Redevelopment Commission

LAFAYETTE � � MINUTES OF THE LAFAYETTE REDEVELOPMENT COMMISSION January 25, 2024 11:00 am Council Chambers, City Hall Attendance Commissioners: Frank Donaldson, James Foster, Shelly Henriott, Jos Holman, Jim Terry Absent: Ex-Officio Members: Dave Moulton Absent: Josh Loggins Staff: Dennis Carson, Economic Development Director; John Collier, Economic Development Assistant Director; Michelle Conwell; Economic Development Administrative Coordinator; Myles Holtsclaw, Community Development Manager; Kara Boyles, Certified Legal Intern; Jeromy Grenard, City Engineer; Nick Standefer, Traffic Foreman, Jeremy Diehl, Controller; Jacque Chosnek, City Attorney; Cindy Murray, City Clerk; Tony Roswarski, Mayor Guests: Patrick Williams, TBIRD Design Services; Rich Bender and Joe Blake, Iron Men Properties; Matt Oyer, American Structurepoint; Chris Wheatley, Jake Goodman, Zach Santy, Josh Spencer, Chris Limiac and Colin Sullivan, BF&S Engineering; Andy Sahm, Barrett & Stokely; Mike Silver, Atlas Excavating; Dave Ghaltney, F & K Construction; Teresa Butler, BUC Construction Supply; Michael Bennet and Ken Walker, Milestone Contractors; Antone Najem, Third Street Ventures; Alex Gonzalez and Davis Clutter, Kettelhut Construction; Keith Oliger, Tate and Lyle; Brett Pangallo, William Charles Construction; Greg Balsano, Baker Tilly; Dennis Otten, Bose-McKinney; Collin Huffines and Paul Moses, Greater Lafayette Commerce; Mark Vittori and Joe Rogers, Advanced Drainage Systems; Ries Plank, Hawk Enterprises; Tom Murtaugh, Tippecanoe County Commissioner; Randall Loft, Resident; Andy Manzur, WLFI; Dave Bangert, Independent Journalist; Josh Wormann and David Hickey, Purdue Exponent Welcome and Call to Order James Foster welcomed everyone to the Redevelopment Commission meeting, noted that a quorum was present and opened the meeting of the Lafayette Redevelopment Commission at 11:00am. Election of Officers Jim Terry made a motion that the current slate of officers be elected for 2024: James Foster-President Frank Donaldson-Vice President Shelly Henriott-Secretary Jos Holman seconded and the motion passed unanimously. James Foster continued to direct the meeting. Minutes Jos Holman moved to approve the minutes of the December 14, 2023 meeting. Shelly Henriott seconded and the motion passed unanimously. Public Hearings Jos Holman made a motion to suspend the Redevelopment Commission meeting and open the public hearing for Resolution LRC 2024-01. Jim Terry seconded and the motion passed unanimously. Resolution LRC 2024-01 2024 Budget Resolution: A Resolution Appropriating Money for the Lafayette Redevelopment Commission for the Fiscal Year Beginning January 1, 2024 and Ending December 31, 2024, Including the Outstanding Claims and Obligations and Fixing a Time When the Same Shall Take Effect James Foster opened the floor for public comment. There was no comment. Jacque Chosnek, City Attorney, asked that the Public Hearings for Resolution LRC 2024-02 and Resolution LRC 2024-03 be continued until February 22, 2024 at 11:00am. Resolution LRC 2024-02: Resolution Confirming the Amending Declaratory Resolution of the Lafayette Redevelopment Commission Adopted on December 14, 2023 Removing Certain Parcels from the Consolidated Creasy Lane Allocation Area, Establishing A New Allocation Area and Amending the Consolidated Plan for the Consolidated Creasy/Central Economic Development Area-Anvil 26 Resolution LRC-2024-03: Additional Appropriation Resolution-Anvil 26 Jim Terry made a motion to continue Resolutions LRC 2024-02 and LRC 2024-03. Shelly Henriott seconded and the motion passed unanimously. Jos Holman moved to close the public hearing and reopen the Redevelopment Commission meeting. Shelly Henriott seconded. The motion passed unanimously. New Business Bid Opening: Park East Boulevard- The following five bids were received, opened and read aloud for the Park East Boulevard Project: F&K Construction in the amount of $25,222,150.00; Milestone Contractors, LP in the amount of $24,230,800.00; Rieth-Riley Construction Co. in the amount of $23,130,000.00; Atlas Excavation in the amount of $21,533,911.00 and William Charles Construction in the amount of $26,128,000.00. Jos Holman moved to take the bids under advisement. Jim Terry seconded. The motion passed unanimously. Bid Opening: Traffic Signal Modernization - South Street Intersection With 6th Street- Three requests for quotes were extended, with two replies: James Drew Corporation is unable to provide a bid at this time. Hawk Enterprises, Inc. submitted a bid in the amount of $121,010.00. Jos Holman moved to take the bids under advisement. Shelly Henriott seconded. The motion passed unanimously. 