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q^' CITY OF CARMEL, INDIANA VENDOR: 00351669
® " ONE CIVIC SQUARE H J UMBAUGH &ASSOCIATES CHECK AMOUNT: $****76,300.00*
4 CARMEL, INDIANA 46032 8365 KEYSTONE CROSSING STE 300 CHECK NUMBER: 251568
,,,_ioN�, INDIANAPOLIS IN 46240 CHECK DATE: 11/18/15
DEPARTMENT ACCOUNT PO NUMBER INVOICE NUMBER AMOUNT DESCRIPTION
1801 4340400 140218 48,970.00 CONSULTING FEES
1801 4340400 140219 3,480.00 CONSULTING FEES
1801 4340400 140221 1,100.00 CONSULTING FEES
1801 4340400 140222 2,025.00 CONSULTING FEES
1801 4340400 140223 6,245.00 CONSULTING FEES
1801 4340400 140225 14,330.00 CONSULTING FEES
1801 4340400 140233 150.00 CONSULTING FEES
H. J. Umbaugh & Associates
Certified Public Accountants, LLP
8365 Keystone Crossing, Suite 300
Indianapolis, IN 46240-2687
(317)465-1500
Ms. Corrie A. Meyer, Executive Director
Carmel Redevelopment Commission
30 West Main Street, Suite 220
Carmel, IN 46032
Re: Tax Increment(TIF) Management Services and
Developer TIF Financing Feasibility Analyses and
EDC Bonds
Invoice No. 140218, 140219, 140221, 140222, 140223, 140225, 140233,
Date 07/1012015
Client No. C00600.RED3, 7, 13, 40, 44, 58, 63
For professional services related to (i) administration of approximately 30 TIF Areas, assistance with
outstanding debt obligations including debt analysis information, assistance with debt payment calculations,
bond rating surveillance, TIF updates and debt reporting for Bond Owners and Developers; various TIF and
debt information for CRC, City officials and media as requested; monitoring for refunding opportunities; and (ii)
financial planning for various projects,financial analyses in connection with leveraging certain private developer
projects (listed below) including preparation of tax increment projections and financing feasibilities; discussion
and analysis related to bond terms,TIF splits and impact on General Tax Increment; assistance with separation
and creation of new Allocation Areas, preparation and distribution of tax impact analyses to overlapping taxing
units; discussions and planning with the Commission, Council members and attorneys; provide terms for bond
documents and project agreements; preparation of special purpose accounting reports and bond closing
instructions letters; attend public and working group meetings; and other related services in accordance with an
Engagement Letter dated April 17, 2013.
TIF Management Services 48,970.00
Financial Planning/Feasibility 3,480.00
TIF Feasibility-Meridian & Main 1,100.00
TIF Feasibility-AB- Party Time 2,025.00
TIF Feasibility- Midtown 6,245.00
District Bonds- Pedcor Parcel 5(CC2) 14,330.00
TIF/EDC Bonds- Ed Rose 150.00
Current Amount Due $ 76 300.00
WIRING INSTRUCTIONS
H.J. Umbaugh&Associates
Key Bank, N.A.
202 S. Michigan Street
South Bend, IN 46601
Account Number- 1215504838
Routing Number-041001039
Carmel Redevelopment Commission
Invoice Supporting Detail
Re: TIF Management and Monitoring Services(12/10/14-07/09/15)
Date Service Description Employee Memo Hours Rate Amount
12/10/2014 Financial Development-Prep Matthes CIC misleading editorial on debt and TIF projection audit;
assist City with clarification/correction re:SBA audits,
debt,etc. 1.00 $340 $340.00
12/10/2014 Financial Development-Prep Matthes Calculation of the RSIC(Scondary IC's)payment due
1/15/15;TIF settlement calculation;change for pay-off of
the$1 million RSIC and partial payment on$4.5 million
RSIC,and timing 1.00 340 340.00
12/11/2014 Financial Development-Prep Mouser Secondary ICs 0.50 120 60.00
12/12/2014 Financial Development-Prep Mouser Secondary ICs-prep for,call,follow up from call w/
Laurie Siler 1.25 120 150.00
12/12/2014 Financial Development-Prep Matthes New RSIC calculation from Laurie Siler(after pay-off of
102,deferred interest),2014 TIF distribution,in prep for
actual calc of the 1/1/15 and future payments. Call w/
Laurie to discuss 0.75 340 255.00
12/16/2014 Financial Development-Prep Mouser Prepare revenue and debt information for CRC 5.25 120 630.00
12/17/2014 Financial Development-Prep Mouser MISO TIF;debt pie chart;settlement;CRC 2015 budget 4.25 120 510.00
12/18/2014 Financial Development-Prep Mouser Settlement;debt;Hamilton County Thomson TIF COIT
bonds-Taxpayer DLO,COIT contribn paymt calc 3.75 120 450.00
12/18/2014 Financial Development-Review Amspaugh RSICs TIF Calc review 1.75 220 385.00
12/18/2014 Financial Development-Prep Amspaugh Prepare revenue and debt information for CRC 1.00 220 220.00
12/19/2014 Financial Development-Prep Mouser Debt info/graphs 1.50 120 180.00
12/19/2014 Financial Development-Prep Matthes Debt and tax info/graphs 0.50 340 170.00
12/29/2014 Financial Development-Prep Mouser Prepare revenue and debt information for CRC 3.25 120 390.00
12/31/2014 Financial Development-Prep Mouser Prepare revenue and debt information for CRC 1.25 120 150.00
