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162085 07/23/2008 \f CITY OF CARMEL, INDIANA VENDOR: 00351669 Page 1 of 1 ONE CIVIC SQUARE UMBAUGH ASSOCIATES CARMEL, INDIANA 46032 PO BOX 40458 CHECK AMOUNT: $160,671.00 INDIANAPOLIS IN 46240 -0458 CHECK NUMBER: 162085 CHECK DATE: 7/23/2008 DEP ARTMENT ACCOUN PO NUMBER INVOICE N UMBER AMOU D ESCRIPTIO N 902 4340400 071508JMM 160,671.00 CONSULTING FEES �t I I C S�er�y �u S U�;cJinc 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) Administrative and Monitoring Assistance and 2008 TIF Bond Issuance Invoice No. 071508jmm Date 711512008 Client No. C00600 For financial services rendered from July 1, 2007 through July 15, 2008 for the following: TIF Administration and Monitoring for various TIF Areas including base neutralizations following Trending and TIF database monitoring with County Auditor 25,668.00 Financial Services related to planning and issuance of the Renewal BANS in 2007 and the TIF Revenue (Take -out) Bonds of 2008 including revised TIF projections 118,496.00 including review of cash flow projections for CRC and establishment of W. Clay EDA in support of 2008 TIF Bonds and PAC Bonds 14.154.00 Amount payable from 2008 TIF Bond Proceeds X158 318.00 Financial Services related to Merchants Pointe TIF 235 3.00 See attached for detail of fees. Total Amount Due 160,671.00 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 City of Carmel City Hall One Civic Square Carmel, IN 46032 Re: TIF Administrative and Monitoring Services Invoice No. 071508JMM Date 71508 Client No. C00600 DATE SERVICE /STAFF HOURS RATE AMOUNT 7/3/2007 Correspondence Send debt information to Sherry Semler 0.75 $200 $150.00 7/5/2007 Correspondence emails w/ Phyllis and Diana re: W.Clay TIF Area Matthes 0.50 300 150.00 7/26/2007 Other (Describe) Discuss Thompson Bonds with Randy Semler 0.25 200 50.00 7/26/2007 Correspondence Prepare schedule and appendix for letter to Les regarding 2007 TIF settlement Semler 3.00 200 600.00 7/26/2007 Financial Development Prep Put together a variance schedule for Jason regarding distributed TIF amounts for the City of Carmel Nifong 1.00 130 130.00 7/30/2007 Financial Development Prep TIR calculation Semler 1.00 200 200.00 7/30/2007 Teleconferences Mike Hollibaugh re: taxpayer in a TIF Area denied PPID; explanation Matthes 0.50 300 150.00 7/30/2007 Teleconferences call from BONY re: Carmel Pedcor Bonds interest payments Matthes 0.50 300 150.00 7/30/2007 Umbaugh Reports Prep 2008 TIR letter Mickens 0.25 80 20.00 8/1/2007 Correspondence TIR letter Mickens 0.25 80 20.00 8/1/2007 Financial Development Review TIR Forms and instruction letter to CRC Matthes 0.25 300 75.00 8/8/2007 Teleconferences Discuss Lauth- Walker TIF with Sherry Semler 0.50 200 100.00 8/8/2007 Financial Development Prep discuss overpayment of Lauth Walker TIF w/ Jason and plan for adjusting settlement w/ Lee Graham Matthes 0.25 300 75.00 8/9/2007 Teleconferences Discuss Lauth Walker TIF with Sherry and Lee Semler 0.50 200 100.00 8/22/2007 Financial Development Prep Assist Heidi with updating Debt schedule for Sherry Semler 1.00 200 200.00 8/23/2007 Financial Development Prep Assist Heidi with updating Debt schedule for Sherry Semler 0.50 200 100.00 9/13/2007 Other (Describe) discussions and assistance to Trustee BONY re: incorrect payment of PEDCOR TIF Bonds from incorrect TIF Accounts by City; correct TIF Accounts, payments owed by PEDCOR, process, etc. Matthes 1.75 300 525.00 9/13/2007 Teleconferences Discuss spring settlement and August payment with trustee Semler 0.75 200 150.00 9/18/2007 Teleconferences confusion /assist Trustee, Clerk- Treasurer re: TIF and Taxpayer Payments related to 3 Pedcor EDC Bonds Matthes 0.75 300 225.00 9/18/2007 Teleconferences Discuss debt service payements with Sherry, Cindy, Loren, Bruce, and Perett Semler 1.25 200 250.00 10/11/2007 Teleconferences Sherry Mielke Matthes 0.25 300 75.00 10/17/2007 Teleconferences Discuss with Lee Semler 0.50 200 100.00 10/30/2007 Financial Development Prep Prepare neutralization schedules Semler 3.00 200 600.00 11/5/2007 Financial Development Prep Discuss neutralizations with Lee and Brian, review TIF estimates and growth Semler 2.25 200 450.00 11/12/2007 Financial Development Prep Discussed w /JGS Eckerle 1.00 150 150.00 11/12/2007 Regulatory Report Prep Prepare base neutralization worksheets Semler 1.00 200 200.00 11/13/2007 Financial Development Prep Reviewed TIF Info Eckerle 3.00 150 450.00 11/13/2007 Financial Development Prep Compare current databases for TIF Areas with previous databases, and make a schedule highlighting the discrepencies. Halloran 4.50 130 585.00 11/13/2007 Financial Development Prep Discussed w /JGS and LMM Eckerle 0.75 150 112.50 11/13/2007 Regulatory Report Prep Prepare base neutralization worksheets Semler 0.50 200 100.00 11/14/2007 Regulatory Report Prep Prepare base neutralization worksheets Semler 1.25 200 250.00 11/15/2007 Financial Development Prep Eckerle 0.25 150 37.50 11/16/2007 Financial Development Prep Eckerle 0.50 150 75.00 11/16/2007 Financial Development Review Proofed schedules for JGS Eckerle 2.00 150 300.00 11/16/2007 Financial Development Prep Database for Jason Fetters 0.75 130 97.50 11/16/2007 Regulatory Report Prep Prepare Neutralization worksheets Semler 4.50 200 900.00 11/19/2007 Regulatory Report Prep Prepare Neutralization worksheets Semler 1.25 200 250.00 11/20/2007 Umbaugh Reports Prep deduction database Fetters 2.00 130 260.00 11/20/2007 Financial Development Prep Prepare Neutralization worksheets Semler 4.75 200 950.00 11/21/2007 Regulatory Report Prep Prepare Neutralization worksheets Semler 6.25 200 1,250.00 11/25/2007 Regulatory Report Prep Prepare Neutralization worksheets Semler 2.25 200 450.00 11/26/2007 Financial Development Prep Prepare Base Neutralization schedules Semler 5.00 200 1,000.00 11/26/2007 Financial Development Prep Parcel research Dickman 2.00 150 300.00 11/26/2007 Financial Development Prep database for jason Fetters 1.00 130 130.00 11/27/2007 Financial Development Prep Parcel research Dickman 1.75 150 262.50 11/28/2007 Financial Development Prep Compare 2007 and 2008 TIF Databases. Create spreadsheet highlighting large changes in AV. Halloran 5.50 130 715.00 11/29/2007 Financial Development Prep Make changes to spreadsheet showing large differences between 2007 and 2008 TIF Area AVs. Halloran 2.00 130 260.00 11/29/2007 Financial Development Prep Prepare Base Neutralization schedules Semler 1.50 200 300.00 