HomeMy WebLinkAboutCommitments_Draft 12-17-19 COMMITMENTS CONCERNING THE USE
AND DEVELOPMENT OF REAL ESTATE
, an Indiana limited liability company (collectively, "Owner"),
owns those certain parcels of real estate identified by Hamilton County, Indiana Auditor's Office
as Tax Parcel Identification Numbers 17-09-24-00-05-004.000, 17-09-24-00-00-030.000, 17-09-
24-04-08-001.000, 17-09-24-00-00-031.001, 17-09-24-00-00-031.201, 17-09-24-04-07-001.000,
17-09-24-00-00-032.000, 17-09-24-00-00-034.000, 17-09-24-00-00-043.000, 17-09-24-00-00-
035.000, 17-09-24-00-00-036.000, 17-09-24-00-00-037.000, 17-09-24-00-00-038.000, 17-09-24-
00-00-042.001, 17-09-24-00-00-041.000, 17-09-24-00-00-039.000, 17-09-24-00-00-033.000, 17-
09-24-00-00-033.001, 17-09-24-00-06-011.000, 17-09-24-00-06-001.000, 17-09-24-00-06-
003.000, 17-09-24-00-06-005.000, 17-09-24-00-06-007.000, 17-09-24-00-06-009.000, 17-09-24-
00-06-010.000, 17-09-24-00-06-002.000, 17-09-24-00-06-004.000, 17-09-24-00-06-006.000, 17-
09-24-00-06-008.000 (collectively, the "Real Estate"). The Real Estate is the subject of a
secondary plat application before the City of Carmel's Plan Commission identified as Docket No.
(the "Application") seeking approval pertaining to the development of North
End, a 27.84 acre mixed use development that is expected to include apartments, townhomes,
condominiums, single family homes,urban garden space and other neighborhood amenities,retail
space, and office space.
Owner, and its successors, assigns, grantees and successors in title to the Real Estate,
hereby make the commitments identified in Section 2 hereof(collectively, the "Commitments")
with respect to the development of the Real Estate to the City of Carmel's Plan Commission("Plan
Commission").
Section 1. Cross Reference. These Commitments pertain to the Real Estate and are made
in connection with the Application for the mixed-use development commonly referred to as North
End.
Section 2. Commitments. Owner, and its successors, assigns, grantees and successors in
title to the Real Estate, hereby make the following commitments concerning the Real Estate:
A. Any single-family homes or townhomes that are adjacent to Smokey Row Road,will
each have front elevations facing Smokey Row Road.
B. Owner will attempt to preserve the historic home located at 416 W Smokey Row Road
to the extent practicable in Owner's commercially reasonable discretion, and its
primary use will be as an amenity designed to enhance the cultural experience of
residents and guests of the Real Estate. Uses of such historic home may include,
without limitation, a restaurant, community gathering and/or event space, offices that
serve the needs of the community, or other uses compatible with Owner's
programming objectives for the Real Estate.
C. Any commercial buildings constructed along Smokey Row Road and that are located
immediately north of the Kensington Place neighborhood ("Kensington") will not be
more than three commercial stories in height.
" y,\ " D. Any commercial building signage to be constructed along Smokey Row Road
frontage, including an)Mieon and/or cabinet signs designed to illuminate translucent
'\ panels, will be installed in a manner that attempts to minimize the impact on the
residents of Kensington.
E. Owner will use commercially reasonable efforts to work in conjunction with the
Department of Community Services for the City of Carmel ("DOCS") to obtain the
consent of the Indiana Department of Transportation("INDOT") to install additional
landscaping in the greenspace buffers along U.S. 31, such landscaping to be
determined by Owner in its commercially reasonable discretion.
F. Prior to the commencement of Owner's reconstruction of the public right-of-way
commonly known as Rohrer Road that currently bisects the Real Estate, DOCS will
seek to obtain the consent of INDOT for Owner to construct a ten-foot wide pathway
along the entirety of the Real Estate on the north side of Rohrer Road and along U.S.
31 (the "North Pathway"). If DOCS is successful in obtaining INDOT's consent for
Owner to construct the North Pathway within the time period provided above, then
Owner will construct the North Pathway with the exact location thereof to be
determined by Owner in its reasonable discretion. If DOCS is unsuccessful in
obtaining INDOT's consent for Owner to construct the Pathway, then Owner will
construct a pathway similar to the North Pathway, but which would be located on the
south side of Rohrer Road and would be interrupted by various curb cuts for the traffic
patterns determined by Owner during the course of the redevelopment of the Real
Estate (the "South Pathway"). Notwithstanding anything to the contrary contained
herein, the obligation of Owner to construct the North Pathway shall not apply in the
event that Owner determines in its reasonable discretion that the cost to construct the
Pathway is too high.
Section 3. Effective Date. The Commitments contains herein shall be effective only upon
the occurrence of the following events:
A. Approval by the Plan Commission of the Application;
B. The recording of this instrument in the property records of Hamilton County, Indiana;
and
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C. Commencement of development and construction upon the Real Estate in accordance
with the Application.
Section 4. Binding Successors and Modifications. The Commitments contained herein
shall be binding upon each successor, assignee and grantee acquiring an interest in any portion of
the Real Estate during such successor's, assign's and grantee's ownership thereof The
Commitments shall remain binding unless hereafter modified or terminated in writing by the Plan
Commission after a public hearing wherein notice is provided by the Plan Commission's Rules of
Procedure.
Section 5. Enforcement. These Commitments may be enforced by the Plan Commission.
[Signature pages to be added following approval of the Application
and prior to the execution and recording of this instrument.]