166928 12/10/2008 CITY OF CARMEL, INDIANA VENDOR: 00351669 Page 1 of 1
ONE CIVIC SQUARE UMBAUGH ASSOCIATES CHECK AMOUNT: $100,754.68
CARMEL, INDIANA 46032 PO Box 40458
INDIANAPOLIS IN 46240 -0458 CHECK NUMBER: 166928
CHECK DATE: 12/10/2008
DEPARTMENT ACCOUNT PO NUMBER I NVOICE NUMBER AMOUNT DESCRIPTION
902 4340400 115908 10,104.68 CONSULTING FEES
902 4340400 116087 52,090.00 116085
902 4340400 116091 12,130.00 116091
'E902 4460847 116091 26,430.00 116087
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Umbaugh
8365 Keystone Crossing, Suite 300
P.O. Box 40458
Indianapolis, IN 46240 -0458
(317) 465 -1500
Carmel Redevelopment Commission
C/o Ms. Sherry Mielke, Finance Director
111 West Main Street, Suite 140
Carmel, IN 46032
Re: Tax Increment (TIF) Services
Invoice No. 116091
Date 11/11/1008
Client No. C00600
L
For financial services rendered through October 31, 2008 for the following (see attached detail of
services): b
TIF and financial services related to PAC 16,760.00
TIF Administration and Monitoring for various TIF Areas 10,620.00
2008 TIF Bonds Post -Bond Closing Services 1.510.00
Current Amount Due 890 00
WIRING INSTRUCTIONS
H. J. Umbaugh Associates
Key Bank
Account Number 1215504838
Routing Number 041001039
Umbaugh
8365 Keystone Crossing, Suite 300
P.O. Box 40458
Indianapolis, IN 46240-0458
(317) 465.1500
Carmel Redevelopment Commission
c% Ms. Sherry Mielke, Finance Director
111 W. Main Street, Suite 140
Carmel, IN 46032
Re: Invoice Detail for TIF and Financial Services related to PAC
(RED 3, RED 13 and RED 7)
Invoice No. 116091
Date 11/11/2008
Client No. C00600
DATE SERVICE STAFF MEMO RATE HOURS AMOUNT
7/2/2008 Correspondence Matthes,Lo email from Karl re: Installment Loan bank financing options 325 0.25 81.25
713 /2008 Financial Development Matthes,Lo Discussing email from Karl financing options, 325 5 1625.00
scenarios; questions and responses from Karl
7/3/2008 Financial Development Cli ford,R Discussion of Installment purchase. 195 1.5 292.50
7/3/2008 Financial Development Semler,Jas Meet to discuss installment contracts 225 1.5 337.50
7114/2008 Financial Development Matthes,Lo prep for meeting w/ kart at al re Installment contract 325 0.5 162.50
7115/2008 Correspondence Matthes,Lo Curt Coonrod re: installment contract and 325 025 81.25
schedules; send Curt the final 2008 TIF Bond
7/15/2008 Meetings Semier,Jas Meeting to discuss installment contracts 225 3.75 843.75
7/15/2008 Meetings Matthes,Lo with Mayor, Les, Karl and Sherry re: installment 325 2 650.00
contract, bank options, and various topics and
Issues related to performing art center, theater, etc.
7/15/2008 Expense- Mileage Semler,Jas 7,02
7/21/2008 Financial Development Matthes,Lo Schedule of Taxpayers with 2% AV in TIF Areas 325 0.25 81.25
7/25/2008 Financial Development Matthes,Lo discussing interest rate and structuring options to 325 1 325.00
prepare prellminary amortization for the $26 MM
installment contract payments
7/25/2008 Financial Development Matthes,Lo Review financing alternatives for PAC installment loan 325 2 650.00
draws, SWAPS, adj. Int.retes, Int earnings per request from
Karl Haas discuss with Semler and Clifford
7/25/2008 Financial Development Cll ford,R Review financing alternatives with Semler and Matthes 195 0.5 97.50
7/2512008 Financial Development Semler,Jas Discuss project with Loren and Bob 225 3 675.00
7/28/2008 Financial Development Matthes,Lo Instructions re: installment contract schedules 325 1 325.00
7/28/2008 Financial Development Dickman,He FS 160 4.5 720.00
7/28/2008 Financial Development Semler,Jas Review debt service schedules 225 1.5 337.50
71292008 Financial Development Dickman,He FS 160 1.75 280.00
7/29/2008 Financial Development Semler,Jas Review debt service schedules 225 0.25 56.25
7/29/2008 Financial Development Matthes,Lo review and revise Installment Contract schedules, 325 1 325.00
71302008 Financial Development Dickman,He FS 160 0.25 40.00
7/302008 Financial Development Matthes,Lo final review and changes to draft schedules 325 0.75 243.75
7/302008 Correspondence Matthes,Lo email to Curt and Karl re: draft installment contract 325 0.5 162.50
schedules assumptions and scenarios, etc.
8/1112008 Meetings Matthes,Lo Karl Haas re: installment contract 325 0.25 81.25
8282008 Financial Development Matthes,Lo Discuss w/ Jason and Heidi new installment loan 325 1 325.00
scenarios that Karl needs
8292008 Financial Development Matthes,Lo structuring installment loan scenarios, discussing 325 1 325.00
8/292008 Financial Development Dickman,He FS 160 5 800.00
92/2008 Financial Development Dickman,He TIF Update 160 4.25 680.00
9/32008 Financial Development Matthes,Lo installment contract structuring discuss w/ Heidi 325 0.25 81.25
9/412008 Financial Development Dickman,He TIF estimate 160 0.75 120.00
9/82008 Teleconferences Semler,Jas Discuss 30 year life for TIF areas with Bruce 225 0.25 56.25
9/16/2008 Financial Development Dickman,He TIF Base date check; TIF Estimate update 160 5 800.00
9/17/2008 Financial Development Matthes,Lo review, change, review revised installment 325 1 325.00
contract schedules (Heidi email to Curl and Karl)
9/172008 Financial Development Matthes,Lo updated TIF projection for Curt Coonrod 325 0.75 243.75
discussions with Heidi, review
9/172008 Financial Development Messer,Jef Discuss Investments, rates, etc. 205 0.5 102.50
91292008 Teleconferences Matthes,Lo Karl Haas re: TIF sufficiency for Ersal contract loan in 325 0.75 243.75
combination with other CRC-Pedcor installment loans,
Parking Garage O&M and taxes, and other CRC costs
9/292008 Financial Development Matthes,Lo review HJU installment schedules in prep. for call 325 0.25 81.25
with Karl Haas
10/92008 Financial Development Matthes,Lo request from Mayor and Nancy Heck for revised 325 1 325.00
graph and schedule showing PAC debt and TIF
est; email Nancy; discuss w/ hledi; review
schedule and graph, add disclaimer footnote, etc.
10/9/2008 Financial Development Dickman,He TIF Update 160 2 320.00
10/92008 Correspondence Matthes,Lo discuss w/ GGM attorney Karl Haas and Coonrod CPA 325 1.5 487.50
may have distributed our schedules to banks without our
permission or disclosure; draft email to Coonrod and Haas to
provide clear understanding that they do not have permission
to distribute our schedules to a third party without full
disclosure of assumptions and risks.
