D-1995-10 Thompson Interlocal City/Hamilton Co./HC Redev. Comm./96th/SR 421 EDAr7A
ORDINANCE D- 1995 -10
SPONSOR: Councilor Snyder
AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA,
APPROVING AND ADOPTING INTERLOCAL AGREEMENT
WHEREAS, Indiana Code 36 -1 -7 authorizes cooperative endeavors between governmental
entities so as to better and more economically and efficiently serve the public health, safety and
welfare; and
WHEREAS, Indiana Code 36 -1 -7 -2 authorizes the Common Council to approve such
"interlocal agreements;" and
WHEREAS, the "Interlocal Agreement" by and among the City of Carmel, Indiana;
Hamilton County, Indiana; and the Hamilton County Redevelopment Commission pertaining to the
use of tax increment funds from the Thomson Consumer Electronics Economic Development Area
and the 96 Street -U.S. 421 Economic Development Area, a copy of which is attached hereto and
incorporated herein as Exhibit A "Interlocal Agreement is in the best interests of the City of
Cannel and its residents.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Carmel,
Indiana, that:
Section 1. The foregoing. Recitals are fully incorporated herein by this reference.
Section 2. The Interlocal Agreement should be and is hereby approved and adopted by the
Common Council of the City of Carmel, Indiana.
Section 3. The Clerk Treasurer is hereby directed to file a copy of the Interlocal Agreement
with the Hamilton County Recorder and State Board of Accounts within the time periods established
by Indiana Code 36- 1 -7 -6.
Section 4. This Ordinance shall be in full force and effect from and after the date of its
passage, execution by the Mayor and such publication as is required by law.
PASSED by the Common Council of the City of Carmel, Indiana this t d
o day of June,
2010, by a vote of 40 ayes and Q nays.
1
2010028337 ORDINANCE $73.00
06/25/2010 09:15:56A 31 PGS
Jennifer J Hayden
HAMILTON County Recorder IN
Recorded as Presented
I IIIIII Lill I 1111111111111 IIN 1 11111 I IIHIIIIIIIIIIIIIN IIl
Pr
Richard fi Sharp P
i
Ro ald E. Carter
COMMON COUNCIL FOR THE CITY OF C
ident Pro Tempore
ATTES
Diana L. Cordray, IAMC, Cler teas rer
Presented by me to th
the Q of June, 2010.
v Approved by me, Mayor of the City of Carmel, Indiana, at Co' o'clock P m. this
cat day of June, 2010.
ATTEST:
Diana L. Cordray, IAMC, Clerk- Tre sur r
The document was prepared by Michael A. Howard, Hamilton County Attorney
Kevin Rider
W. "Eri
riffiths
J d Y ,P Es c.� N r f
eide ticker,
uci yder
of the City of Carmel, Indiana, at to b 3 o'clock P m. on
2
Diana L. Cordray, IAMC, Clerk- Treas4rer
s Brainard, Mayor
affirm, under the penalties for perjury, that i have
taken reasonable care to redact each Social Security
numbe in this document, unless required by law.'
Name
RESOLUTION NO. 05- 24 -10 -03
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF
HAMILTON COUNTY, INDIANA, APPROVING AND
ADOPTING INTERLOCAL AGREEMENT
WHEREAS, Indiana Code 36 -1 -7 authorizes cooperative endeavors between
governmental entities so as to better and more economically and efficiently serve the public
health, safety and welfare; and
WHEREAS, Indiana Code 36 -1 -7 -2 authorizes the Board of Commissioners to approve
such "interlocal agreements and
WHEREAS, the Interlocal Agreement by and among the City of Carmel, Indiana;
Hamilton County, Indiana; and the Hamilton County Redevelopment. Commission pertaining to
the use of tax increment funds from the Thomson Consumer Electronics, Inc., Economic
Development Area and the 96 Street -U.S. 421 Economic Development Area, a copy of which is
attached hereto and incorporated herein as Exhibit A "Interlocal Agreement is in the best
interests of Hamilton County, Indiana, and its residents.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF HAMILTON COUNTY, INDIANA, THAT;
Section 1, The foregoing Recitals are fully incorporated herein by this reference.
Section 2. The Interlocal Agreement should be and is hereby approved and adopted
by the Board of Commissioners of Hamilton County, Indiana,
Section 3. The Auditor is hereby directed to file a copy of the Interlocal
Agreement with the Hamilton County Recorder and State Board of
Accounts within the time periods established by Indiana Code 36- 1 -7 -6.
Section 4. This Resolution shall be in full force and effect: from and after the date of
its passage execution by the Board of Commissioners and such
publication as is required by law.
ALL OF WHICH IS RESOLVED by the Board of Conithissioners of Hamilton County,
Indiana, this 24 day of May, 2010.
