Zionsville Redevelopment Commission (ZRDC)

REGULAR MEETING OF THE ZIONSVILLE REDEVELOPMENT COMMISSION Monday, November 23, 2020 6:30 p.m. (Local Time) Electronic Meeting via Zoom THIS PUBLIC MEETING WILL BE CONDUCTED PURSUANT TO GOVERNOR ERIC J. HOLCOMB’S EXECUTIVE ORDERS 20-02, 20-04, 20-08, AND 20-26, AND GOVERNOR HOLCOMB’S EXERCISE OF HIS POWERS UNDER INDIANA’S EMERGENCY MANAGEMENT AND DISASTER LAW, IND. CODE 10-14-3, et seq. ADDITIONAL INFORMATION REGARDING THE MEETING IS PROVIDED IN THE ANNEX PUBLISHED WITH THIS AGENDA. Please click the following link to join the webinar: https://us02web.zoom.us/j/83813570999 Webinar ID: 838 1357 0999 AGENDA 1. Call to Order 2. Recognition of Attendees who request to be noted. 3. Reports 4. Old Business A. Approval and Adoption of Minutes: October 26, 2020, Regular Meeting (Conducted Electronically) 5. New Business A. Annual Taxing Unit Presentation B. Community Development Corporation Recommendations for Grants: 1) Salon G: Melissa & Tim Gee 2) Blooming Life Yoga Studio: Geoff & Kristen Barfield C. Creekside Corporate Park - Lots 10 & 11: Update regarding potential development deal 6. Other Business A. Schedule of 2021 RDC Meeting Dates 7. Adjourn NEXT REGULAR MEETING: RDC – Monday, December 28, 2020 at 6:30 p.m.  ANNEX TO THE AGENDA FOR THE NOVEMBER 23, 2020, REGULAR MEETING OF THE ZIONSVILLE REDEVELOPMENT COMMISSION In his Executive Orders 20-02, 20-04, 20-08, and 20-26 (collectively, the “Executive Orders”), Governor Eric J. Holcomb has ordered all political subdivisions of the State of Indiana to limit public gatherings and to implement the Centers for Disease Control and Prevention’s and the Indiana State Department of Health’s recommended virus mitigation strategies. The Executive Orders suspend certain requirements for Essential Governmental Functions that facilitate Essential Infrastructure with respect to public meetings and open door laws, including suspending physical participation requirements by members of public agency governing bodies and permitting public attendance through electronic means of communications. As a political subdivision of the State of Indiana, the Zionsville Redevelopment Commission (the “RDC”) must comply with the Executive Orders throughout the duration of the COVID- 19 Public Health Emergency. According, all public meetings of the RDC shall be conducted in the following manner until the end of the COVID-19 Public Health Emergency: 1. Members of the public shall have the right to attend RDC Public Meetings via the following forms of electronic communication: When: Monday, November 23, 2020 @ 6:30 PM Eastern Time (US and Canada) Topic: Zionsville RDC Meeting Join Zoom Meeting: https://us02web.zoom.us/j/83813570999 Webinar ID: 825 0834 8482 Or join by phone: 312-626-6799; 646-558-8656; 301-715-8592; 346-248-7799; or 669-900-9128 2. Members of the public shall have the option of recording their attendance at the RDC Public Meetings via electronic roll call at the start of the meeting or via e-mail at rkilmer@zionsville-in.gov 3. If a member of the public would like to attend a RDC Public Meeting, but cannot utilize any of the access methods described above, please contact Roger Kilmer at 317-690-6539 or at rkilmer@zionsville.gov for assistance. 4. The RDC will continually revisit and refine the procedures in this Annex to address public accessibility to RDC Public Meetings during the COVID-19 Public Health Emergency. 5. If a member of the public requires assistance connecting to the RDC Public meeting, please contact Roger Kilmer at 317-690-6539 or at rkilmer@zionsville-in.gov  MEMORANDUM TO: Zionsville Redevelopment Commission FROM: Wayne DeLong, AICP, CPM Director of Planning & Economic Development RE: November 23, 2020 Redevelopment Commission Regular Meeting Below is an update on Redevelopment / TIF District Properties and Projects: Zionsville 106th Street TIF 106th & Bennett, LLC, 10650 Bennett Parkway: A Commercial Remodel Permit was issued on September 15, 2020, for JB Adams Storage Space. This work was approved for a Certificate of Occupancy on November 4, 2020. AES Restaurants, 10440 Bennett Parkway: A Development Plan Approval from the Plan Commission for a 12,000± square foot office building was approved on July 20, 2020. Petitioner has indicated construction is to start in November, 2020. Zionsville Medical Office Building (MOB); 10649 Bennett Parkway: A Commercial Tenant Finish Permit was issued on May 15, 2020. Final inspection of Project scheduled for November 18, 2020. Aria Apartments; 11005 Octave Drive: A Temporary Certificate of Occupancy for the pool maintenance building was issued on July 31, 2020. Black Acre Brewing Company, 98 S. Main St.: A Commercial Remodel Permit was issued on April 24, 2020. Hotel Tango; 10615 Zionsville Road: A Commercial Remodel Permit was issued on July 9, 2020. Petitioner has filed a Development Plan Amendment for an alternative solution