HomeMy WebLinkAboutCRC-2012-03 4CDC Monon WorkRESOLUTION NO. 3 -2012
WHEREAS, the Members of The City of Carmel Redevelopment Commission ( "CRC ") have
been provided with a copy of that certain "Project Agreement" intended to be executed by and between
Carmel City Center Community Development Corporation ( "4CDC ") and Carmel Development I, LLC, an
affiliate of Anderson Birkla Investment Partners, LLC ( "CDI ");
WHEREAS, pursuant to the Project Agreement: (a) 4CDC will convey portions of the parcel
commonly known as "Parcel 7c" to CDI, which portions are defined in the Project Agreement as the "Monon
Parcel" and the "Third Avenue Parcel "; and (b) CDI will construct on the Monon Parcel and the Third Avenue
Parcel projects that are defined in the Project Agreement as the "Monon Parcel Project" and the "Third Avenue
Parcel Project ", respectively;
WHEREAS, the Monon Parcel and the Third Avenue Parcel, collectively, are the "Parcels ";
WHEREAS, pursuant to that certain Agreement by and among CRC, 4CDC, Carmel Garage
Development Company, LLC, and Carmel Theater Development Company, LLC, dated January, 2010 (the
"Parcel 7c Agreement "), any conveyance by 4CDC of a portion of Parcel 7c is subject to the prior approval
of CRC;
Parcels to CDI;
WHEREAS, CRC wishes to approve the Project Agreement, including the conveyance of the
WHEREAS, pursuant to the Project Agreement, 4CDC is obligated to complete certain work
comprised of public right -of -way and streetscape improvements, which work is defined in the Project
Agreement as the "4CDC Monon Work ";
WHEREAS, 4CDC has requested that CRC complete the 4CDC Monon Work for and on
behalf of 4CDC; and
WHEREAS, because CRC wishes to facilitate the development and construction of the
Monon Parcel Project and the Third Avenue Parcel Project, CRC has agreed to complete the 4CDC Monon
Work on behalf of 4CDC;
NOW, THEREFORE, BE IT RESOLVED THAT:
1. CRC hereby approves: (a) the Project Agreement, including the conveyance of the Parcels to CDI;
and (b) the finalization and subsequent execution of: (i) an agreement with 4CDC pursuant to which CRC
commits to complete the 4CDC Monon Work for and on behalf of 4CDC; together with (ii) such other
certificates, documents, and /or instruments reasonably required to satisfy the obligations undertaken by CRC
with respect to the 4CDC Monon Work (all of the foregoing, collectively, the "CRC Documents ").
2. The President of CRC (the "President ") hereby is authorized to execute the CRC Documents, which
CRC Documents shall be on terms and conditions: (a) consistent with this Resolution; and (b) otherwise as
determined by the President to be necessary or appropriate. The Vice President of CRC hereby is authorized
to execute any of the CRC Documents in the President's absence.
Z:1 Documents\Shoup, Jenny \City of CarmellResolutlons\Approval of
Anderson Birkla.v2.wpd
Passed by the City of Carmel Redevelopment Commission this 16th day of May, 2012, by a
vote of y ayes and 0 nays.
CITY OF CARMEL REDEVELOPMENT COMMISSI
Z: \Documents \Shoup. JennylCity of CarmeIResolutions\Approvai of
Anderson Birkla.v2.wpd
David C. Bowers, Vice Presiden
By:
B .dley F. Meyer, Secretary,
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B0, Je o
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Carolyrf`, A ker
By: