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Zionsville Redevelopment Commission (ZRDC)

Regular Meeting

Zionsville, IN · December 11, 2020

AgendaMinutes

Minutes

ZIONSVILLE REDEVELOPMENT COMMISSION (“RDC”) SPECIAL MEETING MEMORANDA FOR Friday, December 11, 2020 at 10:00 am Via Video Conference THIS SPECIAL 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, Cindy Madrick, and Kate Swanson. 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 10:00 am. 2. General Public recognized as attending: John Tousley, Tina Mills, Joe Demaree 3. Reports A. TIF Report: Wayne DeLong reviewed current TIF activity and project updates. 4. Old Business: None 5. New Business A. Community Development Corporation Recommendations for Grants: 1) Zogman Enterprises d/b/a Good Impressions Printing by Charles Herzog Mr. Herzog was not available for this meeting. Mr. Kilmer presented a summary of the request for the grant. The business has been in Zionsville for 27 years. The grant monies would be utilized to upgrade their website. Motion: Kent Esra made a motion (seconded by Cindy Madrick) to approve the grant of $10,000.00 to Good Impressions Printing. Roll Call Vote: Kent Esra - Y Cindy Madrick - Y Kate Swanson – Y Sanjay Patel - Y The motion was unanimously approved by a roll call vote of those members present. 2) The Scoop by Joe Demaree Mr. Demaree presented a summary of their 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 added online ordering from their website. They are also looking add social media and event coordinator. Motion: Cindy Madrick made a motion (seconded by Kate Swanson) to approve the grant of $10,000.00 to The Scoop. Roll Call Vote: Sanjay Patel - Y Kate Swanson - Y Cindy Madrick - Y Kent Esra - Y The motion was unanimously approved by a roll call vote of those members present. 3) Blue Moon Hairplace by Tina Mills Ms. Mills presented a summary of their request for the grant and explained their business model. She has been in Zionsville for 24 years. Covid hit her business hard and she detailed the expenses to which the grant monies would be applied. This includes a new hydraulic chair, marketing efforts, cleaning supplies, and PPE. Motion: Kent Esra made a motion (seconded by Cindy Madrick) to approve the grant of $10,000.00 to Blue Moon Hairplace. Roll Call Vote: Kate Swanson - Y Sanjay Patel - Y Kent Esra - Y Cindy Madrick - Y The motion was unanimously approved by a roll call vote of those members present. 4) Holistic Practice Massage Therapy by Vikki Soliday and Norma Keywan Ms. Soliday and Ms. Keywan presented a summary of their request for the grant. The initial request was for $5,000.00, however through the discussion with the CDC, the CDC recommends increasing the grant amount to $7,500.00 to allow for unforeseen expenses in combining their marketing efforts. Currently, the two have separate websites and the CDC has recommended a rebranding of the independent operations into a single provider. Ms. Soliday explained their business models and how they are adjusting as the pandemic has adversely affected their operations. Mr. DeLong further explained the CDC’s recommendation of the increased grant amount. Motion: Kent Esra made a motion (seconded by Cindy Madrick) to approve the grant of $10,000.00 to Holistic Practice Massage Therapy. Roll Call Vote: Kate Swanson - Y Cindy Madrick - Y Sanjay Patel - Y Kent Esra - Y The motion was unanimously approved by a roll call vote of those members present. B. Creekside Corporate Park - Lots 10 & 11: Discussion regarding the Term Sheet with Formation Investments. Mr. Mr. Crist stated Formation Investments would be the development team, but not the end user. This Term Sheet is similar to the earlier Term Sheet utilized earlier this year for these same lots within Creekside Corporate Park. This Term Sheet would prevent negotiations on these parcels with any other entities for a period of 60 days with an option for a 30 day extension. Motion: Kent Esra made a motion (seconded by Kate Swanson) to approve the Term Sheet for Lots 10 & 11 in Creekside Corporate Park with Formation Investments. Roll Call Vote: Sanjay Patel - Y Kent Esra - Y Kate Swanson - Y Cindy Madrick - Y The motion was unanimously approved by a roll call vote of those members present. 6. Other Business: None The next regular meeting of the Redevelopment Commission is scheduled for Monday, December 28, 2020, at 6:30 pm. Meeting Adjourned (10:33 am) Respectfully Submitted, Kate Swanson, Secretary

