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2004-Amended/Integrated Economic Dev.Plan
Carmel Redevelopment Commission Carmel, Indiana 2004 Amendment: Integrated Economic Development Plan Amended Redevelo p ment Plan Integration Consolidation of Economic Development Redevelopment Areas of the City of Carmel originally passed January 31, 2000 amended February 10, 2004 (2004 amended text is printed in 11 pt arial font for identification purposes) �IlfL l') Seil 1�O7O© Michael R. Shaver, President 3799 Steeplechase Drive Carmel, IN 46032 (voice) 317/872 -9529 (fax) 317/872 -9885 (e -mail) wabsci@aol.com (To facilitate Purpose of the 2004 Amendment review of the 2004 Amendment The purpose of this 2004 Amendment to the Integrated Economic to the Integrated Development Plan and Amended Redevelopment Plan (the 2004 Economic Amendment) is to acknowledge the accomplishments of the Carmel Development Redevelopment Commission (CRC), and to bring this planning document Plan, the base up to date in terms of development policy and vision. text of the 2004 amendment is The economic development planning effort which began in 1997 has printed in arial accomplished many of its original goals. The individual ED Areas have 11 pt. font, as generated new development, and the original RD Area has undergone a contrasted with major change in character and occupancy. The CRC acted in the year times new roman 2000 to integrate and consolidate the economic development planning 12pt font for the and redevelopment planning for the City of Carmel. Since 2000, there original base text) has been much additional progress, and 2004 affords CRC and the community an advantageous time to consider its previous successes, adjust its vision in light of new realities, and set new development policy. This document is deliberately integrated with the previous (2000) document, in order to allow any reader the opportunity to see both the past and the present at one time. Due to this structure, the document is somewhat more cumbersome and intimidating, however, it is also far more complete, hopefully allowing the City and the CRC to manage the distribution of public information on this topic much more effectively over the long term. The itemized purposes of this 2004 Amendment are as follows: 1. To redefine and re- integrate the boundaries of the ED/RD Areas as a result of economic growth and developmental success. 2. To identify and acknowledge the primary developmental stimuli of the community in terms of future development. 3. To re -focus economic development and redevelopment policy based on the knowledge gained from previous activities, as well as new initiatives and opportunities which might benefit the City. 4. To revise and affirm the list of anticipated projects and activities which the CRC is expected to face in the near future, as well as adjusting the estimated project costs. 5. To develop a clear developmental and fiscal policy with respect to the developmental relationships between various ED and RD Areas and the importance of the City Center as the focal point of the City 2004 Amendment to the Integrated Economic Development Plan 2 Amended City Center Redevelopment Plan (2/10/04) in terms of government, as well as the arts. 6. To officially affirm the integration of all ED RD Plans and to incorporate all previous ED /RD Plans by reference into this 2004 Amendment. Two Primary Developmental Stimuli The 2004 Amendment hereby categorically states that the two primary stimuli for development of the city of Carmel as it moves forward are expected to be: 1. The development of the City Center and its adjunct facilities as the central focus of the city's arts and cultural activities, as well as its current focus as the center of local government. 2. The improvement of the US31 corridor as a limited access freeway, increasing traffic volumes, as well as handling increasing traffic loads more efficiently and effectively. It is the position of the CRC that these two developmental stimuli will dominate the economic development and redevelopment of the City of Carmel for the foreseeable future. 2004 Amendment Update: Overview The Carmel Redevelopment Commission (CRC) is pursuing this 2004 Amendment of the Integrated Economic Development Plan for the City of Carmel for the purpose of assuring continuous coordination of the activities of the CRC with other city boards and agencies. The need for this 2004 Amendment is the happy result of substantial progress by the CRC in achieving many of the original goals for revitalizing the central portions of the City of Carmel. To put the matter bluntly, much progress has been made, and in the wake of that progress, it is entirely appropriate for the City and the CRC to evolve its goals and projects to meet the evolving needs of the community in the central city area. When the original Economic Development Plans (ED Plans) were drafted, the CRC was encouraged to take a conservative approach. In response, a few major projects were identified and funded in the various ED Areas that were created in and around the central city area. However, as each project was completed, the City and the CRC were rewarded with new economic growth. As each new project was completed, it seemed that a 2004 Amendment to the Integrated Economic Development Plan 3 Amended City Center Redevelopment Plan (2/10/04) second project was stimulated, and it is the accumulation of more than 6 years of economic development success that necessitates this 2004 Amendment. Separate ED Areas Have Grown Contiguous When the CRC began this ED Planning process in 1997, the CRC designated several ED/RD Areas which were distinct and separate, but which were located in the area between the US31 corridor and the Rangeline Road corridor. At that time, the CRC took a conservative position with respect to both the size of the ED RD Areas and the projects to be undertaken. The CRC could clearly see the purpose of creating these ED RD Areas, but it was difficult to predict the speed with which the various development projects would occur. Since that time, a great deal of progress has occurred. The central portions of the City have enjoyed a long list of new developments, including new office buildings, new apartment complexes and the removal of blighted properties. These successes have caused the ED RD Areas to grow to the point that they have become largely contiguous with one another, and the projects which are necessary to continue the progress have become largely overlapping. The purpose of this 2004 Amendment Update to the Integrated ED Plan is to enable the CRC to assure that its work remains functional and relevant to the developmental interests of the City, even as the boundaries between the ED RD Areas become less clearly defined. City Center Projects "Directly Benefit" All ED Areas The CRC hereby asserts its conclusion that the projects contemplated for the City Center Redevelopment Area "directly benefit" all of the city's ED Areas. The portions of Carmel which comprise the City Center Redevelopment Area represent some of the oldest business development in the City. In most cases, cities refuse the tackle the complexities of redevelopment of older commercial areas, and the result of that refusal is that older commercial areas decay beyond the point of reincarnation. Time and again, in city after city across America and in Indiana older central business districts are allowed to decay into economic dysfunction. And time and again, community leaders in those cities eventually come to realize that a healthy and vibrant downtown is essential to every city. 2004 Amendment to the Integrated Economic Development Plan 4 Amended City Center Redevelopment Plan (2/10/04) Unfortunately, this realization generally occurs too late, and the redevelopment process is made more expensive and far more difficult. Carmel Leaders refused to allow this general urban phenomenon to occur in their City. In this case, the Mayor, City Council and the CRC undertook the planning and development efforts to stop the blight in the City Center RD Area from decaying further. While the first phases of the City Center redevelopment effort were mainly exploratory, the City is now reaching a level of success where the City Center can be permanently established as the social, cultural, and economic heart of Carmel. As such, the CRC hereby states its assertion that because the City Center RD Area represents a significant part of the City's original commercial area the City Center Redevelopment Projects are ienerally considered to directly benefit all of the ED RD Areas of the City. The CRC will therefore consider undertaking projects in the City Center Area using TIF and other revenues which originate from other ED Areas from time to time. When the CRC began the initiative to revitalize the central city area, the Rangeline Road corridor was beginning to decline. Property ownership was fragmented in important developmental areas and new investment for redevelopment was difficult to attract. Although the City was committed to the creation of a vibrant downtown area, it was clear that the process of redevelopment would take time. Projects were originally identified to directly benefit specific ED Areas. For example, improvements to the Pennsylvania Avenue Corridor were specifically designed to support new development along Pennsylvania Avenue, while the Streetscape improvement project in Old Town was specific to that neighborhood, and projects to encourage redevelopment in the City Center were concentrated on amassing the parcels and tracts necessary to accomplish the long term vision for the redeveloping the City Center. However, as the economic development and redevelopment process has evolved in Carmel, it has become increasingly clear that the various ED RD Areas are inter dependent, and are no longer functionally separate, especially with regard to the City Center. It is therefore the stated policy position of the CRC that the projects contemplated for the City Center Redevelopment Area do directly benefit the other ED Areas of the City. The intent of this policy is two -fold: first, to enable the CRC to capture TIF revenues from other ED Areas for use in the remaining City Center projects; and second, to affirm the importance of a vibrant and healthy 2004 Amendment to the Integrated Economic Development Plan 5 Amended City Center Redevelopment Plan (2/10/04) downtown area to the City, at large. Changes in ED RD Area Boundaries This 2004 Amendment will propose changing the boundaries of several of the ED RD Areas of the City of Carmel. In some cases, parcels will be deleted from the ED /RD Area and in other cases, parcels will be added. In each case, the boundary changes will be explained and shown by the CRC for public review and input. The purpose of the boundary adjustments will be to enable the CRC to capture new development -based revenues, to encourage economic development or redevelopment, and/or to enable the CRC to plan and implement various economic development and redevelopment projects in and around the city. The ED Areas where boundary changes will occur are as follows: 1. Amendments to the boundaries of the Integrated 126 Street Corridor ED Area to include new and potential development opportunities within the ED Area. 2. Inclusion of the Pennsylvania South ED Area into the 126 Street Tax Allocation Area. 3. Amendment to the Old Town ED Area, deleting certain parcels from the ED Area, and designating a part of the Old town ED Area as a tax allocation area. 4. Amendment to the City Center RD Area, to include parcels along Rangeline Road which may require acquisition by the CRC in order to facilitate further redevelopment of the general downtown area. 5. Amendment to the North Illinois Street ED Area to include the C- 210 Annexation Area as part of the ED Area in order to facilitate the funding of roadway improvements which are necessary as a result of that annexation action (without including the C -210 area in the tax allocation area). 6. A second Amendment to the Illinois Street ED Area to include property along the west side of the US31 corridor in order to facilitate the construction of the Illinois Street corridor as new development occurs, and inclusion of this new territory in the tax allocation area (with recognition of separate agreements relating to development of the Clarion site). 2004 Amendment to the Integrated Economic Development Plan 6 Amended City Center Redevelopment Plan (2/10/04) 7. Amendment to the Plum Creek/Hazel Dell Parkway ED Area (a.k.a. Hazel Dell North ED Area) to include new and potential development along the Hazel Dell road corridor, as far north as 146 Street, as well as the designation of the amended ED Area as a tax allocation area. 8. Amendment to the 96 Street /Hazel Dell Parkway ED Area (a.k.a. Hazel Dell South ED Area) to include new and potential development along the 96 Street corridor, and the designation of the entire, amended ED Area as a tax allocation area. 9. Expanding the boundaries of the Old Meridian ED Area to affirm the original intent of the CRC to include annexed territory, and amending the project list in the ED Plan to include the CRC policy that new economic growth in the Old Meridian area which generates TIF revenues can be captured for the benefit of City Center projects, including cultural and arts facilities, and designation of the ED Area as a tax allocation area. Changes in ED RD Projects Costs This 2004 Amendment to the ED RD Plans for the City also proposes changes to the projects proposed for ED RD Areas. Many of the projects which were originally proposed have now been completed. Other projects have been altered by the other development which has occurred in the ED /RD Areas. In some cases, the scope, nature or cost of the proposed projects has been altered in some manner, thereby compelling the CRC to update their preparations. Consideration of Other City Initiatives This 2004 Amendment will also consider the addition of new data, planning material, and/or other studies which relate to the activities and mission of the CRC. In the period since the previous update (2000), the City has undertaken a number of initiatives, ranging from development of an area plan for Old Meridian, to settlement of a dispute regarding the northern section of the Illinois Street Corridor, to planning for improvements to thoroughfares in the City Center Area, as well as thoroughfares feeding traffic into the City Center Area. 2004 Amendment to the Integrated Economic Development Plan Amended City Center Redevelopment Plan (2/10/04) The CRC will review these initiatives to determine their impact on the mission of the CRC and any necessary adjustments to the CRC's proposed project list. Where appropriate, the CRC will adjust its planning to reflect these initiatives and their impact on the mission of the CRC. Central Importance of City Center Projects The CRC wishes to further state and emphasize that it believes that its most singularly important mission is to secure the future economic health of the older commercial areas of the city, especially the City Center Area. While the CRC has many missions and initiatives throughout the City, it is the express policy of the CRC that the CRC considers the final stage of improvements to the City Center to be the most singularly critical to the future of Carmel. The City Center RD Area was designated for the express purpose of redeveloping that area into the civic and cultural center of the City. Those bold plans envisioned such things as a center for performing arts, as well as other cultural, tourist, civic and community activities. From the beginning, the City Center was to be a combination of high- density housing, intense commercial development, and community- activity venues. Those plans have not changed. In fact, they have become more vibrant. Members of the CRC as well as other community leaders have seen other cities neglect their downtown areas to their own long -term chagrin. Carmel is determined to avoid that mistake. It is a well accepted axiom in urban development