1/5/2015 Financial Development-Prep Mouser Legacy;debt 0.75 150 112.50
1/9/2015 Financial Development-Prep Mouser Secondary IC into 0.50 150 75.00
1/12/2015 Correspondence Mouser Re:RDC Reporting 0.25 150 37.50
1/13/2015 Financial Development-Prep Mouser COIT refunding;2014 COIT lease rental question per Ben
Roeger;debt and tax info 3.00 150 450.00
1/13/2015 Financial Development-Prep Matthes 2014 COIT Rei Bonds missed payment;question from
Coonrod and Ben-no July 2014 Bond payment by CT to
bond trustee;Cindy says funds in the Trustee account,
but not per Umbaugh#'s;check bond doc's-problem-
further checking; 0.50 375 187.50
1/16/2015 Teleconference Amspaugh Call w Corrie re TIF Report vs Acctg Rpt question 0.50 250 125.00
1/16/2015 Financial Development-Prep Mouser TIF backup for various FOS ARs 7.25 150 1,087.50
1/16/2015 Financial Development-Prep Matthes Working with Andy to find OS supporting schedules and
compare to Final TIF Reports;discuss differences;call
with Corrie;discuss energy payment changes and
assumptions,contracts vs payments,etc. 1.00 375 375.00
1/20/2015 Financial Development-Prep Mouser Info to Corrie re:prior FOS revenue detail 1.50 150 225.00
1/20/2015 Financial Development-Prep Matthes Umbaugh supporting schedules for 2012 and 2014 OS's-
questions from Corrie and transmittal with explanation to
Rick Sharp and Luci 0.50 375 187.50
1/20/2015 Correspondence Matthes Review and respond to Cindy Sheeks email with S&P
rating related questions about 2006 EDC Parkwood
Bonds;explain that Bonds have been defeased,etc.;
checking EMMA filing,etc. 0.75 375 281.25
1/21/2015 Financial Development-Prep Mouser Supporting documents for prior FOSs;Parkwood S&P 0.75 150 112.50
1/22/2015 Financial Development-Prep Mouser Prepare revenue&debt into for CRC 3.75 150 562.50
1/22/2015 Financial Development-Prep Amspaugh Residential parcels email w Lee Graham 0.25 250 62.50
1/23/2015 Financial Development-Prep Mouser Info re:06/30/14 pmt.on 2014A COIT Bonds 0.75 150 112.50
1/23/2015 Financial Development-Prep Matthes More questionstfollow-up re:COIT Bonds and missed
payment 0.25 375 93.75
1/26/2015 Financial Development-Prep Mouser Various 0.25 150 37.50
1/27/2015 Financial Development-Prep Mouser Debt info;settlement info 1.25 150 187.50
1/28/2015 Financial Development-Prep Matthes Prepare revenue and debt information for CRC 1.00 375 375.00
1/28/2015 Financial Development-Prep Amspaugh Prepare revenue and debt information for CRC 2.25 250 562.50
1/28/2015 Financial Development-Prep Mouser Debt info;discuss debt info w/LMM&HLA;OSs vs.TIF
Reports 2.50 150 375.00
1/29/2015 Financial Development-Prep Mouser Prepare revenue and debt information for GRC 1.00 150 150.00
1/29/2015 Financial Development-Prep Matthes Preparing and reviewing debt and revenue information 4.00 375 1,500.00
1/30/2015 Teleconference Matthes Corrie re:Energy Ctr bonds,contracts,etc.and other...
Keystone parking O&M,etc. 0.25 375 93.75
1/30/2015 Financial Development-Prep Matthes Corrie re:Energy Ctr bond defeasance and other
questions-check C COPS FOM,etc. 0.25 375 93.75
1/30/2015 Financial Development-Prep Mouser Info re:COPS&energy payments-call w/LMM&Corrie;
discuss w/LMM 1.25 150 167.50
2/2/2015 Financial Development-Prep Mouser OS ARs compared to TIF Reports 3.75 150 562.50
2/4/2015 Financial Development-Prep Mouser Atapco-TIF Report 1.25 150 187.50
2/4/2015 Financial Development-Prep Amspaugh Debt graph review;Tax Impact review 0.50 250 125.00
2/9/2015 Financial Development-Prep Mouser Atapco-TIF Report 0.25 150 37.50
2/11/2015 Financial Development-Prep Amspaugh Email w Tom Berry re Clarian TIF Report;Disc w Andy 0.25 250 62.50
2/11/2015 Financial Development-Prep Mouser Clarian Health TIF update;C COPS refunding analysis 0.50 150 75.00
2/16/2015 Financial Development-Prep Mouser Clarian TIF-for Tom Berry®Nuveen Investments 2.25 150 337.50
2/17/2015 Financial Development-Prep Mouser Captured AV of all TIF pay 2019;calls re:debt,CRC
revenues covg 2.25 150 337.50
2/18/2015 Financial Development-Prep Mouser Debt info 0.25 150 37.50
2/18/2015 Financial Development-Prep Amspaugh Send Legacy docs to Loren 0.25 250 62.50
2/18/2015 Financial Development-Prep Matthes TIF and debt info for CRC to Corrie 1.00 375 375.00
2/18/2015 Financial Development-Prep Matthes Legacy TIF info for Jeremy Kashman,City Engineer-
2013 Bonds-TIF Report info and also update 2015 TIF
est.and compare to 2013 estimate and implications with
regard to funding River Rd 2.00 375 750.00
2/19/2015 Financial Development-Prep Mouser Info to Corrie re:Aug 2012 energy center powerpoint;
Captured AV of All TIF 0.50 150 75.00
2/19/2015 Financial Development-Prep Matthes Legacy TIF info for Paul Rioux(responding to his inquiry)-
additional funds needed for River Road and potential for
next tranche 2015 Bonds-send new 2015 TIF est.
