HomeMy WebLinkAbout12 December 19 Minutes
CRC Meeting, December 19, 2018
CARMEL REDEVELOPMENT COMMISSION Meeting
Wednesday, December 19, 2018
ATTENDANCE:
President Bill Hammer Present
Vice President Dave Bowers Present
Secretary Bill Brooks Present
Treasurer Christine Pauley Present
Member Adam Campagna Present
Member Jeff Worrell Not Present
Member Michael Kerschner Present
Executive Director Henry Mestetsky Present
Deputy Director Jenell Fairman Present
Finance Manager Michael Lee Present
Office Manager Rachel Finn Present
City Attorney Ashley Ulbricht Present
Legal Counsel Ryan Wilmering Present
President Hammer called the meeting to order at 6:35 p.m.
The Pledge of Allegiance was said.
Annual Report to Taxing Units
H. J. Umbaugh and Associates provided a presentation to the annual overlapping taxing units, as
required by state law.
Director Mestetsky requested to add two additional items to the agenda, Action Items #5 and #6.
President Hammer motioned to amend the Agenda. Mr. Campagna moved to amend, seconded by
Secretary Brooks. Voice vote, Commission approved unanimously.
Approval of Minutes
The November 21, 2018, minutes were presented. Secretary Brooks moved to approve the
minutes. Mr. Campagna seconded.
Vote: Yes No Abstain/Recuse
Bill Hammer X
Dave Bowers X
Bill Brooks X
Adam Campagna X
Jeff Worrell
Financial Matters
th November balance totaled $947,636.00 and,
including the restricted funds, the balance totaled $5,797,494.00.
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 $346,411.
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CRC Meeting, December 19, 2018
Approval of Claims
Mr. Lee requested the Commission to approve the non-operating invoices in the amount of
$12,185,778.23.
Mr. Lee stated that there is a disbursement to be paid out of the Midtown South Bond in the
amount of $85,393.80.
Mr. Lee stated that there is a disbursement to be paid out of the 2016 TIF Bond in the amount of
$8,509.93.
Mr. Lee stated that there is a disbursement to be paid out of the 2016 COIT Bond in the amount
of $69,773.61.
Vice President Bowers moved to approve the claims, seconded by Secretary Brooks.
Vote: Yes No Abstain/Recuse
Bill Hammer X
Dave Bowers X
Bill Brooks X
Adam Campagna X
Jeff Worrell
Approval of Change Orders Action Item #1
None.
Executive Director Reports with Update on Properties
Director Mestetsky requested to amend the agenda, and vote on Action Item #6 first.
a. Action Item #6 Approval of purchase agreement and related documents of 21
N Rangeline Rd.
Director Mestetsky asked that the Commission approve the purchase agreement
of 21 N Rangeline Rd. President Hammer inquired when the CRC anticipates
offering the property after closing approved. Director Mestetsky
responded that nd prior to
st
the end of the year, an RFP to developers is expected 1 quarter of 2019.
President Hammer had an additional question on behalf of Commissioner
Worrell. He asked what the source of funds was for this acquisition. Director
Mestetsky stated that the source of funds would be the 2016 COIT, specifically
allocated for land acquisition. Vice President Bowers asked if there are any
encumbrances and if so what are the terms. Legal Counsel Ryan Wilmering
answered that with the sale, the CRC would take on the PNC lease. PNC has
agreed to continue to pay property taxes, insurance and maintain the property,
triple net without the base rent. They will operate as if they still own the property
until the project starts.
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CRC Meeting, December 19, 2018
Mr. Campagna moved to approve. Vice President Bowers seconded.
Vote: Yes No Abstain/Recuse
Bill Hammer X
Dave Bowers X
Bill Brooks X
Adam Campagna X
Jeff Worrell
Executive Director Mestetsky reported the acquisition of the PNC property. Construction is
happening everywhere along Rangeline Road. The Proscenium site has been doing concrete pours
and the underground parking garage associated with that project is almost halfway complete.
Midtown continues to be built-out, including the luxury apartments by JC Hart. Midtown West
construction is moving at full speed.
Committee Reports
Finance Committee Vice President Bowers stated they did meet, and had a discussion on the
budget. They also had a couple of teleconferences discussing the sale of the Allied Building,
specifically the guarantee of the bond. They have discussed with City Council and have given
approval for the transfer from Ambrose to the buyer. They have provided a letter of acceptance
and are currently waiting on Legal.
Architectural Review Committee none.
Old Business
None.
New Business
a. Action Item #2 Declaratory Resolution 2018-13 re: 106th and Illinois
allocation area.
Director Mestetsky asked that the Commission approve the preliminary
resolution in creating an allocation area for the 106th and Illinois project.
Secretary Brooks moved to approve. Vice President Bowers seconded.
Vote: Yes No Abstain/Recuse
Bill Hammer X
Dave Bowers X
Bill Brooks X
Adam Campagna X
Jeff Worrell
b. Action Item #3 Declaratory Resolution 2018-14 re: South Rangeline allocation
area.
Director Mestetsky asked that the Commission approve the first step in creating
an allocation area for the South Rangeline project. Vice President Bowers asked
if these allocations had been contemplated in the report from Umbaugh.
Executive Director Mestetsky and Umbaugh confirmed that this would be new
potential revenue not contemplated in the Umbaugh projections.
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CRC Meeting, December 19, 2018
Mr. Campagna moved to approve. Secretary Brooks seconded.
Vote: Yes No Abstain/Recuse
Bill Hammer X
Dave Bowers X
Bill Brooks X
Adam Campagna X
Jeff Worrell
c. Action Item #4 Approval of 2019 Budget
Mr. Lee discussed the budget and outlined what the Finance Committee
reviewed.
Mr. Campagna moved to approve. Secretary Brooks seconded.
Vote: Yes No Abstain/Recuse
Bill Hammer X
Dave Bowers X
Bill Brooks X
Adam Campagna X
Jeff Worrell
d. Action Item #5 Approval of closing documents related to private sale of 350
Veterans Way.
Director Mestetsky asked that the Commission approve closing documents
related to private sale of 350 Veterans Way.
Vice President Bowers moved to approve. Secretary Brooks seconded.
Vote: Yes No Abstain/Recuse
Bill Hammer X
Dave Bowers X
Bill Brooks X
Adam Campagna X
Jeff Worrell
Other Business
None.
Adjournment
President Hammer thanked everyone for their hard work over the past year. He also thanked Mr.
Kerschner and Mr. Worrell for their service since they will not be on the CRC Commission in
2019.
Vice President Bowers moved to adjourn, seconded by Secretary Brooks. The Commission
adjourned the meeting at 7:40 p.m.
The next regularly scheduled meeting is Wednesday, January 16, 2019, 6:30 p.m.
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