HomeMy WebLinkAboutCRC-2009-10 CRC Commission Execution Authority CITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO. 2009- /0
The City of Carmel Redevelopment Commission authorizes the President of the Commission
(or, in his absence, the Vice President of the Commission) to take such action and execute such documents
as may be necessary or appropriate: (a) for the Commission, in accordance with IC 36 -7 -14 -12.2, to acquire
by installment purchase, the following real properties and Improvements:
A 01
Components of Concert Hall (Parcel 7
500 -seat Main Stage Theater (Parcel 7C);
200 -seat Black Box Theater (Parcel 7C);
6) -space Parking Garage (Parcel 7C);
Remaining Live -Work Units (Parcel 16); and
Streetscape and Street Improvements;
in each case, at a base purchase price that does not exceed the average appraised value of the real property
and/or improvement being acquired (and with the acknowledgment that interest will accrue and be payable
on the unpaid balance of the base purchase price until the base purchase price is paid in full); (b) to facilitate
the developers of the foregoing real properties and improvements obtaining (and lenders or investors
providing) financing for the foregoing real properties and improvements on beneficial terms and conditions,
including giving the consent of the Commission to the assignment of one or more Installment purchase
contract as collateral for lenders and/or for participation by investors, in any case on an individual basis or as
part of a pooled loan or investment program; (c) to restate and repine the existing installment purchase
contract for the -space Parking Garage (Parcel 47); provided that the economic terms and conditions of
the restated replacement contract are no less beneficial to the Commission than the economic terms and
conditions of the existing installment purchase contract; and (d) to facilitate Carmel City Center Community
Development Corporation "CCCCDC acquiring (and financing the acquisition of) the land that comprises
Parcel 7C and constructing (and financing the construction of) the Commercial Office Building (Parcel 7C),
including a limited commitment by the Commission to make grants to CCCCDC as may be necessary or
appropriate for CCCCDC to obtain financing for such building and on beneficial terms and conditions.
Passed by the City of Carmel Redevelopment Comm ission this day of December, 2009,
by a vote of 1 1 ayes and 0 nays.
CITY OF CARMEL REDEVELOPMENT COMMISSION
Y
R onald E. Carter, President
By:
illiarn H m I e-P es'Gent
BY
arol ker, Secretary
i 1
By: �I /111
i ce/'
Aff
By. /r l
Thomas Crowley