11/30/2007 Financial Development Prep Prepare Base Neutralization schedules Semler 0.75 200 150.00 11/30/2007 Financial Development Prep BN parcel growth research Dickman 0.25 150 37.50 12/3/2007 Financial Development Prep Look up parcels on Hamilton County GIS System Halloran 1.00 130 130.00 12/3/2007 Financial Development Prep Prepare TIF neutralizations Semler 1.25 200 250.00 12/4/2007 Financial Development Prep Looked up parcels on Hamilton County GIS. Halloran 2.00 130 260.00 12/5/2007 Financial Development Prep Prepare TIF neutralizations Semler 0.75 200 150.00 12/7/2007 Financial Development Prep Neutralization schedules Semler 2.75 200 550.00 12/10/2007 Financial Development Prep Neutralization schedules Semler 3.75 200 750.00 12/10/2007 Financial Development Prep BN Dickman 3.00 150 450.00 12/18/2007 Teleconferences Discuss neutralizations with Lee and John Mallers, send John new forms Semler 2.25 200 450.00 1/10/2008 Correspondence emails from and to Brad re: Area boundaries, original EDA and Allocation Area, maps, parcel #'s, County TIF database discrepancies, etc. Matthes 0.50 325 162.50 1/10/2008 Teleconferences Brad and Chris, Ice Miller re: Amending Area boundaries for commercial area; also discuss original EDA and Allocation Area, look at maps, parcel #'s, etc. Matthes 0.75 325 243.75 1/10/2008 Teleconferences Semler 1.50 225 337.50 1/10/2008 Financial Development Prep reviewing and discussing maps, parcel list, TIF database, discrepancies, amending Area boundaries, etc. Matthes 0.50 325 162.50 1/14/2008 Correspondence Return Sherry's email Semler 0.50 225 112.50 1/14/2008 Financial Development Prep Prepare schedule showing the difference between estimated and actual 2007 TIF Settlements in the Carmel TIF Areas. Halloran 2.00 140 280.00 1/15/2008 Financial Development Prep Review Fall settlement Semler 0.75 225 168.75 1/15/2008 Correspondence Prepare debt for Sherry Semler 2.50 225 562.50 1/15/2008 Financial Development Prep update debt info Dickman 2.00 160 320.00 1/16/2008 Financial Development Prep compared certified AV and databases with neutralization schedules, meet with Lee, go to assessor's office Semler 3.75 225 843.75 1/21/2008 Financial Development Prep Checking incremental AV for RDC Fetters 2.75 140 385.00 1/29/2008 Financial Development Prep Carmel TIF Research and data update. Weiland 2.00 100 200.00 2/13/2008 Teleconferences Discuss TIF estimates with Stephanie (Curt's office) Semler 0.50 225 112.50 2/13/2008 Financial Development Prep Prepare schedule showing estimated TIF Collections for 2008 Halloran 2.00 140 280.00 2/19/2008 Financial Development Prep sort carmel databases. Halloran 1.00 140 140.00 2/22/2008 Financial Development Prep make changes and corrections to 2008 Settlement worksheet. Halloran 1.00 140 140.00 3/7/2008 Financial Development Prep Carmel TIF Address Research and mapping. Weiland 8.00 100 800.00 3/9/2008 Financial Development Prep Carmel TIF and parcel mapping. Weiland 4.00 100 400.00 3/12/2008 Financial Development Prep TIF Growth research /mapping Dickman 1.25 160 200.00 4/16/2008 Teleconferences Sherry re: 1782 Notice and TIR Matthes 0.25 325 81.25 4/22/2008 Financial Development Prep Discuss appeals with Lee Semler 0.50 225 112.50 4/24/2008 Financial Development Prep Tax Rate Recalc research Dickman 0.75 160 120.00 4/25/2008 Teleconferences calls w/ Sherry and Bruce re: Annual TIF Notification clarify with Auditor's office not contractual oblications, "debt service and other purposes" Matthes 0.50 325 162.50 4/28/2008 Correspondence email Mike Howard re: Annual TIF Notification clarify with Auditor's office not contractual oblications, just debt service and other purposes Matthes 0.25 325 81.25 5/14/2008 Correspondence drafting Notification Letter re: no excess TIF per new HEA 1001 Sec 738 (IC 36- 7- 14 -39); email to Bruce Matthes 1.00 325 325.00 5/21/2008 Meetings CRC meeting present draft Notification Letter re: no excess TIF Matthes 0.25 325 81.25 5/21/2008 Legal Documents revise draft Notification Letter re: no excess TIF for CRC Matthes 0.25 325 81.25 5/22/2008 Other (Describe) Prepare list of addresses for taxing units of Carmel. Halloran 0.50 140 70.00 6/10/2008 Other (Describe) info request from Ron Carter re: investment info for dev'ts along the Monon; getting info from Heidi Matthes 1.00 325 325.00 6/11/2008 Other (Describe) email Ron Carter re: investments along the Monon AV's in City Center and Old Town, missing AV's, investment info needed, etc. Matthes 1.00 325 325.00 6/16/2008 Correspondence final changes to Notification Letter (regarding no excess TIF) and distribution list; email to Andrea and Sherry for CRC, instructions Matthes 1.00 325 325.00 6/27/2008 Financial Development Prep Prepare 2008 Recalculated Tax Rates (using 2008 Abstract) Halloran 1.50 140 210.00 6/27/2008 Financial Development Prep Reviewed Rate Recalc for Carmel City Fetters 1.30 140 182.00 6/30/2008 Financial Development Prep Rate recalc review Fetters 0.50 140 70.00 Total For Services 25,610.75 Total For Expenses 57.62 Current Amount Due $25,668.37 Umbaugh 8365 Keystone Crossing, Suite 300 P.O. Box 40458 Indianapolis, IN 46240 -0458 (317) 465 -1500 Carmel Redevelopment Commission City of Carmel City Hall One Civic Square Carmel, IN 46032 Invoice No. 071508JMM Date 71508 Client No. C00600 DATE SERVICE /STAFF HOURS RATE AMOUNT 7/2/2007 Teleconferences Bruce D. and Kim Matthes 0.25 $300 $75.00 7/2/2007 Bond Sale BAN Renewal Matthes 0.50 300 150.00 7/2/2007 Umbaugh Reports Prep Accounting Report (AR) Dickman 1.75 150 262.50 7/3/2007 Bond Sale BAN Renewal discuss int. rate cap in bond resolution need to verify LIBOR 55 and cap w/ Chase Matthes 0.25 300 75.00 7/3/2007 Umbaugh Reports Prep AR BAN Renewal Dickman 2.25 150 337.50 7/3/2007 Umbaugh Reports Review Review accounting report Semler 0.75 200 150.00 7/5/2007 Bond Sale BAN Renewal Working on ASL. Cruz 0.50 200 100.00 7/5/2007 Umbaugh Reports Prep Type changer per HLD Reuter 0.50 100 50.00 7/5/2007 Umbaugh Reports Prep AR Dickman 0.50 150 75.00 7/5/2007 Umbaugh Reports Review Review accounting report Semler 1.00 200 200.00 7/5/2007 Disclosure Documents Prep Working on Final Offering Memorandum. Cruz 0.50 200 100.00 7/6/2007 Correspondence Matthes 0.50 300 150.00 7/6/2007 Correspondence Finalize ASL, proof. Prescribed by State Board of Accounts ACCOUNTS PAYABLE VOUCHER City Form No. 201 (Rev. 1995) 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. Payee t h� 1 Purchase Order No. Terms Date Due Invoice Invoice Description Amount Date Number (or note attached invoice(s) or bill(s)) q Total d I hereby certify that the attached invoice(s), or bill(s), is (are) true and correct and I have audited same in with IC 5- 11- 10 -1.6. 