ATTEST:
Dawn Coverdale
BOARD OF COMMISSIONERS OF
HAMILTON COUNTY
Steven C. Dillinger
Steven A. Holt
G
C istine Altman
AN INTERLOCAL AGREEMENT BETWEEN THE CITY OF CARMEL
AND HAMILTON COUNTY CONCERNING THE OF EXPENSES FROM THE
THOMSON CONSUMER ELECTRONICS. INC., CLAY TOWNSHIP
ECONOMIC DEVELOPMENT AREA, AND THE ISSUANCE OF BONDS
AND PAYMENT OF EXPENSES FROM THE 96TH STREET -US421
ECONOMIC DEVELOPMENT AREA
Document Cross Reference No. 9133525
200000052067
This Interlocal Agreement entered into as of May 24, 2010, by and among
the Board of Commissioners of Hamilton County "the Commissioners and the
Hamilton County Council "the Council acting on behalf of Hamilton County,
Indiana, "the County the Hamilton County Redevelopment Commission "the
Commission and the City of Carmel "the City
WHEREAS, the Hamilton County Redevelopment Commission on the 17th
day of April, 1990, passed a Declaratory Resolution No. 4- 17 -90, which
established the Thomson Consumer Electronics, Inc., Clay Township,
Economic Development Area "the Thomson Area and
WHEREAS, the Declaratory Resolution for the Thomson Area approved
the Economic Development Plan "the Plan which Plan contained specific
recommendations for construction of local public improvements to enhance
economic development in the Thomson Area; and,
1
WHEREAS, the Declaratory Resolution was confirmed by the
Commission on the 16th day of April, 1991, after the approval of the Plan by the
Carmel Plan Commission and the Hamilton County Board of Commissioners;
and,
WHEREAS, on the 3 day of March, 2005, the Commission made a
finding that the Indianapolis Executive Airport "the Airport is public
infrastructure which enhances economic development opportunities within all
of Hamilton County and specifically benefits economic development within, and
near, the Thomson Area as shown in the January 19, 2005, report of the
Indianapolis Executive Airport, which is attached hereto and marked as Exhibit
A; and,
WHEREAS, the Plan for the Thomson Area was amended by the
Commission on the 3 day of March, 2005, "the First Amendment pursuant
to Resolution No. 3- 3 -05 -A to include payment of the cost of certain public
improvements to the Airport and costs of construction the round -a -bout at
106th Street and Springmill Road; and,
WHEREAS, the First Amendment also amended the Plan for the
Thomson Area to permit the Commission to pay up to One Million Four
Hundred Thousand Dollars ($1,400,000) of the County's acquisition costs for
the Airport which amount has not been paid by the Commission, but was paid
by the County; and,
WHEREAS, the Plan for the Thomson Area was further amended by the
Commission on the 25th day of August, 2005, "the Second Amendment
pursuant to Resolution No. 8- 25 -05 -A, to include payment of the costs of
Illinois Street north of 116th Street; and,
WHEREAS, pursuant to an Interlocal Agreement approved by the
Common Council of the City on August 15, 2005, the Commission issued the
Hamilton County Redevelopment District Tax Increment Refunding Revenue
2
Bonds of 2005 on November 5, 2005, in the amount of Five Million Six
Hundred Sixty Thousand Dollars ($5,660,000) "the 2005 Bonds and later
issued the Hamilton County Redevelopment District Tax Increment Revenue
Bonds of 2006 on March 16, 2006, in the amount of Nineteen Million Eighty
Thousand Dollars ($19,080,000) "the 2006 Bonds and,
WHEREAS, the proceeds of the 2005 Bonds and 2006 Bonds were used
to pay the some of the costs of the projects identified in the First Amendment
and all of the costs identified in the Second Amendment; and,
WHEREAS, since the time of the creation of the Thomson Area, the City
has annexed all of the real estate within the Thomson Area; and,
WHEREAS, the Allocation Fund for the Thomson Area "the Thomson
Fund held by the Hamilton County Auditor, presently has a balance of
approximately Five Million Eight Hundred Forty -nine Thousand Dollars
($5,849,000) in excess of the amount required in the principal and interest
accounts, and the amount required in the debt service reserve accounts for the
2005 Bonds and the 2006 Bonds; and,
WHEREAS, the City and the County are desirous of entering into an
Agreement with the Commission to use the tax increment in the Thomson.
Fund for the Commission to pay the costs of certain local public improvements
which benefit the Thomson Area and to provide for the use of any tax
increment collected in the Thomson Fund in subsequent years; and,
WHEREAS, the County is desirous of the Commission paying the costs of
the following local public improvements at the Airport which will serve and
benefit the Thomson Area in an amount not to exceed Three Million Eight
Hundred Forty -nine Thousand Dollars ($3,849,000):
a. The construction of additions or improvements to runways, ramps,
or taxiways.
b. The construction of sanitary sewer facilities serving the Airport.
