Zionsville Redevelopment Commission (ZRDC)

ZIONSVILLE REDEVELOPMENT COMMISSION REGULAR MEETING MEMORANDA FOR Monday, February 24, 2020 at 6:30 pm Zionsville Town Hall-Council Chambers 1100 West Oak Street Members Present: Sanjay Patel, President; Kent Esra, Vice President; Kate Swanson, Secretary; Colleen Hittle; and Cindy Madrick. Also Present: Wayne DeLong, AICP, CPM Director of Planning & Economic Development. A. Opening 1. Call meeting to order: Sanjay Patel called the meeting to order at 6:30 pm. B. Reports 1. TIF Report: Wayne DeLong reviewed current TIF activity and project updates. C. Old Business 1. The Commission considered the December 23, 2019, Memorandum (Memorandum was provided to RDC Members for review prior to the meeting). Motion: Kent Esra made a motion (seconded by Colleen Hittle) to approve the Memorandum as presented. The motion was unanimously approved by those members present. 2. Appointment of representatives to the Community Development Commission: discussion regarding Cara Weber and Brooks Mattice to place. Motion: Kate Swanson made a motion to appoint Cara Weber and Brooks Mattice to the Community Development Commission (seconded by Kent Esra). The motion was unanimously approved by those members present. D. New Business 1. Possible Sale of Lots 10 and 11 in Creekside Corporate Park: two different entities have submitted requests to purchase Lots 10 and 11. Wayne DeLong provided a summary of the two projects and proposals. Representatives of each entity addressed the RDC. a. William Tres Development: Jesse Pohlman presented their Purchase Agreement for Lots 10 & 11 and provided a description of their company’s history and abilities. The proposed development of the Lots would be a 100,000 square foot office building, including 25,000 square feet of research and development lab space, for a publicly traded corporation bringing  over 500 jobs. The end user of the building is considering Creekside, as well as other locations. Construction would begin in 12 - 18 months. b. RLL Racing: Piers Philips, President of Rahal Letterman Lanigan Racing, presented their Letter of Intent to purchase Lots 10 & 11. RLL is looking to combine their existing offices, located in Brownsburg, IN, and Columbus, OH, in Creekside Corporate Park. RLL proposes a building of 100,000 square feet. Current employees are approximately 80. All operations would be enclosed within the building. Construction would begin as soon as possible. The RDC Members chose to meet with each group, individually, at an Executive Session scheduled for Friday, February 28, 2020. William Tres Development will present at 7:30 a.m. and RLL will present at 8:45 a.m. 2. Christopher B. Burke Engineering Proposal for Drainage Study at Creekside Corporate Park: Wayne DeLong presented a summary of the requested Study, specifically for Lot 5, involving the removal of a 20-year old drainage pipe and creating an open draining system and/or wetland area. A second part of the Study would involve analysis of an existing wetland on the southern portion of Creekside, near 106th Street. Upon questions from the RDC Members, Wayne DeLong confirmed the proposal is only for the Study and not for the work to be identified. Discussion regarding the possible need for additional providers for this Study ensued, but it was determined that with Burke’s historic knowledge of Creekside Corporate Park and their known abilities through other Town projects, no other providers would be sought. Motion: Colleen Hittle made a motion to accept the proposal from Christopher B. Burke Engineering (seconded by Kent Esra). The motion was unanimously approved by those members present. 3. TIF Term Sheet for Appaloosa Crossing: Matt Price, attorney representing Harris FLP and Kite/Harris Development, introduced the project and provided background on the project. The Harris family has owned the property for over 50 years and rezoned the property in 2008 for a commercial development. Over the past 12 years, the project has changed to more of a mixed- use development to possibly include some residential uses in addition to commercial uses. The project is now before the Plan Commission for various approvals. The Term Sheet defines some of the public elements of the project which the developer hopes to finance through the TIF funds for the area. One item is the extension of existing TriCo sewer lines from the southern boundary of the project, along Michigan Road, to the property on the northeast corner Michigan Road and CR 300 South (formerly a landscape nursery), allowing for service to that property which is in this TIF District. Other public elements include the pathway systems in the area and drainage features for the area. Harris FLP has proposed the financing structure outlined on the Term Sheet and they would be the bond purchaser. The Town would have no obligation to repay the debt from its own resources. The tax increment would be the source to repay the bonds. The RDC Members asked for clarification if the proposed Term Sheet included costs for the extension of infrastructure north of CR 300 S. Mr. Price said the presented costs do not include  that amount at this time as they were not clear as to how far north of CR 300 S the Town would prefer the extension to go. Mr. Price restated that this Term Sheet is a draft in order to initiate the discussion of the topic. E. Other Business (none) Adjourn (7:44 pm) Respectfully Submitted, Kate Swanson, Secretary The next meeting of the Redevelopment Commission is scheduled for March 23, 2020 at 6:30 pm.