HomeMy WebLinkAboutResolution_BPW_07-07-21-02; PRIF Credit Agreement; ($876,740.00); The Signature at Carmel RESOLUTION NO. BPW 07-07-21-__
A RESOLUTION REQUESTING THE FINANCING, CONSTRUCTION, AND
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 Unified Development Ordinance §1.3(F) 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 within Carmel, Indiana and over which the City of
Carmel, Indiana (“City”) exercises planning and zoning jurisdiction; and,
WHEREAS, City of Carmel Unified Development Ordinance §1.3(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, PRIF in the amount of $876,740.00 is due and owing by The Signature At Carmel
LLC, an Indiana limited liability company, (“The Signature”) to the City by virtue of certain improvements
identified on attached Exhibit A (the “Targeted PRIF”); and,
WHEREAS, the Board now desires to request that The Signature, finance and construct those
certain infrastructure and improvements set forth on attached Exhibit B, 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
Two Hundred One Thousand Five Hundred Fifty-Two and Six Tenths Dollars ($201,552.60); and,
WHEREAS, The Signature covenants that the infrastructure and improvements set forth in Exhibit
B shall remain open to the public for their use and enjoyment in perpetuity; and,
WHEREAS, The Signature shall maintain, repair and replace the infrastructure and improvements
set forth in Exhibit B as necessary and to the satisfaction of the City, in perpetuity; and,
WHEREAS, the Board also desires to request that The Signature finance future infrastructure or
improvements that meet the requirements set forth in Indiana Code § 36-7-4-1335(a) in the amount of
$675,187.40; and,
WHEREAS, in exchange for the dedication and financing of infrastructure or improvements as set
forth above, the Board has determined that The Signature shall receive a PRIF Credit in the amount of
exactly Eight Hundred Seventy Six Thousand Seven Hundred Forty Dollars ($876,740.00) toward the
Targeted PRIF; and,
WHEREAS, The Signature shall execute and return to the Board the Credit Agreement set forth on
attached Exhibit C, 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 A.
NOW, THEREFORE, BE IT RESOLVED by the Board of Public Works and Safety of the City
DocuSign Envelope ID: 39EAF07F-154A-4BE0-B9C6-0178F076DD5E
of Carmel, Indiana as follows:
1. The foregoing Recitals are incorporated herein by this reference.
2. The Board hereby requests that The Signature dedicate and finance infrastructure or
improvements that meet the requirements set forth in Indiana Code § 36-7-4-1335(a) in exchange for a PRIF
credit the Board has determined should be in the amount of exactly $876,740.00, 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 C.
4. Henry Mestetsky, 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.
Mr. Mestetsky shall deposit the funds received pursuant to this Resolution into City Fund #902. These funds
shall be drawn upon to finance the construction of Parks and Recreation infrastructure or improvements that
meet the requirements of Indiana Code § 36-7-4-1335(a).
SO RESOLVED.
Approved and adopted this ___ day of _____________ 2021.
CARMEL BOARD OF PUBLIC WORKS AND SAFETY
By:
__________________________________
James Brainard, Presiding Officer
Date: _____________________________
__________________________________
Mary Ann Burke, Member
Date: _____________________________
__________________________________
Lori S. Watson, Member
Date: _____________________________
ATTEST:
__________________________________
Sue Wolfgang, Clerk
Date: _____________________________
DocuSign Envelope ID: 39EAF07F-154A-4BE0-B9C6-0178F076DD5E
7/7/2021
7/7/2021
7/7/2021
7/7/2021
7/7/2021
EXHIBIT C
PRIF CREDIT AGREEMENT
COMES NOW The Signature At Carmel LLC, an Indiana limited liability company, (“The Signature”), by
its undersigned, duly authorized agent, and states as follows:
Pursuant to the terms set forth in BPW Resolution 07-07-21-__, The Signature hereby agrees to
finance and construct those certain infrastructure items or public improvements set forth in attached Exhibit
B, and to contribute $675,187.40 in order to finance the construction of future infrastructure items or public
improvements that meet the requirements of Indiana Code 36-7-4-1335(a), in exchange for a Parks and
Recreation Impact Fee (“PRIF”) credit not to exceed $876,740.00.
After the improvements are completed and have been accepted by the Carmel Board of Public Works
and Safety, any remaining unused PRIF shall be made available for use by the Carmel Department of Parks
and Recreation, pursuant to the requirements of the City.