20 Clerk -Treas VOUCHER NO. WARRANT NO. ALLOWED 20 IN SUM OF TD� I r� c� 1uj ON ACCOUNT OF APPROPRIATION FOR ao� Bads P� A-3s-�, Ob �0a� Board Members PO# or INVOICE NO. ACCT #/TITLE AMOUNT DEPT. I hereby certify that the attached invoice(s), or ulk6 N YcK a lt ill(s) is (are) true and correct and that the materials or services itemized thereon for which charge is made were ordered and Alli received except as aouepaoo Cost distribution ledger classification if claim paid motor vehicle highway fund s Cruz 1.00 200 200.00 7/6/2007 BAN Renewal BAN Closing Matthes 0.50 300 150.00 7/6/2007 Disclosure Documents Prep Put together wiring information Owen 1.25 120 150.00 7/6/2007 Disclosure Documents Prep Finalize the OM draft, proof. Cruz 2.00 200 400.00 7/6/2007 Disclosure Documents Review Matthes 1.00 300 300.00 7/9/2007 BAN Renewal BAN Closing Matthes 2.25 300 675.00 7/9/2007 Disclosure Documents Prep OM Black 0.50 80 40.00 7/9/2007 Disclosure Documents Review Matthes 1.50 300 450.00 7/10/2007 BAN Renewal BAN Closing Phone calls /emails relating to interest payments on the 2003 A, 2004 A and 2005 Notes. Making sure they are getting paid on time, in the correct amount and providing wire transfer instructions. Cruz 1.25 200 250.00 7/10/2007 BAN Renewal BAN Closing Matthes 2.00 300 600.00 7/10/2007 Financial Development Prep SPR Dickman 0.50 150 75.00 7/10/2007 Umbaugh Reports Prep AR Black 0.50 80 40.00 7/10/2007 Umbaugh Reports Review Matthes 1.00 300 300.00 7/10/2007 Umbaugh Reports Review Review accounting report Semler 0.50 200 100.00 7/10/2007 Disclosure Documents Prep OM Black 0.25 80 20.00 7/10/2007 BAN Renewal BAN Closing Phone call e -mails with dtc, etc. Owen 0.50 120 60.00 7/10/2007 Disclosure Documents Review Matthes 1.00 300 300.00 7/10/2007 Disclosure Documents Review Finalize OM Intro and AR and ASL, PDF, send to working group for review. Starting to pull together appendicies for the OM. Cruz 1.25 200 250.00 7/11/2007 BAN Renewal BAN Closing Finalize ASL. Cruz 0.75 200 150.00 7/11/2007 BAN Renewal BAN Closing Matthes 2.00 300 600.00 7/11/2007 Disclosure Documents Review Finalize OM, pull all sections of the OM together for printing. Cruz 2.00 200 400.00 7/11/2007 Legal Documents appendices for o/s Black 0.75 80 60.00 7/12/2007 Disclosure Documents Offering Memorandum In -House Assemb Bishop 0.75 80 60.00 7/12/2007 Disclosure Documents In House OM Print Lindblom 3.25 80 260.00 7/12/2007 BAN Renewal BAN Closing ASL OM Mailing Lindblom 0.75 80 60.00 7/12/2007 Document Management Delivery of OS and After Sale Letter to working group and teleconf re changes Bawcum 2.25 200 450.00 7/12/2007 BAN Renewal BAN Closing discussions w/ Cindy Sheeks, George B. and Kathy C., Faith Berning- BONY; emails to Chase and W.G., etc. Matthes 2.25 300 675.00 7/12/2007 BAN Renewal BAN Closing Working through issues with getting interest paid on three Notes being renewed on 7/13. Cruz 0.50 200 100.00 7/12/2007 Disclosure Documents Prep pdf of OM Black 1.00 80 80.00 7/13/2007 BAN Renewal BAN Closing Matthes 1.00 300 300.00 7/16/2007 Umbaugh Reports Review Frederick 1.00 300 300.00 7/18/2007 BAN Renewal BAN Closing Follow up to make sure all BANs were repaid. Cruz 0.25 200 50.00 7131/2007 BAN Renewal BAN Closing filing BAN renewal closing info, etc. Matthes 0.50 300 150.00 8/29/2007 Teleconferences Todd Krz.- JP Morgan Matthes 0.25 300 75.00 10/17/2007 Disclosure Documents Prep Instructions re: TIF -COIT Bonds POS Matthes 1.00 300 300.00 10/23/2007 Financial Development Prep discuss bond structure and TIF with Jason Matthes 0.50 300 150.00 10/23/2007 Disclosure Documents Prep Start gathering info and drafting POS Intro McKinney 2.50 120 300.00 10/24/2007 Disclosure Documents Prep POS drafting of Ban payoff OS and LR bonds McKinney 5.25 120 630.00 10/24/2007 Disclosure Documents Prep Bryant 1.25 120 150.00 10/25/2007 Disclosure Documents Prep Bryant 5.50 120 660.00 10/25/2007 Disclosure Documents Prep Black 0.75 80 60.00 10/25/2007 Disclosure Documents Prep Matthes 0.25 300 75.00 10/25/2007 Disclosure Documents Prep Matthes 0.25 300 75.00 10/25/2007 Disclosure Documents Prep POS McKinney 0.50 120 60.00 10/29/2007 Disclosure Documents Prep GI Mickens 0.50 80 40.00 10/29/2007 Disclosure Documents Prep General Info Owen 2.50 120 300.00 10/30/2007 Disclosure Documents Prep gi Black 0.50 80 40.00 10/31/2007 Disclosure Documents Prep Bryant 2.75 120 330.00 11/1/2007 Disclosure Documents Prep Bryant 6.25 120 750.00 11/1/2007 Disclosure Documents Prep discuss debt with Judi Matthes 0.50 300 150.00 11/5/2007 Disclosure Documents Prep Bryant 4.25 120 510.00 11/5/2007 Disclosure Documents Prep GI Mickens 0.50 80 40.00 11/6/2007 Disclosure Documents Prep Bryant 3.25 120 390.00 11/6/2007 Disclosure Documents Prep GI Mickens 0.50 80 40.00 11/7/2007 Disclosure Documents Prep Bryant 3.00 120 360.00 11/8/2007 Disclosure Documents Prep GI Black 0.50 80 40.00 11/8/2007 Disclosure Documents Prep Bryant 1.00 120 120.00 11/12/2007 Disclosure Documents Prep Bryant 1.00 120 120.00 11/12/2007 Umbaugh Reports Prep Update growth estimates, prepare bond options Semler 1.25 200 250.00 11/13/2007 Correspondence emails from and to Leo re: Carmel Bonds, TIF, etc. Matthes 0.50 300 150.00 11/13/2007 Teleconferences discuss w/ Mayor, Bruce Donaldson potential larger TIF Bond, etc.; call Leo Dierckman in reponse to emails about TIF Bond placement; Todd K Matthes 1.00 300 300.00 11/13/2007 Financial Development Prep discuss TIF projection with Matt and Jason and potential larger TIF Bond issue Matthes 1.25 300 375.00 11/13/2007 Financial Development Prep Update growth estimates, prepare bond options Semler 0.50 200 100.00 11/13/2007 Disclosure Documents Prep gi Black 0.50 80 40.00 11/13/2007 Disclosure Documents Prep Bryant 1.00 120 120.00 11/14/2007 Disclosure Documents Prep Bryant 0.50 120 60.00 11/14/2007 Meetings Discussed w /JGS and LMM Eckerle 2.00 150 300.00 11/14/2007 Financial Development Prep TIF Update for new bonds Eckerle 6.00 150 900.00 11/14/2007 Financial Development Prep Matthes 3.50 300 1,050.00 11/14/2007 Financial Development Prep Update growth estimates, prepare bond options Semler 3.25 200 650.00 11/15/2007 Meetings Mayors Roundtable discussions w/ Mayor, Mike Hollibaugh