Apr 11, 2023 Carmel Redevelopment Commission

[00:00:11]

GENTLEMEN. THIS IS THE REGULAR MONTHLY MEETING OF THE REDEVELOPMENT COMMISSION, WE ARE HERE IN THE CITY COUNCIL

[1. PLEDGE OF ALLEGIANCE]

IN THE 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

[2. APPROVAL OF MINUTES]

LIBERTY AND JUSTICE FOR ALL. >> THANK YOU VERY MUCH, WE WILL NOW MOVE ON TO OUR NEXT AGENDA ITEM WHICH IS OUR MEETING MINUTES FOR THE MEETING OF MARCH 15TH, ARE THERE ANY CORRECTIONS OR ADDITIONS TO THE DRAFT MINUTES THAT WERE SENT

TO YOU, COMMISSIONERS? >> THANK YOU.

>> I SECOND THE MOTION. >> THANK YOU, COMMISSIONER. IT HAS BEEN MOVED AND SECONDED, WE WILL GO AHEAD AND DO IT BY VOTE, WE WILL CALL THE ROLE. YEAH.

>> ALL IN FAVOR? >> THE PRESIDENT CALLS IT.

>> WE USUALLY CALL IT BY EACH MEMBER, IF YOU DON'T MIND.

>> WILL HAVE TO DO THAT NOW SINCE BILL BROOKS IS NOT HERE.

>> WE CAN JUST DO VOICE PROTOCOL.

>> OKAY. ALL IN FAVOR? APPROVAL OF THE MINUTES, SAY

[3a. Cash Flow Report]

REPORT , MR. LEE? >> THANK YOU. THE COMMISSIONS END OF MONTH BALANCE FOR MARCH WAS $6,436,866. CLEAN RESTRICTED FUNDS, IT WAS 11 MILLION, 260,000, $828.

[3b. Approval of Claims]

>> WE WILL MOVE ON TO OUR CLAIMS --

>> WE HAVE BEFORE YOU THREE SETS OF CLAIMS TONIGHT, ONE FOR NON-OPERATING EXPENSES IN THE AMOUNT OF $304,980.35. THE OTHER ONE FOR THE 2021 CLAIMS, THE $290,000. FINALLY, FOR THE 2021 BONDS, THE AMOUNT OF $30,261.71. IS IT ME KNOW IF

YOU HAVE ANY QUESTIONS. >> MOVED TO APPROVE?

[3c. Action Item #1 – Change Order]

>> SECOND.

[4. EXECUTIVE DIRECTOR REPORT]

>> GOOD EVENING, COMMISSIONERS. LOTS OF THINGS GOING ON IN THE CITY OF CARMEL, LOTS OF INSTRUCTION. LOTS OF EXCITING STUFF. HOLLAND IS FILLED WITH PEOPLE AND OFFICE WORKERS,

[00:05:01]

ACTUALLY, JUST -- JUST LAST WEEK THERE WAS A MAJOR, NEW ANNOUNCEMENT OF A LARGE LAW FIRM, CARTER AND ENGLISH. IT IS A FIRM OUT OF NEW JERSEY THAT IS EXPANDING, A LOT OF ATTORNEYS WENT OVER TO JOIN THIS FIRM AND THEY ARE TAKING UP FOUR OF THE FIRST AND MAIN BUILDING , SO THIS IS A MAJOR LAW FIRM GOING IN NOT DOWNTOWN INDIANAPOLIS, BUT RIGHT IN THE HEART OF OUR CITY. THERE IS THE MAYOR. I CANNOT SEE FROM HERE.

IS THIS IT? THIS? JANEL. EVERYONE, DEPUTY DIRECTOR FURMAN. OKAY. THAT IS FIRST IN MAINE. MAGNOLIA CONTINUES ON, THEY ARE A STARTING FOUNDATION FOR THE NEXT TWO CONDO BUILDINGS THERE. LOTS OF PROGRESS GOING ON IN THE CORNER, WHICH AS OF YESTERDAY HAS A NAME CALLED THE MUSE.

THAT'S A GOOD NAME, THE MUSE. LOTS OF WORK GOING ON , WE WILL GET SOME UPDATED PICTURE NEXT TIME, AS OF TODAY THEY ARE PUTTING A MASONRY FACADE OUTSIDE OF THAT NOW, IT IS REALLY , THAT BUILDING IS REALLY LOOKING MORE BEAUTIFUL EVERY TIME I DRIVE BY. THE GARAGE AGAIN IS OPERATIONAL, I HAVE THE PART COUNTERS SHOWING UP IN THE OPEN SPACES THAT THERE ARE. WHICH ARE MANY , THEY CAN PARK IN THE GARAGE AND WE RECENTLY HAD THE UNVEILING SINCE OUR LAST MEETING OF THE COSMIC FLOW , THE LARGE PIECE OF OUR -- I DON'T HAVE A PICTURE OF THAT HERE BUT IF YOU FIND IT, WHILE I'M TALKING. IT IS -- I DO HAVE A PICTURE OVER HERE. THAT'S PRETTY BEAUTIFUL.

SO, THAT HAS BEEN INSTALLED, THAT'S A MOSAIC PIECE AND WE ARE GOING TO HAVE LATER THIS MONTH THE INSTALLATION OF SECONDARY COSMIC, THIS IS THE SECOND COMPONENT OF THE COSMIC FLOW MURAL WHICH IS THIS ONE, WHICH IS GOING TO BE ON THE EAST SIDE RIGHT HERE OF THE BUILDING. WE WILL HAVE MORE PUBLIC ART THERE, THAT IS DONE BY A CARMEL BASED ARTIST NAMED NANCY KEATING, WE CONTINUE TO SUPPORT LOCAL, PUBLIC ART.

