HomeMy WebLinkAboutResolution BPW 11-15-23-04/CRC/PRIF Agreement/KRG Hamilton Crossing, LLC - Hamilton CrossingDocuSign Envelope ID: 9ABDFF44-7310-441C-B0ED-04E49A77298E
RESOLUTION NO. BPW 11-15-23-04
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 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 § 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, the Board now desires to request that KRG Hamilton Crossing, LLC, an Indiana
limited liability company ("KRG"), 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 Four Thousand Eight Hundred Eighty Two Dollars ($4,882.00) per unit; and,
WHEREAS, KRG 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,
NOW, THEREFORE, BE IT RESOLVED 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 KRG Hamilton Crossing, 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 Four Thousand Eight Hundred Eighty
Two Dollars ($4,882.00) per unit, 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 of Indiana Code§ 36-7-4-1335(a).
DocuSign Envelope ID: 3C2AC1A0-352E-4C87-8ACB-016FB5EE24A8
SO RESOLVED.
Approved and adopted this ________ day of __________________, 2023.
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: 9ABDFF44-7310-441C-B0ED-04E49A77298EDocuSign Envelope ID: 3C2AC1A0-352E-4C87-8ACB-016FB5EE24A8
12/6/2023
12/6/2023
6th
12/6/2023
12/6/2023
December
EXHIBIT A
PRIF CREDIT AGREEMENT
COMES NOW KRG Hamilton Crossing, LLC, an Indiana limited liability company (“KRG”), by its
undersigned, duly authorized agent, and states as follows:
KRG hereby agrees to contribute Four Thousand Eight Hundred Eighty-Two Dollars ($4,882.00)
per unit 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 Four Thousand Eight Hundred Eighty-Two Dollars ($4,882.00) per unit.
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 _________________, 2023.
KRG Hamilton Crossing, LLC
By:
____________________________________
Authorized Signature
____________________________________
Printed Name
____________________________________
Title
17th November
Mark S. Jenkins
Sr. Vice President, Development
DocuSign Envelope ID: 9ABDFF44-7310-441C-B0ED-04E49A77298EDocuSign Envelope ID: 3C2AC1A0-352E-4C87-8ACB-016FB5EE24A8
Exhibit B:
Aerial Location Map
DocuSign Envelope ID: 9ABDFF44-7310-441C-B0ED-04E49A77298EDocuSign Envelope ID: 3C2AC1A0-352E-4C87-8ACB-016FB5EE24A8
Exhibit B:
Hamilton Crossing Massing
DocuSign Envelope ID: 9ABDFF44-7310-441C-B0ED-04E49A77298EDocuSign Envelope ID: 3C2AC1A0-352E-4C87-8ACB-016FB5EE24A8