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Home My WebLink About08-03-2015 0llf/F/ 444 City of Carmel . lip ?yy••. :?�� '3►j� pi 0000 $�' �p/000 Office the COMMON COUNCIL Clerk-Treasurer MEETING AGENDA MONDAY, AUGUST 3, 2015 - 6:00 P.M. COUNCIL CHAMBERS/CITY HALL/ONE CIVIC SQUARE MEETING CALLED TO ORDER 1. INVOCATION 2. PLEDGE OF ALLEGIANCE 3. RECOGNITION OF CITY EMPLOYEES AND OUTSTANDING CITIZENS 4. APPROVAL OF MINUTES a. July 20, 2015 Regular Meeting 5. RECOGNITION OF PERSONS WHO WISH TO ADDRESS THE COUNCIL 6. COUNCIL, MAYORAL AND CLERK-TREASURER COMMENTS/OBSERVATIONS 7. ACTION ON MAYORAL VETOES 8. CLAIMS a. Payroll- $1,536,544.15 b. General Claims - $2,302,351.96 c. Retirement- $90,436.37 9. COMMITTEE REPORTS a. Finance, Administration and Rules Committee b. Land Use, Annexation and Economic Development Committee c. Parks, Recreation and Arts Committee d. Utilities, Transportation and Public Safety Committee e. All reports designated by the Chair to qualify for placement under this category. ONE CIVIC SQUARE CARMEL,INDIANA 46032 317/571-2414 1 10. OTHER REPORTS a. Carmel Redevelopment Commission(Monthly) b. Economic Development commission(Quarterly—February,May, August,November) c. Carmel Historic Preservation Commission(Quarterly—January,April,July, October) d. Redevelopment Authority(Bi-annual—April, October) e. Cannel Cable and Telecommunications Commission(Bi-annual—April, October) f. Ethics Board(Annual—February) g. Library Board (Annual—February) h. All reports designated by the Chair to qualify for placement under this category. 11. OLD BUSINESS a. Second Reading of Ordinance D-2222-15; An Ordinance of the Common Council of the City of Carmel, Indiana, Supplementing and Amending Ordinance D-1754-05, all for the Purpose of Authorizing the Modification of Certain Contractual Rights of the City of Cannel, Indiana, The Execution and Delivery of its Amended Sewage Works Revenue Bonds, Series 2005, and Approving Certain Related Matters; Sponsor: Councilor Snyder. Remains in the Finance, Administration and Rules Committee. 12. PUBLIC HEARINGS 13. NEW BUSINESS a. First Reading of Ordinance D-2223-15; An Ordinance of the Common Council of the City of Cannel, Indiana, Enacting and Adopting a Supplement to the Code of Ordinances (1st Quarter ALP Codification) of the City of Carmel, Indiana; Sponsor: Councilor Snyder. b. Resolution CC-08-03-15-01; A Resolution of the Common Council of the City of Cannel, Indiana, Approving Cannel Redevelopment Commission Contract with Enverity Engineering(P.O. 32953; $126,750—Engineering Services for City Center Phase II Site); Sponsor(s): Councilor(s) Finkam and Rider. 14. OTHER BUSINESS 15. ANNOUNCEMENTS 16. EXECUTION OF DOCUMENT 17. ADJOURNMENT 08/03/15 CC Meeting Agenda 2 I COMMON COUNCIL MEETING MINUTES MONDAY, AUGUST 3, 2015 - 6:00 P.M. COUNCIL CHAMBERS/CITY HALL/ONE CIVIC SQUARE MEMBERS PRESENT: Mayor James Brainard, Council President Richard L. Sharp, Council Members Sue Finkam, Carol Schleif, W. Eric Seidensticker, Luci Snyder,Ronald E. Carter, Kevin D. Rider, Clerk-Treasurer Diana L. Cordray and Deputy Clerk Lois Craig. Mayor Brainard called the meeting to order at 6:00 p.m. Pastor Patti Napier, Carmel United Methodist Church,pronounced the Invocation. PLEDGE OF ALLEGIANCE: Mayor Brainard led the Pledge of Allegiance. RECOGNITION OF CITY EMPLOYEES AND OUTSTANDING CITIZENS: There were none. APPROVAL OF MINUTES: Councilor Seidensticker made a motion to approve minutes from the July 20, 2015 Regular Meeting. Councilor Finkam seconded. There was no Council discussion. Council President Sharp called for the vote. Minutes were approved 6-0 (Councilor Schleif abstained). RECOGNITION OF PERSONS WHO WISH TO ADDRESS THE COUNCIL: There were none. COUNCIL, MAYORAL AND CLERK-TREASURER COMMENTS/OBSERVATIONS: Councilor Snyder addressed the Council regarding the Hamilton County Humane Society. Councilor Carter addressed Clerk-Treasurer Diana L. Cordray regarding the transition. ACTION ON MAYORAL VETOES: There were none. 1 CLAIMS: Councilor