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HomeMy WebLinkAboutCC-03-02-20-01 Seeks a review of Hotel Carmichael funding and procedures Sponsors: Finkam,Worrell, Rider Aasen, Kimball RESOLUTION CC 03-02-20-01 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA,SEEKING A REVIEW OF HOTEL CARMICHAEL FUNDING Synopsis: This Resolution seeks a review of Hotel Carmichael funding and procedures. WHEREAS, in 2017, the Carmel Common Council ("Council") approved bonds in the amount of 18 million dollars, which monies were designated for use by the Cannel Redevelopment Commission("CRC") in its construction of the Hotel Carmichael ("Hotel); and WHEREAS, in 2017, the CRC originally projected that it would cost 40 million dollars to construct the Hotel; and WHEREAS, due primarily to a cited increase in construction costs, the Hotel, which is nearing completion, is now projected to cost approximately 58 million dollars; and WHEREAS, numerous decisions were made by the CRC in order to find relief for soaring costs that have financial and legal implications; and WHEREAS, the CRC made land use and financial decisions independent of the Council; and WHEREAS, pursuant to Indiana Code § 36-4-6-21, the Council has the authority to investigate City departments, officers, and employees; and WHEREAS, given the significant increase in Hotel construction costs that has occurred in the approximately three (3) years since the CRC's initial cost projection, it is in the best interests of the City and its residents to now seek a review of the CRC's Hotel funding to ensure that it has been and continues to be in compliance with applicable laws and fiscal procedures. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Cannel, Indiana, as follows: Section 1. The foregoing Recitals are incorporated herein by this reference. Resolution CC 03-02-20-01 Page One of Three Pages This Resolution was prepared by Douglas C.Haney,Carmel Corporation Counsel,on 2/20/20 at 3:30 p.m.No subsequent revision to this Resolution has been reviewed by Mr.Haney for legal sufficiency or otherwise. Section 2. The Council hereby authorizes and directs its Finance Committee to investigate the budgeting, cost management, and funding of the Hotel to determine whether it has been and is in compliance with all applicable laws and fiscal procedures. Section 3. The Council hereby authorizes the Council Finance Committee to utilize Corporation Counsel,outside counsel or consultants, and other offices or departments of the City as necessary to aid in its investigation. If the Council Finance Chair elects to engage outside counsel or consultants during this review, the estimated funds necessary to do so shall not exceed $15,000 without a formal affirmative vote of the Finance Committee, and the estimated funds necessary to engage outside counsel or consultants during this review shall not exceed $30,000 without a formal affirmative vote of the full Council. The CRC is responsible for reimbursing its consultants from its own annual budget. Section 4. The Council hereby authorizes and directs the Cannel Clerk and the Cannel Corporation Counsel to support, as necessary, the Council Finance Committee in presenting its findings, in writing, to the full Council once the investigation is complete. SQ„RES�LVED, by the Common Cou ccilpf the City of armel, Indiana, this'' day of (/ll'a 1'\ , 2020,by a vote of ayes and nays. COMMON COUNCIL FOR THE OF CARMEL CotAA frA Age — Laura D. Campbell, President Su.4317 i - 'res= `< AIMMENismassor t4r H. Bru ' ball evin D. Ri er Anthony r Jeff I 1 v Timothy J. on Miles Nelson Adam A sen AJ bt}pa4r Sue Wolfgang, Cl Resolution CC 03-02-20-01 Page Two of Three Pages This Resolution was prepared by Douglas C.Haney,Carmel Corporation Counsel,on 2/20/20 at 3:30 p.m.No subsequent revision to this Resolution has been reviewed by Mr.Haney for legal sufficiency or otherwise. Presented by me to the.Mayor of the City of Carmel, Indiana, this day of 0{C''I 2020, at 7 .K6 P .M. Sue Wolfgang, erk Approved by� me,the Mayor of the City of Carmel, Indiana, this 2 day of M/&( G/ 2020, at / am. James Brainard, Mayor Resolution CC 03-02-20-01 Page Three of Three Pages This Resolution was prepared by Douglas C.Haney,Carmel Corporation Counsel,on 2/20/20 at 3:30 p.m.No subsequent revision to this Resolution has been reviewed by Mr.Haney for legal sufficiency or otherwise.