Jul 20, 2022 Carmel Redevelopment Commission

[00:00:07]

>> GOOD AFTERNOON, LADIES AND GENTLEMEN, WELCOME TO OUR REGULAR MONTHLY MEETING OF THE CARMEL REDEVELOPMENT

[1. PLEDGE OF ALLEGIANCE]

>> I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA, AND TO THE REPUBLIC FOR WHICH IT STANDS, ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND

JUSTICE FOR ALL. >> THANK YOU VERY MUCH.

OUR FIRST AGENDA ITEM THIS EVENING IS THE AFTER THE

[2. APPROVAL OF MINUTES]

ADDITIONS TO THE MINUTES? >> MR. PRESS, JUST A MINOR, CORRECTION, IT'S A DATE THING AT THE TOP OF THE MINUTES. IT SHOWS C. R. C. MEETING JUNE 15 THEN CARMEL REDEVELOPMENT THURSDAY MAY 26. WE WANT TO EDIT THE DATE TO

JUNE 15. >> THANK YOU, COMMISSIONER BROOKS, I AGREE. WOULD YOU CARE TO OFFER AN

AMENDMENT -- >> YES, I PROPOSE TO AMEND THE MINUTES BY SHOWING THE CORRECT DATE AT THE TOP OF JUNE 15TH INSTEAD OF THURSDAY, MAY 26.

>> THANK YOU VERY MUCH. IS THERE A SECOND?

>> SECOND. >> AMENDMENT, THE MINUTES AS AMENDED? I THINK I HEARD A SECOND SO IF WE CAN, IF WE WOULD PLEASE CALL THE ROLL.

>> THANK YOU. WE'LL MOVE ON TO THE APPROVAL OF THE MINUTES OF OUR SPECIAL MEETING OF JULY 14. ARE THERE ANY CORRECTIONS OR ADDITIONS TO THOSE MINUTES? HAS IT HAS BEEN MOVED AND

SECONDED I BELIEVE. >> MOVE TO APPROVE.

>> OKAY. IS THERE A SECOND?

>> SECOND. >> SECOND.

>> THANK YOU VERY MUCH. WOULD YOU, TARA, WOULD YOU PLEASE CALL THE ROLL.

[7j. Action Item #9 – Award Tarkington repair contract]

>> BEFORE WE MOVE TO OUR NEXT AGENDA ITEM, LET'S SEE.

I BELIEVE THAT WE HAVE ON OUR AGENDA UNDER NEW BUSINESS ACTION ITEM NUMBER 9.

I WOULD LIKE, I WOULD PROPOSE WE MOVE THIS UP AT THIS POINT. IS THERE ANYONE, AN OBSERVATION TO MOVING THIS UP TO OUR NEXT AGENDA ITEM? HEARING NONE WE'LL -- HEARING NONE WE'LL MOVE ITEM 9 WHICH IS THE AWARD OF THE TARKINGTON REPAIR CONTRACT

UP AND SO MR. DIRECTOR. >> DEPUTY DIRECTOR FAIRMAN IS GOING TO ADDRESS THAT ISSUE, MR. PRESIDENT.

>> YES, THANK YOU, MADAM ASSISTANT DEPUTY

DIRECTEDDOR. >> THANK YOU, LAST THURSDAY, JULY 14, THE C. R. C. HAD A SPECIAL MEETING TO OPEN BIDS FOR THE TARKINGTON GARAGE REPAIR PROJECT.

THERE WERE FOUR BIDS THAT WERE SUBMITTED AND OPENED AT THAT MEETING. WE HAVE REVIEWED THE BIDS AND WE'VE TAKEN ADVICE FROM W. J. E.

OUR ENGINEER OF RECORD AND FROM OUR COUNCIL -- COUNSEL AND WE'LL COME TO YOU WITH A RECOLLECTION.

I WANT TO GIVE A BRIEF REVIEW OF HOW WE'VE COME TO OUR SELECTION. THE LOW BIDDER WAS ADVANCED RESTORATION CONTRACTORS. THEY DID SEND US A REQUEST TO WITHDRAW THEIR BID DUE TO A MATH MATHS CAL CLERICAL ERROR AND AFTER REVIEW BETWEEN OUR COUNSEL AND THEIR COUNSEL, WE DID HONOR THE REQUEST TO WITHDRAW THE BID FOR THEIR CLERICAL ERROR.

[00:05:02]

THEY WERE NOT ABLE TO MEET THE PROJECT SCHEDULE AND THEY WERE ALSO MISSING SOME DOCUMENTATION AND ALSO INCLUDED NO ALLOW ANSWER FOR OPENER CONTINGENCY WITHIN THEIR BUDGET SO WE'VE FEIGN THE ADVICE TO PROPOSE AN AWARD TO BROWNING CHAPMAN FOR THE TARKINGTON GARAGE REPAIRS IN AMOUNT OF $1,099,775.

THIS WOULD BE PAYABLE FROM THE 2021 TIF FUND AND THE 902 FUND. I DO WANT TO CLARIFY THAT AMOUNT INCLUDES A CORRECTION.

THEY ALSO HAD A MINOR MATH MATH CAL ERROR WITHIN THEIR CALCULATIONS AND THE NUMBER DOES REFLECT THAT.

THEIR ORIGINAL BID WOULD HAVE BEEN THE THIRD LOWEST BIDDER. BEFORE WE ASK FOR A VOTE, ARE THERE ANY QUESTIONS EITHER FOR MYSELF OR ANY CLARIFICATIONS THAT YOU WOULD LIKE TO ASK OF MIKE

DRURY? >> COMMISSIONERS, ANY

QUESTIONS FOR MS. FAIRMAN. >> EVERYONE IS SHAKING THEIR

HEAD NO, MR. PRESIDENT. >> THANK YOU.