CROSSING THE REPUBLIC HEADQUARTERS CONSTRUCTION CONTINUES ON, PROSCENIUM TWO IS REALLY SAYING SOME WORK WITH FOUNDATION WORK NOW. REDEVELOPMENT COMMISSION CONTINUES WORKING WITH OUR FRIENDS AT THE CENTER FOR THE PERFORMING ARTS ON A NEW SPEAKER AND P.A. SYSTEM, WE HAD SOME PRE-RFQ RESPONSE MEETINGS JUST LAST WEEK , HOPING TO GET

[00:10:04]

COMMISSIONERS WOULD HAVE. >> COMMISSIONERS, DO YOU HAVE

QUESTIONS FOR THE DIRECTOR? >> JUST A COUPLE OF COMMENTS, SO ON THE CHOOSE CARMEL SITE, I'M TRYING TO USE THAT WHEN PEOPLE HAVE QUESTIONS ABOUT WHAT IS GOING ON WITH THE PROJECTS AT AN ONGOING BASIS. I NOTICED THAT THE COMPONENTS OF THE CITY CENTER ARE NOT INCLUDED ON THAT. PLAY FAIR

HOLLAND -- >> IT'S ACTUALLY KIND OF -- WE SHOULD DEFINITELY UPDATE THIS , THEY ARE DIFFICULT TO FIND, BUT I AGREE THAT WE DON'T HAVE I GUESS FOR ANYONE WATCHING FOR THE CITY CENTER, WHICH IS A COMPLEX PROJECT WITH LOTS OF COMPONENTS , YOU CAN ACTUALLY PRESS DOWN, GO TO PHASE TWO. TAKE SOME TIME TO LOAD.

>> I SAW THAT BUT I COULD NOT GET EXACTLY WHAT I WAS TRYING TO SHOW, SOME PEOPLE WHO WERE -- MAYBE I MISSED THAT.

>> ONE OTHER WAY TO SEE IT IS THE VIDEOS THEMSELVES, THAT IS NOT INCREDIBLY INTUITIVE. THIS IS THE HOLLAND VIDEO, THIS DOES FEATURE THAT IN THERE, I CAN'T TELL THE DIFFERENCE.

>> SOMEONE LOOKING THERE WOULD NOT KNOW WHICH IS WHICH, WE DON'T GO INTO THAT ANY FURTHER. I NEED THAT TO BE LIKE THE OTHER PROJECTS WHICH ARE SPECIFIC BY BUILDING NAME.

>> WE WILL MAKE THAT CHANGE, COUNSELOR BRICK

>> AND THEN WHAT I WOULD LIKE IS THE COMMISSIONER TO UNDERSTAND WHERE WE ARE IN THE VOLUME OF APARTMENTS. WE HAVE A LOT OF PROJECTS UNDER CONSTRUCTION, AND WE HAVE PROJECTS THAT ARE ALREADY COMPLETED, THERE IS SOME DISCUSSION OUT THERE WITH RESIDENCES, WHERE IS THIS ALL GOING? I APOLOGIZE I DID NOT GIVE YOU A HEADS UP, I DON'T EXPECT AN ANSWER. I WOULD LIKE TO START MONITORING BUT WE HAVE UNDER CONSTRUCTION IN ORDER OF APARTMENTS, WHAT WE HAVE COMPLETED AND THEN I CAN IN MY MIND, I SIT HERE AND APPROVE FUTURE PROJECTS TO UNDERSTAND HOW MANY APARTMENTS WE ARE ADDING. I WANT TO TAKE A MINUTE TO EMPHASIZE AND MAKE SURE THAT YOU AGREE THAT WHAT IS HAPPENING IS THAT THERE IS A SIGNIFICANT NUMBER OF PEOPLE WHO WANT TO REMAIN IN CARMEL WHO ARE DOWNSIZING IN UTILIZING OUR APARTMENT INVENTORY, I AM EXTREMELY HAPPY ABOUT THAT, THAT IS AN UNKNOWN FACT AS I TALK TO PEOPLE OUT THERE WHO ARE JUST MAKING ASSUMPTIONS BASED ON WHAT APARTMENT SHE USED TO BE VERSUS WHAT THEY ARE NOW, I DO THINK THAT WE NEED TO PROBABLY KEEP OR I NEED TO KEEP A HANDLE ON THE NUMBERS. IF YOU COULD HELP ME TO QUANTIFY THAT, AND MEASURE IT, AND UNDERSTAND WHERE WE ARE HEADING, I WOULD FIND THAT VERY VALUABLE AS A COMMISSIONER

BRICK >> I'M HAPPY TO WORK ON THAT, I WILL REACH OUT TO OUR COLLEAGUES AT THE DEPARTMENT OF COMMUNITY SERVICES. IT IS THE PLANNING AND ZONING DEPARTMENT, THEY TRACK CONSTRUCTION STARTS, THEY TRACK PERMITTING , SO THEY, THAT IS A DEPARTMENT THAT RETRACTS THE CONSTRUCTION ON ALL MULTIFAMILY UNITS, IT IS NOT ALL MULTIFAMILY UNITS BEING REDEVELOPMENT PROJECTS , SO IT IS REALLY THE COMMUNITY SERVICE DEPARTMENT THAT TRACKS ALL SUCH CONSTRUCTION PERMITTING, SO THEY WOULD HAVE THAT DATA PROBABLY MORE READILY AVAILABLE , I WOULD PUT THAT TOGETHER FOR YOU.