Finkam made a motion to approve payroll in the amount of$1,536,544.15. Councilor Seidensticker seconded. There was no Council discussion. Council President Sharp called for the vote. Payroll was approved 7-0. Councilor Finkam made a motion to approve claims in the amount of$2,302,351.96. Councilor Schleif seconded. There was no Council discussion. Council President Sharp called for the vote. Claims were approved 7-0. - Councilor Finkam made a motion to approve retirement in the amount of$90,436.37. Councilor Schleif seconded. There was no Council discussion. Council President Sharp called for the vote. Retirement was approved 7-0. COMMITTEE REPORTS: Councilor Snyder reported that the Finance, Administration and Rules Committee had not met. Councilor Seidensticker reported that the Land Use,Annexation and Economic Development Committee had not met. Councilor Rider reported that the Parks,Recreation and Arts Committee had not met. Councilor Finkam reported that the Utilities, Transportation and Public Safety Committee had not met. All reports designated by the Chair to qualify for placement under this category. OTHER REPORTS: Corrie Meyer, Executive Director, Carmel Redevelopment Commission,was available for questions of the Council regarding the financial activities of the Cannel Redevelopment Commission. There was no Council discussion. Economic Development Commission(Quarterly—February,May, August,November). Councilor Snyder informed the Council that the Economic Development Commission had not met this year. Cannel Historic Preservation Commission(Quarterly—January,April, July, October). Redevelopment Authority(Bi-annual—April, October). Cannel Cable and Telecommunications Commission(Bi-annual—April, October). Ethics Board(Annual—February). Library Board(Annual—February). All reports designated by the Chair to qualify for placement under this category. 2 OLD BUSINESS Council President Sharp announced the Second Readin2 of Ordinance D-2222-15; An Ordinance of the Common Council of the City of Carmel, Indiana, Supplementing and Amending Ordinance D-1754-05, all for the Purpose of Authorizing the Modification of Certain Contractual Rights of the City of Cannel, Indiana, The Execution and Delivery of its Amended Sewage Works Revenue Bonds, Series 2005, and Approving Certain Related Matters; Sponsor: Councilor Snyder. Remains in the Finance, Administration and Rules Committee. This item was not discussed. PUBLIC HEARINGS There were none. NEW BUSINESS Council President Sharp announced the First Readin2 of Ordinance D-2223-15; An Ordinance of the Common Council of the City of Carmel, Indiana, Enacting and Adopting a Supplement to the Code of Ordinances (Is`Quarter ALP Codification) of the City of Carmel, Indiana. Councilor Seidensticker made a motion to move this item into business. Councilor Finkam seconded. This item was Tabled and sent to city legal for a final review and was directed that city legal return with the item to the next Council meeting with a review of the quarterly supplement. Council President Sharp announced Resolution CC-08-03-15-01; A Resolution of the Common Council of the City of Cannel, Indiana,Approving Cannel Redevelopment Commission Contract with Enverity Engineering(P.O. 32953; $126,750—Engineering Services for City Center Phase II Site). Councilor Rider made a motion to move this item into business. Councilor Finkam seconded. Councilor Rider presented this item to the Council. There was no Council discussion. Councilor Schleif made a motion to approve Resolution CC-08-03-15-01. Councilor Finkam seconded. There was no Council discussion. Council President Sharp called for the vote. Resolution CC-08-03-15-01 was adopted 7-0. OTHER BUSINESS There was none. ANNOUNCEMENTS There were none. EXECUTION OF DOCUMENT ADJOURNMENT a Council President Sharp adjourned the meeting at 6:14 p.m. Respectfully submitted, fi I. 1 ,,/ Clerk-Treasurer Diana L. Cordray, ' If 3 Approved, Gv(i James B inard, Mayor ATTEST: ALL) ' � Diana L. Cordray, IAMC, Clerk-Treas �r 08/03/15 