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HomeMy WebLinkAboutNovember 17, 2021 CRC MinutesCRC Meeting, November 17, 2021 1 CARMEL REDEVELOPMENT COMMISSION MEETING Wednesday, November 17, 2021 ATTENDANCE: President Bill Hammer Present Vice President Dave Bowers Present Secretary Bill Brooks Present Member Adam Campagna Absent Member Jeff Worrell Present Member Michael Kerschner Absent Executive Director Henry Mestetsky Present (Via Teams) Deputy Director Jenell Fairman Absent Finance Manager Michael Lee Absent Project Manager Larysa Glaspie Present Office Manager Rachel Finn Present Legal Counsel City Legal Adam Collins Sergey Grechukhin Present Present President Hammer called the meeting to order at 6:40 p.m. The Pledge of Allegiance was recited. Approval of Minutes October 20, 2021 minutes were presented. Secretary Brooks moved to approve the minutes. Vice President Bowers seconded. Vote: Yes No Abstain/Recuse Bill Hammer X Dave Bowers X Bill Brooks X Adam Campagna Jeff Worrell X Financial Matters Ms. Glaspie stated the Commission’s end of the month balance for October totaled $3,471,280 and, including the restricted funds, the balance totaled $13,235,374. Approval of Claims Ms. Glaspie requested the Commission to approve the non-operating invoices in the amount of $81,876.20. Ms. Glaspie requested the Commission to approve the 856 Gift Fund claims in the amount of $2,165.00. Ms. Glaspie requested the Commission to approve the 2021 Local Income Tax General Obligation bonds in the amount of $3,342.50. Vice President Bowers moved to approve the claims, seconded by Commissioner Worrell. CRC Meeting, November 17, 2021 2 Vote: Yes No Abstain/Recuse Bill Hammer X Dave Bowers X Bill Brooks X Adam Campagna Jeff Worrell X Executive Director Reports with Update on Properties Executive Director Mestetsky presented project updates to the Commission. Committee Reports Finance Committee did not meet this month. Vice President Bowers added that during the monthly Hotel update meeting, it was reported the Hotel is doing very well. Architectural Review Committee – Secretary Brooks informed the Commission that the Architectural Review Committee met on November 8th and approved the updated plans and elevations for the Proscenium II, Civic Square Garage, and the Studio M Office building. Old Business None. New Business a. Action Item #1 – Resolution 2021-24 re: Declaratory Resolution for Market East Carmel allocation area Executive Director Mestetsky asked that the Commission approve the first step in creating the allocation area for the Market East Carmel project (Merchants Square). Secretary Brooks moved to approve, seconded by Vice President Bowers. Vote: Yes No Abstain/Recuse Bill Hammer X Dave Bowers X Bill Brooks X Adam Campagna Jeff Worrell X b. Action Item #2 – Resolution 2021-25 re: Proscenium TIF pledge amendment Executive Director Mestetsky asked that the Commission approve this amendment to the prior TIF pledge resolution to match the City Council approval to increase in the par amount of the bonds. Vice President Bowers moved to approve, seconded by Secretary Brooks. Vote: Yes No Abstain/Recuse Bill Hammer X Dave Bowers X Bill Brooks X Adam Campagna Jeff Worrell X CRC Meeting, November 17, 2021 3 c. Action Item #3 – Monon and Main loan refinance Executive Director Mestetsky asked that the Commission approve the refinancing of the Monon and Main loan which will save interest. Commissioner Worrell moved to approve, seconded by Secretary Brooks. Vote: Yes No Abstain/Recuse Bill Hammer X Dave Bowers X Bill Brooks X Adam Campagna Jeff Worrell X d. Action Item #4 – Purchase of 611 3rd Ave SW site Executive Director Mestetsky asked that the Commission approve the purchase of 611 3rd Ave SW, in the amount of $4,800,000. A previous offer of $4,625,000, constituting the average of two qualifying appraisals, was rejected by seller. Vice President Bowers moved to approve, seconded by Secretary Brooks. Vote: Yes No Abstain/Recuse Bill Hammer X Dave Bowers X Bill Brooks X Adam Campagna Jeff Worrell X Other Business None. Adjournment The Commission adjourned the meeting at 7:14 p.m. The next regularly scheduled meeting is Wednesday, December 15th, 2021, 6:30 p.m.