addressing the outdoor patio area. This Petition was approved at the November 16, 2020 Plan Commission Meeting. TriCo Addition; 7236 Mayflower Park Drive: A Commercial Remodel permit was issued on April 6, 2020, for an office addition/remodel. Approved for Certificate of Occupancy on November 16, 2020. CR 300 S & US 421 TIF Appaloosa Crossing: An earthwork pre-construction meeting was held on July 20, 2020, and a grading permit was issued on July 28, 2020. Multiple outlot pads have been developed. Appaloosa Crossing - Outlot “I”: A Development Plan Petition for a multi-tenant building on Outlot “I” was approved at the November 16, 2020 Plan Commission Meeting. Appaloosa Crossing - Master Signage Program: A Development Plan Petition for a Master Signage Program has been filed and was continued at the November 16, 2020 Plan Commission Meeting to the December 21st Meeting. Appaloosa Crossing - Outlot “J”: A Development Plan Petition for a retail building (21st Amendment) on Outlot “J” has been filed for the December 21st Plan Commission Meeting. Projects Creekside Corporate Park (RDC): The following tasks are underway: • Marketing of property & Review of Purchase Agreements and Letters of Intent • Stormwater mitigation project (CBBEL) Creekside Corporate Park (CDC): The following tasks are underway: • Seasonal maintenance, selective tree removal due to disease and damage CC: Emily Styron, Mayor Julie Johns-Cole, Deputy Mayor  ZIONSVILLE REDEVELOPMENT COMMISSION (“RDC”) REGULAR MEETING MEMORANDA FOR Monday, October 26, 2020 at 6:30 pm Via Video Conference THIS PUBLIC MEETING WAS CONDUCTED PURSUANT TO GOVERNOR ERIC J. HOLCOMB’S EXECUTIVE ORDERS 20-02, 20-04, 20-08 AND 20-26, AND GOVERNOR HOLCOMB’S EXERCISE OF HIS POWERS UNDER INDIANA’S EMERGENCY MANAGEMENT AND DISASTER LAW, INDIANA CODE 10-14-3, et seq. Members Present via ZOOM Webinar (audio and video): Sanjay Patel, President; Kent Esra; Colleen Hittle, Mike Shafer, and Kate Swanson (via telephone). Also Present: Brian Crist, Legal Counsel, Wayne DeLong, AICP, CPM Director of Planning & Economic Development, and Roger Kilmer, Planner I - Economic Development. 1. Call to Order: Sanjay Patel called the meeting to order at 6:35 pm. 2. General Public recognized as attending: John Tousley, Sally Zelonis, Tracy Dull, Tom Casalini, Jacob and Wendi Louks 3. Reports A. TIF Report: Wayne DeLong reviewed current TIF activity and project updates. 4. Old Business A. Approval and Adoption of Minutes: September 28, 2020, Regular Meeting (Conducted Electronically). Motion: Colleen Hittle made a motion (seconded by Kate Swanson) to approve the adoption of the Minutes for September 28, 2020, Regular Meeting. Roll Call Vote: Kate Swanson - Y Sanjay Patel - Y Colleen Hittle - Y The motion was unanimously approved by a roll call vote of those members present. 5. New Business A. Community Development Corporation Recommendation for Grant: 1) Blooms by Dragonfly: Wendi Louks, 176 S. Main Street Mrs. Louks presented a summary of her request for the grant and explained their business model and how they are adjusting as the pandemic has adversely affected their operations. Motion: Kent Esra made a motion (seconded by Colleen Hittle) to approve the grant of  $10,000.00 to Blooms by Dragonfly. Roll Call Vote: Kent Esra - Y Kate Swanson - Y Colleen Hittle - Y Sanjay Patel - Y The motion was unanimously approved by a roll call vote of those members present. Mrs. Louks thanked the RDC for the approval of this grant. 2) Frances+Parke: Tracy Dull, 20 N. Main Street Mrs. Dull presented a summary of her request for the grant and explained their business model and how they are adjusting as the pandemic has adversely affected their operations. The business has never had a formal marketing plan and looks to establish one in addition to social media activity and advertising. Motion: Colleen Hittle made a motion (seconded by Kent Esra) to approve the grant of $6,000.00 to Frances+Parke. Roll Call Vote: Sanjay Patel - Y Kent Esra - Y Colleen Hittle - Y Kate Swanson - Y The motion was unanimously approved by a roll call vote of those members present. Mrs. Dull thanked the RDC for the approval of this grant. 3) The Village Antique Mall: Mike Gogis for Marina Bedell, 45 S. Main Street Mr. Gogis presented a summary of the grant request on the behalf of Marina Bedell of the Village Antique Mall and explained that the grant monies will be utilized to replace lost revenue; improve their physical appearance (a new sign); and to develop a website with the ability to shop online. The applicant was guided to seek additional funds related to the related building improvements through other grant opportunities from the Town. Motion: Colleen Hittle made a motion (seconded by Kent Esra) to approve the grant of $7,500.00 to the Village Antique Mall. Roll Call Vote: Colleen Hittle - Y Kate Swanson - Y Kent Esra - Y Sanjay Patel - Y The motion was unanimously approved by a roll call vote of those members present. 4) Casalini Portraits: Tom Casalini, 10 ½ N. Main Street Mr. Casalini presented information on Casalini Portraits and his request for the grant. Mr. Casalini explained that the grant monies will allow them to replace the printers needed for his  work as the ink has been discontinued for his current printers. Mr. Casalini has also had to delay the launch of his most recent book due to the pandemic. He will utilize the grant monies for the printers and to develop his website for the portraits and his book launch. Motion: Colleen Hittle made a motion (seconded by Kent Esra) to approve the grant of $10,000.00 to Casalini Portraits. Roll Call Vote: Sanjay Patel - Y Kent Esra - Y Kate Swanson - Y Colleen Hittle - Y The motion was unanimously approved by a roll call vote of those members present. Mr. Casalini thanked the RDC for this grant and their efforts to help the community. B. Creekside Corporate Park - Lots 10 & 11: Discussion regarding potential development deal. Mr. DeLong introduced the potential office building project as one that would tie up Lots 10 & 11 in Creekside. Mr. Crist stated that he has had discussions with the principals of the project, and they clarified that they would not need to tie up the lots via a binding agreement, but the project may need to develop a term sheet indicating a level of interest from the RDC. This would only limit the RDC in discussing the availability of the lots with other opportunities during a set period of time. Options for the RDC at this time include: 1. Negotiate a term sheet, which would need to be approved by the RDC prior to signing; 2. Pre-approve a conceptual term sheet where specified members of the RDC could negotiate on behalf of the RDC. Mr. Crist added that the development team would need a period of exclusivity for the lots allowing them their due diligence period. Motion: Kent Esra made a motion (seconded by Colleen Hittle) to allow Mr. Patel and Mr. Esra to negotiate a term sheet with the developer, in that the only binding portion of the term sheet is related to the timing of an exclusivity period for the developer and that the RDC will not discuss these lots with other developers. Roll Call Vote: Kent Esra - Y Kate Swanson - Y Colleen Hittle - Y Sanjay Patel - Y The motion was unanimously approved by a roll call vote of those members present. 6. Other Business A. Mr. DeLong noted that the Annual Report will be presented at the November RDC Meeting. B. Mr. DeLong informed the RDC that he available funds for the grant program is growing thin. C. Mr. DeLong shared that the wetlands on Lot 14 of Creekside Crossing has been processed and the permit has been secured. In the process, Christopher Burke Engineering’s expenses were  increased due to the expedition of the permit. Mr. Patel stated that he reviewed the additional costs and found them to be appropriate and recommended the additional cost be approved. Motion: Kate Swanson made a motion (seconded by Kent Esra) to approve the additional costs to be paid to Christopher Burke Engineering related to the wetland permit approval for Lot 14 of Creekside Corporate Park: Roll Call Vote: Colleen Hittle - Y Kate Swanson - Y Kent Esra - Y Sanjay Patel - Y The motion was unanimously approved by a roll call vote of those members present. The next regular meeting of the Redevelopment Commission is scheduled for Monday, November 23, 2020, at 6:30 pm. Meeting Adjourned (7:24 pm) Respectfully Submitted, Kate Swanson, Secretary TIF Overview TIF OVERVIEW Huntingburg Redevelopment Zionsville CommissionRedevelopment Commission Crowe LLP October 20, 2020 November 23, 2020 Presentation Agenda Purpose of the Presentation Overview of Allocation Areas, Budgets and Future Projects Impact Discussion Allocation Area Highlights © 2020 Crowe LLP 2  Purpose of the Presentation © 2020 Crowe LLP 3 Purpose of Presentation (per IC 36-7-25-8) Presented to Taxing Units with Territory in a TIF Allocation Area Annual TIF Presentation Requirements (Must be Presented at Public Meeting) Redevelopment Impact on Long-Term Commission’s Overlapping Plans Budget Taxing Units © 2020 Crowe LLP 4  Overview of Allocation Areas, Budgets, and Future Projects © 2020 Crowe LLP 5 Allocation Areas - Overview Zionsville Oak Street 2015 Creekside Metro 146th Street Holliday Economic Allocation 334/700 Allocation FiberNet Allocation Farms Development Area Allocation Area Allocation Area Allocation Area Area Area (1) Area Declaratory February 14, December October October 26, November August 28, September Resolutions 2000, 22, 2014 26, 2015 2015 28, 2016, 2017 23, 2019 and as amended as Amendments May 8, 2000, amended & January October 26, 23, 2017 2015 Base Date March 1, March 1, March 1, March 1, January 1, January 1, January 1, 1999 2014 2015 2015 2016 2017 2019 Expiration May 8, 2030 (2) (2) October 26, March 8, (2) (2) Date 2040 2042 (1) Includes Designated Taxpayer for purposes of capturing personal property. (2) TIF Allocation Area will expire 25 years from when the TIF revenues are pledged to obligations. © 2020 Crowe LLP 6  Historical Net Assessed Value (NAV) 2016 - 2020 Zionsville EDA Oak Street Allocation Area 140,000,000 35,000,000 120,000,000 30,000,000 100,000,000 25,000,000 80,000,000 20,000,000 60,000,000 15,000,000 40,000,000 10,000,000 20,000,000 5,000,000 - - 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Base AV Incremental AV Base AV Incremental AV © 2020 Crowe LLP 7 Source: Boone County Auditor’s Office  Historical NAV 2016 – 2020 (con’t.) 2015 Zionsville 334/700 Allocation Area Creekside Allocation Area 4,000,000 10,000,000 3,500,000 9,000,000 3,000,000 8,000,000 2,500,000 7,000,000 2,000,000 6,000,000 5,000,000 1,500,000 4,000,000 1,000,000 3,000,000 500,000 2,000,000 - 1,000,000 2016 2017 2018 2019 2020 - Base AV Incremental AV 2016 2017 2018 2019 2020 Metro FiberNet Allocation Area Base AV Incremental AV 350,000 300,000 250,000 200,000 Note: The 146th Street and Holliday Farms allocation 150,000 areas did not generate incremental assessed value in 100,000 50,000 pay years 2016-2020. - 2016 2017 2018 2019 2020 Base AV Incremental AV © 2020 Crowe LLP 8 Source: Boone County Auditor’s Office TIF Revenue Collections – Five Year Look Back (2016- 2020) TIF Revenues $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $- 2016 2017 2018 2019 2020 Zionsville Oak Street 334/700 Creekside Metro FiberNet Note: The 146th Street and Holliday Farms allocation areas did not generate incremental assessed value in pay years 2016-2020 and thus no TIF revenues have been collected in these allocation areas. Pay year 2016-2019 revenues are as reported in the corresponding annual financial report. Pay year 2020 revenues are estimated based on pay year 2020 incremental assessed value and net tax rates. Source: Boone County Auditor’s Office © 2020 Crowe LLP and Indiana Gateway. 9  Outstanding TIF Debt Zionsville Redevelopment Municipal Sewage Authority Economic Zionsville Redevelopment Works Revenue Bonds Development Lease Rental Authority Lease Rental Revenue Bonds, Series Revenue Bonds, Series of 2010 (SRF) 2016 2012 • Issuance Amount - • Issuance Amount - $3.4M • Issuance Amount - $1.254M • Outstanding - $1.565M $5.37M • Outstanding - $656K • Final Payment – 2/1/2025 • Outstanding - $5.01M • Final Payment – 1/15/2029 • Purpose – Road and • Final Payment – 2/1/2031 • Purpose – Sewage Works Public Infrastructure • Purpose – Infrastructure, Improvements Improvements to Bennett Land, and Road Parkway Project Improvements at Creekside Corporate Park © 2020 Crowe LLP Source: Town of Zionsville 10 Bond Documents  Outstanding TIF Debt (con’t.) Taxable Economic Zionsville Redevelopment Zionsville Town Hall Development Revenue Authority Economic Building Corporation First Bonds, Series 2017 (Metro Development Lease Rental Mortgage Note of 2016 FiberNet Project) Refunding Bonds of 2017 • Par Amount - $10.25M • Issuance Amount - • Issuance Amount - • Outstanding - $8.833M $1.5M $3.715M • Final Payment – 1/1/2037 • Outstanding - $1.5M • Outstanding - $2.73M • Purpose – Construction • Final Payment – • Final Payment – of New Town Hall 2/1/2042 2/1/2028 • Purpose – Facility • Purpose – Refunded Construction for Metro the Redevelopment FiberNet Project Authority’s Economic Development Lease Rental Bonds of 2008 © 2020 Crowe LLP Source: Town of Zionsville 11 Bond Documents Estimated 2021 Budget Zionsville Oak Metro EDA Street 334/700 Creekside FiberNet Total Estimated Revenues Estimated TIF Revenues $ 1,929,560 $ 267,139 $ 60,766 $ 149,416 $ 26,101 $ 2,432,982 Total Estimated Revenues $ 1,929,560 $ 267,139 $ 60,766 $ 149,416 $ 26,101 $ 2,432,982 Estimated Expenditures/Uses 2010 Bond Payment $ 86,956 $ 86,956 2012 Bond Payment 372,000 372,000 2017 Bond Payment 406,500 406,500 Town Hall Note Payment $ 250,000 250,000 2016 Bond Payment 82,584 $ 149,416 232,000 2017 Metro FiberNet Bond Payment $ 26,101 26,101 Capital Expenditures/Fund Balance 981,520 17,139 $ 60,766 - - 1,059,425 Total Estimated Expenditures/Uses $ 1,929,560 $ 267,139 $ 60,766 $ 149,416 $ 26,101 $ 2,432,982 Note: Estimated TIF revenues are based on pay year 2021 incremental assessed valuations provided by the Boone County Auditor’s Office and pay year 2020 net tax rates provided by the Department of Local Government Finance (DLGF). No TIF revenues are estimated in the 146th Street and Holliday Farms Allocation Areas for pay year 2021 as no incremental assessed value is expected in pay year 2021. © 2020 Crowe LLP 12 Future Projects (Long-Term Plans) • Zionsville Gateway Study Area -public & infrastructure improvements -First Street enhancements • Michigan Road / US 421 corridor -public & infrastructure improvements • County Road 700 East -public & infrastructure improvements © 2020 Crowe LLP 13  Impact Discussion © 2020 Crowe LLP 14 Certified Pay 2020 