WITH THAT, THEN IF IT IS YOUR PLEASURE, LADIES AND GENTLEMEN, THE CHAIR WOULD ENTERTAIN A MOTION OF

APPROVAL. >> MOVE TO APPROVE.

>> THANK YOU, COMMISSIONER BROOKS, IS THERE A SECOND?

>> SECOND THE MOTION. >> THANK YOU, COMMISSIONER.

WOULD YOU -- TARA, PLEASE CALL THE ROLL.

>> THANK YOU VERY MUCH. WITH THAT WE'LL NOW MOVE

[3a. Cash Flow Report]

MR. LEE, IF YOU WOULD. >> MR. PRESIDENT, YOU MAY HAVE SKIPPED OVER THE EXECUTIVE DIRECTOR REPORT.

I'M HAPPY TO DO THAT AFTER THE COMMISSION REPORT.

COMMITTEE REPORTS. >> MY AGENDA SHOWS THE FINANCIAL REPORT THEN YOUR REPORT, MR. DIRECTOR.

>> I APOLOGIZE. OKAY.

BACK TO MIKE LEE. >> MIKE, IF YOU WOULD

PLEASE. >> CERTAINLY.

THE COMMISSION'S END OF MONTH BALANCE FOR JUNE WAS 6,654,519. INCLUDING THE RESTRICTED

FUNDS IT WAS 15,4991,938. >> THANK YOU, MR. LEE, ANY QUESTIONS REGARDING THE CASH FLOW REPORT?

[3b. Approval of Claims]

APPROVAL OF CLAIMS. >> WE HAVE THREE SETS OF CLAIMS FOR YOU TONIGHT. THE FIRST IS FOR NONOPERATING EXPENSES IN THE AMOUNT OF $91,102.

24. THE SECOND IS FOR 2021 BONDS IN THE AMOUNT OF 1,117,054 .23 AND FINALLY, THE 2021 TIF FUND CLAIMS IN THE AMOUNT OF $263,381 .42.

LET ME KNOW IF YOU HAVE ANY QUESTIONS.

>> THANK YOU, MR. LEE. ANY QUESTIONS OF MR. LEE? COMMISSIONERS? SEEING NONE IF IT'S YOUR --

EXCUSE ME. >> MOVE TO APPROVE.

>> THANK YOU. IS THERE A SECOND.

>> SECOND. >> BEEN MOVED AND SECONDED.

TARA, PLEASE CALL THE ROLL.

>> APPROVED. >> VERY GOOD.

[4. EXECUTIVE DIRECTOR REPORT]

NOW WE'LL MOVE ON TO THE EXECUTIVE DIRECTOR'S REPORT.

MR. DIRECTOR. >> GOOD EVENING, COMMISSIONERS. I THINK I COUNTED 6 CRANES UP IN THE AIR AT THE SAME TIME BETWEEN THE LAST FEW DAYS. THERE ARE A LOT OF PROJECTS GOING ON. LOTS OF CONSTRUCTION.

SO -- LET'S FLY THROUGH IT. PIPER HOLLAND IS ALMOST DONE. THE REN IS UNDER CONSTRUCTION NOW. THEY'VE GOT THE PLACE FOR THE UNDERGROUND PARKING DUG FOR THE WINDSOR.

>> WAITING FOR STEEL SO IT'S NICE TO SEE BOTH OF THE TWO

[00:10:05]

LOTS OF ACTIVITY ON THAT SITE.

IT'S NICE TO SEE ARCHITECTURE TAKING SHAPE FOR THE TOWN HOLMES. FIRST ON MAIN ACTIVITY ON THE SITE IS BUZZING. WE SHOULD HEAR SOME ANNOUNCEMENTS ABOUT HEADQUARTERS MOVING IN SOMETIME SOON THERE. MAGNOLIA CONTINUES ITS PROGRESS. IT'S NICE TO SEE THE, IT'S NICE TO SEE FOUR-STORY BUILDINGS ON THE EAST SIDE OF RANGELINE IN THE CITY CENTER AREA.

GIVES US A GOOD SCALE AROUND THE ROUNDABOUT.

LOTS OF PROGRESS GOING ON AT THE CORNER OF 116 AND REIGNLINE FROM THE STAND-POINT OF THE DEVELOPER AND THE GREAT JOB THAT THE CITY ENGINEERING DEPARTMENT IS DOING BUILDING OUT 116TH STREET.

GOING TO SPRAYS A LOT OF PEOPLE NEXT TIME THEY GO TO THE INTERSECTION AND SEE WHAT HAS BEEN TRANSPIRING.

SIGNATURE PROJECT IS FLYING. IT'S COOL TO SEE THE TOWERS TAKING SHAPE THAT ARE GOING TO FORM THAT ARCHITECTURAL ELEMENT OF THAT PROJECT. LOTS OF ACTIVITY THERE AND THE ROAD IS NOW OPEN. IN CASE YOU HAD TROUBLE GETTING THROUGH MAIN STREET THERE IN THE LAST 3 WEEKS OR SO. CIVIC SQUARE PARKING GARAGE

IS NOW OPEN. >> WOW.

>> IF YOU ARE WONDERING IF THIS WAS INDEED THE SHORTEST BUILD PERIOD FOR ANY GARAGE IN THE HISTORY OF THE WORLD, THAT IS CORRECT. THAT IS THE FASTEST GARAGE THAT HAS EVER BEEN BUILT. YOU CAN SEE THE ART APPROVED BY THE ART REVIEW AND CHARGE THINKS.

