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HomeMy WebLinkAbout01 January 20 MinutesCRC Meeting, January 20, 2016 1 CARMEL REDEVELOPMENT COMMISSION Meeting Wednesday, January 20, 2016 ATTENDANCE: President Bill Hammer Present Vice President Dave Bowers Present Secretary Robert Dalzell Present Treasurer Christine Pauley Not Present Member Bill Brooks Not Present Member Michael Kerschner Present Executive Director Corrie Meyer Present Office Manager Michael Lee Present Legal Consultant Karl Haas Present President Bill Hammer called the meeting to order at 6:40 p.m. The Pledge of Allegiance was said. Election of Officers Mr. Hammer opened the floor to nominations for officers. Mr. Dalzell nominated Mr. Hammer for president and Mr. Bowers seconded; passed unanimously. Mr. Dalzell nominated Mr. Bowers for vice president; passed unanimously. Mr. Bowers nominated Mr. Dalzell for secretary; passed unanimously. Appointment of Committees Mrs. Meyer recommended suspending the appointments to the Finance Committee and Architectural Review Committee until the CRC has a full slate of members. Approval of Minutes December 14, 2015: Mr. Dalzell moved to approve, seconded by Mr. Bowers. Unanimously approved. December 16, 2015: Mr. Bowers moved to approve. Seconded by Mr. Dalzell and passed unanimously. December 21, 2015: Mr. Dalzell motioned to approve, seconded by Mr. Bowers. Passed unanimously. Financial Matters Mr. Lee stated the Commission’s end of the month December balance totaled $1,752,956 and including the restricted funds totaled $2,529,621; this reflects $5.4 million sent to the City to pay for City bonds at the end of December. The CRC is working with the City Clerk Treasurer’s office to receive payment of reimbursement. Update on Outstanding Receivables Mr. Lee stated the only outstanding receivable is the reimbursement for Project Blue invoices at approximately $14,000. Approval of Claims Mr. Lee requested the Commission approve non-operating invoices in the amount of $204,952.72. Mr. Dalzell requested on update on The Palladium landscaping, discussion ensued. CRC Meeting, January 20, 2016 2 Mr. Bowers moved to approve payment of the non-operating invoices in the amount of $204,952.72, seconded by Mr. Dalzell. Pass unanimously. Executive Director Report with Update on Properties Mrs. Meyer discussed the 2015 Annual Report, which includes strategic and financial highlights, CRC staff and members. Discussion ensued. Updates on projects included: Park East Garage, Mezz 42, Midtown and The Proscenium. Committee Reports Mr. Bowers stated the Finance Committee did not meet. Discussion ensued. Mr. Dalzell stated the Architectural Review Committee did not meet. Old Business None at this time. New Business Approval of Amended and Restated Revenue Deposit Agreement Mrs. Meyer gave background stating the Amended and Restated Revenue Deposit Agreement has several changes from the original agreement. This agreement accounts for all CRC debt (including the 2016 bonds) payable from TIF. The agreement also states that once the debt obligations are met, $1.4 million is to be deposited in the Supplemental Reserve Fund in 2016 and years 2018-2031 rather than allocating all Parkwood funds to the reserve. The agreement requires the Council and CRC to re-evaluate and renegotiate this annual deposit amount in 2020. The excess TIF attributable to the 2014 PAC Refunding Bonds is no longer required to be deposited into the Supplemental Reserve. Discussion ensued. Mr. Bowers motioned to approve the Amended and Restated Revenue Deposit Agreement. Mr. Dalzell seconded; approved unanimously. Creation of a Technical Review Committee to facilitate the Design-Build process for the Midtown parking garage(s) Mrs. Meyer stated this process is in place to establish The Technical Review Committee ahead of the Midtown project timeline. The Technical Review Committee requires a min. of 3 advisory members. A 5-member committee is suggested, given the public private partnership with Old Town Group. Members to include: (1) City agency representative, (2) CRC representatives, (2) developer representatives (1 of which needs to be a licensed contractor). This committee is required by the Design-Build Statute. The Committee shall facilitate and administer the design- build bidding process as outlined in the Design-Build Statute. Mr. Bowers moved to create a Technical Review Committee with 5 members appointed by the CRC President to facilitate a Design-Build procurement process for the Midtown parking garage(s). Mr. Dalzell seconded and it was approved unanimously. Acceptance of engagement letters from legal firms Mrs. Meyer explained the CRC staff requests the Commission accept the engagement letter from the London Witte Group for their accounting services, stating the accounting group is a trusted and reliable source concerning financial matters. Mr. Dalzell moved to accept and Mr. Bowers seconded. Passed unanimously. Acceptance of Context Design amended contract Mrs. Meyer stated Context Design is the firm the CRC hired to design the Sophia Square courtyard and are currently working on several designs for the Plaza. The CRC staff requests the Commission accept the amended contract, which includes an additional $18,000 to complete a drainage assessment at Sophia Square and $500 for anticipated reimbursable expenses. Mr. CRC Meeting, January 20, 2016 3 Bowers recommended going back to the original developer to renegotiate. Discussion ensued. Mr. Bowers motioned to approve the amended contract with Context Design, subject to negotiations with the developer. Mr. Dalzell seconded and passed unanimously. Other Business None at this time. Adjournment Mr. Dalzell moved the meeting be adjourned pending the execution of documents, seconded by Mr. Bowers. The meeting was adjourned at 7:08 p.m. The next regularly scheduled meeting is Wednesday, February 17, 2016 at 6:30 p.m. An executive session was held prior to the public meeting in which the purchase or lease of real property was discussed. The Commission hereby certifies that no subject matter was discussed in the executive session other than the subject matter specified in the public notice.