Loading...
HomeMy WebLinkAboutResolution 00007-12-18-PCTHAT: RESOLUTION NO. 00007- 12 -18 -PC RESOLUTION OF THE CARMEL PLAN COMMISSION DETERMINING THAT A RESOLUTION AND AN ECONOMIC DEVELOPMENT PLAN APPROVED AND ADOPTED BY THE CITY OF CARMEL REDEVELOPMENT COMMISSION CONFORM TO THE PLAN OF DEVELOPMENT N AND PLA WITH MODIFICAT O SL AND APPROVING THE RESOLUTION the Carmel Plan Commission (the "Plan Commission is the body charged with the duty of developing a general plan of development for the City of Cannel, Indiana (the "City and WHEREAS, the City of Cannel Redevelopment Commission (the "Redevelopment Commission as the governing body for the City of Carmel Redevelopment Department (the "Department pursuant to Indiana Code 36 -7 -14, as amended (the "Act), adopted a Declaratory Resolution on December 22, 2006 (the "Declaratory Resolution designating an area known as the WestClay Economic Development Area (the "Economic Development Area as an economic development area pursuant to Section 41 of the Act; and WHEREAS, the Declaratory Resolution approved an economic development plan for the Economic Development Area designated as the "WestClay Economic Development Plan" (the "Plan and WHEREAS, the Redevelopment Commission has submitted the Declaratory Resolution and the Plan to the Plan Commission for approval attached hereto and made a part hereof; and WHEREAS, of the Act, which Declaratory Resolution and P lan are WHEREAS, the Plan Commission has determined that the boundaries of the Economic Development Area should be amended as set forth in Exhibit A hereto, and that the Declaratory Resolution and the Plan should be modified accordingly; and WHEREAS, the Plan Commission has determined that the Plan should be modified to read in its entirety as set forth in Exhibit B hereto; and WHEREAS, in determining the location and extent of the Economic Development Area, the Plan Commission has determined that no residents of the City of Cannel will be displaced by the proposed development thereof; and WHEREAS, the Plan Commission has reviewed the Declaratory Resolution and the Plan to the plan of and determined that, with the modifications o a ety Resolution and the Plan development for the City, and now desires approve the Declaratory with such modifications. NOW, THEREFORE, BE IT RESOLVED BY THE CARMEL PLAN COMMISSION, 1. The Plan Commission hereby finds and determines that the Declaratory Resolution and the Plan for the Economic Development Area, with the modification to the boundaries of the Economic Development Area set forth in Exhibit A hereto and with the modifications to the Plan set forth in Exhibit B hereto, conform to the plan of development for the City. 2. The Declaratory Resolution and the Plan for the Economic Development Area are hereby approved on the conditions that (a) the boundaries of the Economic Development Area are amended as set forth in Exhibit A hereto, and (b) the Plan is revised to read as set forth in Exhibit B hereto. 3. This Resolution hereby constitutes the written order of the Plan Commission approving the Declaratory Resolution and the Plan for the Economic Development Area pursuant to Section 16 of the Act. 4. The Secretary is hereby directed to file a copy of the Declaratory Resolution and the Plan for the Economic Development Area with the minutes of this meeting. Ot SO RESOLVED BY THE CARMEL PLAN COMMISSION this te day of 2007. ATTEST: CARMEL PLAN COMMISSION President The proposed WestClay Economic Development Area is located at the southwest quadrant of the intersection of 131 Street and Towne Road. The boundaries of the WestClay ED Area to be created for the purpose of capturing TIF increment from future commercial development at the Village of WestClay (SW corner of 131st and Towne Road) are described as follows: Beginning at the point of intersection of the west right of way line of Towne Road and the south right of way line of 131 Street, then proceeding westward along the south right of way line of 131 Street to the point of intersection with the eastern boundary of parcel 17- 09- 29- 00 -00- 012.0 (parcel 17-09-29-00-00- 012.000 is NOT to be included in the ED Area), then proceeding southward along the eastern boundary of parcel 17- 09- 29- 00 -00- 012.00 to the point of intersection with the southern boundary of parcel 17- 09- 29- 00 -20- 003. then proceeding eastward along the southern boundaries of parcels 17- 09- 29- 00 -20- 003. and parcels 17- 09- 29- 00 -20- 004.0 to the southeast corner of parcel 17- 09- 29- 00 -20- 004. then proceeding directly eastward, across the right of way of Pettigru Drive to the point of intersection with the western boundary of parcel 17- 09- 29- 00 -14- 010. then proceeding eastward, southward