HomeMy WebLinkAboutResolution 2018-11 (grant of land for Hotel Carmichael)RESOLUTION NO. 2018-11
A RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION
REGARDING GRANT OF LAND FOR HOTEL CARMICHAEL
WHEREAS, the City of Carmel, Indiana (the "City") is an Indiana municipal
corporation; and
WHEREAS, the City of Carmel Redevelopment Commission (the "CRC") is a
governmental entity created and authorized to administer certain redevelopment activities within
the City; and
WHEREAS, pursuant to Indiana Code 36-7-14-12.2(25), CRC may provide financial
assistance (including grants and loans) to neighborhood development corporations to permit
them to "construct, rehabilitate, or repair commercial property within the district"; and
WHEREAS, Downtown City Center Development Corporation ("DCCDC") is a
nonprofit corporation organized and operating pursuant to the provisions of the Indiana
Nonprofit Act of 1991, as amended, Indiana Code 23-17; and
WHEREAS, DCCDC is a "neighborhood development corporation' for purposes of
Indiana Code 36-7-14-12.2(25); and
WHEREAS, Pedcor Investments, A Limited Liability Company ("Pedcor Investments")
is a limited liability company organized and operating under the laws of the State of Wyoming;
and
WHEREAS, DCCDC and Pedcor Investments and/or one or more of its affiliates intends
to develop the Hotel Carmichael (the "Hotel") on certain real estate located near the northwest
corner of the Carmel City Center south of City Center Drive, east of the Morton Greenway, and
west of South Rangeline Road and commonly known as Parcel 5, which real estate includes,
without limitation, that certain real estate currently known as the Western Motor Court (the
"Hotel Site"), as more particularly set forth and authorized in CRC Resolution No. 2018-08; and
WHEREAS, the CRC owns the three strips of land depicted and/or described on Exhibit
A, attached hereto and incorporated herein by reference (the "CRC Real Estate"); and
WHEREAS, the CRC Real Estate comprises a portion of the Hotel Site; and
WHEREAS, the CRC Real Estate is commercial property within the "district" for
purposes of Indiana Code 37-7-14-12.2(25); and
WHEREAS, DCCDC has determined that it is in the best interest of DCCDC to acquire
the CRC Real Estate for the purposes of developing the Hotel; and
WHEREAS, the CRC has determined that it is now in the best interests of the CRC to
grant to DCCDC the CRC Real Estate for the purpose of developing the Hotel, as authorized by
Indiana Code 36-7-14-12.2 and other applicable law.
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City of Carmel
Redevelopment Commission that:
The foregoing Recitals are fully incorporated herein by this reference.
2. The CRC will grant to DCCDC the CRC Real Estate.
3. The CRC will execute and deliver such other agreements, instruments,
certificates, and other documents, and perform and observe such other actions,
covenants, and obligations, as necessary or desirable in connection with the grant
to DCCDC of the CRC Real Estate.
4. Each agreement, instrument, certificate, and other document contemplated by this
Resolution to be executed and delivered by the CRC shall be in a form approved
by, and satisfactory to, the President and Executive Director of the CRC, with
guidance from the CRC Finance Committee, which approval and satisfaction shall
be conclusively evidenced by the execution and delivery thereof by the President,
Vice President, Secretary, and/or Executive Director of the CRC.
5. The President and Executive Director of the CRC are authorized to execute and
deliver all of the agreements, instruments, certificates, and other documents
contemplated by this Resolution to be executed and delivered by the CRC. In the
absence of the President and/or Executive Director, the Vice President and/or
Secretary of the CRC shall be authorized to execute and deliver all of the
agreements, instruments, certificates, and other documents contemplated by this
Resolution to be executed and delivered by the CRC. The President, Executive
Director, Vice President, and/or Secretary are further authorized take all other
lawful actions necessary in connection with the grant to DCCDC of the CRC Real
Estate and the other matters contemplated by this Resolution.
Adopted this day of JJ C i- , 2018.
CITY OF CARMEL
COMMISSION
President
Vice President
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Member
EXHIBIT A
The CRC Real Estate
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