>> I THINK TO THAT POINT, THE SERVICE WE ARE DOING IS PUBLIC PRIVATE PARTNERSHIPS, THEY ARE VERY UNIQUE AND DIFFERENT FROM WHAT MAY BE D OCS IS WORKING ON, I WOULD TAKE WHAT THE CURRENT NUMBER OF APARTMENTS ARE AS PRIVATE PUBLIC PARTNERSHIPS, AND THEN WHAT WE HAVE UNDER CONSTRUCTION, THEN THAT WILL HELP ME TO MONITOR WHAT IS COMING FORWARD.

>> UNDERSTOOD WE WILL PUT THAT INTO THE COUNCIL.

>> THANK YOU. >> OTHER QUESTIONS OR COMMENTS,

COMMISSIONERS? >> IN THAT SAME BREATH, I THINK THERE'S ALSO A STUDY OUT THERE ON WHAT THE DEMAND , IF THERE IS A DEMAND CONTINUED TO DEMAND FOR MULTI FAMILY IN THIS AREA, THE WE , I DON'T KNOW IF IT'S THROUGH PLANNING BUT IT

[00:15:06]

SHOULD BE. >> I WOULD SAY GENERALLY THE DEVELOPERS USUALLY COMMISSION THE STUDIES THEMSELVES AND THE STUDIES ARE DIFFERENT LITERALLY FOR EACH LOCATION, SO LIKE A STUDY FOR THE CORNER OR I GUESS THE MUSIC ONCE YOU SEE THE RANGE LINE WILL SHOW US THE DEMAND THAT WILL BE DIFFERENT THAN THE STUDY FOR SOMETHING BEING BUILT IN THE CITY CENTER.

GENERALLY, DEVELOPERS WILL NOT SHARE THAT. UNDER NDAS BECAUSE IT IS , THEY PAY QUITE A LOT OF MONEY FOR THAT INFORMATION, SO WE CAN CERTAINLY JUST BASED ON THE INTEREST THAT IS OUT THERE, KNOW THAT THE DEMAND IS STILL HIGH IN THE FACT THAT MOST OF THESE LUXURY APARTMENT PROJECTS ARE BASICALLY AT PEAK CAPACITY AND CONTINUE TO BE, I CAN REACH OUT TO SOME OF THE DEVELOPERS TO SEE IF THEY WOULD SHARE SOME OF THE STUDIES.

>> PERFECT, AND WITH THAT OVERALL I CAN SAY THAT THERE IS A FEELING THAT PEOPLE, THERE IS LARGE FAITH THAT THEY ARE

BUILDING TOO MANY. >> THERE ARE NO VACANT ZONES, NO VACANCIES AT ALL. I SPOKE WITH A DEVELOPER RECENTLY JUST LAST WEEK THAT YOU KNOW, THEY , I'M NOT GOING TO SHARE WHICH ONE, THEY HAVE A LOT OF UNITS IN THE CORE, SHE TOLD ME THAT SHE TRACKS NEW PROJECTS COMING ONLINE, SHE TRACKS FOR A FEW MONTHS, THERE IS A SLIGHT DIP IN OCCUPANCY OF THEIR OWN PROJECTS, THEN IT GOES RIGHT BACK TO MAX. THAT IS CONSISTENT EVERY TIME WITH NEW APARTMENT BUILDINGS, HITTING THE MARKET. I THINK IT IS IMPORTANT TO NOTE THAT WE GENERALLY DON'T BUILD APARTMENTS ONLY. WE GENERALLY MATCH THEM WITH FIRST FLOOR RETAIL THAT HAS ITS OWN DESTINATION RETAIL, WE MATCH THEM WITH OFFICE AND SO , WE ALMOST CREATE NEW ACTIVITY DOWNLOADS EACH TIME WE PUT A NEW PROJECT IN, IT DOESN'T -- IT ONLY BUILDS THE MARKET FOR THESE UNITS FURTHER AS MORE AND MORE ACTIVITIES START TO TAKE PLACE IN OUR CENTRAL CORE. I WILL SEE HOW MUCH INFORMATION

THEY CAN GET FOR YOU. >> MR. PRESIDENT, JUST ONE MORE COMMENT. IF YOU'RE GOING TO GO THROUGH THAT KIND OF TROUBLE, I WOULD LIKE TO SEE US DEVELOP AN INTERNAL DASHBOARD THAT I JUST WANT TO MAKE SURE WE DON'T GET OUT OVER OUR SKIS, WE JUST KEEP DOING THE SAME THING AND AT SOME POINT, WE REALIZE THE MARKET HAS CHANGED, OR WHATEVER. I HAVE EVERY CONFIDENCE IN THE ENTIRE DEPARTMENT, I'M BEING ASKED ABOUT THIS A LOT. SO, I JUST WANT TO MAKE SURE THAT WE UNDERSTAND THAT WE HAVE FULL KNOWLEDGE OF WHAT'S GOING ON, AND THAT WE ARE CONFIDENT IN THE DECISIONS THAT WE ARE MAKING WHICH I KNOW WE ARE, A DASHBOARD WOULD BE GREAT. ANY STATS YOU COME UP WITH, I WILL TAKE THEM PICK

>> UNDERSTOOD. THANK YOU. >> ANY OTHER QUESTIONS?