and eastward along the southern and western boundaries of parcel 17- 09- 29- 00 -14- 010. to the point of intersection with the western right of way line of Towne Road, then turning northward to the point of beginning. This legal description is intended to contain the following parcels, according to the Hamilton County Auditor's website (November 20, 2007): 17- 09- 29- 00 -19- 001.00 17- 09- 29- 00 -19- 002.0 17- 09- 29- 00 -20- 001.00 17- 09- 29- 00 -20- 001.00 17- 09- 29- 00 -20- 001.00 17- 09- 29- 00 -20- 002.000 17- 09- 29- 00 -20- 003.000 17- 09- 29- 00 -20- 003.00 17- 09- 29- 00 -20- 004.000 17- 09- 29- 00 -20- 005.00 17- 09- 29- 00 -14- 010.000 INDSOI BDD 994459v3 EXHIBIT B Revised WestClay Economic Development Plan See attached plan. -5- City of Carmel Hamilton County, Indiana draft WestClay Economic Development Plan December 1, 2007 Deleted: November 20 Michael R. Shaver, President 3799 Steeplechase Drive Carmel, IN 46032 (voice) 317/872 -9529 (fax) 317/872 -9885 (e -mail) wabsci @aol.com WestClay Economic Development Plan Carmel, Indiana Purpose of the Economic Development Area Plan This Economic Development Plan is being developed for the sole purpose of capturing tax increment revenue from a,neighborhood serving commercial development proposal on parcels of land located in the Village of WestClay. These parcels of land are zoned for commercial services, retail and a continuing care retirement community (CCRC),, all to be located in the southwest quadrant of the intersection of 131 Towne Road. The CCRC,development carries a corporate form of ownership and generates no school children, thereby making it eligible for the capture of tax increment. This type of commercial development is designed to enjoy the convenience of services and retail shopping virtually next door. The development at this location consists of approximately 100,000 square feet of commercial and retail space_, This neighborhood,center is strategically located like, other similar neighborhood commercial,areas,in ,the City of Carmel, consistent with the polices in the 2020 Comprehensive Plan (as amended). kis designed to offer choice and convenience for the neighborhood residents (in western Carmel). The WestClay ED Area is shown on,map 1, provided earlier in this ED Plan. This ED Area Plan are being developed for the specific purpose of including the WestClay ED Area Plan into the Integrated Economic Development Plan for the City of Carmel, with the integrated findings of fact and integrated economic development polices previously presented to the public and adopted by the Carmel Redevelopment Commission (CRC) in 2000. In the Integrated Economic Development Plan, the CRC set forth the general policy that the redevelopment of the City Center Area, including all City Center Redevelopment projects, are considered to benefit the community as a whole, having a positive affecting; all economic development throughout Carmel. This general policy premise is,reasserted,in WestClay ED Area Plan. To state the case more directly, the CRC hereby offers this ED Plan for public discussion with the specific 'r note that the CRC intends to capture tax increment from the WestClay ED Area for the purpose of supporting the revenue needed to repay bonds issued to construct the performing arts center, and other community supporting infrastructure. Description of the Proposed Economic Development Area The proposed WestClay Economic Development Area is,located at the southwest quadrant of the intersection of 131 Street and Towne Road. The boundaries of the, WestClay ED Area to be created for the purpose of,capturing TIP increment from,future commercial development at the Village of WestClay (SW corner of 131st and Towne Road) are described as follows: Beginning at the point of intersection of the west right of way line of Towne Road and the south right of way line of 131 Street, WestClay Economic Development Plan 071201 3 Deleted: retail Deleted: for Deleted: Deleted: as well as a highly specialized form of high- density elderly commercial development, Deleted: and Deleted: are Deleted: high- density elderly commercial Deleted: retail Deleted: which was originally designed as part of the Village of WestClay. Deleted: retail Deleted: competes with the Deleted: retail Deleted: of Deleted: Deleted: and Deleted: capture retail spending in western t Deleted: Clay Township. f Deleted: the f l Deleted: previous Deleted: for public discussion l Deleted: c Deleted: remainder of Deleted: hereby Deleted: by the CRC Deleted: public Deleted: consideration of Deleted: on of Deleted: generally Deleted: potential Deleted: potentially Deleted: proposed then proceeding westward along the south right of way line of 131 Street to