182668 02/17/2010 CITY OF CARMEL, INDIANA VENDOR: 363909 Page 1 of 1
ONE CIVIC SQUARE VILLAGE FINANCIAL, LLC
=I' CHECK AMOUNT: $125,000.00
CARMEL, INDIANA 46032 ONE PEDCDR SQUARE
770 3RD AVE SW CHECK NUMBER: 182668
CARMEL IN 46032
CHECK DATE: 2/24/2010
DEPARTMENT ACCOUNT PO NUMBER INVOICE NUMBER AMOUNT DESCRIPTION
902 4460807 20110 125,000.00 PERFORMING ARTS CENTE
s
f c
VILLAGE FINANCIAL, LLC
One Pedcor Square
770 3rd Ave. SW
Cannel, Indiana 46032)
February 1, 2010
The City of Carmel Redevelopment Commission
Attention: Les Olds
INVOICE
Due: March 1, 20:10
Charge Date Item Amount
03 /01 /10 Administrative Fee to Village Financial $6,250.01
03/01/10 Projected Installment Purchase Obligation '$118,750.00
Adjusted Quarterly Fee to Mercantile Bank
Offset /Addition Amount* (0.01
Total Amount Due 125,000.00
*Variance from prior Projection Notice and actual December payment due.
If you would like payment debited from your Mercantile loan accounts please complete attached
disbursement forms and send to Mike Branigan or Dave Weber at the following address:
Mercantile Bank
Attn: Mike Branigan or Dave Weber
12813 East New Market Street
Carmel, IN 46032
If paying by check, please send check to Mike or Dave at same address.
Projection Notice Backup to CRC
PAC Equipment loans
First Quarter 2010
February 1, 2010
Payment Due Date: March 1, 2010
Beginning Date Ending Date
Dates 12/0J/09 2/28110
Administrative Fee Rate (to Village Financial) 0.06%
Projected Interest Rate 4.75%
Projected Quarteriv Fee Rate (to Lender) 1.13750
Loan Contract Amount Advanced Funds Past Disbursements New Disbursements Remaining Balance
PAC Equipment 47,515,800.00 $7,515,800.00 595,950.84 5548,126.00 56
PAC Sound Eqp $1,649,004.00 $1,649,004-00 $240,567.70 $49,675.00 $1.358,761,30
PAC Fixed Sealing 4835,196.00 $835,196.0 $$10,680.35 583,350,00 $741,165.65
PAC Equipment. 4 000(UUU
Date Description Amount 4 of Days Projected interest
8/31109 Fully Ftmd Loan $7,515,800.00 90 $89250.13
Beginning Balance $0.00
Advanced Funds $7,515,800.00
Administrative Fee 54,697.38
Projected interest $89,250.13
Adjusted Quarterly Fee 50.00
Total Due $93,947.51
PAC Sound Eqp
Date Description Amount #1 of Days Projected Interest
8/31/09 Payment fee to Village Financial 5100,000.00 90 51,287.50
8/31/09 Lender fees and Loan costs $119,500.00 90 $1.419.06
8131/09 Fully Fund Loan $1,429,504.00 90 $16,975.36
Beginning Balance 50.00
Advanced Funds $1,649,004.00
Administrative Fee S1.030.63
Projected Interest S19,581.92
Adjusted Quarterly Fee $0.00
Toutl Due 820.612.55
PAC Fixed Seating
Date Description Amount q of Days Projected Interest
8/31/09 Fully Fond l,ouri 5835,196.00 90 $9,917.95
Beeiruting Balance 50.00
Advanced Funds $835,196.00
Administrative Fee 5522.00
Projected Interest $9,917.95
Adjusted Quarterly Fee 50.00
Total Due $10,439.95
Total Administrative Fee $6,250.01
Total Projected Interest. $118,750.00
Total Adjusted Quarterly Fee $0.00
Offset Adjustment ($0.01
TOTAL DUE 311/2010 $125,000.00
Calculation Key
Administrative Fee (To Village Financial): Loan Balance TM Projected Administrative Fee Rate
Adjusted Quarterly Fee (To Lenderl: Projected Quanzriy Fee Ratc ".Advanced Funds Accrued Interest
Village Financial, LLC
Offset Account Summary
Due Date Account From City To Bank Difference
1211/09 PAC Equimpment $91,233.46 $91,233.46 (,SOM)
Sound Equipment $20,017.08 $20,017.07 (S 0 0 1
Fixed Seating $10,138.35 $10,138.35 ($0M)
CITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO. 2009- /0
The Cityof 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:
Components of Concert Hall (Parcel 7h);
500 -seat Main Stage Theater (Parcel 7C);
200 -seat Black Box Theater (Parcel 7C);
623 -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 replace 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 bythe Cityof Carmel Redevelopment Commission this dayof December, 2009,
by a vote of ayes and O nays.
