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HomeMy WebLinkAboutCRC-09-09-09 CRC Meeting September 9 2009 CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday, September 9, 2009 President Ron Carter called the meeting to order at 7 00 p m Commission members Carolyn Anker Jeff' Worrell and Greg Phillips were present constituting a quorum Also present were Les Olds, Karl Haas Sherry Mielke, Andrea Stumpf and Matt Worthley Others present Rick Osborn Dan Morianty, Mike and Judy Anderson The Pledge of Allegiance was said Interest m Party Time Rental Property Mr Haas explained the need for approval of an interest in the Party Time Rental property in an amount not to exceed $1 million with terms and conditions that are satisfactory to the President of the Commission Mr Haas gave an overview of the property appraisal and location, and explained it was an integral piece in the overall development of Range Line Road Mr Worrell moved to approve the purchase for an interest in the Party Time Rental Property, not to exceed $1 million with the terms to be approved by the President Seconded by Ms Anker and unanimously approved Purchase of 7C on Installment Contract Mr Haas explained the P7C property is needed to complete several CRC projects in the City Center area Office Building 500 seat theater and parking garage The offer is consistent with the average value of two appraisals on the property Ms Anker moved the Commission approve the purchase of the 7C property on installment contract under the Master Loan Program in an amount not to exceed $2,880,000 Seconded by Mr Worrell and unanimously approved Purchase of 37 W Main Street (Chaos) Mr Olds explained the need for the CRC to obtain the property as part of a master parking plan located south of the property With the purchase of the property, an unattached structure will be torn down and overhead utilities can be placed underground for the surface parking area The reorganization of the parking lot which will create approximately 135 additional spaces, is critical to the retailers and is estimated to enhance the property values of buildings in the area Commitments have been obtained from adjacent property owners to merge the surface parking areas A three -way liquor license is included in the purchase and can be used at the discretion of the CRC to best benefit the Arts Design Distnct Mr Worrell moved the CRC approve the purchase of the property at 37 W Main, commonly known as Chaos, on an installment contract of $400,000 and that we include 1 CRC Meeting September 9, 2009 in the transaction, the three -way liquor license Seconded by Ms Anker and unanimously approved Parcel 62 Land Swan Mr Olds explained the property owned by Mr Callabrese is the last piece needed for the combined parking area located behind those buildings Possession of the property will allow the CRC to install the ground mounted electncal cabinets to replace the overhead transformers that will be removed when the utilities are placed underground Two appraisals were completed for Mr Callabrese's property as well as two appraisals for property owned by the CRC located directly behind Mr Callabrese's business As part of the land swap agreement the CRC agrees to pay Mr Callabrese the difference between the two appraised values in an amount of $70 250 Ms Anker moved the Commission approve the land swap for Parcel 62, plus an additional $70,250 which is the difference of costs based on appraisals of the two properties to be swapped Seconded by Mr Worrell and unanimously approved Purchase of Gary Nelson Property Mr Olds explained there was an additional piece of property needcd to obtain a quality piece of property for future development to Include in an RFP of the Apostolic Church site (Parcel 92) located on the northwest corner of Main Street and Old Meridian A portion of the property was obtained by the City of Carmel through condemnation in order to construction a roundabout at the intersection The remaining property is too small to be used for future development Through the purchase of the property by a developer, the CRC will be able to recover the original investment had on the property and return the funds to the general account fund Mr Anker moved to approve the purchase of the Gary Nelson property at the corner of Main and Old Mendian, including attorney s fees Seconded by Mr Worrell and unanimously appro‘ ed Approval of PAC Substantial Completion Date This item was withdrawn from the agenda Old Business No old business at this time New Business No new business at this time Announcements Ms Mielke announced three new Arts Design Distnct events including Artomobilia, Dog Day Afternoon, Fall Gallery Walk and the Carmel International Arts Festival 2 CRC Meeting September 9, 2009 Adjournment Mr Worrell moved the meeting be adjourned and seconded by Ms Anker The meeting was adjourned at 733 pm 3