FEEL FREE TO COME AND PORK IN THE DAMAGE.

YOU WILL KNOW THERE IS AVAILABLE PARKING SPACES, IF THERE IS NO AVAILABLE PARKING SPACE IN THE GARAGE IT WILL BE RED. SAVE YOU SECONDS OF TIME.

CONSTRUCTION CONTINUES ON HAMILTON CROSSING, ON PROSCENIUM TWO. YOU MAY HAVE NOTICED THE FORMER SITE HAS BEEN DEMOLISHED AND THAT PROJECT IS MOVING AHEAD AND DESIGN CONTINUES FOR THE HISTORICAL SOCIETY TEAMWORK PROJECT BETWEEN THE REDEVELOPMENT COMMISSION AND THE TOWNSHIP. AND WITH THAT, I'M HAPPY TO ANSWER ANY QUESTIONS THAT THE COMMISSION MAY HAVE.

>> QUESTIONS, COMMISSIONERS? >> OKAY.

THANK YOU, THAT CONCLUSION MY DIRECTOR'S REPORT.

>> THANK YOU, MR. DIRECTOR. WITH THAT WE'LL MOVE ON TO

[5a. Finance Committee]

MR. DIRECTOR, LAST MONTH WE ASKED THE STAFF TO TAKE A LOOK AT THE FINANCE COMMITTEE AND ITS FUNCTIONS, MAKE A RECOMMENDS AS TO HOW BEST TO MOVE FORWARD.

DO YOU HAVE, YOU OR MR. LEE HAVE A REPORT ON THAT MATTER

FOR US? >> YES, I WOULD LIKE TO ASK OUR FINANCIAL MANAGER MIKE LEE WHO HAS BEEN HERE FROM THE BEGINNING TO PROVIDE THE REPORT THAT WAS ASKED FOR AT THE LAST MEETING AND I'LL, AT TIMES SUPPLEMENT HIS REPORT. BUT HE IS GOING TO TAKE THE

LEAD ON IT. >> VERY GOOD.

MR. LEE? >> THANK YOU.

SO A LITTLE BIT OF BACKGROUND HERE, IN LATE 2010, DUE TO CONCERNS ABOUT THE CITY'S -- [INAUDIBLE] C. R. C. ELECTED TO APPOINT -- LONDON WHITE GROUP THEN BEGAN REVIEWING FINANCES AND THE REPORTS TO THE COMMISSION AT MONTHLY MEETINGS. AT THIS TIME THE COMMISSION HAD NUMEROUS DEBT INSTRUMENTS INSTALLING MULTIPLE INSTALLMENT PURCHASES CONTRACTS REGARDING TARKINGTON, PALLADIUM AND WE ALSO HAD MORTGAGES FOR PROPERTIES. THERE WAS QUITE A LOT TO KEEP TRACK. THERE WAS MINIMAL REPORTING BEING DONE BESIDES BASIC FORECASTING.

SO IN 2011, VICE PRESIDENT DAVID BOWERS WAS APPOINTED BY THE COUNCIL THEN THE COMMISSION WITH THE HELP OF DAVID BOWERS CREATED THE FINANCE COMMITTEE IN ORDER TO PROVIDE MORE OVERSIGHT AND STANDARDIZED REPORTING.

THE COMMITTEE CONTINUED TO MEET REGULARLY TO REVIEW AND UPDATE THE PARTS OF THE FINANCE PACKET.

MANY PAGES OF THE MONTHLY FINANCE PACKET WERE TEMPLATES CREATED BY WINNIE GROUP INITIALLY.

AS INTEREST RATES FELL IN 2011 AND 2012, THE COMMITTEE STARTED DOWN THE PATH OF REFINANCING ALL THE OUTSTANDING DEBT THAT HAD HIGH OR VARIABLE INTEREST RATES. THE COMMITTEE ALONG WITH WITTY GROUP AND OUR MUNICIPAL ADVISOR WAS UMBAH AND CITY COUNCILS REVIEWED OUR FINANCES AND PLAN OUT REFINANCING WHICH TOOK PLACE IN LATE 2012.

[00:15:01]

SOME EXAMPLES OF WHERE WE'RE AT NOW, WHILE I PREVIOUSLY WAS OFFICE MANAGER FOR THE C. R. C. AT THE TIME I STILL DID SOME FINANCIAL FUNCTIONS BUT THAT EVOLVED.

NOW I'M A FULL PLEDGED FINANCE MANAGER AND WE'RE STAFF ACCOUNTANT LEVEL SUPPORT HERE AT THE C. R. C.

AS WELL. I WOULD LIKE TO ADD FOR OUR EXECUTIVE DIRECTOR, MET -- HENRY MESTETSKY, OUR PREVIOUS DIRECTORS HAD BACKGROUNDS IN ARCHITECTURE.

THEIR FORTE WAS IN ARCHITECTURE.

DIRECTOR HENRY MESTETSKY HAS A BACKGROUND IN ACCOUNTING AND FINANCE. C. R. C. GENERATES A SOPHISTICATED PONTLY 16 PAGE REPORT.