that the central areas of a city are critical to its long- term health. Because of these considerations, the CRC hereby states that the City Center projects will be viewed as having the highest priority and the most central importance of all projects in all of the ED /RD Areas of Carmel. Introduction The following introduction is offered as a means of "setting the stage," for the actions recommended in this Integrated Economic Development Plan (EDPIan). The 126 Street Economic Development Area is a critical area for the future of Carmel. This area contains the City's primary business /office /industrial development, and it represents a substantial portion of the city's non- residential property tax base. As a result of its importance, the 126 Street Economic Development Area (126 EDArea) has received a great deal of development since the original action to create 2004 Amendment to the Integrated Economic Development Plan 8 Amended City Center Redevelopment Plan (2/10/04) the EDArea. A Pathway of Self Discovery 2004 Amendment: In 2003 -04, the CRC re- assessed its progress to date, as well as its evolving needs and expectations with regard to the completion of projects for the City Center Redevelopment Area, as well as other Economic Development Areas in the Integrated Plan. The result of that re- assessment was the realization that the CRC had accomplished a great deal in the first 6 years of its work. A number of important public sector projects had been accomplished, such as completion of the Monon Corridor, as well as other projects, with more refinement of plans for other public sector projects. In addition, a substantial amount of land had been acquired and re -sold into the private sector, resulting in a dramatic change in the landscape of the City Center area. New restaurants, retail stores, upscale high- density housing and other new development had already occurred and more projects are either under construction or in the planning stages. But the issue that was most clear to even the casual observer was that the City Center project was effectively functioning as a stimulus for new development and redevelopment throughout the City's core area. In fact, the economic activity since the CRC's original planning effort of 1997 has shown to the entire community that the 'city's center' is actually much larger than it was thought to be in 1997. Although the CRC designated a small area near Rangeline Road and 126 Street as the City Center Redevelopment Area in 1998, the CRC has learned that the actual `center of the city' as it has evolved since that time, is an area which effectively stretches from 116 Meridian, to 116 Keystone, north to Carmel Drive, west to Rangeline Road, north to 131 Main and then west to Meridian. The CRC has learned through its own experience that the `center of the city' for the 21 century is much, much larger than the "old downtown" or the acreage around the Carmel Government Center. The map will show that the 'city center' is an area which is every bit as economically integrated as the CRC envisioned when it created its "Integrated Economic Development Plan" an area which has become the economic engine of the City. This 2004 effort to amend and update the Integrated Economic Development Plan Redevelopment Plan will serve to recognize the accomplishments of the CRC and the City and then begin the planning for further action to prepare Carmel for success in the 21 century. This amended "2004" Integrated Economic Development Plan is intended to serve as the platform for the CRC over the next 5 years, and beyond. The CRC will take a series of steps to carefully examine each economic development and redevelopment area, adjust their boundaries, goals and projects, and then prepare to move forward with a single, unified plan for 2004 Amendment to the Integrated Economic Development Plan 9 8 Amended City Center Redevelopment Plan (2/10/04) unification of a much larger developmental vision. Summary of Previous Actions The following summary explains the motives and actions undertaken prior to the development of this Plan. The summary will summarize the actions previously taken by the Carmel Redevelopment Commission (CRDC) with regard to the creation of economic development areas and redevelopment areas in the central part of the city. Please note that the following narrative does not address either the Merchant's Square area or the economic development area(s) created to support the financing for the Hazel Dell Parkway project, because these projects are not integral to the economic development activity in the central parts of the City. In all, the CRDC created four economic development areas and a redevelopment area, as well as amending the 126 Street EDArea to include more territory. Map #1 supports the following narrative. THE OLD TOWN 126 STREET ECONOMIC DEVELOPMENT AREAS: The 126th Street Corridor Economic Development Area was created by the Carmel Redevelopment Commission, with the affirmation of the Plan Commission and City Council, during the summer of 1997. The Economic Development Plan which documented the creation of the 126 Street Corridor Economic Development Area was officially named the "Economic Development Plan: Old Town /126` Street Corridor Economic Development Areas." It is clear from the title that the original Economic Development Plan created two Economic Development Areas simultaneously, each with its own documented findings and justification through previous editions of the comprehensive plan. The Old Town EDArea was formed for the purpose of supporting streetscape and other improvements to the Old Town area of Carmel. This area represents the oldest developments in Carmel, including the old downtown area, adjacent to the intersection of 131 Street and Rangeline Road, which was once the developmental center of Carmel. The Old Town EDArea was not contiguous with the 126 Street EDArea. The 126 Street EDArea was formed to support the extension of the 126 Street corridor from Rangeline Road, westward into the Science Technology Park. By completing the 126 Street corridor in this manner, the city consolidated its thoroughfare system such that the Science Technology Park and the US31 corridor were more efficiently linked with 2004 Amendment to the Integrated Economic Development Plan 10 Amended City Center Redevelopment Plan (2/10/04) the City Center area.. At the time these areas were created, the primary financing for the proposed improvements was provided by a COIT -based Redevelopment Authority bond, and no action was taken to create /designate a tax allocation area for TIF purposes. 2004 Amendment regarding Old Town: The first action of the CRC in this renewed planning effort will be to recognize the fact that the Old Town ED Area which was originally conceived for the purpose of revitalizing the infrastructure of the old downtown of the original 'town of Carmel' is developmentally linked to the City Center. No project can realistically take place at the City Center without affecting the Old Town and 126 Street ED Areas. Therefore, the CRC must accept and advance the notion that parts of the Old Town ED Area must be redeveloped, just as was done in the City Center RD Area. As the first step toward that recognition, it is being recommended that the CRC remove a portion of the Old Town ED Area in order that this same territory can be added to the City Center RD Area for land acquisition and redevelopment purposes. It is suggested that the CRC consider acquiring land inside this area in order to accomplish its goals for redevelopment and economic development within the larger 'center of the city' which people are beginning to understand. In addition, it is recommended that the CRC designate the AMLI development, near 3rd Avenue SW and Main Street, as a tax allocation area within Old Town, in order to capture property tax increment from these new developments. In addition, the ED Plan is hereby formally amended to state that it is the policy of the CRC that arts and cultural projects within the City Center RD Area are considered to directly benefit the Old Town ED Area. PENNSYLVANIA ST. NORTH SOUTH ECONOMIC DEVELOPMENT AREAS: At the same time as the 126 St. EDArea was created, the Carmel Redevelopment Commission (CRDC) also approved the creation of the Pennsylvania Street North Economic Development Area (Penn North) and the Pennsylvania Street South Economic Development Area (Penn South). The purpose of creating these two areas was to support the widening of the Pennsylvania Street corridor in order to: handle greater traffic flow; to serve new development which would occur once the corridor was complete; and to accommodate the long term development of a limited access freeway facility along US31. In the long term scenario, the improved Pennsylvania Street corridor would provide thoroughfare service to the east side of the US31 corridor, while a similar corridor 2004 Amendment to the Integrated Economic Development Plan 11 Amended City Center Redevelopment Plan (2/10/04) would be developed on the west side of US31 to provide access on that side. It was necessary to create two, separate EDAreas because a portion of the corridor had not been incorporated into the City of Carmel. The Pennsylvania Street EDAreas were not officially designated as tax allocation areas for the purpose of TIF financing support. The improvements to the Pennsylvania Street corridor were to be undertaken using the same COIT -based Redevelopment Authority bonds that were used for the 126 Street project, and Hazel Dell Road. 2004 Amendment: The Pennsylvania corridor now possesses a much clearer and more important function, due to the clear presentation of INDOT's plans to make US31 into a freeway design. When the CRC originally created the ED Areas that supported the Pennsylvania Corridor, the prospect of a freeway for US31 was considered long -term conjecture. But with the public release of the DEIS for the US31 upgrade, it is clear that the CRC's actions of 1998 and 2000 were visionary. It is Camrle's developmental goals that, on the first day of construction of a US31 freeway, the City of Carmel will be fully prepared to make its transportation system function efficiently, due largely to its planning and provision of service corridors at Pennsylvania and Illinois Streets. Therefore, for 2004, the CRC will include the entire Pennsylvania Corridor (including a previously un- designated area near Old Meridian), as well as 5 other tracts contiguous with the ED Area, into the Integrated 126 Street ED Area, as well as the tax allocation area. In addition, it is recommended that the amended boundaries also include all other undeveloped and under developed parcels along the Penn Corridor in order to optimize TIF revenue capture as new development occurs. In addition, the ED Plan is hereby formally amended to state that it is the policy of the CRC that arts and cultural projects within the City Center RD Area are considered to directly benefit the Pennsylvania North South ED Areas. AMENDED 120 STREET ECONOMIC DEVELOPMENT AREA: The amended EDPIan for the 126 Street corridor dealt solely with the portion of the original Economic Development Plan (EDPIan) pertaining to the 126 Street Corridor. No portion of the Old Town Economic Development Area or Economic Development Plan was amended by that effort. The amendment action significantly enlarged the 126 Street Economic Development Area (126 EDArea) to the west, bringing most of the Science Technology Park into the EDArea. As a result of that amendment action, as shown in Map #1, the 126 Street EDArea abutted the Pennsylvania Street North Pennsylvania Street South EDAreas. 2004 Amendment to the Integrated Economic Development Plan 12 Amended City Center Redevelopment Plan (2/10/04) At the same time, the portion of the 126 Street EDArea surrounding the government complex was deleted from the EDArea for the purpose of creating a redevelopment area under Indiana law (see Map #1.) The amendments to the 126 Street EDArea were undertaken to enable the City to support the City Center project which was proposed and approved by the City to be implemented along the west side of Rangeline Road, south of 126 Street, and north of the government complex. The financing was to support the first phases (primarily land acquisition) of the City Center project, and the financial plan was to issue Redevelopment Commission/Authority bonds based on COIT revenues. The City also designated the 126 Street Economic Development Area, as amended, as a tax allocation area for TIF purposes. Incremental tax revenues from the allocation area would provide a revenue source which would be used to offset the payments from COIT. 2004 Amendment: The 126 Street ED Area is also recommended for boundary adjustment to capture some small, new developments which have occurred on the fringe of the ED Area. Since the CRC's original actions in 1997, the 126 Street ED Area has grown substantially, and it is time for the CRC to add new parcels to the ED Area in order to stimulate and capture future economic growth. In addition, the ED Plan is hereby formally amended to state that it is the policy of the CRC that arts and cultural projects within the City Center RD Area are considered to directly benefit the 126 Street ED Area. THE CITY CENTER REDEVELOPMENT AREA: The City Center Redevelopment Area was created to directly support the development of the City Center project. The City Center project is a multi- faceted proposal to include a mix of moderate to high- intensity commercial, retail, office, public and other space. The project was capable of accommodating such things as museums, performing arts, retail, office, residential and other types of development, and the long term intent was for the City Center project to identify and anchor this area as the business hub of the city, and to protect the long economic term viability of the area. The results of this action are also shown on Map #1. The City Center Redevelopment Area was also designated as a tax allocation area for TIF purposes. The primary financing for the initial phases of the City Center project was to come from a COIT bond, issued by the Redevelopment Commission/Authority. In this financing arrangement, the revenue source for repaying the bonds was COIT, while incremental tax revenue from the allocation area would provide a revenue source which would be used to offset the COIT cash flow. 2004 Amendment to the Integrated Economic Development Plan 13 Amended City Center Redevelopment Plan (2/10/04) 2004 Amendment: In 2004, the City and the Redevelopment Commission re- assessed the situation with regard to the integrated ED Area, as well as the City Center Redevelopment Area, and the projects related thereto. From the original creation of the City Center RD Area in 1998, through the amendments of 2000, and on through the current situation (2004), the Carmel Redevelopment Commission has accomplished many of the projects on the original agenda. In the 2000 amendment documentation, there was a breakdown of projects presented for approval at that time, and estimated costs. The table below attempts to identify an updated list of projects with estimated costs. project Minimum Maximum Estimate Estimate Performing Arts Center $35,000,000 $45,000,000 Art Museum $15,000,000 $20,000,000 Land Acquisition for Old Town Redevelopment $3,000,000 $5,000,000 Street Department Maintenance Facility $1,500,000 $2,000,000 Land Acquisition Along Rangeline Road $1,800,000 $2,000,000 City Center /Old Town Roadway Improvements $5,000,000 $10,000,000 Total Estimated Costs $61,300,000 $84,000,000 As of 2004, the Street Department Maintenance Facility has been relocated to another site, which is under construction. In addition, the Redevelopment Commission has acquired several parcels in pursuit of the individual projects under the City Center redevelopment umbrella, and has successfully redeveloped, or has supported the redevelopment of, several major parcels under private sector investment. To put the matter simply, the City Center Redevelopment Area looks very different today than it did in 1998. The CRC has made significant progress in revitalizing the City Center Redevelopment Area. Therefore, when the CRC reviewed its progress and charted its course for moving forward in 2004, the City re- assessed the progress on the original project list noting both the projects completed and the ones not completed as well as adding new projects which are intended to address the evolving needs of a growing and vital City Center Redevelopment Area. INITIAL FINANCIAL RESULTS IN THE REDEVELOPMENT AREA: The COIT bond which was issued to support the City Center 2004 Amendment to the Integrated Economic Development Plan 14 Amended City Center Redevelopment Plan (2/10/04) Redevelopment Area and its activities resulted in the acquisition of several parcels of land north of the Government Center, along the 126 Street corridor. Those parcels were fundamentally undeveloped prior to the creation of the RDArea. As a result of the acquisition and redevelopment of these parcels, however, the Redevelopment Commission realized a substantial developmental windfall. The AMLI development was recruited into the RDArea by virtue of the acquisition of land by the Carmel RDC. The RDC assembled the land and advertised for development proposals for this property, and as a result of that effort, the community realized a direct cash benefit of some $4 million for the purchase of the land, as well as the developmental benefits associated with future property tax increment. Please note that these parcels were previously undeveloped, despite their prime location, therefore, the ability of the RDC to recruit suitable development in conjunction with the City Center Redevelopment Plan was a major overall benefit to the community. 