Tax Rates Applicable to TIF Tax rate is equal to the applicable taxing district; however, the taxes generated from the School Corporation’s Referendum Fund flow to the School and not to the TIF Zionsville Oak 2015 Creekside Metro 146th Holliday EDA Street 334/700 FiberNet Street Farms 006 Zionsville Corporation $2.0691 $2.0691 $2.0691 005 Eagle/Zionsville Rural District $1.8681 $1.8681 $1.8681 029 Eagle/Zionsville Urban District $2.0330 Less: Zionsville Community School Corporation - Ref Sch Post 09 (0.2355) (0.2355) (0.2355) (0.2355) (0.2355) (0.2355) (0.2355) TIF District Rate $1.8336 $1.8336 $1.6326 $1.8336 $1.6326 $1.7975 $1.6326 TIF Districts are not entitled to the tax rate associated with approved referendum funds conducted after November 1, 2009, and before May 1, 2010 (retroactive) and for any approved after April 30, 2010. Source: DLGF Memo dated June 18, 2013 (SEA 517) © 2020 Crowe LLP 15  TIF - Impact on Taxing Units • Stimulates new development that would not occur “but for” the TIF incentives • Five Year (2016-2020) Total Incremental AV captured in all TIFs - $553M • Five Year (2016-2020) Total TIF Revenues captured in all TIFs - $10.4M • New development will enhance property tax values and generate new jobs • Generation of new jobs will provide new local income tax • Enhance quality of life • When the TIF Allocation Areas expire, the NAV will be passed back to the taxing units. © 2020 Crowe LLP 16  Allocation Area Highlights © 2020 Crowe LLP 17 Allocation Area Highlights © 2020 Crowe LLP 18 Thank You Tim Berry Direct: (317) 677-1933 tim.berry@crowe.com Becca Zakowski Direct: (317) 689-5506 rebecca.zakowski@crowe.com “Crowe” is the brand name under which the member firms of Crowe Global operate and provide professional services, and those firms together form the Crowe Global network of independent audit, tax, and consulting firms. 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Visit www.crowe.com/disclosure for more information about Crowe LLP, its subsidiaries, and Crowe Global. © 2020 Crowe LLP.  TIF Refresher © 2020 Crowe LLP 20 Basic Concepts and Definitions • A city, town or county legislative body may adopt an ordinance creating a redevelopment commission of the unit comprised of five (5) members, three (3) appointed by the executive and two (2) appointed by the legislative body or fiscal body of the unit. • The executive of the unit also appoints a non-voting advisory member representing the local school board. • The redevelopment commission has jurisdiction over the redevelopment district of the unit, which is a special taxing district having the same boundaries as the unit (except for certain counties). © 2020 Crowe LLP 21  Basic Concepts and Definitions (con’t.) • Within the redevelopment district, the redevelopment commission may designate redevelopment areas or economic development areas as targeted areas for redevelopment or economic development activities, and approve a redevelopment plan or economic development plan for each area so designated. • The redevelopment commission may (but is not required to) designate all or a portion of any redevelopment area or economic development area as an allocation area for purposes of capturing incremental new taxes in the area commonly known as the “tax increment financing” or “TIF” district. Allocation Area Economic/Redevelopment Area © 2020 Crowe LLP 22  Basic Concepts and Definitions (con’t.) • After an allocation area is established, all of the assessed value in the area (as of the immediately preceding January 1) plus property assessed as residential (the base assessed value) generates property taxes for various taxing units located in the area, while subsequent increases in assessed value due to new investments in that area (incremental assessed value) are temporarily captured and set aside into a TIF allocation fund Incremental AV Redevelopment x tax rate Commission TIF Allocation Fund x tax rate Taxing Units Base AV (Previous January 1) © 2020 Crowe LLP 23  Basic Concepts and Definitions (con’t.) • The redevelopment statute requires the Department of Local Government Finance (“DLGF”) to adjust the base assessed value after each general reassessment of property and after each annual adjustment to assessed values (commonly known as “trending”), in order to neutralize the effects of these adjustments on TIF revenues. • Special provisions in statute allow the capture of depreciable personal property assessed value of designated taxpayers for certain types of projects (industrial, manufacturing, warehousing, research and development, processing, distribution, or transportation related projects or regulated amusement devices and related improvements). © 2020 Crowe LLP 24  Basic Concepts and Definitions (con’t.) • Termination Dates • SEA 118 – provides termination date for “legacy” allocation areas • TIF area established before July 1, 1995: the TIF expires the later of 2025 or