Zionsville Redevelopment Commission (ZRDC)

ZIONSVILLE REDEVELOPMENT COMMISSION MEETING MEMORANDA FOR Monday, August 24, 2015 at 6:30pm Zionsville Town Hall-Community Meeting Room 1100 West Oak Street Members Present: Luke Phenicie, President, Brad Johnson, Vice-President, Mark Plassman, Secretary, Wade Achenbach, Treasurer, and Katie Culp. Also Present: Ed Mitro, Town Manager, Wayne DeLong, AICP, Director of Planning & Economic Development, Ben Worrell, Boone EDC, Bruce Donaldson, Counsel to the RDC, and Andrew Perry, Crowe. A. Opening a. Call meeting to order-President Luke Phenicie called the meeting to order at 6:30pm. b. Review of Memorandums of the June 22, 2015 regular meeting (Memorandum is available), July 15, 2015 MicroLoan Committee meeting (Memorandum is available), and July 30, 2015 special meeting (Memorandum is available). 1. Action Taken: A motion was made by Katie Culp (seconded by Brad Johnson) to approve the June 22, July 15, and July 30, 2015 memorandums. The motion was unanimously approved. B. Old Business a. Redevelopment Area project update: Wayne DeLong offered an update on projects within and near the TIF area (and provided a written report). Luke Phenicie inquired as to the status of the 106th Street right-of-way improvements at the Lids facility, and how that timing is related to any application for IEDC grant funding associated with the improvement. Wayne DeLong offered a summary of the current grant application discussions and indicated that while the project was on time and under budget, the speed of the project may conflict with a successful grant application (as language of the agreement must be agreed upon by all parties involved). Luke Phenicie also inquired as to the status of the Scannell Properties purchase agreement associated with the proposed sale of the remnant 106th Street right-of-way. Wayne DeLong offered a brief summary of activities over the last 30 days regarding the contemplated transaction. b. Creekside Committee Reports: Brad Johnson updated the Committee of the HWC’s current efforts (infrastructure design). The Creekside Committee met last week to review the most recent program numbers and currently is tracking as a $4.8 million dollar project. Additional costs will be added to this number in the near future as the project’s plans are finalized. Additional design services could include costs associated with the relocation of rubble and dirt piles located in the project area, sewer service (lift station), and the proposed park feature.  Also presented as a part of the discussion was the updated parcel layout, which now incorporates the proposed cul-de-sac street (and eliminates the through street). The Commission noted a consensus of approval as to the new layout. Luke Phenicie asked about timeline regarding next steps as well as getting the project out to bid. It was noted that HWC had previously provided a timeline, and an updated timeline was forthcoming. c. Business Plan Committee Report: Wayne DeLong offered that the Committee is looking to create updated marketing pieces based on the new design and will distribute the same as soon as available. d. Marketing Committee update, Wayne DeLong offered a summary of recent activity related to prospective tenants and purchasers e. Creekside Committee Procedural Discussion: Luke Phenicie introduced this agenda item and noted that the matter was tabled from a prior meeting. Brad Johnson summarized the proposed Committee membership (based on his discussions with Town Council leadership). Committee membership of the proposed five (5) member Committee would include one member of the Town Council (Tim Haak), two Commission members (Mark Plassman and Brad Johnson), one Plan Commission member (Allan Rachles), and one architect (identified as Dave Rausch and/or Eileen Davis). Two potential architects were identified and asked to participate as projects have the potential to include an architect that is also on the Committee, and having an alternate available would serve to reduce the probability of an issue of a conflict. The number of Creekside Architectural Review Committee members was again discussed, and based on the discussions a five member Committee was affirmed as the direction to which the Committee should be populated (as opposed to a four member Committee). The group spoke to the positive influence the Committee could have on the process, including speeding up the process (by expediting decision making), and that it was not intended to replace the Plan Commission process or serve as the final approval. During the meeting that Katie Culp noted concern with the association of building design and the consideration of incentives associated with an overall project. It was also noted that efforts were made to seek out input from development professionals regarding the contemplated Committee organization. Based on that outreach, leadership found general support for the idea of the Committee format. 1. Action Taken: A motion was made by Brad Johnson (seconded by Luke Phenicie) that the Commission appoint Tim Haak, Mark Plassman, David Rausch, Eileen Davis, Allan Rachles, and Brad Johnson to the Creekside Architectural Review Committee (recognizing that David Rausch was the primary architectural representative to the Committee and Eileen Davis was the secondary architectural representative to the Committee). The motion was unanimously approved. f. Bennett Parkway extension: Ed Mitro spoke to a draft summary report provided by the Town Engineer (report was available). In summary, it was indicated that Town Engineer BLN identified various routes for the potential extension of Bennett Parkway, costs associated with the various routes, the presence of wetlands and other natural features  and manmade features (including pipelines) associated with the various routes, the potential of various alternatives (including the concept of connecting to Mayflower Parkway). A part of the discussion included a reference to the need for bonding as a source of funding for any project extending Bennett Parkway to the south. As to next steps, the Town Engineer will continue to review current and new information as to the various alignments and staff will provided updates as information becomes available. g. Budget: Ed Mitro introduced the topic and provided a summary handout of the 2016 proposed Budget for reference (the same has been distributed to the Town Council). Luke Phenicie spoke to the Creekside numbers now being more defined and the potential of bonding, that the Commission is anticipating additional clarity (from the County) as to revenues (anticipated to be provided in the coming weeks), that the budget includes the First Street project (Ed Mitro offered a summary the current scope and parameters associated with the First Street project). Luke Phenicie indicated that Lance Lantz should be invited to attend a future Commission meeting to speak to the First Street project. Specific to the contemplated budget, the current budget is under review by the Town Council and the first reading is scheduled for October 5, 2015 (with the second reading to occur at a special meeting in October). h. Bonding / Financing discussion: Andrew Perry from Crowe spoke to the bonding capacity analysis it prepared for review and consideration by the Commission (capacity analysis available for review). Bruce Donaldson spoke to the capacity analysis and suggested 125 percent coverage line item and noted 125 percent is a reasonable percentage. It was noted that the Commission’s bonding capacity, per Crowe’s review, was $11 million dollars. Luke Phenicie inquired as to next steps regarding putting the steps in place to have bonding capacity in place by the end of 2015. Bruce Donaldson offered a summary of requirements and meetings obligations and indicated that if capacity were requested to be in place by the end of the year steps would need begin in a month. C. New Business a. Darrin’s Coffee Company Mircoloan discussion: Luke Phenicie introduced the MicroLoan request of the Darrin’s Coffee and Wade Achenbach summarized the MicroLoan Committee’s review and recommendations. Per the applicant (who was present at the meeting), the loan proceeds would be used towards tenant build-out expenses and equipment (majority of loan proceeds would be utilized for purchasing of equipment). Per the Committee: Maximum amount of the loan: $19,000; 5 year term; 4 percent interest rate; and conditions per the Boone EDC letter dated July 28, 2015 (Letter is available). i. Action Taken: A motion was made by Luke Phenicie to approve the Loan activity based on the terms identified in the July 28, 2015 letter. The motion passed unanimously. D. Boone EDC Update: Ben Worrell indicated the Boone EDC is currently assisting a party to identify 10,000 square feet of manufacturing / office space within Zionsville. E. Other Business None was presented F. Adjournment (the meeting adjourned at 7:33pm) Respectfully Submitted, Mark Plassman, Secretary The next meeting of the Redevelopment Commission is scheduled for September 28, 2015 at 6:30pm.