2004 Amendment: In the years between 1997 and 2002, the CRC's actions in the City Center RD area substantially reduced the incremental assessed value in the RD Area. This reduction was a necessary first step in order to achieve the economic growth which was originally envisioned. However, it is anticipated that, sometime in the 2004 -2005 time period, the CRC's tax increment scenario in the City Center RD Area will be reversed, and the City Center RD Area will become a major new source of incremental assessed value. As this emergence takes place, the CRC will be in a much better position to implement the last of its agenda for creating significant new public spaces within the City of Carmel's 'center' area, which are expected to serve as the rallying point of the City for the next century. Other 2004 Amendments In addition to the amendments inserted into specific sections of the 2000 Integrated ED Plan, this 2004 Amendment adds the following sections. HAZEL DELL NORTH (PLUM CREEK) HAZEL DELL SOUTH (96TH STREET) ED AREAS: This 2004 Amendment hereby amends the Hazel Dell North (a.k.a the Plum Creek ED Area) Hazel Dell South (a.k.a. 96` Street) ED Plans to state that it is the policy of the CRC that arts and cultural projects within the City Center RD Area are considered to directly benefit the Hazel Dell North South ED Areas. In addition, these two ED Areas are also to be designated as tax allocation areas. The boundaries of the Hazel Dell North (Plum Creek) ED Area are hereby amended to include the right of way of Hazel Dell Road, north of the existing ED Area as far north as 146"' Street, as well as the undeveloped parcels located at the 2004 Amendment to the Integrated Economic Development Plan 15 Amended City Center Redevelopment Plan (2/10/04) southwest quadrant of the intersection of 146 Hazel Dell. The project list for Hazel Dell North is also hereby amended to include potential investment of TIF revenues for intersection improvements at the entrances of new developments along 146 Street, at an estimated cost of $500,000 to $750,000. The boundaries of the Hazel Dell South ED Area are also amended to include parcels on the north side of the 96 Street corridor, from the existing ED Area, to include parcels as far west as the new Sipe Jeweler development (west of Keystone). In addition, the boundaries of the Hazel Dell South ED Area are also amended to include new commercial and apartment development north of the existing ED Area, along Gray Road. Similarly, the project list for the Hazel Dell South ED Plan is hereby amended to include potential investment of TIF revenues in the improvement of infrastructure (primarily roadways) along 96 Street to increase the efficiency of traffic movement entering and leaving the 96 Street corridor. Although such projects have not been precisely defined at this time, it is estimated that the TIF portion of such projects could cost between $600,000 and $1 million. NORTH ILLINOIS STREET ED AREA: AMENDMENT TO INCLUDE ANNEXED TERRITORY The North Illinois Street ED Area was designated by the CRC in February, 2002, for the purpose of capturing TIF revenues to support construction of the northern sections of the Illinois Street Corridor. In that ED Plan, the CRC noted that certain portions of the area designated were not within the incorporated limits of the City of Carmel, and therefore, could not be designated as part of the ED Area until the annexation process was complete. In addition, the entire ED Area, as amended, is to be designated as a tax allocation area. In the ensuing time period, these unincorporated areas have been annexed by the City of Carmel, therefore, the CRC hereby amends the ED Plan to reflect the boundaries originally covered in the Plan (but not included in the official designation), which can now be officially added to the ED Area due to annexation. NORTH ILLINOIS STREET ED AREA: C -210 AMENDMENT In 2003, the CRC was asked to assist in the effort to improve major roadway corridors in the C -210 annexation area by amending the boundaries of the North Illinois Street ED Area to include the C -210 annexation area. This process was initiated by the CRC in September, 2003, and was approved by the Plan Commission. This 2004 Amendment to the Integrated ED Plan hereby re- affirms the previous actions of the CRC with regard to the C -210 annexation area, and the C -210 ED Plan, as well as the project list that was approved at the time of the original (2003) action. NORTH ILLINOIS STREET ED AREA: CHANGES TO ADD THE ILLINOIS CORRIDOR Amending boundaries to include the full corridor: This 2004 Amendment to the Integrated ED Plan also includes changes to the boundaries of the North 2004 Amendment to the Integrated Economic Development Plan 16 Amended City Center Redevelopment Plan (2/10/04) Illinois Street ED Area to include territory necessary to develop and construct the Illinois Street Corridor, from 136`'' Street southward to 103" Street (see map). The original ED Plan (2002) went to some lengths to explain that the "North Illinois Street" designation was the first phase of what was expected to be an ED Area designation for the entire Illinois Street corridor, as proposed here. The entire Illinois Street Corridor ED Area will also be designated as a tax allocation area (not including the C -210 amended area). Amending the Name of the ED Area: This 2004 Amendment, therefore, also amends the name of the ED Area to the "Ner-th Illinois Street ED Area" (deleting the word "north to more accurately represent the full ED Area designation. Amendment to include support for City Center: This 2004 Amendment hereby amends the North Illinois Street ED Plan (now referred to as the Illinois Street ED Plan) to state that it is the policy of the CRC that arts and cultural projects within the City Center RD Area are considered to directly benefit the Illinois Street ED Areas. Amendment to the ED Plan Project List: The project list contained in the original ED Plan is also amended to include the cost of construction of the Illinois Street corridor, from 131 Street, south to 103" The estimated cost of constructing this corridor will vary widely, depending upon the amount of developer /private funding (related to development of sections of the corridor), the amount of state /federal funding available (due to the US31 freeway project), and the amount of TIF revenue generated by new development within the amended boundaries (TIF expenditures will be limited by TIF revenues). Due to the variables cited, the estimated cost of constructing the Illinois Street corridor could range from $2 million to $10 million, depending upon the interrelated actions of project variables. This project is added in addition to the potential support which might be extended to the City Center arts and culture projects, as explained in a separate section, above. Recognition of the Clarion Agreements: It is the CRC's intent that this ED Plan in no way alters the specific agreements between Clarion and the City for development of the Clarion site at 116thb Street. The clarion site development was undertaken with recognition that the Illinois corridor would be constructed, and separate legal and financial agreements were made with respect to the Clarion development that this ED Plan does not supercede. OLD MERIDIAN ED PLAN AMENDMENTS This 2004 Amendment hereby amends the Old Meridian ED Plan to state that it is the policy of the CRC that arts and cultural projects within the City Center RD Area are considered to directly benefit the Hazel Dell North South ED Areas. Beyond the inclusion of the potential for using TIF generated in the Old Meridian ED Area in the City Center (for arts and cultural projects), the Old Meridian ED Area boundaries are amended to include the previously unincorporated areas identified in the ED Plan and cited as being necessary to include in the ED Area, 2004 Amendment to the Integrated Economic Development Plan 17 Amended City Center Redevelopment Plan (2/10/04) once the annexation of these areas is complete, and the entire ED Area is to be designated as a tax allocation area. Purpose of this (2000) Amendment Action The purpose of this amendment to the 126 Street Corridor Economic Development Plan is to clarify and coordinate all of the previous actions into a single, integrated plan. Map #1 shows all of the previous economic development and redevelopment areas created to support the efficient and effective development of the central part of the City of Carmel. The purpose of this Amendment Action (Amendment #2) is to present the public and the various city agencies and elected officials with a single, integrated plan that shows what has happened within these ED Areas and also shows what is proposed to happen over the next 10 -20 years. 2004 Amendment: The purpose of this 2004 amendment is to clearly and publicly measure the progress which the City and the CRC has made toward its original goals of 1998, and to set forth the framework for the projects which are intended to address the future of the City. PROPOSED ACTIONS: This Amendment #2: Integrated Economic Development Plan undertakes the following specific activities (see Map #2): 1. To consolidate three (3) of the economic development areas within the central part of the City into a single, integrated economic development area, as follows: Pennsylvania Street South Economic Development Area; Pennsylvania Street North Economic Development Area; 126 Street Economic Development Area, as amended. 2. To extend the boundaries of the Integrated Economic Development Area to include new development which has taken place in the vicinity. 3. To designate as a tax allocation area that portion of the Integrated Economic Development Area not currently designated as a tax allocation area, as a means of providing future financing opportunities to stimulate desirable economic development in the integrated area. (See Map #2.) 2004 Amendment: The 2004 amendment to the Integrated ED Plan proposes to undertake the following specific actions: 1. To remove a small area along Rangeline Road from the Old Town 2004 Amendment to the Integrated Economic Development Plan 18 Amended City Center Redevelopment Plan (2/10/04) ED Area and to include that same area in the City Center RD Area for purposes of achieving new redevelopment in the City's core area. 2. To add additional portions of the Pennsylvania Street corridor into the Integrated ED Area in support of both the City Center redevelopment vision and the US31 freeway project. 3. To add new parcels to the 126 Street ED Area in order to enable the ED Area to continue its growth. 4. To amend and expand the North Illinois Street ED Area into the "Illinois Corridor ED Area" in support of the US31 project, and in support of further construction of the Illinois Street corridor, and to designate the ED Area as a tax allocation area. 5. To designate an additional Tax Allocation Area in the Old Town ED Area in order to capture additional property tax increment in support of the next phases of the City Center projects. 6. To reconsider and expand the Hazel Dell South and the Plum Creek (Hazel Dell North) ED Areas in order to capture existing and future TIF, and to designate these areas as tax allocation areas. 7. To affirm the CRC policy that the CRC considers economic growth in all ED RD Areas to be directly related to the health of the City Center Area, and therefore, that arts and cultural projects generated within the City Center RD Area are considered by the CRC to "directly benefit" the other ED Areas of the City. PURPOSE OF THE PROPOSED ACTIONS: The Economic Development Areas are being consolidated and amended for several reasons: 1. To clarify and simplify the economic development scenario related to the ultimate development of the central portion of the City. 2. To extend the tax allocation area of the City for the purpose of potentially supporting additional phases of the City Center project. Now that the land acquisition has been complete, the 126 Street corridor is functional, the City has been presented with new development opportunities related to the City Center project. 3. To increase the capacity for tax increment financing in support of economic development opportunities in the integrated area. 4. To set the stage for specific consideration of additional financing strategies for projects related to the central area of the community. 