following the final maturity of outstanding debt as of July 1, 2015. • TIF area established between July 1, 1995 and July 1, 2008: TIF expires 30 years after the adoption of the Declaratory Resolution • TIF area established after July 1, 2008: TIF expires 25 years after debt is issued • HEA 1427 – stimulates the use or re-opening of buildings and structures for areas containing at least two buildings or structures that are at least 75 years old and are located at a site where manufacturing operations previously occurred for at least 75 years by providing 35 year allocation areas. © 2020 Crowe LLP 25 TIF: Basic Structure $ Assessed Value (AV) New Post-TIF AV TIF Area’s Total AV (& tax Incremental AV revenue) now belongs to all Incremental AV (& tax revenue) captured by Taxing Units RDC to fund project costs, etc. within the Taxing District Base AV AV (& tax revenue) belongs to all Taxing Units within the Taxing District overlapping the TIF Area 5 10 15 20 Created 25 year TIF Terminated © 2020 Crowe LLP 26  TIF Sharing © 2020 Crowe LLP 27 Zionsville Community School Corporation Note - Overview • Purpose: The School Corporation acquired property for construction of a new warehouse facility and maintenance facility and the Commission purchased a portion of the property from the School Corporation for redevelopment purposes. Property is located in the Zionsville Economic Development Area. • Through an amendment to the agreement, the Commission acquired the entire property, including the ZCS portion & ZCS constructed the warehouse and maintenance facility on another property • Base Purchase Price: $3,074,080 • Pledge: TIF revenues from the Original Zionsville Allocation Area and the Creekside Allocation Area • Payment Dates: Semi-annual installments were to be paid commencing February 1, 2014, and continuing through the original maturity date of February 1, 2029 • Commission prepaid the Note in full on December 27, 2019 © 2020 Crowe LLP 28 Zionsville Community School Corporation Note – TIF Sharing • Commission pledged to pay the School Corporation commencing on the TIF Sharing Commencement Date through and including February 1, 2029, 50% of the actual TIF revenues received by the Commission from the Redevelopment Portion of the Allocation Area • TIF Sharing Commencement Date: The first TIF revenue distribution date after which (1) property has been assessed in the Redevelopment Portion that will generate TIF revenues and the projected coverage of annual TIF revenues derived from the Allocation Area over the annual debt service on the existing and future obligations of the Commission has reached at least 150% and (2) the allocation fund for the Allocation Area contains a balance of at least $1M © 2020 Crowe LLP 29  MEMORANDUM TO: Zionsville Redevelopment Commission FROM: Wayne DeLong, AICP, CPM Director of Planning & Economic Development RE: Community Development Corporation - Grant Recommendation DATE: November 19, 2020 As the determiner of grants which utilize TIF Funds, the following information is provided to the Redevelopment Commission for consideration in relation to the requested grant. Applicant: Salon G Melissa and Tim Gee 270 S. Main Street Zionsville, IN 46077 Requested: $20,000.00 CDC Recommendation: $10,000.00 Review Process: A quorum of the Community Development Corporation (“CDC”) reviewed the attached materials and met with the Applicant’s representatives, Melissa and Tim Gee, on November 19, 2020, to discuss the grant request. The Applicant presented their information and their basis for the requested grant. The CDC Members presented questions to the Applicant to gain a thorough understanding of the need for the grant and to identify the anticipated purposes for which the monies would be used. Mr. and Mrs. Gee would apply the grant monies toward building a new website for their salon. They have provided a quote of $9,200.00 from Innovative for the development of the website. Additionally, the grant monies would be applied toward instruction and coaching on how to best utilize social media marketing. This instruction would include how to analyze the results of social media efforts in order to refine and manage future strategies. Recommendation: The CDC voted unanimously to recommend the amount of $10,000.00 be granted to the Applicant. The CDC chose to provide this amount as it is consistent with similar requests previously granted and recognizing that the source pool of monies for this grant program is limited with additional applications for similar grants from this program anticipated before the end of the fiscal year. CC: Emily Styron, Mayor Julie Johns-Cole, Deputy Mayor  Community Development Corporation Assistance Inquiry Form Business Name: Salon G Address: 270 S. Main Street Primary Contact: Melissa Gee Contact’s Phone Number & email: melissa@salongee.com 317-777-4384(mobile) Requested Assistance Amount: $ 20000 In the following table, please