re: TIF information, etc. Matthes 0.50 300 150.00 11/15/2007 Financial Development Prep Matthes 1.00 300 300.00 11/15/2007 Financial Development Prep Update growth estimates, prepare bond options Semler 5.25 200 1,050.00 11/16/2007 Teleconferences discuss bond structures and rates, adjustable vs fixed, etc. w/ Todd K., JP Morgan Matthes 0.25 300 75.00 11/16/2007 Financial Development Review review and discuss prelim. TIF and Bond #'s w/ Jason Matthes 0.50 300 150.00 11/19/2007 Correspondence email to Mayor Brainard re: estimated TIF and potential TIF Bonds Matthes 0.50 300 150.00 11/19/2007 Teleconferences Mayor Brainard Matthes 0.25 300 75.00 11/19/2007 Financial Development Review review and discuss TIF estimates w/ Jason Matthes 1.00 300 300.00 11/19/2007 Financial Development Prep Update TIF estimate Semler 1.25 200 250.00 11/20/2007 Teleconferences Bruce D. Matthes 0.25 300 75.00 11/20/2007 Financial Development Prep TIF schedules /discussions w/ Sherry and Les and re: 2008 Budget and future Matthes 3.00 300 900.00 11/21/2007 Financial Development Prep Update TIF estimate Semler 0.50 200 100.00 11/26/2007 Financial Development Prep email from Todd K.; follow -up w/ Jason Matthes 0.25 300 75.00 11/27/2007 Correspondence email Todd K Matthes 0.25 300 75.00 1/5/2008 Correspondence to Mayor Brainard regarding bond /project status, etc.; email to Todd K. Matthes 0.75 325 243.75 1/12/2008 Correspondence Todd K; Mayor Brainard re: SB 17 could impact bond timing Matthes 0.25 325 81.25 1/31/2008 Financial Development Prep TIF Area growth research Dickman 1.50 160 240.00 1/31/2008 Financial Development Prep Carmel TIF Research and data update. Weiland 8.00 100 800.00 1/31/2008 Financial Development Prep Semler 0.25 225 56.25 2/1/2008 Financial Development Prep growth research Dickman 2.50 160 400.00 2/1/2008 Meetings Meeting with Hamilton County auditor's office to discuss TIF software Semler 3.50 225 787.50 2/4/2008 Financial Development Prep Carmel TIF updating new developments w/ Jason and Heidi drive through all Carmel TIF Areas and make notes on new developments Matthes 5.00 325 1,625.00 2/4/2008 Financial Development Prep TIF Summary Dickman 5.50 160 880.00 2/4/2008 Financial Development Prep Drive Carmel TIF areas Semler 4.25 225 956.25 2/5/2008 Financial Development Prep Growth research Dickman 0.50 160 80.00 2/5/2008 Financial Development Prep TIF Development Research. Weiland 6.00 100 600.00 2/6/2008 Financial Development Prep TIF Area write up Dickman 3.25 160 520.00 2/6/2008 Umbaugh Reports Prep Update TIF estimates Semler 3.50 225 787.50 2/7/2008 Financial Development Prep TIF Summary Dickman 1.00 160 160.00 2/7/2008 Financial Development Prep Carmel TIF Development Research. Weiland 8.00 100 800.00 2/11/2008 Financial Development Prep Prepare schedule showing est. TIF Collections for 2008 Halloran 1.50 140 210.00 2/11/2008 Teleconferences Bruce Donaldson Matthes 0.50 325 162.50 2/12/2008 Correspondence Bruce, Mayor Matthes 0.25 325 81.25 2/12/2008 Financial Development Prep discuss options needed w/ Jason re: TIF Bond (BAN take -out) 126th and CC TIF only; COIT coverage, etc. Matthes 0.50 325 162.50 2/12/2008 Financial Development Prep TIF Parcel growth research /summary Dickman 1.75 160 280.00 2/12/2008 Financial Development Prep Carmel TIF Development Research. Weiland 4.00 100 400.00 2/13/2008 Financial Development Prep TIF Summary Dickman 1.00 160 160.00 2/13/2008 Financial Development Prep discuss analysis w/ Jason; Heidi Matthes 0.25 325 81.25 2/14/2008 Financial Development Prep Carmel TIF Growth calc Dickman 5.50 160 880.00 2/14/2008 Financial Development Prep TIF Development Research. Weiland 7.00 100 700.00 2/15/2008 Financial Development Prep TIF Parcel research Dickman 7.75 160 1,240.00 2/15/2008 Financial Development Prep Update TIF estimate Semler 4.25 225 956.25 2/17/2008 Financial Development Prep Update TIF estimates for TIF Bonds Semler 3.00 225 675.00 2/18/2008 Financial Development Prep Update TIF estimates for TIF Bonds Semler 1.50 225 337.50 2/18/2008 Financial Development Prep Growth comparison Dickman 5.50 160 880.00 2/19/2008 Financial Development Prep TIF Growth research Dickman 6.50 160 1,040.00 2/19/2008 Financial Development Prep Update TIF estimates for TIF Bonds Semler 7.75 225 1,743.75 2/19/2008 Financial Development Prep TIF and financing analysis schedules in prep. for meeting w/ Mayor on 2/20 Matthes 2.50 325 812.50 2/2012008 Meetings Meeting w/ Mayor et al re: TIF bonds Matthes 1.00 325 325.00 2/20/2008 Financial Development Prep TIF Growth research Dickman 0.75 160 120.00 2/21/2008 Financial Development Prep Discuss meeting with Loren Semler 1.50 225 337.50 2/21/2008 Correspondence email Todd at JP Morgan re: rating on Indiana pure TIF bonds Matthes 0.25 325 81.25 2/25/2008 Correspondence email from and to Curt and Bruce re: TIF Bonds... assumptions, timing, proposed legislation and bond structure Matthes 0.25 325 81.25 2/28/2008 Teleconferences Todd K. -JP Morgan re Bonds, rating, interest rates, etc.; discuss assumptions w/ Jason Matthes 0.50 325 162.50 2/28/2008 Financial Development Prep TIF parcel search and mapping. Weiland 2.00 100 200.00 2/29/2008 Other (Describe) Review and revise TIF estimates Semler 1.25 225 281.25 3/3/2008 Teleconferences Bruce Donaldson Matthes 0.25 325 81.25 3/3/2008 Financial Development Prep sizing max. bond Matthes 0.50 325 162.50 3/6/2008 Financial Development Prep Discuss TIF update with Heidi Semler 0.50 225 112.50 3/7/2008 Financial Development Prep Growth research Dickman 1.50 160 240.00 3/8/2008 Legal Documents emails Bruce and Todd K. re: parameters to Bond Resolution Matthes 0.50 325 162.50 3/10/2008 Legal Documents Bruce Donaldson, Todd K.