2004 Amendment to the Integrated Economic Development Plan 19 Amended City Center Redevelopment Plan (2/10/04) Statement of Policy Amendments The purpose of the Integrated EDPIan is to provide the city's leadership with a single, organized planning document from which to base future economic development policy decisions. As will be explained below, much of this Integrated EDPIan is simply a consolidation and re- statement of the original body of multiple economic development plans and redevelopment plans. In addition to that re- statement, however, the Integrated EDPIan officially extends the individual existing plans, in part as follows. Interconnected Benefits The 126 Street Economic Development Plan (as amended), the Old Town Economic Development Plan, the Pennsylvania Street North South Economic Development Plans, and the City Center Redevelopment Plan have been developed as an interconnected network of planning documents relating to the long term development of the business core of the City of Carmel. These plans were originally conceived as integrated documents, each with a specific contribution to the overall development pattern of this core area. Originally, however, it was impossible to predict how quickly the developmental elements would come together. DEVELOPMENTAL CHARACTER: The development of the Pennsylvania Street corridor is integral to the long term plan to develop the US31 corridor into a limited access, freeway corridor. Ultimately, the improved Pennsylvania corridor will be paired with an improved corridor west of US31 to provide local access to important developments along the US31 corridor, thus allowing US31 to be re- designed as a freeway. The Old Town area is projected to be redeveloped as an intense urban core containing the historical origins of the City. This area will ultimately reflect the city's historic character and will be linked to the commercial core of the city through the Science Technology Park, as well as the Carmel Drive commercial area. The 126 Street EDArea will represent Carmel's development as an upscale business center, containing some of the region's most successful high technology business interests. This area was once defined by the Carmel Industrial Park, which was severely limited in 2004 Amendment to the Integrated Economic Development Plan 20 Amended City Center Redevelopment Plan (2/10/04) its developmental capacity. Through the development of a greater vision, however, the original Industrial Park was expanded and its developmental profile substantially elevated to include the attraction of business headquarter operations, as well as high profile national offices and high -rise office and conference complexes. This area represents the city's highest profile business core. The City Center Redevelopment Area was conceived as the cultural center of the community. Although Carmel has grown as an upscale suburban community, the City Center concept was developed as a place where the best of the community was anchored in defining the future character of the community. The City Center proposal included arts and cultural facilities, substantial public spaces, improved thoroughfare access, and increased visibility of the community's core. INTERCONNECTING SERVICES AND BENEFITS: Due to the developmental character issues discussed above, the original planning efforts, including the economic development plans and redevelopment plans for the various areas, it was determined that services and benefits resulting from projects in one area directly interconnected with benefits from projects in the other areas. Improvements to the 126 Street corridor would directly serve and benefit Old Town by increasing thoroughfare access to the historic downtown. Cultural facilities in the City Center would directly serve and benefit old downtown merchants by increasing popular access to their businesses. Having greater cultural traffic in the City Center would also improve the visibility of the Science Technology Park, and thereby directly serve and benefit that area.. Improvements to the Pennsylvania St. corridor would generally increase access to the business core of the community, and thereby directly serve and benefit that area. In short, each of these separate planning efforts contributed incrementally to the developmental character of the others. Success in one area facilitated success in the other areas. Completion of one project made it easier to complete the next. For these reasons, the Integrated EDPIan hereby specifically and formally finds and determines that services and benefits of theses plans and projects are mutually interconnected, with each directly serving and benefitting the others. All of the projects in the Integrated EDPIan are considered to be functionally and developmentally linked toward the ultimate execution of the long term development plan for the City of Carmel in the defined areas. 2004 Amendment to the Integrated Economic Development Plan 21 Amended City Center Redevelopment Plan (2/10/04) Amendment to the Old Town EDPIan The Old Town Economic Development Plan (EDPIan) is hereby formally amended to include support for various public private redevelopment efforts within the Old Town EDArea. This includes various proposals to redevelop certain portions of the area. Since the EDArea retains no authority for eminent domain, there is no proposed land acquisition through eminent domain, however, it may be appropriate for the city to participate in the purchase of various parcels of real estate in conjunction with certain redevelopment proposals. It is important to note, however, that the City should exercise caution in the process of purchasing land so as to assure the public that due process was carefully followed and that the public interest was served at all times. Therefore, the Old Town EDPIan is hereby amended to include appropriately negotiated land acquisition in support of public private redevelopment proposals which meet the developmental parameters of the long term development plans of the community. In such cases where the process is appropriately followed, it is therefore determined that the services and benefits of such projects to the Old Town EDArea also accrue equally and directly to the service and benefit of the amended and consolidated 126 Street EDArea and the City Center Redevelopment Area. 2004 Amendment: The Old Town ED Area was originally very simple in its concept to revitalize the infrastructure of the Old Town area, by adding new street lights, new sidewalks, streets, curbs, gutters and street furniture. Those goals have been achieved. However, the combined impact of these improvements, as well as the rippling impact of the City Center projects achieved within the private sector, have stimulated the need to consider establishing a tax allocation area near Main Street and 1 Avenue SW in order to capture additional tax increment from new development in that area. In addition, it has become necessary to recommend that several parcels be acquired by the CRC in order to implement further redevelopment projects in the neighborhood. Amendment to the City Center Redevelopment Plan The City Center Redevelopment Plan comprehensively incorporated the proposals of the City Center project, including the development of both public and private sector facilities, as well as open spaces and other developments to increase the public visibility of the RDArea, including the government center. Since the City Center Redevelopment Area was 2004 Amendment to the Integrated Economic Development Plan 22 Amended City Center Redevelopment Plan (2/10/04) defined by a Redevelopment Plan, the CRDC retains the power of eminent domain in the City Center RDArea, which can be exercised cooperatively with the City of Carmel, depending upon the ultimate use of the land acquired. Therefore, the City Center RDPIan is officially amended to include such land acquisition as was originally envisioned in support of the implementation of the City Center project, including parcels fronting on Rangeline Road. Therefore, the City Center Redevelopment Plan (RDPIan) is hereby amended to include land acquisition, possibly including eminent domain actions, in support of the City Center Redevelopment proposals which were previously made a part of the RDPIan. Such land acquisition, either through eminent domain or negotiated purchase, should meet the developmental parameters of the long term development plans of the community. In such cases where the process is appropriately followed, it is therefore determined that the services and benefits of such projects to the City Center Redevelopment Area also accrue equally and directly to the service and benefit of the amended and consolidated 126 Street EDArea, and the Old Town EDArea 2004 Amendment: the City Center RD Plan is hereby further amended to include an area along Rangeline Road with two nodes for redevelopment. The first node is located in the southeast quadrant of the intersection of Rangleine Main Street, and the second node is located along Rangeline, south of 1 Street SW. Parcels within these nodes are to be included on the list of parcels to be acquired and may be acquired through either negotiated purchase or eminent domain by the CRC in order for the CRC to achieve its redevelopment goals. In addition, the RD Plan will add new projects to its project list, as follows: Storage /restroom building on Monon Trail $300,000 $500,000 Veteran's Memorial $75,000 $125,000 South Veteran's Way Roundabout $900,000 $1,000,000 East -west Retail Boulevard $500,000 $600,000 Repairs, renovation, remodeling of Public Spaces $175,000 $225,000 Infrastructure redevelopment, utility burial $650,000 $750,000 construction of the South Tower $400,000 $500,000 Total Designated Areas 2004 Amendment to the Integrated Economic Development Plan 23 Amended City Center Redevelopment Plan (2/10/04) The following table summarizes the previous actions of the Carmel Redevelopment Commission with respect to the creation of economic development and redevelopment areas, as well as amendments thereto. Area Name original total acreage acreage 126 Street Economic Development Area 278 278 (less) City Center Redevelopment Area (112) 166 126` Street Economic Development Area (amended) 378 544 Pennsylvania St. North Economic Development Area 41 585 Pennsylvania St. South Economic Development Area 130 715 Old Town Economic Development Area 322 1037 Acres Recommended for Addition 110 1147 Impact of Future Actions This Integrated EDPIan is to be submitted to the Carmel Redevelopment Commission (CRDC) for approval. After receiving such approval, the Integrated EDPIan must then receive approval from the City Council. It is, therefore, important that the various agencies, bodies, elected officials and the general public understand the limitations which are imposed on subsequent decisions and actions by these various agencies and bodies. The vast bulk of all of the geographic area contained in the Integrated Economic Development Area is already within a designated economic development area. The actions proposed within this Integrated EDPIan in no way negate any previous action, but rather build upon those previous actions. Therefore, this Integrated EDP1an is undertaken with the understanding that future actions are cumulative. Any agency or governing body with authority over the decisions to be undertaken as a result of this Integrated EDPIan, therefore, should understand that such actions do not negate the previous legal actions of the CRDC or the City of Carmel. This is especially true of any actions which resulted in the issuance of public debt to support the proposed economic development activities. Since all previous actions remain in place, the impact which this future action has on the economic development planning of the city is as follows: 2004 Amendment to the Integrated Economic Development Plan 24 Amended City Center Redevelopment Plan (2/10/04) 1. To integrate the three designated economic development areas (126` Street (as amended), Pennsylvania Street South, Pennsylvania Street North) into a single economic development area, as presented above; 2. To amend the Integrated EDArea to include new areas which are being developed (see Map #2): 3. To designate the entire Integrated EDArea subject to certain exceptions, including the new developments, as a tax allocation area (see Map #3); 4. To present projects which might be anticipated as part of the Economic Development Strategy for the Integrated EDArea for the potential of public financing and/or financial incentives. 2004 Amendment: The 2004 Integrated ED Plan and Amended City Center Redevelopment Plan will be placed before the public in accordance with statutory requirements. Description of the (2000) Integrated EDArea The description of the boundaries of the Integrated 126` Street Economic Development Area is based on the aerial parcel maps provided by the Hamilton County Auditor's office on December 15, 1997 (aerial photography dated April, 1994), as follows: Beginning at the point of intersection of the north right of way of Adams Street with the western boundary of Parcel No. 005 on Map No. 09 -36- 00, and extending southwesterly and westerly along the north right of way line of Adams Street to its point of intersection with the western right of way line of Guilford Road; Thence north along the western right of way line of Guilford Road to the northeast corner of Parcel No. 007 of Map No. 09- 36 -00; Thence west along the northern boundaries of Parcel Numbers 007, 007.001 and 002, to the point of intersection with the north right of way line of Carmel Drive; Thence northwesterly along the north right of way line of Carmel Drive to the point of intersection with the southeast corner of Parcel No. 029.001 on Map 09 -26 -00 (Shepherd Insurance); Thence north along the eastern boundary or Parcel No. 029.001 on Map No. 09 -26 -00 to the northwest corner of Parcel No. 001 of Map 09- 26 -00, (Arbors of Carmel) 2004 Amendment to the Integrated Economic Development Plan 25 Amended City Center Redevelopment Plan (2/10/04) Thence east along the northern boundary of Parcel No. 001 on Map No. 09 -26 -00 to the southeast corner of Parcel No. 013 on Map No. 09 -26- 00, Thence north along the eastern boundary of Parcel No. 013 on Map No. 09- 26 -00, to the northeast corner of said Parcel No. 013, (proposed Buckingham development) Thence west along the northern boundary of said Parcel No. 013 to the southeast corner of Parcel No. 016 on Map No. 09- 26 -00, Thence north along the eastern boundary of said Parcel No. 016 to the northeast corner of said Parcel No. 016, Thence west along the northern boundary of said Parcel No. 016 to the point of intersection with the southeast right of way line of Old Meridian Street, Thence west, across Old Meridian Street, to the northwest right of way line of Old Meridian Street, Thence due west, across Parcel No. 1609260000015000 (Meijer) to the point of intersection with the eastern right of way line of Pennsylvania Street, (the Pennsylvania Corridor EDArea) Thence north, along the eastern right of way line of Pennsylvania Street to the point of intersection with the south right of way line of 131 Street (Main Street), Thence west, along the south right of way line of 131 Street to the point of intersection with the eastern right of way line of US31, Thence south, along the eastern right of way line of US31 to the point of intersection with the north right of way line of 126 Street, Thence west along the north right of way line of 126 Street, across US31, to the point of intersection with the west right of way line of US31, Thence north along the west right of way line of US31 to the point of intersection with the south right of way line of 131 Street, Thence west along the south right of way line of 131 Street to the point of intersection with the east right of way line of Meridian Corners Boulevard, Thence south along the east right of way line of Meridian Corners Boulevard to the point of intersection with the northwest corner of Parcel No. 017.003 shown on Map No. 09- 26 -00, Thence east along the northern boundary of said Parcel No. 017.003 to the northeast corner of said Parcel No. 017.003, which is also the point of intersection with the western boundary of Parcel No. 016.001 on Map 2004 Amendment to the Integrated Economic Development Plan 26 Amended City Center Redevelopment Plan (2/10/04) No. 09- 26 -00, (Hamilton Crossing West development) Thence south along the western boundary of said Parcel No. 016.001 to the point of intersection with the northern right of way line of West 126 Street, Thence south across West 126 Street to the point of intersection with the south right of way line of West 126 Street, Thence east along the south right of way line of West 126 Street to the point of intersection with the west right of way line of US31, Thence east across US31 to the point of intersection with the eastern right of way line of US31, Thence south along the eastern right of way line of US31 to the point of intersection with the southern boundary of Parcel No. 010 on Map No. 09- 35 -00, (Hamilton Crossing East (Duke) development) Thence east along the southern boundary of said Parcel No. 010 to the southeast corner of said Parcel No. 010 on Map No. 09- 35 -00, Thence northeast, across Pennsylvania Street to the point of intersection with the eastern right of way line of Pennsylvania Street, Thence north along the eastern right of way line of Pennsylvania Street to the point of intersection with the southern right of way line of 126 Street, Thence east along the southern right of way line of 126 Street to the point of intersection with the southeastern right of way line of Old Meridian Street (Old US31), Thence southwesterly along the southeastern right of way line of Old U.S. Hwy 31 to the point of intersection with the northern boundary of Parcel No. 027 (Map No. 09- 35 -00) to the northeast corner of said parcel; Thence south along the eastern boundaries of Parcel Numbers 