THIS INCLUDES TRACKING OF ALL OF THE OVERSTANDING CONTRACTS, BONDS AND OBLIGATIONS, HAS AN INCOME STATEMENT AND TIF COLLECTIONS AND DISBURSEMENTS BY ALLOCATION. THE C. R. C. VOTES ON A BUDGET EACH YEAR, EACH YEAR END AND SOMETIMES MID WAY POINT AS WELL. THE CREATION OF THE BUDGET IS AN ONGOING PROCESS. DIRECTOR MIDWESTETS SKI AND I MEET TO DISCUSS ALL BUDGET ISSUES AND THE BUDGET IS HEAVILY DISCUSSED IN PUBLIC MEETINGS AHEAD OF FORMAL VOTES. THE C. R. C. STAFF GENERATES 100+ PAGE TIF MANAGEMENT REPORT AND THE REPORT IS SHARED WITH CITY COUNCIL AND UPLOADED TO GATEWAY MANAGED BY THE INDIANA DEPARTMENT OF LOCAL FINANCE.

THEY ALSO GENERATE AN ANNUAL 100 PAGE+ TIF REPORT WHICH FOCUSES ON THE FORWARD LOOKING FINANCIAL OUTLOOK OF THE COMMISSION AND THAT REPORT IS SHARED WITH VARIOUS EXTERNAL USERS. THE FINANCIALS ARE AUDITED BY THE STATE OF INDIANA AND THIS MONTH THE CITY AND THE C. R. C. RECEIVED A CLEAN REPORT WITH NO CORRECTIVE ACTION NEEDED. THE ELECTED CLERK TREASURER POSITION NO LONGER EXISTS. NOW THAT PUNKS IS HANDLED BY -- FUNCTION IS PANELLED BY A PROFESSIONAL CONTROLLER AND HENRY MESTETSKY AND BENJAMIN AND MYSELF WORK TOGETHER ON TRACKING AND REPORTING ISSUES.

THE FINANCE COMMITTEE WAS VERY HELPFUL DURING THE EARLIER YEARS AND SERVED ITS PURPOSE BUT SOPHISTICATION AND THE C. R. C.'S FINANCIAL FUNCTIONS HAVE GRAYLY EVOLVED. -- GREATLY EVOLVED.

IT'S OUR RECOMMENDATION TO DISBAND THE FORMAL FINANCE

COMMITTEE AT THIS TIME. >> MY ONLY ADDITION WAS JUST TO MAKE SURE EVERYONE UNDERSTOOD THOSE ARE TWO DIFFERENT HUNDRED PAGE ANNUAL REPORTS THAT THE C.

R. C. PUTS OUT. >> THANK YOU, MR. DIRECTOR.

AND MR. LEE, THANK YOU VERY MUCH FOR YOUR INPUT.

COMMISSIONERS, ANY COMMENTS OR THOUGHTS UPON THE RECOMMENDATIONS? MR. BOWERS.

>> I'LL JUST ADD A COUPLE OF THINGS BECAUSE I THINK EVERYTHING THAT I HAD WRITTEN DOWN MIKE HAS ALREADY SAID. AND I THINK THAT'S VERY, VERY IMPORTANT IS THE EVOLUTION OF THE LAST 11 OR 12 YEARS IN THE FINANCIAL REPORTING.

THIS PACKET HAS A LOT OF DETAIL THAT WE ALL HAVE ACCESS TO AND WE CAN ALL ASK QUESTIONS OF.

I DID TALK WITH BILL ABOUT THIS BRIEFLY.

I TALKED TO HENRY AND MIKE AND I ALSO CALLED KEVIN RYDER, PRESIDENT OF THE CITY COUNCIL, JUST TO MAKE SURE THAT THERE WASN'T SOMETHING FROM THE CITY COUNCIL'S STAND-POINT AND HE WAS FINE WITH BASICALLY EVERYTHING WE'VE TALKED ABOUT AND THE REPORTING THAT'S GOING ON.

SO I WOULD 100% AGREE. I THINK IT, WE'VE GOT ALL THE INFORMATION WE NEED AS THE COMMISSIONERS, AND HAVING A MONTHLY MEETING OVER THE LAST 12 MONTHS, 18 MONTHS, GOSH, I MEAN IT'S REALLY THE SEMI ANNUAL REVIEW OF THE BUDGET AND THE REVIEW OF THE NEW BUDGET SO I THINK IT MAKES A LOT OF SENSE.

>> THANK YOU, COMMISSIONER BOWERS.

OTHER COMMISSIONERS, ANY THOUGHTS OR INPUT? HEARING NONE, IF, LET'S SEE. I GUESS A RESOLUTION TO ADOPT THE RECOMMENDATION TO THE STAFF WOULD BE APPROPRIATE AT THIS POINT. IF THAT IS YOUR PLEASURE.

[00:20:04]

>> THERE'S NOT A FORMAL ACTION ITEM BUT THROUGH VOICE VOTE YOU CAN SAY I PROPOSE -- I MAKE A MOTION

TO ADOPT THE -- >> I WOULD MAKE A MOTION TO ADOPT THE STAFF RECOMMENDATION TO ELIMINATE THE NEED FOR THE MONTHLY FINANCE COMMITTEE MEETING.

>> THANK YOU. >> TO CLARIFY, STAFF'S RECOMMENDATION TO HAVE, TO TERMINATE THE FINANCE COMMITTEE ENTIRELY, NOT JUST CERTAIN MEETINGS BUT TO NO LONGER HAVE A FINANCE COMMITTEE.

>> AGREED. >> IS THERE A SECOND TO

COMMISSIONER BOWERS'? >> SECOND.

>> IT HAS BEEN MOVED AND SECONDED.

THANK YOU VERY MUCH. ALL IN FAVOR SAY AYE?

[5b. Architectural Review Committee]

SO WITH THAT WE'LL NOW MOVE AHEAD TO COMMISSIONER BROOKS AND YOUR REPORT FROM THE ARCHITECTURAL COMMITTEE.