list all other County, State, and/or Federal programs to which the business has applied for Covid-related financial assistance: Current Status: Date of Amount of Granted, Denied, Program Application Request Pending, Other PPP SBA Loan April 2020 $60,000 Granted Please provide a brief description of the reason for the requested assistance and how the monies would be utilized (3rovide additional pages DV needed): I am looking to make improvements on my salons marketing plan. I am hoping to update and re-build my website and hire a social media consultant for an additional marketing platform. I currently work behind the chair full time and do all of the administrative duties so I have not had the time to manage these things on my own but there is a definite need for them. The new website build would be $10,000 and the social media consultant would be $10,000. The consultant would inculed coaching and monthly social media marketing management of my platform for 1 year. This form and any additional materials you choose to submit should be emailed to communitydevelopment@zionsville-in.gov or mailed to: Community Development Corporation Attn: Wayne DeLong 10855 Creek Way Zionsville, IN 46077 To: Melissa and Timothy Gee From: David Armstrong Date: October 30, 2020 Re: Salon G - New Website Thank you for asking INNOVATIVE to provide an estimate for building a new - mobile friendly and user friendly - website for Salon G. The INNOVATIVE process to build your new site would include: ● Account Management ● Interactive Project Management ● Strategy Meeting/Call - To better understand your needs and determine the needed pages and elements of the site. From this meeting, a detailed sitemap would be developed. ● Design - Develop, refine and build the look and layout of the site. ● Photography - Includes location scout at the salon and a half-day on-location photography including 6 head shots, group shots, salon environment shots (indoors and out) product display shots. This also includes the buyout of the photographs. ● Writing - Our copywriter will refine and finalize copy on the site. ● Programming - We would recommend building the new site within WordPress due to its flexibility and customization options. ● Revisions, Testing, Launch and Training TOTAL: $9,200 This pricing has been provided with the following understanding: ● Client will provide an initial draft of written website content (biographies, service and product descriptions, etc) or the current content can be used as a starting point, allowing INNOVATIVE to edit and update as necessary. ● This price does not include hosting costs. After more in-depth discovery, you may be able to keep your existing hosting plan or we may recommend a different, reasonably priced hosting option. ● Purchasing third-party plug-ins would be additional to the price above, but from our initial conversation, we do not anticipate a need for additional plug-ins. ● The above pricing includes two rounds of design revisions and one round of programming revisions. ● After website launch, INNOVATIVE can offer 10 hrs/month of general Website Maintenance using a rate of $100/hour. Salon G will only be billed for the time that is used. INNOVATIVE would require an up-front payment of $4,500 in order to schedule this work.The remaining amount will be invoiced upon completion of the project. All invoices are due net 30 days THE BUZZING BLONDE pricing www.thebuzzingblonde.com pricing: SOCIAL MEDIA AUDIT: $250 10 page detailed analysis of your social media platforms Custom suggestions for targeted solutions 5-10 minute personalized video with specific suggestion and feedback 15 minute follow-up call 1:1 COACHING: $200 A custom 90 minute session focused on a specific social media topic of your choice (common topics: selling on Instagram Stories, content planning, social media graphics, hashtag research) CONSULTING: $1,500 5 hours of coaching A customized content calendar Thorough explanations and practice using platform logistics A tailored social media approach leveraging the best platforms for your business needs Fully customized, hands-on learning SOCIAL MEDIA MANAGEMENT: $1,500 -$10,000 Pricing will vary based on which platforms client wants to be managed See next page for breakdown SOCIAL MEDIA STRATEGY: Starting at $2,000 A strategic social media marketing plan for your business 7 page strategy for each social media platform 1:1 coaching calls and Fully customized, hands-on learning www.thebuzzingblonde.com pricing: INSTAGRAM MANAGEMENT: $1,500/per month Instagram cleanup 4-5 Instagram posts a week per Daily Instagram stories Graphic creation Quarterly photoshoot Engagement/Monitoring Weekly or bi-weekly coaching calls Ad creation and setup (if you want) Help with email marketing (if you want) FACEBOOK MANAGEMENT: $1,500/per month Facebook cleanup 3-4 Facebook posts a week per platform Graphic creation Engagement/Monitoring Weekly or bi-weekly