HomeMy WebLinkAboutCC-04-15-24-01 Food Hall SPONSOR(S): Councilor(s) Aasen
This Resolution was prepared by Benjamin Legge, City Attorney, on April 9, 2024, at 1:30 p.m. No subsequent revision to
this Resolution has been reviewed by Mr. Legge for legal sufficiency or otherwise.
RESOLUTION CC 04-15-24-01
RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA IN
SUPPORT OF THE UNION AND MONON SQUARE SOUTH PROJECT
Synopsis: This resolution encourages requesting Outside Funding Sources for the Union project
and commits to fully evaluate and consider issuance of City Funding Sources if the Outside Funding
Sources are successfully secured.
WHEREAS, the City of Carmel (“City”) has used public-private partnerships to become
nationally recognized for creating a walkable, thoughtfully-planned central core over the course of the
last few decades, which includes such redevelopment districts as the Arts and Design District, Midtown,
and City Center; and
WHEREAS, the City has made major investments into the central core to make it desirable for
residents to live and spend time, companies to locate, and tourists to visit at all times of the year; and
WHEREAS, the City recognizes and supports a future Great American Songbook Museum
along the Monon Boulevard, intended to be located at the northwest corner of the City Center Drive and
Monon Boulevard intersection, specifically noting its additional small conference space to complement
the Center for the Preforming Arts and the Hotel Carmichael, among others; and
WHEREAS, the Carmel Redevelopment Commission has been exploring the concept of the
"Union," an indoor civic space that includes a food hall and additional event space to serve as another
anchor to Carmel's central core, intended to be located at the northwest corner of the City Center Drive
and Monon Boulevard intersection; and
WHEREAS, the Union would be part of a larger Monon Square South project that includes the
Union and an office component on the southwest quadrant of Monon Square (Exhibit A) and a district
parking garage and a multifamily component on the southeast quadrant of Monon Square (collectively,
the "Monon Square South Project"); and
WHEREAS, the Union and Monon Square South Project would only be possible by utilizing a
number of funding sources apart from traditional construction lending, both (i) within the control of the
City of Carmel, such as lease revenue bonds with SBT or LIT backup (the "City Funding Sources"),
and (ii) by way of grants from outside agencies, specifically from (a) the Indiana Economic
Development Corporation's Regional Economic Acceleration and Development Initiative (READI 2.0)
and (b) Hamilton County Tourism's BEST Investment Fund (collectively, the "Outside Funding
Sources"); and
WHEREAS, the Common Council believes the Union and the Monon Square South project will
serve as a further economic development and tourism catalyst for the City's central core and desires to
do all it can to bring it to fruition, and agrees to fully evaluate and consider the City Funding Sources
for the Union and Monon Square South Project upon the Outside Funding Sources being successfully
secured.
Resolution CC 04-15-24-01
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DocuSign Envelope ID: 953B5659-D9D6-4B94-8E76-CEE86A1A1493
SPONSOR(S): Councilor(s) Aasen
This Resolution was prepared by Benjamin Legge, City Attorney, on April 9, 2024, at 1:30 p.m. No subsequent revision to
this Resolution has been reviewed by Mr. Legge for legal sufficiency or otherwise.
NOW THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY
OF CARMEL, INDIANA AS FOLLOWS:
Section 1. The foregoing Recitals are incorporated herein by this reference.
Section 2. The Common Council agrees to fully evaluate and consider the City Funding
Sources for the Union and Monon Square South Project upon the Outside Funding Sources being
successfully secured.
Section 3. This Resolution shall take effect immediately upon its passage by the Council and
approval of the Mayor.
SO RESOLVED, by the Common Council of the City of Carmel, Indiana, this day of
____________, 2024, by a vote of _____ ayes and ____ nays.
COMMON COUNCIL FOR THE CITY OF CARMEL
Anthony Green, President Adam Aasen, Vice-President
Rich Taylor Matt Snyder
______________________________
Jeff Worrell Teresa Ayers
Shannon Minnaar Ryan Locke
______________________________
Anita Joshi
ATTEST:
______________________________
Jacob Quinn, Clerk
Presented by me to the Mayor of the City of Carmel, Indiana this day of
______________________ 2024, at _______ __.M.
Jacob Quinn, Clerk
Approved by me, Mayor of the City of Carmel, Indiana, this day of
______________________ 2024, at _______ __.M.
Sue Finkam, Mayor
ATTEST:
Jacob Quinn, Clerk
Resolution CC 04-15-24-01
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SPONSOR(S): Councilor(s) Aasen
This Resolution was prepared by Benjamin Legge, City Attorney, on April 9, 2024, at 1:30 p.m. No subsequent revision to
this Resolution has been reviewed by Mr. Legge for legal sufficiency or otherwise.
Exhibit A
DocuSign Envelope ID: 953B5659-D9D6-4B94-8E76-CEE86A1A1493