HomeMy WebLinkAboutCRC-03-31-10 CRC Meeting March 31, 2010
CARMEL REDEVELOPMENT COMMISSION Meeting, Wednesday,
March 31 2010
President Ron Carter called the meeting to order at 6:07 p.m. Commission members Bill
Hammer, Greg Phillips and Jeff Worrell were present, constituting a quorum. Also
present were Les Olds, Karl Haas, Megan McVicker and Matt Worthley.
Others present:
Mayor Brainard, Todd May, Greg Small, Glen Meinecke and Jim Mullet
The Pledge of Allegiance was said.
Presentation: 116 Street Centre by J.C. Hart/Enuicor
Steve Hardin, attorney with Baker Daniels, was in attendance to represent J.C. Hart
and Equicor in their proposal for the TIF package. Mr. Hardin introduced those present
with J.C. Hart (Todd May) and Equicor (Greg Small and Glen Meinecke).
Mr. Hardin referenced the packet provided to Commissioners with regards to the property
location and description of the project. The remaining areas of the project were
originally slated for commercial and townhome development; however, with the current
economic situation and market interest, JC Hart and Equicor presented a revised plan that
would permit apartments rather than townhomes within the project. Mr. Hardin stated
they have worked closely with the City in their plans and outlined benefits the project
would provide to the City.
As the first step for this TIF package, on February 1, 2010 the City Council unanimously
approved the PUD Ordinance amendment to allow apartments within the project. The
second step is the presentation to the Commission for the TIF Financing area.
Mr. Carter stated he would like 8 -12 bicycle lockers considered in the project as they
continue their plans.
Old Business
No old business at this time.
New Business
Authorization of Staff and Consultants to Complete Preparation of TIF Application for
116` Street Centre TIF
Mr. Olds stated the only issue was asking the developer to sign a reimbursement
agreement for efforts in carrying out the initial TIF investigation work. Petitioner has
been notified and has accepted that they will be signing the document. This is routine
procedure for this type of TIF application.
Mr. Worrell moved to approve the authorization of staff and consultants to complete
preparation of TIF application for the 116 Street Centre project. Seconded by Mr.
Hammer and unanimously approved.
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CRC Meeting March 31, 2010
Authorization of the Purchase of the Remaining Tenant in Common Interest Parcel #10
Mr. Haas stated this is a continuation of reworking the ownership and financing structure
for Parcel 10. The Redevelopment Commission currently has an interest as a tenant in
common in the property, with this purchase completing the process of converting the
Redevelopment Commission to full owner.
Preliminary appraisals obtained on the project are in the high $2 million to $3 million
range. The purchase price for the property is $2.3 million. Shapiro's Delicatessen will
pay all operating expenses for the building and percentage rent.
Mr. Carter commented that while he thinks what they are doing is appropriate, it would
be short term with the opening of City Center and Concert Hall and the number of nights
they would be utilized would provide ample traffic to that location.
Mr. Hammer moved to approve Resolution 2010 -4 Re: Acquisition of Interest in Parcel
10 under an installment contract for any remaining interests in Parcel 10 and the
improvements constructed thereon. Seconded by Mr. Worrell and passed unanimously.
Adjournment
Mr. Worrell moved the meeting be adjourned and seconded by Mr. Hammer. The
meeting was adjourned at 6:40 p.m.
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