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HomeMy WebLinkAboutCRC-09-06-05CRC Minutes, September 6, 2005 1 CARMEL REDEVELOPMENT COMMISSION Meeting, Tuesday, September 6, 2005 The meeting was called to order at 8:20 a.m. by President Ron Carter. Commission members present were Bob Battreall, Jerry Heniser and Rick Sharp, constituting a quorum. Also present were Mayor Brainard, Les Olds, Karl Haas, Even Lurie, Tim Campbell, Kathleen Back, Bruce Cordingley, Steve Sturtz and Steve Brown. Phyllis Morrissey as support staff. Parcel 21 Bid Proposal Mr. Olds asked invited Evan Lurie to present his proposal for Parcel 21. Mr. Lurie distributed copies of his proposal and explained various aspects of the three to four story building. The lower level will be an 4500 sf art gallery with storage in the back and offices on the second floor. The third and fourth floor usage has yet to be decided, but possibly two story condominiums. Several decisions yet to be made. The concept of this building is to set a precedent for the local art galleries and design communities. Mayor Brainard reminded him that the design for Old Town was not to be Georgian Colonial, but rather Prairie Town look, turn of the century. He also noted there should be windows on the ground floor. Discussion followed. Mr. Olds recommended the CRC approve the sale of the land subject to the successful completion of the project agreement and the final design of the project. A time limit was discussed. Mr. Battreall moved the CRC accept the land sale with the bid that was submitted and with the stipulation that the project agreement be completed by the next CRC meeting on September 20. If necessary, an extension could be given at that time. Seconded by Mr. Sharp. Further discussion followed. The motion was then unanimously approved. Parcel 5 Project Agreement Mr. Olds stated there are additional amendments to the Parcel 5 Project Agreement with Pedcor. Approval is needed prior to the start of construction. Addressing one of the concerns from Mr. Cordingley, Mr. Olds has ordered traffic reports and asked the traffic consultant to respond item by item. Mr. Battreall moved the CRC accept the amendments as proposed. Seconded by Mr. Sharp. Mr. Carter read the motion: MOVE TO: (a) approve the First Amended and Restated Project Agreement for Parcels 5 and 7C with Carmel City Center, LLC, as being in substantially final form; and (b) authorize the President of the Commission to execute the Agreement; provided that (i) all financial terms of the Agreement remain; (A) consistent with the financial proposal made by the developer to the Commission in CRC Minutes, September 6, 2005 2 February, 2005; and (B) otherwise acceptable to the President; (ii) all exhibits to the Agreement have been attached and are: (A) consistent with the renderings, elevations, and site plans presented by the Developer and approved by the Commission; and (B) otherwise acceptable to the President and the Executive Director; (iii) the President is satisfied that the aggregated TIF bond and private financing will be in place and sufficient in amount for the Developer to meet its funding requirements; and (iv) the Developer is in compliance with the provisions of the Agreement. The motion was unanimously approved. Other Matters Mr. Olds noted the letter received from Pedcor Residential regarding their taking over of the Kosene project on Parcel 2. Phase 1 has been partially constructed, but Pedcor will be finishing the rest of that Phase and then the entire portion of Phase 2. Kosene had purchased the first half of the property [from the CRC] and the second half is yet to be purchased. It has an value of $450,000. An amendment to the existing project agreement between the CRC and Kosene needs to reflect these issues. Pedcor has outlined what they will be doing. Their main goal is to improve the exterior quality of the buildings. They will be building some townhouses in lieu of flats. The developer is asking from the CRC a reduction in the purchase price half the cost of the improvements. At the most this would be $450,000.00. Mr. Olds would have the authority to approve the various proposed improvements by line item. Discussion followed. Mr. Sharp suggested the improvements be agreed to by the CRC on the recommendation of the Director. Mr. Carter asked about the marketing of flats versus townhouses. Mr. Cordingley said they will be marketing this area together with Parcel 5. If changes in the plans have to be made the project will take a little longer. Mr. Carter stated the importance of not leaving out the segment of the population that no longer wants to live in multi-storied housing. He asked also if the area would be renamed. Pedcor is checking into that. Mr. Olds reminded the Commission that elevator options were in some of the buildings. Mr. Cordingley said he was told no one wanted the elevators. Mr. Sharp moved the CRC approve the request in the letter of August 26 from Pedcor to Mr. Olds amending Item 6 to state the deduction against the purchase price equal to 50% of the improvements will be capped at $450,000 and the improvements as approved by the CRC upon recommendation by the Director. Seconded by Mr. Battreall. Brief discussion. The motion was unanimously approved. Adjournment Mr. Sharp moved the meeting be adjourned. Following a second by Mr. Battreall the motion was unanimously approved and the meeting adjourned at 9:10 a.m.