HomeMy WebLinkAboutResolution_BPW_04-01-20-03/Requesting Dedication of Certain Infrastructure or Other Impact Zone Improvements in Lieu of and as a Credit Against the Payment of Parks and Recreation Impact Fees (“PRIF”) and Approving a PRIF Credit Agreement RESOLUTION NO. BPW 04-01-20-03
A RESOLUTION REQUESTING DEDICATION OF CERTAIN INFRASTRUCTURE OR
OTHER IMPACT ZONE IMPROVEMENTS IN LIEU OF AND AS A CREDIT AGAINST
THE PAYMENT OF PARKS AND RECREATION IMPACT FEES ("PRIF")AND
APPROVING A PRIF CREDIT AGREEMENT
WHEREAS, Indiana Code 36-7-4-1335 permits the application of a credit against the payment of
impact fees for persons who construct or provide certain infrastructure or other improvements of a type for
which a unit imposes an impact fee in an impact zone;and,
WHEREAS, City of Carmel Zoning Ordinance 29.07.05 permits the City of Carmel Board of
Public Works and Safety ("Board") to request that any person otherwise required to pay PRIF to instead
finance, construct, and dedicate certain infrastructure or improvements in the Parks and Recreation
Infrastructure Impact Zone("Impact Zone")located in Clay Township, Indiana and over which the City of
Carmel,Indiana("City")exercises planning and zoning jurisdiction;and,
WHEREAS, City of Cannel Unified Development Ordinance 1.30(F) also permits the Board to
determine the amount of PRIF credit any person requested to finance, construct, and dedicate certain
infrastructure or improvements in the Impact Zone in lieu of PRIF payment shall receive, and to
memorialize this determination in a credit agreement("Credit Agreement");and,
WHEREAS, the Board now desires to request that Cannel Development IV, an Indiana limited
liability company ("LLC"), dedicate to the City, within sixty (60) days of which this Resolution is
approved by the Board (the "End Date"), those certain infrastructure or improvements set for the on
attached Exhibit A,the same being incorporated herein by this reference, in exchange for a PRIF credit the
Board has determined should be in the amount of exactly Five Hundred Eighty Five Thousand, Four
Hundred Eighty Four Dollars($585,484.00);and,
WHEREAS, Cannel Development IV, LLC, shall execute and return to the Board, by and
through the Cannel Office of Corporation Counsel, the Credit Agreement set forth on attached Exhibit B,
the same being incorporated herein by this reference, prior to the issuance of the improvement location fee
for that certain improvement identified on attached Exhibit C, the same being incorporated herein by this
reference;and
WHEREAS, PRIF in the amount of$585,484.00 is due and owing by Cannel Development IV,
LLC to the City by virtue of that certain improvement identified on attached Exhibit C (the "Targeted
PRIF");and,
WHEREAS, Cannel Development IV's obligation to pay the Targeted PRIF to the City shall be
held in abeyance until the earlier of the acceptance by the Board,in its sole discretion, or the infrastructure
or improvements set forth on attached Exhibit A ("Board Acceptance") or the End Date. Upon Board
Acceptance, the City shall promptly enter the credit identified herein against Carmel Development IV~
LLC's Targeted PRIF obligations. If Board Acceptance does not occur by the End Date,no credit shall be
entered against the Targeted PRIF and the same shall thereafter become immediately due and owing to the
City.
NOW,THEREFORE,BE IT RESOLVED by the Board of Public Works and Safety of the City
of Carmel, Indiana as follows:
1. The foregoing Recitals are incorporated herein by this reference.
2. The Board hereby requests that Carmel Development IV, LLC dedicate to the City those
certain infrastructure or improvements set forth on attached Exhibit A, in exchange for a PRIF credit of
exactly$585,484.00,pursuant to the terms and conditions set forth hereinabove.
