D-2389-17 Interlocal Agreement with Hamilton County/Lowes WaySPONSOR(S): Councilor Sue Finkam
Councilor Bruce Kimball
ORDINANCE NO. D-2389-17
AN ORDINANCE OF THE COMMON COUNCIL OF THE
CITY OF CARMEL, INDIANA, AUTHORIZING THE
ISSUANCE OF BONDS BY THE HAMILTON COUNTY
REDEVELOPMENT COMMISSION PURSUANT TO IC 36-7-
14-3.5
Synopsis: This Ordinance approves and adopts an interlocal agreement entered into by and between the City of
Carmel, Indiana ("Carmel') and Hamilton County, Indiana concerning the construction, financing, and maintenance
of a road project to extend Lowes Way from 1461 Street, south and west, to Rangeline Road, including a south-
bound on-ramp onto Keystone Parkway.
WHEREAS, the Hamilton County ("County") Redevelopment Commission
("Commission") has adopted a bond resolution ("Bond Resolution") authorizing the issuance of
its Redevelopment District Local Income Tax Revenue Bonds of 2018 ("Bonds") in an aggregate
principal amount not to exceed Ten Million Five Hundred Thousand Dollars ($10,500,000)
payable from Tax Increment (as defined in the Bond Resolution) and, to the extent Tax
Increment is not sufficient, from the County's Certified Shares (as defined in the Bond
Resolution), for the purpose of paying the costs of construction of road improvements in, serving
or benefitting the U.S. 31 Ramps Economic Development Area ("Project");
WHEREAS, IC 36-7-14-3.5 requires City of Carmel ("City") Common Council approval
for the issuance of bonds by the Hamilton County Redevelopment Commission payable from
Tax Increment;
WHEREAS, there has been presented to this meeting a substantially final form of
interlocal agreement attached hereto and incorporated herein on Exhibit A between the County,
the Commission and the City with respect to the Project ("Interlocal Agreement);
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE
CITY OF CARMEL, INDIANA, THAT:
Section 1. The Common Council hereby approves the issuance of the Bonds by the
Commission payable from Tax Increment collected from the U.S. 31 Ramps Economic
Development Area for the purpose of the payment of the costs of construction of the Project and
costs of issuance related thereto.
Ordinance D-2389-7
Page One of Two Pages
This Ordinance was prepared by Michael A. Howard, Hamilton County Attorney, on 10/05/17 at 2:47 p.m.
1112398837.1
Section 2. The City hereby approves the Interlocal Agreement and authorizes the
execution of the Interlocal Agreement with such changes as the City's Corporation Counsel
determines is necessary or appropriate to consummate the transactions contemplated by this
Ordinance.
Section 3. This ordinance shall be in full force and effect from and after its passage
and execution by the Mayor.
Passed by the Common Council of the City of Carmel, Indiana, this IOday of
October, 2017, by a vote of ayes and - nays.
aura Campbell
Ronald E. Carter
TT
r
Christine Pauley, lerk-Treasurer he City
of Carmel, Indiana
Presented me to the Mayor of the City of C el a thi4E., o October,
2017, attine Paule K Curer
/�7%
Approved by me, the Mayor of the City of Carmel, Indiana, this LL day of October,
2017, tc> ..M.
L
'James Brainard, Mayor
ATT
SCh Astine Paule , Clerk -Treasurer
Ordinance D-2389-7
Page Two of Two Pages
This Ordinance was prepared by Michael A. Howard, Hamilton County Attorney, on 10/05/17 at 2:47 p.m.
-2-
I\12398837.1
INTERLOCAL AGREEMENT BETWEEN THE CITY OF CARMEL
AND HAMILTON COUNTY, INDIANA, CONCERNING
CONSTRUCTION OF ROAD PROJECTS
(LOWES WAY)
This Interlocal Agreement entered into on the dates set out below by and between the
Board of Commissioners of Hamilton County ("the County"); the Hamilton County Council
("the Council"); the Hamilton County Redevelopment Commission ("the Commission"); and the
Common Council of City of Carmel (acting on behalf of the City of Carmel) ("the City").