compared to 2015 estimate contained in the 2013 report
and discuss implications with regard to funding River Rd,
developer guarantees,BAN,etc. 0.50 375 187.50
2/1 912 01 5 Financial Development-Prep Mouser Legacy info 0.25 150 37.50
2/20/2015 Financial Development-Prep Mouser debt summary for city website 1.25 150 187.50
2/23/2015 Financial Development-Prep Mouser Debt info for City website 3.25 150 487.50
2/24/2015 Legal Documents Matthes Bruce D.re:filing of doc's related to new TIF with County
Auditor-City Ctr,Ed Rose,and Olivia on Main 0.25 375 93.75
2/2 412 01 5 Financial Development-Prep Mouser CRC Outstanding Debt-web 123114 0.75 150 112.50
2/25/2015 Umbaugh Reports-Prep Matthes Communications w/Corrie re:statement in the CRC 2014
Annual Report re:TIF revenue and debt coverage;no
SBT,etc.; suggested language,options and footnote;
calls-various questions 0.50 375 187.50
2/26/2015 Financial Development-Prep Mouser Clarian TIF 0.50 150 75.00
2/27/2015 Correspondence Mouser Re:debt 0.50 150 75.00
3/2/2015 Financial Development-Prep Matthes Revenue and debt info for all funds,info from Coonrod 1.00 375 375.00
3/6/2015 Financial Development-Prep Mouser Clarian TIF to CMC for proofing 0.25 150 37.50
3/10/2015 Financial Development-Prep Mouser Clarian TIF 0.25 150 37.50
3/10/2015 Umbaugh Reports-Review Matthes Clarian TIF and Bonds Report for Nuveen 2.00 375 750.00
3/10/2015 Financial Development-Review Cheek Proofing Clarian TIF report. 1.00 75 75.00
3/16/2015 Financial Development-Prep Mouser Clarian TIF 0.50 150 75.00
3/16/2015 Financial Development-Prep Matthes Delta Expansion info for TIF Developments and future
estimate;additional debt info for Carmel 1.50 375 562.50
3/1712015 Financial Development-Prep Matthes Corrie-impact of lower tax rate on the big TIF-discuss
with Andy 0.25 375 93.75
3/18/2015 Financial Development-Review Amspaugh Verity TIF Billing W kst;Call w Lee Graham 0.25 250 62.50
3/18/2015 Correspondence Mouser TIF bills&TIF appeals;Delta Faucet expansion 0.50 150 75.00
3/19/2015 Financial Development-Prep Mouser Delta Faucet 0.25 150 37.50
3/20/2015 Financial Development-Prep Mouser Clarian TIF-distribute report to Thomas A.Berry 0.25 150 37.50
3/2012015 Financial Development-Review Amspaugh TIF Billing review;Disc w Lee 1.00 250 250.00
3/23/2015 Correspondence Mouser Re:debt 0.25 150 37.50
3/25/2015 Financial Development-Prep Matthes List of outstanding bond issues 1.00 375 375.00
4/3/2015 Financial Development-Prep Amspaugh Lauth,Simon and Kite disc w Loren 0.50 250 125.00
4/6/2015 Correspondence Mouser Re:TIF mapping 0.25 150 37.50
4/10/2015 Financial Development-Prep Mouser Parcel 16-09-36-00-00-005.318 tax bilis 0.75 150 112.50
4/22/2015 Financial Development-Prep Mouser Tax rate impact 1.75 150 262.50
4/22/2015 Financial Development-Prep Matthes TIF and debt info to Mayor 0.50 375 187.50
4/23/2015 Financial Development-Prep Mouser 2015 TIF estimate 3.25 150 487.50
4/23/2015 Financial Development-Prep Matthes Gathering actual TIF data from County Auditor's office for
CRC to counter inaccurate misleading information given
to the media by consultant Wabash Scientific;review list
of 12 parcels and AVs;prepare w/Andy a 2015
Comparison of Projected vs Actual TIF-prepare
summary schedule in excel,draft transmittal message
and send into to CRC 4.00 375 1,500.00
4/24/2015 Financial Development-Prep Mouser New development info;discuss w/LMM 1.00 150 150.00
4/24/2015 Financial Development-Prep Matthes Additional TIF info re:2016 projection etc;call Corrie to
discuss along with other topics for our meeting on 4/29;
debt Info request-IBJ 2.00 375 750.00
4/27/2015 Teleconference Matthes Discuss erroneous TIF info vs correct TIF info;additional
building permit info from Hoilibaugh 1.00 375 375.00
4/28/2015 Financial Development-Prep Ciancio Information on Bond Issues since 2001 and Refunding
Bonds for IBJ reporter 5.75 120 690.00
4/28/2015 Financial Development-Prep Ciancio Refunding Bonds project information for the IBJ 0.25 120 30.00
4/28/2015 Financial Development-Prep Ciancio Information on Refunding Bonds for IBJ Reporter 1.50 120 180.00
4/28/2015 Financial Development-Prep Mouser various info for 04/29/15 mtgs. 3.00 150 450.00
4/28/2015 Financial Development-Prep Stanley Refunding analysis of 2006 COIT Bonds&2006 Taxable
ED Bonds 0.50 130 65.00
4/28/2015 Financial Development-Prep Matthes Gathering Carmel debt info for IBJ article-reporter 2001 to
present 1.00 375 375.00
4/28/2015 Financial Development-Prep Matthes Fact checking for Carmel press release. Review new
2014/15 Carmel building permit info from Hollibaugh for
building expansions,remodels and tenant finishes and
compare to HJU projection,etc.in Excel-separate the
non-BIG TIF permits and add the new permit values 4.00 375 1,500.00
4/28/2015 Financial Development-Prep Matthes Preparing info for meeting with Corrie;checking
refundings,review TIF info,discussing Developer TIF
proposals and FS,etc. 2.00 375 750.00
4/29/2015 Financial Development-Prep Ciancio Bond Data for IBJ Reporter 3.50 120 420.00
4/29/2015 Meeting Mouser Mtg.w/Corrie,Mike,HLA&LMM re:various CRC 2.00 150 300.00
4/29/2015 Travel Mouser Travel to/from mtg. 0.75 150 112.50
4/29/2015 Financial Development-Prep Mouser Follow up from mtg. 0.50 150 75.00
