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HomeMy WebLinkAboutCRC-10-07-98CARMEL REDEVELOPMENT COMMISSION ( October 7, 1998 Minutes The meeting was called to order at 5:30 p.m. by President Rick Roesch. Members present were Amy Boldt and Sue Westermeier, representing a quorum. Clerk Treasurer Diana Cordray was also in attendance, as was Scott Miley representing the Star/News. The minutes from the August 26 meeting were unanimously approved after a motion by Ms. Boldt and a second by Ms. Westermeier. Under Old Business Ms. Cordray distributed a spreadsheet regarding Haze1Dell Parkway showing the cash flow of expenditures. The actual bank balance is under $10 million. The spend-down was met in March and September, Ms. Cordray is concerned about the possibility of being short on the March 1999 spend-down. Mr. Steinbart is checking the September balance, and once she receives his report, Ms. Cordray will report to the commission. As Mr. Roesch stated, we issued the bonds, so we need to ensure compliance with the bond documents. During a review of bank statements, Ms. Boldt inquired about the parties shown on the Fifth Third statement. Commission members expressed their gratitude that all invoices representing expenditures of the $10.5 million bond issue will be coming to the Clerk's office for review. With so much going on at the present time, members are appreciative of her assistance. Mr. Roesch feels we have good controls in place, and Ms. Cordray will update the commission as the project proceeds. Ms. Cordray reported that she has gone through the month-to-month activity on the former Kroger property. F.C. Tucker is holding $76,602.18 currently. Ms. Cordray plans to confer with Ron Escue again. Ultimately the above-referenced funds will go to the General Fund. The $120,000 from the Revco lease termination is in the Carmel Economic Development/Redevelopment fund. , Under New Business, it was announced that the Sitzmark - Harrigan Center at 930 S. Range Line Rd. was purchased by the city. Through negotiations at the closing, the city agreed to pay the taxes. Also, plumbing services and the resulting invoice were incurred on the closing date. Mr. Roesch said that proceeds of the equipment go into the General Fund. There was some discussion re: whether a management company should be hired for this center. Ms. Cordray felt her office can manage the three buildings involved in this purchase. Carmel Redev.'Commission Minutes 10/7/98 Ms. Boldt made a motion to approve the bill for L.E. Isley & Sons in the amount of $588.55, along with the tax statement on this property for 1997 taxes payable in 1998 (amount $3,354.03). Following a second by Ms. Westermeier, the motion was unanimously approved. On other invoices related to the City Center, Ms. Westermeier made a motion to approve the Barnes & Thornburg invoices as listed on the agenda, less the deduction of an amount specified by the Legal Dept (leaving an estimated balance of $44,000). The motion carried unanimously following a second by Ms. Boldt. Ms. Cordray will provide the exact amount to Ms. Kelsey. Ms. Westermeier made a motion to approve the Kroger Gardis & Regas invoice listed on the agenda. Following a second by Ms. Boldt, the bill was approved for payment, after the Legal Dept. has signed off on the invoice. (Commission members expressed the desire to have a sign-off by the Legal Dept prior to placing invoices on future commission meeting agendas). Ms. Cordray offered to put together a form. This will provide the ability to retrace our steps. The item listed on the agenda as ALTA Survey (Old Kroger Center) should actually be payable to Woolpert, per attached letter. Ms. Cordray will research the approval of the authorizing agent (the survey is in the Engineer's office). Ms. Boldt made a motion to approve the invoice, subject to the above approvals. Ms. Westermeier seconded the motion, which then passed unanimously. Ms. Boldt suggested having frequent meetings until we get standards in place. Therefore, at Ms. Cordray's suggestion (and in view of the late arrival of the bills), the retraining invoices on the agenda were tabled. Mr. Roesch indicated he has no new information about the City Center, although rumors are flowing. Commission members decided it may be advantageous to schedule some meetings just to pay bills. Ms. Boldt moved for adjournment, Ms. Westermeier seconded the motion. The meeting was adjourned at 6:25 p.m.