the point of intersection with the eastern boundary of parcel 17- 09- 29- 00 -00- 012.000 (parcel 17 -09- 29-00-00- 012.000 is NOT to be included in the ED Area), then proceeding southward along the eastern boundary of parcel 17-09-29-00-00- 012.000, to the point of intersection with the southern boundary of parcel 17- 09- 29 -00- 20- 003.000, then proceeding eastward along the southern boundaries of parcels 17-09-29-00-20- 003.000 and parcels 17- 09- 29- 00 -20- 004.000 to the southeast corner of parcel 17- 09 -29- 00-20- 004.000, then proceeding directly eastward, across the right of way of Pettigru Drive to the point of intersection with the western boundary of parcel 17- 09- 29- 00 -14- 010.000, then proceeding eastward, southward and eastward along the southern and western boundaries of parcel 17- 09- 29- 00 -14- 010.000 to the point of intersection with the western right of way line of Towne Road, then turning northward to the point of beginning. This legal description is intended to contain the following parcels, according to the Hamilton County Auditor's website (November 20, 2007): 17- 09- 29- 00 -19- 001.000 17- 09- 29 -00 -19- 002.000 17- 09- 29- 00 -20- 001.000 17- 09- 29- 00 -20- 001.001 17 -09 -29 -00-20 001.002 17- 09- 29 -00 -20- 002.000 17- 09- 29 -00 -20 -003 000, 17- 09- 29- 00 -20- 003.001 17- 09- 29- 00 -20- 004.000 17- 09- 29 -00 -20- 005.000 17- 09- 29- 00 -14- 010.000 WestClay Retail /Commercial Development Proposal The Carmel Plan Commission and City Council have approved a retail /commercial development,at this location within the Village of WestClay. The approved development, will include a mixed -use retail development with some office, retail and other uses, specifically targeted for support of residential development located in the immediate area (western Carmel) Thisproject,will be developed with greater intensity than the previous agricultural uses, the previously planned /approved West Clay residential uses, and was thoroughly discussed as it moved through the plan commission process, before being approved by Carmel's City Council. The previous approval of the West Clay retail by Carmel Plan Commission and Carmel City Council is interpreted by the CRC as proof in fact of the conformity of this ED Plan to the overall plan of development for the ED Area, as required by statute. The CRC believes that it has developed an ED policy process which respects the statutory role WestClay Economic Development Plan 071201 4 Formatted: Font color: Red Deleted: as Deleted: proposal Deleted: v Deleted: proposal l Deleted: Deleted: lay Township, as well as the city of Carmel and Westfield. Deleted: development proposal indicates that the newly developed parcels of the Plan Commission in the development process, as well as respecting that similar, confined role in the ED Area designation and ED Plan approval process. Economic Development Plan to Become a Part of the Integrated ED Plan It is the intent of the CRC that this "WestClay Economic Development Plan," (WestClay ED Plan) and designated "WestClay Economic Development Area," (WestClay ED Area) will become a part of the Carmel Integrated Economic Development Plan (2000), as amended. The CRC previously created a series of separate Economic Development Areas, as well as one redevelopment area (City Center, 1997), and developed an integrated series of plans and strategies for the purpose of generating complimentary economic development and redevelopment of these areas throughout the city of Carmel, both individually and collectively. The CRC has developed (and amended over time to reflect progress in meeting economic development and redevelopment policies and on identified projects) an Integrated Economic Development Redevelopment Plan itemizing the individual strategies and projects from all of these TIF -based areas, as well as integrating all projects from all ED RD Areas into a single, functioning whole, with the central goal of enabling the City of Carmel to utilize TIF revenues from all ED RD Areas to benefit the City Center redevelopment initiatives. It is the intent of the CRC that the "WestClay Economic Development Area" will become a part of the integrated Economic Development and Redevelopment Areas, with all projects and strategies for the city of Carmel and CRC to be integrated and coordinated with one another. As such, TIF revenue generated by the WestClay ED Area is extended the same CRC policy provisions as revenue from the other ED RD Areas, in that TIF revenues generated within the WestClay ED Area can be used to benefit the City Center Redevelopment Area, and such use of the TIF revenue in City Center will directly serve and benefit the WestClay ED Area. Most specifically, the CRC publicly advances the intent to capture tax increment revenue for the purposes of securing the performing arts center bonds, in the event that there is a shortfall of such revenue. Incorporation of Previous Findings This Economic Development Plan incorporates any and all previous findings of fact and findings of blight related to previous designations of Economic Development Areas and /or Redevelopment Areas for the purpose of capturing TIF revenues. As such, in addition to the specific findings of fact offered below, this Economic Development Plan also officially incorporates previous findings of fact related to the designation of other Economic Development Areas covering the affected /designated parcels, as well as the findings of blight that were previously approved as part of the City Center Redevelopment Plan. The incorporation of previous findings is undertaken with the direct intent of enabling the CRC to supplement the specific findings offered in this WestClay Economic Development Plan, in the event of legal or public disputes. Any citizen seeking full documentation of all findings related to this designation should consult this WestClay Economic Development Plan as well as the Integrated Economic Development Plan and WestClay Economic Development Plan 071201 5 Redevelopment Plan, as amended and promulgated by the CRC. The Integrated Economic Development Redevelopment Plans contain all previous ED RD Plans for the CRC. WestClay Findings of Fact Indiana statute IC 36 -7 -14 provides for the formation of an Economic Development Area in accordance with the following criteria: 1. The plan for the Economic Development Area: promotes significant opportunities for the gainful employment of its citizens; attracts major new business enterprise to the unit (of government); retains or expands a significant business enterprise existing in the unit, or; meets other purposes of redevelopment and economic development. 2. The plan for the Economic Development Area cannot be achieved by regulatory processes, or by the ordinary operation of private enterprise because of: lack of public improvements, existence of improvements or conditions that lower the value of land below that of nearby land; multiple ownership of land; or other similar conditions. 3. The public health and welfare will be benefited by the plan for the economic development of the area. 4. The accomplishment of the plan for the Economic Development Area will be a public utility and benefit as measured by: the attraction or retention of permanent jobs; an increase in the property tax base, or; improve the diversity and economic base or other similar benefits. 5. The plan for the Economic Development area conforms to other Development and Redevelopment Plans of the unit. Finding of Fact #1: "...the plan promotes significant opportunities for the gainful employment of its citizens; attract major new business enterprise; ...retains or expands a significant business enterprise existing in the unit...." Designation of the WestClay Economic Development Area is undertaken for the specific purpose of capturing proposed commercial retail development into the integrated economic development areas. The specific target market for this commercial /retail development is the capture of business activity supported by neighboring residential development is estimated that 150 -300 full -time equivalent jobs will be created in the commercial /retail area captured by the WestClay ED Area designation. In addition, it is the intent of the City that developments in the WestClay EDA attract complementary new business enterprise to the Village Clay Vill ge Center, consistent with the approved plan for the overall Village of West Clay. The CRC is responding directly to an approved development plan with the full expectation that new employment opportunities will be captured in this ED Area, and as such, it is determined that the proposed Economic Development Area meets this statutory finding of fact. Finding of Fact #2: "the plan... cannot be achieved by regulatory processes or by the ordinary operation of private enterprise because of lack of public improvements... or other similar conditions." WestClay Economic Development Plan 071201 6 Deleted: lay Township, as well as eastern Eagle Township in Boone County, and western Washington Township in Hamilton County Deleted: WestClay developer Deleted: to Deleted: attract Deleted: ED A Deleted: rea Deleted: in response to reluctance of other units of govemment to approve commercial /retail development in the general area Deleted: roposal in WestClay The designation of the WestClay ED Area responds to a series of conditions that relate to the development of commercial parcels in