HomeMy WebLinkAboutCRC-24-2004
CITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO. 24-2004
WHEREAS, The City of Carmel Redevelopment Commission ("CRC') has acquired
redevelopment project sites in Carmel, Indiana, that are: (a) depicted on Exhibit A, attached hereto; and
(b) identified as City Center Parcels No: 5B and 5C (the "Project Sites");
WHEREAS, CRC desires to promote and facilitate redevelopment of the Project Sites as a
complex of office buildings with on-site parking garages (the "Redevelopment Project');
WHEREAS, the office buildings that are part of the Redevelopment Project will need to be
coordinated with the residential, retail, and hotel buildings that are planned for construction on City Center
Parcel No. 5A (the "Mixed-Use Project");
WHEREAS, the parking garages that are part of the Redevelopment Project will need to be
integrated with the parking garages that are planned for construction on City Center Parcel No., 5A (the
"Parcel No. 5A Parking Garages"), so that the parking garages on Parcels No. 5B and 5C can serve both the
Mixed-Use Project and the Performing Arts Center that is planned for construction on City Center Parcel No.7;
WHEREAS, CRC desires to offer the Project Sites for disposition on the following terms and
conditions (the "Disposition Conditions"):
1. The Redevelopment Project proposed by the winning bidder must include:
(a) a multi-story office building(s) of at least 30,000 aggregate square feet on each of
Parcels No. 5B and 5C; and (b) a parking garage(s) with at least _VO aggregate parking
spaces on each of Parcels No. 5B and 5C;
2. The office buildings that are proposed by the winning bidder must be
coordinated with the Mixed-Use Project, and the parking garages that are proposed by the
winning bidder must be'integrated with the Parcel No. 5A Parking Garages, so that the
parking garages on Parcels No. 5B and 5C can serve both the Mixed-Use Project and the
planned Performing Arts Center;
3. The design of the office buildings and parking garages proposed by the
winning bidder must: (a) be consistent with the site plans and elevations approved for the
Mixed-Use Project; (b) maintain the same high standards of design demonstrated by those
site plans and elevations; and (c) satisfy the design requirements established for City Center;
4. The winning bidder would be required to pay CRC the average appraised
value of Parcels No. 5B and 5C as a purchase price for the Project Sites, which purchase
price: (a) shall not be less than $1,500,000; and (b) may be divided and paid one-half for
each of Parcels No. 56 and 5C;
5. The winning bidder and CRC would negotiate and execute a Project
Agreement that: (a) incorporates the foregoing Disposition Conditions; and (b) includes
customary provisions and other terms and conditions required by CRC;
6. The winning bidder would be required to construct the Mixed-Use Project in
accordance with the Project Agreement and with plans and specifications and a construction
schedule that are approved by CRC and attached as exhibits to the Project Agreement;
WHEREAS, CRC desires to authorize the offering of the Project Sites for disposition on the
Disposition Conditions, with bid submission and opening scheduled for September 21; 2004.
NOW. THEREFORE, BE IT RESOLVED THAT:
1. CRC hereby authorizes: (a) offering of the Project Site for disposition on the Disposition Conditions;
and (b) all other actions necessary to complete such offering.
2. The President of CRC hereby is authorized to execute any and all documents, required in connection
with: (a) offering of the Project Site for disposition on the Disposition Conditions; and (b) all other actions
necessary to complete such offering (the "Offering Documents").
3. The President of CRC hereby is authorized to delegate the execution of the Offering. Documents to
another member of CRC in his/her absence.
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Passed by the Redevelopmerit Commission of the Cityof,Carmel,.lndiana;,-this.&day of July; 2004, bya vote
of ayes.and. C, nays.
CITY OF CARME_L REDEVELOPMENT
Y+ Ai^nP- COMM
By: Edmund Burke B Ronald Carter
By:[Z By: a6sen
Robert a treat Richard:Sharp
Prepared byWallack Somers &' Haas,,Special Counsel to CRC
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