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Home My WebLink AboutCRC-04-20-04 CRC Meeting, April 20, 2004 CARMEL REDEVELOPMENT COMMISSION Meeting, April 20, 2004 Vice President Ron Carter called the meeting to order at 7: 15 p.m. Tim Marshall and Bob Battreall, commission members, werc also present, constituting a quorum. Also present were Les Olds, Karl Haas, Sherry Mielke. Phyllis Morrissey as support staff. Approval of Minutes Mr. Marshall moved for approval of the March.23, 2004, minutes. Following a second by Mr. Battreall, the motion was unanimously approved. . Financial Matters Mr. Marshall, after studying the proposals, approved the draw down BAN as the acceptable proposal. Cash Flow Report Ms. Mielke rep0l1ed the balance as of April 1 was $1,813,250.00. The 2003 BAN proceeds are $2,698,020.00. The estimated draw down is included in the amount of $2,900,000.00. Total resources available from BANs are estimated at $5,573,205.00. The' construction budget is now being paid for by the BAN s. Next month the budget will be reformatted to refle~t Parcel numbers, per guidelines from the State Board of Accounts. Mr. Olds pointed out that, for example, city built roads are now Parcel # 15. Discussion followed. Invoices Mr. Battreall asked why money was still being spent on the amphitheater. Mr. Olds.said what had been done so far was sent to Artec. They were asked to incorporate lhe amphitheater in the operations for perfomling arts and the rest of the project. All work on the amphitheater has been stopped at this point and sent on the Artec. Brief discussion followed about Rotary's paiticipation in the funding. Invoices were submitted totaling $126,711.56. There being no further questions, Nlr. Battreall moved for approval. Following a second by Mr. Marshall, the motion was unanimously approved. Budget for the Year Budget will be evaluated at the end of April. Short Term Financing Nothing to report. CRC Meeting, April 20, 2004 Update on Properties Parcel # I, nothing tOTeport Parcel # 2, Pedcor, Phase II, closed and funded. Pedcor has started construction on third building, Mr. Olds will report back to them the CRC's position on the street pavers, The third building will house the restaurant. Pedcor has indicated an interest in the liquor license. Mr. Olds has asked them to make a formal submittal based on a restaurant corporation letter to the Commission asking for the right to purchase the license. However, Mr. Olds said, according to the attorney, we are going to have to advertise the liquor license, so RFPs [for a first class restaurant] will be written. The cost will be what we paid for it including any fees incurred. Parcel #2, Kosene, the first two story townhouse building is up and framed. They hope to have the first building available for prospective purchasers in summer of this year. Veterans' Plaza Planning on Gilliatte starting work May I. CRC will get a letter from CCVMC for their share of the sculpture base which is $18,000. A meeting was held with Gerry Kosene about the restroom construction and he has given right-of-eritry to our contractors to move equipment on their property to start the restroom construction. Parcel # 3, no activity. Parcel #4, First Indiana Bank proposal was sent in packages. Discussion followed about curb cuts (which are granted by Board. of Public Works), traffic patterns, and environmental reports on their building in Old Town. Mr. Haas recommended First Indiana be sent a favorable response stating we will be moving forward with a project agreement'and that they should.move forward with their design and one of the con'ditions of closing would be the property in Old Town area passing the environmental tests. Mr. Marshall moved the CRC approve the First Indiana proposal, subject to working out a project agreement, plans, and approval of the traffic pattern and curb cuts. Following a second by Mr. Battreall, the motion was unanimously approved. Parcel #5, Goodyear, Mr. Haas said there is an interim settlement agreement distributed for review consistent with what was approved at the last meeting. It will be presented to Goodyear.by their attorney. Huffer's counsel said they were considering it. SESCO did an environmental for Goodyear and came back and recommended a Phase II be done. (They also did an' environmental on O'Malia's, but found no problems there.) Parcel #6, no activity. Parcell?, Amphitheater. [See statements in "Invoi(;cs".] 