Redevelopment Commission

MINUTES OF THE LAFAYETTE REDEVELOPMENT COMMISSION MEETING November 15, 2012 Board of Works Room, City Hall 11:00 am ATTENDANCE: COMMISSIONERS: Mary Lundstrom; Jim Terry; Jos Holman; Donald J. Teder; and Greg Eller. CITY OFFICIALS: Tony Roswarski, Mayor; Cindy Murray, City Clerk; Jacque Chosnek, Deputy City Attorney; Dennis Carson, Economic Development Director; Andy Milam, IT Department STAFF: Margy Deverall, City Planner; Daniel Walker, City Planner; Jennie Peterson, City Planner; and Nancy Hendricks, Administrative Assistant. GUESTS: Jim Higgins, London Witte Group; Rich Starkey, Barnes & Thornburg; Steve Biggerstaff, MetroNet; Tom Decker, MetroNet; Jud Barce, Fowler, IN; Sam Klemet, WBAA; and Ron Wilkins, Journal & Courier. Welcome and Call to Order Vice-President Mary Lundstrom welcomed everyone to the meeting, noted that a quorum was present, and opened the meeting of the Lafayette Redevelopment Commission. Approval of the minutes for the October 25, 2012 meeting Jos Holman moved to approve the minutes of the Redevelopment Commissioners meeting on October 25, 2012. Donald J. Teder seconded. The motion passed. Public Hearing Jos Holman moved to close the Lafayette Redevelopment Commission meeting in order to hold a public hearing. Jim Terry seconded. The motion passed. Jim Terry moved to open the public hearing. Donald J. Teder seconded. The motion passed. Vice-President Mary Lundstrom called for public comment on Resolution LRC #2012-21 for additional appropriation of Tax Increment Finance (TIF) funds for the payment of bonds in the Consolidated Central TIF District. No one commented or questioned the resolution. Vice-President Mary Lundstrom then called for public comment on Resolutions LRC #2012-22 and #2012-23. No one commented or questioned the resolutions. Jos Holman moved to close the public hearing. Jim Terry seconded. The motion passed. Jos Holman moved to reopen the meeting of the Lafayette Redevelopment Commission. Jim Terry seconded. The motion passed. Resolution LRC #2012-21: A Resolution for Additional Appropriation Dennis Carson clarified that this resolution approves the issuance of bonds in an amount not to exceed four million dollars. The savings to the city for the refunding of the Lafayette Redevelopment District Parking Facility Revenue Bonds of 1996, and the Lafayette Redevelopment District Tax Increment Revenue Bonds of 2004 (two series A & B) total over three hundred eighty thousand dollars. Donald J. Teder moved to approve Resolution LRC # 2012-21 additional appropriation for refunding three bonds. Jos Holman seconded. The motion passed. Resolution LRC #2012-22: Confirming Resolution Declaring an Area in the City of Lafayette and the County of Tippecanoe as an Economic Development Area and Approving an Economic Development Plan for Said Area The MetroNet TIF geographical area covers all of Lafayette and Tippecanoe County. Although only certain portions of the county have been identified for initial service, expansion will continue as the interest increases. West Lafayette will establish their TIF District separately at later date. Jim Higgins from London Witte Group confirmed that all taxing bodies have received notification and impact statements. Jos Holman moved to approve the confirming resolution declaring the geographical area of the MetroNet TIF District. Jim Terry seconded. The motion passed. Resolution LRC #2012-23: Resolution Pledging Certain Tax Increment Revenues to the Payment of Economic Development Revenue Bonds of the City of Lafayette Steve Biggerstaff introduced the timeline for the MetroNet project, which will start immediately. “The Hut” for all activity will be build first then redundant loops need to be set up. Most construction will begin immediately, but some work will be delayed until crews return from the East Coast clean-up from Hurricane Sandy. The Tippecanoe County Auditor will distribute the tax increments to the pledged TIF District (not to exceed $6.5 million), and no other city money can be encumbered if the tax increments are not enough to cover the cost of the project. Jos Holman moved to approve the resolution pledging tax revenue. Donald J. Teder seconded. The motion passed. Receive bids for 3728 Navarre Court property No bids were submitted. The property will be turned over to a local realtor for sale. Director’s Report Dennis Carson introduced a video produced by the Indiana Association of Cities and Towns show casing the award winning Chatham Square development project. The five minute video was shown to the Commissioners and the attending public. Jim Terry moved to approve the Director’s Report. Jos Holman seconded. The motion passed. Approve November claims Jim Terry moved to approve payment of the November claims totaling $237,721.23. Jos Holman seconded. The motion passed. Confirm the next meeting date for the Lafayette Redevelopment Commission By consensus, the Commissioners confirmed the December 13th meeting date. Public Comment/ Adjournment Vice-President Mary Lundstrom invited comment from the public. Hearing none, Jim Terry moved to adjourn. Jos Holman seconded. The meeting adjourned. Respectfully submitted, Nancy Hendricks, Recording Secretary Approved, _____________________________________________________ Secretary, Lafayette Redevelopment Commission