3. The Board hereby approves the Credit Agreement in the form as set forth in attached Exhibit B.
4. That Michael Hollibaugh, on behalf of the City and the Board, is hereby authorized and
directed to take such actions as are lawful, necessary,and proper to effectuate the transaction approved by
this Resolution.
SO RESOLVED.
Approved and adopted this 1st day of AP"l , 2020.
CARMEL BOARD OF PUBLIC WORKS AND SAFETY
By:
damisi•osaid
es Braipard, Presiding Officer
Date: AI 1l di"- '
ti
114, id-"^k(—
Marynn Burke,Member
Date:4/1/2020
on S.Watson, Member
Date:4/1/2020
ATTEST:
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Sue : ///, Cler
Date: I/�J��7OO�U
o ,o Project Name: Proscenium
� • Estimate: Park Fee Offset Items
•
•�• Project Estimator: TH-RR
T Updated: 3/20/20
Statement of Probable Cost-Park Fee Offset Items
Quantity
Handrails and Railings 860 LF $ 166.54 /LF $ 143,224.83
Benchs,Trash Cans 1 LS $ 8,963.74
Bike Racks 24 EA $ 474.39 /EA $ 11,385.26
Pavers 3981 SF $ 27.49 /SF $ 109,437.69
Stamped Concrete 15120 SF $ 12.22 /SF $ 184,839.20
Planters-Block 3903 SF $ 13.25 /SF $ 51,714.75
Planters-Decorative Cop/Seat Walls 1801 LF $ 14.00 /LF $ 25,214.00
Planters-Tree Insets Split Face w/Cap 25 EA $ 1,098.00 /EA $ 27,450.00
Landscaping,Raised Planters 5267 SF $ 9.00 /SF $ 47,403.00
Landscaping,Plaza Grass Bed 21113 SF $ 5.83 /SF $ 123,088.79
Total Hard Cost $ 732,721.26
Novo Development Group L 4:1■I I:J`6
• 1215 S.Rangeline Road
Carmal,IN 46032 A
317.708.9400
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EXHIBIT B
PRIF CREDIT AGREEMENT
COMES NOW Cannel Development IV,an Indiana limited liability company,by its undersigned,duly
authorized agent,and states as follows:
Cannel Development IV,LLC hereby agrees to dedicate to the City of Carmel,Indiana,by and
through its Board of Public Works and Safety,those certain infrastructure items or public improvements set
forth in attached Exhibit A,the same being incorporated by this reference,in exchange for a Parks and
Recreation Impact Fee("PRIF")credit not to exceed$585,484.00,as defined in Exhibit A.
SO AGREED this_20th_day of March 2020.
Carmel Development IV.LLC
By:
AGoe ature
Anthony W.Birkla
Printed Name
Managing Member
Title
PROJECT NAME Proscenium Apartments Buildings 1-4
LOCATION:
NAME OF APPLICANT Tim Hill
ADDRESS 1215 S Rangeline Rd
PHONE: 317-753-4016
Proscenium -Carmel Dev IV 6-24-2019 Buildings 1-4 Matrix
Number Units Bedroom Type
Building 1 72 $213,984.00
Unit Al 33 1
Unit A2 4 1
Unit A3 1 1
Unit B1 22 2
Unit B2 1 2
Unit Cl 4 2
UnitC2 3 2
UnitC3 4 2
Building 2 48 $ 142,656.00
Unit Al 12 1
UnitA2 15 1
UnitA3 2 1
Unit A4 3 1
Unit A5 3 1
Unit B1 7 2
Unit B2 6 2
Building 3 33 $ 98,076.00
Unit Al 9 1
Unit A2 3 1
Unit A3 3 1
Unit A4 3 1
Unit A5 6 1
Unit B1 9 2
Building 4 44 $ 130,768.00
Unit Al 20 1
Unit B1 14 2
Unit Cl 3 2
Unit C2 3 2
Unit C3 4 2
Total Units 197
Apartments 197
Condos 0
Park and Rec Fee/ Unit $ 2,972.00
Total Fee $ 585,484.00
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