3rd & 4th Street Conversion: Recommendation/Notice of award-At the December 14, 2023 meeting, the Redevelopment Commission received two bids for the 3rd & 4th Street Conversion project with Milestone Contractors being the lowest and most responsible bidder. Following review of the bids, staff recommend awarding the contract to Milestone Contractors. Jim Terry moved to approve. Jos Holman seconded. The motion passed unanimously. Contract Award- The contract amount for the project not to exceed $1,493,000.00, is awarded to Milestone Contractors. Jim Terry moved to approve. Shelly Henriott seconded. The motion passed unanimously. Notice to proceed- The Notice to Proceed for Milestone Contractors includes a start date of January 25, 2024 with a completion date of August 1, 2024. Jim Terry moved to approve. Jos Holman seconded. The motion passed unanimously. Kettelhut Construction lnc.-City Hall Renovation GMP Amendment- The City has received and is pleased with the Guaranteed Maximum Price (GMP) for the work to be done to renovate the current City Hall facility for the offices of the Fire, Legal, HR, Purchasing and Engineering Departments as well as an employee fitness center. Alex Gonzalez of Kettelhut Construction, Inc. gave an overview of the project and presented an amendment with a base price of $4,250,049.00, plus two alternates. The first alternate is for security cameras ($32,552.00) and the second is for IDF and MDF cabling ($13,984.00) for a total of $4,296,585.00. Jim Terry moved to approve. Shelly Henriott seconded. The motion passed unanimously. Resolution LRC 2024-01 2024 Budget Resolution: A Resolution Appropriating Money for the Lafayette Redevelopment Commission for the Fiscal Year Beginning January 1, 2024 and Ending December 31, 2024, Including the Outstanding Claims and Obligations and Fixing a Time When the Same Shall Take Effect- Following discussion, Jim Terry moved to approve the resolution. Jos Holman seconded. The motion passed unanimously. Resolution LRC 2024-02: Resolution Confirming the Amending Declaratory Resolution of the Lafayette Redevelopment Commission Adopted on December 14, 2023 Removing Certain Parcels from the Consolidated Creasy Lane Allocation Area, Establishing A New Allocation Area and Amending the Consolidated Plan for the Consolidated Creasy/Central Economic Development Area-Anvil 26 - Jacque Chosnek, City Attorney asked the Commission to table Resolution LRC 2024-02 until February 22, 2024 at 11:00am. Jim Terry made a motion to table. Shelly Henriott seconded and the motion passed unanimously. Resolution LRC-2024-03: Additional Appropriation Resolution-Anvil 26 - Jacque Chosnek, City Attorney asked the Commission to table Resolution LRC 2024-03 until February 22, 2024 at 11:00am. Jos Holman made a motion to table. Shelly Henriott seconded and the motion passed unanimously. Resolution LRC-2024-04: A Resolution Authorizing the Use of Existing Tax Increment to Fund the Series 2024 Note and Pledging Tax Increment for the Anvil 26 Project - Jacque Chosnek, City Attorney asked the Commission to table Resolution LRC 2024-04 until February 22, 2024 at 11:00am. Jos Holman made a motion to table. Shelly Henriott seconded and the motion passed unanimously. Resolution LRC 2024-05: Resolution of the City of Lafayette Redevelopment Commission Approving an Economic Development Agreement in Connection with the Development and Financing of a Mixed-Use Commercial/Residential Project, including a Parking Garage, and Authorizing Other Matters in Connection Therewith-John Purdue Block- This is a new downtown project being proposed by developers Antone Najem of Third Street Ventures and Andy Sahm of Barrett & Stokley for 14-22 N 2 nd Street. This will be a nearly $57M project consisting of 157 