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HomeMy WebLinkAboutCRC-12-19-06 CRC December 19,2006, Minutes CARMEL REDEVELOPMENT COMMISSION Meeting, Tuesday, December 19, 2006 The meeting was.called.to order by President Ron Carter at 7: 10 p.m. Commission members Carolyn Anker, William Hammer and Rick Sharp were present, constituting a quorum. [Jeff Worrell, absent.] Also present were Mayor Brainard, Les aids, Karl Haas, Sherry Mielke, Darrell Norris, Bruce Donaldson, Loren Matthes, Jeff Meyerose, Kevin Sellers and Bill Ruthhart. Phyllis Morrissey as support staff. Approval of Minutes Ms. Anker moved for approval of the December 8, 2006, special meeting minutes. Seconded by Mr. Hammer and unanimously approved. Bid Opening One bid was received for the constmction of the underground garage on Parcel 12, Phase 1 from Signature Construction for $1,185,000.00. The bid will be reviewed for conformance anda recommendation will bemade at the next CRC meeting, Resolution 19-2006 City of Carmel Redevelopment Commission Authorizing the Issuance'of Golf Course Revenue Bonds for the Purpose of Providing Funds to Pay for the Acquisition of the Brookshire Golf Club and Incidental Expenses in Connection Therewith and on Account of the Issuance of the Bonds Following a brief discussion about the bond rates, Mr. Carter read from the resolution, "The bonds as to both principal and interest shall be solely payable from and secured by an irrevocable pledge of the net revenues (gross revenues after deduction only for the payment of the reasonable expenses of operation, repair and maintenance) derived from the operation of the golf course facility comprising the Project..." And from the following paragraph, "The Bonds are not a general obligation of the City of the District." Mr. Carter said he wanted to make sure that was pointed out. Mr. Sharp moved for approval of Resolution 19-2006. Seconded by Mr. Hammer and unanimously approved, Public Hearing Resolution 20-2006 of the Cityof Carmel Redevelopment Commission Approving an Amendment to the Integrated Economic Development Plan for the Old Town Economic Development Area [National City and Gunstra properties]. The public hearing was opened at 7: 13 p.m. Mr. Carter asked if there was anyone present who wanted to speak for or against Resolution 20-2006. No one came forward. The public hearing was closed at 7: 14 p.m. CRC December 19.2006. Minutes It was explained that the amendment adds two properties to the allocation area, allowing the improvements to be captured as tax increment. Mr. Sharp moved for approval of Resolution 20-2006. Following a'secondbyMr. Hammer, the motion was unanimously approved. Public Hearine Resolution 21-2006 of the City of Carmel Redevelopment Commission Approving an Amendment to the Declaratory Resolution and the Amended Redevelopment Plan for the City Center Redevelopment Area [Old Town Shoppes] The public hearing was opened at 7: 18. There was no one present to speak for or against the.resolution. The public hearing was closed at 7: 19 p.m. This area is based on the status of the parcel as of March I, 2006. Mr. Hammer moved for approval of Resolution 21-2006. Seconded by Ms. Anker and unanimously approved. Rellort from ArchitectslEneineers Nothing 'additional to report. Update on Properties Mr. OIds stated there will be between 800 and 1000 pilings in the first phase of Parcel 5. That depends on each pile going in and being tested. Mr. aids reported there are purchasers very interested in Ihe condominium properties on Parcel 21. On Parcel 25, the signage has yet to be added and there will also be a small median added to direct exiting- traffic to turn right. A separate electrical contractor will be hired by the City to look at the Rotary clock and also some of-the lighting at Veterans' Plaza to see if the problems can be solved. Financial Matters Ms. Mielke reported the. November end of month fund balance was$1 ,628,351. Over $200,000 was saved by the refinancing of the bonds. The financial.report as distributed is up-to-date reflecting DecemberinvoiGes recently received. Invoices Ms. Mielke requested an add-on for a Barnes & Thornburg invoice in the amount of $43,095.74. This would come out of bond issuance funds. If this is approved, our bond issuance costs would total $89,595.74. Mayor Brainard noted the $250,000+ savings was after the costs were taken out. Total invoices submitted for approval is $1,356,039.60 of which $89;595.74 would be bond issuance. The net from the CRC general fund would be 2 CRC December 19,2006, Minutes $1,266,443.86. Mr. Hammer moved for approval to add the Barnes & Thornburg invoice to the overall invoice total. Seconded by Ms. Anker and unanimously approved. Mr. Hammer moved for approval of the total invoices,. including the Barnes & Thornburg invoice for a total of $1,356,039.60. Seconded by Mr. Sharp. Ms. Anker asked for clarification of an item on an Umbaugh invoice. Ms. Mielke reported that,partieular portion of the invoice would be billed separately and be paid from the PAC funds. Ms. Mielke reported the cooperative advertising with the Arts & Design District merchants has been very successful. Call for the question. The motion was unanimously approved. PAC Disbursement Ms. Mielke requested approval for PAC Disbursement from the construction fund in the amount of$259,984,50, which includes the Umbaugh invoice questioned earlier. It was noted that Umbaugh provides advisory services on the investments. Ms. Ankermoved for approval of the disbursement of the funds in the amount of $259,984.50. Seconded by Mr. Hammer and unanimously approved. Ms. Mielke distributed a draft of the five year forecast for the CRC general fund. She asked the CRC members to review it and call her with questions. A finalized version will be brought back to the CRC next month. Mr. Olds noted he would also answer any questions. Old Town Arts & Des!!!n District Renovation Grants Mr. Olds reported Mr. Haney is attempting to draft an insurance program [for the parking issue] as requested,by the merchants, Discussion followed. Mr. Olds reported parking signs will be installed beginning in January. The surface lot west of Tuesday morning will also be designated for public parking. Mr. Carter asked Ms. Mielke to do a census to determine how many merchants and their employees work in. the Arts & Design District. If these people were required to park in the Lions Club lot, this would free up many prime parldngspaces. Mr. Olds noted they are trying to get all the workmen to park there also. It was suggested that parking in the Lions Club lot be added as a requirement to the grants. Other Matters In response to a question about the north gateway, Mr. Olds reported will return to the CRC with a request that the bids be rejected due to winter conditions. He will rebid the project at a later date, noting there is still some work to be done to get the property needed. Mr. Hammer thanked Ms. Mielke and,Ms. Stumpf for all their extra efforts on the Holiday in the District. The other CRC members echoed his sentiments. 3 CRC December 19.2006. Minutes New Business Nothing to report Next Meeting will be Friday, December 22,8:15 a.m. The next regular meeting will be Tuesday, January 16,2007. Mr. Carter thanked Ms. Mielke, Mr. Olds, Ms. Stumpf and Ms. Morrissey for all their help during the past year. Adiournment Mr. Sharp moved the meeting be adjourned. Seconded by Ms. Anker and unanimously approved. The meeting was adjourned at:7:55 p.m. Z:\rcdevcomm\2006\Dcc 19 Minutes 4