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HomeMy WebLinkAboutCRC-05-20-09CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday, May 20, 2009 The Oath of Office was administered to Greg Phillips, a Mayoral appointment from the Carmel Clay School Board, prior to the Executive Session at 5:30 p.m. Mr. Phillips is an ex-officio member of the Carmel Redevelopment Commission. President Ron Carter called the meeting to order at 6:36 p.m. Commission members Bill Hammer, Carolyn Anker, Jeff Worrell, John Accetturo and Greg Philips were present, constituting a quorum. Also present were Karl Haas, Les Olds, Sherry Mielke, Andrea Stumpf and Matt Worthley. Others present: From Shiel Sexton Co.: Mike Anderson From CSO Architects: Brandon Bogan Others Present: Rick Osborn, Kevin Rider, Jeremy Stephenson, Lauren Matthes, Heidi Dickman, Darrel Norris, Brandon Weddle, Chris Sikich. The Pledge of Allegiance was said. Financial Presentation by Umbaugh & Associates Lauren Matthes, principal consultant for the Carmel Redevelopment Commission with Umbaugh & Associates, presented TIF reports to provide an update on TIF activity since 2005. The presentation included a comparison of estimated TIF numbers since 2005 to actual TIF revenues and tax rates for 2009, an overview of legislative changes, outstanding debt and sources of repayment, description of TIF areas, and descriptions of TIF revenues in comparison to the overall debt. Ms. Matthes gave an overview of all allocated TIF areas that contribute to the incremental assessed value which have resulted in higher than anticipated TIF revenues from 2005 to 2009. She also noted the anticipated growth, based on building permits, and the contribution to TIF revenues from these sources. A slow growth scenario was included in the financial report due to the current economic times. A chart with 2005 estimates for 2009 compared with actual revenues for 2009, as well as future estimates based on the 2009 numbers was also provided. Ms. Matthes commented the plan for TIF has been successful because the City has been able to leverage over one billion dollars in new private investment in the downtown areas and has been able to fund the infrastructure, move utilities and prepare the sites for the new private developments. Discussion ensued. The TIF uses of the CRC do not have a negative impact on the overall debt rating of the City of Carmel which has an “AA” rating. Also noted: for TIF that is backed by developers, the city is not liable if the project isn’t completed. A copy of the financial report is included in the files. Approval of Minutes March 2, 2009: As Mr. Sharp is no longer on the Commission; the minutes were unable to be approved due to a lack of necessary votes. A copy of the unapproved minutes is included in the file. April 15, 2009: Moved for approval by Mr. Hammer, seconded by Ms. Anker and approved with four in favor and one abstention (Mr. Accetturo). April 29, 2009 – Plan Review Panel: As Mr. Sharp is no longer on the Commission; the minutes were unable to be approved due to a lack of necessary votes. A copy of the unapproved minutes is included in the file. April 29, 2009: Moved for approval by Ms. Anker, seconded by Mr. Worrell and passed with four in favor and one abstention (Mr. Accetturo). Financial Matters Ms. Mielke announced the April 2009 end of month operating balance for the CRC General Fund is $1,879,322.00. Ms. Mielke requested the Commission’s approval to pay invoices for the CRC General Fund in the amount of $1,220,908.23. There was brief discussion on the claims. Mr. Hammer moved to approve CRC General Fund claims as submitted. Seconded by Ms. Anker and passed with four in favor and one abstention (Mr. Accetturo). Sherry Mielke requested the approval of the Disbursement of Funds from the PAC Construction Fund in the amount of $3,416,975.81. Moved for approval by Mr. Hammer, seconded by Ms. Anker and passed with four in favor and one abstention (Mr. Accetturo). Ms. Mielke reported she received training to access the online bank statements for the PAC Disbursement Fund Account with Bank of New York Melon. Mr. Worrell thanked the Clerk-Treasurer for accommodating the Commission’s request. Ms. Mielke reported the staff has been working to obtain a letter of credit for Parcel 14 (Harrill property) and currently looking at alternatives to accomplish that goal. Committee Reports Plan Review Panel Mr. Worrell reported the committee met on April 29, 2009 with representatives of Keystone Construction to review the materials used for the exterior construction of the building. The majority of the materials were accepted, minus the “hardy board” to be used in the interior public courtyard. Mr. Olds referenced the updated exterior design drawings, included in the Commissioners’ informational packet, showing the upgrade to masonry on the exterior of the building and reflecting all the agreed upon changes from the meeting. The developer would like financial support from the Commission to assist with the additional cost due to masonry upgrades. Keystone Construction provided a document showing an estimated additional cost of $153,282 for the use of brick on three floors and one floor of drivet. Mr. Olds noted that the RFP specifically outlined the predominant use of masonry on the project. Discussion regarding the use of “hardy board” and the addition of the exterior masonry ensued. Mr. Haas noted a reduction in purchase price was negotiated due to the architectural upgrade of increased architectural features originally requested by the Commission upon the approval of the project. Mr. Worrell nominated Mr. Accetturo as a member of the Plan Review Panel. Seconded by Mr. Hammer. Mr. Hammer moved to elect Mr. Accetturo by acclamation. Mr. Accetturo was elected by acclamation. Update on Properties Old Town Shops II Mr. Olds reported the CRC staff is exploring the possibility of preparing space for two new tenants in the Old Town Shops II building. Indiana Design Center Mr. Olds gave an overview of the additional parking spaces available to the public through the Indiana Design Center and the duties of the City of Carmel departments in regards to upkeep of public parking areas. Mr. Worrell moved to accept the developer of the Indiana Design Center’s offer to exchange Arts & Design District parking in exchange for snow removal and general landscape maintenance. Seconded by Mr. Accetturo and unanimously approved. BobbyJohn LLC Warehouse Ms. Anker moved to approve an interim agreement with BobbyJohn LLC for a 30-day contingency period in which to gather appraisals and understand the conditions and whether or not those would be satisfactorily met for a decision to continue with the agreement or to cancel it to be made at the next regular Commission meeting. Seconded by Mr. Hammer. The motion passes with four approvals and one opposed (Mr. Accetturo). Arts District Lofts A meeting of the Plan Review Panel will be set to review and approve the interior courtyard elevations. Arts & Design District Ms. Mielke announced the race-themed gallery walk will take place this Friday, May 22nd in the Arts & Design District as well as an historical plaque unveiling at Woodys Library Restaurant at 6 p.m. Old Business No old business at this time. New Business No new business at this time. Other Business Mike Anderson, Construction Manager for the PAC from Shiel Sexton, gave an update on the construction of the PAC. He also reported he’s been giving many tours by interested organization from the community. Announcements Mr. Worrell announced that Carmelfest Spark Buttons are being sold at the businesses of the Carmel Arts & Design District for $3 to support the Fourth of July fireworks. Mr. Carter also noted the Carmelfest Spark Buttons will be sold at the Carmel Farmer’s Market as well on Saturday mornings. Adjournment Mr. Hammer moved the meeting be adjourned and seconded by Mr. Accetturo. The meeting was adjourned at 8:28 p.m. The next regularly scheduled meeting is Wednesday, June 17, 2009 at 6:30 p.m.