2 CRC Meeting, April 20. 2004 Parcel #7, Performing Arts Center Mayor Brainard reported he recently met with Artec in New York City. The feasibility study is almost completed. Pro forma. "We know this building will not break even. We will have to make up the difference in general tax revenues." Mayor Brainard said the numbers are still being refined. Mayor Brainard met with bond insurers in New York and later with the Moody people here. The community has an excellent rating, either AA or even AAA. Mayor Brainard said all due speed is important on this project [given the present interest rates]. Artec said Indianapolis has several versatile halls, good for drama, opera, Broadway musicals, dance, except they're not really good for anything. We've built all these halls' that are mediocre. What they are suggesting and what I have thought all along is that the main hall needs to be really good for music. We don't want to compromise on that because there is a whole realm of world class acts that won't come to the Indianapolis region because they don't want to perform in one of our existing halls. If we built another' mediocre hall, it could be built for $35,000,000 to $40,000,000, but it would not stand out. We need to build a hall thilt stands out from the others to get those acts and have the ability to have a lot more revenue in the future. . Mr. Battreall asked what 'sort of annual shortfall might be expected on the operating expenses. Mayor Brainard .thought it would be around $300,000, noting this is where an endowment fund could come in. One of the things Artec is.recommending is to put the seating on elevators, so the floor can be raised' and lowered to one level for non-musical events, such as dinners or small conventions. Mayor Bniinardis hoping to have the complete infomlation in the next two weeks. The number of seats in the mail halhviIl be 1600 and 700 inthe secondary hall. Discussion followed about the funding available via TIF funds and future growth and what could'possibly be included in any bond. Mr. Carter said if there's any thought that Rotary is not going to continue to playa part in this [amphitheater] or that it's going to go a lot longer, we need to deal with ,that now. Naming rights were discussed. Discussion continued about the performing arts center and related components. Mayor Brainard pointed out that none of the Clarian TIF money, which will be used to build nIinois Street, or any of the private TlFs wereincluded in the funding calculations for the performing arts center bond. 3 CRCMeeting, April'20, 2004 Parce]'#13 [Taken.outoforderJ M(HaaLstated onParc.el #H,Jesolutions Ile~ded. to be passed.to acquire lots. I, 2, 3, 6 and 7, for'theaverage oftheirappraisal values,So,moved by rvh, l3attreall.:Followi.ng a sccono,by Mr. Marshall, the moti(Jn was:unanimcmsly approved, ParceL#s"AMLI Old Town Mr. Qlds.rep,Orted ,Ciipeis wotkiri~L with the.contractor to schedule.streetscape'wol'k. It shoulct.becompieted forty-fivedays..r;'om the'projected.startdate'Ofn~xt Monc[ay lApnl 26]. Additipnal wQrk will beaone'on:asnlaHstiip"thar\\'a~ riot'included. Mr" Oli:lswill get backto,theCRO\vith details and cost forthispart. Mr.Cavter asked if t!i~re wouldbe:any designc:tianges'. It was noted there are some elevationchanges\\'hiclrneed'tohe addressed,to make)t safedor pe:destnans., Parcel #9. ReicFs'Office.Builaing ChlisReid'wi !I.be meeting with BPW on April 2.1. Vpon)jJciT appr6v~.', co.ri~~r\lctibn work wiU star(ll!J: later th~n Mlly I.. Mayor.BrainMd said the other bidder on that parcel . .'