>> THANK YOU, MR. PRESIDENT. WE ACTUALLY HAD TWO MEETINGS SINCE THE LAST C. R. C. THE FIRST ONE WAS THE DAY AFTER THE LAST C. R. C. AND WAS FOR THE MONTH OF JUNE.

IN THAT MEETING WE REVIEWED THE OLD MERIDIAN CROSS DEVELOPMENT, THE SITE AND BUILDING PLANS AND ELEVATIONS AS WELL AS THE PURE DEVELOPMENT HEADQUARTERS AND FAMILY OFFICE AT THE AT&T SITE, THEIR SITE PLANS AND BUILDING PLANS AND ELEVATIONS. WE MOVE TO APPROVE AND WE DID APPROVE THE ARCHITECTURE AND SITE PLANNINGS BASED UPON SOME MINOR DETAILS AND ACTIVITIES THAT WE WISHED THE DEVELOPERS TO RESOLVE BEFORE THEY PROCEEDED.

AND AS I UNDERSTAND, THAT HAS BEEN ACCOMPLISHED.

SO THAT WAS THE FIRST MEETING.

THE SECOND MEETING WAS ACTUALLY JUST TODAY, PUBLIC MEETING BEFORE THIS MEETING. AND THIS IS WHERE WE REVIEWED THE OLD MERIDIAN AND MAIN PROJECT, BUILDING PLANS AND ELEVATIONS AND THE SITE PLANS AND THEY WERE APPROVED BASED UPON -- SORRY, PENDING THE RESOLUTION OF THE NOTES AND THINGS THAT THE DEVELOPERS HAD TO PROCEED WITH. SO WITH THAT WE HAD TWO

MEETINGS. >> THANK YOU, COMMISSIONER BROOKS. WELL, WITH THAT, IS THERE ANY OLD BUSINESS TO COME BEFORE US THIS EVENING?

>> THERE IS NOT, MR. PRESIDENT.

[7a. Public Hearing for Old Meridian Apartments confirmatory resolution]

>> THANK YOU. WE'LL MOVE ON TO NEW BUSINESS. OUR FIRST ITEM IS A PUBLIC HEARING ON THE OLD MERIDIAN APARTMENTS.

SO I WOULD LIKE TO NOW DECLARE THE PUBLIC HEARING IN JUST A MOMENT TO BE OPEN. THIS IS ONE OF THE STEPS THAT IS REQUIRED BY INDIANA LAW, WE'VE THE FIRST STEP IS THE DECLARE TORE RESOLUTION. STEP 2 IS A RECOMMENDATION FROM THE PLANNING COMMISSION, STEP 3 A RECOMMENDATION FROM THE CITY COUNCIL AND THEN IT COMES BACKS HERE FOR A PUBLIC HEARING.

SO I WOULD NOW LIKE TO DECLARE THE PUBLIC HEARING TO BE OPEN. IS THERE ANYONE THAT WOULD LIKE TO SPEAK IN SUPPORT OF THE PROPOSED CONFIRM CONFIRMATORY RESOLUTION FOR THE OLD MERIDIAN APARTMENTS? SEEING NONE IS THERE ANYONE THAT WOULD LIKE TO SPEAK IN OPPOSITION? SEEING NONE, I WOULD DECLARE THE PUBLIC HEARING TO BE CLOSED.

[7b. Action Item #1 – Resolution 2022-14 re: Confirmatory Resolution for Old Meridian Apartments]

>> WITH THIS ASPECT PROOF OF THE CONFIRMATORY RESOLUTION AS REFERENCED, AS YOU CAN SEE ON THE SCREEN RIGHT NOW, THIS IS THE AREA WHERE THE ALLOCATION AREA WILL BE

CREATED. >> THANK YOU, MR. LEE.

ANY FURTHER QUESTIONS FROM THE COMMISSION AT THIS

POINT? >> MR. PRESIDENT, JUST FOR CLARIFICATION, SO WE VOTED ON THIS OR ESTABLISHED IT

[00:25:06]

US, IS THAT CORRECT? >> THAT'S CORRECT.

I BELIEVE IT WENT THROUGH THE PLANNING COMMISSION AS WELL. THAT'S ONE THE STEPS.

>> JUST KIND OF IF ANYONE IS PAYING ATTENTION, THIS HAS GONE THROUGH AN ENTIRE REVIEW PROCESS.

I HAVE NO FURTHER QUESTIONS. AND WOULD MAKE A MOTION TO

APPROVE. >> THANK YOU, COMMISSIONER WORRELL. IS THERE A SECOND?

>> SECOND. >> IT HAS BEEN MOVED AND SECONDED. TARA, PLEASE CALL THE ROLL.

[7c. Action Item #2 – Resolution 2022-15 re: Old Meridian Apartments TIF Pledge]

>> THANK YOU VERY MUCH. WE'LL NOW MOVE ON TO OUR NEXT ITEM WHICH IS -- TRY TO FIND IT HERE.

APOLOGIZE. ACTION ITEM NUMBER 3 --

>> NUMBER 2. >> EXCUSE ME, NUMBER 2, I'M SORRY, PUBLIC HEARING WAS -- DIDN'T HAVE AN ACTION ITEM NUMBER. THIS IS RESOLUTION 2022-15, AND THIS WAS FOR THE PLEDGE OF TIF GENERATED REVENUES FROM THE OLDTOWN APARTMENT ALLOCATION AREA TOWARDS BONDS THAT WILL SUPPORT THE OLD MERIDIAN APARTMENTS PROJECT. MR. LEE OR MR. HENRY MESTETSKY DO YOU HAVE ANY COMMENTS?