3
c. Extension of water mains serving the Airport.
d. Construction, relocation, and soil remediation costs associated
with improving or relocating the fueling stations located at the
Airport.
e. The above costs shall include the costs of design, construction,
construction inspection, and payment of any matching funds for
Federal or State grants used for any of the above stated projects.
f. Reimbursement to the County of up to One Million Dollars
(S 1,000,000) of the County's purchase price for the Airport.
"the Airport Projects and,
WHEREAS, the City is desirous of the Commission paying part of the
costs of the following local public improvements which will serve, and benefit
the Thomson Area:
a. The relocation, construction, and expansion of any roadways
located within, or contiguous to, the Thomson Area;
b. The completion of Illinois Street from the Thomson Area, north to
its existing terminus between 116th Street and 111th Street
including a round -a -bout at 106th Street and Illinois Street; and
c. All land acquisition, design, construction, and construction
inspection costs related to the above.
"the Thomson Road Projects and,
WHEREAS, the Commission on the 25th day of February, 2000, passed a
Declaratory Resolution No. 2000 -1, which established the 96th Street -U.S. 421
Economic Development Area "the 96th-421 Area and
WHEREAS, the Declaratory Resolution approved the Economic
Development Plan "the 96th-421 Plan which the 96th-421 Plan contained
specific recommendations for construction of local public improvements to
enhance the economic development in the 96th-421 Area including
improvements to 96th Street; a round -a -bout at 96th Street and North Augusta
Drive; a round -a -bout at 96th Street and Shelborne Road; and the connection of
4
Commerce Drive to 96th Street, "the 2010 Project which project is presently
under construction by the County and the Commission; and,
WHEREAS, the Declaratory Resolution was confirmed by the
Commission on the 5th day of October, 2000, after the approval of the Plan by
the Carmel Plan Commission and the Hamilton County Board of
Commissioners; and,
WHEREAS, the City has annexed all of the land within the 96th -421 Area
effective the 27th day of July, 2010; and,
WHEREAS, Indiana Code 36- 7- 14 -3.5, provides that after the final date
of an annexation by a municipality, a county redevelopment commission may
not issue bonds or use tax increment to pay bond payments from allocated
property tax proceeds from an allocation area unless the legislative body of the
municipality adopts an ordinance permitting the issuance of bonds payable
from tax increment collected from the allocation area.
WHEREAS, the City and the County have recommended an Amendment
to the Plan for the 96th -421 Area to authorize the Commission to construct
additional local public improvements to include expansion and improvement of
any thoroughfare roads in western Clay Township, which roads will serve and
benefit the 96th -421 Area by providing better access to and from the 96th -421
Area. Those road improvements shall include, but not be limited to, the
following:
a. The construction of round -a -bouts at 106th and Shelborne Road;
Shelborne Road and 131st Street; Shelborne Road and 126th Street;
Shelborne Road and 121st Street; and 96th Street and Towne Road.
b. Reconstruction of Towne Road from 146th Street to 131st Street.
c. Reconstruction of Shelborne Road from 131st Street to 116th Street.
d. Reconstruction of 126th Street between Shelborne Road and Towne
Road.
5
e. Reconstruction of 146th Street from Spring Mill Road, west to the
Boone County line.
f. The above costs shall include costs of right of way, design,
construction, and construction inspection.
g.
However, nothing herein will permit the widening of any of the
above roads or thoroughfares, south of 116th Street, other than
intersection improvements, prior to January 1, 2012.
WHEREAS, the County, the City, and the Commission are desirous of
entering into an Interlocal Agreement to use the tax increment from the
Thomson Area and the 96th -421 Area to pay all, or part of, the costs of the local
public projects identified in the Thomson Plan, as amended and the 96th-421
Plan, as amended.
IT IS THEREBY AGREED by and between the City, the County, and the
Commission as follows:
Section 1. The Commission shall pay up to Two Million Dollars
($2,000,000) of the costs of the Thomson Road Projects from the Allocation
Fund for the Thomson Area.
Section 2. The City shall select such engineers, design professionals,
and appraisers as are necessary to design and construct the Thomson Road
Projects. The City shall be responsible for obtaining bids and awarding the
contracts for land acquisition, design, construction inspection, and
construction of the Thomson Road Projects. All contacts shall be assigned to
the Commission for payment up to the amounts funded through this
Agreement or any subsequent amendment. The City shall manage the
Thomson Road Projects and pay all project costs not funded by this Agreement
or any subsequent amendment.
Section 3. Claims for payment of the costs of the Thomson Road Projects
shall be approved by the City's Engineer or his designee and the Hamilton
County Engineer, or his designee.
6
Section 4. The Commission shall pay up to Three Million Eight Hundred
Forty -nine Thousand Dollars ($3,849,000) toward the cost of the Airport
Projects from the Allocation. Fund for the Thomson Area.