Agenda

SPECIAL MEETING OF THE ZIONSVILLE REDEVELOPMENT COMMISSION Friday, December 11, 2020 10:00 a.m. (Local Time) Electronic Meeting via Zoom THIS PUBLIC MEETING WILL BE CONDUCTED PURSUANT TO GOVERNOR ERIC J. HOLCOMB’S EXECUTIVE ORDER 20-48, 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/88213836015 Webinar ID: 882 1383 6015 AGENDA 1. Call to Order 2. Recognition of Attendees who request to be noted. 3. Reports 4. Old Business 5. New Business A. Community Development Corporation Recommendations for Grants: 1) Zogman Enterprises d/b/a Good Impressions Printing: 170 W. Hawthorne St. by Charles Herzog 2) The Scoop: 305 S. Main St. by Joe Demaree 3) Blue Moon Hairplace: 105 N. Main St. by Tina Mills 4) Holistic Practice Massage Therapy: 65 E. Cedar St. by Vikki Soliday and Norma Keywan B. Creekside Corporate Park - Lots 10 & 11: Consideration of Term Sheet with Formation Investments, LLC 6. Other Business 7. Adjourn NEXT REGULAR MEETING: RDC – Monday, December 28, 2020 at 6:30 p.m. ANNEX TO THE AGENDA FOR THE DECEMBER 11, 2020, SPECIAL MEETING OF THE ZIONSVILLE REDEVELOPMENT COMMISSION In his Executive Order 20-48, 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: Friday, December 11, 2020 @ 10:00 AM Eastern Time (US and Canada) Topic: Zionsville RDC Meeting Join Zoom Meeting: https://us02web.zoom.us/j/88213836015 Webinar ID: 882 1383 6015 Or join by phone: 301-715-8592; 312-626-6799; 646-558-8656; or 253-215-8782 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: December 11, 2020 Redevelopment Commission Regular Meeting Below is an update on Redevelopment / TIF District Properties and Projects: Zionsville 106th Street TIF Hotel Tango; 10615 Zionsville Road: A Commercial Remodel Permit was issued on July 9, 2020. A Commercial Remodel Permit was issued on December 8, 2020, for the pergola. 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 December, 2020. Zionsville Medical Office Building (MOB); 10649 Bennett Parkway: A Commercial Tenant Finish Permit was issued on May 15, 2020. A Temporary Certificate of Occupancy has been issued. Aria Apartments; 11005 Octave Drive: A Temporary Certificate of Occupancy has been issued. Black Acre Brewing Company, 98 S. Main St.: A Commercial Remodel Permit was issued on April 24, 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 - 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 “I”: A Development Plan Petition for a retail building (21st Amendment) on Outlot “I” has been filed for the December 21st Plan Commission Meeting. Appaloosa Crossing - Residential Component: A Development Standards Variance Petition has been filed to establish a 20- foot front yard setback for the residential component on Blocks A & B of Appaloosa Crossing. This Variance is to be heard by the Board of Zoning Appeals on January 6, 2021. 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 Community Development Corporation Assistance Inquiry Form Business Name: Zogman Enterprises Inc (dba) Good Impressions Printing Address: 170 W. Hawthorne St. Zionsville, IN 46077 Primary Contact: Charles Herzog Contact’s Phone Number & email: 317-873-6809, giprinting@att.net Requested Assistance Amount: $ 10,000.00 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 COVID-19 Assistance 12/03/20 10.000.00 Please provide a brief description of the reason for the requested assistance and how the monies would be utilized ( rovide additional pages needed ): We have been Zionsville's Printing company for over twenty five years and would like to continue to do business here in Zionsville. These uncertian times have had an impact on us all, Our sales for the year are down considerably due to the pandemic and we are struggling. We would use the grant money to help keep us here to continue to service this great town we provide our services to. We would also use the grant to help start an online store where we can service our local businesses and provide another avenue for purchasing. 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 Doc um e ntM a na g e m e ntSyste m Proposa lfor: Good Im pre ssionsProposa l 11/4/2020 P resented By: Chris Mitchell S eniorAccountExecutive 317 459 6121 chrm itchell@ csa.canon.com CanonS olutionsAm erica,Inc. 630 W estCarm elDriveS T E130> Carm el,In46032 SolutionProposa l|1 S olutionO verview A leyantP resseroW eb-to-printS olution Ale ya ntPre sse ro offe rsrob ustB2C a nd B2B store fronts a tva lue d rive n pric e s. 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Main St. Primary Contact: Joe Demaree Contact’s Phone Number & email: 317-361-9728 thescoopmainstreet@gmail.com 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 PPP Loan 4//5/2020 $28,939.42 Granted Disaster Loan Assistance 4/2/2020 $10,000.00 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): Covid-19 has had a very negative impact on the Scoop, particularly in March and April when shutdowns were at their peak. We actually had to close our doors for just over a month as many of our employees' parents were uncomfortable with their kids working. When we reopened, sales were much lower without baseball/softball games at Lions Park. This grant would provide money for marketing, specifically for a new social media/event cordinator position next season ($8,000) and improving our website and online ordering ($2,000). Thank you for your consideration. 