coaching calls Ad creation and setup (if you want) PINTEREST MANAGEMENT: $1,500/per month Pinterest cleanup 10+ pins a day (depending on blog and product content) Ad creation and setup (if you want) www.thebuzzingblonde.com  MEMORANDUM TO: Zionsville Redevelopment Commission FROM: Wayne DeLong, AICP, CPM Director of Planning & Economic Development RE: Community Development Corporation - Grant Recommendation DATE: November 19, 2020 As the determiner of grants which utilize TIF Funds, the following information is provided to the Redevelopment Commission for consideration in relation to the requested grant. Applicant: Blooming Life Yoga Studio Geoff and Kristen Barfield 30 S. Elm Street Zionsville, IN 46077 Requested: $10,000.00 CDC Recommendation: $10,000.00 Review Process: A quorum of the Community Development Corporation (“CDC”) reviewed the attached materials and met with the Applicant’s representatives, Geoff and Kristen Barfield, on November 19, 2020, to discuss the grant request. The Applicant presented their information and their basis for the requested grant. The CDC Members presented questions to the Applicant to gain a thorough understanding of the need for the grant and to identify the anticipated purposes for which the monies would be used. Mr. and Mrs. Barfield purchased Blooming Life Yoga Studio in June, 2020, in a desire to keep the business from closing due to COVID. The first months of ownership during the pandemic have been challenging and they would apply the grant monies toward operating expenses, but also toward upgrades to their technology through the purchase of Video on-demand platform services and camera equipment. Due to the pandemic, they have made many of their yoga classes available on-line, but have found to expand that portion of their business they must upgrade their technology. They would also apply the grant monies toward increased marketing efforts, teacher expansion, and toward Pilates machines to expand their offerings. Recommendation: The CDC voted unanimously to recommend the amount of $10,000.00 be granted to the Applicant. CC: Emily Styron, Mayor Julie Johns-Cole, Deputy Mayor  Community Development Corporation Assistance Inquiry Form Business Name: Blooming Life Yoga Studio + School Address: 30 S. Elm Street, Zionsville, IN. 46077 Primary Contact: Geoff Barfield Contact’s Phone Number & email: 317-645-3104 Requested Assistance Amount: $ 10,000 In the following table, please list all other County, State, and/or Federal programs to which the business has applied for Covid-related financial assistance: Current Status: Date of Amount of Granted, Denied, Program Application Request Pending, Other IEDC Grant 7/1/2020 $5,000 Granted IEDC Grant 7/27/2020 $3,124 Granted PPP Loan 7/20/2020 $10,600 Granted Boone EDC Small Business Loan 5/29/2020 $10,000 Granted EIDG Grant 7/1/2020 $10,000 Granted Please provide a brief description of the reason for the requested assistance and how the monies would be utilized (Provide additional pages as needed.): We purchased and reopened Blooming Life Yoga Studio in June 2020. Covid-19 required us to slowly reopen the studio and revenues reduced from $15k to $5k. We're slowly increasing revenue but not making profit to recover from the loss. With $10k of our personal savings we continue to luquidate that and the above loans/grants for regular operating expenses. We forecast approx. 6 months before we run out of money. This grant will be used to sustain regular operating expenses (Rent, Payroll, Merchant Fees, Technology etc.) as we continue to focus on ways to grow revenues. This form and any additional materials you choose to submit should be emailed to communitydevelopment@zionsville-in.gov or mailed to: Community Development Corporation Attn: Wayne DeLong 10855 Creek Way Zionsville, IN 46077 Blooming Life Yoga: Geoff and Kristen Barfield How will we use the funds? 1. Regular Operating Expense a. Currently operating at an average net loss of -$1195 b. Est. 6 months before we need to begin thinking about closing. c. Avg. Monthly Income = actual $7220 d. Monthly Expenses = $8415 e. Variance = -$1195 Other things we are planning to invest in: $50,000 ($2865/mo.) 1. Technology Upgrades: $1700 (100/mo.) a. Video On-Demand Platform Services: $1200 ($100/mo) b. Camera and Equipment: $1500 2. Marketing: $16000 ($915/mo.) a. Direct Mail: $5k b. Print ads: $5k ($415/mo.) c. Marketing Manager: $6k ($500/mo.) 3. Cleaning Service: $6,000 ($500/mo.) 4. Teacher Expansion: $4200 ($350/mo.) 5. Expanding our offerings: $21200 ($1k/mo.) a. Pilates Machines: $20k b. Rental Space: $1200 ($1k/mo.)  ZIONSVILLE REDEVELOPMENT COMMISSION (“RDC”) 2021 MEETING DATES Fourth Monday of the Month. All meetings begin at 6:30 pm in the Town Hall Council Chambers or via electronic meetings as needed. January 25 February 22 March 22 April 26 May 24 June 28 July 26 August 23 September 27 October 25 November 22 December 27