027, 026, 025, 024, 022, and 021 to the southeast corner of Parcel No. 021 (Map No. 09- 35 -00); Thence east along the southern boundary of Parcel No. 021 to the point of intersection with the eastern right of way line of Pennsylvania Street; Thence due west, across Pennsylvania Street, to the point of intersection with the western right of way line of Pennsylvania Street; Thence south along the western right of way line of Pennsylvania Street to the point of intersection with the northeast corner of Parcel No. 037.000 on Map No. 09- 35 -00, Thence west along the northern boundary of said Parcel No. 037.000 to 2004 Amendment to the Integrated Economic Development Plan 27 Amended City Center Redevelopment Plan (2/10/04) the point of intersection with the eastern right of way line of US31; (Pennsylvania South EDArea) Thence south along the eastern right of way line of US31 to the point of intersection with the center line of 116 Street; Thence east along the center line of 116th Street to the point of intersection with the western boundary of Parcel No. 059 (Map No. 09- 36-00); Thence north along the western boundary of Parcel Numbers 059 and 060 to the northwest corner of Parcel No. 060; Thence east along the northern boundary of Parcel 060 to the northeast corner of Parcel No. 060; Thence north along the eastern boundary of Parcel Numbers 002, 004, and 003 (as shown on Map No. 09- 36 -00) to the northeast corner of Parcel No. 003; Thence east along the southern boundary of Parcel Numbers 003 and 005 to the interior southwest corner of Parcel No. 005; Thence south along the southwest boundary of Parcel No. 005 and continuing south along the western boundary of Parcel Numbers 004.005, 004 and 004.004 to the southwest corner of Parcel No. 004.004; Thence east along the southern boundary of Parcel 004.004 to the southeast corner of said parcel; Thence north along the eastern boundary of Parcel Numbers 004.004, 004.003, 004.101, and 004.001 to the point of intersection with the south right of way line of Carmel Drive; Thence east along the south right of way line of Carmel Drive, across Rangeline Road to the eastern right of way line of Rangeline Road; Thence north along the eastern right of way line of Rangeline Road to the south right of way line of Executive Drive, as shown on Map No.10- 31-00; Thence east along the south right of way line of Executive Drive, as shown on Map No. 10- 31 -00, to the northwest corner of Parcel No. 006, as shown on said map; Thence south along the western boundary of Parcel No. 006 to the southwest corner of said parcel; Thence eastward, northward and eastward along the southern boundary of Parcel No. 006, as shown on Map No. 10- 31 -00, to the southeast corner of Parcel No. 006, thence eastward across the right of way of Executive Drive to the southwest corner of Parcel No. 001 (Centerpoint 2004 Amendment to the Integrated Economic Development Plan 28 Amended City Center Redevelopment Plan (2/10/04) Section 2 -A); Thence eastward along the southern boundary of Parcel No. 001 of Centerpoint Section 2 -A, as shown on Map No. 10 -31 -00 to the southeast corner of said parcel; Thence northward along the eastern boundary of Parcel No. 001 to the northeast corner of said parcel; Thence westward along the northern boundary of Parcel No. 001, to the northeast corner of Parcel No. 003 (Centerpoint Section 2), thence westward along the northern boundaries of Centerpoint Section 2, Parcel Numbers 003, 002 and 001; Thence west along the northern boundary of Parcel No. 001 of Centerpoint Section as shown on Map No. 10- 31 -00, to the point of intersection with the center line of Rangeline Road; Thence north along the center line of Rangeline Road to the point of intersection with the northern boundary of Parcel No. 013 as shown on Map No. 09- 36 -00; Thence west along the northern boundary of Parcel No. 013 to the northwest corner of said parcel; Thence south along the western boundary of Parcel No. 013 to the southwest corner of said parcel; Thence west along the southern boundary of Parcel No. 008.001 to the southwest corner of said parcel; Thence south, across the road right of way and continuing south along the western boundary of Parcel Numbers 016, 017, 018, 019, 020, 021, 022, 023, 024, 025.001, and 026.001, as shown on Map No. 09- 36 -00, to the southwest corner of Parcel No. 026.001; Thence west along the southern boundary of Parcel No. 015 to the southwest corner of said parcel, continuing across the Old Monon right of way to the point of intersection with the west right of way line of the Old Monon Railroad; Thence north along the west right of way line of the Old Monon Railroad to the point of intersection with the southern boundary of Parcel No. 005; Thence west along the southern boundary of Parcel No. 005 to the southwest corner of said parcel; Thence north along the western boundary of Parcel No. 005 to the point of intersection with the northern right of way line of Adams Street, which is the point of beginning. 2004 Amendment to the Integrated Economic Development Plan 29 Amended City Center Redevelopment Plan (2/10/04) 2004 Amendment to the Old Town ED Area and City Center RD Area: Legal Description of the Amendment to the City Center Redevelopment Area Adding Parcels to the Redevelopment Area The following describes an area to be added to the City Center Redevelopment Area, inclusive of all parcels contained within the boundaries designated, as follows; Beginning at the point of intersection of the west right of way line of Rangeline Road with the south right of way line of Mohawk Drive (a.k.a. City Center Drive), which is within the designated boundaries of the City Center Redevelopment Area, then proceeding northward along the west right of way line of Rangeline Road, to the point of intersection with the south right of way line of 3rd Street SW, then proceeding westward, along the south right of way line of 3rd Street SW, to the point of intersection with the east right of way line of 1St Avenue SW, then proceeding northward, along the east right of way line of 1 Avenue SW, to the point of intersection with the southwest corner of parcel 16 -09- 25- 16 -03- 001 -000, then proceeding eastward, along the south property line of parcels 16 -09- 25-16-03- 001 -000 and 16- 09- 25- 16 -03- 002 -000, to the southwest corner of parcel 16- 09- 25- 16 -03- 003 -000, then proceeding northward, along the west boundary of parcel 16- 09 -25- 16-03- 003 -000, to the point of intersection with the south right of way line of 1 Street SW, then proceeding eastward, along the south right of way line of 1 Street SW, to the point of intersection with the west right of way line of Rangeline Road, then proceeding northward, along the west right of way line of Rangeline Road to the point of intersection with the south right of way line of Main Street, then proceeding northward, across the right of way of Main Street to the north right of way line of Main Street, then proceeding eastward, along the north right of way line of Main Street, to the point of intersection with the east right of way line of 1S Avenue SE, 2004 Amendment to the Integrated Economic Development Plan 30 Amended City Center Redevelopment Plan (2/10/04) then proceeding southward, along the east right of way line of 1 Avenue SE, to the point of intersection with the north right of way line of 1 Street SE, then proceeding westward, along the north right of way line of 1 Street SE, to the southeast corner of parcel number 16- 10- 30- 03 -01- 030 -000, then proceeding northward, along the eastern boundary of parcel numbers 16- 10- 30- 03 -01- 030 -000 and 16- 10- 30- 03 -01- 031 -000, to the northeast corner of parcel number 16- 10- 30- 03 -01- 031 -000, then proceeding westward, along the northern boundary of parcel 16 -10- 30-03-01- 031 -000, to the point of intersection with the east right of way line of Rangeline Road, then proceeding southward, along the east right of way line of Rangeline Road, to a point directly eastward of the south right of way line of Civic Square Drive, then proceeding westward, across the right of way of Rangeline Road, to the point of intersection with the south right of way line of Civic Square Drive and the west right of way line of Rangeline Road, which is within the designated boundaries of the City Center Redevelopment Area. Legal Description Deleting Area /Parcels from the Old Town Economic Development Area The following describes an area which is intended to be added by amendment to the City Center Redevelopment Area, and a part of which is currently located within the boundaries of the Old Town Economic Development Area. Any portion of the Old Town Economic Development Area described herein is therefore officially deleted from the Old Town Economic Development Area, inclusive of all parcels contained within the boundaries described, as follows; Beginning at the point of intersection of the west right of way line of Rangeline Road with the south right of way line of Mohawk Drive (a.k.a. City Center Drive), which is within the designated boundaries of the City Center Redevelopment Area, then proceeding northward along the west right of way line of Rangeline Road, to the point of intersection with the south right of way line of 3rd Street SW, then proceeding westward, along the south right of way line of 3 Street SW, to the point of intersection with the east right of way line of 1St Avenue SW, 2004 Amendment to the Integrated Economic Development Plan 31 Amended City Center Redevelopment Plan (2/10/04) then proceeding northward, along the east right of way line of 1 Avenue SW, to the point of intersection with the southwest corner of parcel 16 -09- 25- 16 -03- 001 -000, then proceeding eastward, along the south property line of parcels 16 -09- 25-16-03- 001 -000 and 16- 09- 25- 16 -03- 002 -000, to the southwest corner of parcel 16- 09- 25- 16 -03- 003 -000, then proceeding northward, along the west boundary of parcel 16- 09 -25- 16-03- 003 -000, to the point of intersection with the south right of way line of 1 Street SW, then proceeding eastward, along the south right of way line of 1 Street SW, to the point of intersection with the west right of way line of Rangeline Road, then proceeding northward, along the west right of way line of Rangeline Road to the point of intersection with the south right of way line of Main Street, then proceeding northward, across the right of way of Main Street to the north right of way line of Main Street, then proceeding eastward, along the north right of way line of Main Street, to the point of intersection with the east right of way line of 1 Avenue SE, then proceeding southward, along the east right of way line of 1 Avenue SE, to the point of intersection with the north right of way line of 1 Street SE, then proceeding westward, along the north right of way line of 1 Street SE, to the southeast corner of parcel number 16- 10- 30- 03 -01- 030 -000, then proceeding northward, along the eastern boundary of parcel numbers 16- 10- 30- 03 -01- 030 -000 and 16- 10- 30- 03 -01- 031 -000, to the northeast corner of parcel number 16- 10- 30- 03 -01- 031 -000, then proceeding westward, along the northern boundary of parcel 16 -10- 30-03-01- 031 -000, to the point of intersection with the east right of way line of Rangeline Road, then proceeding southward, along the east right of way line of Rangeline Road, to a point directly eastward of the south right of way line of Civic Square Drive, then proceeding westward, across the right of way of Rangeline Road, to 2004 Amendment to the Integrated Economic Development Plan 32 Amended City Center Redevelopment Plan (2/10/04) the point of intersection with the south right of way line of Civic Square Drive and the west right of way line of Rangeline Road, which is within the designated boundaries of the City Center Redevelopment Area. Findings of Fact Overview The statutory Findings of Fact for each of the EDAreas was originally established in the Economic Development Plans for each area. In each of those plans, the statutory provisions were itemized and examined individually, and conclusions and recommendations were made based on the analytical parameters of each, individual area. Consequently, this Amendment #2: Integrated Economic Development Plan hereby officially and formally incorporates all of the original Findings of Fact, as well as the entire text of each Economic Development Plan into this single, Integrated Economic Development Plan. The text of the individual Economic Development Plans previously approved and implemented by the CRDC are included as appendices to this EDP1an in support of this official action (see Appendix). As a result of this action, this Integrated EDP1nn officially incorporates the sum of all of the individual findings of all of the individual EDPlans. The integration of these EDPlans into a single document has no effect to negate any of the findings of fact which constituted the statutory rationale for creating the EDAreas, in the first place. Therefore, each and every finding of fact is hereby certified, and affirmed by action of the CRDC and the City Council, to remain valid in consideration of the Integrated EDPaan. Continuation of the City Center Project The reader is directed to the financial premise of the City Center Redevelopment Plan and the Amended 126 Street Economic Development Plan. (See Appendix) These two plans served as the policy basis for the creation of a Redevelopment Area and an Amended Economic Development Area, as well as the designation of both of these areas as tax allocation areas under Indiana statute. The purpose of designating these areas as tax allocation areas was to capture tax increment revenue in support of the initial phases of the City Center project (land acquisition). This initial phase has been completed. 2004 Amendment to the Integrated Economic Development Plan 33 Amended City Center Redevelopment Plan (2/10/04) Therefore, the proposed action to combine three of the EDAreas into a single Integrated EDArea is a direct continuation of the City's support of the City Center project. In the interim since the previous action by the CRDC, new development opportunities have been realized, and the City is in position to implement additional phases of the original vision of the City Center project, based on the projects itemized in this Integrated EDPIan. The original City Center Redevelopment Area remains geographically unchanged by any action proposed herein. However, the inclusion of new areas, identified below, into the EDArea, as well as the designation of an expanded tax allocation area, can potentially add to the TIT increment which can be captured in support of the City Center project. This, therefore, is simply a continuation of the previous economic development pro forma which was approved by the CRC and the City Council in 1998. 