Section 5. The Hamilton County Airport Authority "the Airport
Authority on behalf of the County, shall select such engineers and design
professionals as are necessary to design and construct the Airport Projects. The
Airport Authority shall be responsible for receiving bids and awarding the
contracts for the design, inspection,
and construction of the Airport Projects, which contacts shall be assigned to
the Commission for payment up to the amounts funded through this
Agreement. The Airport Authority shall manage the Airport Projects and pay all
project costs not funded by this Agreement.
Section 6. Claims for payment of the costs of the Airport Projects shall
be approved by the President or Vice President of the Airport Authority after
recommendation by the project engineer designated by the Airport Authority.
Section 7. All tax increment collected from the Thomson Area after July
1, 2010, through July 1, 2020, which exceeds the principal and interest on the
2005 Bonds and 2006 Bonds shall be used by the Commission to pay the costs
of the Thomson Road Projects as designated by the City. In the event the
excess increment from the Thomson Area substantially exceeds the payments
on the 2005 Bonds and 2006 Bonds, the parties agree to cooperate to negotiate
an amendment to this Agreement to issue bonds and, or notes to fund
additional Thomson Road Projects.
Section 8. The County agrees to initiate all procedures necessary for
the Commission to issue its 2010 Redevelopment District Tax Increment Lease
Rental Revenue Bonds to be paid from tax increment from the 96 -421 Area,
"the 2010 Bonds which shall include a bond anticipation note of up to Eight
Million Three Hundred Thousand Dollars ($8,300,000). The amount of 2010
Bonds shall not to exceed Twelve Million One Hundred Fifty Thousand Dollars
7
($12,160,000) and shall be paid from semi annual bond or lease rental
payments not to exceed Six Hundred Thousand Dollars ($600,000) from
February 1, 2012, through February 1, 2029. The bond budget for the 2010
Bonds is attached as Exhibit B.
Section 9. The Projects funded by the 2010 Bond Anticipation Note are
as follows:
Project 1 126th Street Shelborne Rd. to Towne Rd. (3 -Lane
Section)
Project 2 Shelborne Road Improvements north of 116th Street
to 126th Street and a roundabout at 131St Street and
Shelborne intersection.
including construction inspection costs "the BAN Projects
Section 10. The City has selected the engineers necessary to design and
inspect the construction of the BAN Projects. The City has received bids and
awarded the contracts for the inspection and construction of the BAN Projects,
which contacts shall be assigned to the Commission upon closing of the BAN
for payment up to the amounts funded through this Agreement. The City shall
manage the BAN Projects and pay all costs of the BAN Projects not funded by
this Agreement.
Section 11. Claims for payment of the costs of the BAN Projects shall be
approved by both the City Engineer or his designee and the Hamilton County
Engineer or his designee.
Section 12. The County shall complete the design and manage the
construction of the round -a -bout project at 106th Street and Shelborne Road
(Project 3). The Project shall be bid prior to August 15, 2010.
Section 13. The County has selected the engineers to complete the
design of Project 3. The County shall award the contracts for utility relocation,
construction, and construction inspection of the 106th Shelborne round -a-
8
bout, which contacts shall be assigned to the Commission for payment up to
the amounts funded through this Agreement.
Section 14. Claims for payment of the costs of Project 3 shall be
approved by the County Engineer or his designee.
Section 15. The County agrees to initiate all procedures necessary for
the Commission to issue its 2011 Redevelopment District Tax Increment Lease
Rental Revenue Bonds, which may include the issuance of a Bond Anticipation
Note "the
2011 Bonds in an amount no greater than Twelve Million Eight Hundred Fifty
Thousand Dollars ($12,850,000) which shall be paid from semi annual bond or
lease rental payments not to exceed Six Hundred Forty -five Thousand Dollars
($645,000) from August 1, 2012 through February 1, 2028. The proceeds of
the 2011 Bonds shall be used to fund the project budget in Exhibit C.
Section 16. All tax increment collected from the 96th -421 Area after 2010
shall be irrevocably pledged to be used for payments toward the 2010 Bonds
and 2011 Bonds.
Section 17. The Projects funded by the 2011 Bonds are as follows:
Project 4 The reconstruction of Towne Road, 131St Street
to 146th Street (The Towne Road Project)
Project 5 A round -a -bout at 96th Street and Towne Road
"the 96 -Towne Round -a- Bout
Section 18. The City has selected the engineer to design and inspect the
construction of the Towne Road Project. The City shall be responsible for
receiving bids and awarding the contracts for the construction of the Towne
Road Projects, which contacts shall be assigned to the Commission for
payment up to the amounts funded through this Agreement. The City shall
manage the Towne Road Projects.
9
Section 19. Claims for payment of the costs of the 2011 Towne Road
Projects shall be approved by both the City Engineer or his designee and the
County Engineer or his designee.
