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London Witte/CRC/24,999/finance advisor LONDON v G WITTE GROUP February 7, 2014 William Hammer President Carmel Redevelopment Commission 30 West Main Street, Suite 220 Carmel, IN 46032 Re: Engagement Letter—Accounting and Financial Advisory Services Dear Bill: We are pleased to submit this engagement letter to you for consideration by the Carmel Redevelopment Commission ("CRC") regarding our retention to provide accounting and financial advisory services to the CRC (the "Project"). SCOPE OF SERVICES London Witte Group ("LWG") will provide the accounting and financial advisory services necessary in connection with the Project including, but not limited to, the following: • Assist the Commissioners, staff, legal counsel and other consultants with the coordination with the City Clerk-Treasurer regarding information requested, as needed; • Review, comment and assist in the analysis of the financial aspects of prior transaction documents; • Review, comment and assist in the analysis of the financial aspects of all future transactions and the related documents; • Review and comment to the CRC on the projections and information provided by other financial consultants concerning the potential revenues and expenses of the CRC; • Assist with the preparation of the Annual Commission Reports required by th'e Indiana Department of Local Government Finance (DLGF) for posting on its Gateway system; • Assist with preparation of the annual audit by the Indiana State Board of Accounts; • Prepare, or assist in the preparation, of historical and projected financial information for the potential buyers of the CRC's financial obligations, underwriters' of such obligations, • rating agencies, credit enhancement providers, financing team members and other related parties; • Attend called regular and special meetings of the CRC (including executive sessions); • Attend staff and working group meetings with the CRC staff and working groups as directed by the Executive Director/President; and • Other such matters as directed by the CRC and/or the Executive Director/President/Chair of the Finance Committee Gem/ied Public Accountants One Independence Cenier. 776 North Meridian Street.Suite Soo Indianapolis. Indiana 46202 Telephone 1 317-634-4747 Facsimile 1 317-632-2727 Toll Free 1 877-634-4747 Web www.LWGGPA.com William Hammer February 7, 2014 Page 2 ENGAGEMENT TEAM The following individuals will comprise the engagement team for this Project: Jim Higgins—Partner Bob Reynolds— Senior Staff Accountant All of the above listed engagement team members are Certified Public Accountants. However, please note that additional firm members will be assigned to various segments of the Project, as it is our intent to staff this engagement at the level that will provide the greatest efficiency and be most economical for CRC. HOURLY RATES Our fee for these services will be based on the following maximum hourly rates of the staff assigned to the engagement: Partners $335 Principals 225 Managers 200 Senior Accountants 125 Staff Accountants 90 These represent our maximum standard hourly fees. If the hourly rate of any individual assigned to this engagement is less than the amount specified above, the lower rate would be charged. These rates represent the current maximum hourly rates of the firm. Rates are adjusted from time to time and any change in the maximum hourly rates listed above will be provided to the CRC at least thirty (30) days prior to their implementation. OUT-OF-POCKET EXPENSES We would also request that reimbursement be provided for any out of pocket cost (travel, photocopies, deliver charges, etc.) that maybe incurred during the engagement. Reimbursements will not be requested for toll calls, cell phone charges or computer time. Additionally, "travel" for this engagement would be associated with any out of town travel that may be required and would not include travel to and from our offices in Indianapolis to Carmel for CRC related matters. William Hammer February 7, 2014 Page 3 ESTIMATED 2014 BILLING Based upon our prior experience with the CRC, we would estimate that the total billing for calendar 2014 would be less than $25,000. INVOICING A detailed invoice for services will be submitted monthly during the term of the Project. The invoice will include a description that will outline the date, personnel, time on task and billing rate for each individual that worked on the Project as well as a description of the items for which reimbursements are being requested. TERM This engagement shall be effective from January 1, 2014 through and including December 31, 2014. The engagement may be terminated by either party upon 30 days written notice. We greatly appreciate the opportunity to provide this proposal for your consideration. If the foregoing terms are acceptable, please indicate so by signing and returning a copy of this letter, retaining the original for your files. We look forward to being of service to the CRC and the citizens of Carmel. If you should have any questions or need additional information, please do not hesitate to contact me. Sim • rei•, James P. Higgins ACKNOWLEDGED and AGREED to this 2-\ day of A fe21L2014 CARMEL REDEVELOPMENT COMMISSION William Hammer, PresjLlent evr u. 'I h2 � /is, o N C0 (�/�� INDIANA RETAIL TAX EXEMPT PAGE ity o f l\ .Carmel CERTIFICATE NO.003120155 002 0 PURCHASE ORDER NUMBER- \ JJJIII FEDERAL EXCISE TAX EXEMPT 71775 35-60000972 ONE CIVIC SQUARE THIS NUMBER MUST APPEAR ON INVOICES,NP CARMEL, INDIANA 46032-2584 VOUCHER, DELIVERY MEMO. PACKING SLIPS, SHIPPING LABELS AND ANY CORRESPONDENCE. FORM APPROVED BY STATE BOARD OF ACCOUNTS FOR CITY OF CARMEL- 1997 PURCHASE ORDER DATE DATE REQUIRED REQUISITION NO. VENDOR NO. DESCRIPTION • VENDOR L ohjuh WI]) 6/-obit SHIP (8( 1776 Al frlerijidn 51, Salle Co TO 3u Li /1/ill P. 5u do 220 �6i hl�l 2 iY 6022 1 nT�iQn/)epl,t IN N62p2 � CONFIRMATION BLANKET CONTRACT PAYMENT TERMS FREIGHT QUANTITY UNIT OF MEASURE DESCRIPTION UNIT PRICE EXTENSION %nHnr,nl S(Tr U,iP4 -(Ur 2014 t2. y9-7 • St r, ..-17 ...A p ... • Send Invoice To: ( 11 ( �' �" Lg_did r 30 W mton 5�l_ , Su,1c 22o fl t n e l N 46632 PLEASE INVOICE IN DUPLICATE DEPARTMENT /ACCOUNT PROJECT PROJECT ACCOUNT AMOUNT 902_ 43Ft0309 PAYMENT • NP VOUCHER CANNOT BE APPROVED FOR PAYMENT UNLESS THE P.O. NUMBER IS MADE A PART OF THE VOUCHER AND EVERY INVOICE AND VOUCHER HAS THE PROPER SWORN AFFIDAVIT ATTACHED. SHIPPING INSTRUCTIONS • I HEREBY CERTIFY THAT THERE IS AN UNOBLIGATED BALANCE IN THIS APPROPRIATION SUFFICIENT TO PAY FOR THE ABOVE ORDER. • SHIP REPAID. • /� • C.O.D.SHIPMENTS CANNOT BE ACCEPTED. / I r U (� f ll-C�V\ 2 • PURCHASE ORDER NUMBER MUST APPEAR ON ALL ORDERED BY i `�" SHIPPING LABELS. 62 7/'/� /W/ f/' Mir,n •THIS ORDER ISSUED IN COMPLIANCE WITH CHAPTER 99,ACTS 1945 TITLE �( k 6 iV�-t.t Li ,M \ vl% ,v,LN\ AND ACTS AMENDATORY THEREOF AND SUPPLEMENT THERETO. U CLERK-TREASURER DOCUMENT CONTROL NO. 31775 A.P.V. COPY-SIGN AND RETURN TO CLERK'S OFFICE