HomeMy WebLinkAboutCRC-2010-7 Est. Carmel City Center Comm. Dev. CITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO. -2010
WHEREAS, Carmel City Center Community Development Corporation "4CDC is a community
development corporation formed for the purpose of constructing, rehabilitating, and /or repairing commercial
property within the district;
WHEREAS, pursuant to IC §36 -7 -14- 12.2(26), CRC may provide financial assistance (including
grants and loans) to community development corporations to permit such community development corporations
to construct, rehabilitate, or repair commercial property within the district;
WHEREAS, CRC desires to make a grant to 4CDC in an amount not to exceed
$10,000,000.00, which grant shall be for purposes consistent with IC §36- 7- 14- 12.2(26) (the "Grant
WHEREAS, the Grant will be funded primarily from funds that: (a) currently are being held by
The Bank of New York Mellon Trust Company, N.A., as bond trustee for The City of Carmel Redevelopment
Authority Lease Rental Revenue Bonds of 2005; and (b) will be released upon substantial completion of the
concert hall currently under construction on the real estate commonly referred to as "Parcel 7a and
WHEREAS, the Grant will be made and administered pursuant to a grant agreement executed
by and between CRC and 4CDC, which Grant Agreement will give CRC oversight of the use of the proceeds
of the Grant (the "Grant Agreement
NOW, THEREFORE, BE IT RESOLVED THAT:
1. CRC hereby authorizes the making of the Grant.
2. Ronald E. Carter, as President of CRC, hereby is authorized to execute the Grant Agreement and any
and all other documents relating to the making, administration, pledge, and /or assignment of the Grant
(collectively, the "Grant Documents which Grant Documents shall be on terms and conditions: (a) consistent
with this Resolution; and (b) otherwise as determined by Ronald E. Carter, as President of CRC, to be necessary
or appropriate.
3. Ronald E. Carter, as President of CRC, hereby is authorized to delegate the execution of the Grant
Documents to another member of CRC in his absence.
Passed by the City of Carmel Redevelopment Commission this 28 day of June, 2010, by a
vote of ayes and 0 nays.
CITY OF CARMEL REDEVELOPMENT CO MISSIS
Y
001,0 g E. Carter President
By: !i iyy v�j
illiam H miner- Vieresid nt
.l e- P
BY: Pt arol cal (f r, Secretary
By t
J ofrell
By:
Thomas Crowley
Z: \Documents\Shoup, Jenny \City of Cormel \Res olutions Wpprovol of 28Junl0
Grun\ by CRC to 4CDC.w•pd