10/10/2008 Financial Development Dickman,He TIF debt Comparison 160 2 320.00
10/10/2008 Financial Development Matthes,Lo additional request from Nancy Heck for revised 325 1 325.00
2005 graph related to PAC debt and TIF est;
discuss w/ Hedi; review schedule and graph
10/10)2006 Correspondence Matthes,Lo email to attorney Karl Haas and Coonrod CPA to provide 325 0.25 81.25
them with the clear understanding that they do not have
permission to distribute our schedules to a third party (banks)
without full disclosure of assumptions and risks.
10/10/2008 Teleconferences Matthes,Lo Mayor at al from meeting re: HJU 2008 TIF 325 0.25 81.25
estimate and recent distribution
10/1312008 Financial Development Matthes,Lo discuss installment payments and graphs for 325 0.5 162.50
Nancy for Mayor's CRC presentation
10/13/2008 Financial Development Semler,Jas Discuss graphs and loans with Loren and Heidi 225 0.5 112.50
10/1312008 Financial Development Dickman,He TIF Charts 160 0.5 80.00
10114/2008 Financial Development Dickman,He TIF Debt Comparison Charts 160 1 160.00
10/14/2008 Financial Development Matthes,Lo discuss installment loan payments and compare to Karl's 325 0.5 162.50
10/14/2008 Financial Development Semler,Jas Discuss with Loren and Heidi, review Karl's schedules 225 3 675.00
10/14/2008 Teleconferences Matthes,Lo Sherry and Jason re: cash flow 325 0.25 81.25
10/16/2008 Teleconferences Matthes,Lo Curt Coonrod 325 0.25 81.25
10/21/2008 Financial Development Matthes,Lo discuss wl Jason -TIF est and CRC meeting 325 0.25 81.25
lack of opportunity for full disclosure of assumptions, risks, etc.
10129/2008 Teleconferences Matthes,Lo Dave Coots, attorney questions re: Carmel TIF 325 0.5 162.50
and Guilford devl
10/29/2008 Correspondence Matthes,Lo Cannel Councilor re: question about installment 325 0.25 81.25
contract structure
10/30/2008 Financial Development Matthes,Lo discuss w/ Heidi research parcel question from 325 0.25 81.25
Dave Coots, attorney re: Carmel TIF and Guilford dev't
10/30/2008 Correspondence Matthes,Lo Carmel Councilor re: question about installment 325 0.5 162.50
contract structure
10/31/2008 Teleconferences Matthes,Lo Curt Coonrod 325 0.25 81.25
TOTALS 70.5 $16,769.52
Umbaugh
8365 Keystone Crossing, Suite 300
P.O. Box 40458
Indianapolis, IN 46240 -0458
(317) 465 -1500
Carmel Redevelopment Commission
cto Ms. Sherry Mielke, Finance Director
111 W. Main Street, Suite 140
Carmel, IN 46032
Re: 2008 TIF Administration and Monitoring Services Invoice Detail (RED6)
Invoice No. 116091
Date 11/11/2008
Client No. C00600
DATE SERVICE STAFF MEMO RATE HOURS AMOUNT
7/15/2008 Financial Development Fetters,Ry Carmel TIF schedule $140 1 $140.00
7/15/2008 Correspondence Matthes,Lo email from Sherry re: potential Tax Anticipation 325 0.5 162.50
Warrant borrowing due to delayed property taxes;
email Sherry, Diana Cordray and Cindy re:
possibility of temporary City interfund borrowing
7/16/2008 Financial Development Fetters,Ry Updates to Carmel Taxpayer schedule 140 1.75 245.00
7/16/2008 Financial Development Fetters,Ry TIF growth 140 1.5 210.00
7/21/2008 Financial Development Dickman,He Karl Haas: 2% taxpayers; research 160 0.25 40.00
7/22/2008 Financial Development Dickman,He Oustanding Debt 160 3.5 560.00
7/23/2008 Financial Development Semler,Jas review debt for Lee 225 0.25 56.25
7123/2008 Financial Development Dickman,He Outstanding debt update /and for Coonrod CPA 160 4.5 720.00
7/24/2008 Financial Development Baumer,Kat Made changes to outstanding debt summary 100 2.5 250.00
7/24/2008 Financial Development Dickman,He Outstanding debt check 160 2.25 360.00
7/25/2008 Financial Development Fetters,Ry proof for jason 140 2.75 385.00
7125/2008 Financial Development Semler,Jas Review debt for Lee and Curt 225 2.75 618.75
7/25/2008 Financial Development Matthes,Lo review outstanding debt and TIF comparison info 325 2 650.00
for all TIF bonds prepared for Curt Coonrod;
review outstanding debt as of 2009 for DLGF
Neutralization form
7/28/2008 Financial Development Dickman,He Outstanding debt summary 160 2.5 400.00
7131/2008 Financial Development Semler,Jas Assist Heidi with looking at Declaratory Resolutions 225 0.25 56.25
7/31/2008 Financial Development Baumer,Kat TIF Area Resolution Dates/Confirming areas 100 5 500.00
7/31/2008 Financial Development Dickman,He Resolution prep 160 0.5 80.00
8/1/2008 Financial Development Baumer,Kat Resolution Dates Research 100 0.25 25.00
8/1/2008 Financial Development Dickman,He resolution date proof 160 1.5 240.00
8/5/2008 Financial Development Baumer,Kat TIF Resolution date research 100 1.25 125.00
8/6/2008 Financial Development Dickman,He Resolution sheet update 160 0.25 40.00
8/11/2008 Financial Development Semler,Jas update TIF estimates for Curt 225 0.5 112.50
8111/2008 Financial Development Dickman,He TIF Update 160 0.75 120.00
8/18/2008 Financial Development Dickman,He O Debt look up assistance w KAH 160 0.25 40.00
8/2212008 Financial Development Rauh,Linds Comparing estimated TIF distributions to actual 120 1.75 210.00
8/25/2008 Financial Development Semler,Jas Review spring settlement and appeals 225 3.5 787.50
8/25/2008 Financial Development Dickman,He TIF Update 160 0.5 80.00
8/25/2008 Financial Development Rauh,Linds Comparing estimated TIF distributions to actual 120 3.75 450.00
8/26/2008 Financial Development Semler,Jas Review spring settlement and appeals 225. 1 225.00
8/26/2008 Financial Development Rauh,Linds Comparing TIF databases 120 1 120.00
8116/2008 Financial Development Dickman,He TIF Parcel research 160 2 320.00
8/27/2008 Financial Development Semler,Jas Review spring settlement and appeals 225 1 225.00
8/27/2008 Financial Development Dickman,He TIF update 160 325 520.00
6/28/2008 Financial Development Semler,Jas Review spring settlement and appeals 225 0.75 168.75
8/28/2008 Financial Development Dickman,He Lauth abatement research 160 1.5 240.00
8/28/2008 Financial Development Matthes,Lo discuss tax appeals, impact on TIF, projections, etc. 325 0.5 162.50
9/17/2008 Teleconferences Matthes,Lo Sherry Mielke re: 20081st TIF distribution, bond pymts 325 0.25 81.25
10/15/2008 Financial Development Halloran,K Begin preparing Base Neutralization 140 1.75 245.00
10/30/2008 Financial Development Dickman,He US31 project- disc w LMM 160 1 150.00
10130/2008 Teleconferences Matthes,Lo Meridian Corridor Study discuss w/ Heidi the parcel 325 0.5 162.50
AV info request from Glenn Gareis; voice mall to Glen
10/30/2008 Financial Development Dickman,He TIF Database and Lee's question 160 1 160.00
10/31/2008 Teleconferences Semler,Jas Review declaratory resolution, discuss TIF areas w /Lee 225 0.75 168.75
TOTALS 64.25 $10,622.50
Umbaugh
8365 Keystone Crossing, Suite 300
P.O. Box 40458
Indianapolis, IN 46240 -0458
(317) 465 -1500
Carmel Redevelopment Commission
c/o Ms. Sherry Mielke, Finance Director
111 W. Main Street, Suite 140
Carmel, IN 46032
Re: 2008 TIF Bonds Invoke Detail (RED22)
Invoice No. 116091
Date 11/11/2008