support of broad -scale residential development. The original Village of WestClay was approved in 1999 as a `new urbanism' concept which included a central, commercial/retail area, the Village Center, consisting of 250,000 square feet of space The Village Centerplan, was not readily accepted by the market, and, thus, in 2005 -2006 an amended plan was proposed by the developer which shifted 100,000 square feet of commercial away from the Village Center, to the SW quadrant of Towne Road and 131, Street. This plan amendment was, reviewed and approved,by the Carmel Plan Commission and Carmel City Council the ED Area designation reflects the final approval. The City's Economic Development Plans and policies cannot only be achieved through traditional regulatory processes, or through the normal operation of private enterprise for Deleted: several reasons. First, the City Center redevelopment projects, as reflected in the Integrated ED/RD Plan (of which the WestClay ED Plan will become a part) cannot be accomplished through the normal operation of private enterprise or through the regulatory process. Obstacles to successful redevelopment are becoming more difficult as a result of uncoordinated or uninformed state legislative actions and policies L which frustrate and elongate redevelopment efforts. These state -level actions add to the difficulty of achieving successful redevelopment of City Center, and contribute to the need to draw potential revenues from new development toward the City Center in order to keep redevelopment plans on track. Second, while the WestClay developer has provided amplified levels of infrastructure support in the vicinity of the ED Area, the historic lack of coordinated infrastructure investment,in the broader area of western Carmel has exposed other infrastructure needs and inadequacies. The City of Carmel is moving to address these problems with new road construction bonds and major infrastructure projects, and this ED Area designation is intended to be a part of this comprehensive effort to address the infrastructure needs of the area. Addressing ihese,infrastructure needs cannot effectively be addressed through regulatory action or through the normal operation of private enterprise, especially insofar as a growing portion of, increased traffic patterns are coming from outside of the regulatory jurisdiction of the city of Carmel. Furthermore, the City Center Redevelopment Area was designated with a full complement of findings of blight, indicating that the area was suffering from lack of private investment, urban deterioration and other blighting influences. These findings are also hereby incorporated into this economic development plan by reference. The additional findings of fact necessary to meet the statutory requirements for designation of the WestClay Economic Development Area are intended to supplement, rather than replace, the previous findings of fact and findings of blight, which are a part of the Integrated Economic Development Redevelopment Plan. The Carmel Redevelopment Commission has undertaken an extended series of planning, design, and construction projects in central Carmel to create a dynamic environment for WestClay Economic Development Plan 071201 7 Deleted: from the beginning. Deleted: areas Deleted: ere Formatted: Superscript j Deleted: amended Deleted: during 2005 -06 Deleted: knee -jerk Deleted: at the state level Deleted: intensity of redevelopment Deleted: Clay Township f Deleted: T Deleted: increasing Deleted: those needs reflect Deleted: of blight economic development and redevelopment, as a catalyst for future private sector investment and job creation. The City Center Redevelopment Plan clearly stated an extensive intent on the part of the City of Carmel to develop a broad range of public improvements to draw economic, recreational and arts activity into the City Center, possibly including a performing arts center, an art museum, various new streets /roads, various improvements to existing streets /roads, expansion/enhancement of public parking facilities, sidewalk and road improvements, and other forms of public improvements. The Clay ED Area designation is intended as_,an extension of the previously- stated policy on the part of the CRC. The entirety of the CRC economic development strategy depends upon making major public improvements in order to enable the WestClay Economic Development Area to serve its portion of a city with over 60,000 population, and a metropolitan trade area of nearly 200,000 population. Clearly, the public improvements serving the City Center area when the redevelopment and economic areas were originally established in 1997, including infrastructure and parking, were designed to serve