SO AGREED this ____ day of _____________ 2021.
________________________________, LLC
By:
____________________________________
Authorized Signature
____________________________________
Printed Name
____________________________________
Title
6th July
The Signature At Carmel
Matthew Cremer
Manager
DocuSign Envelope ID: 39EAF07F-154A-4BE0-B9C6-0178F076DD5E
Exhibit A, Page 1The Signature, PRIF Agreement
Total residential units: 295 TOTAL UNIT COUNT FIRST FLOOR = 40DocuSign Envelope ID: 39EAF07F-154A-4BE0-B9C6-0178F076DD5E
UPDNDNUPUPDNUPDNSLOPE SLOPESLOPEUPDNOpen to Be
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BUILDING PLAN
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ENGINEER GENERAL NOTES1.THE GENERAL CONTRACTOR SHALL VERIFY ALL CONDITIONS AT THEJOBSITE. NOTIFY ARCHITECT OF ANY DEVIATIONS FROM THOSECONDITIONS AS THEY ARE NOTED ON THE DRAWINGS.2.THE GENERAL CONTRACTOR SHALL COORDINATE AND SCHEDULE ALLWORK WITH THE OWNER.3.THE GENERAL CONTRACTOR IS RESPONSIBLE FOR COMPLIANCE WITHALL STATE AND LOCAL BUILDING CODES AND GOVERNMENTREGULATORY AGENCIES.4.THE GENERAL CONTRACTOR IS TO SUBMIT SHOP DRAWINGS-PROJECTDATA AND SAMPLES TO OWNER/ARCHITECT FOR APPROVAL PRIORTO FABRICATION OF ALL MILLWORK AND WALL FINISHES.5.DO NOT SCALE ANY DRAWING. ANY DIMENSIONS ARE TO BEOBTAINED FROM THE ARCHITECT IF NOT NOTED ON THE DRAWINGS.REFER ALL QUESTIONS TO THE ARCHITECT OR ENGINEER ONRECORD.6.ALL DIMENSIONS ARE TO C.L. OF DEMISING WALL OF UNITS AND FACEOF FRAMING.7.THE GENERAL CONTRACTOR SHALL KEEP ONE SET OF PLANS AT THEJOBSITE FOR THE SPECIFIC PURPOSE OF RECORDING ACTUALCONSTRUCTION CONDITIONS. SUCH PROJECT RECORD-DOCUMENTSSHALL BE PROVIDED TO THE OWNER UPON COMPLETION OF THEPROJECT.8.THE GENERAL CONTRACTOR SHALL VERIFY SIZE, LOCATION, ANDCHARACTERISTICS OF ALL WORKS AND EQUIPMENT SUPPLIED BY THEOWNER OR OTHERS WITH THE MANUFACTURER OR SUPPLIER PRIORTO THE START OF THE WORK.9.THE GENERAL CONTRACTOR SHALL SEE THAT ALL SUBCONTRACTORSRECEIVE COMPLETE WORKING DRAWINGS AND ASSUME FULLRESPONSIBILITY FOR COORDINATION OF WORK.10.PRIMARY ENTRANCE DOOR NUMBERS CORRESPOND TO ROOMNUMBERS OR UNIT NUMBERS.PLAN KEY NOTESUNIT TYPEAPT #UNIT SHEETUNIT TAGSAREA B
AREA C
AREA B
AREA C
AREA DAREA DAREA CAREA CAREA EAREA EAREA DAREA D73'-0"88'-512"438'-4"250'-11"70'-4"
109'-4"76'-512"37'-212"28'-0"65'-712"105'-912"110'-1"
50'-8"28'-9"128'-512"
93'-11"
43'-912"31'-4"23'-10"156'-9"333'-5"247'-8"123'-0"AREA B
