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HomeMy WebLinkAbout01 January 04 MinutesCRC Meeting, January 4, 2016 1 CARMEL REDEVELOPMENT COMMISSION & CARMEL REDEVELOPMENT AUTHORITY Meeting, Monday, January 4, 2016 ATTENDANCE (CRC): President Bill Hammer Present Vice President Dave Bowers Present Secretary Jeff Worrell Present Treasurer Christine Pauley Not Present Member Bill Brooks Present (via phone) Member Robert Dalzell Present Member Michael Kerschner Present Executive Director Corrie Meyer Present Office Manager Michael Lee Present Legal Consultant Financial Consultant ATTENDANCE (CRA): Bruce Donaldson Loren Matthes Present Present President Robert Bush Present Secretary/Treasurer Henry Mestetsky Present CRC President Bill Hammer called the meeting to order at 4:32 p.m. The Pledge of Allegiance was said. Public Hearing 1 Financing Lease for City Bonds to be issued by the Carmel Redevelopment Authority Mr. Donaldson gave background stating this was a proposed bond for city projects similar to projects done in the past for road projects and would be paid by the City’s General Fund. Discussion ensued. Mr. Hammer declared the Public Hearing open at 4:35 p.m. and asked the public if there was anyone in favor or opposed to the financing lease for City Bonds. There was no response from the public and, therefore, Mr. Hammer closed the Public Hearing at 4:36 p.m. Public Hearing 2 Financing Lease for Redevelopment Commission Bonds to be issued by the Carmel Redevelopment Authority Mr. Donaldson gave background and explained the estimated net project fund is approximately $10 million. Loren Matthes of Umbaugh and Associates also added financial details concerning the lease. Mr. Hammer declared the Public Hearing open at 4:50 p.m. and asked the public if there was anyone in favor or opposed to the financing lease for Redevelopment Commission Bonds. There was no response from the public and, therefore, Mr. Hammer closed the Public Hearing at 4:50 p.m. Public Hearing 3 Financing Lease for refinancing Redevelopment Commission Bonds to be issued by the Carmel Redevelopment Authority Mr. Donaldson gave background, explaining the lease relates to a financing that was done in 2010 called the C COP’s (Certificates of Participation) financing – installment purchase financing related to the Energy Center project. This lease can now be refinanced and includes a special benefits tax, which will reduce the rate to help with the TIF cash flow. Mr. Hammer declared the Public Hearing open at 4:55 p.m. and asked the public if there was anyone in favor or opposed to CRC Meeting, January 4, 2016 2 the financing lease for refinancing Redevelopment Commission Bonds. There was no response from the public and, therefore, Mr. Hammer closed the Public Hearing at 4:55 p.m. New Business Approval of Resolution 2016-01 re: Financing lease for City bonds Mr. Donaldson provided background. This resolution authorizes a financing lease for bonds to be issued by the Redevelopment Authority for various City road projects, to be paid for out of COIT and other general City revenues with a property tax (SBT) back-up, along with the form of Lease for this financing. Mr. Worrell moved to authorize the execution of Resolution 2016-01 and the lease agreement between the City of Carmel Redevelopment Authority and the City of Carmel Redevelopment Commission in the form presented. Mr. Bowers seconded and passed unanimously by CRC. Mr. Mestetsky motioned to approve and Mr. Bush seconded; passed unanimously by CRA. Approval of Resolution 2016-02 re: Financing lease for CRC bonds Mr. Donaldson referred to the explanation discussed earlier during the public hearing. This resolution authorizes a financing lease for bonds to be issued by the Redevelopment Authority for various redevelopment projects, to be paid for out of TIF and other general CRC revenues with a property tax (SBT) back-up, along with the form of Lease for this financing. Mr. Bowers motioned to authorize the execution of Resolution 2016-02 and the lease agreement between the City of Carmel Redevelopment Authority and the City of Carmel Redevelopment Commission in the form presented. Mr. Dalzell seconded and passed unanimously by CRC. Mr. Mestetsky motioned to approve and Mr. Bush seconded; passed unanimously by CRA. Approval of Resolution 2016-03 re: Financing lease for refinancing Certificates of Participation, Series 2010C Mr. Donaldson stated the resolution authorizes a financing lease for bonds to be issued by the Redevelopment Authority to refinance the 2010 C Energy Center installment contracts (C COPS), to be paid for out of TIF and other general CRC revenues with a property tax (SBT) back-up, along with the form of Lease for this financing. Mr. Bowers motioned to authorize the execution of Resolution 2016-03 and the lease agreement between the City of Carmel Redevelopment Authority and the City of Carmel Redevelopment Commission in the form presented. Mr. Kerschner seconded and passed unanimously by CRC. Mr. Mestetsky motioned to approve and Mr. Bush seconded; passed unanimously by CRA. Approval of Resolution 2016-04 re: Acceptance of property from City (Fire Station parking lot) Mrs. Meyer gave background stating the property located at 0 3rd Avenue SW (Fire Station parking lot) transfer results for a desire that the sale and ultimate use of this property be within the control of the CRC. There is a similar transfer of property Resolution being processed through the Common Council for its approval on this same property because both bodies must resolve to agree to this transfer. Mayor Jim Brainard added that this will provide two developments to be connected to complete the city block for walkability purposes. Discussion ensued. Mr. Worrell moved to approve Resolution 2016-04 re: Intergovernmental Transfer of Real Property Interest. Mr. Bowers seconded; passed unanimously. Adjournment Mr. Bowers moved the meeting be adjourned pending the execution of documents, seconded by Mr. Dalzell. The meeting was adjourned at 5:10 p.m. The next regularly scheduled meeting is Wednesday, January 20, 2016 at 6:30 p.m.