>> I JUST HAVE A COMMENT. SO, PART OF THAT DASHBOARD, I THINK IT WOULD BE INTERESTNG BECAUSE IF YOU THINK ABOUT THAT FLOOR THAT IS A NEW LAW FIRM, BEING CREATED I THINK IT WOULD BE INTERESTING TO SEE OUR PEOPLE MOVING TO CARMEL BECAUSE OF THESE NEW JOBS CREATED, PEOPLE WHO IF THEY WERE WORKING FOR THAT LAW FIRM LIVING DOWNTOWN, OR LIVING OUT-OF-STATE, THEY ARE DRAWN NOW TO BEING PULLED TO CARMEL FOR THAT REASON. I THINK THAT WOULD BE IMPORTANT INFORMATION NOT JUST FOR CREATING THIS NUMBER OF APARTMENTS, BUT ALSO SINCE THESE ARE MIXED-USE OFTENTIMES, HOW MANY JOBS ARE BEING CREATED, WHERE ARE PEOPLE COMING FROM? JUST SOMETHING TO CONSIDER. IT IS AN INTERESTING CATEGORY.

>> UNDERSTOOD. >> ANY OTHER QUESTIONS OR

[5. COMMITTEE REPORTS]

REPORT FOR US? >> WE HAVE NOT MET.

>> THANK YOU, COMMISSIONER. WITH THAT, IS THERE ANY OLD

[7a. Action Item #1 – Resolution 2023-12 re: Bridges II project terms]

[00:20:04]

GIVE US A SUMMARY? >> YES. THE EARLIER LAST -- LAST YEAR, THE CITY COUNCIL APPROVED THE NEW ALLOCATION AREA FOR THE BRIDGES TO THERE, A COUPLE OF DEVELOPMENTS THAT ARE GOING TO TAKE PLACE, AND THE BRIDGES ALLOCATION AREA INCLUDING APARTMENTS ON ONE SIDE AND POTENTIALLY AN OFFICE ON THE OTHER SIDE. THE REDEVELOPMENT COMMISSION HAS BEEN NEGOTIATING WITH THE PROPERTY OWNER, AND ONE OF THE THINGS WE ARE GOING TO DO IS TO HAVE -- COME TO AN AGREEMENT WHERE THE PROPERTY OWNERS GOING TO BUILD A PUBLIC ROUNDABOUT, PUBLIC INFRASTRUCTURE NAMELY THE ROUNDABOUT AT A COST OF AROUND $400,000, THAT WILL BE INCENTIVIZED BY THE MIDTOWN COMMUNITY DEVELOPMENT CORPORATION, AND AS PART OF THAT, THE TIP FROM THE -- WILL COME BACK TO THE REDEVELOPMENT COMMISSION. THERE WILL BE THE GRAND FOR FURTHER REDEVELOPMENT COMMISSION OF THESE FUNDS TO THE MIDTOWN COMMUNITY DEVELOPMENT CORPORATION TO HELP ENSURE THAT THIS PROJECT GETS DEVELOPED, OBVIOUSLY THERE IS MORE TO THAT THAT COMES BACK TO THE COMMISSION AS PART OF INCENTIVIZING THIS PROJECT. IT IS A GOOD DEAL FOR THE COMMISSION, CERTAINLY WITHIN THE MISSION OF THE CARMEL COMMUNITY DEVELOPMENT CORPORATION TO HELP BUILD UP PUBLIC INFRASTRUCTURE IN THE CITY OF CARMEL, IT HELPS GET THIS PROJECT GOING. SO, THE RESOLUTIONS IN FRONT OF YOU CONTEMPLATE BOTH THAT KIND OF PROJECT AGREEMENT WITH DEVELOPERS, AND ALSO THE GRANT TO THE CARMEL MIDTOWN CDC RELATED TO WHAT I JUST TALKED ABOUT, AND THE CARMEL MIDTOWN CDC MET EARLIER THIS WEEK IN APPROVAL FOR LAST WEEK AND APPROVED MIRROR RESOLUTIONS TO WHAT WE HAVE TALKED ABOUT

TODAY. >> THANK YOU, MR. DIRECTOR, QUESTIONS TO THE DIRECTOR REGARDING THIS PROJECT? SEEING NONE, IF IT IS YOUR PLEASURE, COMMISSIONERS. SHERMAN, ENTERTAIN A MOTION OF APPROVAL.

>> MOTION TO APPROVE RESOLUTION 2023 DASH ONE?

>> THANK YOU, DIV COMMISSIONER, IS THERE A SECOND? IT HAS BEEN MOVED AND SECONDED, SO WITH THAT, I WOULD ASK, DO WE NEED

TO DO A ROLL CALL? >> NO. ALL THOSE IN FAVOR? SAY AYE. ANY OPPOSED? IT IS APPROVED, THANK YOU VERY MUCH,

[7b. Action Item #2 – Resolution 2023-13 re: Monon Square North project terms]

>> THANK YOU. OFTENTIMES, THE WAY THAT SOME OF THESE PROJECTS TRAVEL THROUGH THE CITY IS WE -- THEY ARE ALWAYS BROUGHT BEFORE CITY COUNCIL FIRST, CITY COUNCIL USUALLY DOES A DEEP DIVE INTO THESE PROJECTS. CITY COUNCIL USUALLY HOLDS A COUNCIL FINANCE COMMITTEE MEETING, THAT IS USUALLY WHEN THE PRESS REALLY JUMPS INTO A PROJECT, AND SO , THAT IS A PROJECT THAT WAS APPROVED BY CITY COUNCIL, LATE LAST YEAR. I WANT TO SEE AROUND PROBABLY OCTOBER OF LAST YEAR.