AREA AAREA BAREA AS1A12A3A1A1A1B12A1A1A1A1A1A1A1A1B4A12A1A1A1A1A1A1A1A1B1A1B1A4CONDOB13CONDOB13A12A3A11B3A1A1B1A8A6A2A2A2A2A2aA2aA2aA2aA12B3B1S3B3B4aB1A2A2A2A2A2B2B3B5B5A9A10S2A12A9A9A9A9A9A9A9SCALE:01OVERALL BUILDING PLANSECOND FLOOR 1/32" = 1'-0"NORTH02A20101A20104A20103A20147'-612"01/02A20702A204Exhibit A, Page 2The Signature, PRIF AgreementTotal residential units: 295TOTAL UNIT COUNT SECOND FLOOR = 73DocuSign Envelope ID: 39EAF07F-154A-4BE0-B9C6-0178F076DD5E
UPDNUPDNUPDNUPDNDNUPA103ARCHITECTCLIENTPROJECTDRAWING TITLESEALSHEETPROJECT INFO REVISIONS20010APRIL 02, 2021THE SIGNATURE
CARMEL
CARMEL, INCHECK SETNO
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ENGINEER GENERAL NOTES1.THE GENERAL CONTRACTOR SHALL VERIFY ALL CONDITIONS AT THEJOBSITE. NOTIFY ARCHITECT OF ANY DEVIATIONS FROM THOSECONDITIONS AS THEY ARE NOTED ON THE DRAWINGS.2.THE GENERAL CONTRACTOR SHALL COORDINATE AND SCHEDULE ALLWORK WITH THE OWNER.3.THE GENERAL CONTRACTOR IS RESPONSIBLE FOR COMPLIANCE WITHALL STATE AND LOCAL BUILDING CODES AND GOVERNMENTREGULATORY AGENCIES.4.THE GENERAL CONTRACTOR IS TO SUBMIT SHOP DRAWINGS-PROJECTDATA AND SAMPLES TO OWNER/ARCHITECT FOR APPROVAL PRIORTO FABRICATION OF ALL MILLWORK AND WALL FINISHES.5.DO NOT SCALE ANY DRAWING. ANY DIMENSIONS ARE TO BEOBTAINED FROM THE ARCHITECT IF NOT NOTED ON THE DRAWINGS.REFER ALL QUESTIONS TO THE ARCHITECT OR ENGINEER ONRECORD.6.ALL DIMENSIONS ARE TO C.L. OF DEMISING WALL OF UNITS AND FACEOF FRAMING.7.THE GENERAL CONTRACTOR SHALL KEEP ONE SET OF PLANS AT THEJOBSITE FOR THE SPECIFIC PURPOSE OF RECORDING ACTUALCONSTRUCTION CONDITIONS. SUCH PROJECT RECORD-DOCUMENTSSHALL BE PROVIDED TO THE OWNER UPON COMPLETION OF THEPROJECT.8.THE GENERAL CONTRACTOR SHALL VERIFY SIZE, LOCATION, ANDCHARACTERISTICS OF ALL WORKS AND EQUIPMENT SUPPLIED BY THEOWNER OR OTHERS WITH THE MANUFACTURER OR SUPPLIER PRIORTO THE START OF THE WORK.9.THE GENERAL CONTRACTOR SHALL SEE THAT ALL SUBCONTRACTORSRECEIVE COMPLETE WORKING DRAWINGS AND ASSUME FULLRESPONSIBILITY FOR COORDINATION OF WORK.10.PRIMARY ENTRANCE DOOR NUMBERS CORRESPOND TO ROOMNUMBERS OR UNIT NUMBERS.PLAN KEY NOTESUNIT TYPEAPT #UNIT SHEETUNIT TAGSAREA B
AREA C
AREA B
AREA C
AREA DAREA DAREA CAREA CAREA EAREA EAREA DAREA D73'-0"88'-512"438'-4"250'-11"70'-4"
109'-412"76'-5"37'-212"28'-0"65'-712"105'-912"110'-1"
50'-8"28'-9"128'-512"
93'-11"
43'-912"31'-4"41'-5"156'-9"333'-5"247'-8"123'-0"AREA B
AREA AAREA BAREA AS1A12A3A1A1A1B12A1A1A1A1A1A1A1A1B4A12A1A1A1A1A1A1A1A1B1A1B1A4CONDOB13CONDOB13A12A3A11B3A1A1B1A8A6A2A2A2A2A2aA2aA2aA2aA12B3B1S3B3B4aB1B6A2A2A2A2B7B3B5B5A9B1B1S2A12A10A9A9A9A9A9A9A9THIRD FLOOR
OVERALL