CC Meeting Minutes 4 CARMEL REDEVELOPMENT COMMISSION CITY COUNCIL AUGUST, 2015 REPORT REPORTING ON JUNE 2015 FINANCES JULY 2015 ACTIVITIES Carmel Redevelopment Commission STRATEGIC HIGHLIGHTS • The CRC approved a mid-year budget that represents updated revenues and projected expenditures through year-end. • Enverity Engineers was approved to provide civil engineering services for Phase 2 of Carmel City Center. • The CRC opened bids for the completion of the Palladium landscaping and limestone installation. JBM Contractors was the low bid and selected for the project. This construction work will be complete in 2015. FINANCIAL HIGHLIGHTS The following highlights represent unrestricted funds available to the CRC to work its mission. Total savings at month-end were 4,932,375. Savings are considered restricted and are in addition to the ending balance noted below. June Beginning Balance $ 5,104,828 June Revenues $ 10,066,370 June Expenditures $ 3,622,625 June Ending Balance $ 11,548,572 The CRC reimbursed the Redevelopment Department for operational expenses thru June 30,2015. A draft 2016 CRC budget will be submitted to Council along with City Department budgets. As requested, this follows the timeline of the City Department budget process. The CRC will approve a final 2016 budget in Fall,2015. FUNCTIONAL HIGHLIGHTS • CRC staff,the CRC Treasurer,and Clerk Treasurer(CT)staff did not meet in July. • Original records transferred to and/or documents shared with CT office for record-keeping: DATE DOCUMENT METHOD n/a LOOKING AHEAD • Agreements will begin to be developed with Anderson Birkla regarding the Party Time site. All agreements and project design will seek Council input and approval this summer. • Midtown development discussions are underway. A TIF request is anticipated in 2015. June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 11 FINANCIAL STATEMENT Financial Statement MAY MONTH END BALANCE* $14,000,000 JUNE MONTH-END FINANCIAL BALANCE $12,000,000 Ending Balance without $ 11,548,572 $10,000,000 Restricted Funds* $8,000,000 Ending Balance with $ 16,480,946 $6,000,000 Restricted Funds $4,000,000 $2,000,000 $- SUMMARY OF CASH •Actual •Budget •Variance For the Month Ending June 30,2015 MONTHLY DESCRIPTION ACTUAL PROJECTION VARIANCE Cash Balance 6/1/15 1101 Cash $5,055,724.68 $5,055,724.68 $- 1110 TIF 49,103.18 49,103.18 - Total Cash $5,104,827.86 $5,104,827.86 $- Receipts 1101 Cash $169,201.42 $107,323.14 $61,878.28 1110 TIF 10,997,228.50 10,997,228.50 - Developer Payments - (687,585.40) 687,585.40 Transfer to SRF (1,100,060.36) (1,252,694.35) 152,633.99 Total Receipts $10,066,369.56 $9,164,271.89 $749,463.68 Disbursements 1101 Cash $316,414.50 $11,554.50 $(304,860.00) 1110 TIF 3,306,210.75 3,306,210.75 - Total Disbursements $3,622,625.25 $3,317,765.25 $(304,860.00) 1101 Cash $4,908,511.60 $5,151,493.32 $(242,981.72) 1110 TIF 6,640,060.57 5,799,841.18 840,219.39 Cash Balance 6/30/15 $11,548,572.17 $10,951,334.50 $597,237.67 Total Usable Funds $11,548,572.17 $10,951,334.50 $597,237.67 June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 12 FINANCIAL STATEMENT FUND BALANCES AND OUTSTANDING RECEIVABLES A s 1 of June 30,2015 Restricted Funds Energy Center Reserve $502,055 Civic Rent Reserve 802,341 Supplemental Reserve Fund 3,627,978 Sub-total: 4.932.374 Unrestricted Funds TIF 6,640,061 Non TIF 4,908,512 Sub-total: 11.548.572 Total Funds $16.480.946 Outstanding Receivables Reimbursement of City Center Phase II invoices(1) 141,374 Reimbursement of Project Blue invoices(2) 13.955 Total Outstanding Receivables $155.329 (1)Amount due is 50%of professional service invoices paid to date by the CRC for the City Center Phase II project as agreed to with Pedcor. (2)Amounts due are the professional service invoices paid to date by the CRC in regards to the potential development as per the established Reimbursement Agreement. STATEMENT OF CHANGES IN EQUITY MONTH END: JUNE 2015 DESCRIPTION REVENUE EXPENSES Total Receipts(TIF) $9,897,168 Total Receipts(Non TIF): $169,201 