GENERALLY, THE SQUARE NORTH ON THIS SITE , THESE BUILDINGS RIGHT HERE. SO WE HAVE AN APARTMENT COMPLEX, WITH LOTS OF RETAIL . YOU HAVE ANOTHER APARTMENT COMPLEX WITH LOTS OF DESTINATION RESTAURANTS, IT IS HARDER TO SEE HERE BUT THIS IS A ALL NEW FORD SALE BUILDING AS WELL. SO, THIS IS A -- DEAL. WE HAVE BEEN ESSENTIALLY GETTING THIS SQUARE SITE READY TO END AND BECOME TRULY THE BRIDGE BETWEEN OUR CITY CENTER REDEVELOPMENT AREA AND MIDTOWN REDEVELOPMENT AREA, THIS IS THAT BRIDGE THAT FINALLY STARTS CONNECTING THESE TWO REDEVELOPMENT A -- AREAS WE HAVE HAD FOR A WHILE. UNDER THIS PROJECT AGREEMENT, THE REDEVELOPMENT COMMISSION KIND

[00:25:02]

THE 60 WAS THE ENTIRETY OF THE PLAZA, SO IT REALLY PAID ABOUT $30,000 A YEAR IN PROPERTY TAXES FOR THE NORTHERN HALF, AND WHEN THIS IS BUILT, IT IS GOING TO GENERATE $135,000 A YEAR FOR THE SCHOOLS ALONE. THAT'S A THING I WOULD LIKE TO ADD, A BOND LAST YEAR, THE CITY COUNCIL APPROVED THE BUILDING OUT OF VETERANS WAY, AND THE STREETS THROUGH THIS AREA, AND ALLOCATED MONEY FOR THE -- TO CONTINUE THAT. THIS IS REALLY THE FINAL PIECE OF THE PUZZLE. BETWEEN CITY CENTER AND MIDTOWN, KIND OF A CONTINUATION OF OUR REDEVELOPMENT AREA. THIS IS THE NORTH PIECE OF THAT, ONCE AGAIN LOTS OF RESTAURANTS, SALON 01, ADDITIONAL OFFICE

RETAIL AND CONDOS. >> THANK YOU, MR. DIRECTOR.

>> I'M HAPPY TO ANSWER ANY QUESTIONS THAT YOU MAY HAVE.

>> COMMISSIONERS, QUESTIONS? >> OKAY. SO, LET'S DEAL WITH THE GARAGES FIRST. THESE WILL BE, THE GARAGES WILL BE OWNED

BY WHO? >> THE GARAGES ARE OWNED, MANAGED, AND MAINTAINED BY THE DEVELOPER, ABOUT 75% OF THE LARGER GARAGE AND ABOUT 50% OF THIS SMALLER GARAGE ARE FREE AND OPEN TO THE PUBLIC FOREVER.

>> 75% IS FOR THE PUBLIC, HOW -- I KNOW WE HAVE LEARNED OUR LESSONS OVER TIME, I LEARNED MY LESSON TO ASK THE QUESTION, WHERE ARE THE RESERVE SPACES GOING TO BE? WHAT FLOORS?

>> I THINK THAT IS STILL BEING WORKED OUT, I DON'T HAVE A

PERFECT ANSWER FOR YOU. >> OKAY. IT IS A CONCERN OF MINE. BASED ON SOME OF OUR PREVIOUS EXPERIENCE, SO I WOULD LIKE TO HAVE THAT IDENTIFIED AND I WOULD LIKE TO KNOW ABOUT IT BEFORE YOU SIGN THE CONTRACT, WHERE THOSE RESERVE SPACES ARE GOING TO BE. MY UNDERSTANDING IS THAT THERE WAS GOING TO BE -- WHERE IS THE GREEN SPACE?

>> PART OF WHAT ENGINEERING IS WORKING ON, OBVIOUSLY THERE IS A LARGE , LINEAR PARK AT THE MONT ON. BUFFERING THIS AREA, THERE IS A LOT OF TREES THAT ARE BEING PUT IN TO REALLY ALL OF THE ENTIRE -- THERE IS ALMOST A LIVING STREET THAT WE REFER TO , AS TO WE REFERRING IT, TO THE SOUTH PART OF THIS

PARCEL. >> REFERRED TO AS A WHAT ?

>> A WORTH, A DUTCH TERM. FOR A LIVING STREET,

>> DON'T GLOSS OVER THAT, SO I'VE HEARD YOU USE THAT TERM BEFORE, BUT FOR ANY WAY THAT MIGHT BE WATCHING, TELL US WHAT

THAT IS. >> IT IS ESSENTIALLY A STREET THAT GIVES EQUAL PRIORITY TO PEDESTRIAN ACTIVITY AND

[00:30:01]

VEHICULAR ACTIVITY. >> VEHICLES THERE ARE -- THEY DON'T HAVE PRIORITY, THEY ARE EQUAL GUESTS IN THE AREA, PEOPLE FEEL SAFE, BEING IN THAT STREET, CROSSING THE STREET AND THERE WILL BE THREE LINES AS WELL. HERE IN THE MIDDLE KIND OF SPACE ALONG VETERANS WAY, WE HAVE VETERANS WAY AS WE HEADED TO MIDTOWN, IT IS SEEN AS A B STREET. DOES HAVE ADDITIONAL SPACE HERE AS WELL.

