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HomeMy WebLinkAboutCRC-10-13-99 CARMEL REDEVELOPMENT COMMISSION Wednesdav, October 13, 1999 DOCS Conference Room 6:00 p.m. AGENDA 1. Call to Order. 2. Approval of Minutes 9/8/99 Meeting 3. Old Business A. Acceptance of bid for Parcel .41 4. New Business A. Approval of Invoices to be paid 1. American Consulting Engineers $ 1,292.00 Wetland Mitigation 2. James Brainard $ 10650 Books on Architectural Styles 3. CSO Architects $ 1,849.80 Carmel CityCenter.Kroger Demolition 4. CSO Architects $ 1,827.50 Carmel City Center Master Drain Analysis 5. Kinko's $ 48,45 Supplies (Paper & Laminating Pouches) 6. Double Tree Guest Suites $ 593.69 City's guests from New York City T McNamara Florist $ 46.00 Floral arrangement for visitors from New York These invoices will all be paid from the City Center Bond. 5. Schedule next meeting (November 10 would be the nest regular date.) 6. Adjournment zlredevco``?\1999 October 13 Agenda a,?( i , CARMEL REDEVLOPMENT COMMISSION Meeting, Wednesday, October 13,, 1999 President, Rick Roesch called the meeting to order at 6:02 p.m. Members present were John R. Koyen, Ran Carter, Amy Boldt; representing ;a quorum-Also present was mayor Jim Brainard, C1efk-Treasurer Diana Cordray, Wayhe A Wilson, Councilor Elect, Karl Haas, from Wallack; Somer & Haas, and Phil Dunlap,, from the Indianapolis; Star. Kevin Kirby; Councilor, arrived at 6130 p:m. Phyllis Morrissey present as support staff. Approval of Minutes Amy Boldt-moved we approve the minutes from,the September B,. 1999_;, meeting: John .Koven seconded; The, motion-was unanimously approved, Old Business Karl.Haas;announced we are ready to accept the AMLI bid forthe•residential portion of the city center. We've worked out a project,agreement subject to attaching'acceptable exhibits prior to the work being done by,the various parties: Tliis.hasbeen slowed impart because of-the-wetlands issue; but we:have a letter from AMLI's council-that AMLI is prepaired'to sigh the project agreement. The.bids actually expired'Monday, October 11; 1999, but ATNEI extended:theirbid to the end. of the week; N all'regards, what they've committed to in the project agreement is consistent-with their original proposal. Mr. Roesch stated we had a committee which reviewed the bids. The findings of that committee were to approve the AMLI bid.,Mr. Roesch then asked=if there was a motion to accept that bid. When no one responded, Ms. Boldt suggested' there still. maybe questions. Her only question is on the mitigation of the wetlands, has that been concluded. or, are we leaving ourseEves open to,an,uncertatn liability-on what capitol we are=going to have to inject? Mayor Brainard: responded with a brief explanation about the mitigation, noting we are working out the details,with I13EM and,the,Army Corps of Engineers which, is very minor since we're talking about less than three acres. We're leaving some wetlands in the area and AMLI has.accepted-that: We 1l have to do an additional bid for roughly two acres in front of the parcel to'replace the wetlands. The Mayor noted, we've. also asked them-ioimove the townhomes onto City Center Drive to create more of the streetscape and also change the road configuratiomon the,east end with less road and more green space. Mayor Brainard continued, stating we don't believe we're leaving ourselves open to any problems. We don't have a site for our wetlands yet but our attorney has met with the representatives of IDEM and they were very pleased with what we are doing. We'-re working on the details for -a possible donation,wtthin our watershed. We know roughly what the cost of the wetlands mitigation-would be and with the AMLI bid being more than $1.2 million than we.expected, my'request would be to go, ahead.and getthe { CRC Meeting Minutes of 10/13/99 (continued) Page Two approval so we can close in escrow. We can then get the wetlands and the zoning issues worked out. Karl noted the agreement is that we would close on December 15`" and AMLI would pay the $4 million. If zoning and the wetlands issues are not complete at that time the money will be in escrow until it's all complete. The mitigation plan would be jointly approved subject to the approval of the CRC. Mr. Roesch asked if we still needed to go to the Plan Commission for zoning. Mayor Brainard replied that would be the best course. The Plan Commission will make an advisory opinion to the Council and the Council will make the final decision. Since the Plan Commission unanimously approved the plan we don't anticipate any problem there. Mr. Carter asked about the time frame. Mayor Brainard said it could conceivably be done by December 15. AMLI can't start construction until March 15 so at the latest it would be done by then. Mr. Haas noted they will break ground before the end of the year even if it's not out of escrow. AMLI