Section 20. The County has selected the engineers to design and inspect
the construction of the 96t -Towne Round -a -Bout. The County shall be
responsible for acquiring right of way, receiving bids and awarding the
contracts for the construction of the 96t -Towne Round -a -Bout, which contacts
shall be assigned to the Commission for payment up to the amounts funded
through this Agreement. The County shall manage the 96t -Towne Road
round -a -bout project.
Section 21. Claims for payment of the costs of the 96t -Towne Round -a-
Bout shall be approved by the Hamilton County Engineer.
Section 22. Any excess increment from the 96th-421 Area collected after
July 1, 2010, shall be used by the Commission to pay the costs approved by
the County for land acquisition, construction, and construction inspection
costs, including the local match for State and Federal funding, for the
construction of 146th Street from Springmill Road to the Boone County line
"the West 146th Project Said costs shall be paid from excess increment
collected in the Allocation Fund for the 96th -421 Area after payment of all bond
or lease rental payments for the 2010 and 2011 BANs or Bonds, and any
payments required to be paid into the debt service reserve funds established for
the 2010 and 2011 Bonds.
Section 23. The parties acknowledge that the County is presently
designing the West 146th Street Project to prohibit, to the extent legally
permitted, road cuts onto the portion of 146th Street from Springmill Road to
the Boone County line, including the construction of access roads to serve the
existing and potential development contiguous to the West 146th Street Project.
To accomplish the goal of minimizing road cuts onto West 146th Street, the City
agrees that no road cut onto 146th Street from Springmill Road to the Boone
10
County line shall be authorized without the consent of the Board of
Commissioners of Hamilton County. The County further agrees that road cuts
onto West 146th Street shall not be permitted unless said cuts are legally
mandated or there is overwhelming public benefit which would persuade the
Board of Commissioners, in its sound discretion, to permit said road cuts.
Section 24. In the event the excess increment from the 96th-421 Area
exceeds the lease payments on the 2010 Bonds, the 2011 Bonds, and amounts
necessary to fund the West 146th Street Project, the County and the
Commission agree to use the additional increment from the 96th-421 Area to
fund such additional road projects as are described in the Amendment to the
Plan for the 96th-421 Area, as described in page five (5) above. Those projects
shall be selected based on recommendation by the City, and may be funded by
the issuance of bonds and, or notes to fund additional road projects serving
and benefiting the 96th -421 Area.
Section 25. Prior to the issuance of the 2011 Bonds or BAN, the City
agrees to pass an ordinance to pledge to the Commission the amount of up to
Four Hundred Sixty -five Thousand Dollars ($465,000) per year of the City's
distributive share of County Option Income Tax to cover any difference between
the total scheduled principal and interest on the 2010 Bonds, 2011 Bonds, and
the semi annual tax increment collected from the 96th-421 Area "the
Guarantee Payments The pledge of the Guarantee Payments shall be
irrevocable until February of 2029 or until the 2010 Bonds and 2011 Bonds
and any refunding bonds used to redeem the 2010 Bonds and 2011 Bonds, are
paid in full. Any Guarantee Payments shall be made at least two business
days prior to the payment date of the 2010 Bonds and 2011 Bonds to the
County Auditor or to the Trustee for the 2010 Bonds and 2011 Bonds and
applied to the payment of the 2010 Bonds and 2011 Bonds.
Section 26. The parties agree that in the event it is determined that
there will be financial benefit to the refunding, or the advance refunding, of the
11
2010 Bonds or 2011 Bonds, the parties shall take all steps necessary to realize
the savings by refunding the Bonds. However, any such refunding of the 2010
or 2011 Bonds shall not cause the debt service payments to be increased
above, or extended beyond, the initial terms of the 2010 Bonds or 2011 Bonds.
Section 27. In the event there are any disputes arising under this
Agreement, those disputes shall initially be discussed in a settlement
conference to be held among the following: one (1) member of the City Council
appointed by the Council; the Mayor of the City; the City Attorney; two (2)
members of the Board of Commissioners; and the County Attorney. If there is
no resolution of the dispute at the settlement conference, the dispute shall be
submitted to mediation, pursuant to the Rules of Alternative Dispute
Resolution prior to initiating litigation. In the event that the parties cannot
agree on an acceptable mediator, a mediator shall be appointed by the Judge of
the Circuit Court of Hamilton County.
Section 28. The parties agree to take all steps necessary to implement
the terms and conditions of this Agreement, including recommendations to the
Hamilton County Redevelopment Commission, to pass such resolutions or
ordinances as are necessary to issue the 2010 or 2011 Bonds and to
implement the terms and conditions of this Agreement.
ALL OF WHICH IS AGREED by and between the City of Carmel, the
Board of Commissioners of Hamilton County, the Hamilton County Council,
and the Hamilton County Redevelopment Commission on the dates set out
herein.
12
PASSED by the Common Council of the City of Carmel, Indiana this o9 t day of
2010, by a vote of to ayes and 4 nays.