>> THE ONLY THING TO MENTION THIS IS A 75/25 SPLIT, 75% OF THE TIF FROM THE PROJECT THAT WILL BE GENERATED WILL BE GOING TO THE REPAYMENT OF THE BONDS FOR THIS.

THIS IS THE SAME ALLOCATION AREA WE JUST APPROVED.

>> EXCELLENT. IS THIS ANTICIPATED TO BE A

DEVELOPER BACKED BOND? >> YES.

>> THANK YOU, MR. LEE. QUESTIONS, COMMISSIONERS, FOR MR. LEE? HEARING NONE, IF IT'S THE PLEASURE OF THE COMMISSION THE CHAIR WILL ENTERTAIN A

MOTION OF APPROVAL. >> MOTION TO APPROVE

RESOLUTION 20-22-15. >> THANK YOU, COMMISSIONER

BROOKS, IS THERE A SECOND? >> SECOND.

>> THANK YOU, COMMISSIONER. TARA, PLEASE CALL THE ROLL.

>> THANK YOU VERY MUCH. WE'LL NOW MOVE ON TO OUR

[7d. Action Item #3 – Resolution 2022-16 re: Old Meridian Apartments project terms]

ONCE AGAIN WITH THE OLD MERIDIAN APARTMENTS PROJECT.

THIS IS THE APPROVAL OF THE TERMS OF THE OLD MERIDIAN PROJECT. ONCE AGAIN, MR. LEE.

>> I'LL TAKE THIS ONE, MR. PRESIDENT.

SO -- >> THANK YOU.

>> WE'RE JUST TRYING TO BE, TRYING TO EXERCISE EFFICIENT GOVERNMENT HERE. SO WE'VE CREATED AN ALLOCATION AREA. WE APPROVED THE TIF PLEDGE AND THIS THIRD ITEM IS TO APPROVE THE TERMS THAT WILL THEN MATCH THE PROJECT AGREEMENT.

THERE ARE OUTSIDE COUNSEL IS WORKING ON.

THIS IS A, THIS IS A PROJECT THAT CITY COUNCIL HAS APPROVED. SO AS YOU KNOW, THERE'S GOING TO BE A GARAGE. THERE'S GOING TO BE A BOND.

THERE'S GOING TO BE A 75% TIF SPLIT.

THE GARM IS GOING TO BE 75% OPEN TO THE PUBLIC, AND THERE WILL BE SOME RIDE OF WAY DEDICATION AS WELL AS IS PRETTY STANDARD PROJECT SO PRETTY SIMPLE PROJECT AGREEMENT TERMS ESSENTIALLY. SO WITH THOSE TERMS HAVING BEEN NOTED AND AS FURTHER DENOTED IN THE RESOLUTION ITSELF, I ASK FOR THE APPROVAL TO APPROVE THE RESOLUTIONS RELATED TO THE AGREEMENT AND I'M HAPPY TO

ANSWER ANY OTHER QUESTIONS. >> COMMISSIONERS, ANY QUESTIONS FOR MR. DIRECTOR? SEEING NONE IF IT'S YOUR PLEASURE, CHAIR WILL ENTERTAIN A MOTION OF

APPROVAL. >> MOTION TO APPROVE

RESOLUTION 2022-16. >> THANK YOU, COMMISSIONER.

IS THERE A SECOND? >> SECOND.

>> THANK YOU, COMMISSIONER. IT HAS BEEN MOVED AND SECONDED. TARA, WOULD YOU PLEASE CALL THE ROLL.

[7e. Action Item #4 – Resolution 2022-17 re: Concourse project terms]

>> APPROVED. >> THANK YOU VERY MUCH, COMMISSIONERS. WE'LL NOW MOVE ON TO OUR NEXT ACTION ITEM WHICH IS RESOLUTION 2022-17, AND THIS

[00:30:03]

MR. DIRECTOR OR MR. LEE? >> THIS IS ANOTHER ONE OF THE PROJECTS THAT CITY COUNCIL RECENTLY APPROVED BONDS FOR. THIS IS THE CONQUER PROJECTS IN MIDTOWN. THIS IS THE ONE THAT'S GOING TO BE 20% AFFORDABLE AT 50% A.M. I.

SO THE RESOLUTION SETS OUT KIND OF THE STANDARD TERMS. OBVIOUSLY PARKING NEEDS TO BE 75% OPEN TO THE PUBLIC.

THERE'S AN AFFORDABILITY PERIOD THAT MATCHES HUD'S AFFORDABILITY PERIOD WE'RE GOING TO REQUEST THEY MAINTAIN AND THERE'S GOING TO BE SOME RIGHT OF WAY DEDICATION AS WELL ALONG WITH EASEMENT WHICH HAS OCCURRED WHERE THE CITY IS BUILDING A PORTION OF THEIR I. T. CENTER BY THE WATER TOWER.

THESE ARE GENERALLY THE TERMS. I'M HAPPY TO ANSWER ANY QUESTIONS RELATED TO THE PROJECT AGREEMENT FOR THE CONCOURSE SITE.

>> THANK YOU, MR. DIRECTOR, ARE THERE ANY QUESTION, COMMISSIONERS, FOR THE DIRECTOR REGARDING THE TERMS

OF THE CONCOURSE PROJECT. >> MR. PRESIDENT, I WOULD MOVE THAT WE APPROVE RESOLUTION 2022-17.

>> THANK YOU, COMMISSIONER WORRELL.

IS THERE A SECOND? >> SECOND.

