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HomeMy WebLinkAboutCRC-05-18-04 CRC Meeting, May t 8,2004 CARMEL REDEVELOPMENT COMMISSION Meeting"May 18, 2004 President Ed Burke called the meeting to order at 7:07 p.m. Corilmission members Ron Carter, Tim Marshall, Rick Sharp and Bob Battreall were present, constituting a quorum. A]so present were Mayor Brainard, Les Olds, Karl Haas, Bruce Donaldson, Loren Matthes, Tom Pitman, Bruce Cordingley, Steve Sturtz and Nathan Maudlin (Carmel resident near proposed Illinois Street). Phyllis Morrissey as support staff. Approval of Minutes Mr. Battreall moved for appro va] of April 20, 2004, minutes. Following a second by Mr. Carter, the motion was unanimously approved. Public Heariul!s Mr. Donaldson, Barnes & Thornburg, explained that.thehearingsare because the CRC is amending and expanding Economic De'veloplhent Areas and Allocation Areas. 7:09 p.m. Public Hearing opened for Resolution 16-2004 of City of Carmel 'Redevelopment Commission Confil'ming Resolution No. 4-2004 Amending and Expanding the'Integrated 126lh Street Con'idor Economic Development Area and Allocation Area. No one present to speak. Public Hearing closed at 7:09.5 p.m. Mr. Sharp moved for approval of Resolution ]6-2004. Following a se'cond by Mr. Battreall, the motion was unanimously approved. 7: I 0.5 p.m. Public Hearing opened for Resoltltion ] 7-2004 of City of Carmel Redeve]opment Commission Confirming Reso]ution No. 5-2004 Amending'and Expanding the Old Meridian Street Economic Development Area and Allocation Area. No one present to speak. Public Hearing closed at 7:11 p.m. Mr.Sharp moved for approval of Resolution 17-2004. Following a second by Mr. Battreall, the motion was unanimously approved. 7: 11.25 p.m. Public Hearing opened for Resolution] 8"2004 of City of Carmel Redevelopment Commission Confirming Reso]ution No. 6-2004 Amending and Expandingthe North Illinois Street Economic Development Area and Economic Area. No one present to speak. Public Hearing closed at 7:11.5 p.m. Mr, Sharp,moved for approval of Resolution 18"2004. Following,a second byMr. Marshall, the motion was unanimously approved. 7: 12 p.m. Public Hearing opened for Resolution 19-2004 of City of Carmel Redevelopment CommIssion Confirming Resolution No. 7-2Q04 Amending and Expanding the Plum CreeklI-Iazel Dell Parkway Economic Deve]opment Area and Creating Allocation Area. No one present to speak. Public Hearing closed at 7: 12.25 p.m. Mr. Sharp moved for approval of Resolution ]9-2004. Following a second by Mr. Marshall, the motion was unanimously approved. CRC Meeting, May 18. 2004 7: 12.5 p.m. Public Hearing opened for Resolution 20-2004 of City of Cannel Redevelopment Commission Confirming Resolution No. 8-2004 Amending and Expanding the 96th Streeli'Hazel Dell Parkway Economic Development Area and Creating Allocation Area. No one pres~nt t() speak. Public Hearing closed at 7: 12.75 p.m. Mr. Sharp moved for approval of Resolution 20-2004. Following a second by Mr. Battreall, the motion was unanimously approved. Tom Pitman, Baker & Daniels, presented Resolulion 21-2004, the Final Bond Resolution of the City of Carmel Redevelopment Commission Authorizing the Issuance of City oJ Carmcl RedevelopmentDistrict Tax Increment Revenue Bonds for the Purpose of Raising Money for Property Acquisition, Redevelopment and Economic Development in or Serving the Illinois Street Economic Development Area (in connection with the' Clarian project). Mr. Pitman stated there have been "a few truly technical amendments that have'been worked through in the last couple of days""He distributed copies with changes noted which, were suggested by the financial advisors. The changes will facilitate the marketing of the bonds. Mr. Marshall moved for approval of Resolution 21-2004. Following a second by Mr. Sharp, the motion was approved with four in favor, Mr. Battreall opposed. Public Hearing opened at 7:20 p.m. Concerning Appropriation of Proceeds (Including Investment Earnings Thereon) of the. City of Carmel Redevelopment District Tax Increment Revenue Bonds (Illinois Street Project). Mr. Pitman stated this is a state law requirement to have a public hearing about appropriations. No one present to speak. The Public Hearing was closed at 7:21 p.m. Resolution 22-2004 of the City of Cannel Redevelopment Commission Appropriating tlie Proceeds (Including Investment Earnings Thereon) of the City of Carmel Redevelopment DistrictTax Increment Revenue Bonds to be Applied to the Cost of Property Acquisition, Redevelopment and Economic Developmentin or Serving the Illinois Street Economic Development Area. Mr. Sharp moved for approval of Resolution 22-2004. Following a second by Mr. Battreall, the motion was unanimously approved. Mr. Haas stated there were some changes which needed to be made to Resolution 23- 2004. Mr. Haas recommended the Commission make a motion authorizing the President of the CRC to sign the document once the legal'aspects are approved by Mr. Haas and the public works staff are satisfied'with the technical (infrastlUcture) amendments. Mr. Haas said a written resolution was not needed; an oral resolution would be all that was necessary. Mr. Sharp moved the CRC authorize the president, vice president or secretary to execute the first Amendment to the Economic Development Agreement, Exhibit A, at such time tliat counsel for the CRC is satisfied as to the legal technicalities of the am'endment and the City Engineer is satisfied as to the technical infrastructure and legal description 2 CRC Meeting. May 18.2004 changes as proposed. Following asecondby Mr. Marshall, the motion was unanimously approved. . Presentation on Parcel #5 Bruce Cordingley, President of Pedcor, gave some background 'on his company and then explained the concept of'their proposal with combined retail, residential (apartments), and possibiya hotel for Parcel #5. Mr. Cordingley said parking would all be in Slructures or underground. Service functions would be hidden from view. It is all very pedestrian and bicycle friendly. There is approxi'11ately 100,000 square feet ofretail, 204 large apm1ments, and the proposed hotel with five floors, 25c30 rooms per floor. Mr. Sturtz, the architect, then showed the'site plan and several drawings and explained the traffic nows and various parking areas. Discussion followed with question and answer period. Costs have not been determined at this point. Mr. Cordingly requested 60-90 days to work on the' figures, asking the CRC to deal with them exclusively during this time. After further discussion, Mr. Battreall moved the CRC give Mr. Cordingley ninety days of negotiating time. Following a second by Mr. Carter, the motion was unanimously approved. Mr. aIds and Mr. Haas will work with them on the numbers. Mr. Carter reminded them to think about ho\v the bicycles get to the area. Are there bikeways or bike lanes? Financial Matters Mr. Marshall stated he had reviewed the packet of information from Ramco. Mr. M~rshall moved Ramco Gershenson Properties Trust be substituted for Lindner as the new owner of Merchants Square. Following a second by Mr. Sharp, the motion was unanimously approved. Mr. aids reported the May 1,2004, balance was $1,565,939. Bond proceeds are . $5,573.205. . Invoices in.the amount of $120,623.44 were submitted for payment. Mr. Marshall moved for approval of the invoices. Following.a second by Mr. Carter, the motion was unanimously approved. Update on Properties Parcel #2. Pedcor Mr. aIds reported projects are all underway and we will start to see construction reports on the various projects. Mr. Sharp asked about the mechanical units on top of the buildings. Mr. aIds said the screening will be corrected. 3 CRC Meeting, May 18, 2004 Parcel #4, First Indiana Mr. aIds reported this is moving forward, There will be a meeting with representatives from First Indiana on Wednesday, to "establish the rules", Parcel #5, Goodyear Phase TI'[environmental] is underway, Estimate is $13,000, Parcel #5, Village Cleaners We have received a letter from Indiana DepartIilent of Environmental Management stating no further action is required on this site, Wells should be "pennanently abandoned by a licensed Indian'a water well driller", Parcel #7~ Amphitheater and Performing: Arts Center On hold, Mr, aIds reported he is in the process of retaining an engineer to provide the stormwater.analysis for the entire Parcel #5 and #7 and also the stormwater isslles in conjunction with the Monon Trail and its culverts, Steel bridge to the Monon is, yet to be built because of the other construction, This bridge is part of Shapiro's project Parcel #8, AMLI Old Town _ Contractor is working to