BUILDING PLAN17'-7"47'-612"02A20101A20104A20103A20101/02A20702A204SCALE:01OVERALL BUILDING PLANTHIRD FLOOR 1/32" = 1'-0"NORTHExhibit A, Page 3The Signature, PRIF AgreementTotal residential units: 295TOTAL UNIT COUNT THIRD FLOOR = 75DocuSign Envelope ID: 39EAF07F-154A-4BE0-B9C6-0178F076DD5E
DNDNUPDNUPDNDNA104ARCHITECTCLIENTPROJECTDRAWING TITLESEALSHEETPROJECT INFO REVISIONS20010APRIL 02, 2021THE SIGNATURE
CARMEL
CARMEL, INCHECK SETNO
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ENGINEER GENERAL NOTES1.THE GENERAL CONTRACTOR SHALL VERIFY ALL CONDITIONS AT THEJOBSITE. NOTIFY ARCHITECT OF ANY DEVIATIONS FROM THOSECONDITIONS AS THEY ARE NOTED ON THE DRAWINGS.2.THE GENERAL CONTRACTOR SHALL COORDINATE AND SCHEDULE ALLWORK WITH THE OWNER.3.THE GENERAL CONTRACTOR IS RESPONSIBLE FOR COMPLIANCE WITHALL STATE AND LOCAL BUILDING CODES AND GOVERNMENTREGULATORY AGENCIES.4.THE GENERAL CONTRACTOR IS TO SUBMIT SHOP DRAWINGS-PROJECTDATA AND SAMPLES TO OWNER/ARCHITECT FOR APPROVAL PRIORTO FABRICATION OF ALL MILLWORK AND WALL FINISHES.5.DO NOT SCALE ANY DRAWING. ANY DIMENSIONS ARE TO BEOBTAINED FROM THE ARCHITECT IF NOT NOTED ON THE DRAWINGS.REFER ALL QUESTIONS TO THE ARCHITECT OR ENGINEER ONRECORD.6.ALL DIMENSIONS ARE TO C.L. OF DEMISING WALL OF UNITS AND FACEOF FRAMING.7.THE GENERAL CONTRACTOR SHALL KEEP ONE SET OF PLANS AT THEJOBSITE FOR THE SPECIFIC PURPOSE OF RECORDING ACTUALCONSTRUCTION CONDITIONS. SUCH PROJECT RECORD-DOCUMENTSSHALL BE PROVIDED TO THE OWNER UPON COMPLETION OF THEPROJECT.8.THE GENERAL CONTRACTOR SHALL VERIFY SIZE, LOCATION, ANDCHARACTERISTICS OF ALL WORKS AND EQUIPMENT SUPPLIED BY THEOWNER OR OTHERS WITH THE MANUFACTURER OR SUPPLIER PRIORTO THE START OF THE WORK.9.THE GENERAL CONTRACTOR SHALL SEE THAT ALL SUBCONTRACTORSRECEIVE COMPLETE WORKING DRAWINGS AND ASSUME FULLRESPONSIBILITY FOR COORDINATION OF WORK.10.PRIMARY ENTRANCE DOOR NUMBERS CORRESPOND TO ROOMNUMBERS OR UNIT NUMBERS.PLAN KEY NOTESUNIT TYPEAPT #UNIT SHEETUNIT TAGSAREA B
AREA C
AREA B
AREA C
AREA DAREA DAREA CAREA CAREA EAREA EAREA DAREA D73'-0"88'-512"438'-4"250'-11"70'-4"
109'-412"76'-5"37'-212"28'-0"65'-712"105'-912"110'-1"
50'-8"28'-9"128'-512"
93'-11"
43'-912"31'-4"41'-5"156'-9"333'-5"247'-8"123'-0"AREA B
AREA AAREA BAREA AS1A12A3A1A1A1B12A1A1A1A1A1A1A1A1B4A12A1A1A1A1A1A1A1A1B1A1B1A4CONDOB13CONDOB13A12A3A11B3A1A1B1A8A6A2A2A2A2A2aA2aA2aA2aA12B3B1S3B3B4aB1B6A2A2A2A2B7B3A9B5B5A10B1B1S2A9A9A9A9A9A9A9A12FOURTH FLOOR
OVERALL