Client No. C00600
DATE SERVICE STAFF MEMO RATE HOURS AMOUNT
7/24/2008 Regulatory Reports Bawcum,Geo Revisions to DLGF Post Bond Sale Report 225 1.25 281.25
7124/2008 Regulatory Reports Matthes,Lo preparation/review of DLGF Debt form; emails to 325 1 325.00
and from Diana Cordray
7/25/2008 Regulatory Reports Matthes,Lo review revised DLGF debt into form for 2008 Bonds 325 0.5 162.50
7/28/2008 Regulatory Reports Bawcum,Geo Filing of DLGF Post Bond Sale Report 225 0.25 56.25
7128/2008 Bond Closing other Matthes,Lo follow -up with Cindy. Sherry and Moody's on Invoices 325 1 325.00
related to Bonds; provide a list of invoices and est fees
7/29/2008 Bond Closing other Matthes,Lo additional requests for ASL and FOS 325 0.25 81.25
101712008 Document Management Green, OI Closing file 85 1.5 127.50
E140 Mileage 7/11 rental car for tour of rating analysts 2223
E185 Telephone charges 6/9/08, 6/12/08, 6/13/08 Teleconference charges ratings 133.78
TOTALS 5.75 $1,514.76
Umbaugh
8365 Keystone Crossing, Suite 300
P.O. Box 40458
Indianapolis, IN 46240 -0458
(317) 465 -1500
Carmel Redevelopment Commission
c% Ms. Sherry Mielke, Finance Director
111 West Main Street, Suite 140
Carmel, IN 46032
Re: Tax Increment (TIF) Feasibility
Related to the Carmel Lofts Project
by Keystone Corp.
Invoice No. 116087
Date 11/11/2008
Client No. C00600. RED23
For financial services rendered from June 1, 2008 through October 31, 2008 related to the Lofts Project by
Keystone Corp. including preparation of tax increment estimates, financing feasibility analysis and options,
and tax impact analyses. See attached detail of services.
Current Amount Due 26.430 00
WIRING INSTRUCTIONS
H. J. Umbaugh Associates
KeyBank
Account Number 1215504838
Routing Number 041001039
Umbaugh
8365 Keystone Crossing, Suite 300
P.O. Box 40458
Indianapolis, IN 46240 -0458
(317) 465 -1500
Carmel Redevelopment Commission
c/o Ms. Sherry Mielke, Finance Director
111 W. Main Street, Suite 140
Carmel, IN 46032
Re: 2008 TIF Feasibility related to Carmel Lofts Project by Keystone Corp. Invoice Detail (RED23)
invoice No. 116087
Date 11/112008
Client No. C00600
DATE SERVICE STAFF MEMO RATE HOURS AMOUNT
6/16/2008 Financial Development Matthes,Lo Ersal's proposal review schedules from Core Capital $325 0.5 $162.50
6/162008 Teleconferences Matthes,Lo Ersal re: proposal, new development on 325 1.5 487.50
Hearthview site, estimating TIF, parking garage,
environmental risks, financing options, etc.
6/162008 Correspondence Matthes,Lo Ersal's proposal email from and to Bruce re: TIF 325 0.5 162.50
est, info needed, bond schedules, security,etc.
6/162008 Correspondence Matthes,Lo 325 0.25 81.25
6/17/2008 Financial Development Matthes,Lo 325 3 975.00
6/172008 Financial Development Dickman,He Ersal project 160 4.75 760.00
6/17/2008 Teleconferences Matthes,Lo Ersal and Bruce re: parking garage options, TIF, 325 1.25 406.25
etc. for CRC; add'I calls w/ Ersal, vm Karl
8/152008 Legal Documents Matthes,Lo 325 0.5 162.50
811512008 Engagement Planning Matthes,Lo 325 0.5 162.50
8/182008 Regulatory Report Dickman,He Tax Impact Statement (TIS) Analysis Report 160 1.75 280.00
8/19/2008 Regulatory Report Dlckman,He TIS 160 2.75 440.00
820/2008 Regulatory Reports Matthes,Lo TIS 325 0.5 162.50
8202008 Financial Development Eckerle,Ma Proofed schedules for HLD 180 0.75 120.00
8202008 Financial Development Matthes,Lo Revised TIF and schedules without the Parking Garage 325 0.25 81.25
820/2008 Regulatory Report Dickman,He TIS; disc w LMM Ersal 160 6.25 1000.00
8202008 Teleconferences Matthes,Lo Ersal, Bruce Donaldson 325 1 325.00
826/2008 Regulatory Reports Dickman,He TIS 160 1 160.00
8/262008 Correspondence Matthes,Lo emails and calls w/ Bruce and Ersal re: Impact 325 0.5 162.50
Stmt, Bank Term sheets for two diff. bonds, etc.
828/2008 Financial Development Matthes,Lo discussionstfinancial planning re: different financing 325 1 325.00
options: TIF EDC bonds, installment contract, shortfall
etc.; bond and interest rate assumptions, etc.
8/282008 Financial Development Dickman,He Discuss and prepare FS 160 1 160.00
8/28/2008 Bond Sale Matthes,Lo discussions /planning term sheets for banks 325 0.5 162.50
8/28/2008 Teteconferences Matthes,Lo Bruce Donaldson re: financing options 325 0.25 81.25
8/282008 Correspondence Matthes,Lo Ersal 325 0.25 81.25
8/282008 Engagement Planning Semler,Jas Discuss with Loren and Heidi 225 1.75 393.75
8129/2008 Legal Documents Matthes,Lo 325 1.5 487.50
8129/2008 Regulatory Reports Matthes,Lo TIS 325 1 325.00
8/292008 Financial Development Dickman,He TIF Financing Feasibility Analysis (FS) 160 0.5 80.00
8/292008 Financial Development Semler,Jas 225 0.75 168.75
9/22008 Regulatory Reports Matthes,Lo Tax Impact Statement 325 2.5 812.50
912/2008 Financial Development Dickman,He FS 160 2 320.00
9/2/2008 Correspondence Matthes,Lo 325 0.25 81.25
9/32008 Correspondence Matthes,Lo communications re: Council did not pass the 325 0.25 81.25
Resolution; hold -up on distribution of TIS
9/132008 Correspondence Matthes,Lo email from Ersal, email to Randy Ruhl from City 325 0.5 162.50
Securities in response to call regarding the
financing/underwriting of the EDC Bonds
9/152008 Financial Development Matthes,Lo follow -up getting info related to base 325 0.25 81.25
9/15/2008 Financial Development Dickman,He Ersal base date discuss w LMM 160 1 160.00
91162008 Financial Development Eckede,Ma Proofing schedules for HLD 160 0.75 120.00
9/16/2008 Financial Development Matthes,Lo review base schedule need to break out land and 325 0.5 162.50
building value for all the parcels, est. taxes, etc. to
show the difference of zero base/CRC ownership
9/1612008 Financial Development Dickman,He Base value calc 160 1 160.00
9/162008 Correspondence Matthes,Lo email to Ersal re: base value, ownership, timing 325 0.5 162.50
considerations and Impacts on TIF
9/172008 Financial Development Eckerle,Ma Proofed TIF schedules for HLD 160 1 160.00
9/182008 Teleconferences Matthes,Lo Ersal 325 0.5 162.50
9/18/2008 Correspondence Matthes,Lo email from and to Councilmen Seidensticker re: 325 0.75 243.75
captialized interest, bonds, etc.; email Ersal
9122/2008 Financial Development Dickman,He Base value update 160 2.5 400.00
9/22/2008 Financial Development Matthes,Lo discuss w/ Heidi additional TIF options per Ersal, 325 1 325.00
changes to base AV schedule, adjustments to TIF
for base, conservative and aggressive TIF
estimates and revised bond analysis
9/22/2008 Correspondence Matthes,Lo email from Ersal re: base, additional TIF options 325 0.25 81.25
and bond analysis
9/23/2008 Expense Matthes,Lo 10 miles 0.59 5.85
9/23/2008 Financial Development Rauh,Linds Proofing and revising TIF feasibility 120 1.25 150.00
9/23/2008 Financial Development Matthes,Lo review property cards, discuss schedule to 325 2 650.00
break -out apts vs retail, etc.; discuss Ersal's cost
estimate variance from assessments for retail and
apartments. TIF and bond options, aggressive
option assumptions, TIS assumptions, etc.
