HomeMy WebLinkAboutCRC-25-2004RESOLUTION NO. 25-2004
RESOLUTION OF THE CITY OF CARMEL REDEVELOPMENT COMMISSION
DECLARING AN OFFICIAL INTENT TO REIMBURSE EXPENDITURES
WHEREAS, the Cityof Carmel Redevelopment Commission (the "Commission's and/or the
City of Carmel (the "City") intend to make certain expenditures for the redevelopment projects listed
in Exhibit A hereto in or serving the City of Carmel Redevelopment District (the "District'), whose
boundaries are coterminous with the City (such expenditures, the "Expenditures"); and
WHEREAS, the Commission reasonably expects to reimburse all or a portion of the
Expenditures with proceeds of bonds of the District; in the maximum principal amount of Two
Million Nine Hundred Ninety-Five Thousand Dollars ($2,995,000) (the "Bonds"), to be issued for
the purpose of financing the Expenditures; and
WHEREAS, the Commission desires to establish its intent, pursuant to Treas. Reg. §1.150-2
and IC 5-1-14-6(c), that said Expenditures are to be reimbursed from the proceeds of the Bonds.
NOW, THEREFORE, BE IT RESOLVED by the City of Cannel Redevelopment
Commission, governing body of City of Carmel Redevelopment District, that the Commission
hereby declares its intent to reimburse the Expenditures with proceeds of the Bonds.
Dated this 17th day of August, 2004.
CITY OF CARMEL REDEVELOPMENT
COMMISSION
rXiloujo .
President
Vice President
Secretary
U& - I
Member
Member
1
Exhibit A
1. Streetscape 2004 - Improvement of Third Avenue and. City Center Drive to include
sidewalks, street lighting, landscape, curb relocation, irrigation and architectural screen
walls. $500,000
2. Construction of restrooms by the reflecting.pool $310;000
3. Construction of the Veterans Memorial Plaza $790,000
4. Walkways from Shapiro's site to Monon Trail $ 35,000
5. Demolition of O'Malia's Bakery building and Goodyear building $200,000
6. Streetscape/Demolition and Road Construction for Parcel #13 $200,000
7. Miscellaneous environmental cleanup $300,000
Total $2,335,000
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