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HomeMy WebLinkAboutCRC-06-28-00CARMEL REDEVELOPMENT COMMISSION REGULAR MEETING Carmel City Hall DOCS Conference Room June 28, 2000 Immediately following 6:00 p.m. Executive Session AGENDA 3. 4. 5. 6. 7. 8. 9. 10. Call to Order Approval of Minutes from 5/10/2000 meeting and 6/14/2000 meeting Financial Report - Clerk-Treasurer Diana Cordray Cash Flow Statement - Mayor Jim Brainard Old Business A. Details of proposed building to replace Kestner tenants - Les Olds B. Resolution 11-2000 approving the CRC Exchange; for the Kestner Site New Business Report from Director / Signing of Documents (if any) L?? Schedule Next Meeting (Ju 2) G? Adjournment Lut Z:fndev comm\2000June 28 reg mfg agenda.doc CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday, June 28, 2000 The meeting was called to order by President Rick Roesch at 7:08 p.m. Members present were Amy Boldt, John Koven, Ron Carter and Jack Smith. (Mr. Smith is replacing Ms. Westermeier, who has moved outside the City limits.) Also present were Mayor Brainard, Joe Staehler, Karl Haas, and Councilor Luci Snyder. Phyllis Morrissey was present as support staff. Minutes Ms. Boldt moved approval of minutes from the meeting of June 14`h be tabled until the next meeting since some of the members had not read them. Motion approved. Financial Report Clerk-Treasurer Cordray was not in attendance. Mr. Staehler noted he and C/T Cordray are scheduled to meet at 9 a.m. Friday; June 30, to get the finances balanced. They plan to have a complete report by the next CRC meeting. Cash Flow Statement Mayor Brainard said he will also have this report up-to-date by the next meeting. Old Business A. Mr. Olds was not present so the details of the proposed building to replace the Kesmer tenants will be presented at the next CRC meeting. B. Resolution 11-2000 approving the CRC exchange of the Kestner site Mr. Haas: This is a resolution to exchange the Kestner property for a site in the City Center and then make a payment of $1,200,000 and in addition perform certain site work which was outlined in the information given by Mr. Olds at the last meeting. The cash payment is to reflect the difference in value between the current Kestner site which has space available for leased tenants and the new Kestner site which is smaller. It will accommodate a larger bike shop but it won't accommodate space for other tenants. As a condition Kestner will be obligated to construct a bike shop on his new site. Mr. Rosech: I have a question. In the second paragraph the cash payment reflects the difference in value between the larger improved Kestner site and the smaller unimproved Kestner site. Are we obligated as a Commission to have appraisals on both these sites? How does that affect this resolution? Mr. Haas: There have been appraisals on the land in the City Center site that's being exchanged and there are appraisals on the Kestner building. They are required. Mr. Roesch: But we don't know what those are. And how current they are. Mr. Carter made a motion to take the Kestner Resolution off the table. Following a second by Ms. Boldt the motion was approved. The vote was four in favor and one opposed (Mr. Koven). It was noted the exchange of the Kestner property is subject to the AMLI closing and the funds coming out of escrow. Mr. Haas said it didn't matter how old the appraisals were. They were still valid. The appraisals we have are three years old. One is for $1,010,000. The other is for $1,050,000. Discussion followed. Mr. Koven: What's the value of the land we're trading? It should actually be that appraisal price less the cost of that since we're trading. Mayor Brainard: We believe the current property he owns is worth $1,400,000 which is supported by the appraisals plus reasonable inflation. Discussion followed regarding land values in Carmel. Mr. Roesch: I'm inclined to think that with these appraisals that this is okay but for protection that prior to [other sales] we should get updates of appraisals if they're this old in the future. Mr. Carter suggested this question be put on the next agenda for discussion Mr. Koven called for the question. Ms. Boldt moved for approval of Resolution 11-2000 authorizing the purchase and trade of the Kestner property per the terms of the Resolution subject to the AMLI release of the escrow funds. Following a second by Mr. Carter the motion was approved. The vote was four in favor and one opposed (Mr. Koven). New Business None Director's Report Mr. Staehler had nothing to report, but noted the budget status will be presented at the next CRC meeting. Next Meetine Mr. Carter asked if the meetings could be rescheduled so they don't conflict with the Wednesday evening summer concerts at the gazebo. Ms. Boldt asked if the meetings could begin at 7 p.m. instead of 6 p.m. Mr. Carter agreed 6 p.m. is difficult for him also. Discussion followed. It was decided the next meeting will be Tuesday, July 18, 7'p.m. The August meeting will remain as scheduled (Wednesday, August 9, 6 p.m.) because of a bid opening. Adjournment Mr. Koven movedthe:meeting he adjourned. M.Iow'inga.second;by Mt: Carter, the motion was approved' and the meeting:adjourned at 7i30.p.m.