>> THANK YOU, COMMISSIONER. IT HAS BEEN MOVED AND SECONDED. TARA, WOULD YOU PLEASE READ, CALL THE ROLL.

>> APPROVED. >> THANK YOU VERY MUCH,

[7f. Action Item #5 – Resolution 2022-18 re: Courtyards of Carmel project terms]

WE'LL MOVE ON TO THE NEXT ACTION ITEM WHICH LOOKS LIKE IT'S THE RESOLUTION 2022-18 WHICH IS THE COURTYARDS OF CARMEL PROJECT TERMS, ONCE AGAIN MR. DIRECTOR OR

MR. LEE AS APPROPRIATE. >> IF YOU REMEMBER THIS IS A PROJECT FROM, A LITTLE BIT AGO.

THIS IS THE PROJECT WHERE WE HAD THE AGE RESTRICTED TIF THAT WAS APPROVED BY THE REDEVELOPMENT COMMISSION ON THIS ONE. IF YOU REMEMBER, WE HAD A MEETING WHERE THE NEIGHBORS CAME THAT WE HAD AND WE ALSO HELD A MEETING ON SITE ACCORDING TO THE STATE STATUTE RELATED TO RESIDENTIAL TIFS WHERE THERE'S AN AGE RESTRICTED COMPONENT.

THE TIF FROM THAT PROJECT IS GOING TO BUILD OUT SOME INFRASTRUCTURE FOR THE ENGINEERING DEPARTMENT INCLUDING ON-RAMP AND SLIP LANES.

SO THIS FINALLY IS PUTTING THE FINISHING TOUCHES ON THE PROJECT AGREEMENT, AND WHICH ARE REFERENCED IN THE RESOLUTION I'M HAPPY TO ANSWER ANY QUESTIONS ABOUT

THIS PROJECT AS WELL. >> THANK YOU, MR. DIRECTOR, COMMISSIONERS, ANY QUESTIONS AT THIS POINT? SEEING NONE IF IT'S YOUR PLEASURE, CHAIR WILL ENTERTAIN A MOTION OF APPROVAL.

>> MOTION TO APPROVE RESOLUTION 2022-18.

>> THANK YOU, COMMISSIONER. >> SECOND.

>> IS THERE A SECOND? >> AYE.

>> YES, THANK YOU, COMMISSIONER.

IT HAS BEEN MOVED AND SECONDED.

TARA, WOULD YOU PLEASE CALL THE ROLL.

[7g. Action Item #6 – Township donation resolution 2022-19 (CCHS)]

>> THANK YOU VERY MUCH. COMMISSIONERS, WE'LL MOVE ON TO OUR NEXT ACTION ITEM WHICH IS THE TOWNSHIP DONATION RESOLUTION 2022-19 WHICH WILL APPROVE THE DONATION TO CLAY TOWNSHIP FOR THE COMPLETION OF THE CARMEL CLAY HISTORICAL SOCIETY.

MR. DIRECTOR, COMMENTS? >> OKAY.

IF YOU REMEMBER CITY COUNCIL ALLOWED 2.5 MILLION FROM THE 120 TIF BOND TO BE USED FOR TOWNSHIP PROJECTS.

AT OUR LAST MEETING A MILLION DOLLAR WAS GRANTED TO THE TOWNSHIP TO HELP THE NEW FIRE DEPARTMENT HEADQUARTERS SO THAT LEAVES US WITH ABOUT A MILLION AND A HALF DOLLARS FOR THE HISTORICAL SOCIETY PROJECT.

SO THAT CONTRIBUTION IS GOING TO GET SPLIT INTO TWO ESSENTIALLY. ONE OF THOSE IS BEFORE YOU NOW. IT IS A GRANT OF -- JUST A LITTLE OVER $1 MILLION TO THE TOWNSHIP WHO IS HEADING UP THE CONSTRUCTION OF THE NEW, THE DESIGN AND CONSTRUCTION OF THE NEW HISTORICAL SOCIETY.

ONE OF THE OTHER THINGS THAT THE REDEVELOPMENT COMMISSION IS DOING IS WORKING DIRECTLY WITH THE ARCHITECT ON THE

[00:35:03]

SO THAT'S HOW EVERYTHING GETS SPLIT OUT IF YOU WILL.

SO THIS, THIS IS MONEY FOR THE TOWNSHIP TO MOVE AHEAD

WITH THEIR CONSTRUCTION. >> THANK YOU, MR. DIRECTOR.

COMMISSIONERS, ANY QUESTIONS FOR THE DIRECTOR REGARDING THIS RESOLUTION? SEEING NONE IF IT'S YOUR PLEASURE THE CHAIR WILL ENTERTAIN A MOTION OF

APPROVAL? >> MOTION TO APPROVE

RESOLUTION 2022-19. >> THANK YOU, COMMISSIONER,

IS THERE A SECOND? >> SECOND.

>> THANK YOU, COMMISSIONER. IT HAS BEEN MOVED AND SECONDED. TARA, WOULD YOU PLEASE CALL THE ROLL.

>> APPROVED. >> THANK YOU VERY MUCH,

[7h. Action Item #7 – Resolution 2022-20 re: The Corner trailhead project agreement]

AND MR. DIRECTOR, WOULD YOU CARE TO DESCRIBE THIS

PROJECT FOR US? >> SURE.