WITNESS THAT:
WHEREAS, the County and the Hamilton County Highway Department have designed
the extension of Lowes Way from the present signalized intersection on Lowes Way and 146 1h
Street, south and east to Rangeline Road, and an on-ramp from the Lowes Way extension to
southbound Keystone Parkway, as shown on the attached Exhibit A and as more particularly
described in Exhibit B ("the Project"); and,
WHEREAS, the Project is located within the City; and,
WHEREAS, it is anticipated that the Project will be constructed in two (2) phases, which
phases are shown on Exhibit A and described in Exhibit B ("Phase I and Phase IF'); and,
WHEREAS, the anticipated budget of the remaining costs of the Project, is shown on
Exhibit C; and,
WHEREAS, the County has received a commitment for Federal CMAQ Funding for
Phase I in the amount of Four Million Eight Hundred Eighty-nine Thousand Two Hundred
Dollars ($4,889,200) to be used toward part of the costs of Phase I of the Project, presently
scheduled for bid in February of 2018; and,
WHEREAS, the County has received a commitment of CMQA Funding of Four Million
Five Hundred Ninety Thousand Dollars ($4,590,000) toward funding for Phase II, which is
anticipated to be bid in 2021; and,
WHEREAS, the County has paid, or appropriated, the costs of design and permitting for
the Project and right of way acquisition for Phase I; and,
WHEREAS, on June 2, 2000, the Commission adopted a Preliminary Resolution creating
the US31 Ramps Economic Development Area ("the Ramps Economic Development Area", or
"the Area"); and
WHEREAS, since the creation of the Ramps Economic Development Area, the County
has issued two (2) series of bonds. The first series funded the construction of a road and bridge
to convey northbound Keystone Parkway traffic to 146th Street, which is now known as "Lowes
Way", which bonds have been refunded and are now outstanding as the 2010 Refunding Bonds
Series A, ("the Series A Bonds"); and,
WHEREAS, since the creation of the Economic Development Area, the County has
issued a second series of bonds. The second series funded the construction of Clay Terrace
Boulevard through the Clay Terrace Shopping Center, which bonds have been refunded and are
now outstanding as the 2010 Refunding Bonds Series B ("the Series B Bonds"); and,
WHEREAS, the City annexed the Ramps Economic Development Area subsequent to the
creation of the Area and the last year for collection of tax increment from the Area is 2030; and,
2
WHEREAS, HJ Umbaugh, as financial advisors to the Commission has prepared a
schedule showing: 1) the remaining payments due on the Series A Bonds; 2) the remaining
payments due on the Series B Bonds; 3) the anticipated payments on the 2018 Bonds to be issued
pursuant to this Agreement; 4) the combined payments; 5) the anticipated tax increment to be
collected from the Area through 2030; and 6) the total annual payment of debt service from the
tax increment collected from the Area, which schedule is attached as Exhibit D; and,
WHEREAS, the parties anticipate paying substantially all of the local share of the costs
of both Phases of the Project from bonds to be issued by the Commission and paid from tax
increment collect from the Ramps Economic Development Area, which Area is shown in red on
Exhibit E; and,
WHEREAS, prior to moving forward with the Project, it is necessary for the City and the
County to enter into an Interlocal Agreement pursuant to Indiana Code 36-1-7, to designate the
rights and duties of the parties for the design, permitting, construction, maintenance and
financing of the Project.
IT IS THEREBY AGREED by and between the County and the City as follows:
1. This Agreement shall be construed as an Interlocal Agreement pursuant to Indiana
Code 36-1-7.
2. Phase I of the Project is shown in orange on Exhibit A and includes the following:
a. The redesign of the turn lanes of 146' Street at Lowes Way;
b. The construction of a new round -a -bout at Lowes Way at the existing
signalized entrance to Greyhound Commons;
c. The construction of a new bridge over Cool Creek and the Hagan -Burke Trail
adjacent to the existing Lowes Way, to connect to the new bridge over
Keystone Parkway.
d. The construction of a new bridge over northbound and southbound Keystone
Parkway to the intersection of a new southbound on-ramp from the new
Lowes Way to Keystone Parkway, as shown on Exhibit A.
e. A new on-ramp onto Keystone Parkway from the southern terminus of the
Phase I section of Lowes Way.
f. A multi -use path along the east side of Lowes Way as shown in yellow on
Exhibit F to connect to the existing Hagen -Burke trail of the City, which is
shown in red on Exhibit F.
g. A multi -use path on the east and north side of Lowes Way from 146th Street to
the south end of Phase I of the Lowes Way extension.
3. Phase II of the Project is shown in red on Exhibit A and includes the following:
a. The extension of Lowes Way from the intersection of the southbound ramp
onto Keystone Parkway, southwesterly to connect to Rangeline Road.
b. A bridge over Cool Creek.
c. A multi -use path on the north side of Lowes Way along the portion of Lowes
Way included in Phase II as shown in yellow on Exhibit F.