4/29/2015 Teleconference Matthes Mike Hollibaugh re:building permit info,new
developments,values,timing and TIF projection 1.00 375 375.00
4/29/2015 Financial Development-Prep Matthes Additional info re:unanticipated TIF value-more detail on
building permit values(from DOCS)and info on 2015
variance etc.to provide facts to City to respond to media
questions 1.50 375 562.50
4/29/2015 Meeting Matthes With Corrie and Mike Lee re:variety of projects and
topics:BIG TIF 2015 estimate and tax rate impact,Arts
District Lofts TIF/NBI Report,116th Street TIF,possible
refundings;prep time 1.50 375 562.50
4/29/2015 Travel Matthes 0.50 375 187.50
4/30/2015 Financial Development-Prep Amspaugh Debt summary for IBJ;Call w Jared Council 5.50 250 1,375.00
4/30/2015 Financial Development-Prep Matthes Debt info to Jared-IBJ/call;TIF info to Chris Sikich-Indy
Star 6.00 375 2,250.00
4/30/2015 Financial Development-Prep Mouser Various 0.25 150 37.50
5/1/2015 Financial Development-Prep Ciancio Refunding Information for Reporter 0.50 120 60.00
5/1/2015 Financial Development-Prep Mouser NBI 0.25 150 37.50
5/1/2015 Financial Development-Prep Matthes Additional bond info for IBJ-utilities 0.50 375 187.50
5/4/2015 Correspondence Mouser Re:appeals 0.25 150 37.50
5/6/2015 Financial Development-Prep Mouser Lofts A Bonds interest rate for$200,000 savings 0.75 150 112.50
5/6/2015 Financial Development-Prep Matthes Andy's calculation for Corrie re:Lofts Bonds interest rate
reduction needed to reduce D/S by$200,000-for her
meeting with NBol today 0.25 375 93.75
5/8/2015 Financial Development-Prep Mouser Arts Lofts update 1.00 150 150.00
5/8/2015 Financial Development-Review Amspaugh NBI Arts Lofts TIF Rpt review 0.50 250 125.00
5/11/2015 Financial Development-Prep Mouser Arts Lofts Update 1.25 150 187.50
5/11/2015 Financial Development-Prep Matthes IBJ article by Jared Council on Refunding Bonds-review
Carmel section and Colton quote-research and provide
explanation of'net present value"to Jared along with
comments;check data facts,etc.;responding to more
questions about the 2012 Refunding and Installment
Contracts,the 2014 Refunding and potential C COPS;
researching through old reports for prior interest rates and
savings,etc.;drafting response
4.00 375 1,500.00
5/11/2015 Financial Development-Prep Amspaugh IBJ Article review 1.00 250 250.00
5/12/2015 Financial Development-Prep Matthes IBJ article by Jared Council on Refunding Bonds-discuss
NPV explanation with Bob C.and edit and send
responses to Jared's questions 0.75 375 281.25
5/14/2015 Umbaugh Reports-Review Matthes Report for NBol for 2011A EDC Bonds(Arts District Lofts
and Shoppes)review and revise/edit Report 1.00 375 375.00
5/15/2015 Umbaugh Reports-Review Matthes Review revised Report for NBol for 2011A EDC Bonds
(Arts District Lofts and Shoppes) 0.25 375 93.75
5/15/2015 Financial Development-Prep Mouser Arts Lofts Update 0.50 150 75.00
5/18/2015 Financial Development-Prep Mouser Arts District Lofts and Shoppes;other 0.50 150 75.00
5/21/2015 Teleconference Mouser call w/Corrie(w/LMM&HLA) 1.25 150 187.50
5/21/2015 Teleconference Amspaugh Call w Corrie re various projects 0.50 250 125.00
5/21/2015 Teleconference Matthes Conf call w/Corrie to discuss various projects and
questions(2012 Ordinance/Parkwood Reserve),planning
for Maya's projects,etc. 0.50 375 187.50
5/26/2015 Financial Development-Prep Mouser NBI Report 0.25 150 37.50
5/26/2015 Financial Development-Prep Matthes Additional TIF info requested for NBol and EDC Bonds for
Sophia Sq.(Arts District Lofts&Shoppes)from Mike Lee;
discuss with Andy 0.50 375 187.50
5/27/2015 Financial Development-Prep Mouser NBI report 0.25 150 37.50
5/27/2015 Legal Documents Matthes Email request for info from Redevt Authority/Bruce
Donaldson and Trustee-documents needed and
arbitrage calculations;check w/CC and email group 0.50 375 187.50
5/28/2015 Financial Development-Prep Mouser NBI Schedule 2.50 150 375.00
5/29/2015 Financial Development-Prep Matthes ISG-Jamie Browning-call to discuss ISG base value,
changes,comparisons to other adjacent parcels,review
past info,compare to pay'2015 TIF database ISG info,
summarize tax/TIF calculations-email Jamie,additional
tax bills from Jamie 2.00 375 750.00
5/29/2015 Umbaugh Reports-Prep Matthes Lofts&Shoppes Bonds-TIF Report for NBol 0.75 375 281.25
5/29/2015 Teleconference Mouser Call w/LMM&Jamie Browning 1.25 150 187.50
5/30/2015 Umbaugh Reports-Prep Matthes Lofts&Shoppes Bonds-revise TIF Report for NBol-
schedule,footnotes and letter;check 2011A bond
documents 2.00 375 750.00
6/1/2015 Financial Development-Prep Mouser NBI Schedule;Mezz condo circuit breaker analysis 1.25 150 187.50
6/1/2015 Umbaugh Reports-Prep Matthes Lofts&Shoppes Bonds-revise TIF Report for NBol-
schedule,footnotes and letter;check 2011 A bond
documents 0.50 375 187.50
6/3/2015 Teleconference Matthes ISG-call from Jamie Browning 0.25 375 93.75
6/4/2015 Financial Development-Prep Mouser Discuss w/LMM-C COPS,Spine Group,etc.-related
work 1.25 150 187.50
6/5/2015 Financial Development-Prep Mouser Browning medical offices 0.25 150 37.50
6/9/2015 Financial Development-Prep Matthes ISG TIF and tax bill calculation/reconciliation and
comparison to estimate from 2011 and 2013 to 2015 2.00 375 750.00
