Anderson Redevelopment Commission

MINUTES ANDERSON REDEVELOPMENT COMMISSION June 25, 2019 President Symmes introduced Tom Pitman, Barnes SPECIAL CALLED MEETING and Thornburg and Buzz Krohn and Jerrod Hall, OW 5:00pm Krohn and Associates. ED Conference Room #1 120 East 8th Street Mr. Pitman briefed audience on requirement for Anderson, IN 46016 Redevelopment Commissions to provide presentations to the overlapping taxing units as an MEMBERS PRESENT effort to provide information on how TIF is being used, Ricard Symmes, President what the plans for TIF are and how it affects taxing Aspen Clemons, Secretary/Treasurer units. Mr. Pitman stated it is a presentation and not a Kevin Sulc public hearing for debating the merits of the districts. David Eicks Mr. Pitman, Mr. Winkler and Mr. Krohn gave an overview of the impact of TIF on the taxing units MEMBERS ABSENT including job creation and retention, new residents Danny McGhee, Vice President that work and live in the county and private sector investment which increases economic and STAFF PRESENT redevelopment; all of which increase various taxes Ann Marie Bauer, Attorney collected in the area. Greg Winkler, ED Director Karen Soetenga, Specialist Mr. Krohn and Mr. Winkler reviewed TIF Cash Flow for 2018 showing total distributions just short of 13M with OTHERS PRESENT approximately 10M paid in debt service and the other Thomas J. Broderick, Jr., Mayor 2M used for projects including the NTN Substation. Lance Stephenson, City Councilman Rebecca Crumes, City Councilwoman Mr. Pitman and Mr. Winkler briefed attendees on the Jennifer Culp, City Councilwoman plan associated with the Economic Development area Julie Griswold, City of Anderson created by the ARC which is updated as new projects Doug Whitham, Controller’s Office and plans materialize. Mr. Krohn briefed attendees Jack Keesling, Board of Works Member on one of the latest projects, the Mass Transit Facility, Marc Slayton, ED Deputy Director added to the plan which included the leveraging of Jama Donovan, Parks and Recreation Director significant federal funds. Tom Pitman, Barnes and Thornburg Buzz Krohn, OW Krohn and Associates Mr. Krohn briefed attendees on the debt payments Jarrod Hall, OW Krohn and Associates anticipated over the next five years. Some TIF Rob Sparks, CED districts sunset beginning in 2036 and all sunset by Dan Courtney, FEC 2039, limited time to capture and take advantage of Sarah Later, Anderson Public Library the funds. Jeff Barranco, ACS Ben Orcutt, Buckskin Bikes Mr. Krohn highlighted the Italpollina project, also a TIF Vonda Clemons project. ROLL CALL AND DECLARATION OF QUORUM Mr. Winkler briefed attendees on the anticipated cash President Symmes at 5:00 pm. established a quorum flow for 2019 including existing debt service with four (4) members present. requirements, transit terminal matching funds, Infrastructure projects including paving and additional BUSINESS water wells totaling close to 13M with anticipated revenue at 13.5M. PRESENTATION TO OVERLAPPING TAXING DISTRICTS Mr. Krohn stated 2020 cash flow looks similar with debt service and infrastructure projects. Mr. Winkler briefed attendees on projects including Tower Apartments and Beverly Terrace Apartments downtown, the demolition and infrastructure improvements to the Edgewood Plaza area, CSX viaduct improvements on the former GM site and anticipated taxable bond incentives for future manufacturing expansions totaling approximately 14.3M with anticipated revenue being 14.7M. Mr. Winkler informed attendees of the Purdue Polytechnic Institute, a TIF project, and Purdue’s leasing of the building from the Flagship Enterprise Center. Mr. Pitman briefed attendees on the CRED designation which allowed for the capture of income and sales tax to be used for the construction of the P3 building. Mr. Krohn briefed attendees on the impact of the TIF on overlapping taxing units. Mr. Krohn stated allowable expenditures of TIF funds are real estate planning, acquisition and development costs, architectural and engineering fees and bond payments and debt service. Mr. Krohn stated the Redevelopment Commission sees all these items as having positive impact on all the taxing units, improving the quality of life for the City and surrounding area through job creation, new residents and private sector investment. Mr. Winkler briefed attendees on the rational for creating and maintaining the TIF districts including the means to provide necessary infrastructure for development, the attraction of multiple projects including Nestle, NTN, Hoosier Park, GTI, NTK and others, thousands of jobs created, ability to do quality of life projects such as P3, Edgewood Plaza and downtown housing, growth of utility customer base keeping utility rates in check and road projects and potential new recreational opportunities. Mr. Eicks made a motion to adjourn. Meeting was adjourned at 5:32pm. Page 2