- JP Morgan developing parameters for Bond Resolution allow for fixed or VAR rates, broader parity tests, etc. Matthes 1.00 325 325.00 3/11/2008 Teleconferences discuss Bond Resolution Matthes 0.25 325 81.25 3/11/2008 Financial Development Prep review and discuss changes to preliminary bond structuring Matthes 0.50 325 162.50 3/11/2008 Umbaugh Reports Prep Update TIF and prepare schedules for Taxable bonds Semler 1.25 225 281.25 3/11/2008 Legal Documents review Bond Resolution Matthes 1.00 325 325.00 3/12/2008 Financial Development Prep Update schedules showing available TIF Halloran 1.50 140 210.00 3/12/2008 Financial Development Prep structuring, reviewing and revising Matthes 2.00 325 650.00 3/13/2008 Bond Sale communications with underwriters JP Morgan and Oppenheimer send and explain prelim. TIF Bond schedules; discuss underwriters with Bob Clifford Matthes 1.00 325 325.00 3/13/2008 Financial Development Prep TIF Growth research Dickman 1.75 160 280.00 3/13/2008 Financial Development Prep revsing, reviewing TIF Bond schedules Matthes 2.00 325 650.00 3/14/2008 Financial Development Prep TIF Growth research Dickman 2.50 160 400.00 3/14/2008 Meetings w/ Oppenheimer R. McGinley and Leo Dierckman discuss TIF Bonds Matthes 0.50 325 162.50 3/17/2008 Financial Development Prep Growth research Dickman 3.75 160 600.00 3/18/2008 Financial Development Prep Growth research Dickman 1.75 160 280.00 3/18/2008 Meetings CRC meeting Matthes 1.00 325 325.00 3/18/2008 Travel Matthes 0.50 325 162.50 3/18/2008 Financial Development Prep Matthes 2.00 325 650.00 3/19/2008 Financial Development Prep TIF Growth discussion w LMM /JGS Dickman 0.75 160 120.00 3/20/2008 Financial Development Prep TIF discussion w LMM /JGS Dickman 1.50 160 240.00 3/20/2008 Teleconferences Bryan Nelsoon, Oppenheimer Matthes 0.25 325 81.25 3/24/2008 Meetings Carolyn Anker re: Proposed TIF Bonds and TIF Schedules Matthes 1.00 325 325.00 3/24/2008 Travel Matthes 0.50 325 162.50 3/25/2008 Teleconferences Todd K. et al re: bond marketing, ratings, disclosure, etc. Matthes 0.50 325 162.50 3/25/2008 Teleconferences Working group conference call and follow -up items. Cruz 1.75 225 393.75 3/25/2008 Bond Sale planning for bond marketing: disclosure documents, TIF accounting report and additional info needed for bond rating, etc. Matthes 1.25 325 406.25 3/25/2008 Teleconferences Semler 1.50 225 337.50 3/31/2008 Umbaugh Reports Prep Prepare accounting report for TIF Bonds Semler 1.00 225 225.00 3/31/2008 Umbaugh Reports Prep Prepare accounting report Semler 1.00 225 225.00 4/1/2008 Umbaugh Reports Prep Prepare accounting report Semler 2.00 225 450.00 4/2/2008 Correspondence letter for accounting report Mickens 0.50 85 42.50 4/2/2008 Umbaugh Reports Prep Prepare accounting report Semler 4.50 225 1,012.50 4/3/2008 Financial Development Prep Top Ten Taxpayers Dickman 2.00 160 320.00 4/4/2008 Financial Development Prep AR, Tax Recalc Dickman 3.00 160 480.00 4/4/2008 Umbaugh Reports Prep Prepare accounting report Semler 1.50 225 337.50 4/7/2008 Umbaugh Reports Review Discuss with Loren Semler 0.50 225 112.50 4/7/2008 Financial Development Prep discuss HJU analysis of tax rate change for Hamilton County and Carmel due to HEA 1001 poor data for calulating residential cap and 35% deduction (differentiating home AV over $600,000), etc. Discuss impact on TIF estimate; review and discuss Acctg Report schedule of largest taxpayers Matthes 0.50 325 162.50 4/8/2008 Financial Development Prep tax rate recalc Dickman 1.50 160 240.00 4/8/2008 Financial Development Review Reviewing recalculated tax rates. Hiadari 1.75 140 245.00 4/16/2008 Umbaugh Reports Prep reviewing and editing Matthes 1.00 325 325.00 4/17/2008 Meetings Carmel Finance Committee meeting Matthes 1.00 325 325.00 4/17/2008 Travel Matthes 0.50 325 162.50 4/17/2008 Financial Development Prep growth research Dickman 3.00 160 480.00 4/17/2008 Financial Development Prep Prepare TIF schedules for Finance Committee Meeting Matthes 2.00 325 650.00 4/21/2008 Meetings Council meeting Matthes 1.50 325 487.50 4/21/2008 Travel Matthes 0.50 325 162.50 4/21/2008 Financial Development Prep info for meeting Matthes 0.75 325 243.75 4/21/2008 Financial Development Prep prepare info and extra schedules for meeting Matthes 1.00 325 325.00 4/21/2008 Other (Describe) Semler 0.75 225 168.75 4/25/2008 Umbaugh Reports Prep Matthes 1.00 325 325.00 5/5/2008 Financial Development Prep Matthes 6.00 325 1,950.00 5/6/2008 Financial Development Prep Matthes 1.00 325 325.00 5/9/2008 Meetings Leo Dierckman, Bryan Nelson Oppenheimer Matthes 1.00 325 325.00 5/9/2008 Umbaugh Reports Prep finish revising Matthes 3.00 325 975.00 5/9/2008 Umbaugh Reports Review Revise POS schedules Semler 1.00 225 225.00 5/13/2008 Teleconferences Todd from Mesirow; Sherry Mielke Matthes 0.25 325 81.25 5/15/2008 Other (Describe) emailing Mayor, Curt, etc. re: HEA 1001 analysis and potential net tax rate increase, provide residential and business illustrations, etc.; respond to Mayor's comments re: assume growth, etc. Matthes 1.75 325 568.75 5/19/2008 Umbaugh Reports Review Review and revise POS Semler 2.50 225 562.50 5/19/2008 Umbaugh Reports Prep Dickman 1.75 160 280.00 5/20/2008 Disclosure Documents Prep Met with LMM to discuss status, gathering information to start working on GI and Intro. Cruz 0.50 225 112.50 512012008 Disclosure Documents Prep Prepare General Info Owen 2.50 130 325.00 5/20/2008 Disclosure Documents Prep Matthes 1.00 325 325.00 5/22/2008 Correspondence Perf letter Mickens 0.25 85 21.25 5/22/2008 Disclosure Documents Prep General Info Owen 7.00 130 910.00 5/22/2008 Disclosure Documents Prep Working on POS Intro. Cruz 2.00 225 450.00 5/23/2008 Umbaugh Reports Prep Matthes 1.00 325 325.00 5/23/2008 Disclosure Documents Prep GI Black 0.25 85 21.25 5/23/2008 Disclosure Documents Prep Revisions proofing General Info Owen 3.50 130 455.00 5/27/2008 Correspondence email from Karl Haas re: Shapiro loan Triparty Agreement negative pledge, etc. and POS disclosure Matthes 0.50 325 162.50 5/27/2008 Teleconferences David Lewis JP Morgan Chase forward contact info to Bruce to provide notice of BAN redemption Matthes 0.25 325 81.25 5/27/2008 Bond Sale bond sale planning Matthes 0.50 325 162.50 5/28/2008 Document Management Researching financials and creating emails to send docs to rating agency and insurers Green 1.50 85 127.50 5/28/2008 Umbaugh Reports Prep pdf of AR Black 0.50 85 42.50 5/28/2008 Umbaugh Reports Prep communications re: disclosure of TIF obligations, such as Shapiro's loan and proposed installment contract; Karl's email re: negative pledge, etc; email to Bruce Matthes 0.50 325 162.50 5/28/2008 Disclosure Documents Review Clark 2.00 225 450.00 5/29/2008 Umbaugh Reports Prep ar PDF Black 0.25 85 21.25 5/29/2008 Disclosure Documents Prep Working on POS Intro. Cruz 0.25 225 56.25 5/29/2008 Disclosure Documents Review Clark 1.50 225 337.50 5/29/2008 Legal Documents check BAN maturities email Bruce re: early redemption notice, etc. Matthes 0.50 325 162.50 5/30/2008 Disclosure Documents Prep Working on POS Intro. Cruz 5.00 225 1,125.00 5/30/2008 Disclosure Documents Prep POS Intro Matthes 0.50 325 162.50 5/30/2008 Disclosure Documents Review Clark 1.00 225 225.00 6/2/2008 