complete streetscape work, AMLI has a couple of constmction problems which will be corrected, The handrail has been installed at Muldoon's, Parcel #9, Chris Reid's building Contractor has started the project City Engineer is concerned that there is no stormwater detention onsite, Mr. aIds reminded him that it is less than a half acre and if there's a problem, they could mn a pipe from the parking lotto the adjacent wetlands to help recharge the'water. Parcel #10, Shapiro's Phase II Site will soon be ready for final inspection, CRC'is'eager for the final building to begin constmction, Mr: Haas ,will check thc project agreement to see what the requirements were, Ragstar Bank is scheduled to open inJune, 'It was noted there has,still been no further contact regarding their signs, Mr, Sharp reminded them earlier that approval of signs takes some time, Parcel # II Mark Boyce has requested a 90 day due diligence on the site so he can begin studies with his architect There has been no other interest in this site, Mr. Battreall moved the CRC grant Mr. Boyce the 90 days, Following a second by Mr. Marshall, the motion was unanimously approved, Parcel #12, O'Maliaproperty Anticipated closing for this property is June, CRC has authorized Mr. aIds to take bids on demolishing the building, He has talked with the Fire Department about using it for 4 CRC Meeting. Mny 18. 201)4 practice prior to demolition. (Mr. Olds has made a commitment to the Fire Department that before we demolish any buildings, they would be offered the site for training.) When the O'Malia's building is demolished, the surface parking out in front would be left in place to allow a staging area for future construction. Johnny Java, the coffee kiosk, will remain on a month-to-month basis and send $500 monthly to the CRC once we take possession of the building. PavlessLiquors Mr. Olds recommended Mr. Haas contact the owner of Payless Liquors. about obtaining the east half of their parking area for immediate development. Amoco We will be moving forward with purchasing the Amoco property. Discussion followed about Parcel #12. Several parties have indicated an interest. Parcel # 13 Mr. Olds has the preliminary packet with design, floor plans, information which would allow a developer to come up with a cost. He and Mr.. Haas have developed a non- binding letter ofintent. Two parties have received this along with the info packets in response to inquiries. Mr. Olds has also met with Marshall Andich, the current property owner. Mr. Olds stated a "developer package" needs to be put together listing what the CRC would do in terms of infrastructure and the letters of intent to purchase would be given to the developer. Old Business Arts District Gatewavs Mr. Olds asked for responses on the gateways. Estimated cost is $225,000 to $250,000 for the first one. General consensus was not to proceed at this time. Old Town Renovation Grants A number of people have picked up the application. None have been returned at this time. A press release went out today and the Mayor will announce it at a luncheon meeting soon. Reflecting Pool Fountain spray heads have been ordered. Mr. Olds was not sure they have been received. Third Avenue/City Center Drive Streetscape, AliundeI' way and coordinated between contractors and adjacent property owners. 5 CRe Meeting. May 18,2004 Other Matters, Mr. Carteraskedfordarificatibil on,Patcel #5 with Skinneriaild Broadbent. Discussion - ........ ,..... .. "" -.. .... -, followed. It.was decided,that when we meet With them, we will try 'to get their averall e~pectationsi A,t m,<sahie time, the C;RC is trying tl) defell11ine,lhe infrastructure' need's. Having the.90 day,eiclusive,yvith ,Cordingley daes not prevent the eRC from talking w'ith anatherdevelaper. There.is also tne,possilJility thatthdwa.differentdeve1cipefs might "join forces". New' .Business Mr, C;'lftei',suggcst<;d'thef11asfer plan maps.oe'kept,by Mrs. M.orrissey and broughl'lO each meeting, rather thall send hew .ones 'aut each rrlantn" .Mr. Sha,rp saJd a,CityCauhcil member:whi\sitSI:m t,he, Plan C,otnrriis?iol1,'ha~asked the CRe to considepmaving its'meetingdate,because of the confljct'since'the'two meet on the same night. Declim,cj., .NexfMe'etinl!. IlIesday"lune '15, 2004 Adinurmnent Motipri wasimide,:secQhdedaIidilppro.vecl f6radjournment at,8:45 [lITI. 6