9/2312008 Financial Development Dickman,He TIF FS TIS 160 3 480.00
9/23008 Travel Matthes,Lo 325 0.5 162.50
9/23/2008 Bond Sale Matthes,Lo discussions about potential banks w/ jeff messer; 325 0.5 162.50
call City Securities re: taxable TIF bonds and prices
9/23/2008 Meetings Matthes,Lo EDC Meeting; and meet after w/ Ersal and Bruce 325 1 325.00
9/23/2008 Teleconferences Matthes,Lo Ersal, Bruce 325 0.5 162.50
9/24/2008 Legal Documents Matthes,Lo revised Loan Agreement, TI, EDC doc's, etc. 325 1 325.00
9/24/2008 Regulatory Reports Matthes,Lo review /revise TIS 325 1.75 568.75
9/24/2008 Regulatory Reports Dickman,He TIS, FS 160 3.5 560.00
9/24/2008 Financial Development Matthes,Lo discussions and review re: revised numbers Amli 325 2 650.00
property tax card comparison, compare to Ersal's
cost esfs and sq. ft, etc.
9/24/1008 Financial Development Rauh,Unds TIF feasibility 120 3.25 390.00
9/24/2008 Teleconferences Matthes,Lo Katie from Regions Bank 325 0.25 81.25
9125/2008 Expense UPS charges TIS Distribution 113.76
9/25/2008 Regulatory Reports Matthes,Lo TIS review Bruce's changes; email to Bruce re: 325 1 325.00
9/25/2008 Regulatory Reports Dickman,He TIS update/FS 160 1.75 280.00
912512008 Regulatory Reports Mack,Tonya Tax Impct Stmt, copy, mail 85 0.75 63.75
9/25/2008 Financial Development Semler,Jas Review schedules with Heidi 225 0.75 168.75
9/25/2008 Financial Development Semler,Jas Discuss schedules with Loren and Lindsay 225 1.75 393.75
9125/2008 Financial Development Matthes,Lo review and discuss revised TIF scenarios and 325 2 650.00
bond schedules
9125/2008 Financial Development Rauh,Unds TIF feasibility 120 3 360.00
9/26/2008 Financial Development Matthes,Lo review revised TIF scenarios and bond schedules 325 0.75 243.75
9/26/2008 Correspondence Matthes,Lo, email Ersal and explain 2 TIF scenarios, etc. 325 0.75 243.75
9129/2008 Financial Development Matthes,Lo discuss Ersal's email and impact of parking 325 1 325.00
garage increases with Jason, also discuss CRC
installment contracts and PAC TIF, additonal
costs, etc. on Combo schedule
9/29/2008 Correspondence Matthes,Lo with Ersal re: parking garage assessment, banks, 325 0.5 162.50
9/29/2008 Financial Development Semler,Jas Discuss schedules with Loren 225 1 225.00
9130/2008 Financial Development Matthes,Lo revised scenario 2 325 0.5 162.50
9/30/2008 Bond Sale Matthes,Lo news on bank credittviability, bankrating.com 325 1 325.00
website discuss with Jeff Messer and send info
to Ersal; research bank ratings
9130/2008 Correspondence Matthes,Lo Ersal re: revised Scenario 2; also email about banks 325 0.5 162.50
9/30/2008 Financial Development Semler,Jas revise schedules 225 0.5 112.50
1011/2008 Teleconferences Matthes,Lo conf call wl Ersal, joe, bruce re: installment contracts 325 0.25 81.25
1011/2008 Correspondence Matthes,Lo emails related to Ersal's project and CRC 325 0.25 81.25
10/2/2008 Bond Sale Matthes,Lo call Tom Enright, City Securities discuss EDC 325 0.25 8125
Bonds and est. int. rate
1 013120 0 8 Correspondence Matthes,Lo email from Regions Bank to Ersal with questions 325 0.5 162.50
about Bonds and security, etc.; respond to
questions email Ersal and Bruce
10/6/2008 Expense Matthes,Lo 10 miles 0.59 5.85
10/6/2008 Financial Development Matthes,Lo prepare for Council Meeting 325 0.5 162.50
10/6/2008 Travel Matthes,Lo 325 0.5 162.50
10/6/2008 Meetings Matthes,Lo Council meeting 325 3 975.00
10/7 /2008 Expense Semler,Jas 8.69
10(1/2008 Financial Development Matthes,Lo prep Jason for CRC meeting; Tax Impact Stmt, 325 0.75 243.75
update on financing schedules, EDC Bonds,
installment contract, discuss change in estimated
AV based on cost for the Lofts DeA land value,
base change, orig. PAC TIF estimates, etc.
10/7/2008 Bond Sale Matthes,Lo Term Sheet 325 0.75 243.75
108/2008 Meetings Semler,Jas Prepare for and attend RDC meeting 225 3 675.00
10/8/2008 Legal Documents Matthes,Lo Ex. E Installment Contract Terms from Karl 325 0.5 162.50
10/812008 Financial Development Matthes,Lo revising bond schedule for 25 yr limit; adjust cap. 325 0.75 243.75
1018/2008 Bond Sale Matthes,Lo revising Term Sheet 325 1.25 406.25
1018/2008 Bond Sale Dickman,He Term Sheet 160 2 320.00
10/8/2008 Correspondence Matthes,Lo send draft Tenn Sheet for EDC Bonds to Ersal; 325 0.25 81.25
email Karl re: financing terms for installment contract
10/9/2008 Financial Development Matthes,Lo rate history info for Ersal comparison of LIBOR 325 1 325.00
vs Prime; dictate email to Heidi to send to Ersal re:
historical comparison, etc.