Pre iding Officer
Richard L. Sharp resident Pro Tempo
V. Accetturo
Ronald E. Carter
ATTEST:
Diana L. Cordray, IAMC, "I k-Treasurer
i
Diana L. Cordray, IAMC, irk- Treasurer
COMMON COUNCIL FOR THE CITY 0
C, Griffiths
P
f
W. Eric Seide sticker
Presented by me tb .he Mayor of the City of Carmel, Indiana this ow day of
,2010,at(os3 P.M.
Diana L. Cordray, IAMC,
Clerk- Treasurer
Approved by me, Mayor of the City of Carmel, Indiana, this day of
2010, at to 5-3 P.m.
13
Gfie—
Ja es Brainard, Mayor
1 affirm, under the penalties for perjury, that nave
taken reasonable care to redact each Social Security
number a his document,unless required by law,'
Name
IN WITNESS WHEREOF, the undersigned Board of Commissioners of
Hamilton County have approved this Interlocal Agreement on the 04 day of
2010.
ATTEST:
Dawn Coverdale, Auditor
BOARD OF COMMISSIONERS OF
HAMILTO COUNTY
Steven C..Dillinger
Steven A. Holt
Christine Altman
14
This Interlocal Agreement ratified and approved by the Hamilton
County Council this _2 day of KiLw- 2010,
ATTEST:
Dawn Coverdale, Auditor
HAMILTON COUNTY COUNCIL
15
Rick McKinney
Steve Sc
d Beaver
RESOLUTION NO. RC- 06- 17 -10 -A
A RESOLUTION OF THE HAMILTON COUNTY REDEVELOPMENT
COMMISSION APPROVING AND ADOPTING INTERLOCAL AGREEMENT
WHEREAS, Indiana Code 36-1-7 authorizes cooperative endeavors between
governmental entities so as to better and more economically and efficiently serve the
public health, safety and welfare; and.
WHEREAS, Indiana Code 36 -1 -7 -2 authorizes the Redevelopment
Commission approve such "interlocal agreements;" and
WHEREAS, the "Interlocal Agreement" by and among the City of Carmel,
Indiana; Hamilton County, Indiana; and the Hamilton County Redevelopment
Commission pertaining to the use of tax increment funds from the Thomson
Consumer Electronics, Inc., Clay Township Economic Development Area and the
96 Street -U.S. 421 Economic Development Area, a copy of which is attached hereto
and incorporated herein as Exhibit A "Interlocal Agreement is in the best interests
of Hamilton County, Indiana, and its residents.
NOW, THEREFORE, BE IT RESOLVED BY THE HAMILTON COUNTY
REDEVELOPMENT COMMISSION, THAT:
Section 1. The foregoing Recitals are fully incorporated herein by this
reference.
Section 2. The Interlocal Agreement should be and is hereby approved
and adopted by the Hamilton County Redevelopment Commission.
Section 3. The Auditor is hereby directed to file a copy of the Interlocal
Agreement with the Hamilton County Recorder and State Board of Accounts within
the time periods established by Indiana Code 36- 1 -7 -6.
Section. 4. This Resolution shall be in full force and effect from and after
the date of its passage, ex -cution by the Hamilton County Redevelopment
Commission and such publi;ation as is required by law.
Adopted at a meeting of the Hamilton County Redevelopment Commission held
June 17, 2010.
Attest:
Charlotte Swain, Secretary
HAMILTON COUNTY REDEVELOPMENT
COMMISSION
Art Levine, President
William Crandall, Vice President
Charlotte Swain, Secretary
Ron Thomas, Member
l lumilton County Board of Aviation
Attn: Mike Howard Attorney For the Board
Wednesday, January 19, 2005
Re: Meridian Street Corridor Flights
Sincerely
Dan R Montgomery, Manager LEA
Indianapolis Executive Airport
The airport does not keep records of the flight destinations beyond the airport. However, the data we are providing is
based on the personal observations of our staff reviewing the data that is kept such as fueling records, flight plans, car
rental agreements and hotel reservations.
We have reviewed the Flights from 1 -1 -2004. to 12 -3 1 -2004 that purchased fuel upon arriving, 4897 flights in
total, This is approximately 10% of the annual flights the FAA records using the airport for the same period.
We previously referred business to the Wyndham Hotel at 103r and Meridian and in 2003. they reported 207
nightly bookings from IEA.
In 2004 we found that the pilots and passengers preferred the Marriott Courtyard 1-lotet also at the 103' and
Meridian, however they do not keep such records on the airport sales. They only remembered, "Those are the
guys who come weekly in the blue suits." Our counter help, report the traffic to the Marriott to be
approximately 2 per week thus we're counting 100 flights on that basis, however it's probably much greater
possibly over 200.
We have a customer who lives in Minnesota that commutes to Indianapolis and uses TEA. His primary customer
is Thompson Electronics. He chose'IEA because of the location and the 146h to Springntill access to Thompson.