4. The bridges along Phase I shall have width of thirty-six (36) feet from the face of
guardrail to face of guardrail. The bridges and the extension of Lowes Way in Phase I shall be
constructed to accommodate two (2) lane traffic, even though Phase I will only be used for
southbound, one-way traffic onto Keystone Parkway until the completion of Phase II. After
Phase II connects to Rangeline Road, the County will re -stripe and make other changes to Lowes
Way to accommodate two-way traffic.
4
S. The remaining preliminary budget for the costs of Phase I and Phase II, which have
not been funded by the County prior to the date of this Agreement are shown on Exhibit C.
6. The County has received a commitment of Four Million Eight Hundred Eighty-nine
Thousand Two Hundred Dollars ($4,889,200) of CMAQ funds and shall pay part of costs of
construction and construction inspection for Phase I.
7. The County has received a commitment of Four Million Eight Hundred Eighty-nine
Thousand Two Hundred Dollars ($4,889,200) of CMAQ funds and to pay toward the costs of
right of way, construction and construction inspection for Phase I.
8. The County shall pay the costs to design and permit all of Phase II from funds already
appropriated. The City shall pay all costs of the round -a -bout intersection of Rangeline Road
and Lowes Way.
9. The County, acting through its Highway Department, and the City, acting through its
Engineering Department, shall meet periodically, to discuss the progress of the Project, but at a
minimum once every ninety (90) days. The City Engineering Department shall be provided
copies of plans for all stages of the Project. Any changes in the plans which result in a
substantial increase in the costs of the Project shall be approved by both the Board of
Commissioners and the Mayor of the City.
10. The County, as the Grantee of the CMAQ funds, shall be responsible for compliance
with the terms of the each grant.
11. The County, acting through the Commission, and with the City's approval as set out
in Section 14 below, shall issue its Tax Increment Revenue Bonds of 2018 ("the 2018 Bonds") to
fund all, or substantially all, of the local share of the Project. The primary source of payment in
5
the 2018 Bonds shall be paid from tax increment generated fiom the US 31 Ramps Economic
Development Area established by the Hamilton County Redevelopment Authority in 2000. The
anticipated amount of those payments are shown as payments for the "2018 Bonds" in column 3
of Exhibit D.
12. The amount of the 2018 Bonds shall be in an amount not to exceed Ten Million Five
Hundred Thousand Dollars ($10,500,000) and shall be paid primarily from tax increment
collected from the Ramps Economic Development Area through tax collection year 2030, as
shown on Exhibit D.
13. The County Council agrees to approve an Ordinance pledging the County's
distributive share of local income tax as a backup guarantee for payment of the 2018 Bonds.
14. The Carmel Common Council, as the legislative body of the City, pursuant to the
Ordinance approving this Interlocal Agreement, approves the issuance of bonds by the
Commission as described in Section 11-13 above and approves the use of the allocated real
property tax proceeds collected from the Ramps Economic Development Area through 2030, to
be used to pay principal and interest on the 2018 Bonds.
15. Any costs of the Project described in Exhibit C, which are in excess of the amount of
the CMAQ Grants and the proceeds of the 2018 Bonds shall be equally divided between the
County and the City.
16. Both the City and the County agree that each unit shall permit the other unit and its
contactors to use the right of way of the other unit to design and construct the Project pursuant to
this Agreement and shall expeditiously approve all permits necessary to construct the Project.
C.
17. Upon completion of all or part of the Project, the County shall accept and maintain
the section of Lowes Way south of 146th Street to, and including the round-a-bout at the entrance
of Greyhound Commons. The County shall inventory and maintain the structural components of
the bridges which are to be constructed as part of the Project. Those bridges shall be designated
as Bridge 153N, 153S, 604, and 602 on the attached Exhibit G. The City will provide roadway
maintenance for all of Lowes Way south of the round-a-bout at Greyhound Commons. Each
unit will receive all State and Federal funds available for maintenance of the portion of the
Project maintained by the unit, including Local Road and Street, Motor Vehicle Highway, and
Bridge Maintenance funds. The maintenance responsibilities described above are shown on
Exhibit G.
18. In the event there is dispute between the parties concerning any terms of this
Agreement, the dispute shall be initially discussed by the Director of the Hamilton County
Highway Department and the City Engineer of Carmel or their designees. If there is no
resolution of the issue at the staff level described above, the dispute shall be submitted to a four
(4) person Dispute Committee to include: the Mayor of the City or his designee; a member of the
City Council, appointed by the Council; a member of Board of Commissioners of Hamilton
County and a member of the Hamilton County Council; the Director of the Hamilton County
Highway Department and the City Engineer of Carmel shall serve on the committee as non-
voting members. The meeting of the Dispute Committee shall be considered discussions to
resolve potential litigation and, therefore, held in a noticed executive session.