Expenditures(TIF) $316,415 Expenditures(Non-TIF) $3,306,211 June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 13 4 FINANCIAL UPDATE Financial Update TIF REVENUE AND DEBT Projected TIF revenue available for CRC use and reserve transfers is$19,031,010. $1,954,580 is projected to be transferred to reserves. Net Developer Pass-Thru TIF Revenue forecast is$17,076,430. Bond debt payments were made in June and July and will be made December. Below are the projected payments; MONTH TIF TOTAL COIT TOTAL June/July 2015 $9,056,949 $479,711 December 2015 $9,054,864 $479,532 GOING CONCERN With construction projects underway,we are coordinating closely with contractors to minimize unforeseen change orders. TAKEAWAYS • Month-end balance is positive. • The CRC approved a mid-year 2015 budget. • June TIF revenues received are adequate to cover TIF debt obligations. Payment of TIF obligations was approved at the July meeting. June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 14 • Project Updates CITY CENTER Developer Partner:Pedcor Companies Allocation Area:City Center Project Summary:see below Use: Mixed-Use WIN C ARMEL C ITY C ENTER PROPOSED SITE PLAN 124-14 1 -- m. _ ... r II _ : wvArr i Windsor Q a `1 W Baldwin " ;„ W 0.: E?'i<`E'kti' > v. is a .. .NE..E. .,,N.N. TM(TAMIUNGT01.1 r i-ca c':0 11 0 t a — MWN GREEN ALM r — N c 00‘..)0 `,ti ,. j1 o 2114 Coma Cm Cum.LI.0 •PIOCON 014101, LHIH G= , ,_. , 3-_ Figure 1 City Center Master Plan,provided by Pedcor City Center Development Company June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 15 PROJECT UPDATES Phase 1-complete 1) Apartments-Apartment demand remains strop g.which supports t h o occupancy and rental rates . Current occupancy is at 91%. 2) Retail-Currently,Pedcor leases 95%of the total 79,570 in LSF. United Fidelity Bank opened in mid-May. Langton's is scheduled to open in July. Beauty&Grace signed a lease for the western half of suite 159 (old Mangia). The build-out of that space will commence in July. If you know of retailers that would be great to have here,please contact Melissa Averitt at 705-7982 or Jimia Smith at 660-3388. Nash Building-complete 1) Apartments-40%of the 30 apartments are leased. 2) Retail-approximately 70%of the 9,500 sf of commercial space has been leased. The Art of Kitchen and Home(Mondana)will open in July and Graeter's Ice Cream build-out will be underway soon. Phase 2 1) Project Status-designs are in progress and construction has not started. a) Kent schematics will be submitted in July for review by the Architectural Committee in July. b) Rangeline Road garage entry facade will be submitted for architectural review in July. c) The TRC met to further draft the RFQ for the Park East Design-Build project. Anticipated release of the RFQ is early Fall 2015. 2) Proposed Construction/Use Sequence PROJECT USE PROJECT DESIGN RENDERINGS DATES PROVIDED BY PEDCOR Garage A four-story parking structure with no less Design/Build , Park East than 620 parking spaces,which will include 2015-2016 up to approximately 28,000 square feet of iv. commercial retail/office space. Completion Q1/2 2017 - *CRC Public Bid project. ---- Baldwin/ A four story building,of approximately Start:Spring ��,� Chambers 64,000 square feet,which will include 2015 luxury apartments and commercial _ retail/office space. Pedcor is currently Completion working with four commercial businesses L r who will occupy approximately 14,000 sf of Q4 2017 the commercial space. June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 16 G PROJECT UPDATES Holland A five story building,of approximately Start:Fall 2015 63,000 square feet,which will include luxury apartments and commercial Completion '''� ri n retail/office space. Q4 2017 Playfair A five story building,of approximately Start:Fall 2015 63,000 square feet,which will include Completion luxury apartments and commercial Q4 2017 retail/office space. Garage See Garage East note above. Start:Fall 2015 Retail Completion Q4 2017 Pedcor A two story building,of approximately Start:Fall 2015 Office 5 20,000 square feet,which will include office • space. Completion Q42017 I lipii Kent A three story building,of approximately Start:Fall 2015 111,000 square feet of luxury apartments. r Completion el�f� 7„,�1: ' Q4 2017 `'!G' ,!