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HomeMy WebLinkAbout09 September 19 Minutes - Part 2CRC Meeting, September 19, 2017 1 CARMEL REDEVELOPMENT COMMISSION Meeting Tuesday, September 19, 2017 ATTENDANCE: President Bill Hammer Not Present Vice President Dave Bowers Present Secretary Henry Mestetsky Present Treasurer Christine Pauley 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 Not Present Bond Counsel Brad Bingham Present Financial Advisor Andrew Mouser Present Vice President Bowers called the meeting to order at 6:31 p.m. The Pledge of Allegiance was said. Bid Opening – Arts District project Mr. Lee informed the Commission that no bids were received. Bid Opening – Midtown South parking garage office lease Mr. Lee informed the Commission that no bids were received. Mrs. Meyer provided a discussion on the process. Approval of Minutes The August 16, 2017 minutes were presented. Mr. Worrell moved to approve the August 16, 2017 minutes. Mr. Brooks seconded. Approved 4-0. The August 31, 2017 minutes were presented. Mr. Brooks moved to approve the August 31, 2017 minutes. Mr. Mestetsky seconded. Approved 4-0. Financial Matters Mr. Lee stated the Commission’s end of the month August balance totaled $4,601,967.00 and, including the restricted funds, the balance totaled $9,144,877.00. 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 Mr. Lee stated that there are non-operating invoices in the amount of $921,532.15. Mr. Lee requested the Commission to approve the non-operation invoices in the amount of $921,532.15. CRC Meeting, September 19, 2017 2 Mr. Lee stated that there are disbursements from the City Center Phase II Bond fund in the amount of $481,413.40. Mr. Lee stated that there is a disbursement to be paid out of the Midtown Phase 1A Bond fund in the amount of $238,524.66. Mr. Lee stated that there is a disbursement to be paid out of the Midtown South Bond in the amount of $397,056.89. Mr. Lee stated that there is a disbursement to be paid out of the 2016 TIF Bond in the amount of $565,688.00. Mr. Lee stated that there is a disbursement to be paid out of the 2016 COIT Bond in the amount of $692,312.49. Mr. Lee stated that there is a disbursement to be paid out of the Monon and Main Claims in the amount of $152,899.09. Mr. Worrell moved to approve the claims, seconded by Mr. Brooks. Approved 4-0. Executive Director Reports with Update on Properties Mrs. Meyer stated that the Veterans Way (Park East) Garage is complete and open for the public. The Midtown North and South garages are proceeding. Monon and Main is going up quickly. The Monon Boulevard/Trail project is proceeding after the project was awarded. Mrs. Meyer provided an overview of the trail expansion. The Proscenium project is gearing up with the Duke Utility relocation moving forward. Finally, Mrs. Meyer gave an overview of the hotel project. Mr. Bowers noted that there is a lot of due diligence ongoing. Committee Reports The Finance Committee did meet in September. Mr. Bowers informed the Commission that the committee reviewed the finances of the hotel project. The Architectural Review Committee did meet in September. Mr. Worrell informed the Commission that the committee interviewed the various developers interested in developing the Firehouse site. Mrs. Meyer notes that there Approval of Change Order – Action Item #1 Mr. Lee presented change orders related to Midtown South Garage and Palladium buildout for $120,551.51. Mr. Worrell asked that there be an update on who is responsible for the missed door. Mr. Mestetsky motioned to approve, seconded by Mr. Worrell. Approved 4-0. Approval of Change Order – Action Item #3 Mr. Frischkorn presented a change order related to the Center Green Ice Rink Project for $31,205.00. Mr. Mestetsky moved to add the Change Order #2 to the agenda. Mr. Worrell seconded the motion. Approved 4-0. Mr. Worrell had a number of questions regarding the change orders. Mr. Mestetsky asked how the change order would impact the contract. Mr. Lee explained the process. Mr. Lee will work CRC Meeting, September 19, 2017 3 with the finance committee to finalize the sources for payment. Mr. Worrell moves to approve. Mr. Mestetsky seconded. Approved 4-0. Old Business There was no old business. New Business Action Item #2: Resolution 2017-14 Re: 2010 COIT Refunding Mr. Bingham stated that this would allow the Redevelopment Authority to refund the 2010 COIT Bonds. One purpose for the refunding is to lock in better rates. Mr. Mouser noted that the refunding was done to lock in savings. Mr. Mestetsky moved to approve. Mr. Worrell seconded. Approved 4-0. Other Business None Adjournment Mr. Mestetsky moved the meeting be adjourned subject to the execution of documents, seconded by Mr. Brooks. The meeting was adjourned at 7:21 p.m. The next regularly scheduled meeting is Wednesday, October 18, 2017 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.