. . " . ',.. '.;, was still interested:ifMr. Reid wasn't.going.to do anything. Pilreel#IO, Shari/ro's Phasell Construction Site workwill be;completed no.laterthan May J. Th<:. lastol,ltstanding il~l,lis on tl1~t. . project wece~he.sidewgtlk which.rlU1.Sfr'om Veteran's Way.overto the Monon Trail and the pre-fab bridge to connectthe Monon Trail to thesidewalk,CRGpays for the,.briClge. Parcel #] 0, Flagst<lr Bank Ric;k.Sharp niet'with.iI1i:!ividuals from.Flagstar abo.ut the signage. NoresubmittaJ has been receiye&aHhis time. They'areschedllled toop~nsoon. Baree! #Jl Mark Boye,e andhi~ archi\ecLare,taking a look 'atthe site and coniing.up with a design to reflectre.tail with housing on top. They'are very Interested in;thesite...Mr. Oldslo.li:l'thcm to come to the Commission witl1theproposal..H,enot"d the Commissi,onlieeds to e~tablis.hth.e value'()f thatgi'ound. He.saiCltareally make the projeclwork,.a 30 foot.strip afland. would need tohe purchased..from Mohawk Plaza. Di~cussions have:been.lield with the Mohawk Plaza attorney '(."",lip-also 9V,inS h51lfof'the Plaza) about.j'e-zoning the Plaza'to b'e included iIi City.CeJiterzoning. GOl1sensus was favorable.from the . -'~. - -- . -,," " ~', ,. '- -; Commission. Brief discussionfoilowed. P,lrcel#12,O'Ma!ia'.s Phase I environmental wCjs'completed'on the O'Ma]ia .propyrfy. 1'fo eviilenee of contan,li],~tion was;i:let~cted.\Vlr. Olds aske(LifJOliee.thepurehasds.complete~( dill. the COhini.ission want the.buillfing demolishedirightlaway.Cons'cllsus was'f~v6ral:>le. Mr. Battreallmoved fOFapProyal;ofK1r: Old~ g~tting bigs.to del)lOlisb 0'Malia:sBakeI'Y Quilding;and the G6qdyear b~lilding. .Following aseeond'by.Mr. Marshall, the,motion .was unanimously approved. 4 CRC Meeting, April 20, 2004 The owner of the coffee stand in front of O'Malia's has asked if he can stay there on a month to month basis while looking for a new site (paying rent to the CRC) until the CRC actually needs the. property. Approved. Old Business Arts & Design Area Mayor Brainard reported the City has filed a suit for trespass against Cinergy. Cinergy stated falsely that they owned property in Old Town. .He said if we. find out they are trespassing on Redevelopment property also, that should be added to the suit. Mr. Battreall moved the CRC be added to the suit against Cinergy if they are found to be trespassing on CRC property. Following a second by Mr. Marshall, the motion was unanimously approved. Various problems with Cinergy were discussed. Surveys are being done and cost estimates requested for the four archways. Discussion about AMLI's retail rental followed. AMLT wants retailers who will be amenities to those renting the apartments above. It was noted there has been a lot of interest in the Old Town proposal for the arts area. Old Town Renovation Grants Forms are ready for applicants. Mr. aIds will advertise the grant availability. Reflecting Pool .Mr. aids: City staff, CSO Engineers, pool equipmentsuppliers, met last week and reviewed the entire project, including. the warranty items. A report is being issued on all aspects which have to be done, improved, modified, and will be cOlTected. There is still an issue on the paint which needs to be resolved and may result in an extended warranty on the paint portion of the pool. The pool is being filled. The pool company contractor is sending two new nozzles for the main fountain. We believe this will solve all the problems. Mr. Carter said the radio controlled boat regatta will be atthe pool again July 10.11. This is being advertised around the country. Third A venue Streetscape All underway by May 1st, Existing Site for the City Mr. aIds: We've added the existing city site of the Street Department as Parcel #14. This has been done because it's a valuable property right on the Monon Trail. Several people have expressed interest in buying the two existing buildings west of the property and con vetting them into housing. Decision needs to be made whether to purchase this parcel from the City and put it under the CRC control. After a brief discussion it was decided this decision will be postponed for the time being. 5 CRC Meeting, April 20, 2004 New Business Breaking News Discussion followed about the Barbizon Arts Museum, Mr. Carter noted he was recently at Bub's in Old Town and was impressed by the vitality of the area and how busy it was, Mr. Olds distributed a copy of an article about Old Town which recently appeared in Indianapolis MOlllhlymagazine. Adiournment Mr. Batlreall moved for adjournment. Seconded by Mr. Marshall and unanimously approved. Adjourned at 9 p.m. 6