&1Y- " 1t Wren A seven story building,of approximately Start: Fall 2016 ` 88,000 square feet,which will include 0 luxury apartments and commercial Completion , ` 'a-t• office/retail space. < < Q4 2018 .eV in, • ti tv la A '11 ril 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:TBD square feet,which will include parking. June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 17 PROJECT UPDATES 3) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC Enverity Civil Engineering On 8/3 Agenda Approved at 7/15 mtg. Contract 4) CRC Commitments An overview of commitments have been uploaded to the CRC website. Most significantly,the CRC commits to publicly bid a four-story parking garage with not less than 620 parking spaces. The CRC also commits to coordinate any significant site plan changes requested by Pedcor with City Council. MEZZ 42 1) Developer Partner:Anderson Birkla 2) Allocation Area:City Center 3) Project Summary: see www.mezz42.com Use:Primary Residential. 42 residential units with 8,500 square feet of office. Total project budget:$8-9 million Secured Tenants:Survival Fitness(NOW OPEN),attorney office,and Anderson Birkla headquarters " r 0 .. u .h 1717171.".." le, ij office PARKING GARAGE l I wnw . • 1..r _ --. __ �\,a... 99 9 4" HtA,tK C� 11 ,, r Ii p. l e OFFICE I- I4.,,.. 7 i)11., ..�. - 'f� • IQ ..� ..� `.taw• Figure 2 Image provided by Anderson Birkla 4) Anticipated Project Schedule Project complete August,2015 June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 1 8 PROJECT UPDATES 5) Construction Milestones a. Street sweeping is occurring weekly on Fridays or as needed. el b. BUILDING 1 —#1 ' ipi i. EIFS work is nearing completion. = ' ii. Installation of the elevator is in progress. c. BUILDING 2; i. EIFS work is nearing completion. ii. MEP finishes work is currently in progress. iii. Elevator contractor is completing their final adjustments. 6) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None at this time 7) CRC Commitments I +fir Provide parking spaces on 3rd 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. Original Budgets-not including construction change orders. Invoices are expected to be _ $67,021 paid Aug 2015. Calumet Civil Site Construction (3rd Ave) Contractors. Utility Invoices are expected to be Relocation $250,000 paid in summer 2015. Invoices are expected to be $242,979 paid summer 2015. Midwest Site Construction (site work) Constructors. b. Design Consultant:American Structurepoint c. Construction Contractors:Calumet Civil Contractors/Duke Energy/ Midwest Constructors d. CRC Commitment Schedule :Ap..-4■he Design Des n%Complete 100/o o ,',`: cS;�t�i <a•: rS Construction Start Date September 2014 Anticipated Project Completion August 2015 June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 19 PROJECT UPDATES REFLECTING POOL-COMPLETE 1) Contractor:Smock Fansler 2) Project Summary:Replace concrete coping with granite stone and install underdrain. 3) Total Project Budget:$613,500 Original Construction Contract $463,500 Final Construction Cost $487,800 SOPHIA SQUARE PUBLIC PLAZA 1) Developer Partner(s):Carmel Lofts/Keystone 2) Project Summary:Create a multi-purpose civic plaza serving residents and merchants of Sophia Square,City of Carmel festival goers,visitors of the Arts and Design District,and individuals/organizations that would reserve the space for special events. Total project budget:unconfirmed 3) Anticipated Project Schedule Design June-August 2015 Construction Late Summer/Fall 2015 4) Design Consultant:Context Landscape Architecture 5) Construction Milestones:n/a 6) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None. PALLADIUM DOME 1) Design Engineer:McComas Engineering 2) Contractor: Ben Hur 3) Project Summary:Engineer and repair eight connections on a truss in the Palladium Dome. These connections were indicated by Walter P.Moore as connections that needed to be addressed to improve the structural longevity and long-term integrity. 