Correspondence email Mayor re: Underwriter's Counsel Matthes 0.25 325 81.25 6/2/2008 Teleconferences Todd K., Bruce D. re: underwriter's counsel; Karl's email re: negative pledge, etc. Matthes 0.50 325 162.50 6/2/2008 Disclosure Documents Prep Revisions to General Info Owen 1.00 130 130.00 6/2/2008 Disclosure Documents Review Review POS Intro, make revisions. Cruz 4.00 225 900.00 6/3/2008 Bond Sale MBIA questions Matthes 0.25 325 81.25 6/3/2008 Disclosure Documents Prep Revisions to General Info Owen 1.00 130 130.00 6/3/2008 Disclosure Documents Review POS- Review and Edit Intro section; go over certain sections of GI w/ Christy Matthes 3.00 325 975.00 6/3/2008 Disclosure Documents Review POS Clark 0.75 225 168.75 6/3/2008 Legal Documents compare POS flow of funds to Bond Resolution Matthes 0.50 325 162.50 6/4/2008 Correspondence Scheduling rating conference calls w/ Mayor several phone calls to secretaries and others' calendars Green 0.50 85 42.50 6/4/2008 Disclosure Documents Prep intro P Black 0.75 85 63.75 6/5/2008 Correspondence Calls to Carmel to schedule bond rating conference call Green 0.25 85 21.25 6/5/2008 Correspondence emails re: rating, underwriter's counsel, etc. Matthes 0.50 325 162.50 6/5/2008 Financial Development Prep Make changes to Debt section Halloran 2.50 140 350.00 6/5/2008 Disclosure Documents Prep Revisions to General Info Owen 0.50 130 65.00 6/5/2008 Disclosure Documents Review POS intro and G. I. review and discuss changes and add1 info needed w/ staff Matthes 4.00 325 1,300.00 6/6/2008 Correspondence Diana re: Registrar /PA; John Alexander, Cindy Matthes 0.50 325 162.50 6/6/2008 Teleconferences Emails to schedule two conference calls Green 1.75 85 148.75 6/6/2008 Bond Sale arrangements re: bond ratings calls, underwriter's counsel, etc. Matthes 0.50 325 162.50 6/6/2008 Financial Development Prep Make changes to GI Debt Section. Halloran 2.00 140 280.00 6/6/2008 Disclosure Documents Prep Revisions to General Info Owen 2.50 130 325.00 6/6/2008 Disclosure Documents Review proofing revised POS and editing Matthes 2.00 325 650.00 6/7/2008 Umbaugh Reports Review editing and revising POS Accounting Report Matthes 1.00 325 325.00 6/7/2008 Disclosure Documents Prep revising debt section; going through Hamilton County debt FOS's, etc.; POS Intro edits Matthes 4.00 325 1,300.00 6/9/2008 Document Management Expediting the PDF of disc. docs Prepared email to send POS to WG Printing out fresh disclosure docs Green 1.50 85 127.50 6/9/2008 Correspondence Emails and calls to re- schedule conference call Green 0.75 85 63.75 6/9/2008 Correspondence Communications re: rating calls rescheduling, POS review, etc. Matthes 0.50 325 162.50 6/9/2008 Teleconferences Conf. Call w/ S call with John Humphreys from Moody's with questions Matthes 1.75 325 568.75 6/9/2008 Teleconferences John Humphrey, Moody's discuss and send additional info Matthes 0.50 325 162.50 6/9/2008 Financial Development Prep additional info for rating analysts Matthes 0.50 325 162.50 6/9/2008 Umbaugh Reports Prep POS AR Dickman 1.25 160 200.00 6/9/2008 Umbaugh Reports Prep AR changes Matthes 0.50 325 162.50 6/9/2008 Umbaugh Reports Review Review and revise POS Semler 0.75 225 168.75 6/9/2008 Disclosure Documents Prep PDF'd the GI Mickens 0.25 85 21.25 6/9/2008 Disclosure Documents Prep Revisions to General Info Intro Owen 1.25 130 162.50 6/9/2008 Disclosure Documents Review review revised POS and GI ready to send to WG and S &P Matthes 2.00 325 650.00 6/9/2008 Disclosure Documents Review POS Clark 2.50 225 562.50 6/10/2008 Other (Describe) Work with Heidi to get info for S &P Semler 2.00 225 450.00 6/10/2008 Teleconferences Conf. Call w/ S call with John Humphreys from Moody's with questions Matthes 1.75 325 568.75 6/10/2008 Financial Development Prep Prepared spreadsheet with calculations Baumer 1.25 100 125.00 6/10/2008 Financial Development Prep Historical PTRC spreadsheet Baumer 0.75 100 75.00 6/10/2008 Financial Development Prep S &P Research Dickman 4.75 160 760.00 6/10/2008 Financial Development Prep info for Rating agencies Matthes 1.50 325 487.50 6/11/2008 Bond Sale Additional info for S &P, Moody's and Todd K. Matthes 3.00 325 975.00 6/11/2008 Financial Development Prep Provide info on number of different property owners in TIF Areas Baumer 1.25 100 125.00 6/11/2008 Financial Development Prep S &P Research Dickman 4.25 160 680.00 6/11/2008 Umbaugh Reports Review Reviewed accounting report Malone 1.00 375 375.00 6/11/2008 Disclosure Documents Review review revisions from Todd; responses Matthes 1.00 325 325.00 6/11/2008 Disclosure Documents Review POs Clark 0.75 225 168.75 6/12/2008 Teleconferences Conference call- wkg grp Dickman 2.25 160 360.00 6/12/2008 Teleconferences calls for S &P and moodys Semler 1.50 225 337.50 6/12/2008 Teleconferences conf. call re: POS; calls and emails follow -up on legal questions, rating questions, etc. Todd K.; Susan, Heidi, Bruce Matthes 2.50 325 812.50 6/13/2008 Teleconferences call with Moody's Semler 1.00 225 225.00 6/13/2008 Teleconferences calls re: rating questions, etc. Todd K.; Susan, Jason, John Humphrey, and conf. call w/ Moody's Matthes 2.00 325 650.00 6/13/2008 Disclosure Documents Review POS Clark 1.50 225 337.50 6/16/2008 Teleconferences John Humphrey, Moody's; S &P analysts Matthes 1.00 325 325.00 6/16/2008 Teleconferences emails re: Moody's indicator rating, bond insurance potential, etc. Matthes 0.50 325 162.50 6/16/2008 Bond Sale info for rating agencies Matthes 1.00 325 325.00 6/16/2008 Financial Development Prep S &P Research /POS AR Dickman 6.75 160 1,080.00 6/16/2008 Umbaugh Reports Prep discussing revisions needed with Heidi based on W.G. comments Matthes 1.00 325 325.00 6/16/2008 Disclosure Documents Review POS Clark 0.50 225 112.50 6/17/2008 Teleconferences S &P call: "walk -thru" neutralization form calculations and concepts, and "what ifs S &P call re A- rating and ABT; Todd K. Matthes 1.00 325 325.00 6/17/2008 Disclosure Documents Prep revising POS emails to and from WG re: changing Circuit Breaker language re: debt priority and intercept; etc. Matthes 1.50 325 487.50 6/17/2008 Disclosure Documents Review POS Clark 2.25 225 506.25 6/18/2008 Correspondence Beesley re: call premiums Matthes 0.25 325 81.25 6/18/2008 Correspondence email re: bond rating Matthes 0.25 325 81.25 6/18/2008 Teleconferences call with S &P Matthes 0.25 325 81.25 6/18/2008 Umbaugh Reports Review review and revise Matthes 2.00 325 650.00 6/18/2008 Disclosure Documents