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HomeMy WebLinkAboutCRC-06-17-09 CRC Meeting June 17, 2009 CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday, June 17, 2009 President Ron Carter called the meeting to order at 6:51 p.m. Commission members Bill Hammer, Carolyn Anker 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: Dan Moriarity Others Present: Jason Springer, Mark Butler, Lucas Clark and Steve Warne The Pledge of Allegiance was said. Bid Openings Parcel 93 94 Streetscape (Indiana Design Center) Mark Butler with Signature Construction was present to open and read aloud the bids. [Please see bid tab attached.] Approval of Minutes May 13, 2009: Moved for approval by Mr. Hammer, seconded by Ms. Anker and unanimously approved. May 20, 2009: Moved for approval by Ms. Anker, seconded by Mr. Hammer and unanimously approved. Financial Matters Don Cleveland, Finance Manager for the Carmel Redevelopment Commission, addressed the Commission stating he is recovering form major heart surgery and expressed his gratitude to the Commission for their thoughts during this time. Ms. Mielke announced the May 2009 end of month operating balance for the CRC General Fund is $1,400,117.00. Ms. Mielke requested the Commission's approval to pay invoices for the CRC General Fund in the amount of $1,311,936.25. Mr. Hammer moved to approve CRC General Fund claims as submitted. Seconded by Ms. Anker and passed unanimously. Sherry Mielke requested the approval of the Disbursement of Funds from the PAC Construction Fund in the amount of $4,431,910.27. Moved for approval by Mr. Hammer, seconded by Ms. Anker and passed unanimously. County Auditor Letter Re: Requirement of HEA 1001 (2008) Ms. Mielke explained under the enactment of HEA 1001 (2008), the CRC must notify the County Auditor, the County Council, the City and all affected taxing districts in their TIF Allocation Areas of any excess captured assessed value that will be passed through by 1 CRC Meeting June 17, 2009 July 15 each year. At this time, the CRC does not have any excess captured assessed value; therefore, it is necessary to provide written notification of same. Moved for approval by Mr. Hammer and seconded by Ms. Anker. The motion passed unanimously. Letter re: pay -off of Merchants Pointe Bonds Ms. Mielke stated it has been confirmed with the Trustee for the outstanding Merchants Pointe Bonds, that there are sufficient funds on hand to pay off the TIF Bonds in the amount of $974,882. The source for the available funds includes the Reserve Fund and primarily the TIF fund. It is necessary to have a Trustee notification letter dated by July 1, 2009 for redemption on August 1, 2009. Mr. Hammer moved for approval and seconded by Ms. Anker. The motion to authorize the CRC Attorney to prepare and issue the necessary letter of agreement regarding the pay -off of the Merchants Pointe Bonds was unanimously approved. Committee Reports No Committee Reports at this time. Update on Properties Indiana Design Center Parking Garage Mr. Olds stated the IDC parking garage was complete and ready to be open. Temporary signage still needs to be put in place showing exits out of the garage. Permanent signage is ordered and will take a few weeks. Arrangements have been made so the garage can be opened by the Fourth of July weekend. Brackets are being installed to deter skate boarders. Arts Design District Ms. Mielke reported the date for Carmel Artomobilia has been changed to Saturday, September 12 and Rock the District is Saturday, July 11 th Noon 9 p.m. Jazz on the Monon is every Sunday from 1 -4 p.m. The event may move from Main Street to the lot on the southwest corner of Main and the Monon Greenway. Old Business Resolution 2009 -2: Installment Loan Contracts for Parcel 7C Main Theatre Mr. Haas explained this is one of the installment contracts part of the installment loan program. The resolution identifies REI Investments as a qualified developer to provide engineering and design services for the completion of the Main Stage Theater, to do project management and to begin footers, foundation and site preparation. The amount of the installment contract is $2.75 million. The remaining balance from Regions Bank is approximately $16 million. 2 CRC Meeting June 17, 2009 Moved for approval by Mr. Hammer and seconded by Ms. Anker. The motion to approve a $2,750,000 Installment Loan Contract for preliminary work on the Main Theater was unanimously approved. Resolution 2009 -3: BobbyJohn, LLC Contract Mr. Haas requested a resolution authorizing the President of the CRC to execute an agreement with BobbyJohn, LLC in addition, all required related documents and contracts which would include a lease. The lease would provide the CRC to lease space in a warehouse at 457 3` Avenue for a term of two years at a rental rate of $7,125 per month. This rate was determined by appraisals commissioned by Mr. Olds and is actually below the fair market rental rate on a square foot basis. The lease also includes the option for the CRC to purchase the warehouse at the end of the two -year term. If the CRC exercises the purchase option, they will be able to terminate the access easement that bisects the Street Department parcel adjacent to BobbyJohn, LLC's property. Without the easement in place, appraisals show the parcel has a value of $500,000; with the easement bisecting the property, it has a value of $0. The CRC does not own the Street Department property. The City of Carmel owns the property. By entering into an agreement with BobbyJohn, LLC, the Street Department property will now have value. Discussion ensued. Mr. Olds explained the warehouse space will be used as storage for various CRC projects as well as event storage. The building is also being evaluated for the option to convert part of the building into artists' lofts. Ms. Anker clarified that the option to purchase was an option, not an obligation. Moved for approval by Mr. Hammer and seconded by Ms. Anker. The motion passed unanimously. Contract for Vendor Power Mr. Olds stated that bids were received at a previous CRC meeting and that Stenz, the Construction Manager, has recommended the award for the contract for the base bid only be awarded to LaFever Electric. In addition to that, there will be additional expenses for construction management services, reimbursable expenses, etc. The contract for LaFever Electric with the additional costs is $103,645, subject to available funding. The belief is that the electrical cabinets will almost entirely eliminate the renting of generators for Arts Design District events. The P. 47 Arts District Lofts Shoppes project will include additional cabinets incorporated in the streetscape package planned for 2 Ave. NW. No alternates were included because of time and costs. Discussion ensued. Moved for approval and seconded by Ms. Anker. The motion to approve a contract with LaFever Electric in the amount of $103,645, subject to available funding was unanimously approved. New Business 3 CRC Meeting June 17, 2009 Museum of Miniature Houses Grant Mr. Olds referenced a request from the Museum of Miniatures for a grant for the construction of the remodeling and new addition to their facility. The requested grant is not to exceed $30,000. This is a similar grant to the Fire Buffs Museum grant given by the CRC several years ago. Moved for approval by Mr. Hammer and seconded by Ms. Anker. The motion to approve a grant in the amount of $30,000 to the Museum of Miniature Houses and Other Collections, Inc. was unanimously approved. SEP Lease (P. 7C) Mr. Haas explained the office building was an integral component of the black box theater of the 7C project. SEP will lease the top two floors of the four -story building. This is a key piece for the office building and the overall financing of the project. A Community Development Corporation will be the landlord for SEP to facilitate the financing. The CRC needs to approve the lease, subject to the satisfaction of exhibits and completion of documentation of the CDC, and the CDC getting its construction financing in place. Mr. Olds explained the Parcel 7C location, layout and timeline in regards to the office building and black box theater. Mr. Hammer moved for approval and seconded by Ms. Anker. The motion to approve the SEP lease in substantially final form was unanimously approved. Other Business No other business at this time. Announcements No announcements at this time. Adjournment Mr. Hammer moved the meeting be adjourned and seconded by Ms. Anker. The meeting was adjourned at 7:35 p.m. The next regularly scheduled meeting is Tuesday, July 21, 2009 at 6:30 p.m. 4