a small town of less than 2,000 people. Therefore, investment in public infrastructure is required in order to serve the anticipated growth and developmental of Carmel to,a community of 100,000 population or more, anticipated in the adopted 2020 Comprehensive Plan. Th ,need for major public improvements are unlikely to be effectively realized through simple regulatory enforcement or normal operation of private enterprise. The sum of these arguments leads to the conclusion, hat the CRC can only achieve its economic development, community development and central Carmel redevelopment goals through the creative application of development partnerships and comprehensive infrastructure investment. In creating those partnerships, economic development and redevelopment incentives can be applied to those development proposals which meet the CRC's criteria and vision, but in no case can the simple operation of private enterprise or the simple application of regulatory processes lead to a successful outcome. As such, the proposed WestClay Economic Development Area, as part of the integrated EDA, is determined to meet this statutory finding of fact. Finding of Fact #3: "the public health and welfare will be benefited..." The proposal to create the WestClay Economic Development Area will benefit the public health and welfare in several ways, as follows: 1. The public welfare will be benefited by providing new jobs and for employment of the citizens of Carmel opportunities in the City Center area, as a result of the proposed developments. 2. The public welfare will be benefited by introducing new opportunities for arts, entertainment and cultural enhancement in the City Center. 3. The public welfare will be benefited through the development of retail /commercial business to serve neighboring residents, reducing travel time, fuel consumption and air pollution related to commercial business trips originating in the area. 4. The public welfare will be benefited by creation of new assessed value within the Economic Development Area. 5. The public health will be benefited by improvements to safety features and local transportation and infrastructure which are designed to reduce the incidence and severity WestClay Economic Development Plan 071201 8 Deleted: is Deleted: simply Deleted: at Deleted: increase its developmental intensity so as Deleted: existing Deleted: if Deleted: intensity is to be increased to serve I Deleted: 50,000 Deleted: t Deleted: re will be a Deleted: which Deleted: only one possible f Deleted: of traffic accidents, including pedestrians struck by vehicles, as well as vehicular accidents. 6. The public health will be benefited by infrastructure improvements which reduce traffic congestion and thus improve local air quality. 7. The public health will be benefited by providing enhanced roadway design other thoroughfare amenities which provides customers with safe access to businesses in the ED Area. It has been the CRC's strategy since the 1997 to enhance the quality of life in Carmel by improving the downtown and City Center area to offer more arts, recreational, and cultural opportunities to citizens of Carmel and the metropolitan area. Effectively, "quality of life" and "public health and welfare" are synonymous terms. Therefore, the CRC hereby asserts that this statutory finding is satisfied. Finding of Fact #4: accomplishment of the plan will be of public utility... as measured by: the attraction or retention a permanent jobs; an increase in the property tax base... or other similar benefits." The CRC hereby asserts that the accomplishment of this Economic Development Plan, including its goals, objectives, strategies, and projects, will be of public utility, as defined in the statute. The approved development will increase the number of permanent jobs in the ED Area by approximately 150 -300 jobs, as well as supporting the retention of existing jobs which are already located in the Arts District and City Center. In addition, it is clear that the approved commercial /retail development will also increase the property tax base, as well as contribute to,the economic base of the City of Carmel. These proposed developments, by providing shopping convenience in neighboring residential areas., help make the community better place to live, and, thus, will help improve the city's business investment climate,for attractive for new growth and, retentionof -a broad range of new businesses, including small, start-up businesses, major commercial businesses and arts- related businesses. Many of these businesses could not be attracted or retained, or otherwise would not be permitted to grow, without developments such as,this neighborhood retail /commercial development, which