10/9/2008 Financial Development Dickman,He Interest Rate comparison 160 1 160.00
1019/2008 Bond Sale Matthes,Lo email Ersal re: rates, underwriters and banks 325 0.5 145.00
10/912008 Financial Development Eckede,Ma Interest rate Information for HLD (LIBOR and 160 0.25 40.00
Prime historical info)
1011312008 Financial Development Dickman,He update charts, Review Installment Contract term 160 2 320.00
sheet amounts; disc w JGS LMM
10/22/2008 Bond Sale Matthes,Lo Randy Ruhl from City Securities discuss Ersal's 325 0.75 243.75
project, EDC Bonds, Carmel TIF CRC installment
contract; email term sheet; email exchange with S.
Bibo at Cabrera Capital re: bonds
10128/2008 Bond Sale Matthes,Lo communications w/ Randy -City Securities and Ersal 325 0.25 81.25
TOTALS 109.75 $26,435.40
Umbaugh
8365 Keystone Crossing, Suite 300
P.O. Box 40458
Indianapolis, IN 46240 -0458
(317) 465 -1500
Carmel Redevelopment Commission
c% Ms. Sherry Mielke, Finance Director
111 West Main Street, Suite 140
Carmel, IN 46032
Re: Tax Increment (TIF) Feasibility
Related to the Legacy Project
Invoice No. 116085
Date 11/11/2008
Client No. C00600
For financial services rendered from January 1, 2008 through October 31, 2008 related to the Legacy
Project, including preparation of tax increment estimates, financing feasibility analyses and options, and
tax impact analyses. See attached detail of services
Current Amount Due 52.090.00
WIRING INSTRUCTIONS
H. J. Umbaugh Associates
KeyBank
Account Number 1215504838
Routing Number 041001039
Umbaugh
8365 Keystone Crossing, Suite 300
P.O. Box 40458
Indianapolis, IN 46240-0458
(317) 465 -1500
Carmel Redevelopment Commission
c/o Ms. Sherry Mbelke, Finance Director
111 W. Main Street, Suite 140
Carmel, IN 46032
Re: 2008 TIF Feasibility related to the Legacy Project Invoice Detail (RED20)
Invoice No. 116085
Date 11/11/2008
Client No. C00600
DATE SERVICE STAFF MEMO RATE HOURS AMOUNT
121/2008 Travel Matthes,Lo travel and parking $325 1.5 $487.50
1/2112008 Meetings Semler,Jas 225 2.5 562.50
1/2112008 Meetings Matthes,Lo Platinum Properties re: development and TIF feasibility 325 1.5 487.50
1/23/2008 Financial Development Dickman,He TIF Financing Feasibility (FS) 160 0.75 120.00
1/23/2008 Correspondence Matthes,Lo email from and to Paul Rioux w/ dev't info 325 0.25 81.25
1/24/2008 Financial Development Dickman,He FS 160 0.5 80.00
1/24/2008 Financial Development Halloran,K Look up comparables and update TIF schedule. 140 3.5 490.00
1/25/2008 Financial Development HalloranX Update schedules and find comparables for TIF 140 3.5 490.00
Feasiblity.
1/25/2008 Financial Development Dickman,He FS 160 1 160.00
1/2812008 Accounting Report Semler,Jas Private Placement Memorandum Accounting 225 1.5 337.50
Report (PPM AR)
12812008 Financial Development Dickman,He FS 160 0.5 80.00
129/2008 Financial Development Dickman,He FS 160 0.25 40.00
1292008 Financial Development Halloran,K Finish comparables for TIF Feasibility and create 140 5 700.00
bond schedule based on the possible revenues.
1/302008 Financial Development Halloran,K Work on TIF Feasibility and proof. 140 1 140.00
1/312008 Financial Development Semler,Jas 225 1 225.00
2/1/2008 Regulatory Report Semler,Jas Discuss schedules with LMM, send to working group 225 1.5 337.50
2/1/2008 Financial Development Halloran,K Create schedules to estimate TIF Revenue and 140 6 840.00
show possible bond options.
2/42008 Financial Development Halloran,K Make changes and corrections to schedules. 140 2 280.00
2/612008 Financial Development Matthes,Lo 325 0.25 81.25
21712008 Financial Development Matthes,Lo TIF Feasibility review 325 1 325.00
2/72008 Financial Development Dickman,He FS 160 0.25 40.00
2/11/2008 Meetings Matthes,Lo meeting to discuss TIF Feasibility schedules with 325 1.5 487.50
Paul and Steve
2/112008 Meetings Semler,Jas 225 1.25 281.25
3/5/2008 Expense- Mileage Matthes,Lo 16 miles 8.08
3/5/2008 Meetings Semler,Jas Meet with developer, revise schedules 225 3.5 787.50
3/5/2008 Travel Matthes,Lo 325 1 325.00
3162008 Financial Development Halloran,K make new schedules for the of feasibility. 140 3 420.00
3f7/2008 Financial Development Halloran,K Re -run financing options in Munex with different 140 2.5 350.00
project costs.
3/102008 Financial Development Semler,Jas Review schedules 225 0.75 168.75
3/102008 Financial Development Halloran,K Make changes and corrections to amortization 140 1 140.00
schedules
3/17/2008 Financial Development Matthes,Lo review and revise schedules 325 2 650.00
3/1912008 Financial Development Matthes,Lo 325 1 325.00
3/19/2008 Correspondence Matthes,Lo emails from Rich Starkey and Steve Pitman, email 325 0.5. 162.50
revised schedules with note about the revisions
47/2008 Correspondence Matthes,Lo emails re: timetable, bond counsel for CRC, Econ. 325 0.5 162.50
Dev't Plan, Wabash Sci., info needed. CRC
changed meeting dates, etc.
4/8/2008 Teleconferences Matthes,Lo Steve Pitman re: Rick Sharp and Mayor's Input 325 1 325.00
and concerns re TIF benefits, costs and impact'
discuss analyses
4/112008 Correspondence Matthes,Lo Steve Pitman re: engineer cost diH. for developer 325 0.25 81.25
vs city funded roads for analysis
4212008 Correspondence Matthes,Lo emails re: CRC bond counsel and F.A., etc. 325 0.5 162.50
423/2008 Financial Development Matthes,Lo tax impact analysis, etc. 325 0.75 243.75
4282008 Engagement planning Semler,Jas Discuss schedules with Heidi 225 0.75 168.75
4282008 Engagement planning Dickman,He Discuss w JGS 160 0.25 40.00
5/5/2008 Regulatory Report Halloran,K Prepare Tax Impact Statement (TIS) for Legacy. 140 2.5 350.00
5/5/2008 Financial Development Semler,Jas prepare schedules showing impact of development 225 2 450.00
5/72008 Regulatory Report Halloran,K Prepare TIS for Legacy project. 140 3.5 490.00
517/2008 Financial Development Matthes,Lo Reviewing, discussing, and revising impact 325 1.5 487.50
analysis
e
5R 12008 Financial Development Semler,Jas prepare schedules showing impact of development 225 1 225.00
518/2008 Financial Development Halloran,K Make changes and corrections to Legacy schedules 140 2.5 350.00
5/9/2008 Financial Development Matthes,Lo review revised impact schedules 325 0.5 162.50
5/9/2008 Correspondence Matthes,Lo Mayor 325 0.25 81.25
5/9/2008 Financial Development Semler,Jas prepare schedules showing impact of development 225 1.5 337.50
5/12/2008 Financial Development Matthes,Lo more revisions and footnotes to schedule 325 1 325.00
5/1212008 Financial Development Dickman,He TIS FS 160 3 480.00
5/12/2008 Correspondence Matthes,Lo compose email to WG to accompany schedule of 325 1 325.00
tax Impacts
5/13/2008 Legal Documents Matthes,Lo Declaratory Resolution 325 0.25 81.25
5/13/2008 Correspondence Matthes,Lo emails re: impacts 325 0.25 81.25
5/15/2008 Correspondence Matthes,Lo Mayor et al re: impacts and analysis 325 1 325.00
5/16/2008 Regulatory Report Halloran,K Prepare Legacy TIS. 140 4 560.00
5/16/2008 Financial Development Matthes,Lo instructions to Heidi re: revised impact analysis 325 0.5 162.50
per conversation w/ Steve Pitman; also growth
option per Mayor
5/16/2008 Teleconferences Matthes,Lo Steve Pitman 325 0.5 162.50
5/19/2008 Financial Development Matthes,Lo review revised impact analysis; changes and 325 1 325.00
corrections, discuss growth option assumptions, etc.