CITY OF CARMEL REDEVELOPMENT COMMISSION
By:
Ronald E. Carter, President
By:
r ill'am Fa m i a P,, es' ent
By
arol nker, Secretary
By:
B y
Thomas Crowley
CRC Meeting, December 16, 2009
Mr. Worrell moved for approval. Seconded by Ms. Anker and unanimously approved.
New Business
TEFRA Hearing
Mr. Haas explained the hearing is required by the Internal Revenue Code with respect to
certain obligations the Commission may incur that are intended to be tax exempt.
Mr. Carter opened the public hearing and stated it was adjourned until the next regular
CRC meeting on Wednesday, January 20, 2010 at 6:30 pm.
Installment Contracts Related Agreements
Mr. Haas explained the resolution authorizing the President of the Commission to
execute on behalf of the Commission installment purchase contracts with respect to
several projects including components of the concert hall, 500 -seat Main Stage Theater,
200 -seat Black Box Theater, 624 -space Parking Garage, remaining live -work units and
streetscape /street improvements. The resolution also authorizes the President to enter into
the necessary documents with the developers who are selling those projects to the
Commission to be able to obtain financing on better terms which results in lower prices
for the Commission. The prices paid by the Commission will not exceed the average
appraised values of the properties or improvements to be acquired by the Commission.
The remainder of the resolution relates to the Office Building in which SEP will be a
tenant, which also houses the black box theater. The Carmel City Center Community
Development Corporation will obtain a loan and the CRC will agree to make grants to
that Corporation under certain conditions.
Mr. Worrell moved to approve a resolution approving 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:
1. Components of Concert Hall (Parcel 7A)
2. 500 -seat Main Stage Theater (Parcel 7C)
3. 200 -seat Black Box Theater (Parcel 7C)
4. 624 -space Parking Garage (Parcel 7C)
5. Remaining Live -Work Units (Parcel 16); and
6. 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 improvements being acquired (and with the acknowledgement
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);
3
Qreslribed GY State Board of Accounts ACCOUNTS PAYABLE VOUCHER City Form No. 207 (Rev. 7995)
i"
CITY OF CARMEL
An invoice or bill to be properly itemized must show: kind of service, where performed, dates service rendered, by
whom, rates per day, number of hours, rate per hour, number of units, price per unit, etc.
Payee
Purchase Order No.
S, v P
�7U �rr� fr�P. Sfr/ Terms
Ga Date Due
Invoice Invoice Description Amount
Date Number (or note attached invoice(s) or bill(s))
74- A'ry�sr°
Total 12
1 hereby certify that the attached invoice(s), or bill(s), is (are) true and correct and I have audited same in accordance
with IC 5- 11- 10 -1.6.
20
Clerk- Treasurer
VOUCHER NO._ ,_WARRANT NO.
ALLOWED 20
c IN SUM OF
U/j P 9 r 4' J fJ Uqi r
ON ACCO F APPROPRIATION FOR
07
Board Members
PO# or INVOICE NO. ACCT #/TITLE AMOUNT I here certify that the attached invoices or
DEPT. hereby Y invoice( s),
_Z d bill(s) is (are) true and correct and that the
materials or services itemized thereon for
which charge is made were ordered and
received except
20 /o
Djmctot'4NbVmiopment
Title
Cost distribution ledger classification if
claim paid motor vehicle highway fund