Redevelopment Commission

MINUTES OF THE LAFAYETTE REDEVELOPMENT COMMISSION MEETING February 23, 2012 Board of Works Room, City Hall 11:00 am ATTENDANCE: COMMISSIONERS: Donald J. Teder; John Thieme, Jr.; Jos Holman; and Greg Eller. CITY OFFICIALS: Tony Roswarski, Mayor; Ed Chosnek, City Attorney; and Dennis Carson, Director of Development. STAFF: Margy Deverall, City Planner; Dan Walker, City Planner; Jennie Peterson, City Planner; and Nancy Hendricks, Administrative Assistant. GUESTS: Richard Starkey, Barnes & Thornburg; Steve Biggerstaff, MetroNet; Chris Malackany, Purdue University; Brittany Tyner, WLFI-18; and Sam Klemet, WBAA Welcome and Call to Order President John Thieme, Jr. welcomed everyone to the meeting, noted that a quorum was present, and opened the meeting of the Lafayette Redevelopment Commission. Approve Minutes of the Previous Meeting After noting that corrections had been made to typographic errors, Jos Holman moved to approve the minutes of the January 26, 2012 meeting. Donald J. Teder seconded. The motion passed. Resolution LRC #2012-02: Resolution of the City of Lafayette Redevelopment Commission Declaring an Area in the City of Lafayette and Areas Contiguous as an Economic Development Area and Approving an Economic Development Plan for Said Area Steve Biggerstaff of MetroNet summarized the fiber optic infrastructure project that will bring high speed connections to every property in the Lafayette/West Lafayette/Tippecanoe County area. The funding and liability for the project rests entirely on MetroNet. Since their first step requires the purchase of a $4 million bond, they are asking for capture of the Tax Increment Financing (TIF) to repay the initial bond after the cable is in place. Richard Starkey of Barnes & Thornburg clarified the steps for the bond to be put into place, clarifying again that the city would not have any liability on the bond as long as the TIF district was in place to make payments from the increments set aside for that purpose. The TIF district will not be geographical, but will consist of the cable itself and the line on which it is laid. The total investment by MetroNet will come closer to $40 million. Jos Holman moved to approve the Declaratory Resolution. Donald J. Teder seconded. The motion passed. Director’s Report Dennis Carson presented the 2011 Annual Report of the Economic Development Department and encouraged the Commissioners to contact him with any questions. Jos Holman moved to accept the director’s report. Donald J. Teder seconded. The motion passed. Approval of December claims Donald J Teder moved to approve payment of claims in the amount of $58,154.47. Jos Holman seconded. The motion passed. Public Comment/ Adjournment John Thieme, Jr. invited public comment. No comment was made. Donald J Teder moved to adjourn the meeting of the Lafayette Redevelopment Commission. Jos Holman seconded. The motion passed. Respectfully submitted, Nancy Hendricks, Recording Secretary Approved, _____________________________________________________ Secretary, Lafayette Redevelopment Commission 1