5/19/2008 Financial Development Dickman,He FS 160 2.75 440.00
5/20/2008 Regulatory Report Matthes,Lo Tax Impact analysis, etc. 325 3 975.00
5120/2008 Regulatory Report Eckede,Ma Helped HLD w/Tax Impact Statement question 160 0.75 120.00
5/20/2008 Financial Development Dickman,He FS 160 7 1120.00
5/21/2008 Expense Mileage Matthes,Lo 10 miles 5.05
5/21/2008 Regulatory Report Matthes,Lo review Economic Development Plan Wabash Sci. 325 0.5 162.50
5/21/2008 Financial Development Semler,Jas Review schedules for meeting 225 2 450.00
5/21/2008 Financial Development Dickman,He FS 160 1.75 280.00
5/21/2008 Financial Development Matthes,Lo pie charts, etc.; impact analysis, schedules for 325 3 975.00
CRC meeting
5/21/2008 Travel Matthes,Lo 325 0.5 162.50
5/21/2008 Meetings Matthes,Lo CRC meeting (delayed start) re: Legacy project, 325 1.5 487.50
Declaratory Res'n, etc.
5/21/2008 Teleconferences Matthes,Lo Steve Pitman, Carolyn Anker 325 0.25 81.25
5/22/2008 Regulatory Report Halloran,K TIS for TIF Legacy. 140 3.5 490.00
5/22/2008 Regulatory Report Matthes,Lo planning Tax Impact Stmt with Katie, 325 1 325.00
review /discuss change to show Impact of City
Debt of no TIF, etc.
5/22/2008 Teleconferences Matthes,Lo Steve Pittman re: CRC meeting, Plan Comm. 325 0.25 81.25
meeting, bond timing, steps, reimbursement
resolution, etc.
5/23/2008 Teleconferences Matthes,Lo Rich Starkey re: Timetable, idea for possible 325 0.5 162.50
shortening; Francesca from Indpls Star
5/26/2008 Regulatory Report Semler,Jas Review 225 1.5 337.50
5/27/2008 Regulatory Report Semler,Jas Review Impact Statement 225 1.25 281.25
5/27/2008 Regulatory Report Halloran,K Make changes and corrections to Legacy TIS. 140 2.5 350.00
6/2/2008 Regulatory Reports Halloran,K Prepare letters to send out TIS to overlapping 140 1.5 210.00
6/11/2008 Regulatory Report Semler,Jas review impact statement 225 0.25 56.25
6112/2008 Regulatory Report Semler,Jas review impact statement 225 1.5 337.50
6/13/2008 Regulatory Report Halloran,K Make changes and corrections to TIS. 140 1.5 210.00
6/16/2008 Regulatory Report Eckerie,Ma Proofed tax impact schedules 160 1.5 240.00
6/18/2008 Correspondence Matthes,Lo Paul Rioux Plan Comm. approval, timing, info 325 0.25 81.25
611912008 Regulatory Report Halloran,K Update TIS for Carmel TIF Legacy. 140 1 140.00
6/19/2008 Regulatory Report Matthes,Lo 325 0.25 81.25
6/23/2008 Disclosure Documents Matthes,Lo 325 0.25 81.25
6/24/2008 Regulatory Report Matthes,Lo 325 0.5 162.50
6/24/2008 Accounting Report Dickman,He PPM AR 160 3.25 520.00
6/25/2008 Disclosure Documents Matthes,Lo 325 0.5 162.50
6/25/2008 Accounting Report Semler,Jas Review AR, discuss with Loren and Heidi 225 4.5 1012.50
6/25/2008 Accounting Report Dickman,He PPM AR 160 4.75 760.00
6/25/2008 Accounting Report Matthes,Lo PPM AR 325 0.5 162.50
6/26/2008 Regulatory Report Matthes,Lo TIS reviewing and revising 325 3 975.00
6/26/2008 Accounting Report Matthes,Lo reviewing and revising esp. project descriptions, 325 3 975.00
risks, add LLC risks, etc.
6/26/2008 Accounting Report Dickman,He PPM AR 160 1 160.00
612612008 Financial Development Halloran,K Begin to prepare PPM 140 0.75 105.00
6/26/2008 Correspondence Matthes,Lo re: PPM, Accounting Report, Term Sheet, etc. 325 0.5 162.50
6/27/2008 Regulatory Report Matthes,Lo discuss w/ Jason and Heidi changes to TIS. esp. 325 0.75 243.75
re: debt comparison, cum. funds, etc.
