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Home My WebLink AboutCC-02-06-23-01 Approving 111 Penn Redevelopment Area Sponsor: Councilors Rider and Worrell RESOLUTION CC-02-06-23-01 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA APPROVING CERTAIN MATTERS IN CONNECTION WITH THE ESTABLISHMENT OF THE 111 PENN REDEVELOPMENT AREA (111th AND PENN) Synopsis: Resolution approves (1) a resolution of the Carmel Redevelopment Commission establishing the 111 Penn Redevelopment Area, including a redevelopment plan for the Redevelopment Area and (2) a related Carmel Plan Commission resolution. WHEREAS, the City of Carmel Redevelopment Commission (the “Redevelopment Commission”), as the governing body for the City of Carmel Redevelopment Department, pursuant to Indiana Code 36-7-14, as amended (the “Act), adopted its Resolution No. 2022-36 on December 15, 2022 (the “CRC Resolution”), which (1) made certain amendments to the previously established Integrated 126th Street Economic Development Area (the “Original Area”) and the Amended 126th Street Allocation Area (the “Original Allocation Area”) by removing an area from the Original Area and the Original Allocation Area, (2) designated such area removed from the Original Area and Original Allocation Area, known as the 111 Penn Redevelopment Area (the “Redevelopment Area”) as a separate redevelopment area pursuant to Sections 11, 12.2, and 15 of the Act, and (3) approved a redevelopment plan for the Redevelopment Area (the “Plan”); and WHEREAS, the City of Carmel Plan Commission, on January 17, 2023, approved and adopted its Resolution No. PC-01-17-23-c (the “Plan Commission Order”) determining that the CRC Resolution and the Plan conform to the plan of development for the City of Carmel, Indiana (the “City”), and approving the CRC Resolution and the Plan; and WHEREAS, pursuant to Section 16(b) of the Act, the Redevelopment Commission has submitted the CRC Resolution, the Plan and the Plan Commission Order to the Common Council of the City (the “Common Council”). NOW THEREFORE, BE IT RESOLVED by the Common Council of the City of Carmel, Indiana, as follows: 1. Pursuant to Section 16(b) of the Act, the Common Council determines that the CRC Resolution and the Plan conform to the plan of development for the City, and approves the CRC Resolution, the Plan, and the Plan Commission Order. 2. This Resolution shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor as required by law. DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC PASSED by the Common Council of the City of Carmel, this _____ day of _____________, 2023, by a vote of ______ ayes and _____ nays. COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA ___________________________________ Jeff Worrell, President Laura Campbell, Vice-President ___________________________________ ____________________________________ Kevin D. Rider Sue Finkam ___________________________________ ____________________________________ Tim Hannon Miles Nelson ___________________________________ ___________________________________ Tony Green Adam Aasen ___________________________________ Teresa Ayers ATTEST: __________________________________ Sue Wolfgang, Clerk Presented by me to the Mayor of the City of Carmel, Indiana this ____ day of _________________________ 2023, at _______ __.M. ____________________________________ Sue Wolfgang, Clerk Approved by me, Mayor of the City of Carmel, Indiana, this _____ day of ________________________ 2023, at _______ __.M. ____________________________________ James Brainard, Mayor ATTEST: ___________________________________ Sue Wolfgang, Clerk Prepared by: Bradley J. Bingham Barnes & Thornburg LLP 11 South Meridian Street Indianapolis, IN 46204 DMS 24799580v4 DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC Opposed 6th February 1 P 8th 8th February P 3:00 8 February 2:30 DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC REDEVELOPMENT PLAN PAGE 1 City of Carmel Redevelopment Commission Redevelopment Plan for the 111 Penn Redevelopment Area Dated: December 15, 2022 PURPOSE AND INTRODUCTION The City of Carmel Redevelopment Commission (the “Commission”), the governing body of the Department of Redevelopment and the Redevelopment District (the “District”) of City of Carmel, Indiana (the “City”), proposes to designate and declare a redevelopment development area within the City to be known as the “111 Penn Redevelopment Area” (the “Area”). This document is the plan for the Area (the “Plan”), provided that this Plan may be amended in the future as provided in Indiana Code 36-7-14, as amended from time to time (the “Act”) and in this Plan. Pursuant to Sections 15 and 16 of the Act, the Plan must be approved by the Commission, the City Plan Commission and the Common Council of the City. Upon such approvals, the Commission will hold a public hearing on the Plan as required under Section 17 of the Act, before confirming (or modifying and confirming) the designation of the Area and the approval of the Plan. PROJECT OBJECTIVES The purposes of the Plan are to benefit the public health and welfare of the citizens of the City; increase the economic well-being of the City and the State of Indiana; and serve to protect and increase property values in the City and the State of Indiana. The Plan is designed to (i) redevelop a certain area of the City, and (ii) provide for local public improvements in the Area. DESCRIPTION OF AREA A map identifying the parcels comprising the Area is attached to this Plan as Exhibit A hereto. DESCRIPTION OF PROJECTS In order to accomplish the Plan, the Commission currently estimates that it will proceed to carry out the design, acquisition, construction, installation, equipping and improvement projects in, serving or benefitting the Area which are necessary to facilitate the orderly development in the Area, including, but not limited to, select site improvements, storm water improvements, utility improvements and relocations, road and sidewalk improvements, and structured and surface parking to support mixed use development projects in or directly serving or benefitting the Area, and consisting of, but not limited to, multi-family