HomeMy WebLinkAboutCRA-04-16-09 M Cq
Cit Carmel
AND,
THURSDAY, APRIL 16, 2009
CARMEL REDEVELOPMENT AUTHORITY
MEETING MINUTES
LOCATION DOCS CONFERENCE ROOM, 3 Floor TIME 4 30 P M
CARMEL CITY HALL
ONE CIVIC SQUARE
CARMEL, IN 46032
Present
Rob Bush, President Bruce Donaldson, Barnes and Thomburg
Becky Kapsalis, Vice President Candy Martin, Recording Secretary
Brandt Burdick Secretary/Treasurer
Resolution No 2009 -2, Resolution of the City of Carmel Redevelopment Authority
Approving Use of Surplus Bond Proceeds
2006 issued County Option Income Tax Lease Rental Revenue Bond in the amount of
$72,000,000 to be put towards various road and other projects in the City
Determined that $2,500,000 of 2006 Bond has not been used and now considered a
"Surplus (Secretary Treasurer has verified the funds are still available) and can be
reallocated for other road projects in the City
Additional funding is needed to complete Keystone Comdor Improvement project
(existing Keystone Avenue right of way between 96 Street and US 31)
Requested for CRA to approve the use of $2,500,000 surplus for the Keystone Comdor
Improvement project to eliminate City having to purchase additional bond
Noted the Surplus amount will be used for same type of road projects as the 2006 bond
was originally approved for
Motion Brandt Burdick to approve Resolution No 2009 -2, Resolution of the City Of
Carmel Redevelopment Authority Approving Use of Surplus Bond Proceeds, seconded by
Becky Kapsalis, approved 3-0, Motion Earned
Meeting adjourned 5 05 p m
Rob Bush President Candy Martin, Recording Secretary
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ONE CIVIC SQUARE CARMEL INDIANA 46032 317/571 2417