Prep gi -pdf and intro P Black 0.75 85 63.75 6/18/2008 Disclosure Documents Prep revising and editing POS Matthes 4.00 325 1,300.00 6/18/2008 Disclosure Documents Prep Get POS ready for printing McKinney 0.25 130 32.50 6/18/2008 Disclosure Documents Review POS Clark 2.50 225 562.50 6/19/2008 Bond Sale Todd re: underwriter comp, etc. Matthes 0.50 325 162.50 6/19/2008 Disclosure Documents Prep OS to print Mack 0.75 85 63.75 6/19/2008 Disclosure Documents Prep Prepare for printer Owen 0.50 130 65.00 6/19/2008 Disclosure Documents Review POS Clark 3.25 225 731.25 6/19/2008 Disclosure Documents Review question from Susan on Account descrip; final changes from Todd, discuss, and from Bruce. Matthes 1.75 325 568.75 6/20/2008 Correspondence Prepare POS transmittal letter Keller 0.25 130 32.50 6/20/2008 Bond Sale communications w/ S &P re: rating, review rationale, etc Matthes 0.50 325 162.50 6/20/2008 Disclosure Documents Prep OS Letter mailing Mack 1.25 85 106.25 6/20/2008 Disclosure Documents Prep PDF'd the POS Mickens 0.75 85 63.75 6/20/2008 Disclosure Documents Review POS distribution Clark 1.75 225 393.75 6/23/2008 Bond Sale underwriter questions, communications Matthes 0.50 325 162.50 6/23/2008 Disclosure Documents Review Presale Clark 0.25 225 56.25 6/24/2008 Disclosure Documents Review POS Clark 0.25 225 56.25 6/25/2008 Bond Sale Matthes 0.50 325 162.50 6/25/2008 Disclosure Documents Review POS Clark 1.00 225 225.00 6/26/2008 Teleconferences Kathryn Horan, S &P, re: Carmel Site Visit Matthes 0.25 325 81.25 6/27/2008 Bond Sale review BPA, arrangements w/ Ron, et al re signing of BPA, potential to put signature in escrow, etc.; email exchange with Jason at Wachovia Matthes 0.75 325 243.75 6/30/2008 Bond Sale discuss Vanderburgh TIF Bond sale last week w/ Brian; pricing call with Mesirow, review pricing sched's from Mesirow; distribution list to Oppenheimer; email reminder to Ron re: sign BPA; etc. Matthes 1.50 325 487.50 6/30/2008 Disclosure Documents Review POS Clark 1.00 225 225.00 7/1/2008 Bond Sale bond pricing Matthes 3.00 325 975.00 7/2/2008 Other (Describe) Disc w LMM Dickman 0.75 160 120.00 7/2/2008 Disclosure Documents Prep Intro F Mickens 2.00 85 170.00 7/2/2008 Disclosure Documents Prep Prepare after sale letter Owen 3.00 130 390.00 7/2/2008 Disclosure Documents Prep Meet with Loren Heidi Owen 0.50 130 65.00 7/2/2008 Disclosure Documents Prep Prepare Final Intro Statement Owen 2.50 130 325.00 7/2/2008 Disclosure Documents Review FOS Clark 0.25 225 56.25 7/3/2008 Correspondence Prepared email to send FOS to WG updated info Green 0.50 85 42.50 7/3/2008 Bond Sale aftersale letter Mickens 0.75 85 63.75 7/3/2008 Bond Sale Matthes 0.50 325 162.50 7/3/2008 Disclosure Documents Prep Intro F Mickens 0.50 85 42.50 7/3/2008 Disclosure Documents Prep Proof and make revisions to FOS Owen 2.25 130 292.50 7/3/2008 Disclosure Documents Prep Proof and make revisions to after sale letter Owen 0.75 130 97.50 7/3/2008 Disclosure Documents Review FOS Clark 0.75 225 168.75 7/7/2008 Bond Sale closing related Matthes 0.50 325 162.50 7/7/2008 Umbaugh Reports Prep FOS AR Dickman 0.75 160 120.00 7/7/2008 Disclosure Documents Review FOS Clark 0.75 225 168.75 7/8/2008 Bond Sale Matthes 2.00 325 650.00 7/8/2008 Umbaugh Reports Prep FOS AR, disc w LMM Dickman 2.50 160 400.00 7/8/2008 Disclosure Documents Prep Bryant 1.00 130 130.00 7/8/2008 Disclosure Documents Review FOS Clark 0.75 225 168.75 7/9/2008 Financial Development Prep FOS AR Dickman 1.75 160 280.00 7/9/2008 Regulatory Report Prep DLGF PBS McKinney 1.00 130 130.00 7/9/2008 Disclosure Documents Prep Revisions to FOS Keller 0.50 130 65.00 7/9/2008 Disclosure Documents Prep Revisions to after sale letter Owen 2.50 130 325.00 7/9/2008 Disclosure Documents Review FOS Matthes 1.00 325 325.00 7/10/2008 Document Management Preparing FOS for printing GI changes WG changes to Intro copying in workroom paginated LO Green 3.00 85 255.00 7/10/2008 Correspondence Diana Cordray Matthes 0.25 325 81.25 7/10/2008 Bond Sale aftersale letter Mickens 0.75 85 63.75 7/10/2008 Bond Sale Closing Related call C -T office re: Bond account established at 5/3; Closing instructions, etc Matthes 1.00 325 325.00 7/10/2008 Financial Development Prep S &P Neutralization mtg prep Dickman 3.00 160 480.00 7/10/2008 Umbaugh Reports Review review FOS AR Matthes 1.00 325 325.00 7/10/2008 Disclosure Documents Review FOS ASL Clark 1.00 225 225.00 7/10/2008 Disclosure Documents Review changes to FOS Matthes 0.50 325 162.50 7/11/2008 Document Management Proofreading PDF emailing to Underwriter filing OS originals Green 0.50 85 42.50 7/11/2008 Meetings Meeting/Tour w/ Standard Poors Analysts; meeting w/ Mesirow re: bond sale, etc. Matthes 6.00 325 1,950.00 7/11/2008 Bond Sale bond closing information Matthes 0.50 325 162.50 7/11/2008 Financial Development Prep mtg prep., neutralization mtg w/ S &P, TIF area tour Dickman 6.50 160 1,040.00 7/11/2008 Disclosure Documents Prep PDF'd the FOS Mickens 0.75 85 63.75 7/14/2008 Bond Sale bond closing information Matthes 10.00 325 3,250.00 7/15/2008 Document Management ASL, FOS, etc. Green 2.00 85 170.00 7/14/2008 Bond Sale bond closing information Matthes 2.00 325 650.00 7/11/2008 Bond Sale (Closing) Assist with wires of Bond proceeds, BAN pay -off, etc. Bawcum 3.00 200 600.00 Total For Services $118,311.25 Total For Expenses 185.07 Current Amount Due $118,496.32 Umbaug►h 8365 Keystone Crossing, Suite 300 P.O. Box 40458 Indianapolis, IN 46240 -0458 (317) 465 -1500 Carmel Redevelopment Commission City of Carmel City Hall One Civic Square Carmel, IN 46032 Re: TIF Financial Services related to City Center, PAC Bond Repayment and CRC Cash Flow Invoice No. 071508JMM Date 71508 Client No. C00600 DATE SERVICE /STAFF HOURS RATE AMOUNT 7/25/2007 Correspondence Letter re: 2007 TIF estimate Matthes 1.50 $300 $450.00 7/25/2007 Teleconferences Sherry Mielke Matthes 0.25 300 75.00 7/26/2007 Correspondence 2007 TIF estimate to Sherry; discuss schedule w/ Jason Matthes 0.25 300 75.00 7/26/2007 Correspondence letter, PDF, and label Mickens 0.50 80 40.00 8/1/2007 Correspondence Corr, copy, mail Mack 0.25 80 20.00 9/28/2007 Teleconferences Discuss TIF with Lee Semler 0.5 200 100.00 10/1/2007 Teleconferences Discuss parcels and spring settlement with Lee Semler 0.5 200 100.00 11/21/2007 Correspondence Bruce re: Plan Commission and West Clay EDA Matthes 0.25 300 75.00 11/28/2007 Teleconferences Sherry re: Curt's Redevelopment Funds cash flow, debt schedules, TIF