2004 Amendment: The CRC has completed all but the most long -term of its original visionary goals for creating a new cultural and artistic center for the community. The 2004 amendment is set before the public for its review and comment, and to enable the public to scrutinize the CRC's progress thus far and its proposals for future action. The conceptual key to the entire 2004 effort is the realization that the 'center of the city' of Carmel is actually a much larger area than has been publicly realized, prior to the redevelopment activities undertaken by the CRC since 1998. The 2004 amendment, therefore, will seek to emphasize the concept that the City Center projects, in actuality, benefit the community as a whole, rather than just the small, designated ED Areas or RD Areas, AND to emphasize that the development in this larger 'core area' is part and parcel to the redevelopment of City Center. Few modern cities have undertaken the visionary effort of the City of Carmel to create, preserve and re- create the greater downtown area as a cultural and artistic center of the community at large. Most cities are content to have some new development here and there for the purpose of increasing its tax base. But only the most visionary, courageous and talented cities have had the nerve to endure the creation of a substantial negative tax increment with the goal of stimulating so much economic growth that the negative increment is not only overcome, but overflowing with new property tax base for the City as a whole. It has long been held and advocated by city planners that a healthy core area is crucial to the long -term economic health of a city. The CRC's actions of the last 5 years have proven that a vital core area can add vitality to all of the other areas of community growth. The CRC can demonstrate that new growth and viable economic activity in the City 2004 Amendment to the Integrated Economic Development Plan 34 Amended City Center Redevelopment Plan (2/10/04) Center RD Area directly benefits the economic activity of other ED Areas, and the community at large. Therefore, this 2004 amendment is to be considered an opportunity for public discussion of the proposition that the improvements in the City Center RD Area directly benefit the City's other ED Areas, as well as the community as a whole. Findings of Fact Related to Additional EDAreas Beyond the original Findings of Fact which were detailed in each, individual EDPIan, and are hereby incorporated into this Integrated EDPIan, this Integrated EDPIan will focus the additional Findings of Fact on the areas which are proposed to be added to the Integrated EDArea. As such, the Findings of Fact presented below are to be considered cumulative, in addition to the sum of the previous Findings. These new areas to be added to the Integrated EDArea are generally described as follows: 1. The previously undeveloped area located on the west side of US31, north of 126 Street south of 131 Street, and east of the Firestone office building, as shown on Map #2. This new area is contiguous with the EDArea previously known as the Pennsylvania Street North EDArea. 2. The area of the planned development known as the Buckingham area, north of the amended 126 Street EDArea, and contiguous thereto, as shown on Map #2. This development includes both multi family residential units and commercial development. These two areas constitute a minor addition to the total Integrated EDArea 2004 Amendment: The Findings of Fact for this 2004 Amendment are hereby affirmed to consolidate, incorporate and integrate the findings of fact for the Old Town ED Area, the City Center RD Area, the Integrated 126 Street Corridor ED Area (including findings related to the Pennsylvania corridor and contained in that ED Plan), the North Illinois Street ED Area (as amended in boundary and name), the Hazel Dell North South ED Areas (as contained in the ED Plan, and as amended in boundary), and the Old Meridian ED Area (as amended to include previously unincorporated /undesignated territory), as well as incorporating all previous findings of fact related to the designation of ED or RD Areas, or any amendments in boundary thereto. The stated purpose of this 2004 Amendment to the Integrated ED RD Plan is, in part, to formally state that all previous findings of fact are hereby deemed current and relevant to the amended ED RD Areas, as well as the ED 2004 Amendment to the Integrated Economic Development Plan 35 Amended City Center Redevelopment Plan (2/10/04) RD Plans documenting such findings. Finding of Fact #1: "...promotes significant opportunities for the gainful employment of its citizens..." The areas being added to the Economic Development Area consist of areas peripheral to the Carmel Science Technology Park. In each of the two areas, there will be development of new office and other commercial space which demonstrably adds new jobs to the local economy. Therefore, the new areas are easily demonstrated to promote significant opportunities for the gainful employment of the citizens of Carmel and surrounding communities. The area west of US31 is the site of a major new office building, located immediately north of 126 Street. This site is directly served and benefitted by the 126 Street corridor which was completed through the original public financing (COIT bonds). Because the 126 Street corridor now extends continuously from the far east side of Carmel to the US31 corridor, without interruption, the economic viability of this site was enhanced. The development of this office building will clearly provide job opportunities for residents of the Carmel/Hamilton County area. The proposed Buckingham development will also provide opportunities for gainful employment of the citizens of the area. The proposed development provides multi family residential units which can be included in the tax increment according to the State Board of Tax Commissioners. Section 36- 7 -14 -39 (a)(1) indicates that "residential property under the rules of the state board of tax commissioners" is not to be included in the tax increment. However, the regulations of the State Board of Tax Commissioners regarding real estate property assessment (50 IAC 2.2 -1- 53, "Residential property defined") states, "Residential property is normally construed to mean a structure where less than three (3) families reside in a single structure." This clause is interpreted to mean that apartment complexes of greater than 2 units can be considered eligible for generating tax increment, as proposed for the Buckingham development. The development proposal also includes commercial development space, which can certainly be included in the tax increment. This commercial space, in the form of office and retail space, will also provide employment opportunities for citizens of the area, and the contribution of net assessed value by the whole Buckingham development will benefit the community. The overall plan for the economic development of the area is to continue the implementation of the City Center project, as previously presented and 2004 Amendment to the Integrated Economic Development Plan 36 Amended City Center Redevelopment Plan (2/10/04) approved. The areas proposed for inclusion in the Integrated EDArea are contiguous to the EDArea and are developing in accordance with the surrounding land use, as a part of the business core of the City of Carmel. As such, it is the conclusion of this EDPIan that the areas proposed for inclusion in the Integrated EDArea meet the definition of this statutory finding and should be included in the Integrated EDArea. Finding of Fact #2: "...lack of local public improvements..." The goal of integrating the EDAreas continues to be directly related to the need for additional local public improvements in order to achieve the highest level of economic activity in the core business area of the City. Carmel is truly a gifted community. It has achieved a level and success of development which is virtually unparalleled in any other part of the state, and as such, the standards of the community are higher than most other communities. Because Indiana statute does not create highly specific and detailed criteria for statutory findings of fact or findings of blight, communities are able to adjust these findings to their own context and apply the statute to the particular idiosyncracies of their community. In Carmel, the goal is literally to achieve the highest possible level of success with new development of the highest possible quality. The historical development patterns of the city are reaching the point where certain types of goals cannot be achieved without the re- arrangement of land uses and activities. The Comprehensive Plan predicts that by the year 2020, all of the land within the Carmel planning area will be developed. The importance of planning for the highest and best use of the land becomes even more important to achieve the community's goals. The Integrated EDArea represents Carmel's highest profile employment center. The Science and Technology Park holds many of the City's top employers and most growth- oriented companies. It is the success of these companies which will continue to provide the area with economic growth, even after the planning area is fully developed. The Integrated EDArea is in a critical location for the economic activity of the community. The 126 Street extension from Rangeline Road to Adams Street was a critical public improvement in the original Economic Development Plan. In addition, EDPIan amendments established that the City Center project contributed directly to the Economic Development Plan for the 126 Street Corridor Economic Development Area as well as the Old Town EDArea, and provided additional public sector improvements which have been identified and previously approved by the community as part of its long -range planning effort. These approvals are a matter of public record, particularly with regard to the incorporation of the City center project into 2004 Amendment to the Integrated Economic Development Plan 37 Amended City Center Redevelopment Plan (2/10/04) the long term development plan of the City of Carmel. Included within the proposed City Center project are a number of public improvements designed to establish a cultural center for the City of Carmel adjacent to its business core. Those public improvements include: Parking Facilities A Community Center (art museum) Performing Arts Center An Outdoor Amphitheater Improvements to the Monon Trail Corridor The City Center project proposal, as previously presented to the City Council, provided additional perspective for the public to understand the magnitude and architectural detail of the City Center proposal. In addition, the architect also provided a perspective rendering of the proposed project to demonstrate the overall architectural integrity of the project and its impact on the community and surrounding area. The City Center project is of such a substantial scale and impact that it will become an active part of the overall economic development of the area, including both the Integrated EDArea and the City Center Redevelopment Area. It is projected that the proposed City Center project and the public improvements to be funded as part of its implementation will have a direct impact on the entire community, with the intent of developing the center of the city as a cultural center. Without these public improvements, the City of Carmel will not become economically distressed. However, it is clear that the successful development of the City Center project will have a direct economic benefit to the surrounding area, including the Old Town EDArea and the 126 Street EDArea, and will reinforce the economic viability of the city's business and social core. The City Center project was proposed as a public private partnership. Since its inception, the City has enjoyed several redevelopment type projects for the central core of the city, including the housing /commercial development proposed for the southwest corner of the intersection of Main Street and Rangeline Road. The subsequent phases of the City Center project include the development of public space, possibly including a performing arts center, museums or other forms of cultural, entertainment and recreational activities for the citizens of Carmel. These facilities are generally not within the purview of the private sector, except under highly unusual circumstances. Even in major cities like Indianapolis, Chicago and New York, performing arts facilities, museums and community activity space is a public sector responsibility. Therefore, it is clear that neither the normal operation of the regulatory process nor the operation of 2004 Amendment to the Integrated Economic Development Plan 38 Amended City Center Redevelopment Plan (2/10/04) private enterprise is likely to be functional in meeting such needs. For these reasons, it is concluded that the Integrated EDPann (including the proposed City Center project) cannot be achieved by the regulatory processes or by the ordinary operation of private enterprise without resort to the powers allowed under IC Sections 36- 7- 14 -2.5, 41 and 43 because of lack of local public improvements which, once implemented, will enable the combined areas to achieve a higher level of economic activity and public benefit than would otherwise be possible, thereby confirming this statutory finding of fact. Finding #3: "...the public health and welfare will be benefitted...." The City Center project will benefit the public health and welfare of the City of Carmel in several ways, as explained in previous EDPlans. First, the City Center project will generate more intense and coordinated development in the central business core area. For example, along the Rangeline Road corridor, the existing land use patterns include unimproved land and property which needs reinvestment and remodeling. This corridor represents the original economic link between Carmel and Indianapolis, and the strip commercial development which originally took place along this corridor is among the oldest commercial development in the City. The long range plan of the City is to develop a single, architecturally coordinated development which will be undertaken generating a substantially greater number of jobs and economic activity than the current land uses of the City Center area. Second, the City Center improvements are expected to lead to substantially greater levels of local tax revenues including property taxes and COIT. Economic incentives can then be directed to public services needed by the community, including road repairs, maintenance of public spaces, infrastructure improvements and so forth. The uses for these funds can be determined annually by the City's leadership as part of the budgeting process. Third, the addition of cultural and public facilities such as the performing arts center and the community center will have a direct and positive impact on the public welfare. These facilities will increase the number of opportunities available for Carmel's citizens to be exposed to intellectually and culturally enlightening performances, as well as offering the opportunity to participate in those activities directly. In addition, the community center will provide opportunities for the residents of the area to meet and interact with regard to a broad range of public, semi public, and community -based activities. The activities programmed for community center spaces are virtually limitless, and with the creative 2004 Amendment to the Integrated Economic Development Plan 39 Amended City Center Redevelopment Plan (2/10/04) capacity of an educated population, the community space in Carmel will undoubtedly provide a huge benefit to the community at large. Fourth, the Monon Trail corridor improvements are part of the City Center project. This linear park is an extension of the Monon Trail of northern Marion County which has become one of the most popular park facilities in central Indiana. The portion of the linear park which stretches from Broad Ripple to Nora is a public health attraction for the community at large with people making a point of traveling to the Monon Trail to jog, skate, bike or walk its entire length. It is not unreasonable to expect similar usage in Carmel, thereby creating a direct benefit to the public health and welfare of the community at large. The Integrated EDArea, along with the Redevelopment Area, continues to be, a carefully coordinated effort to assure the economic viability of the urban center of the City of Carmel. History has proven that cities routinely neglect their urban cores until the decay and disinvestment has become so pervasive that the area is unilaterally blighted. Carmel's leadership is determined to avoid that outcome. In that determination, the proposal is to create the opportunities to capture revenue streams from the business core to assure that the business core remains economically viable for the long term. This means developing a coordinated EDPIan between the Redevelopment Area and the Integrated EDArea and then working consistently toward implementation of the City Center project. For these reasons, it is concluded that the public health and welfare will benefit by accomplishment of the plan for the integrated EDArea. The City