HomeMy WebLinkAboutListing of Resolutions• MEMORANDUM
TO: City Council Members
FROM: Diana L. Cordray
Clerk-Treasurer
DATE: July 1, 1998
RE: Activity Summary
Attached please find a summary of the Carmel Redevelopment Authority and Carmel
Redevelopment Commission's activity since their inception. This list was prepared by
Charlene Kelsey.
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® CARMEL REDEVELOPMENT COMMISSION
Summary of Activity
2118197 Resolution 1-1997, a Declaratory Resolution establishing an Economic
Development (tax increment) Area and approving the Economic
Development Plan for Merchants Square.
4/21/97 Public Hearing on Economic Development Project at Merchants Square.
Resolution 2-1997, a Confirmatory Resolution confirming the Declaratory
Resolution adopted on 2/18/97.
5/13/97 Resolution 3-1997, declaring an Economic Development Area and
approving a Development Plan for Hazeldell Parkway.
Resolution 4-1997, declaring an Economic Development Area and
approving a Development Plan for the Pennsylvania Street Corridor.
Resolution 5-1997, declaring an Economic Development Area and
approving a Development Plan for Old Town.
® Resolution 6-1997, declaring an Economic Development Area and
approving a Development Plan for the 126th Street Corridor.
6/16/97 Public Hearings for the four areas introduced on 5/13/97.
Resolution 7-1997, confirming Resolution 3-1997 declaring the Hazeldell
Parkway Economic Development Area and approving the Development
Plan.
Resolution 8-1997, confirming Resolution 4-1997, declaring the
Pennsylvania Street Corridor Economic Development Area and approving
the Development Plan.
Resolution 9-1997, confirming Resolution 5-1997, declaring the Old Town
Economic Development Area and approving the Development Plan.
Resolution 10-1997, confirming Resolution 6-1997, declaring the 126th
Street Corridor Economic Development Area and approving the
Development Plan.
Resolution 11-1997, approving a proposed lease between the City of
Carmel Redevelopment Authority and the City of Carmel Redevelopment
® Commission and setting a Public Hearing on the proposed Lease.
Carmel Redevelopment Commission
Summary of Activity
® 7/7/97 Public Hearing on Lease between City of Carmel Redevelopment
Commission and City of Carmel Redevelopment Authority.
Resolution 12-1997, authorizing the execution of Lease between the
Redevelopment Commission and the Redevelopment Authority, whereby
the Redevelopment Authority will issue COLT Lease Rental Revenue
Bonds ($32,000,000) to finance the development of Hazeldell Parkway,
126'h Street Corridor, Old Town, and Pennsylvania Street Economic
Development Areas, to include roads and other improvements. The
Redevelopment Commission will pay rental payments to the Authority not
to exceed $3,143,000 per year in semiannual installments, beginning the
day the leased premises are completed and ready for use or 6/15/99,
whichever is later, through the expiration of the Lease.
12/15/97 Resolution 13-1997, authorizing the acquisition of the AUL site for
$2,550,000 (former Kroger Center).
1/15198 Resolution 1-1998, a preliminary bond resolution (re: Merchants Square)
showing intent to issue Redevelopment District Tax Increment Revenue
bonds of 1998 ($2,655,000), the proceeds of which will be used for road
and other infrastructure improvements. The bonds will be payable from
® tax increment, and to the extent tax increment is insufficient, from
developer payments. The bonds will be sold to McDonald & Co.,
Cleveland, OH as underwriter.
Resolution 2-1998, amending the boundaries of the 126'' Street Corridor
Economic Development Area, approving an amended plan, declaring the
area an allocation area.
Resolution 3-1998, declaring an area in the city (City Center) a
redevelopment area, approving a plan for the area, declaring the area an
allocation area.
Public Hearing on Bond Issue.
Resolution 4-1998, authorizing issuance of Taxable County Option
Income Tax Revenue Bonds ($10,500,000) for the reimbursement of
expensed incurred from the acquisiton and redevelopment of City Center
project property.
2/2/98 Public Hearing on Expansion of Economic Development Area -
Merchants Square.
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Carmel Redevelopment Commission
Summary of Activity
® Resolution 5-1998; amending Declaratory Resolution 1-1997 and
Confirmatory Resolution 2-1997, enlarging the Area boundaries (First IN
Bank and vacant outlot) - Merchants Square.
Public Hearing on Bond Procedure.
Resolution 6-1998, approval of the financing for the $2,655,000 bond
issue.
Resolution 7-1998, an Additional Appropriation Resolution in the amount
of $2,655,000,: the funds for which will be provided out of the bond
proceeds.
Resolution 8-1998, a letter in which the Redevelopment commission
agrees ,(with the Common Council) to apply any property tax proceeds
paid into the 126`s Street Corridor Economic Development Area Fund or
the City Center Redevelopment Allocation Area Fund to payment of the
debt service on the 1998 Tax Revenue Bonds (ensuring the use of TTF
monies rather than CO1T funds).
2/17/98 Public Hearing on amending Economic Development Area (City Center)
® by removing the City Center from the original Economic Development
Area and adding an area along Executive Drive, along with most of the
Carmel Science & Technology Park. Also including the City Center as a
special project within the 126 Street Corridor. The entire amended 12e
Street Economic Development Area being designated as a tax allocatton
area, which includes the City Center.Project.
Resolution 9-1998, confirming Resolution 2-1998 amending Economic
Development Area boundaries (12e Street Corridor), approving amended
plan for the area, designating an allocation area.
Resolution 10-1998, confirming Resolution 3-1998 declaring area a
redevelopment area (City Center), approving plan for area and designating
an allocatton area.
3/10/98 No official action.
3/16/98 Resolution 11-1998, lease termination for CVS (in former Kroger Center).
3/27/98 Resolution 12-1998, an agreement of procedures for approving
expenditures of bond proceeds, etc (If any expenditure is greater than
$75,000, certain steps are outlined to advise Common Council members
® prior to expenditure being executed).
Carmel Redevelopment Commission
SummM of Activity
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4/15/98 No official action.
4/20/98 No official action.
5/21/98 Resolution 13-1998, Kroger lease termination agreement
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® 8 June, 1998
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