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Home My WebLink AboutCRC-03-08-99 11 CARMEL REDEVELOPMENT. COMMISSION March 8; .1999 MINUTES 14/ 'ci Ole ?s President Rick Roesch called the meeting to.ordei at 5:35 p.m. Members present were Amy.Boldvand Sue Westermeier, Mayor Brainard and Clerk Treasurer Diana Cordray were, attendance. The. Press was -represented by Josh Duke of the Topics. and Michelle Barbercheck froin the Star/News. Craig: Hesse of the Linder Group,"Karl Haas of Wallack Somer & Haas, and'Beth Young of Bose McKinney Evans were present; as were the following,citizens: Rick Parker,, Gabe Grant, and Jeff Hearn. Ms. Boldt made a mction to approve the minutes,of the December 23, 1999 meeting. Following a second by Ms. Westermeier, approval was unanimous. Under the,Eleciion of Officers, Ms._Boldt made a motion'that members retain the same offices held in 1998. The re-election was unanimous. The Mayor. reported he received a voice mail message from Liz Tevyaw indicating her husband had,an immediate,transfer to the Chicago area, thereby constituting a verbal resignation. A new appointment will be forthcoming. Ms. Cordray•asked about her role as Treasurer'for the commission, and was assured it is still in effect. Under Old Business, Ms. Cordray distributed spread sheets showing the flow-of, payments through he Redevelopment Commission, including rental income on:the Harrigan property. The security lights. on that property have,been taker. care_of. Ms. 'Cordrayreminded members that,we arethe-bank and property manager for the Harrigan property, while Collier manages,the former Kroger area. Under New Business, Ms. Westermeiermade:a motion to authorize Dave Brandt of the Department of Administration to take care of necessary maintenance at the Harrigan property (including the beauty shop and,cleaners). 'Ms Boldt seconded,the motion, which. then was approved. Ms. Cordraystated.that if expenditures are of anon-emergency nature„ Mr. Brandt tries to obtain more than one estimate. The,invoices listed on the Agenda.all pertain to the CityCenter. Following a brief discussion, Ms. Boldt made a motion to approve the invoices for payment. Following a second by Ms: Westermeier, the:motionwas unanimously approved. The Mayor noted that it was_.more cost effective to bid the enlargement of Third Avenue and Range Line Rd: at-the same time that 1266 St7CiiyCenter Drive was'bid. Redev Comm. 318/99 page E area after builders start paying taxes. The. Mayor showed some renderings of the. !V+ a4c?i lq 10 IV& 4$s Ms, Young distributed a letter relative to Merchants Square. She explaincd'that previously. there was a distribution to acquire. approximately 80% of the rights-of way- At this time she is requesting asecond distribution.to permit the city to acquire up to 95%0 of the right of way. She noted,a packet of information had becn,sent to co' mmis`sion members last week, in which closing documents wereidentified and listed. She indicated the Bose McKinney fee is an estimate, and could be reduced at the closing: Seven outstanding items are listed`in,a March 0 Ieiterto Craig Hessee: One requests a revised deed from KeyBank which-has the reservation of a landscape,easement, .The distribution will be contingent upon the:satisfaction•of the iterns in the referenced-letter prior to closing, Ms. BoldOnquired about any further infrastructure improvements, to which Ms- Young explained that a final distribution will include the acquisition of the triangle at First Indiana Bank. The-'.project of relocatingfrealigning this.road-is a,city project. Ms. Young said the infrastructure improvementshave:been,completed, and.are acceptable to the-City Engineer. When.all the points have.been resolved, Ms, Young will contact Commission members for signatures. Once approved, the.Redeveloprnent Commission will forward these to the Clerk, whereupon the Clerk will forward them to National City-for payment. Ms. Boldt made :a motion,to approve the+distribution2of the TIF'financing for,Merchants Square; contingent upon the.completion-of the,seven points outlined in the letter.from Elizabeth" Young to Craig Hessee dated March 5, -1999. Unanimous approved. followed a second by Ms:, W estermeier. Ms. Young plans to call Mr. Roesch at the appropriate_ time to begin the circulation of documents to obtain, signatures. Under New Business, the Commission will consider Resolution-1-1999 regarding the. Mueller property. The Mayor reported.good news for the City Center.. The.Board.of Works,approNied the purchase of the roadway portion last week (including dirt worth $400,000) for $1,775,000`. The approxiinate' purchase price for the548 acre parcel.of Mueller property-isI5 million-(approximately $100,000 an acre), which,is a good price. Based. oo the expectation of putting the propertyup for bids for the City Center, and'the ensuing development, the citizenry will benefit from the tax income derived.from this proposed apartments, indicating" Summit Co. of Charlotte and Amway are'interested-.in Redev Comm, 3/8/99 page 3 try???ic l?< bidding on this property. The asking price is $240;000 an acre, with•prospects,thus far indicating a willingness to pay this price: Once we own the property, the Redevelopment Commission can issue a notice that we will accept bids, giving a certain number of. days to turn in bids. Thesbids will be opened at a,public hearing. 'The,Commissionwill.have,the option of accepting one of the bids,or rejecting them..At thaftime negotiations can take place with bidders. We hope to begin thebidding of the'Mueller:propertywithin 4-6 weeks. The City is working with the Simon Group on the retail portion,-ofthe City Center. The only remaining properties we will need to purchase are Goodyear and the building which houses the Schwin'Bicycle Shop. The Mayor added that we?never intended to use one developer. Ms. Boldt asked how; all this compares to appraised values of.the,property..The Mayor stated' that, values have increased, and while;we are;paying more than the. initial ae? appraisals, the entire.real estate area has increased in value. The Mayor feels updated i? appraisals are•not?necded. C- . ,Mr..I3aas offered the fact that while the Redevelopment Commission needs.to obtain appraisals, it is not,bound_to them. Ms. Cordray said the $5-million would. come from the $10.5'millionbond.issue (which is to be repaid from TIF monies). The Mayor added that the, repayruent'has`been guatanteed with COIT funds, but-the'T1F district is going well because of the amount of growth inthe district. The Mayor-said the City-has agreed to build the reflecting pool and road.: Discussions continue on technical issues, but substantive terms'have been struck; so: the conveyance documents,should soon follow;;and then the ciosing, itself The Resolution under consideration will give authority to proceed with the closing. Ms. Westerrneier made a motion to approve Resolution, I-1999. Ms. Boldt seconded the motion, following which unartirtious.approval occurred. The necessary signatures were obtained. `i El Redev Comm 3/8/99 page 4 A 5:30 p.m. meeting time. seems`agreeable,to members., Fs The Mayor said he will be inferviewing people for the'fifth_member ofthe;commission. Ms. Boldt made a motion to adjourn, Ms., Westermeier seconded, and the meeting officially adjourned at 6;25 p.m. Z:4edeveOM 1999ma h8lnMrrM