance: Bruce Donaldson, Barnes and
Thornburg, Loren Matthes, Umbaugh, Heidi Amspaugh of Umbaugh, Mike Schumaker
or City Secruities and Landen Boehm, Piper Jaffray. The support person in attendance
was Maggie Crediford
RESOLUTION
Resolution No. 2014-1 of the City of Carmel Redevelopment authorizing the
issuance ofone or more series of its least rental revenue refunding bonds, series 2014
(Performing Arts Center Project) authorizing the execution of an amendment to an
existing lease agreement between the City of Carmel Redevelopment Commission.
PURPOSE: CRA is looking to provide funds to finance all or a portion of the costs
of the City Center Project. This is projected to be: $52,000,000.
Loren Matthes gave an overview of the financial implications. She explained the
bonds in detail.Tthe committee is responsible for making sure that Carmel has the
COIT money to redo the bonds and make sure the proceeds are being used to the
extent that there are any proceeds of the refinancing are used on the right kind of
projects, that we are allowed to do with this kind of bond.
Lauren- There will not be any proceeds left over. The refinance will be sized to
meet the exact needs.
The Authority voted 2-0 to approve the Resolution.
Signatures are on official documents.
Maggie Crediford – Support Staff