>> THAT WAS ORIGINALLY PRESENTED TO ME AS THERE WOULD BE SOME ACTIVATION IN THAT AREA, IF YOU ALLOWED ENOUGH SPACE, COULD YOU COMPARE THAT SPACE TO ME LIKE SAY MIDTOWN?

BIGGER OR SMALLER? >> I WOULD NOT COMPARE THE AREA IN THE MIDDLE ALONG VETERAN WAY, TO MIDTOWN, I KNOW THERE WILL BE OBVIOUSLY LANDSCAPING THERE, TREES, AND SOME ACTIVATION, BUT REALLY THE MAJORITY OF THE GREEN SPACE AND THE ACTIVITY REALLY IS GOING TO TAKE PLACE ALONG THERE AND

THE WHARF. >> WE CAN'T REALLY ACTIVATE THAT, THAT IS ITS OWN THING, BASED ON THE PREVIOUS AREAS.

THERE REALLY IS NO GATHERING SPACE IN THIS PHASE OF THE

PROJECT? >> I WOULD SAY THAT THAT MONA , THE CITY ENGINEERING DEPARTMENT IS DESIGNING EXACTLY WHAT THIS PORTION LOOKS LIKE, SO BECAUSE THIS REALLY IS JUST APPROVAL OF THE NORTHERN HALF OF THIS PROJECT, I DON'T WANT TO -- WE HAVE SEEN SOME BURN EARLY RENDERINGS THAT ARE PRETTY AMAZING, I DON'T WANT TO GET AHEAD OF THE ENGINEERING DEPARTMENT ON THAT. IT IS FULLY ACTIVATED WITH A LOT OF SPACE, AND A LOT OF REALLY NEED AMENITIES THAT REALLY TAKE US FROM WALNUT ALL THE WAY DOWN TO --

>> OKAY. ALL RIGHT, THANK YOU.

>> THANK YOU, COMMISSIONER, ANY OTHER QUESTIONS, SEEING NINE.

IF IT IS YOUR PLEASURE, COMMISSIONER, CHAIR WOULD ENTERTAIN A MOTION OF APPROVAL.

>> MOTION TO APPROVE RESOLUTION 2023 DASH 13 , APPROVAL OF THE TERMS IN THE SQUARE OF THE NORTH PROJECT, THANK YOU, IS

THERE A SECOND? >> SECOND THAT MOTION.

>> DO I HAVE TIME TO HAVE ANOTHER MOTION, I WOULD LIKE TO ASK A COUPLE MORE QUESTIONS. SO, THIS ACTION THAT WE ARE TAKING, WHAT IS THE DESIGN COMPONENT OF THIS PROJECT, HOW

WILL THAT BE HANDLED? >> AS USUAL, THERE IS GOING TO BE A -- ARCHITECTURE THAT GETS PRESENTED AND WORKED THROUGH THE REDEVELOPMENT COMMISSION'S ARCHITECTURE COMMITTEE, OBVIOUSLY, THAT IS A MINOR COMPONENT, IT WILL BE FILED WITH PLANNING AND ZONING THROUGH THE 80 LS PROCESS, IT WILL BE SUBJECT TO 80 LS APPROVAL, WHICH INCLUDES ARCHITECTURAL LIGHTING, DESIGN, TO THE EXTENT, THE PROJECT WILL NEED VARIANCES, WE KNOW THERE WILL BE VARIANCES AS WE GO IN FRONT OF THE BOARD OF ZONING APPEALS AS WELL, WE KNOW THAT THIS PROJECT IS GOING TO NEED VARIANCES AS WELL. ALL OF THOSE APPROVALS ARE STILL YET TO TAKE PLACE, OBVIOUSLY THIS IS MORE OF A WHAT'S IN FRONT OF US TODAY IS MORE OF A -- A FINANCIAL QUESTION, AND A GENERAL DO WE SEE THIS PROJECT BEING THE RIGHT KIND OF PROJECT QUESTION, BUT ALL OF THE FINANCIAL KIND OF , SORRY ARLINDA FURTHER DESIGN REFINEMENTS ARE CONTEXTUAL APPROVALS , THAT IS STILL GOING

TO TAKE PLACE AFTER THIS PERIOD >> AND PROPOSED A B IS 100

MILLION? >> YES, ALTHOUGH IT'S PROBABLY RISEN AT THIS POINT, IT IS OVER $100 MILLION,

>> OKAY. ALL RIGHT. IS THERE A -- WHAT WOULD BE THE TIMELINE FOR THE NEXT ACTION WE TAKE ON THIS?