Revenue, etc; review Curt's schedule and vm to Sherry w/ comments; vm to Jason Matthes 0.75 300 225.00 11/28/2007 Financial Development Review review Curt's Redevelopment Funds cash flow, debt schedules, TIF Revenue, etc; Matthes 0.75 300 225.00 11/29/2007 Teleconferences (1.) Sherry in the a.m.; (2.) Sherry, Curt and Les re: Curt's Redevelopment Funds cash flow, debt schedules, TIF Revenue, etc; Matthes 1.25 300 375.00 12/3/2007 Correspondence Email to Bruce, Les, Karl, Curt, and Sherry re: Coonrod questions re: TIF cash flow, Reserve, replenishment of Reserve until completion, TIF availablility for project costs, also whether Project includes Theatre, etc.; email from Curt Matthes 0.75 300 225.00 12/3/2007 Teleconferences Curt Coonrod re: TIF cash flow, Reserve, etc. Look up Trust Indenture and Lease re: replenishment of Reserve until completion, also whether Project includes Theatre, etc.; call Bruce D. Matthes 1.00 300 300.00 12/4/2007 Teleconferences conf. call re: RDC TIF and Curt's cash flow projection, PAC reserve, etc; notes to file Matthes 2.00 300 600.00 12/5/2007 Correspondence from and to Curt; from Karl Matthes 0.50 300 150.00 12/5/2007 Financial Development Review new cash flow from Curt Matthes 0.50 300 150.00 12/6/2007 Correspondence from and to Curt; Matthes 0.25 300 75.00 12/6/2007 Financial Development Review review and discuss revised cash flow w/ Jason Matthes 1.00 300 300.00 12/6/2007 Financial Development Prep Review debt and cash flow schedule prepared by Curt Semler 2.00 200 400.00 121612007 Financial Development Prep Recreate schedule of cash flows for TIF Weiland 4.00 100 400.00 12/7/2007 Correspondence emails /call with Curt re: cash flow; also Council presentation Matthes 0.50 300 150.00 12/7/2007 Financial Development Prep Review debt and cash flow schedule prepared by Curt Semler 0.75 200 150.00 12/7/2007 Financial Development Review review and discuss revised cash flow Matthes 0.75 300 225.00 12/10/2007 Teleconferences Curt; Coonrod re; cash flow and debt; Matthes 0.50 300 150.00 12/10/2007 Financial Development Review review Curt's response to our questions re: cash flow and 2007 debt payments, cash flow schedule, etc Matthes 1.75 300 525.00 12/10/2007 Financial Development Prep Review cash flow schedule prepared by Curt Semler 0.75 200 150.00 12/11/2007 Correspondence Curt Coonrod re: revised CRC cash flow schedules Matthes 0.25 300 75.00 12/11/2007 Financial Development Review review 2 new cash flow schedules for Redevt Fund Mayor version and CRC calendar version; compare to prior version Matthes 1.00 300 300.00 2/7/2008 Teleconferences Curt Coonrod Matthes 0.50 325 162.50 2/27/2008 Financial Development Prep Clay West parcels, AV, TIF est.; email Bruce re: Clay West impact stmt Matthes 0.50 325 162.50 2/27/2008 Umbaugh Reports Prep Work with Heidi review WestClay TIF area and preparing TIF estimates Semler 1.00 225 225.00 2/27/2008 Regulatory Report Prep TIS Dickman 3.00 160 480.00 2/28/2008 Umbaugh Reports Prep Work with Heidi review WestClay TIF area and preparing TIF estimates Semler 1.75 225 393.75 2/28/2008 Other (Describe) West Clay EDA TIF estimate Discuss new map and info w/ Jason and Heidi; Matthes 0.25 325 81.25 2/28/2008 Financial Development Prep FS TIS Dickman 2.50 160 400.00 2/29/2008 Financial Development Prep FS, TIS Dickman 3.50 160 560.00 2/29/2008 Other (Describe) West Clay EDA TIF estimate call Curt Matthes 0.25 325 81.25 3/3/2008 Regulatory Report Prep TIS Dickman 4.25 160 680.00 3/4/2008 Regulatory Report Prep TIS Dickman 2.75 160 440.00 3/4/2008 Umbaugh Reports Review WestClay EDA review and edit the Impact Statement and Transmittal Letter Matthes 1.50 325 487.50 3/4/2008 Regulatory Reports Review Review impact statement Semler 2.00 225 450.00 3/5/2008 Regulatory Reports Review Review impact statement Semler 1.75 225 393.75 3/5/2008 Umbaugh Reports Review revising impact statement for cum funds, etc. Matthes 1.00 325 325.00 3/5/2008 Regulatory Report Prep TIS Dickman 6.75 160 1,080.00 3/6/2008 Regulatory Report Prep TIS Dickman 5.50 160 880.00 3/6/2008 Umbaugh Reports Review Impact Statement Matthes 0.25 325 81.25 3/6/2008 Correspondence letters and overnight labels Mickens 0.25 85 21.25 4/7/2008 Teleconferences phone calls and emails on 4/2 questions from Mayor and Sherry re: PAC Bond Interest Account w/ $7MM balance clarify that purpose is to pay interest on CIBS; discuss also w/ Jason; Matthes 1.00 325 325.00 6/11/2008 Correspondence emails requesting TIF info re: Village Financial LLC Energy Center Installment Loan project banks and Karl; TIF, bond ratings, etc. Matthes 0.75 325 243.75 Total For Services 14,038.75 Total For Expenses 115.41 Current Amount Due $14,154.16 Umbaugh 8365 Keystone Crossing, Suite 300 P.O. Box 40458 Indianapolis, IN 46240 -0458 (317) 465 -1500 Carmel Redevelopment Commission City of Carmel City Hall One Civic Square Carmel, IN 46032 Re: TIF Financial Services related to Merchants Pointe Invoice No. 071508JMM Date 71508 Client No. C00600 DATE SERVICE /STAFF HOURS RATE AMOUNT 6/11/2008 Correspondence Email from Hennessey re: TIF Bond status Matthes 0.25 $325 $81.25 6/18/2008 Financial Development Prep instructions to staff re: info needed Matthes 0.50 325 162.50 6/18/2008 Financial Development Prep Merchants Pointe TIF Update Dickman 1.75 160 280.00 6/19/2008 Financial Development Prep Merchants Pointe Dickman 0.50 160 80.00 6/20/2008 Financial Development Prep discuss status of info needed from Trustee, etc. w/ Heidi and email Buddy Matthes 0.25 325 81.25 6/20/2008 Financial Development Prep Merchants Pointe TIF Update /research Dickman 0.25 160 40.00 6/23/2008 Financial Development Prep Merchants Pointe TIF estimate Dickman 1.75 160 280.00 6/24/2008 Financial Development Prep Merchants Pointe TIF est. Dickman 0.75 160 120.00 6/24/2008 Umbaugh Reports Review Review schedules Semler 0.50 225 112.50 6/25/2008 Correspondence send schedules to Buddy Hennesey with note Matthes 0.25 325 81.25 6/25/2008 Teleconferences call Buddy Hennessy Matthes 0.25 325 81.25 6/25/2008 Financial Development Review review financial and legal info Matthes 1.50 325 487.50 6/25/2008 Umbaugh Reports Review Review schedules, discuss with Loren and Heidi Semler 1.00 225 225.00 6/25/2008 Financial Development Prep Merchants Pointe TIF Estimate Dickman 1.00 160 160.00 6/26/2008 Correspondence additional communication with Buddy Hennesey regarding schedules and bond pay -off Matthes 0.25 325 81.25 Current Amount Due $2,353.75