6/10/2015 Financial Development-Prep Matthes ISG TIF and tax bill calculation/reconciliation and
comparison to estimate from 2011 and 2013 to 2015-edit
schedules,prepare additional calculations and
explanation to Jamie Browning;scan attachments 2.00 375 750.00
6/11/2015 Financial Development-Prep Mouser Spine Group,other various 0.25 150 37.50
6/17/2015 Financial Development-Prep Mouser Mezz 0.25 150 37.50
6/17/2015 Correspondence Matthes
Respond to questions from Corrie re:status of various
items;email to Jamie Browning re:M&M TIF FS call/info 0.25 375 93.75
6/17/2015 Financial Development-Prep Matthes The Mezz: potential change from apartments to condo's-
example calculation for Corrie and explain additional
detail needed to estimate 0.50 375 187.50
6/17/2015 Correspondence Matthes Moody's surveillance questions from Cindy-forward to
Mayor,Curt and notify of call on 6/22 0.50 375 187.50
6/19/2015 Financial Development-Prep Matthes Info for surveillance rating 0.50 375 187.50
6/19/2015 Teleconference Matthes Communications re:Moody's Surveillance rating-Cindy,
Mayor,Curt Cconrod,Sharon Kibbe,Tatiana,etc 1.00 375 375.00
6/22/2015 Financial Development-Prep Mouser Info for Moody's 0.25 150 37.50
6/2 312 01 5 Financial Development-Prep Mouser Appeals info for Moody's;C COPs refunding 0.25 150 37.50
6/25/2015 Teleconference Matthes Jamie Browning re:M&M TIF FS etc. 0.50 375 187.50
6/25/2015 Financial Development-Prep Mouser Info for Moody's;call w/Jamie Browning 1.00 150 150.00
6/26/2015 Financial Development-Prep Amspaugh Email w Pedcor re RSICs settlement/payment calc 0.25 250 62.50
6/29/2015 Bond Sale Matthes Moody's surveillance bond ratings(property tax and
COIT)and report draft-review,discussions with Mayor,
Curt,Tatiana from Moody's and summary to Mayor/Curt 3.00 375 1,125.00
6/30/2015 Financial Development-Prep Mouser 2010 COIT refunding analysis;Grand and Main&Olivia
info to Mike Lee 1.50 150 225.00
7/2/2015 Financial Development-Prep Mouser Spring 2015 settlement 2.00 150 300.00
7/6/2015 Financial Development-Prep Matthes Carmel Legacy Bonds-interest payment-following up on
questions from Trustee regarding interest payment and
principal payment due to not all principal drawn 1.00 375 375.00
7!7/2015 Financial Development-Prep Adiam Proof interest calculation for the secondary installment
contracts 2.00 130 260.00
7/7/2015 Financial Development-Prep Matthes Review VF Secondary IC payment calculation prepared
by Pedcor-Existing Improvement TIF,Allocated D/S from
Primary ICs rolled into 2012 Refunding,Libor rates and
calculation of interest on SIC,interest payment owed by
CRC and interest deferred,amortization of principal due
in the Secondary Period 2.00 375 750.00
7/7/2015 Financial Development-Prep Sharkey review TIF Existing Improvements,Libor rates and
various calculations related to calculation of Secondary IC
interest payment 2.00 130 260.00
7/7/2015 Financial Development-Prep Matthes questions from Trustee regarding payment of Carmel
Legacy Bonds-draw bonds,not all$4.5 MM drawn,
researching-June 2015 TIF settlement,Bond Closing
instructions letter,Trust Indenture-questions,emails WG 2.00 375 750.00
7/7/2015 Financial Development-Prep George 3.00 75 225.00
7/7/2015 Financial Development-Prep Mouser SIC calculation check;Legacy pmt. 0.50 200 100.00
7/8/2015 Financial Development-Prep Matthes Review VF Secondary IC payment calculation prepared
by Pedcor-small changes w/Laurie-revised calc-okay
to Corrie and Mike 0.50 375 187.50
7/9/2015 Financial Development-Prep Matthes follow-up with Sonl,Trustee regarding payment of Carmel
Legacy Bonds-Rich Starkey response-recalculate
interest payment based on actual draw- 0.50 375 187.50
210.75 $48,970.00
Carmel Redevelopment Commission
Invoice Supporting Detail
Re: TIF Financing Feasibility Services(1/8/15-07/9/15)
Date Service Description Employee Memo Hours Rate Amount
1/8/2015 Financial Development-Prep Matthes Potential refundings 0.50 $375.00 $187.50
1/13/2015 Financial Development-Prep Matthes Review with Mouser refunding analysis of 2010 COIT
Refunding Bonds 0.50 375 187.50
2/12/2015 Engagement Planning Matthes Brad Chambers,Buckingham and Simon-potential
project in Carmel 0.25 375 93.75
2/17/2015 Teleconference Amspaugh Call w Buckingham Properties and Simon re potential
Clay Terrace project 0.50 250 125.00
2/27/2015 Correspondence Matthes Clay Terrace ph 2-follow-up w/Simon and
Buckingham;additional ideas re:TIF Area,project,etc. 1.00 375 375.00
4/3/2015 Teleconference Matthes Clay Terrace-new projects-Brad Chambers,
Buckingham and Simon 0.50 375 187.50
4/29/2015 Financial Development-Prep Stanley
Refunding analysis of 2004A Bonds and 2010C COP's 0.50 130 65.00
5/7/2015 Financial Development-Prep Matthes Based on discussion with Mayor Brainard re:financial
planning for projects,and new revenue-discuss
various ideas and revenue sources,etc. 0.25 375 93.75
5/7/2015 Financial Development-Prep Mouser Discuss w/LMM call w/Mayor Brainard 0.25 150 37.50
5/7/2015 Teleconference Matthes Call from Mayor Brainard re:financial planning for
projects,and new revenue-discuss various ideas and
revenue sources,etc. 0.50 375 187.50
5/13/2015 Financial Development-Prep Matthes Info from and to Mayor Brainard/Coonrod re:General
