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HomeMy WebLinkAbout02 February 15 MinutesCRC Meeting, February 15, 2016 1 CARMEL REDEVELOPMENT COMMISSION Meeting Monday, February 15, 2016 ATTENDANCE: President Bill Hammer Present Vice President Dave Bowers Not Present Secretary Henry Mestetsky Present Treasurer Christine Pauley Not Present Member Bill Brooks Not Present Member Member Jeff Worrell Michael Kerschner Present Present Executive Director Corrie Meyer Present Office Manager Michael Lee Present Legal Consultant Bruce Donaldson Present President Bill Hammer called the meeting to order at 8:01 a.m. The Pledge of Allegiance was said. Election of Officers Mr. Hammer opened the floor to nominations for officers. Mr. Worrell nominated Mr. Mestetsky for Secretary; passed unanimously. Public Hearing Mr. Donaldson gave background concerning the lease between the Carmel Redevelopment Commission and the Redevelopment Authority relating to the Midtown bonds. He stated the proposal is to finance two parking garages in a public plaza with a bond that would be payable primarily from the TIF (with several layers of guarantees from developers of the parcels) and ultimately wrapped with a property tax back up. There are no expectations that the property tax back up would be used. This has been done on other financings in order to get the best rate and would follow the Redevelopment Authority lease structure. The public hearing is for the financing lease and, if approved by the CRC, would then go to approval at City Council meeting. Discussion ensued concerning guarantees from developers. Mr. Hammer declared the public hearing open at 8:07 a.m. There was no one from the public present to speak in favor or in opposition of the proposed lease between the CRC and the Redevelopment Authority re: Midtown bonds. The public hearing was closed at 8:07 a.m. Approval of Claims Mr. Lee requested the Commission approve non-operating invoices in the amount of $17,817.79. Mr. Worrell moved to approve, seconded by Mr. Mestetsky. Approved unanimously. New Business Resolution 2016-05 Re: Amended Declaratory Resolution and Development Plan (Midtown Allocation Area) Mr. Donaldson stated this amendment is related to the Midtown project. The proposal is to create a separate allocation area, which is within the Old Towne Economic Development Area, but is not currently a TIF allocation area. Mr. Mestetsky motioned to approve Resolution 2016-05 re: Amendment to the Declaratory Resolution and Development Plan for the Old Towne Economic Development Area. Mr. Worrell seconded and was approved unanimously. CRC Meeting, February 15, 2016 2 Resolution 2016-06 RE: Approval of Form and Execution of Lease with Redevelopment Authority for the Midtown Bonds Mr. Donaldson stated this resolution relates to the public hearing that was conducted earlier in the meeting re: the refinancing of the lease between the CRA and CRC for the two public parking garages in the public plaza. The lease payments are to be made from TIF generated in the Midtown allocation area and other general revenues available. Mr. Hammer noted there will be a property tax SBT back up, however, it is not anticipated the SBT back up will be necessary. Mr. Worrell noted that this is the first step in the process and will be reviewed again for confirmation after the Planning Commission and City Council see the resolution. Mr. Worrell moved to authorize the execution of Resolution 2016-06 and the lease agreement between the City of Carmel Redevelopment Authority and the City of Carmel Redevelopment Commission in the form presented, seconded by Mr. Mestetsky. Approved unanimously. Execution of deed transfer to the City for right of way (Proscenium site) Mrs. Meyer gave background stating the request came from the engineering office to construct the roundabout at Carmel Drive and Range Line Road, next to the Party Time site. The CRC staff is requesting that the CRC board authorize the President of the Commission and Executive Director to execute the necessary documents. Mr. Mestetsky motioned to authorize the Commission President and Executive Director to execute the necessary documents in relation to granting right-of-way at 1212 S. Range Line Road to the City of Carmel. Mr. Worrell seconded and was approved unanimously. Other Business None at this time. Adjournment Mr. Mestetsky moved the meeting be adjourned pending the execution of documents, seconded by Mr. Worrell. The meeting was adjourned at 8:16 a.m. The next regularly scheduled meeting is Wednesday, March 16, 2016 at 6:30 p.m.