units (expected to include workforce housing), attached townhomes, commercial space, public outdoor space, and public parking (collectively, the “Projects”). DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC REDEVELOPMENT PLAN PAGE 2 ESTIMATED COSTS OF THE PROJECTS Because the Commission does not intend to acquire any interests in real property for the Project at this time, the Commission will not incur any costs of acquisition. However, the Commission will incur certain costs in connection with the development of the Projects. The estimated cost of the Projects to the Commission is approximately $65,000,000. The Commission anticipates paying for such Projects with tax increment revenues derived from future allocation areas to be created within the Area or bonds or leases of the District payable from such tax increment revenues. ACQUISITION OF PROPERTY In connection with the accomplishment of the Plan, the Commission has no present plans to acquire any interests in real property. In the event the Commission determines to acquire any interests in real property in the future, it shall follow procedures set forth in Section 19 of the Act. The Commission may not exercise the power of eminent domain. DISPOSAL OF PROPERTY The Redevelopment Commission may dispose of any real property acquired in the future by sale or lease to the public pursuant to procedures set forth in Section 22 of the Act. STATUTORY FINDINGS OF FACT The Plan for the Area addresses the statutory requirements under Section 15 of the Act, as evidenced by the following findings of fact: 1. The Area is an area in need of redevelopment and the conditions described in IC 36-7-1-3 cannot be corrected by regulatory processes or the ordinary operations of private enterprise without resort to IC 36-7-14. The Area is impacted by a number of factors listed in IC 36-7-1-3, which create an area in which normal development and occupancy are undesirable. These factors, including a lack of development, cessation of growth and character of occupancy prevent development in the area and have made occupancy in the Area undesirable. The construction of improved infrastructure will pave the way for future growth and redevelopment in the Area. The existence of such conditions demonstrates the impossibility of redevelopment without resort to IC 36-7-14. 2. The public health and welfare will be benefited by accomplishment of the Plan for the Area. Implementation of the Plan will benefit the public health and welfare for the citizens of the City. The Projects described above will contribute to quality of life in the City by providing additional housing options as well as commercial space and public outdoor space and parking. DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC REDEVELOPMENT PLAN PAGE 3 3. The Area is a menace to the social and economic interest of the City and its inhabitants and it will be a public utility and benefit to redevelop the Area pursuant to IC 36-7-14. The lack of public infrastructure and cessation of growth in the Area makes the Area a menace to the social and economic interest of the City and its inhabitants. The Projects contemplated by the Plan will be of public utility and benefit by putting in place infrastructure and/or other incentives to support future redevelopment, and allowing for further development of the City. AMENDMENT OF THE PLAN This Plan may be amended by following the procedures described in Sections 15 - 17.5 of the Act. DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC EXHIBIT A EXHIBIT A MAP AND DESCRIPTION OF AREA Attached hereto is a map describing the parcels comprising the Area. PARCEL ID NUMBERS: 17-13-02-00-00-014.001 17-13-02-00-00-014.000 DMS 24456873.1 DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC EXHIBIT A DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC RESOLUTION NO. PC-01-17-23-c RESOLUTION OF THE CITY OF CARMEL PLAN COMMISSION APPROVING DECLARATORY RESOLUTION AND REDEVELOPMENT PLAN 111 PENN REDEVELOPMENT AREA) WHEREAS, the City of Carmel Plan Commission (the "Plan Commission") is the body charged with the duty of developing a general plan of development for the City of Carmel, Indiana the"City"); and WHEREAS, the City of Carmel Redevelopment Commission (the "Redevelopment Commission") on December 15, 2022, adopted Resolution No. 2022-36 (the "Declaratory Resolution") designating an area known as the 111 Penn Redevelopment Area (the Redevelopment Area")as a redevelopment area pursuant to IC 36-7-14(the"Act")and approving a redevelopment plan for the Redevelopment Area(the "Plan"); and WHEREAS, the Redevelopment Commission has submitted the Declaratory Resolution and the Plan to the Plan Commission for approval pursuant to the provisions of Section 16 of the Act; and WHEREAS, in determining the location and extent of the Redevelopment Area, the Plan Commission has determined that no residents of the City of Carmel will be displaced by the proposed development thereof; and WHEREAS, the Plan Commission has reviewed the Declaratory Resolution and the Plan and determined that they conform to the plan of development for the City, and now desires to approve the Declaratory Resolution and the Plan. NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CARMEL PLAN COMMISSION, THAT: 1. The Plan Commission hereby finds and determines that the Declaratory Resolution and the Plan for the Redevelopment Area conform to the plan of development for the City. 2. The Declaratory Resolution and the Plan for the Redevelopment Area are hereby approved. 3.This Resolution hereby constitutes the written order of the Plan Commission approving the Declaratory Resolution and the Plan for the Redevelopment Area pursuant to Section 16 of the Act. 4. The Secretary is hereby directed to file a copy of the Declaratory Resolution and the Plan for the Redevelopment Area with the minutes of this meeting. DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC SO RESOLVED BY THE CITY OF CARMEL PLAN COMMISSION this 17th day of January, 2023. CITY OF CARMEL PLAN COMMISSION President ATTEST: 1?‘C S etary DMS 24686763.1 2- DocuSign Envelope ID: A892083F-EB7E-4F98-91E5-0F487BDDACFC