>> ON THE REDEVELOPMENT COMMISSION STANDPOINT, THERE WILL BE AN ARCHITECTURAL REVIEW , A MEETING PROBABLY FOR THE NEXT 30 DAYS, IT WILL PROBABLY BE LOOKING TO FILE THIS WITH 80 LS, TO START THE CITY PROCESSES, PLANNING, ENGINEERING PROCESSES IN EARNEST, PROBABLY ALSO THE NEXT

30 DAYS. >> VERY GOOD, THANKS.

>> THERE IS A MOTION BEFORE US, I WOULD LIKE NOW TO ASK US TO

[00:35:08]

[7c. Action Item #3 – Resolution 2023-14 re: Monon Square North TIF Pledge]

AYE. ANY OPPOSED? >> IT IS APPROVED, THANK YOU VERY MUCH, COMMISSIONERS. WE WILL NOW MOVE ON TO OUR NEXT ITEM, NUMBER THREE. RESOLUTION 23 DASH 14. THE CARMEL REDEVELOPMENT COMMISSION, PLEDGING CERTAIN TAX REVENUES TO THE PAYMENT OF THE CITY OF CARMEL, INDIANA FOR THE SQUARE NORTH PROJECT . MR. LEE?

>> THANK YOU. THIS IS FOR THE PROJECT THAT THE DIRECTOR JUST DESCRIBED, THE BONDS FOR THIS PROJECT HAVE ALREADY BEEN APPROVED BY CITY COUNCIL, AND THE SQUARE NORTH ALLOCATION AREA HAS ALREADY BEEN CREATED, THIS WILL PLEDGE 90% OF THE FUTURE INCREMENT FROM THE SQUARE NORTH ALLOCATION AREA TO THE DEVELOPER BONDS THAT WILL SUPPORT THIS PROJECT, AND IF YOU HAVE ANY QUESTIONS, PLEASE LET ME KNOW.

>> THANK YOU, MR. LEE, QUESTIONS FOR MR. LEE REGARDING

THIS RESOLUTION? >> SEEING NONE IF IT'S YOUR PLEASURE, COMMISSIONERS , THE CHAIR WOULD ENTERTAIN A MOTION

OF APPROVAL. >> MR. PRESIDENT, I WOULD MOVE THAT WE APPROVE RESOLUTION 2023 DASH 14.

>> THANK YOU, IS THERE A SECOND?

>> SECOND MOTION FOR SECOND AND, THANK YOU, COMMISSIONER.

WITH THAT, IF THERE ARE NO QUESTIONS, I WOULD ASK THAT WE TAKE ACTION ON THIS RESOLUTION BEFORE US, ALL THOSE IN FAVOR, PLEASE SAY CARMEL -- AYE. ANY OPPOSED? IT IS APPROVED, THANK

[7d. Action Item #4 – Resolution 2023-15 re: Declaratory Resolution for City Center RDA expansion ]

>> IT'S NOT SHOWING UP ON THE SCREEN RIGHT NOW, IMAGINE THE SQUARE AREA, AND JUST SOUTH OF THERE, THERE WE GO. THERE WE GO. LET'S GET THIS REAL QUICK. HERE IS THE SQUARE, AND ALL OF THIS IS GOING TO BE IN THE CITY CENTER REDEVELOPMENT CENTER, THIS IS THE AREA IN WHICH YOU CAN CREATE A REDEVELOPMENT AREA. IN ORDER TO DO THE SOUTHERN HALF OF THE SITE, WE DO NEED TO ADD THESE FOUR PARCELS INTO THE SAME REDEVELOPMENT AREA, WE ARE STARTING THE PROCESS NOW, AND THAT PROCESS IS MOVING FORWARD IN THE FUTURE. FIRST, WE NEED THESE FOUR PARCELS INTO THAT REDEVELOPMENT AREA AND START THAT PROCESS. AS I READ THIS, THIS IS A DECLARED TERM RESOLUTION, THIS WILL GO THROUGH THE NORMAL STEPS OF GOING NEXT TO THE PLANNING COMMISSION, THEN TO CITY COUNCIL, THEN BACK HERE FOR A PUBLIC HEARING AND FINAL ACTION

BY THE COMMISSIONER. >> CORRECT.

>> THANK YOU, QUESTIONS OF MR. LEE AT THIS POINT?

>> SEEING NONE, IF IT IS YOUR PLEASURE , COMMISSIONERS, THE CHAIR WILL ENTERTAIN A MOTION OF APPROVAL.

>> MOTION TO APPROVE RESOLUTION 203 FASTEST 15, THE AMENDATORY OF RESOLUTION OF THE CITY CENTER REDEVELOPMENT

AREA. >> THANK YOU, COMMISSIONER

BOWERS, IS THERE -- >> I SECOND THAT MOTION.

>> THANK YOU. WE WILL NOW TAKE ACTION UPON THIS RESOLUTION, ALL IN FAVOR, PLEASE SAY AYE. ANY OPPOSED? IT IS APPROVED,

[7e. Action Item #5 – REI Management Agreement Amendment]

>> THIS IS AN AMENDMENT TO THE CURRENT REI MANAGEMENT AGREEMENT WITH REI REAL ESTATE, THEY ARE THE PROPERTY MANAGER FOR THE JAMES BUILDING AND THE TARKINGTON BUILDING ACROSS FROM THE STADIUM, THIS AMENDMENT UP DATE UPDATES THE TERM OF THE AGREEMENT , TO 2023 AND ALSO INCLUDES THE NEW HVAC MADE IS WHAT THEY HAVE BEEN DOING ALL ALONG, THEY HAVE NOT BEEN CHARGING FOR IT, ESSENTIALLY SO THEY ARE ADDING THAT IN, HOWEVER THE OVERALL FEE TO BE PAID WILL GO DOWN ACTUALLY BECAUSE SINCE THEN, THE SQUARE FOOTAGE PORTION THAT IS THE CRC RESPONSIBILITY HAS SHRUNK SINCE THE LAST AGREEMENTS, WE ARE ACTUALLY PAYING LESS THAN WHAT WE WERE BEFORE EVEN WITH

THIS INCREASE IN FEE. >> THANK YOU, MR. LEE, QUESTIONS OF MR. LEE REGARDING THIS PROPOSED RESOLUTION? SEEING NONE, IF IT IS YOUR PLEASURE, COMMISSIONERS,

[00:40:02]

>> MOTION TO APPROVE THE AMENDMENT TO THE PROPERTY MANAGER AGREEMENT WITH REI REAL ESTATE SERVICES.