will be doing site work, moving dirt and would indemnify the City. Mayor Brainard reminded the CRC that AMLI has no financing contingencies. Mr. Carter then made a motion to approve the AMLI bid. Ms. Boldt seconded the motion. Approval was unanimous. Clerk-Treasurer Cordray noted she will hold AMLI's deposit and refund Prime Residential LLC in the amount of $162,500. Mr. Roesch (continuing Old Business) stated in regard to the question at the last meeting about the First Indiana closing, there is a reference in the minutes of 4/15/98 that there was to be a second closing on the First Indiana property which means we still have funds to disburse. Clerk Treasurer Cordray noted that money is in the project fund but not labeled for a specific purpose. Mr. Roesch said it should be labeled the First Indiana closing. He volunteered to write a letter to the trustee, Ann Foree, of National City. There will be a second closing with documents we have to sign. The Commission's attorney for this is Beth Young of Bose McKinney & Evans. Rick will contact her about the details. Continuing Old Business, Mr. Koven has not yet checked on the public restrooms he saw in San Francisco. Mayor Brainard gave an update on City Center. CSO was asked to design a restroom building thatmould serve the center as well as the Motion Trail and also provide CRC Meeting Minutes of 10/13/99 (continued) Page Twee additional storage for the City. It would be three times the size of the present storage building west of the fire station and will be architecturally compatible. Work is continuing with Kestners since their building will be torn down. They have identified a property near the northwest corner by the Monon tunnel which they're interested in. The City is providing architectural services as part of our compensation to moving them. At the next meeting the CRC will review the possibility ofenlarging the TIF district (which can be done as long as it doesn't exceed 20% of the original sites) to include the Buckingham project, as well as a couple of the new buildings on Meridian Street including the Duke project at Carmel Drive and Meridian. With those projects and the AMLI project, we're predicting 2,500,000 additional square feet which would be an income of $3,000,000 a year. The Mayor stated he would be coming back to the CRC and the Council over the next few months with the request to use that stream of income to borrow the money to build the performing arts center and possibly an art museum building, as well as for some additional work in the old town area that serves the city center. There would be no increase in property taxes. As can be seen from the invoices, the City recently entertained Mr. Steven. Rosenberg and Dr. Sherry Wieder from New York City. Mayor Brainard met them at the annual U.S. Conference for Mayors in New Orleans. They are with the foundation which owns the world's best collection of Barbizon pre-impressionist French paintings. They're looking for, a city that wants a museum, a city which would provide a building and work with them to provide an operating endowment. The estimated value of the collection is $10-12 million. It would cost about a quarter million dollars to get a current appraisal and that would be part of the agreement. The City would hire a certified art appraiser. There'is also a large reference library included which would attract ail scholars from around the world as well as traveling exhibits. The Moron will soon be paved from Gradle Drive to 3 a Avenue North. We've prepared the specs for the bid to tear down the old Kroger building. These bids will probably be opened at the next meeting. Everything there will be demolished except Sherwin Williams (which is a freestanding building) and they're still looking for a site. There will be a buyout price for Sherwin Williams. We are also evicting a tenant, a beauty shop which hasn't paid any rent fora couple of years. We are working on how we take out part of the brick wall on the north side of the square to, connect City Center via Veterans Drive. New Business The Mayor announced that he had a proposal for Old Towne and was going to ask for a resolution tonight and answer any questions. Mayor Brainard then presented the drawings and explained the proposal. CRC Meeting Minutes of 10/13/99 (continued) ( Page Four He noted the City has put $12-15 million into Old Towne improvements. The next step is to encourage private investment in Old Towne along the Motion. Cripe Architects and Engineers were asked to design something for the two blocks between the Motion along Main street going east, then south a block, then back to the Monon. They took their idea from an 1857 Springfield, Illinois, photograph and came up with a complex of combination retail and 90-100 apartments with garages. The plan has flex units facing the Motion with residential space above and retail