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HomeMy WebLinkAboutCRC-02-18-97(I ' ® MINUTES CARMEL REDEVELOPMENT COMMISSION February 18, 1997 The meeting was called to order by President Rick Roesch at 6:40 p.m.. Members present were Amy Boldt, Susan Westermeier, and Megan Boschini. City Attorney Deb Grisham was present. Also in attendance were Lucy Emison of Ice Miller Donadio & Ryan; Bob Swhier of Dann Pecar Newman & Kleiman; Craig Hessee and Ernie Reno from the Linder Company; and Loren Rooney, Manager of H.J. Umbaugh & Associates. Ms. Boschini made a motion to begin the meeting with New Business. Following a second by Ms. Westermeier, the motion received unanimous approval. Ms. Emison summarized the provisions of the Declaratory Resolution of the Carmel Redevelopment Commission (No. 1-1997) under consideration. She indicated preliminary approval of the Resolution facilitates creation of the tax increment area for what is presently known as Keystone Square. Approval prior to March 1 would permit the use of a base assessment dated March 1, 1996; thus growth after that date can be captured. We can capture money from the increased property tax base then to help pay for public improvements in the ® designated economic development area ("EDA"). ?_. Ms. Emison referenced the various parts of the Declaratory Resolution, and the report in support of the findings contained in the Resolution, and outlined the schedule by which the Commission will present the Resolution to the Carmel/Clay Plan Commission at its March 18, 1997 meeting. The Plan Commission must determine that the proposal meets criteria for the Comprehensive Plan. Following their approval, the Resolution will proceed to the Common Council for consideration. After Common Council approval, the financing documents will be presented, and the Carmel Redevelopment Commission will hold a public hearing. Notification to affected agencies (schools, etc) must be accomplished at least 10 days prior to the public hearing. Basically, preliminary approval of the Resolution means we are agreeing to the EDA, and as Ms. Rooney reiterated, "we are establishing the area so we can capture the growth." Mr. Reno distributed packets to members, and gave some company history, as well as a description of the plans for the proposed Merchants Square. The southern portion of the center will house those types of stores consumers will frequent often, perhaps twice a week (i.e. the Marsh store). The southeast portion will have a "village" atmosphere, and the northern portion is expected to have upscale retailers. The building design and monument sign will allow better visibility from Keystone Ave, and both have already received Plan Commission approval. There will be considerable landscaping along the perimeter roads (including AAA Way), and Mr. ?` Hessee acknowledged that installation and maintenance of the landscaping will be the Redev. Comm. minutes 2/18/97 page 2, responsibility of the developer; even though it,is on whatwill be dedicated as?a public right-of- way. With the proposed development, the assessed valuation for the EDA will increase and generate taxes, with the-proceeds of the bond sale going to pay for infrastructure improvements. The developer will do the rest of the work as xprivate entity: Taxes should be sufficient to cover the debt service on the bonds. Mr. Roesch summarised by saying that we are not,irrevocabiy going down a path by passing this resolution. It is a start; but the numbers will have to fall in line, and,prior.to the public hearing in April, we rill.have all the necessary information with.the economics of anticipated, transactions in hand. Ms._ Boltmoved to approve the Declaratory Resolution. for Merchants,Square (91-1997). After a second by Ms. Boschini,-the resolution was approved•unanimously. Signatures were obtained for two originals of the DcclaratoryResolution: (Abk The minutes•ofthe January conui fission meeting were approved, following a motica by Ms. Bolt. and a second by Ms, Boschini. Under Old Business, Ms. Boschini, as liaison with Carmel Motel, will contact the Mayor's -office for an update: The next regularly scheduled meeting date coincides with the Plan Commission presentation on March 18. The members decided to meet at 5:30 p.m. in the Caucus Room . priorto that meeting: The meeting was adjourned at 8:_20 p:m. after a motion and second by Ms. Westermeier and Ms. Bolt respectively.