[7f. Action Item #6 – WJE PSA Amendment]

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

>> SECOND. >> IT HAS BEEN MOVED IN SECOND IN, WE WILL NOT TAKE ACTION ON THE RESOLUTION, ALL IN FAVOR

PLEASE SAY AYE. >> AYE.

>> ANY OPPOSED? IT IS APPROVED, THANK YOU VERY MUCH, COMMISSIONERS. NOW WE WILL MOVE ON TO ACTION ITEM NUMBER SIX, AND LET'S SEE, MS. FAIRMAN, THIS HAS YOUR NAME ON IT, THIS IS AN APPROVAL PROPOSED APPROVAL OF THE CONTRACT AMENDMENT FOR ADDITIONAL SUBPOENA REPAIR DESIGN AND

REPAIR SERVICES. >> THANK YOU, MR. PRESIDENT.

THE ORIGINAL PROFESSIONAL SERVICES AGREEMENT WE HAD IN PLACE WITH W JE WAS WRITTEN BACK IN 2021, THIS IS FOR THE UP DATES AND UPGRADES TO THE WATERPROOFING PLAZA, IF YOU REMEMBER, WE ARE WORKING ALONGSIDE COLONEL STREET DEPARTMENT, WE ARE ACTUALLY UNDER CONTRACT WITH THE CONTRACTOR OF THIS BUILDING OF THE PROJECT WHILE THE CRC IS UNDER CONTRACT, WE EXECUTED THIS DESIGN AND CONSTRUCTION ADMINISTRATION CONTRACT ALMOST TWO YEARS AGO. IT IS AN HOURLY NOT TO EXCEED CONTRACT, THEY HAVE HIT THEIR LIMIT. THE REASON THAT IT HAS COME TO THIS IS BECAUSE WE HAD TO REBID THE PROJECT, IF YOU REMEMBER IT CAME IN QUITE A BIT HIGHER THAN EXPECTED THE FIRST TIME, HAD TO GO BACK FOR A REBID. WE HAD MORE INTEREST THE SECOND TIME. CONSTRUCTION HAS TAKEN LONGER THAN WAS EXPECTED, WE WILL HAVE ADDITIONAL SITE VISITS THAT WERE NOT ANTICIPATED. THIS IS JUST HOURLY ADDITIONAL SERVICES, NOT TO EXCEED 35,000 , I DON'T EXPECT WE WILL HIT THAT AMOUNT, BUT I WANTED TO MAKE SURE THAT THEY WERE ABLE TO CONTINUE WORKING AND PROVIDING SERVICES WE NEED.

>> WHEN DO WE EXPECT THE REPAIR CONSTRUCTION TO BE

COMPLETED? >> SUBSTANTIAL COMPLETION SHOULD BE IN MAY, THE CONTRACT IS RETURNED ANTICIPATING THAT IT IS JUNE JUST IN CASE THERE ARE ANY MATERIAL DELAYS OR ANY OTHER UNFORESEEN CONDITIONS, BUT RIGHT NOW, THE CONTRACTOR IS TELLING US SOMETIME IN MAY PICKS UP CENTRAL COMPLETION A

MONTH LATER. >> THANK YOU, CHAIRMAN, QUESTIONS, COMMISSIONERS REGARDING THE PROPOSED AMENDMENT? SEEING NONE, IF IT'S YOUR PLEASURE, CHAIR WILL ENTERTAIN A MOTION FOR APPROVAL.

>> I WOULD MAKE A MOTION THAT WE APPROVE CONTRACT AMENDMENT W JE IN THE AMOUNT NOT TO EXCEED $35,000.

>> COMMISSIONER. IS THERE A SECOND?

>> I SECOND THE MOTION. THANK YOU VERY MUCH, COMMISSIONER. I WILL TAKE ACTION ON THE PROPOSED AMENDMENT, ALL IN

FAVOR PLEASE SAY AYE. >> AYE. ANY OPPOSED, SAME SIDE.

IT IS APPROVED, THANK YOU VERY MUCH, COMMISSIONERS. LET'S

[9. EXECUTION OF DOCUMENTS]

EVENING, MR. DIRECTOR? >> THERE IS NOT, MR. PRESIDENT.

NEXT MEETING IN MAY, IT IS SCHEDULED ON HERE, I SEE MAY 17TH BUT I UNDERSTAND THAT THIS STAFF IS RECOMMENDING DELAYING IT FOR THE 24TH. THAT IS CORRECT, MR. PRESIDENT. IT WILL BE THE NORMAL TIMES, IT WOULD BE MAY 24TH BECAUSE CERTAIN MEMBERS OF THE STAFF OR OUT OF TOWN.

>> VERY GOOD, OKAY. WITHOUT OBJECTION, I WILL DECLARE OUR MEETING TO BE IN ADJOURNMENT UNTIL NEXT MONTH, AND WITH THE EXCEPTION OF

* This transcript was compiled from uncorrected Closed Captioning.