multifamily apartment units, 5150 sq ft of commercial/retail space and 157 units of parking. The project includes demolition of the former Dunn & Hargitt Building at 22 N 2 nd Street. The project will protect the existing historic John Purdue Block the interior of which will be renovated and the exterior repaired and rehabilitated. The new six-story building including two stories of parking and 4-stories of multi-family residential, will be built to the north and west sides of the existing John Purdue Block and overlook the Wabash River. This resolution outlines the Economic Development Agreement between the developers and the Lafayette Commission for TIF support of the project which is anticipated to include approximately $10M of State Redevelopment Tax Credits, $SM of READ! funds and a TIF bond of no more than 95% of the increment generated with a 2% annual assessed value adjusted over the term of the bond. Dennis Otten, the City's bond counsel, Bose-McKinney, and financial analyst, Greg Balsano of Baker Tilly, were in attendance to present the resolution, its details and answer questions. Jos Holman made a motion to approve. Jim Terry seconded and the motion passed unanimously. Resolution LRC 2024-06: Declaratory Resolution of The City of Lafayette Redevelopment Commission (I) Removing Parcels from The Consolidated Creasy/Central Economic Development Area and Allocation Area and (II) Establishing The John Purdue Block Economic Development Area and Allocation Area - Presented by Dennis Carson, this resolution reestablishes the John Purdue Block project site parcels as a new TIF allocation area in order to capture the project's tax increment over the next 25 years. Bond counsel, Dennis Otten, from Bose-McKinney, and financial analyst, Greg Balsano of Baker Tilly, were in attendance to present the resolution, its details and answer questions. The Mayor spoke in favor of the project and talked about how much downtown has transformed in the past several years as a result of projects like this one. Jos Holman made a motion to approve. Jim Terry seconded and the motion passed unanimously. Resolution LRC-2024-07: A Resolution Recommending Designation of An Economic Revitalization Area for Tax Abatement and Recommending Approval of Deduction for Tax Abatement-Tate & Lyle Solutions USA, LLC. -Personal Property-Keith Oliger of Tate and Lyle presented a proposal requesting a seven-year tax abatement on an investment in personal property (machinery and equipment) of approximately $24,500,000. While retaining 318 jobs, Tate and Lyle will be expanding the current product line and adding an additional packing line. Shelly Henriott made a motion to approve. Jim Terry seconded and the motion passed unanimously. Resolution LRC 2024-08: Declaratory Resolution of the City of Lafayette Redevelopment Commission {I) Removing Parcels from the McCarty Lane - Southeast Industrial Expansion Economic Development Area and Allocation Area and {II} Establishing the Park East Economic Development Area and A/location Area-Park East Blvd-As part of the bond process, some of the parcels in the SE TIF, in and around the Park East Blvd project, are being re-established. These parcels currently have little to no development on them and contribute to the SE TIF and are set to expire in a few years. This will allow us to establish them as a new allocation area and capture the future increment from new investment that we believe will be a result of the Park East Blvd expansion under a new 25-year term. Dennis Otten, from Bose-McKinney, and financial analyst, Greg Balsano of Baker Tilly, were in attendance to present the resolution, its details and answer questions. Jim Terry made a motion to approve. Jos Holman seconded and the motion passed unanimously. Resolution LRC 2024-09: Resolution of The City of Lafayette Redevelopment Commission Approving an Amendment to Economic Development Agreement {2024} and Authorizing Other Matters in Connection Therewith-Park East Blvd - This resolution amends the Economic Development Agreement with Tippecanoe County to include the Park East Blvd project, the intention to issue bonds by both entities to fund the project and pledge local income tax as a backup source of repayment if