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HomeMy WebLinkAbout03 March 23 MinutesCRC & CRA Meeting, March 23, 2016 1 CARMEL REDEVELOPMENT COMMISSION & CARMEL REDEVELOPMENT AUTHORITY Meeting Wednesday, March 23, 2016 ATTENDANCE (CRC): President Bill Hammer Present Vice President Dave Bowers Present Secretary Henry Mestetsky Present Treasurer Christine Pauley Present Member Bill Brooks Present (Webstream/text) Member Member Jeff Worrell Michael Kerschner Present Present Executive Director Corrie Meyer Present Office Manager Michael Lee Present Legal Consultant Mayor Bruce Donaldson James Brainard Present Present ATTENDANCE (CRA): President Robert Bush Present Secretary/Treasurer Debbie Sipes Present President Bill Hammer called the meeting to order at 8:06 a.m. The Pledge of Allegiance was said. Bid Opening Mrs. Meyer stated the bid opening is for the Sophia Square courtyard FF&E package. There will be two phases in the project; the first is design-build for installation of fixtures and furnishings. The CRC received one bid from Smock Fansler for $485,000. Public Hearing Mr. Donaldson gave background concerning the amendments to Old Towne EDA Declaratory Resolution and Plan (Midtown Project). The public hearing is the last stage of a four-step process for creating Midtown as its own separate allocation area. Mr. Justin Moffett of Old Town Development explained the history of the project and stated it’s a long term positive public investment. Mr. Hammer declared the public hearing open at 8:11 a.m. There was no one from the public present to speak in favor or in opposition of the amendments. The public hearing was closed at 8:11 a.m. Old Business None at this time. New Business Acceptance of engagement letter from accounting firm Crowe Horwath Mrs. Meyer stated the CRC has asked Crowe Horwath to assist with a small redevelopment project with the City. She would like the Commission to accept the engagement letter fr om Crowe Horwath for their short term financial services in relation to analysis of TIF projects. Discussion ensued. Mr. Bowers motioned to accept the engagement letter from Crowe Horwath CRC & CRA Meeting, March 23, 2016 2 for their accounting and advisory services. Mr. Worrell seconded and was approved unanimously. Other Business Reinstating CRC grant program for the Arts and Design District Mrs. Meyer stated the CRC previously held a grant program for external impro vements in the Carmel Arts & Design District where there were matching dollars for exterior signs and façade improvements. The CRC role is to follow the statute to serve and protect property values and asks the Commission to reinstate the program. Discussion ensued and it was clarified that this program’s focus is exterior and per tenant. Mr. Mestetsky motioned to reinstate the CRC grant program for the Carmel Arts & Design District, seconded by Mr. Bowers. Approved unanimously. Adjournment Mr. Bowers moved the meeting be adjourned pending the execution of documents, seconded by Mr. Worrell. The meeting was adjourned at 8:19 a.m. The next special meeting takes place on Thursday, April 7, 2016 at 5:30 p.m. The next regularly scheduled meeting is Wednesday, April 20, 2016 at 6:30 p.m. CARMEL REDEVELOPMENT AUTHORITY MEETING President Rob Bush called the meeting to order at 8:20 a.m. Election of Officers Mr. Bush opened the floor to nominations for officers. Mr. Bush nominated Ms. Sipes for Secretary/Treasurer, he seconded and passed unanimously. Resolution 2016-2: Approval of the Midtown Bonds Lease Agreement Mrs. Meyer gave background on the Midtown project and stated that the developers, etc. hope to break ground this spring, 2016. This bond is estimated to generate TIF proceeds net of $12.7 million for the infrastructure costs to the two garages and the plaza because the CRC has a city special benefits tax back up. Due to this tax, there is a series of guarantees and protections that are commitments made by developers in order to serve as a stop gap to having a n SBT called upon. Mr. Donaldson stated the CRA would issue the bonds and finance the two parking garages and perhaps part of the public plaza. The CRA would own the assets during the life of the bonds, lease them to the CRC, and then the CRC lease payments from other sources would, in turn, pay the bonds. As per procedure, the City, as well as the CRC, have already approved the bonds and the lease. Ms. Sipes motioned to pass Resolution 2016-2, seconded by Mr. Bush. Passed unanimously. Other Business Mayor Brainard stated that he has appointed John Getz to the CRA. For signature, Mrs. Pauley introduced three Certificates of Good Standing regarding compliance with tax and interest payments for calendar year 2015. Adjournment Mr. Bush moved the meeting be adjourned pending the execution of documents, seconded by Ms. Sipes. The meeting was adjourned at 8:31 a.m.