Our staff also has observed many flights going to the heart center at 103r and Meridian.
We also have observed flights going to the eye surgeons at 103` and Meridian.
There were a total of 479 flights that we could correlate to the Meridian: Street Corridor.
1. 91 flights went to 96 and Meridian
2. 201 flights went to 103r and Meridian
3. 35 flights went to 100 and Meridian
4. 118 flights went to 116` and Meridian
5. 34 flights went to 131" and Meridian
We reviewed 4897 flights to arrive at these 479 flights. This personal observation and after the fact correlation is apt to be
extremely conservative, thus the flights to this area could easily be several times greater than this estimation. The data is
displayed graphically on the next page. The report the data is compiled from total some 200 pages and are available at the
airport for you review.
11329 East State Road 32
Zionsville, IN 46077
'11 7I0_!A
EXHIBIT A, P. 1
Indianapolis Executive Airport
500
450
400
350
300
250
200
150
100
50
Meridian Street Corridor Flights
96th 103rd 106th 116th 131st Total
Flights 9.1 201 35 118 34 479
11329 East State Road 32
Zionsville, IN 46077
'11 7_'7(Q_d4R7
EXHIBIT A, F. 2
EXHIBIT B
Budget for 20 Bonds and
Bond Anticipation Note
(96th Street -421 Interlocal Agreement)
2010 Bond 2011 Lease
Estimated Project Costs: Anticipation Note Rental Bonds
Construction Costs June 2010 September 2010
Project #1 126th Street.. $2,693,658
Project #2 Shelborne Road 5,322,933
Project #3 106th
Shelborne Road $2,002,000
Bond Anticipation Note Redemption 8,216,591
BAN Interest
Debt Service Reserve
Capitalized Interest 267,877
Allowance for Underwriter's Discount.
125,000
1,211,608
40,000 156,813
Bond Issuance Costs and
Contingencies 160,000 153,702
Total Estimated Project Costs $8,216,591 $12,133,591
Estimated. Project Costs: 2011 Lease Rental Bonds
Construction Costs:
Project #4 Town Road Paving
Project #5 96th and Towne
Contingencies
Total Estimated Project Costs
Less Carmel Contribution
Bond Costs
EXHIBIT C
BUDGET FOR 2011 BONDS
96TH -421 Interlocal Agreement
4,413,000
6,667,196
Debt Service Reserve 1,270,500
Capitalized Interest 525,626
Allowance for Underwriter's Discount 158,813
Bond Issuance Costs and
152,061
$13,187,196
475,000
$12,712,196
RESOLUTION NO. 06- 02 -10 -4
A RESOLUTION OF THE HAMILTON COUNTY COUNCIL
APPROVING AND ADOPTING INTERLOCAL AGREEMENT
WHEREAS, Indiana Code 36 -I -7 authorizes cooperative endeavors between
governmental entities so as to better and more economically and efficiently serve the public
health, safety and welfare; and
WHEREAS, Indiana Code 36- 1 -7 -4 authorizes the Hamilton County Council to approve
such interlocal agreements;" and
WHEREAS, the Interlocal Agreement by and among the City of Carmel, Indiana;
Hamilton County, Indiana; and the Hamilton County Redevelopment Commission pertaining to
the use of tax increment funds from the Thomson Consumer Electronics, Inc., Economic
Development Area and the 96' Street=U.S. 421 Economic Development Area, a copy of which is
attached hereto and incoiporated herein as Exhibit A "Interlocal Agreement"), is in the best
interests of Hamilton County, Indiana, and its residents.
NOW, THEREFORE BE IT RESOLVED BY THE HAMILTON COUNTY COUNCIL,
THAT:
Section 1. The foregoing Recitals are fully incorporated herein by this reference.
Section 2. The Interlocal Agreement should be and is hereby approved and adopted
by the Hamilton County Council.
Section 3. The Auditor is hereby directed to file a copy of the Interlocal
Agreement with the Hamilton County Recorder and State Board of
Accounts within the time periods established by Indiana Code 36- 1 -7 -6.
Section 4. This Resolution shall be in full force and effect from and after the date of
its passage.
2010.
ATTEST:
ALL OF WHICH IS RESOLVED by the Hamilton County Council, this 2 n° day of June,
a k- r\ Cats-Lit
Dawn. Coverdale, Auditor
HAMILTON COUNTY COUNCIL
Rick McKinney
Construction Year 2005
Construction Costs $2734,700
2012 Projects
2013 Projects
2014 Projects
7760 ShIADELAND STATC114
171131/... IN 462563457
I EL 3 .7 SSW riLa 3173110170
2012 Anticipated Construction
Approximate Cost 55 million
2014 Anticipated Construction
Approximate Cost 55 million
2013 Anticipated Construction
Approximate Cost 55 million
MI HIGAN ROAD T'IF DISTRICT MAP
LEGEND
(20.1:1
(2011)
$10,405,452
$10,706,000
(2006 -2009)
COMPLETE
EXISTING MICHIGAN ROAD
TIF BOUNDARY
0 SCALD
CROSSRDA
ENIiINEER5, PC
W 146TH ST
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MI HIGAN ROAD T'IF DISTRICT MAP
LEGEND
(20.1:1
(2011)
$10,405,452
$10,706,000
(2006 -2009)
COMPLETE
EXISTING MICHIGAN ROAD
TIF BOUNDARY
0 SCALD
CROSSRDA
ENIiINEER5, PC
No.