4) Total Project Budget:$150,000 Engineering Contract $31,300 Construction Contract $55,500 5) Anticipated Project Schedule Project Start May,2015 Project Complete 2015 June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 110 PROJECT UPDATES 6) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None PALLADIUM LANDSCAPING 1) Project Summary:In 2011,the CRC purchased limestone for the Palladium site with the intent to complete the landscape package. The current location where the limestone is stored is no longer. The project will include the installation of the existing limestone,site work,and landscape on the south and west sides of the Palladium. Shiel Sexton is providing construction management for this project under an existing contract. 2) Total Project Budget:$1,363,350 Engineering Contract $23,200 Construction Contract with JBM Construction $1,243,000 3) Anticipated Project Schedule Design Complete Construction Complete November,2015 4) Construction Milestones:n/a 5) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None at this time MONON AT MAIN STREET 1) Project Summary:Improve the safety and aesthetics along the Monon between Main Street and 1n St. NW. Total project budget:$86,570 Project Partners:Carmel Parks and Recreation Department 2) Anticipated Project Schedule Design April-June 2015 Construction Summer/Early Fall 2015 3) Design Consultant:Context Landscape Architecture 4) Construction Milestones:n/a 5) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None at this time June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 111 PROJECT UPDATES FORMER PARTY TIME SITE 1) Developer Partner(s):Anderson Birkla 2) Economic Development Area: 126th Street 3) Project Summary:Mixed-use development,multiple buildings. Total project budget:unknown _ SITE PLAN t �_ f , ilumm , . EMIL. . . n n,Rf Street Level Plan bNta, mnciovuum, I M,Red usr of Res,dent Retell. v a► • • - IOffice,and Amenities prow de 3 roc t S _ v u....af; and vaned commumtye y fee. a r. a. JR it - .. - O Mixed-Use Development Concept -,„: ,, ___w___ Ano..onal.eu Carmel,Indiana .,.-,,,n- WOOL Pia T 4) Anticipated Project Schedule TIF Request 2015 Design/Construction start 2016 5) Construction Milestones:n/a 6) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC Purchase All agreements and the design will seek Council 5/21/15 approved Agreement approval based on Ordinance Z-571-13 Project Agreement -draft in progress- 7) CRC Commitments No commitments have been made at this point in the negotiations. June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 112 PROJECT UPDATES MIDTOWN 1) Developer Partner(s):Old Town Development/Barrett&Stokely 2) Economic Development Area:Old Town 3) Project Summary:Mixed-use development,multiple buildings. Total project budget:unknown Secured Tenants: Merchants Bank 44111" + Y hen 1 MIDTOWN �.. �I_._ -cAR ►ItL --. , 1r '__ ' MIDTOWN ..11 ' 1 -', WEST MIDTOWN WEST MIDTOWN PLAZA • Residential ARKiNC Development GARAGE 250 Apt/Condos "% by Barrett&Stokely and Old Town re-4 Deevelopment ~gym ) �'s[NCEIC wc: MIDTOWN PlA2A EAST ("� • PARKING GARAGE F IMIDTOWN EAST Residential Development 300 Apt/Condos / , I MIDTOWN s Office/Retail �' PARKING Li.:a 11 Development GARAGE y. w MIDTOWNCARMEL COM 4) Anticipated Project Schedule TIF Request 2015 Design/Construction Start Late 2015/2016 5) Construction Milestones:n/a 6) Council and/or CRC Action Items ACTION ITEM CITY COUNCIL CRC None at this time 7) CRC Commitments No commitments have been made at this point in the negotiations. June 24,2015 CRC Report for August 3,2015 City Council Meeting Page 113 PROJECT UPDATES Respectfully submitted, Corrie Meyer,AICP,RLA,LEED AP Director Carmel Redevelopment Commission/Department July 24,2015 Prepared for David Bowers and Bob Dalzell -End Report- June 24,2015 CRC Report for August 3,2015 City Council Meeting Page I 14