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HomeMy WebLinkAbout07 July 19 Minutes - Regular mtgCRC Meeting, July 19, 2017 1 CARMEL REDEVELOPMENT COMMISSION Meeting Wednesday, July 19, 2017 ATTENDANCE: President Bill Hammer Present Vice President Dave Bowers Present Secretary Henry Mestetsky Present Treasurer Christine Pauley Not Present Member Bill Brooks Present Member Jeff Worrell Present Member Michael Kerschner Present Executive Director Corrie Meyer Present Deputy Director Michael Frischkorn Present Office Manager Michael Lee Present City Attorney Ashley Ulbricht Not Present Legal Consultant Karl Haas Present Bond Counsel Bruce Donaldson Present President Bowers called the meeting to order at 6:42 p.m. The Pledge of Allegiance was said. Mr. Donaldson asked the Commission to amend the agenda to add Public Hearings on Resolution 2017-10 and Resolution 2017-11. Mr. Mestetsky made a Motion to add Public Hearings for Resolution 2017-10 and Resolution 2017-11 to the agenda. Mr. Bowers seconded the motion. Approved 5-0. Approval of Minutes The June 29, 2017 minutes were presented. Mr. Mestetsky moved to approve the June 29, 2017 minutes. Mr. Brooks seconded. Approved 5-0. Public Hearing #1 Mr. Donaldson presented an overview of the Form of Lease for the 2017 LIT Bonds that is the subject of the public hearing. Mr. Hammer opened the public hearing at 6:45 p.m. No one spoke for or against. Mr. Hammer closed the public hearing at 6:45 p.m. Public Hearing #2 Mr. Donaldson presented an overview of the Form of Lease for the 2017 TIF Bonds that is the subject of the public hearing. Mr. Hammer opened the public hearing at 6:47 p.m. No one spoke for or against. Mr. Hammer closed the public hearing at 6:47 p.m. Financial Matters Mr. Lee stated the Commission’s end of the month June balance totaled $4,785,610.00 and, including the restricted funds, the balance totaled $9,328,519.00. Update on Outstanding Receivables Mr. Lee stated there are two outstanding receivables: 1) Project Blue invoices of $15,643 2) Initial Energy Consumption Fee for The Mezz of $173,205 Approval of Claims CRC Meeting, July 19, 2017 2 Mr. Lee stated that there are non-operating invoices in the amount of $62,430.48. Mr. Lee requested the Commission to approve the non-operation invoices in the amount of $62,430.48. Mr. Worrell moved to approve, seconded by Mr. Brooks. Approved 5-0. Mr. Lee stated that there are disbursements from the City Center Phase II Bond fund in the amount of $220,263.94. Mr. Brooks moved to approve, seconded by Mr. Bowers. Approved 5-0. Mr. Lee stated that there is a disbursement to be paid out of the Midtown Phase 1A Bond fund in the amount of $895,378.90. Mr. Brooks moved to approve, seconded by Mr. Bowers. Approved 5-0. Mr. Lee stated that there is a disbursement to be paid out of the 2016 COIT Bond in the amount of $137,377.62. Mr. Bowers moved to approve, seconded by Mr. Worrell. Approved 5-0. Executive Director Reports with Update on Properties Mrs. Meyer stated that there are many projects starting up and also in construction. The Park East Garage is complete and will be open for the public in September. The Midtown North garage will be complete by September 1st. The Commission received its June TIF receipts which were above the budgeted amount. The groundbreaking for the Proscenium will occur soon. Mr. Bowers asked about the Sun King project. Mrs. Meyer described the construction process that will be starting in the next month. Mr. Worrell asked about the future of the former Woods Wire parcel. Mrs. Meyer stated that this will be redeveloped but it will take time. Committee Reports The Finance Committee met on July 14, 2017. Mr Bowers stated that, during the meeting, the committee discussed the mid-year budget revisions and the five year budget projections. Also, the committee discussed the streamlining of presentation of claims. Mr. Lee stated that he would present all claims at once and have one vote instead of voting on each claim. The Architectural Review Committee did not meet in July. Old Business There was no old business. New Business Action Item #1: Resolution 2017-10 re: approval of Form of Lease for the 2017 LIT Bonds Mr. Donaldson stated that this will approve the Form of Lease for the 2017 LIT Bonds. Mr. Mestetsky moved to approve. Mr. Brooks seconded. Approved 5-0. Action Item #2: Resolution 2017-11 re: approval of Form of Lease for the 2017 TIF Bonds Mr. Donaldson stated that this will approve the Form of Lease for the 2017 TIF Bonds. Mrs. Matthes with Umbaugh reviewed the financials surrounding the TIF. Mr. Bowers asked about a revenue amendment to the Deposit Agreement. Mr. Donaldson noted that it is only an amendment as to the projects to be added. Mr. Mestetsky moved to approve. Mr. Bowers seconded. Approved 5-0. Action Item #3: Authorization to issue an RFP for Midtown South garage office space lease CRC Meeting, July 19, 2017 3 Mrs. Meyer stated that this will allow the issuance of an RFP to lease Midtown South garage office space. Mr. Brooks moved to approve. Mr. Bowers seconded. Approved 5-0. Action Item #4: Acceptance of Alternate 1 for the Midtown South garage Mrs. Meyer stated this would approve the Midtown South garage scope for the contract currently held with Garmong for the Midtown North garage. Mr. Lee noted that the change orders under Action Item #9 are included under this Alternate. Mrs. Meyer went through the change orders and noted that they included bike parking in the garage, office space in the garage, and finishing the drainage improvements on the site. Mr. Bowers moved to approve. Mr. Worrell seconded. Approved 5-0. Action Item #5: Approval of amendment to CEC contract for additional surveying Mrs. Meyer stated this will amend CEC’s contract with the CRC in regards to the Midtown South parking garage to include an additional ALTA survey. Mr. Bowers moved to approve. Mr. Mestetsky seconded. Approved 5-0. Action Item #6: Acceptance of Center Green Improvements bid Mrs. Meyer stated the recommendation of staff regarding the Center Green improvements bid. Brandt Corp. was the low bid and staff recommends acceptance of the bid contingent on the submittal and approval of a contract and the review and approval of subcontractors. Mr. Worrell moved to approve. Mr. Brooks seconded. Approved 5-0. Action Item #7: Approval to issue RFP for Monon and Main office condos Mrs. Meyer stated that this will allow the issuance of an RFP to lease or sell office condos located adjacent to the Monon and Main parking garage. Mr. Brooks moved to approve. Mr. Mestetsky seconded. Approved 5-0. Action Item #8: Approve Revised 2017 Budget Mr. Lee reviewed the line items of the budget that have been proposed for revision. Mr. Lee noted that this revised budget reflects current and forecasted revenues and expenditures. Mr. Brooks moved to approve. Mr. Bowers seconded. Approved 5-0. Action Item #9: Change order for Midtown South drainage This action item was removed from the agenda since it was covered and approved as part of action item #4. Other Business None Adjournment Mr. Mestetsky moved the meeting be adjourned subject to the execution of documents, seconded by Mr. Bowers. The meeting was adjourned at 7:30 p.m. The next regularly scheduled meeting is Wednesday, August 16, 2017 at 6:30 p.m. CRC Meeting, July 19, 2017 4 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.