needed. Dennis Otten of bond counsel, Bose-McKinney, spoke about the cost shared between the City (Series A Bond) and the County (Series B Bond). Jos Holman made a motion to approve. Frank Donaldson seconded and the motion passed unanimously. Resolution LRC 2024-10: A Declaratory Resolution of the City of Lafayette Redevelopment Commission Amending Economic Development Plan for the McCarty Economic Development Area - Park East Blvd - This resolution also amends the McCarty TIF area, a joint TIF with the City/County, in addition to the SE TIF as amended above to include the Park East Blvd project and allow funds to be used if needed for the project. The Mayor gave an overview of the project, stating that the Park East Boulevard project will join McCarty and Haggerty Lanes to create another artery connecting South St. (formerly State Road 26) and State Road 38. In addition to improving traffic flow, it will quickly open up the 300-400 acre area for industrial and medical development. In 5 or 6 years, an interchange at Interstate 65 and McCarty Lane may be an option. The bids received were below expected estimates. Dennis Otten, the City's bond counsel from Bose-McKinney, and financial analyst, Greg Balsano of Baker Tilly, were in attendance to present the resolution, its details and answer questions. Jos Holman made a motion to approve. Frank Donaldson seconded and the motion passed unanimously. Permission to Advertise: Main St. Streetscape Phase V- Dennis Carson asked the Commission for permission to advertise for bids for one of the last phases of the Main Street Streetscape project. The project is being broken into two phases (Phase V in 2024 and Phase VI in 2025). Phase V work includes streetscape improvements along 9th Street between Ferry Street and the alley north of Main Street and from Columbia Street to the alley south of Main Street. Additional work includes new sidewalks, brick pavers, tree grates, site furnishing, decorative lighting, and traffic signal replacement at 9th and Columbia and 9th and Ferry Streets; drainage improvements along 9th Street north of Ferry Street as well as Main Street between 8th Street to just east of 9th Street. Work in both locations includes new underground utility work, which will be installed with open trenching and patched with asphalt upon completion; burial of existing overhead utility lines will occur along 9th Street between the alley north of Columbia Street to the  alley south of Ferry Street. The contractor is expected to mobilize shortly after bid award in March and complete work in December of 2024. Phase VI will be bid separately later this year for construction to begin in 2025. Jim Terry made a motion to approve. Shelly Henriott seconded and the motion passed unanimously. Butler, Fairman and Seufert, Inc. (BF&S}: Park East Boulevard Extension Project-Supplement #2 - This supplement to the engineering contract with BF&S is for construction inspection, materials testing and observation for the Park East Blvd extension project. The amount is a lump sum of $2,361,000.00 bringing the contract from $1,691,310.00 to $4,114,610. Jim Terry made a motion to approve. Shelly Henriott seconded and the motion passed unanimously. HWC Engineering: Main Street Streetscape Phase V & VI Amendment #6 - Additional design and coordination time related to the rescoping of Phases V and VI - This Amendment is for additional engineering work by HWC Engineering for the Main Street Streetscape Project Phases V & VI in the amount of $51,000.00. Jos Holman made a motion to approve. Shelly Henriott seconded and the motion passed unanimously. Director's Report-no report Claims Jim Terry moved to approve the January 2024 claims in the amount of Seven Million, Eight Hundred Seventy-Eight Thousand, Thirty-Seven Dollars and Seventy-Two Cents ($7,878,037.72). Frank Donaldson seconded and the motion passed unanimously. Public Comment-no comment Adjournment Jos Holman moved to adjourn the meeting. Frank Donaldson seconded and the motion passed unanimously. The meeting of the Lafayette Redevelopment Commission was adjourned at 12:04pm. Respectfully submitted Michelle Conwell, Recording Secretary ppr .Jved, Sb,el y Henri,@t Secretary 1 Lafayette�; elopment Commission