Zionsville Redevelopment Commission (ZRDC)

ZIONSVILLE REDEVELOPMENT COMMISSION REGULAR MEETING MEMORANDA FOR Monday, September 23, 2019 at 6:30 pm Zionsville Town Hall-Council Chambers 1100 West Oak Street Members Present: Wade Achenbach, President, Sanjay Patel, Vice-President, Kent Esra, Ben Worrell, Mike Shafer and Cassie Lee. Also Present: Wayne DeLong, AICP, CPM Director of Planning & Economic Development, Roger Kilmer, Planner I - Economic Development and Bruce Donaldson, Counsel to the Commission. A. Opening 1. Call meeting to order: Wade Achenbach called the meeting to order at 6:30 pm. B. Consideration of Memorandum 1. The Commission considered the July 22, 2019 Memorandum (Memorandum was available at the meeting) Motion: Kent Esra made a motion (seconded by Ben Worrell) to approve the Memorandum as proposed. The motion was unanimously approved by those members present. 1 C. Reports 1. TIF Report: Wayne DeLong reviewed current TIF activity. 2. Projects: Wayne DeLong reviewed current Projects in Creekside Corporate Park. 3. On-Site Inspection: A summary of the September 11, 2019 On-Site Inspection of Holliday Farms Development Site was provided. D. Old Business 1. Adoption of Declaratory Resolution regarding the establishment of an Economic Development Area / approval of the Economic Development Plan (EDP) for Holliday Farms: Wayne DeLong introduced the matter and shared that representatives of the applicant were in the audience and prepared to speak to the documents available to the Commission. Wayne DeLong directed the Commission Members through a number of technical financial documents and a map proposing the boundaries of the EDP. Bruce Donaldson noted two items which needed to be decided by 1 Sanjay Patel arrived at 6:32 pm; Cassie Lee arrived at 6:34 pm; neither Patel or Lee participated in the vote on the Memorandum.  the Commission: 1) to establish the boundaries of the EDP; and 2) to identify the estimated costs of projects to be inserted in the EDP. Sanjay Patel asked for clarification if the projects included only planned improvements for Holliday Farms or does it also include future projects the Town of Zionsville may encumber such as a pedestrian bridge. Bruce Donaldson confirmed that the projects of the EDP could definitely include the latter and whatever part of the Holliday Farms’ project list the Commission would consider eligible to finance. The Commission reviewed the project list of proposed Capital Improvements which had been submitted by the applicant. Matt Price, attorney representing the applicant, presented information that they had performed calculations to determine the amount of anticipated Tax Increment Financing generated from the development and that amount would cover their proposed projects as well as other projects above their request. Wade Achenbach asked if there is zero issue in putting in a dollar amount into the EDP that is the total cost of the potential projects in the “TIF-able” area, even if the final amount is a fraction of that amount which would be funded by TIF. Bruce Donaldson confirmed yes. Wade Achenbach then recommended the Commission add up the total cost for Holliday Farms’ projects, not including the infrastructure in the residential areas, and include costs for potential projects from the Town knowing that there is no binding tie between this amount and the final amount of TIF the Commission would issue. The mathematical process resulted in an amount of twenty million dollars ($20,000,000.00). Mike Shafer asked if the applicant had done these calculations and come to an anticipated amount. Matt Price stated that they anticipated the entire amount presented in their list of Capital Improvements would be included. Bruce Donaldson confirmed that the amount to be included in the EDA does not put a cap on the amount. Wade Achenbach then restated to be 100% clear, this action is not approving a $20,000,000.00 TIF, this action is not approving any amounts of money to go to anybody at this point, this action is only to establish the district area and to determine an amount to be included in the EDA as required by statute. No dollar amounts are being approved today and no monies are being issued today - there is a lot more work and information required by the applicant and the Town before any amounts are approved. Bruce Donaldson asked if the provided map of the area is the latest and greatest version. Matt Price confirmed yes. There was no further discussion. Motion: Kent Esra made the motion to approve Resolution 2019-01 which includes, by reference, the EDP for Holliday Farms Economic Development Area with an estimated project cost of $20,000,000.00. Ben Worrell seconded the motion. Motion passed unanimously. E. New Business 1. Annual Taxing Unit Presentation: Mark Adam of Crowe LLP offered a brief summary of the Commissions responsibility related to the Presentation and presented information related to the required three (3) areas to be covered by the Presentation (being the contemplated TIF Budgeted, Long Term Plans, and Impact of those Plans on Taxing Units). The five (5) current TIF areas within Zionsville were reviewed. Wayne DeLong presented information regarding the Long Term Plans including a First Street Plan which has been on the plans for some time. This would involve the possible improvement of First Street heading south extending the grid. Mark Adam continued the presentation with the Impact of the existing TIF areas on Taxing Units. No questions were raised based on the Presentation. Wayne DeLong noted that notice of this Presentation was sent with invitations to each of the Taxing Units to attend. Wade Achenbach asked if Metro Net has actually begun work related to the Metro FiberNet TIF. Wayne DeLong stated they are actively working within the Town. Wade Achenbach requested Metro Net be invited to a Commission Meeting to present an update on where they are working and what is  their plan and status. There was brief discussion to clarify specific line items from the 2020 Budget and their status. With no other comments or questions being offered; the discussion was concluded. Motion: Wade Achenbach made the motion to approve the 2020 Budget. Kent Esra seconded the motion. Motion passed unanimously. F. Other Business: Wayne DeLong introduced Roger Kilmer as Planner I - Economic Development. G. Adjourn (7:15 pm) Respectfully Submitted, Kent Esra, Secretary The next meeting of the Redevelopment Commission is scheduled for October 28, 2019 at 6:30 pm.