Fund and CCD,COIT,tax rate and levy,etc. 0.50 375 187.50
5/14/2015 Financial Development-Prep Matthes Discuss w/GGM-Utility financing 0.50 375 187.50
5/14/2015 Teleconference Matthes Call w/GGM and J.Duffy-Utility financing 0.50 375 187.50
5/14/2015 Teleconference Malone Call with John Duffy 0.50 430 215.00
5/22/2015 Teleconference Matthes Mayor Brainard re:GF,tax rate,COIT,bonds,etc. 0.25 375 93.75
5/27/2015 Financial Development-Prep Matthes Utility financing 0.50 375 187.50
5/27/2015 Travel Matthes 0.50 375 187.50
5/27/2015 Meeting Matthes John Duffy and B Clifford-explore utility financing
options 1.00 375 375.00
6/2/2015 Financial Development-Prep Matthes Respond to Gramercy question from-Nancy Heck 0.25 375 93.75
6/29/2015 Financial Development-Prep Mouser 2010 COIT refunding analysis 0.25 150 37.50
7/2/2015 Financial Development-Prep Matthes Potential refunding of 2010 COIT LR Bonds -review
analysis 0.50 375 187.50
10.00 $3,480.00
Meridian Heights/Meridian&Main-Jamie Browning
6/3/2015 Teleconference Matthes M&M TIF FS-call from Jamie Browning 0.25 375 93.75
6/10/2015 Financial Development-Prep Mouser Meridian Heights TIF FS-review Jamie's est AV's and
comp's,TIF calc. 1.50 150 225.00
6/10/2015 Financial Development-Prep Matthes M&M TIF FS-reviewing/discussing Jamie's estimates
w/Andy-email comments to Jamie 1.75 375 656.25
6/25/2015 Teleconference Amspaugh Meridian&Main Conference Call 0.50 250 125.00
4.00 $1,100.00
Carmel Redevelopment Commission
Invoice Supporting Detail
Re: Anderson-Birkla-Party Time-TIF Feasibility(2/19/15-7/9/15)
Date Service Description Employee Memo Hours Rate Amount
Anderson Birkla TIF FS fee est for
2/12/2015 Engagement Planning Matthes Jeremi;planning FS 0.50 $375 $187.50
2/13/2015 Correspondence Mouser Party Time-Anderson Birkla 0.25 150 37.50
2/17/2015 Correspondence Mouser Re:Anderson Birkla-Party Time 0.25 150 37.50
3/3/2015 Financial Development-Prep Mouser TIF Financing Feasibility(FS) 0.75 150 112.50
3/4/2015 Financial Development-Prep Matthes TIF Financing Feasibility(FS) 0.50 375 187.50
3/4/2015 Financial Development-Prep Mouser FS Party Time 3.75 150 562.50
3/5/2015 Financial Development-Prep Mouser FS Party Time 0.25 150 37.50
3/6/2015 Financial Development-Prep Mouser FS Party Time to CMC for proofing 0.50 150 75.00
3/6/2015 Financial Development-Revie,Cheek Proofing FS Party Time 1.00 75 75.00
3/10/2015 Financial Development-Prep Mouser FS 1 0.50 150 75.00
3/11/2015 Financial Development-Prep Mouser Draft FS to working group 0.50 150 75.00
3/11/2015 Umbaugh Reports-Review Matthes TIF FS 1.00 375 375.00
3/12/2015 Financial Development-Prep Mouser FS Party Time 0.50 150 75.00
4/27/2015 Financial Development-Prep Mouser Prep for 04/29/15 mtg. 0.75 150 112.50
11.00 $2,025.00
Carmel Redevelopment Commission
Invoice Supporting Detail
Re: MidTown-TIF Feasibility(9/11/14-7/9/15)
Date Service Description Employee Memo Hours Rate Amount
9/11/2014 Financial Development-Prep Mouser Prep for mtg.(tentative) 0.25 120 30.00
9/12/2014 Travel Mouser Travel to mtg. 0.75 120 90.00
9/12/2014 Financial Development-Prep Mouser Prep for mtg. 0.75 120 90.00
9/12/2014 Meeting Mouser Mtg. 2.50 120 300.00
9/15/2014 Financial Development-Prep Matthes Discuss 9/12 Midtown meeting w/Andy-discuss
developments,parking garage,TIF FS,Bond
purchaser,etc. 0.50 340 170.00
9/15/2014 Financial Development-Prep Mouser Midtown follow-up,discuss w/LMM 0.75 120 90.00
9/16/2014 Correspondence Matthes Fee estimate to Corrie;comments from Bruce 0.25 340 85.00
9/16/2014 Financial Development-Prep Mouser Set up mtg.w/developer 0.50 120 60.00
9/17/2014 Correspondence Mouser Re:call w/Old Town 0.50 120 60.00
9/19/2014 Financial Development-Prep Mouser Follow-up from 09/18/14 mtg. 0.25 120 30.00
9/22/2014 Teleconference Matthes Andrew Greenwood,Old Town Design Group re:
plans/TIF FS for Midtown;prep for call 0.50 340 170.00
9/22/2014 Financial Development-Prep Mouser Conf call w/Andrew Greenwood,discuss w/LMM 1.25 120 150.00
9/26/2014 Correspondence Mouser Re:mtg.w/Andrew Greenwood 0.50 120 60.00
9/29/2014 Financial Development-Prep Mouser Mtg.scheduling 0.25 120 30.00
9/30/2014 Correspondence Mouser Reimbursement agreement 0.25 120 30.00
9/30/2014 Legal Documents Matthes Reimbursement Agreement 0.50 340 170.00
10/1/2014 Financial Development-Prep Matthes Midtown development plan,phases,etc. 0.50 340 170.00
10/1/2014 Meeting Matthes Meet with Andrew Greenwood to discuss Midtown
development plan,phases,etc. 1.50 340 510.00
10/1/2014 Financial Development-Prep Mouser Reimb agree,mtg.w/developer 2.25 120 270.00
10/3/2014 Financial Development-Prep Mouser Development assumptions 0.75 120 90.00
10/4/2014 Financial Development-Prep Mouser Midtown assumptions(confirm w/Andrew Greenwood) 1.00 120 120.00
10/23/2014 Correspondence Mouser Re:mtg.w/assessor's office re:brownstones 0.50 120 60.00
10/24/2014 Financial Development-Prep Matthes Communications w/Lisa Lee re:assessment meeting
w/Kevin Poors,additional questions from Andy to
Andrew on developments for TIF FS 0.25 340 85.00
10/28/2014 Correspondence Mouser Re:mtg.w/assessor 0.25 120 30.00
10/29/2014 Financial Development-Prep Mouser Prep for&follow up from mtg.w/Kevin Poore,Bruce
Donaldson,Lisa Lee,Andrew Greenwood 0.75 120 90.00
