Zionsville Redevelopment Commission (ZRDC)

ZIONSVILLE REDEVELOPMENT COMMISSION SPECIAL MEETING MEMORANDA FOR Thursday, October 27, 2016 at 5:15pm Zionsville Town Hall-Community Room 1100 West Oak Street Members Present: Brad Johnson, President, Luke Phenicie, Vice President, and Wade Achenbach, Treasurer. Also Present: Wayne DeLong, AICP, Director of Planning & Economic Development and Bruce Donaldson, Counsel to the RDC. A. Opening a. Call meeting to order-President Brad Johnson called the meeting to order at 5:30pm. B. New Business a. Purchase Agreement (GDI): Wayne DeLong indicated that the RDC is in receipt of a proposed Purchase Agreement associated with Lots 12, 13, and 14 related to the completive pursuit identified by GDI. Staff is requesting that the RDC identify from its membership an individual or individuals to which will be given authority to enter into discussions with GDI related to its interests in Creekside. 1. Action Taken: Luke Phenicie made a motion to authorize Wade Achenbach and Brad Johnson to enter into discussions GDI related to the competitive pursuit (including both Staff and Paul Kite in any discussions). The motion was amended (recognized by Luke Phenicie) to allow either Wade Achenbach or Brad Johnson to be the signatory on any documents associated with the pursuit of the competitive project. The motion, as amended, was seconded by Wade Achenbach. Brad Johnson called for discussion regarding the motion: Luke Phenicie asked for clarification as to timing related to due date as to the GDI submittal response to the competitive offering. Wayne DeLong responded that the due date was October 31, 2016 at 12:00pm (and the response will not include an executed Purchase Agreement). As presented and amended, the motion was unanimously approved. b. Creekside Corporate Park Appraisers: Wayne DeLong summarized the interests of Staff to identify professionals to appraise Creekside related to a ‘mass disposal process” (as opposed to appraising individual lots and establishing individual values) for Creekside. In summary, Staff is seeking authorization to contact appraisers in an effort to identify at least two professionals who would be in a position to prepare Real Estate Appraisals associated with Creekside (to establish the appraised value of Creekside Corporate Park).  1. Action Taken: Luke Phenicie made a motion (seconded by Wade Achenbach) to authorize Staff to seek proposals from at least two Real Estate Appraisers regarding the disposal of Creekside Corporate Park. The motion was unanimously approved. 1 C. Other Business No other business D. Adjournment (the meeting adjourned at 5:50pm) Respectfully Submitted, Mark Plassman, Secretary The next meeting of the Redevelopment Commission is scheduled for November 4, 2016 at 9:00am. 1 Upon the conclusion of the motion process the RDC discussed the current assessed values (of both land and vertical improvements) found within of Creekside Corporate Park related to values previously anticipated by the RDC, and the need for claw backs as to potential future incentives in the event that target assessed values are not achieved by any given project.