Project Description and Limits
Construction
Costs Remaining
Right -of -way and
mist utility Costs
Remaining
Design
Remaining
Inspection
Remaining
Total
I Estimated
I Remaining
Project Cost
Earliest Let
Date
Project
Cumulative Total
Comments
1
126th Street Shelborne Rd. to Towne Rd. (3 Lane Section)
#1
$2,393 ;6581
$0
$30010001
$2,693.658
2010 February
$2,693',658
2
Shelburne Road Improvements north of 116th Street to
126th Street and a roundabout at 131st Street and Shelborne
intersection.
$4;622,933
$103500
$600,0001
I
$5,326,433
2010 February
$8,020,091
3
106th Street and Shelburne Road Roundabout.
I
$11,102,000'
$600,000
$1111 „165■ I
$198;0001
$2;011,165
August -10
$10,031,256
4
Towne Road. 131st Street to 146th Street.
$3,800,000
1, $110,000
$50;0Q01
$453,000
$4,413,000
2011 January
$14,444,256
5
96th Street and Towne Road Roundabout.
$3,954,000
$2,050,000
$21'4;1981 1
$449 ;000
1 $6,667,196
2011 January
$21,,111,452
provided by Hamilton County
Estimated
Low bid received by Hamilton County or City of Carmel
MICHIGAN ROAD
TIF PROPOSED AMOUNT
2010 Total Estimated ex pens $10,405,452
2011 Tata, Estimated expenm_ $10,706,000
TOTAL $21,111,452
Debt Obligations
Proposed Proposed Proposed Estimated
Year of Estimated 2010 Bond Lease Rental Lease Rental Annual TIF Carmel COIT
Revenue Tax Increment Anticipation Notes Bonds of 2010 Bonds of 2011 Total Remaining Coverage Pledge
(1) (2) (3) (4) (5)
2010 $2,398,700
2011 2,400,630
2012 2,507,220
2013 2,851,590
2014 3,193,930
2015 3,536,280
2016 3,536,280
2017 3,536,280
2018 3,536,280
2019 3,536,280
2020 3,536,280
2021 3,536,280
2022 3,536,280
2023 3,536,280
2024 3,536,280
2025 3,536,280
2026 3,536,280
2027 3,536,280
2028 3,536,280
HAMILTON COUNTY REDEVELOPMENT
Road Improvement Projects
COMPARISON OF DEBT SERVICE OBLIGATIONS AND ESTIMATED TAX INCREMENT
$42,328
$0 $42,328 $2,356,372 5667% $0
744,000 $0 744,000 1,656,630 323% 0
865,000 642,000 1,507,000 1,000,220 166% 0
983,000 865,000 1,848,000 1,003,590 154% 105,210
1,091,000 1,101,000 2,192,000 1,001,930 146% 313,270
1,203,000 1,158,000 2,361,000 1,175,280 150% 241,320
1,200,000 1,160,000 2,360,000 1,176,280 150% 239,720
1,199,000 1,160,000 2,359,000 1,177,280 150% 238,120
1,200,000 1,162,000 2,362,000 1,174,280 150% 242,920
1,199,000 1,161,000 2,360,000 1,176,280 150% 239,720
1,204,000 1,161,000 2,365,000 1,171,280 150% 247,720
1,205,000 1,163,000 2,368,000 1,168,280 149% 252,520
1,203,000 1,161,000 2,364,000 1,172,280 150% 246,120
1,198,000 1,161,000 2,359,000 1,177,280 150% 238,120
1,199,000 1,162,000 2,361,000 1,175,280 150% 241,320
1,203,000 1,159,000 2,362,000 1,174,280 150% 242,920
1,197,000 1,162,000 2,359,000 1,177,280 150% 238,120
1,197,000 1,160,000 2,357,000 1,179,280 150% 234,920
1,202,000 1,159,000 2,361,000 1,175,280 150% 241,320
Totals $62,859,990 $42,328 $20,492,000 $18,857,000 $39,391,328 $23,468,662 $3,803,360
(1) See page 6.
(2) See page 3.
(3) See page 4.
(4) See page 5.
(5) Per an Interlocal Agreement, the City of Carmel will pledge COLT to the extent needed to secure 160% coverage on the debt obligations.
(Subject to the attached letter dated April 5, 2010)
(Preliminary Subject to Change)
(For Internal Use Only)
6