19. In the event the dispute is not resolved by the Dispute Committee, the parties agree to
submit the dispute to mediation pursuant to the Indiana Rules of Alternative Dispute Resolution
7
prior to the initiation of litigation. In the even the parties are unable to agree upon a mediator for
such dispute, the parties agree to alternately strike from a panel of mediators appointed by the
Judge of the Circuit Court of Hamilton County.
20. This Agreement shall be recorded by Hamilton County and a recorded copy shall be
delivered to the Clerk -Treasurer of the City and to the Hamilton County Auditor.
ALL OF WHICH IS AGREED by the Board of Commissioners of Hamilton County on
this day of October, 2017.
BOARD OF COMMISSIONERS
OF HAMILTON COUNTY
Christine Altman
Steven C. Dillinger
Mark E. Heirbrandt
ATTEST:
Robin Mills, Auditor
ALL OF WHICH IS AGREED BY the Hamilton County Council on this day of
November, 2017.
ATTEST:
Robin Mills, Auditor
4
HAMILTON COUNTY COUNCIL
Fred Glynn
Amy Massillamany
Steve Schwartz
Paul Ayers
Brad Beaver
Jeff Hem
Rick McKinney
ALL OF WHICH IS AGREED BY the Hamilton County Redevelopment Commission on
this 6h day of October, 2017.
ATTEST:
Brad Beaver, Secretary
10
HAMILTON COUNTY
REDEVELOPMENT COMMISSION
William G. Crandall
Scott Baldwin
Robert Beaudry
R. Daniel Stevens
t*
fi a%"
GRED by the Common Council of the City of Carmel, Indiana, this �t*--,day of
-2017, by a vote of ayes and _nays.
COMMON COUNCIL FOR T]
Kevin D. Rider, Vice President
of Carmel, Indiana
City
Bruce Kimball
Je e
Presented by me to the Mayor of the City of C
iana this -��� udy�o
2017, at 3CJ.M.
1
Christine Pauley, Clerk -Treasurer
Approved b me, the Mayor of the City of Carmel Indiana, this day of &h�,
2017, M.
J es Brainard, Mayor
A ST,�
i
Christine Pauley, Clerk-Treas r
1, affirm, under the penalties of perjury, that I have taken reasonable care to redact each social security number in the document, unless required by
law. Michael A Howard
This instrument prepared by Michael A. Howard, Noblesville City Attorney, 694 Logan Street, Noblesville, Indiana 46060, 773-4212.
11
New Ramp Between Rangeline Rd. / Keystone parkway / 146th St.
Clay
Terrace
31
Public
Storage
146th St. 11
Lowes J
END NEW --'
CONSTRUCTION
(1800' / .34mi.)
Lowes Way to
Keystone Ramp
t2
S
NEW
PHASE 1
CONSTRUCTION
EXISTING
RAMP
TO 146TH
PROPOSED
RAW (1400'/.27 mi.)
Ramp from \
CONSTRUCTION Lowes Way to Keystone
(1100'/.21 mi.) \•
= BEGIN NEW
rn CONSTRUCTION
c
m
o:
EXHIBIT A
Phase I of the Lowe's Way project will provide access to southbound Keystone Parkway from 146th
Street via Lowe's Way. The roadway will be elevated and mechanically stabilized earth (MSE) walls will
be utilized to support the road sections. Two bridges, one carrying Lowe's Way over Cool Creek and one
carrying Lowe's Way over Keystone, along with a roundabout at the Lowe's entrance are also proposed
as part of Phase I. The typical section along Lowe's Way will consist of two 12' lanes with a 10' shoulder
on the east side and a curb and gutter section with an 8' multi use path on the west side. The
southbound ramp onto Keystone parkway will consist of a 16' lane with a 6' west shoulder and a 10'
east shoulder. The single lane roundabout at the entrance to Lowe's will incorporate pedestrian
crossings on the west wide and a continuous multi -use path on the east side. The existing 6'-0"
sidewalks along both sides of Lowe's Way from 146th Street to the Lowe's entrance will be upgraded to
10'-0" multi -use paths. The east path will extend from 146th Street to 800' south of Danbury Drive
where it will diverge from Lowe's Way and connect to the Hagan Burke Trail. The west path will extend
from 146th Street to the southbound ramp to Keystone Parkway. The proposed bridge over Cool Creek
is a 5 -span continuous, composite, prestressed concrete box beam bridge with a 46'-10" out -to -out
coping width. The proposed bridge over Keystone Parkway is a continuous, composite, prestresses
concrete hybrid bulb -tee beam bridge with a 59'-0" out -to -out coping width. A lane connection
between the 136th Street on ramp and the 146th off ramp will be reconstructed to provide a continuous
lane between the ramps. Lane markings and curb reconstruction along 146th Street will extend
approximately 500' east of the Lowe's Way intersection.
Phase II of the Lowe's Way project will extend Lowe's Way from the southbound Keystone Parkway
ramp to Rangeline Road. One bridge carrying Lowe's Way over Cool Creek is proposed as a part of
Phase II. The typical section of the roadway will be similar to Phase I and will also utilize MSE walls to
reduce the footprint of the project. The 10' multi -use path on the east side of Lowe's Way will be
extended to Rangeline Road.
EXHIBIT B
SOURCE AND USE OF FUNDS
Keystone—Lowes Way Project
Remaining Phase I Costs
Construction
Construction Inspection
Land Acquisition
TOTAL Project Costs
12,800,000
1,600,000
1,010,000
15,410,000
Source of Funds
Federal Funding
4,889,200
Cash in TIF (10/16)
1,550,000
Fall 2016 TIF
400,000
Available Funds
6,839,200
Bond Proceeds PHASE I
Remaining Phase II costs
Construction 5,100,000
Construction Inspection (Gross) 637,500
Right of Way Acquisition 640,000
TOTAL Costs 6,377,500
Source of Funds
15,410,000
1 6,839,200
8,570,800
6,377,500
Federal Funding 4,080,000
Inspection Reimbursement
(Federal Aid) 510,000
TOTAL Sources 4,590,000 ( 4,590,000)
Bond Proceeds PHASE II 1.787.500
Total Bond Proceeds Necessary to Fund Phase I and Phase II
PHASE I 8,570,800
PHASE II 1,787,500
TOTAL Bond Proceeds Needed 10,358,300
EXHIBIT C
HAMILTON COUNTY (INDIANA) REDEVELOPMENT COMMISSION
Max with 125% Coverage
US 31 Ramps RDA
SCHEDULE OF TAX INCREMENT AVAILABLE FOR DEBT SERVICE ON THE
2010 REFUNDING BONDS, SERIES A & B
(1) Seepage 7.
(2) Seepage 8.
(3) See page 2.
(4) Seepage 9.
EXHIBIT D
Debt Service
Year
2010 Series A
2010 Series B
2018
Pavable
Ref Bonds
Ref Bonds
Bonds
Combined
Tax Increment
Coverage
(I)
(2)
(3)
(4)
2018
$311,015
$586,660
$443,865
$1,341,540
$1,788,830
133%
2019
312,751
586,619
532,519
1,431,889
1,788,830
125%
2020
313,695
588,418
533,769
1,435,881
1,788,830
125%
2021
313,881
585,494
534,388
1,433,763
1,788,830
125%
2022
313,280
582,235
534,448
1,429,963
1,788,830
125%
2023
582,755
847,160
1,429,915
1,788,830
125%
2024
581,575
848,585
1,430,160
1,788,830
125%
2025
1,434,760
1,434,760
1,788, 830
125%
2026
1,432,016
1,432,016
1,788.830
125%
2027
1,435,904
1,435,904
1,788,830
125%
2028
1,436,545
1,436,545
1,788,830
125%
2029
1,434,971
1,434,971
1,788, 830
125%
2030
1,435,350
1,435,350
1,788,830
125%
Totals
$1,564,623
$-4,,093,755 -
$12,884,279
$18,542,656
$23,254,790
(1) Seepage 7.
(2) Seepage 8.
(3) See page 2.
(4) Seepage 9.
EXHIBIT D
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146th St. Bridge over
k. • ,. 4' Hamilton Co. will assume
r r , non-struchuai maintenance r
ftffie -
lNDOTswtlf assume all
-'� r bridge and sidewalk 4
0('� � 'structural maintenance g . r
on thel ,St. Bridge
over US31
.. Y
14t Vit,
6t1,S
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146th St. Bridge over 31 (Lighting) Lowes Lowes Way
Carmel will own & maintain all lighting on 5 Hamilton Co. will assume
the north side of bridge (7 lights) maintenance on Lowes Way
from 146th St, to the newly
Westfield to own &maintain lighting on constructed roundabout at the
the south side of bridge (6 lights) f! entrance to Lowes
AIR
.de
r � �
Bridges 153 N& 1.535
4.6�,.
Lowes Way
Carmel will assume roadway
�`.
' � { maintenance on Lowes Way
tYfrom the new roundabout at the
3900' our h of ut'�S� Lowes entrance to Rangeline Rd.
as well as the ramps to and from
Lowes Way ANOWne P
r �
„ Bridge 604
•
V,r• �' an main t f
_.
F � Bodge 602 �
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