make the overall city a better place to live and work. While Carmel has a number of areas where major new office /retail development is occurring, including the US 31 Corridor, ,the number of these n ghborhood serving facilities in the western Clay Township area is extremely limited. As such, the CRC asserts that the WestClay ED Area Plan meet this statutory requirement. Finding of Fact #5: "the plan for the Economic Development Area conforms to other development and redevelopment plans of the unit." The CRC hereby asserts that the WestClay Economic Development Plan conforms in every respect to the other economic development and redevelopment plans for the area. The Carmel Plan Commission has previously considered and approved the development of the commercial /retail parcels that comprise the proposed WestClay ED Area. By virtue of the Plan Commission's approval of this retail /commercial development, the CRC hereby asserts that the Plan Commission and City Council has approved the development as conforming to the comprehensive plan for the area. WestClay Economic Development Plan 071201 9 Deleted: beginning Deleted: diversify Deleted: to Deleted: and Deleted: ain Deleted: the ones supported by Deleted: Deleted: types of This Economic Development Plan alters none of the previous findings of the Integrated ED Plan Area. The City and the Plan Commission have worked cooperatively since the inception of economic development and redevelopment efforts by the CRC. This Economic Development Plan cannot reasonably be interpreted in any manner that does not conform to the overall plan of development and redevelopment for the City of Carmel, and as such, is expected that this statutory finding of fact is satisfied. Economic Development Strategy The CRC seeks to designate the WestClay Economic Development Area for the purpose of promoting the overall economic development and redevelopment strategies and policies of the CRC. The CRC's strategy for designating this Economic Development Area is primarily directed at integrating the economic development and redevelopment activities and policies of the CRC for the entire City. The CRC has been consistent with regard to its overall economic development and redevelopment objective: Beginning with the original "Integrated Economic Development Area Plan" and continuing through several subsequent amendments, as well as the creation of several subsequent ED Areas, the CRC has publicly maintained their initial economic development and redevelopment strategies. The fundamental premise of these ED/RD strategies is that in order to combat urban blight caused by removal of investment and existing substandard infrastructure in,Carmel's urban core, the CRC must implement policies which recognize the interdependence of `suburban' and `urban' economic development projects. The CRC has consistently taken the position that an economically unhealthy urban core will cause or contribute to suburban economic development deterioratiol and therefore that redevelopment projects in City Center do, in fact, directly benefit the `suburban' economic development areas by maintaining an economically healthy downtown, and, overall healthy climate for development investment and job creation The CRC has sought constructive partnerships with developers possessing the professional capability to successfully implement development and redevelopment projects which are compatible with the CRC's vision for the City Center area. This ED Area designation is therefore consistent with previous and continuing CRC economic development and redevelopment projects. Economic Development Projects The CRC's intent with regard to creation of the WestClay ED Area includes the use of TIF funds for the following projects in conjunction with the approved retail /commercial development. Cost item Potential revenue support for City Center projects Estimated cost (min /max) $1 million to $3 million WestClay Economic Development Plan 071201 10 Deleted: policies Deleted: from Deleted: the Deleted: to Deleted: e Thoroughfare Corridor Improvements $500,000 to $1 million Ingress /Egress provisions (including handicapped access) $100,000 to $500,000 Other infrastructure support $100,000 to $500,000 Preliminary Subtotal of Estimated Project Costs $1.7 million to $5 million In addition to the economic development projects presented above, the CRC acknowledges that potential future TIF revenues can be used to support redevelopment projects undertaken by the CRC in the City Center Area, and that such use of the excess TIF revenues will directly serve and benefit the WestClay ED Area, in accordance with statutory requirements. /crc WestClay ed plan WestClay Economic Development Plan 071201 11