HomeMy WebLinkAboutAugust 12, 2020 CRC MinutesCRC Meeting, August 12, 2020
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CARMEL REDEVELOPMENT COMMISSION Meeting
Wednesday, August 12, 2020
ATTENDANCE:
President Bill Hammer Present
Vice President Dave Bowers Present
Secretary Bill Brooks Present
Member Adam Campagna Present
Member Jeff Worrell Present
Member Katie Browning Not Present
Executive Director Henry Mestetsky Present
Deputy Director Jenell Fairman Present
Finance Manager Michael Lee Present
Project Manager Larysa Glaspie Present
Office Manager Rachel Finn Present
Legal Counsel Ryan Wilmering Present
President Hammer called the meeting to order at 6:35 p.m.
The Pledge of Allegiance was recited.
Approval of Minutes
The July 15, 2020 minutes were presented. Commissioner Worrell moved to approve the minutes.
Commissioner Campagna seconded.
Vote: Yes No Abstain/Recuse
Bill Hammer X
Dave Bowers X
Bill Brooks X
Adam Campagna X
Jeff Worrell X
Financial Matters
Mr. Lee stated the Commission’s end of the month July balance totaled $3,594,368 and, including
the restricted funds, the balance totaled $10,805,173.
Approval of Claims
Mr. Lee requested the Commission to approve the non-operating invoices in the amount of
$185,548.67.
Mr. Lee requested the Commission to approve the 2016 COIT Bond claims in the amount of
$12,660.38.
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 X
CRC Meeting, August 12, 2020
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Executive Director Reports with Update on Properties
Executive Director Mestetsky reported that construction continues throughout the City of Carmel
and the CRC hopes to have the Hotel Carmichael open by the end of August.
Committee Reports
Finance Committee – There was a meeting to review the financials of the potential new owner of
the MJ Insurance Building to ensure they meet the same financial requirements as set forth in the
agreements pertaining to the Midtown North bonds.
Architectural Review Committee – none.
Old Business
None.
New Business
a. Public Hearing for The Corner confirmatory resolution
President Hammer opened the Public Hearing at 6:39 p.m. With no members of the public
wishing to speak, President Hammer closed the Public Hearing at 6:40 p.m.
b. Action Item #1 – Resolution 2020-27 re: confirmatory resolution for The Corner
allocation area
Mr. Lee asked that the Commission approve the resolution to finalize the creation of The Corner
allocation area.
Commissioner 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 X
c. Action Item #2 – Approval of closing documents related to private sale of 571
Monon Boulevard
Executive Director Mestetsky asked that the Commission approve the resolution to authorize the
President and Director to sign documents for this closing.
Commissioner Worrell 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 X
d. Action Item #3 – Ratification of Hotel Carmichael contracts
Executive Director Mestetsky asked that the Commission ratify Hotel Carmichael contracts
associated with bid package 3. These items are already part of the final budget presented to
Council.
Secretary Brooks moved to approve. Commissioner Worrell seconded.
CRC Meeting, August 12, 2020
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Vote: Yes No Abstain/Recuse
Bill Hammer X
Dave Bowers X
Bill Brooks X
Adam Campagna X
Jeff Worrell X
e. Action Item #4 – Resolution 2020-28 re: refunding of 2012A Multipurpose Bonds
and 2014 PAC Bonds and approval of Amended and Restated Revenue Deposit
Agreement.
Mr. Lee asked that the Commission approve the resolution fully refunding both the 2012A
Multipurpose Bonds and 2014 PAC Bonds, which will save money on interest payments due to
current market conditions, and approve the Amended and Restated Revenue Deposit Agreement.
Commissioner 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 X
Other Business
None.
Adjournment
The Commission adjourned the meeting at 6:53 p.m.
The next regularly scheduled meeting is Wednesday, September 23, 2020, 6:30 p.m.