Center project is a complex mix of public and private space designed to anchor the central portion of the City as the focal point of the community. Implementation of this project, undertaken in a careful and considerate manner, will directly benefit the public health and welfare, as suggested in this finding of fact. Finding #4: "an increase in the property tax base..." The amended Economic Development Plan meets the statutory finding of "a public utility and benefit as measured by: the attraction or retention of permanent jobs; an increase in the property tax base; improved diversity in the economic base, OR other similar public benefits." The City Center project was designed to meet this finding of fact by increasing the land use intensity within the Redevelopment Area. This increased intensity will provide more private sector office and retail space and, with that increase in space, there will be a commensurate increase in the number of permanent jobs created and retained in the community. Considering that most of the Redevelopment Area is either vacant 2004 Amendment to the Integrated Economic Development Plan 40 Amended City Center Redevelopment Plan (2/10/04) altogether or in need of substantial reinvestment, it is easy to see that the City Center project will almost certainly result in many more jobs than those now existing. Thus, the first part of the finding is established. Second, the portion of the Redevelopment Area located in the southwest quadrant of the intersection of 126`" Street and Rangeline Road is largely undeveloped, and is mostly owned by the City. As such, it is generating no tax base for the community. Although no formal implementation is yet proposed, many of the projected improvements will take place on land that is currently either totally unimproved or whose improvements are suffering from a lack of reinvestment. Therefore, the net result of the plan is to increase the amount of taxable improvements in the real property of the area, leading to an increase in the property tax base. The construction of an integrated entertainment complex, economically buttressed by infrastructural improvements and new office and retail space will also increase the diversity of the local economy. The location of this project, between the historic retail center of the community and the primary retail center of Carmel Drive /116`" Street, links the overall retail functions of the community, providing continuity of land uses. This project, combined with the impact of the 126 Street corridor completion, should improve the diversity of the local economy, resulting in needed investment and reinvestment in property in the area. For these reasons, it is concluded that the accomplishment of the City Center project, as well as other aspects of the Integrated EDPIan will be "a public utility and benefit as measured by: the attraction or retention of permanent jobs; an increase in the property tax base; improved diversity in the economic base; OR other similar public benefits," thereby confirming this statutory finding of fact. 2004 Amendment to the Integrated Economic Development Plan 41 Amended City Center Redevelopment Plan (2/10/04) Finding #5: "...conforms to other development and redevelopment plans...." This Integrated EDPIan complies, by definition, with other development and redevelopment plans for the area in several ways. First, this Integrated Economic Development Plan is developed in tandem with the City Center Redevelopment Plan and conforms specifically thereto. By developing these two Plans in tandem, the Redevelopment Commission can use its diligence of review and approval to assure that they conform directly with one another. To take this principle a step further, the Plan Commission has determined on two separate occasions that each of the EDPlans and the Redevelopment Plan conform with the plan of development for the city. These actions were taken officially and are a matter of public record. As such, there is no question whatever that the Integrated EDP1nn conforms to the other development plans for the area. To further underscore the accuracy of this assertion, the City Council also officially considered the findings of fact in all of the EDPlans and found that the plans conformed to the plan of development for the city. The Council then approved the issuance of public debt for the purpose of implementing these plans. Certainly, if there were any doubt as to whether the plans or the recommended projects conformed to the plan of development for the community, the City Council would never have approved the financing for these projects. Considering that the City Council has approved public debt in excess of $40 million for the implementation of these EDPlans, it is clear that the individual plans conform to the overall development plans for the city. The fact that this EDPIan conforms to the previous planning for the community is beyond dispute, as a matter of public record, and by the direct public approvals, resolutions and other actions of the CRDC, the Redevelopment Authority, the Plan Commission and the City Council. For these reasons, it is concluded that the Integrated EDPIan conforms to all other development and redevelopment plans for the City of Carmel, thereby confirming this statutory finding of fact. ADD'L FINDING: THE AMENDMENT TS REASONABLE APPROPRIATE It is also necessary for this Integrated EDPIan to ascertain whether the amendment is reasonable and appropriate when considered in relation to the original resolution and plan, along with the purposes of IC 36 -7 -14. It is therefore necessary to consider the original context of the plans. As stated in the earlier sections of this document, the original EDPlans and the RDPIan were undertaken in support of the long term development of the city's business core area (generally defined as 116 Street to 131 2004 Amendment to the Integrated Economic Development Plan 42 Amended City Center Redevelopment Plan (2/10/04) Street, and from US31 to Rangeline Road). This general area contains the old downtown area, as well as the Science Technology Park, which represents the most modern business center in the community. Those earlier sections of this report, including the Introduction, Statement of Policy Amendments and the Impact of Future Actions all substantiate that this action toward integrating and consolidating the individual EDAreas into one area, continues the original intent to develop the entire area as a developmental whole. As of the date of presentation of this Integrated EDPIan, all projects have been undertaken for the purpose of securing these areas as developmentally and functionally interconnected. Furthermore, these projects have been undertaken to underscore the developmental importance of the defined areas as the cultural, governmental and business center of the community. The recommended action to integrate the separate EDAreas into a single Integrated EDArea is undertaken to reduce confusion and increase public awareness. Individual projects originally justified the creation of individual areas, however, as the developmental constraints were removed, the area began to grow in the preferred manner until now all of the areas are functionally and developmentally interconnected. For these reasons, the original reasons for pursuing EDArea and RDArea designations for the various areas remain valid. The findings of fact presented above all assert and demonstrate that the new areas meet the developmental conditions prescribed by statute, in substantially the same manner as the original areas. Therefore, it is hereby asserted that the amendment to the resolution and the amended (Integrated) plan are reasonable and appropriate to the original purpose and intent of the individual areas. ADD' L FINDING: THE AMENDED RESOLUTION PLAN CONFORM TO THE COMPREHENSIVE PLAN In Finding #5, above, it was clearly demonstrated that the original plans were determined to conform to the plans of development for the city. An entire sequence of official actions by public agencies and officials affirmed this assertion. As a result of the findings of this Integrated EDPIan, presented above, the areas proposed for inclusion in the EDArea by virtue of this EDPIan are also in conformance with the overall plan of development of the city. The areas proposed for inclusion (those areas which were not previously a part of any EDArea) amount to approximately 100 -110 acres. As shown 2004 Amendment to the Integrated Economic Development Plan 43 Amended City Center Redevelopment Plan (2/10/04) in the "Total Designated Areas" summary table earlier in this Integrated EDPIan, the total acreage previously designated exceeds 1,000 acres. As shown on Map #2, the expansion areas include three primary developments: Hamilton Crossing (about 48 acres); Additional Meijer Development (about 5 acres); and, Buckingham Development (about 55 acres) These 3 developments predominantly represent commercial developments which have been facilitated by the provision of new thoroughfare access along Pennsylvania Street, 126 Street (or other projects), as well as through the developmental integration of the overall area as the business core of the community. As such, these developments will benefit from the new facilities and projects recommended in previous EDPlans. More importantly, however, the Comprehensive Plan for the community is clear in its designation of this general area as the business core of the community. Even the most cursory examination of the existing and future land use plans of the community clearly show the intent of these areas to serve as the business core. This conformity was clearly established in the previous EDPlans and the inclusion of the three developments listed above does not alter that original conclusion. Inasmuch as these developments increase the intensity of this business core, as well as expanding to and developing undeveloped parcels which were designated for business land uses within that core, it is absolutely clear that these developments fall totally within the original intent of the designation of these areas as economic development areas. Therefore, it can be safely concluded that the three areas listed above conform to the comprehensive plan of the community. Summary: The narrative above demonstrates conclusively that the Integrated EDPIan meets the requirements of all "findings of fact" as provided in Indiana statute, IC36 -7 -14. It is clear that the Redevelopment Commission has considered all of the relevant issues related to the establishment of the economic development areas. Originally, individual EDAreas were created to support projects such as corridor improvements which were geographically separated, yet still part of the central business core of the community. As these projects were implemented, however, it became clear that all of the projects were a part of an overall plan to assure the economic viability of this business core. Although the 126 Street corridor and the Pennsylvania Street corridor were previously considered separate projects, it is now clear that they are closely related to the 2004 Amendment to the Integrated Economic Development Plan 44 Amended City Center Redevelopment Plan (2/10/04) economic success of the whole area. Therefore, this is an appropriate time to integrate all of the separate areas into a single, unified whole. Description of the Proposed Projects The Integrated 126` Street Economic Development Plan includes, by incorporation of all of the previous economic development plans, all of the projects originally proposed. (See Appendix) This Integrated EDPIan adds no new projects to the list of projects to be undertaken as a result of the economic development plans of the community. These projects are summarized below. The City Center Project The City Center project is proposed for an area of slightly less than 100 acres located along Rangeline Road and stretching from the City Hall on the south to the new alignment of 126` Street on the north. The dominant land uses in the area are commercial and governmental uses, however, about 61 acres of the area are totally unimproved. The primary proposed development within City Center project is commercial, and public space, including an entertainment complex with a theater, performing arts center and amphitheater. The City is also considering opportunities for museum space as part of the public space complex. Additional commercial, retail and office development is planned along the major transportation corridors as part of the overall development. The early phases of the project included land acquisition. Future phases are expected to include construction of parking facilities, infrastructure, and other project related activities, which would be anticipated to be eligible for COIT and TIF financing. 2004 Amendment: This 2004 amendment to the City Center Redevelopment Plan and Redevelopment Area serves to re- affirm the previous project list, especially with regard to those projects not yet completed, as well as the addition of the following projects: Storage /restroom building on Monon Trail $300,000 $500,000 Veteran's Memorial $75,000 $125,000 South Veteran's Way Roundabout $900,000 $1,000,000 2004 Amendment to the Integrated Economic Development Plan 45 Amended City Center Redevelopment Plan (2/10/04) East -west Retail Boulevard $500,000 $600,000 Repairs, renovation, remodeling of Public Spaces $175,000 $225,000 Infrastructure redevelopment, utility burial $650,000 $750,000 construction of the South Tower $400,000 $500,000 126 Street Extension /Completion The 126 Street corridor was completed as a result of previous financing and construction activity and is currently operative within the city's thoroughfare system. This project was critical to the developmental integration of the central sections of the city, and in providing additional thoroughfare access to the city's business core. The 126 Street project substantially increased traffic access and circulation within the business core, while simultaneously improving access to the government center and the City Center area. Pennsylvania Street Corridor Widening Financing for the Pennsylvania Street corridor widening project has already been completed through the issuance of public debt, and it is not anticipated that additional financing will be required. Future Projects Overview The Integrated EDPIan is presented for the purpose of integrating the economic development efforts of the City of Carmel over the past 5 years while projecting that same progress into the future. When the economic development planning efforts were originally initiated in 1996, the City's Leadership had a "schematic" vision of the future development of the central areas of the City (generally bounded) as follows: from Range Line Road on the east; to 1 16 th Street on the south; to the US31 corridor on the west; to 131 Street on the north). Based on that "schematic" vision, the city's Leadership moved forward with those portions of the vision which were the most fundamental, including projects such as the 126 Street Extension, the Pennsylvania Street corridor widening, and the Old Town streetscape improvements. Not long afterward, the City Center concept was developed sufficiently to be added to the long term plan. 2004 Amendment: Please note the above text, written and approved in 2000. The general boundaries described in the Integrated ED Plan 2004 Amendment to the Integrated Economic Development Plan 46 Amended City Center Redevelopment Plan (2/10/04) (2000) are almost a perfect prediction of the boundaries as seen in 2004. This consistency of vision should serve to reassure the public that the CRC and the City have carefully considered all of the available information and have charted a careful path, which continues to be validated. It is a positive testimony to the strength of this long term vision that the vision continues to grow while becoming more real. The 126 Street extension is now in place, and as a result, the community can more easily visualize the developmental importance of the "City Center" and the 