10/29/2014 Travel Mouser Travel to/from mtg. ®assessor's office 1.00 120 120.00
10/29/2014 Meeting Mouser Mtg.®assessor's office 1.00 120 120.00
11/24/2014 Correspondence Mouser Bruce Donaldson/Lisa Lee 0.50 120 60.00
11/25/2014 Correspondence Mouser Re:EDA 0.50 120 60.00
11/26/2014 Legal Documents Matthes Questions,maps,and legal descriptions relating to the
proposed Midtown TIF Area and the original Old Town
EDA,etc.-emails and legal doc's from and to Bruce D.,
Corrie,Mike,etc. 1.00 340 340.00
12/1/2014 Correspondence Mouser Re:EDA 0.25 120 30.00
3/5/2015 Financial Development-Prep Mouser Info summary&questions to Corrie 0.50 150 75.00
4/28/2015 Financial Development-Prep Mouser Feview midtown info;prep for 04/29/15 mtg. 0.75 150 112.50
4/29/2015 Meeting Matthes With Corrie and Mike Lee;and prep time 0.50 375 187.50
5/1/2015 Correspondence Mouser Re:mtg.w/Andrew Greenwood and Barrett&Stokely 0.25 150 37.50
5/7/2015 Financial Development-Prep Matthes Merchants Bank announcement etc 0.25 375 93.75
5/12/2015 Financial Development-Prep Mouser Timing&assumptions 0.25 150 37.50
5/12/2015 Financial Development-Prep Matthes Discussion/provide info on CTPs and CRED to Justin,
Mayor,Bruce D,at al;email to Corrie re:timing of TIF
FS 1.00 375 375.00
5/13/2015 Financial Development-Prep Mouser Assumptions&timing 0.25 150 37.50
5/18/2015 Financial Development-Prep Mouser Discuss w/HLA 0.50 150 75.00
5/19/2015 Meeting Amspaugh Mtg w Barrett Stokely&Andrew Greenwood re Midtown' 1.50 250 375.00
5/19/2015 Meeting Matthes Meeting with Developers of Midtown apartments-Old
Towne Developers and Barrett and Stokely 1.75 375 656.25
5/19/2015 Financial Development-Prep Mouser Prep for,attend,follow up from-mtg.w/Old Town&
Barrett and Stokely 2.25 150 337.50
6/4/2015 Financial Development-Prep Mouser Call w/Denny Barrett @ Barrett&Stokely 0.50 150 75.00
32.50 6,245.00
Carmel Redevelopment Commission
Invoice Supporting Detail
Re: Pedcor Parcel 5-City Center 2-District TIF Bonds(1218/114-7/9/15)
Date Service Description Employee Memo Hours Rate Amount
12/812014 Meeting Matthes Council Land Use Committee 2.00 $340.00 $660.00
12/8/2014 Financial Development-Prep Matthes New square footage on several buildings from Laurie
Siler,Pedcor;calculate impact on TIF,review new bond
schedules 1.00 340 340.00
12/8/2014 Travel Matthes 0.50 340 170.00
12/9/2014 Financial Development-Prep Matthes Meeting follow-up 0.50 340 170.00
12/9/2014 Umbaugh Reports-Prep Matthes Revising 0.50 340 170.00
12/1012014 Umbaugh Reports-Review Matthes Review revised TIF FS report for Parcel 5 0.75 340 255.00
12/10/2014 Financial Development-Review Amspaugh Review Feasibility Analysis(FS) 1.25 220 275.00
12/1012014 Legal Documents Matthes Redline Project Agreement 1.00 340 340.00
12/11/2014 Travel Matthes 0.50 340 170.00
12/11/2014 Meeting Mouser Council finance committee mtg. 0.75 120 90.00
12/11/2014 Travel Mouser Travel to/from council finance committee mtg. 0.75 120 90.00
12/11/2014 Financial Development-Prep Mouser Prep for council finance committee mtg. 0.75 120 90.00
12111/2014 Meeting Matthes Finance Committee and prep 1.00 340 340.00
12/12/2014 Financial Development-Prep Mouser Follow up from council committee mtgs.;agreements,
guaranties,PIATTs 0.50 120 60.00
12/12/2014 Teleconference Amspaugh Conference call w Laurie re RSICs payment calculation;
Review schedules 1.50 220 330.00
12/15/2014 Travel Matthes 0.50 340 170.00
12/15/2014 Meeting Matthes Council Committee meeting and Council meeting 2.50 340 850.00
12/15/2014 Financial Development-Prep Mouser Special council land use committee mtg.&council mtg. 2.75 120 330.00
12/15/2014 Financial Development-Prep Mouser Prep for special council committee mtg.&council mtg. 1.75 120 210.00
12/15/2014 Travel Mouser Travel to/from special council land use committee mtg.8 0.75 120 90.00
12/16/2014 Financial Development-Prep Mouser Follow up from 12/15/14 mtgs. 1.00 120 120.00
12/16/2014 Legal Documents Matthes Emails-Shoup,Siler,Brown re:Agreements,exhibits,
TIF and D/S schedule,etc. 0.50 340 170.00
12/18/2014 Financial Development-Prep Mouser Tax Impact Statement(TIS) 0.25 120 30.00
1/5/2015 Financial Development-Prep Mouser TIS 0.50 150 75.00
1/5/2015 Regulatory Report-Prep Matthes Prepare Tax Impact Statement;review Declaratory
Resolution,other info sources 4.00 375 1,500.00
1/712015 Regulatory Report-Prep Matthes Prepare Tax Impact Statement;review Declaratory
Resolution,other info sources 1.00 375 375.00
1/7/2015 Financial Development-Prep Mouser Parcel 5 TIS 1.00 150 150.00
1/8/2015 Financial Development-Prep Mouser TIS;other 3.00 150 450.00
1/8/2015 Regulatory Report-Prep Matthes TIS 1.00 375 375.00
1/8/2015 Umbaugh Reports-Prep DeBerry TIS Copy,mail 0.25 95 23.75
1/9/2015 Financial Development-Prep Mouser TIS,other work 0.50 150 75.00
1/14/2015 Correspondence Matthes Cancellation of CRC meeting on 1121 and need to
change and re-distribute TIS for new Pedcor Parcel 5
TIF Areas 0.25 375 93.75
1/14/2015 Financial Development-Prep Mouser Re:public hearing on new TIF areas 0.50 150 75.00
1/15/2015 Correspondence Mouser Re:TIS&public hearings 0.25 150 37.50
1/21/2015 Correspondence Amspaugh Disc w Loren and Andy re Project Agreement 0.50 250 125.00
1/2112015 Correspondence Mouser< 'Assumed Principal Amount'in Project Agreement 2.00 150 300.00
