Loading...
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