126 Street corridor areas of the city. The Pennsylvania Corridor improvements have already helped to generate a positive image of growth, which has led to continued economic development along the US31 corridor in the form of new office and retail development. The Old Town streetscape improvements have dramatically improved the aesthetic character of downtown (which was once a primary concern of the Comprehensive Plan), to the point that major redevelopment proposals for the area are being received from the private sector. The City Center project continues to tangibly move toward reality, resulting in the direct cultivation of new opportunities for a performing arts center and other community amenities which were part of the original vision for the overall area. The economic development and redevelopment planning process which began in 1996 as a "schematic" concept, has moved forward. The original "fundamental" elements now appear as fragments of a puzzle which is becoming increasingly clear in terms of the City's development. And as that puzzle moves toward completion, the elements which once appeared as fragments are more clearly becoming a part of a single, integrated, developmental picture. Thus, it is appropriate to take the time to integrate these "fragments" into a single, operative, planning document so that the entire community can see the overall developmental picture, as well as the longer term vision, more clearly. This Integrated Economic Development Plan is intended to serve that purpose. UPDATED PROJECT LIST: Having offered the planning and development rationale which served as the conceptual basis for the previous economic development plans, it is therefore, appropriate to present the list of improvement projects which are anticipated to be a part of the final phases of implementation of the economic development strategy for this portion of the City. The projects are summarized in the table below. Project Minimum Maximum Estimate Estimate 2004 Amendment to the Integrated Economic Development Plan 47 Amended City Center Redevelopment Plan (2/10/04) Performing Arts Center $25,000,000 $30,000,000 Art Museum $14,000,000 $16,000,000 Land Acquisition for Old Town Redevelopment $3,500,000 $4,000,000 Street Department Maintenance Facility $1,500,000 $2,000,000 Land Acquisition along Range Line Road $1,800,000 $2,200,000 (near City Hall) Old Meridian Corridor Improvements $1,000,000 $1,500,000 Mohawk Center Development Redevelopment $5,000,000 $6,000,000 Activity Total Estimated Costs $51,800,000 $61,700,000 The project list presented above is offered with the intent of placing the entire list of projects into the venue of public discussion. It is important to understand that the list is presented as part of this Integrated Economic Development Plan. Therefore, the list is intended to represent the realm of future possibility, NOT as a list of "approved" projects. It is also appropriate to note that several of the projects listed above, in fact, were presented in the previous economic development and redevelopment for the area, as found in the appendix to this report. For example, the performing arts center was originally presented as part of the redevelopment plan for city center. The economic development planning process requires that all potential projects be listed in the Integrated Economic Development Plan in order to be considered for implementation in the future. Therefore, in order for a project to move from the realm of "possibility" to the realm of "reality, "the City and the Redevelopment Commission must identify appropriate financing. Economic Development Strategy The comprehensive plan for the City of Carmel over the last three decades demonstrates a substantial concern for the fate of the city's original core area. While Carmel has enjoyed high quality growth, there are some areas which were developed before the city could anticipate the success of its future. This original development is not compatible with a city which is nearing its developmental limits. The prime areas of need are in the vicinity of Rangeline Road, and with this understanding, the Economic Development Strategy for the Integrated Economic Development Area 2004 Amendment to the Integrated Economic Development Plan 48 Amended City Center Redevelopment Plan (2/10/04) contains the elements previously approved by the City, as follows: 1. The Carmel Redevelopment Commission amended the boundaries of the 126 Street Economic Development Area to reflect the boundaries shown on Map #1 (presented earlier in this document). 2. The City Center project was distinctly designed to re- direct the focal point of the community of Carmel. The Government Center was developed over the last decade to include a new City Hall, Police Station and Fire Station, as well as a central public space. 3. The Government Center is also adjacent to the Monon Trail corridor which is proposed for significant improvements creating a linear park, linked to Indianapolis and unequaled in the state of Indiana. 4. The proposed City Center project is expected to generate an entertainment complex, as well as new office /retail space to support and augment the space available in the Science Technology Park. The integration of these needs into the overall needs of Carmel's premier employment center assures that the City Center project will directly benefit the Integrated EDArea, as proposed. 5. The Redevelopment Commission established a Tax Allocation Area to coincide with the boundaries of the amended 126 Street Corridor Economic Development Area and issued COIT debt to support the initial phases of the City Center project. 6. The Redevelopment Commission should also consider the viability of using COIT bonding to assist in paying for the necessary improvements related to the City Center and Monon Trail projects. 7. The City should, in addition, consider pursuing additional phases of the City Center project in an appropriate manner, based on financing for specific projects or elements under the City Center plan, as presented previously. 2004 Amendment to the Integrated Economic Development Plan 49 Amended City Center Redevelopment Plan (2/10/04) Integrated EDPIan Conclusions The following conclusions are offered for the Integrated 126 Street Economic Development Plan. These conclusions also include by reference (see Appendix), the conclusions offered for the original EDPIans, as well as the City Center Redevelopment Plan and the Amended 126 Street Corridor Economic Development Plan. Based on the examination of the facts and the analysis set forth in this integrated EDPIan, the following conclusions are offered: 1. That the implementation of the City Center project will directly benefit the Integrated 126 Street Economic Development Area. 2. That the implementation of the City Center project will help to developmentally unify the entirety of the business core of the City of Carmel, including the Rangeline Road corridor, the Old Town (historic downtown) area, and the Science and Technology Park. 3. That the need for the 126 Street extension project has proven beneficial to the thoroughfare system of the area. 4. That the 126 Street extension project directly benefitted the City Center project. 5. That the future economic development of the entire area, including the amended 126 Street Corridor Economic Development Area, the Old Town Economic Development Area and the City Center Redevelopment Area, as the business core for the community will be directly benefitted by the projects proposed in this Integrated Economic Development Plan. 6. That it was appropriate to delete the City Center project area from the original 126 Street Corridor Economic Development Area in order to facilitate the creation of the City Center Redevelopment Area and to implement the City Center project. 7. That it was appropriate to extend the boundaries of the 126 Street Corridor Economic Development Area to take in a larger portion of the Science Technology Park, due to the economic interdependence of the economic development areas as the functional employment center for the community. 8. That a positive economic impact resulted from the implementation of the projects recommended in these previous Economic Development Plans in the form of supporting the creation of new permanent jobs, securing existing jobs and generation of additional tax revenues to the City. 9. That if this Integrated Economic Development Plan is not approved and 2004 Amendment to the Integrated Economic Development Plan 50 Amended City Center Redevelopment Plan (2/10/04) the recommended projects are not implemented, it will be more difficult for the community to achieve the levels of economic intensity and competitive efficiencies which would otherwise be possible with the implementation of the City Center and other projects already undertaken within these EDAreas. 10. That it is appropriate to offer public financing for certain portions of the proposed projects as an economic stimulus for the proposed projects. 11. That the City and the Redevelopment Commission should seek private sectors partners to assist in the implementation of the recommended projects and in assembling project "packages" which will minimize the public sector investment and optimize the economic impact of the projects. The Redevelopment Commission has done an outstanding job of analyzing and implementing an appropriate level of activity to encourage the optimal economic development of the interdependent economic development areas. The conclusions of this Integrated Economic Development Plan are predicated on the continued performance of objective analysis, public policy direction, and the formation of partnerships with the Plan Commission and the City Council necessary to assure the success of the projects. Integrated EDPIan Recommendations Based on the information presented, the analyses performed and the findings and conclusions of this Integrated Economic Development Plan, the following recommendations are presented for the consideration of the Carmel Redevelopment Commission, and thereafter to the City Council for approval. 1. That the Carmel Redevelopment Commission should formally integrate the boundaries of the amended 126 Street Corridor Economic Development Area and the Pennsylvania Street North South Economic Development Areas to create one, single, Integrated Economic Development Area. This action will result in greater clarity and simplicity of public policy with regard to economic development initiatives for this business core area. The resulting boundaries are shown in Map #2 and the boundary description was presented earlier in this EDPlan. 2. That the Carmel Redevelopment Commission add the two areas not previously included within the economic development areas (as shown on Map #2) to the Integrated 126 Street Economic 2004 Amendment to the Integrated Economic Development Plan 51 Amended City Center Redevelopment Plan (2/10/04) Development Area. 3. That the Carmel Redevelopment Commission should formally create a Tax Increment Finance (TIF), Tax Allocation Area whose boundaries are shown on Map #4. 4. That the Carmel Redevelopment Commission should formally approve this Integrated Economic Development Plan and undertake further implementation of additional phases of the City Center project, and the Monon Trail corridor improvements. 5. That the Carmel Redevelopment Commission should work directly with the City to develop a financial plan for the implementation of the City Center project, including eminent domain actions and negotiated purchases, as well as financing for additional phases of the project, as determined necessary by cooperative efforts of the Redevelopment Commission, the City Administration and the City Council. 2004 Amendment to the Integrated Economic Development Plan 52 Amended City Center Redevelopment Plan (2/10/04) Parcels Potentially to be Acquired The following parcels have been identified as those proposed to be acquired by the CRDC in pursuit of the Economic Development Strategy. Please note that the City or the CRDC may be acquiring most or all of these parcels through negotiated purchase, rather than eminent domain. [126 Street Corridor Economic Development Area Range Line Road Parcels, west side of road, adjacent/east of City Hall] Calc. Area Parcel Number Principal Tax Payer 1609360000023000 Phillip L Judith E Stewart P 0 Box 374 Carmel IN 0.66327 1609360000022000 Phillip L Judith Stewart P 0 Box 374 Carmel IN 0.663455 1609360000021000 Marketing Services of Indiana Inc 1040 Range Line Rd S Carmel IN 0.66366 1609360000020000 Marketing Services of Indiana Inc 1040 Range Line Rd S Carmel IN 0.603548 1609360000018001 Thomas D Stayer 1036 Range Line Rd S Carmel IN 0.441222 1609360000019000 Marketing Services of Indiana Inc 1040 Range Line Rd S Carmel IN 0.196017 1609360000018000 Marketing Services of Indiana Inc 1040 Range Line Rd S Carmel IN 8.721126 1609250000014000 Harry C Elliott 620 A Range Line Rd S Carmel IN (a.k.a. Elliot's Mohawk Plaza) [Old Town Economic Development Area Main Street Parcels, north south side of road, adjacent/east of Monon Trail] Calc. Area Parcel Number Primary Taxpayer 0.194119 1609251601013000 TWM Inc 11711 College Ave N St 160 Carmel IN 0.193816 1609251601012000 TWM Inc 11711 College Ave N St 160 Carmel IN 0.200128 1609251601011000 TWM Inc 11711 College Ave N St 160 Carmel IN 0.200121 1609251601010000 TWM Inc 11711 College Ave N St 160 Carmel IN 0.146806 1609251602031000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN 0.304346 1609251602030000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN 0.122907 1609251602029000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN 0.1448 1609251602004000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN 0.315283 1609251602001000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN 0.250083 1609251201030000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074 3.108e -002 1609251201029000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074 9.4009e -002 1609251201028000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074 0.125078 1609251201027000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074 0.250104 1609251201026000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074 0.250144 1609251201025000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074 7.028e -003 1609251201024000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074 0.204721 1609251201023000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074 6.0383e -002 1609251201020000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074 0.219223 1609251605003000 Glenn A Amy D Dunkerly 111 First St SW Carmel IN [Old Town Economic Development Area Main Street and Range Line parcels, SE Corner] Calc. Area Parcel No. Primary Taxpayer 0.245325 1610300301031000 MA LLC 111 Range Line Rd S Carmel IN 2004 Amendment to the Integrated Economic Development Plan 53 Amended City Center Redevelopment Plan (2/10/04) Pro 0.210521 1610300301030000 William E Marcia A Foreman 41 Range Line Rd S Carmel IN 0.198334 1610300301008000 William E Marcia A Foreman 40 1st Ave SE Carmel IN 0.170281 1610300301007000 William E Marcia A Foreman 0 1st Ave SE Carmel IN 9.8435e -002 1610300301005000 Carmel Clay Chamber of Commerce Inc 41 Main St E Carmel IN 0.213587 1610300301004000 Gen Ii Marketing Inc. 31 Main St E Carmel IN 0.111165 1610300301003000 Marshall E Andich P 0 Box 494 Carmel IN 9.0456e -002 1610300301002000 Marshall E Sandra Lee Andich P 0 Box 494 Carmel IN 7.0215e -002 1610300301001000 Marshall E Andich P 0 Box 494 Carmel IN 8.5747e -002 1610300301006000 City of Carmel One Civic Sq. Carmel IN 2004 Amendment: This amendment to the Integrated ED Plan as well as the 2004 Amendment to the City Center Redevelopment Plan includes an amendment to the list of parcels to be acquired by the CRC, as part of the amended City Center RD Area. These parcels are listed as follows: (Insert table of parcels from declaratory resolution) /cr 2004integ draft 2004 Amendment to the Integrated Economic Development Plan 54 Amended City Center Redevelopment Plan (2/10/04)