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HomeMy WebLinkAboutCRC-12-21-15CRC Meeting, December 21, 2015 1 CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday, December 21, 2015 ATTENDANCE: President Bill Hammer Present Vice President Dave Bowers Present Secretary Jeff Worrell Present Treasurer Diana Cordray Not Present Member Bill Brooks Present Member Robert Dalzell Present Member Michael Kerschner Present Executive Director Corrie Meyer Present Office Manager Michael Lee Present Legal Consultant Anneliese Williams Present President Bill Hammer called the meeting to order at 8:15 a.m. The Pledge of Allegiance was said. Public Hearing Resolution amending the Declaratory Resolution and Development Plan for the Integrated 126th Street Corridor Economic Development Area (Proscenium allocation area) Mrs. Meyer gave background on the Proscenium, formerly known as the Party Time Rental site, stating Anderson Birkla has received all of its approvals from City Council and the Economic Development Commission and now the resolution is before the CRC again. Anneliese Williams of Barnes and Thornburg stated there is a modification to the resolution since it was first represented to the CRC. This modification removes the Arby’s parcel from the allocation area. Mr. Hammer declared the Public Hearing open at 8:17 a.m. and asked the public if there was anyone in favor or opposed to the resolution amending the declaratory resolution. There was no response from the public and, therefore, Mr. Hammer closed the Public Hearing at 8:17 a.m. New Business Approval of Resolution 2015-12 of the City of Carmel Redevelopment Commission Confirming Amendments to the Declaratory Resolution and Development Plan for the Integrated 126th Street Corridor Economic Development Area (Proscenium) Mr. Hammer noted Mr. Kerschner found a scrupulous error on page 2 in the third whereas clause, that should read “the commission now desires.” Mr. Brooks motioned to approve Resolution 2015-12 re: Confirming the Amendments to the Declaratory Resolution and Development Plan for the Integrated 126th Street Corridor Economic Development Area, which includes the scrupulous error. Seconded by Mr. Bowers and passed unanimously. Approval of Proscenium Project Agreement Mrs. Meyer stated the project agreement has been presented to the City Council, with no City Council members recommending any changes. The project agreement represents the agreement between Anderson Birkla and the CRC. Construction begins January 2016 with completion at the end of 2017. Mrs. Meyer noted the exhibits are not in the documents placed before the CRC commissioners at this meeting but are available at the CRC office and will be included in the final documentation. Mr. Bowers made a motion to approve the Proscenium Project Agreement. Mr. Dalzell seconded and was approved unanimously. Approval of Resolution 2015-13 of the City of Carmel Redevelopment Commission Pledging Certain Tax Increment Revenues to the Payment of the City of Carmel, Indiana, Economic Development Revenue Bonds, Series 2015 (Proscenium Project) CRC Meeting, December 21, 2015 2 Mr. Hammer asked if there was a closing scheduled for the Party Time property. Mrs. Meyer stated it is anticipated to close before the end of 2015. Ms. Williams gave background concerning the resolution, stating that it was a TIF resolution pledging the TIF from the new allocation area to the bonds. This is a 75% pledge of the TIF, the other 25% is to be retained by the CRC to be used for other purposes. Discussion ensued. Mr. Worrell motioned to approve Resolution 2015-13 re: Pledge of Certain Tax Increment Revenues to the Payment of the City of Carmel, Indiana, Economic Development Revenue Bonds, Series 2015 (Proscenium Project). Mr. Bowers seconded. Approved unanimously. Adjournment Mr. Dalzell moved the meeting be adjourned pending the execution of documents, seconded by Mr. Bowers. The meeting was adjourned at 8:25 a.m. A joint meeting will take place on Monday, January 4, 2016 at 4:30 p.m. with the Carmel Redevelopment Authority. The next regularly scheduled meeting is Wednesday, January 20, 2016 at 6:30 p.m.