on the first floor. The retail is all small shops, 500-800 square feet, with fairly strict sign standards and flowers planted every year by the developer. The retail will be small boutique businesses, bakeries, news stands, things used by people in the neighborhood. We're working on additional parking for the area as part of the city's contribution. We have a friendly developer who has all this under option for $1.2 million which includes two square blocks with existing buildings which won't be torn down. Mr. Haas recommends the City do a ground lease for a nominal sum of $1. Tax revenue in this section (could be made part of TIF) would be between $350,000-$400,000 per year. Hopefully, a project like this would encourage other development in this area. It would also give the city more income from property taxes and additional COIT from workers. The City would buy the property, bid the right to buy the ground on a 50-80 year lease based on all the City standards. The City would be paid under that ground lease based on a formula. After the debt service, interest payments, operating costs are all paid, a portion of the proceeds would come to the city to pay the lease. A resolution is needed to proceed to appraise the property and actually enter into the agreement using the builder's option. There are currently two developers who have expressed a very strong interest and two others who want to sit down and look at it. We'd like to close on it yet this year and start construction next year to keep the momentum going in Old Towne. It would be good timing to close after we receive the $4 million from AMLI, or at least in escrow. Mr. Koven asked what other expenses the city would have in regard to this project other than just land acquisition. Mayor Brainard responded the City would have expenses for burying the power lines, preparing the site, getting it leaseable/buildable. There would also be minor demolition costs of $75,000-100,000. The overall consensus of the Commission on the project was very positive. Clerk-Treasurer Cordray asked if we would have sufficient cash to carry us through with all our other demolitions, too. Mayor Brainard responded in the affirmative, noting the increased TIF funds will be very helpful. CRC Meeting Minutes of 10/13/99 (continued) Page Five Mr. Kirby noted the seed money for this all came out of the original $10,000,000. He then asked if it was planned that the TIF be expanded and if that has to be contiguous. Mayor Brainard responded in the affirmative. Mr. Koven asked if there was an advantage to the city to stay with a land lease versus a graduated acceleration, enabling the City to get the principle back. Mr. Carter then made a resolution of interest in this project and to take steps to acquire this property. Mr. Roesch asked if he would amend his resolution to include authorization of expenditure of preliminary funds to proceed with this project. So amended. Ms. Boldt seconded. No further discussion. Unanimously approved. Mayor Brainard thanked the Commission for the resolution and their approval of the project. Continuing with New Business, Mr. Roesch noted the invoices were listed on the agenda. Ms. Boldt asked Clerk-Treasurer Cordray if all the invoices have been internally / - approved. Ms. Cordray responded in the affirmative. l Mr. Koven requested an explanation for invoice #3. Mayor Brainard explained it was for CSO Architects to write the specs for the bid for the demolition of the Kroger building, including determination that Sherwin Williams is a freestanding building. Demolition hopefully will occur by the end of the year. Ms. Boldt moved we approve payment of the seven invoices on the agenda. Mr. Koven seconded. Unanimously approved.. Clerk-Treasurer Cordray gave an update on funds: We have $1,552,170.16 in City Center Bond .and-in TIF there is $175,151.72. We have-$4,057,891.82 left in Hazel Dell including $3,000,000 debt reserve fund ($2,500,000 is in a certificate of deposit.). Mr. Roesch asked if there was anything left over from the Hazel Dell project. Mayor Brainard responded since there were really four projects, it was too early to tell. He noted we will also get-approximately $850,000 from the county for 146's Street when that project is completed. This will go into the Hazel Dell fund. Mr. Koven suggested reflectors be installed on Hazel Dell Road to make the lanes show up more clearly after dark. He also noted there are.potential problems with medians on 146u' Street. Mayor Brainard recommended Mr. Koven ask the City Engineer about reflectors. CRC Meeting Minutes of 10/13/99 (continued) Page Six Next Meetine The next regularly scheduled meeting will be November 10, 6 p.m. Adjournment There being no further business, Mr. Carter moved the meeting adjourn. Ms. Boldt seconded. After approval the meeting was adjourned. Z:Vedev co=ld 999 Oct 13 Minutes l