WE HAVE HAD A WONDERFUL TIME WORKING WITH OUR COLLEAGUES OVER AT THE PARKS DEPARTMENT AND THE CARMEL CLAY PARKS AND RECREATION BOARD TO TEAMWORK ON HOW TO HAVE THE CORNER PROJECT PROPERLY INTERFACE WITH THE ESSENTIALLY WHAT IS THE INTERURBAN TRAIL CONNECTION THAT'S RIGHT THERE AT 116TH STREET ADJACENT TO THE CORNER PROJECT. PART OF THE CORNER PROJECT, THE DEVELOPER THERE IS CONNECTING TO THE, TO THAT TRAIL, AND ONE OF THE THINGS THAT WE ALL AGREED ON WAS TO USE A PORTION OF THE PARK IMPACT FEES THAT WERE COLLECTED BY THE REDEVELOPMENT COMMISSION TO BUILD OUT A TRAIL HEAD RIGHT THERE AT INTERURBAN AT 116 THAT WAS ESSENTIALLY DESIGNED BY THE PARKS DEPARTMENT. SO WE'RE, ESSENTIALLY WHAT'S GOING TO HAPPEN, WE'RE GOING TO HAVE OUR -- LET'S CALL THEM REDEVELOPMENT COMMISSION PARK FEES COVER A PORTION OF THE DESIGN AND THE CONSTRUCTION INSPECTION SERVICES THAT TOWNSHIP OR THAT THE PARKS DEPARTMENT WOULD OTHERWISE BE DOING, AND A PORTION OF IT IS ALSO GOING, FOR THE DESIGN OF A NEW TRAIL HEAD AND SOMETIME IN THE FUTURE WE'LL BRING AND BID OUT THE NEW TRAILHEAD WORK AT A FURTHER, AT A FUTURE MEETING HERE AT THE COMMISSION. FOR NOW THIS IS FUNDING REVIEW OF EXISTING DESIGN AND NEW DESIGN FOR THE TRAILHEAD TO BENEFIT THE PARKS DEPARTMENT.

WITH THAT I'M HAPPY TO ANSWER ANY QUESTIONS.

>> THANK YOU, MR. DIRECTOR. ANY QUESTIONS FOR THE DIRECTOR REGARDING THIS RESOLUTION? SEEING NONE IF IT'S YOUR PLEASURE, EXCUSE ME --

SOMEONE HAVE A QUESTION? >> MOVE TO APPROVE THE

RESOLUTION 2022-20. >> THANK YOU, COMMISSIONER.

>> SECOND. >> SECONDED.

>> THANK YOU, COMMISSIONER, IT HAS BEEN MOVED AND SECONDED. TARA, WOULD YOU PLEASE CALL THE ROLL.

>> APPROVED. >> THANK YOU VERY MUCH.

IT IS APPROVED. WITH THAT, LET'S SEE.

[7i. Action Item #8 – Resolution 2022-21 re: Pledge to reimburse CMCDC from Studio M TIF]

MR. DIRECTOR? >> YEAH, SO THIS IS A PROJECT THAT, THIS IS THE NEW HEADQUARTERS FOR THE

[00:40:02]

IT'S BEING BUILT IN A STUDIO M. TIF ALLOCATION AREA THAT CITY COUNCIL HAD CREATED OR HELPED TAKE THE STEPS TO CONTINUE CREATING. SO THIS RESOLUTION ESSENTIALLY HAS THE C. R. C. REIMBURSING A COMMUNITY DEVELOPMENT CORPORATION THAT OFTEN WORKS IN CONCERT WITH THE C. R. C. CALLED THE MIDTOWN COMMUNITY DEVELOPMENT CORPORATION. AND SO THE MID TOWN COMMUNITY DEVELOPMENT CORPORATION IS GRANTING A CERTAIN SUM OF MONEY TO EFFECT WEIGHT ESSENTIALLY THE TIF ALLOCATION CREATION THERE AND TO INCENTIVIZE THE PROJECT AND THIS RESOLUTION HAS ITSELF C. R. C.

REIMBURSING THAT GRANT TO THE MID TOWN C. D. C.

THAT IS ESSENTIAL THE SUMMARY.

I'M HAPPY TO ANSWER ANY QUESTIONS.

>> THANK YOU, MR. DIRECTOR. ANY QUESTIONS, COMMISSIONERS, FOR THE DIRECTOR REGARDING THIS RESOLUTION? SEEING NONE, THE CHAIR WILL ENTERTAIN A MOTION OF APPROVAL IF THAT'S YOUR

PLEASURE. >> MOVE TO APPROVE

RESOLUTION 2022-21. >> THANK YOU, COMMISSIONER.

IS THERE A SECOND? >> SECOND.

>> IT HAS BEEN MOVED AND SECONDED.

TARA, WOULD YOU PLEASE CALL ITSELF ROLL -- THE ROLL.

>> THANK YOU VERY MUCH. WELL, THAT'S THE LAST OF OUR AGENDA ITEMS FOR THIS EVENING.

IS THERE ANY OTHER BUSINESS TO COME BEFORE US THIS EVENING? MR. DIRECTOR?

>> THERE'S NOT. WE HAVE A LOT OF PAPER TO

[9. EXECUTION OF DOCUMENTS]

RECYCLE. >> AMEN.

WITH THAT, WITHOUT OBJECTION, I'LL DECLARE OUR MEETING TO BE ADJOURNED PENDING THE EXECUTION OF DOCUMENTS. OUR NEXT REGULAR MEETING IS SCHEDULED FOR AUGUST 17, AND I BELIEVE IT WILL OCCUR HERE IN THIS CITY COUNCIL CHAMBERS.

I WOULD LIKE TO THANK EVERYONE FOR THEIR PARTICIPATION THIS EVENING, AND ENJOY THE HOT WEATHER.

THANK YOU VERY MUCH. >> THANK YOU.

* This transcript was compiled from uncorrected Closed Captioning.