HomeMy WebLinkAboutResolution BPW 09-06-23-05/CRC/$53,702/PRIF - 111 S Rangeline Road TownhomesRESOLUTION NO. BPW 09-06-23-05
A RESOLUTION REQUESTING THE FIN ANCING, CONST RUCTION, AND
DEDIC ATION OF CERT AIN INF RAST RUCT URE OR OTHER IMPACT ZONE
IMPROV EMENTS IN LIEU OF AND AS A CREDIT AGAINST THE PAYMENT OF
PA RKS AND REC RE ATION IMP ACT FEES {"PRIF") AND APPROVING A PRIF
CREDIT AGREEMENT
WHEREAS, Indiana Code 3 6-7-4-133 5 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 Clay Township, Indiana and over which the City of
Carmel, Indiana ("City") exercises planning and zoning jurisdiction; and,
WHEREAS, City of Carmel Unified Development Ordinance § l .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, the Board now desires to request that Old Town North, LLC, an Indiana Limited
Liability Company ("Old Town"), 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 Fifty-Three Thousand, Seven Hundred Two Dollars ($53,702.00); and,
WHEREAS, Old Town shall execute and return to the Board the Credit Agreement set forth on
attached Exhibit A, 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 B, the same being
incorporated herein by this reference; and,
NO W, THE REFO RE, BE IT RESO LVED 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 Old Town North, LLC 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 $53,702.00, 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 A.
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 entire credited amount of PRIF into City Fund #902. These funds shall be
drawn upon to finance the construction of Parks and Recreation infrastructure and improvements that meet
the requirements oflndiana Code § 36-7-4-1335(a).
DocuSign Envelope ID: DA9405C4-9096-4B13-9820-7F661D54709D
DocuSign Envelope ID: DA9405C4-9096-4B13-9820-7F661D54709D
September
9/6/2023
6th
9/6/2023
9/6/2023
9/6/2023
EXHIBIT A
PRIF CREDIT AGREEMENT
COMES NOW, Old Town North, LLC, an Indiana Limited Liability Company ("Old Town"), by its
undersigned, duly authorized agent, and states as follows:
Old Town hereby agrees to contribute $53,702.00 toward the construction of 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 $53,702.00.
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 -:2'-( day of /4,,�v � , 2023.
Old Town North, LLC
Printed Name
DocuSign Envelope ID: DA9405C4-9096-4B13-9820-7F661D54709D
•Townhomes are outlined in red.
EXHIBITB
1st STREIT SE
(§ §}
(0 Al oc=:::::ID
I �1 �· !I,. I I I I I I I I
DocuSign Envelope ID: DA9405C4-9096-4B13-9820-7F661D54709D