6127 /2008 Accounting Report Matthes,Lo editing, discuss w/ Jason and Heidi changes to 325 1 325.00
6 /27 /2008 Accounting Report Semler,Jas revise bond schedules 225 2.5 562.50
6 /27 /2008 Accounting Report Dickman,He PPM AR discuss 160 4 640.00
612712008 Financial Development Matthes,Lo per Paul Rioux re: new options draw bonds, different 325 2 650.00
rates, etc. planning with Jason and Heidi;
review /discuss schedules; Rich Starkey additional
changes to structure and options additional
planning and discussions with Held[ and Jason
6/27 /2008 Teleconferences Matthes,Lo Paul Rioux re: new options draw bonds, different 325 1 325.00
rates, etc.; Rich Starkey re: VAR vs fixed rates,
discuss additional changes to structure and options
6/30/2008 Regulatory Report Halloran,K Make changes and corrections to TIS. Use new 140 2.5 350.00
6/30/2008 Accounting Report Semler,Jas revise bond schedules 225 415 956.25
6/3012008 Financial Development Matthes,Lo review and discuss different options; change to 325 0.5 162.50
show all TIF used to pay interest and principal
6130/2008 Accounting Report Dickman,He PPM AR Proof 160 0.75 120.00
7/1/2008 Regulatory Report Matthes,Lo review revised TIS for 2008 rates 325 0.5 162.50
7/112008 Accounting Report Semler,Jas Revise scheduels 225 2.25 506.25
7/1/2008 Financial Development Matthes,Lo 325 1 325.00
7/1/2008 Regulatory Report Halloran,K make changes and corrections to TIS. 140 1 140.00
7/1/2008 Correspondence Matthes,Lo re: explain options 325 1 325.00
7/2/2008 Correspondence Matthes,Lo Paul Rioux 325 0.25 81.25
713/2008 Accounting Report Semler,Jas review schedules 225 0.5 112.50
7/3/2008 Financial Development Matthes,Lo additional options 325 0.5 162.50
7/3/2008 Financial Development Dickman,He FS 160 3.25 520.00
7/7/2008 Expense- Mileage Mafthes,Lo 10 miles 5.85
7/7/2008 Accounting Report Semler,Jas revise schedules 225 2 450.00
7/7/2008 Regulatory Report Matthes,Lo review revised options and email to Platinum at al, 325 3 975.00
revised tax impact analysis for Council Meeting
717/2008 Financial Development Dickman,He FS update 160 2.5 400.00
71712008 Travel Matthes,Lo 325 0.5 162.50
7!112008 Meetings Matthes,Lo City Council meeting 325 2.5 812.50
7/9/2008 Legal Documents Matthes,Lo Doug Haney opinion on Council changes of ED Plan 325 0.25 81.25
7/9/2008 Correspondence Dickman,He Disc w JGS, call to Paul Rioux 160 0.25 40.00
7/1012008 Expense- Mileage Matthes,Lo 10 miles 5.85
7/10/2008 Travel Matthes,Lo 325 0.5 162.50
7/10/2008 Meetings Matthes,Lo 325 1.5 487.50
7/21/2008 Expense- Mileage Matthes,Lo 10 miles 5.85
7/21/2008 Financial Development Dickman,He FS update 160 0.25 40.00
7/21/2008 Financial Development Matthes,Lo 325 1 325.00
7/21/2008 Teleconferences Matthes,Lo Paul Rioux re: financing and costs Increase River 325 0.75 243.75
Road; Steve Pittman; Tom Pitman
7/21/2008 Travel Matthes,Lo 325 0.5 162.50
7/21/2008 Meetings Matthes,Lo Council Meeting and meeting afterward wl Platinum 325 2 650.00
7121/2008 Teleconferences Semier,Jas 225 0.5 112.50
7/21/2008 Correspondence Dickman,He Disc w LMM, JGS 160 0.75 120.00
7/31/2008 Regulatory Report Dickman,He TIS 160 0.5 80.00
7/31/2008 Engagement planning Matthes,Lo discuss timing /next steps w/ Heidi 325 0.25 81.25
8/112008 Financial Development Baumer,Kat Proofing of FS Draw Option 20 year 9% document 100 0.5 50.00
8/1/2008 Financial Development Dickman,He FS 160 1.75 280.00
8/5/2008 Legal Documents Matthes,Lo Public Hearing Notice; call Tom Pitman 325 0.25 81.25
8/5/2008 Regulatory Report Matthes,Lo Begin to revise Impact Statement for latest changes 325 0.5 162.50
8/5/2008 Financial Development Semler,Jas Discuss schedules with Loren and Heidi 225 1 225.00
8/512008 Financial Development Matthes,Lo review /discuss latest schedules and option: 9% 325 1 325.00
draw, 20 years to repay, etc.
8/5/2008 Financial Development Dickman,He 160 2.5 400.00
8/6/2008 Regulatory Report Matthes,Lo revise TIS 325 3 975.00
81612008 Correspondence Matthes,Lo from and to Ron Carter re: concern over funding 325 0.25 81.25
8/7/2008 Regulatory Report Matthes,Lo edits from WG on TiS 325 0.5 162.50
8!7/2008 Teleconferences Matthes,Lo calls and emails related to TIS distribution Ron 325 1 325.00
Carter, Rich Starkey, Tom Pitman, etc.
8/812008 Regulatory Report Matthes,Lo TIS 325 0.25 81.25
818/2008 Regulatory Report Dickman,He Disc w LMM, Tax Impact Statement 160 1.5 240.00
8/812008 Teleconferences Mafthes,Lo calls w/ Steve Pitman 325 0.5 162.50
8/1112008 Regulatory Report Dickman,He ED plan 160 0.25 40.00
8/11/2008 Financial Development Matthes,Lo researching for examples of ED Plans 325 1 325.00
non specific on the improvements
8/11/2008 Travel Matthes,Lo 325 0.5 162.50
8/1112008 Meetings Matthes,Lo meeting w/ Pittman, Rioux, Haas, and Pitman 325 1.75 568.75
8/15/2008 Teleconferences Matthes,Lo call /email re: Oppenheimer request for TIF Info; 325 0.25 81.25
and update on various pending issues from Paul
8/18/2008 Correspondence Matthes,Lo scan schedules and email to Bryan Nelson at 325 0.5 162.50
Oppenheimer
8/26/2008 Expense teleconference charges 7.37
8/26/2008 Teleconferences Matthes,Lo Pittman 325 0.25 81.25
8/29/2008 Correspondence Matthes,Lo to WG re: status, timing and distribution of TIS 325 0.25 81.25
9/3/2008 Regulatory Report Matthes,Lo discuss revised TIS; send paragraph w/ blanks to 325 0.25 81.25
be filled -in by Steve and Paul
9/3/2008 Teleconferences Matthes,Lo Rich Starkey 325 0.25 81.25
9/4/2008 Expense UPS charges 113.76
9/4/2008 Regulatory Report Mack,Tonya Tax Impact Stmt, copy, mail 85 0.75 63.75
9/4/2008 Regulatory Report Dickman,He TIS prep /send out 160 0.75 120.00
9/4/2008 Regulatory Report Matthes,Lo revise and review final report; email Tom for 325 1.5 487.50
Notice; review letters to overlapping taxing units,
distribution instructions, etc
9/10/2008 Legal Documents Matthes,Lo 325 0.25 81.25
9/17/2008 Expense- Mileage Matthes,Lo 10 miles 5.85
9/17/2008 Financial Development Matthes,Lo prepare for public hearing on Legacy 325 1 325.00
9/172008 Travel Matthes,Lo 325 0.5 162.50
9/172008 Meetings Matthes,Lo CRC meeting and hearing (delayed) 325 3 975.00
10/142008 Financial Development Matthes,Lo prep Jason for CRC meeting 325 0.5 162.50
1 011 42 0 0 8 Meetings Semler,Jas prepare for RDC meeting, discuss with Loren 225 1.5 337.50
10/152008 Meetings Semler,Jas attend RDC meeting 225 2.5 562.50
10/15/2008 Financial Development Dickman,He Presentation prep 160 0.5 80.00
TOTALS 230.25 $52,091.41
Prescribed by State Board of Accounts City Form No. 201 (Rev. 1995)
ACCOUNTS PAYABLE VOUCHER
CITY OF CARMEL
An invoice or bill to be properly itemized must show: kind of service, where performed, dates service rendered, by
whom, rates per day, number of hours, rate per hour, number of units, price per unit, etc.
1 U Payee
q4 A SS OC
cl� Purchase Order No.
Terms
Date Due
Invoice Invoice Description Amount
Date Number (or note attached invoice(s) or bill(s))
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I hereby certify that the attached invoice(s), or bill(s), is (are) true and correct and I have audited same ieac�ordance
with IC 5- 11- 10 -1.6.
20
Clerk- Treasurer Zi
If
VOUCHER NO. WARRANT NO.
ALLOWED 20
Urm 6J+ IN SUM OF
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ON ACCOUNT OF APPROPRIATION FOR
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Board Members
PO# or INVOICE NO. ACCT #/TITLE AMOUNT
DEPT. I hereby certify that the attached invoice(s), or
oZ 07 l �0 Ig 1'30, 00 bill(s) is (are) true and correct and that the
'?0 Z l O R kk 6 68 V 2 Lao, u0 materials or services itemized thereon for
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received except
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Cost distribution ledger classification if T tl
claim paid motor vehicle highway fund
I H.1 Umbaugl? Assoc res
aI
336 Ke {`io 5 rg S;)ite 300
P.O. Box 40458
Indianar)^:s, IN 46240 -0458
Phone: 317 -405 500
'I Faz:317- 465-1550
It's all AhOUt esperiencC.