BUILDING PLAN17'-7"47'-612"02A20101A20104A20103A20101/02A20702A204SCALE:01OVERALL BUILDING PLANFOURTH FLOOR 1/32" = 1'-0"NORTHExhibit A, Page 4The Signature, PRIF AgreementTotal residential units: 295TOTAL UNIT COUNT FOURTH FLOOR = 75DocuSign Envelope ID: 39EAF07F-154A-4BE0-B9C6-0178F076DD5E
DNDNA105ARCHITECTCLIENTPROJECTDRAWING TITLESEALSHEETPROJECT INFO REVISIONS20010APRIL 02, 2021THE SIGNATURE
CARMEL
CARMEL, INCHECK SETNOT FOR CONSTRUCTIONENGINEER GENERAL NOTES1.THE GENERAL CONTRACTOR SHALL VERIFY ALL CONDITIONS AT THEJOBSITE. NOTIFY ARCHITECT OF ANY DEVIATIONS FROM THOSECONDITIONS AS THEY ARE NOTED ON THE DRAWINGS.2.THE GENERAL CONTRACTOR SHALL COORDINATE AND SCHEDULE ALLWORK WITH THE OWNER.3.THE GENERAL CONTRACTOR IS RESPONSIBLE FOR COMPLIANCE WITHALL STATE AND LOCAL BUILDING CODES AND GOVERNMENTREGULATORY AGENCIES.4.THE GENERAL CONTRACTOR IS TO SUBMIT SHOP DRAWINGS-PROJECTDATA AND SAMPLES TO OWNER/ARCHITECT FOR APPROVAL PRIORTO FABRICATION OF ALL MILLWORK AND WALL FINISHES.5.DO NOT SCALE ANY DRAWING. ANY DIMENSIONS ARE TO BEOBTAINED FROM THE ARCHITECT IF NOT NOTED ON THE DRAWINGS.REFER ALL QUESTIONS TO THE ARCHITECT OR ENGINEER ONRECORD.6.ALL DIMENSIONS ARE TO C.L. OF DEMISING WALL OF UNITS AND FACEOF FRAMING.7.THE GENERAL CONTRACTOR SHALL KEEP ONE SET OF PLANS AT THEJOBSITE FOR THE SPECIFIC PURPOSE OF RECORDING ACTUALCONSTRUCTION CONDITIONS. SUCH PROJECT RECORD-DOCUMENTSSHALL BE PROVIDED TO THE OWNER UPON COMPLETION OF THEPROJECT.8.THE GENERAL CONTRACTOR SHALL VERIFY SIZE, LOCATION, ANDCHARACTERISTICS OF ALL WORKS AND EQUIPMENT SUPPLIED BY THEOWNER OR OTHERS WITH THE MANUFACTURER OR SUPPLIER PRIORTO THE START OF THE WORK.9.THE GENERAL CONTRACTOR SHALL SEE THAT ALL SUBCONTRACTORSRECEIVE COMPLETE WORKING DRAWINGS AND ASSUME FULLRESPONSIBILITY FOR COORDINATION OF WORK.10.PRIMARY ENTRANCE DOOR NUMBERS CORRESPOND TO ROOMNUMBERS OR UNIT NUMBERS.PLAN KEY NOTESUNIT TYPEAPT #UNIT SHEETUNIT TAGSFIFTH FLOOR
OVERALL
BUILDING PLAN
AREA B
AREA C
AREA B
AREA C
AREA DAREA DAREA CAREA CAREA EAREA EAREA DAREA D88'-512"329'-512"37'-212"28'-0"50'-8"28'-9"128'-512"214'-012"247'-8"123'-0"AREA B
AREA AAREA BAREA AB10A6A6B4A12A6A6A6B1aA5B3A6A6B1aB11A2A2A2A2B8A12B3B9A12112'-1012"02A20101A20104A20103A20101/02A20702A204SCALE:01OVERALL BUILDING PLANFIFTH FLOOR 1/32" = 1'-0"NORTHA6A6A6A6A6A6A6B8Exhibit A, Page 5The Signature, PRIF AgreementTotal residential units: 295TOTAL UNIT COUNT FIFTH FLOOR = 32DocuSign Envelope ID: 39EAF07F-154A-4BE0-B9C6-0178F076DD5E
Exhibit B, Page 1The Signature, PRIF AgreementTotal residential units: 295DocuSign Envelope ID: 39EAF07F-154A-4BE0-B9C6-0178F076DD5E