112112015 Legal Documents Matthes Jenny Shoup re:Project Agreement and
definition/amount of Assumed Principal Amount and
description of interest rate buy-down options;reviewing
22 pages of Definitions,etc.;internal
discussion/analysis;emails to Jenny and Bruce and
Brad re: "Assumed Principal Amount" 2.00 375 750.00
Project Agreement-reading through various email
1/23/2015 Legal Documents Matthes discussions-Karl,Jenny and B&T and HJU 0.50 375 187.50
1/27/2015 Correspondence Mouser Re:TIS,CRC mtg. 0.50 150 75.00
2/3/2015 Financial Development-Prep Mouser Revised TIS 1.50 150 225.00
2/4/2015 Financial Development-Prep Mouser TIS Revised 0.25 150 37.50
2/4/2015 Regulatory Reports-Review Matthes Revised Impact Statement and letters-2nd distribution
of TIS to taxing units due to change of CRC Hearing
date and 10 day requirement 0.50 375 187.50
2/5/2015 Financial Development-Prep Mouser TIS for distribution 0.50 150 75.00
2/5/2015 Umbaugh Reports-Prep DeBerry TIS Revised Copy,mail 0.50 95 47.50
2/6/2015 Financial Development-Prep Mouser TIS 0.50 150 75.00
2/11/2015 Legal Documents Mouser Legal docs for 02/18/15 mtg. 0.25 150 37.50
2/1212015 Correspondence Mouser re:public hearings 0.25 150 37.50
2/17/2015 Teleconference Amspaugh Call w Auditor's office re air parcels 0.25 250 62.50
Calls w/LMM w/Lee Graham,Bruce Donaldson and
others re:air rights parcels;other work in prep for
2/17/2015 Financial Development-Prep Mouser 02/18/15 mtg. 1.50 150 225.00
2/17/2015 Legal Documents Matthes Questions and conversations re:new air right TIF
Areas,new parcel#'s,deeds,establishment,legal and
practical requirements;calls/emails with Bruce D,Lee
Graham,County Auditor and reps from County mapping
-email to Pedcor,Bruce et al;Bond Resolution,
Confirmatory Resolutions from Bruce D.for the CRC
meeting on 2/18/15 2.50 375 937.50
2/18/2015 Travel Mouser Travel to/from RDC mtg. 0.75 150 112.50
2/18/2015 Meeting Mouser CRC mtg. 1.00 150 150.00
2/18/2015 Financial Development-Prep Mouser Prep for 02/18/15 mtg. 2.25 150 337.50
2/19/2015 Financial Development-Prep Mouser Follow up from 02/18/15 mtg. 0.50 150 75.00
2/24/2015 Financial Development-Prep Mouser Bonds @ 4.6%,10%&12%interest rates 1.00 150 150.00
Responding to into requests related to debt and Pedcor
2/24/2015 Financial Development-Prep Matches bonds w/TIF/SBT and w/o;calc's from Andy 1.00 375 375.00
2/25/2015 Financial Development-Prep Matthes Assistance re:establishment of new parcels/air rights;
analysis regarding interest cost differential of bonds
without City/CRC general tax back-up,TIF only with
Pedcor guarantee-lack of marketability or much higher
taxable interest rates 1.50 375 562.50
2/25/2015 Legal Documents Matthes Emails(Bruce DdPedcor)and phone call w/Ron Brown
re:establishment of TIF Area prior to 2/28/15-legal
doc's,new parcels and maps to County Auditor 0.50 375 187.50
2/25/2015 Correspondence Mouser Re:set up of new allocation areas 0.25 150 37.50
3/4/2015 Financial Development-Prep Mouser Check databases 0.75 150 112.50
3/16/2015 Financial Development-Prep Mouser Legal docs 0.50 150 75.00
59.50 $14,330.00
Carmel Redevelopment Commission
Invoice Supporting Detail
Re: Edward Rose-Grand&Main-EDC Bonds(1/1/15-7/9/15)
Date Service Description Employee Memo Hours Rate Amount
2/18/2015 Legal Documents Mouser Resolution for 02/18/15 mtg. 0.25 150 37.50
2/25/2015 Correspondence Mouser Re:set up of new allocation areas 0.25 150 37.50
2/26/2015 Financial Development-R Mouser Check set-up of Grand&Main database 0.50 150 75.00
1.00 150.00
Prescribed by State Board of Accounts City Form No.201(Rev.1995)
: ACCOUNTS PAYABLE VOUCHER
CITY OF CARMEL
An invoice or bill to be properly itemized must show: kind of service, where performed, dates service rendered, by
whom, rates per day, number of hours, rate per hour, number of units, price per unit, etc.
Payee
u� i h 4 A A Purchase Order No.
$�65 KeyStohe Cro55in9, Suike 300 Terms
T h ankh l j y 40-4-2-W Date Due
Invoice Invoice Description Amount
Date Number (or note attached invoice(s) or bill(s))
7-10-15 )4011E T - e + r rv'ileS 970.eo
7-W-15 1402,11 hanejAltan e f 3.4P0 do
V —I5 iq022-1 T ibr er!6h 1,100.00
-10-15 1`f014 TIF fe&5)billij for Proscenium ?rd)ctf 2,OZ5
71—I5 14113 TTP fe oAl li4 44owrl 6 2µS,00
VU-15 14022— ci� (CnAer f kmt U �'S t nes 330.°0
i-IO-IS 402-33 TIF C 615 for 6rinj &rA 1501 -
Total 7GJ 300.eo
I hereby certify that the attached invoice(s), or bill(s), is (are) true and correct and I have audited same in accor-
dance with IC 5-11-10-1.6.
, 20-
Clerk-Treasurer
20Clerk-Treasurer
VOUCHER NO. WARRANT NO.
ALLOWED 20
I�• �• Umd��yT,ASSoLid�eS IN SUM OF $
3-165 Ke j5itne C ro55i:h� Sui+e 30U
$ 7000"
ON ACCOUNT OF APPROPRIATION FOR
IRdl/`I'3 000
Board Members
PO#or D PT.# INVOICE NO. ACCT#/TITLE AMOUNT I hereby certify that the attached invoice(s),
�7Q e0 or bill(s) is (are) true and correct and that
IN 2 qSO.op the. materials or services itemized thereon
0 3qOOO x,100.°° for which charge is made were ordered and
02 9_1 1j025 a0 received except
1 0223 �{3 000 G 2�5•°o
0 1412-5
01 I 233 01`04H15Q.00
11—13- 2015
Signature
Executive Direc or
Title
Cost distribution ledger classification if Carmel Redevelopment Commission
claim paid motor vehicle highway fund