October 20, 2008
Ms. Diana Cordray, Clerk- Treasurer
City of Carmel
City Hall, One Civic Square
Carmel, IN 46032
Re: Quarterly Summary Statements for Carmel Redevelopment
Authority COIT Lease Rental Bonds of 2006
Dear Diana:
Attached please find our Cash Advisory Services quarterly summary statements for the period
July 1, 2008 to September 30, 2008. The statements are a summary of activity and investments
in the Regions Bank trust accounts, which include interest earned and expenditures for the
quarter. They also include a summary of investments held in the accounts as of September 30,
2008.
In preparing our summary, we have relied on the accuracy and reliability of information
provided by the trustee for the Bonds, Regions Bank. We have not audited, examined or
reviewed the information and express no assurance on it. The attached summary statements are
intended solely for the information and use of management, and are not intended to be and
should not be used by anyone other than management.
We have also attached our quarterly fee bill_ for these accounts. We appreciate the opportunity to
serve you and thank the individuals in your organization for their cooperation. If you have any
questions, please do not hesitate to call me at 317 465 -1531.
Very truly yours,
UMBAUGH
Jeffrey A. Messer
JAM /mdm
Enclosures
Umbaugh
8365 Keystone Crossing, Suite 300
P.O. Box 40458
Indianapolis, IN 46240 -0458
(317) 465 -1500
City of Carmel
c% Ms. Diana Cordray, Clerk Treasurer
City Hall
One Civic Square
Carmel, IN 46032
Invoice No. 115908
Date 1011612008
Client No. C00600
For professional services for Cash Advisory Services rendered in accordance
with the Engagement Letter dated August 28, 2006.
2006 COIT Bonds Bond Interest Account 640.37
2006 COIT Bonds Construction Account 9,464.31
Current Amount Due 10 104.68
See attached for detail of fees.
Carmel Redevelopment Authority COIT Bonds of 2006
Cash Advisory Services
Quarterly Fee Calculation
Detail of 3rd Quarter 2008
2006 COIT Bonds Bond Interest Account
Average Interest
Date Principal Balance Earninjzs Fee
7/31/2008 3,074,312 778 256.19
8/31 /2008 2,303,948 3,634 192.00
9/30/2008 2,306,154 3,117 192.18
Total Fee: 640.37
2006 COIT Bonds Construction Account
Average Interest
Date Principal Balance Earnings Fee
7/31/2008 40,167,369 195,424 3,347.28
8/31/2008 37,792,566 210,709 3,149.38
9/30/2008 35,61 1,824 181,251 2,967.65
Total Fee: 9,464.31
Total Fee for Period Ending September 30, 2008: 10,104.68
City of Carmel Redevelopment Authority COIT
Lease Rental Revenue Bonds of 2006
Activity and Fund Balance Summa Unaudited
Account Name: Construction Account
Trust Account: Regions Bank #2080012523
For Period Ending: September 30 2008
Activity
Date Interest Income Disbursements Other Withdrawals Other Receipts Balance
06/30108 41,514,038.60
07/31/08 195,423.57 2,522,440.66 39,187,021.51
08/31/08 210,708.97 2,593,486.52 36,804,243.96
09/30/08 181,250.80 2,174,130.04 34,811,364.72
i
Totals 587,383.34 1 7,290,057.22 34,811,364.72
1. Interest income is reported on a cash basis and as such does not include accrued income on investments.
Also, accrued interest paid on securities (if applicable) is netted out of first interest payment.
Security Face Value Cost Basis Maturity Date Yield /Rate
First Merchants Bank CD 4,000,000.00 4,000,000.00 10/1012008 3.19%
First Merchants Bank CD 3,000,000.00 3,000,000.00 11/10/2008 3.21%
First Merchants Bank CD 3,000,000.00 3,000,000.00 12110/2008 3.23%
First Merchants Bank CD 3,000,000.00 3,000,000.00 1/8/2009 3.24%
First Merchants Bank CD 2,000,000.00 2,000,000.00 2/9/2009 3.26%
First Merchants Bank CD 2,000,000.00 2,000,000.00 3/9/2009 3.27%
Irwin Union Bank CD 5,000,000.00 5,000,000.00 4/8/2009 3.61%
Irwin Union Bank CD 5,000,000.00 5,000,000.00 5/7/2009 3.62%
Huntington Bank CD 6,000,000.00 6,000,000.00 6/8/2009 3.70%
Trust Money Market Deposit Account 1,811,364.72 1,811,364.72 n/a 1.80%
Total 34,811,364.72 1 34,811,364.72 3.33%
Note This statement is provided for your information only, and is a highlight of the official trust statement.
All information in this report was taken from Regions Bank statements.
City of Carmel Redevelopment Authority COIT
Lease Rental Revenue Bonds of 2006
Activity and Fund Balance Summa Unaudited
Account Name: Bond Interest Account
Trust Account: Regions Bank #2080012532
For Period Ending: September 30 2008
Activity
Date Interest Income' Disbursements Other Withdrawals Other Receipts Balance
06/30/08 4,043,121.03
07/31108 778.14 1,739,562.50 2,304,336.67
08/31/08 3,634.19 2,307,970.86
09/30/08 3,116.98 2,311,087.84
Totals 7,529.31 1 1,739,562.50 2,311,087.84
1. Interest Income is reported on a cash basis and as such does not include accrued income on investments.
Also, accrued interest paid on securities (if applicable) is netted out of first interest payment.
Security Face Value Cost Basis Maturity Date Yield
FHLMC Discount Note 1,719,000.00 1,699,133.61 12/22/2008 2.73%
Trust Money Market Deposit Account 611,954.23 611,954.23 n/a 1.80%
Total 2,330,954.23 2,311,087.84 2.48%
Note This statement is provided for your information only, and is a highlight of the official trust statement.
All information in this report was taken from Regions Bank statements.
Prescribed by State Board of Accounts City Form No. 201 (Rev. 1995)
ACCOUNTS PAYABLE VOUCHER
CITY OF CARMEL
An invoice or bill to be properly itemized must show: kind of service, where performed, dates service rendered, by
whom, rates per day, number of hours, rate per hour, number of units, price per unit, etc.
I I Payee I
V beL !4 S oc_4 cJ<� Purchase Order No.
Terms
Date Due
Invoice. Invoice Description Amount
Date Number (or note attached invoice(s) or bill(s))
I N5909 v1,5jf v)lx_� 10
.mod
Total)(`
F�
I hereby certify that the attached invoice(s), or bill(s), is (are) true and correct and I have audited same inaccordance
with IC 5- 11- 10 -1.6.
20
Clerk- Treasurer r
VPUCHER NO._ WARRANT NO.
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ON ACCOUNT OF APPROPRIATION FOR
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Board Members
PO# or INVOICE NO. ACCT #/TITLE AMOUNT
DEPT. I hereby certify that the attached invoice(s), or
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11 q /u 10LI. �,�bill(s) is (are) true and correct and that the
materials or services itemized thereon for
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received except
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Cost distribution ledger classification if
Title
claim paid motor vehicle highway fund