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 From: Tina Mills (via Google Docs) To: Zionsville Community Development Subject: CDC Assistance Inquiry Form Date: Wednesday, December 9, 2020 9:49:08 AM moonfaerie52@gmail.com has attached the following document: CDC Assistance Inquiry Form Snapshot of the item below: Community Development Corporation Assistance Inquiry Form Business Name: Blue Moon Hairplace Address: 105 N. Main Street Primary Contact: Tina Patrice Mills Contact’s Phone Number & email: 765-891-2562 moonfaerie52@gmail.com 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: Program Date of Amount of Current Application Request Status: Granted, Denied, Pending, Other Please provide a brief description of the reason for the requested assistance and how the monies would be utilized (Provide additional pages as needed.): I have been a business owner of my salon since November 25, 1996...one of the longest standing salons in the Village. I am a one chair salon and always have been. I have worked extremely hard to maintain my salon over the years but the Covid-19 has hit me the hardest and I am a divorced/single person, so I don’t have someone to be able to fall back on during this crisis. I would like to request money to help in some recovery due to the closing of my salon because of Covid-19. Within this request I would like to use it for new signage, advertising/marketing, a new salon chair (salon improvements), utilities, rent, liability insurance I had to pay while closed. I appreciate your time and consideration and will have more detail at the meeting on Friday. Thank you! Sincerely, Tina Patrice Mills 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 Google Docs: Create and edit documents online. Google LLC, 1600 Amphitheatre Parkway, Mountain View, CA 94043, USA You have received this email because moonfaerie52@gmail.com shared a document with you from Google Docs. December ___, 2020 Formation Investments, LLC Attn: Wade Achenbach E-mail: achenbachwb@gmail.com RE: Creekside Office Park Development Dear Mr. Achenbach: This letter constitutes a term sheet (this "Term Sheet") regarding a proposed project between the Zionsville Economic Redevelopment Commission and its affiliated entities (collectively, "RDC"), and Formation Investments, LLC ("Formation") and a to-be formed joint venture entity between Formation and its development partners (collectively, "Developer"). The parties acknowledge the purpose of this Term Sheet is to memorialize the parties’ understanding with respect to the potential terms of a mutually acceptable development agreement to plan and develop the project described in this Term Sheet. 1. The Project. The RDC owns property in the Town of Zionsville ("Town") that is commonly known as the Creekside Office Park ("Creekside"), which the RDC has invested significant resources to construct roads, utility connections and other infrastructure to support the commercial development of Creekside. Developer is interested in developing a commercial office building for lease to a single commercial tenant in Creekside (the "Project"). Creekside is platted as a series of numbered lots. The RDC is willing to convey Lots 10 and 11 in Creekside (the "Property") to Developer for use in the Project upon the conditions contained in this Term Sheet. The RDC estimates the Property is worth approximately Two Million Three Hundred Eighty Thousand Dollars ($2,380,000) and has installed infrastructure with a value of approximately Four Hundred Thirty-Two Thousand One Hundred Sixty Dollars ($432,160). 2. The Property. The RDC shall convey the Property to Developer for ten dollars ($10.00) at the financial closing for the Project provided Developer does the following: (i) constructs a commercial office building that contains sixty to one hundred thousand square feet (the "Building"), (ii) executes a ground lease or building lease (the "Lease") with a corporate or regional headquarters user that intends to employ at least three hundred (300) to four hundred (400) people on a full time basis in the Building, and (iii) agrees to obtain the RDC's approval of the transfer of Developer's interest in the Project, including the conveyance of the Property and assignment of the Lease, to a party not affiliated with Developer or its principals. For purposes of clarity the approval upon transfer sunsets upon completion of the project. The parties acknowledge the square footage of the Building and the potential number of full-time employees is an estimate only and the RDC reserves the right to conduct diligence on these issues before executing the Development Agreement, however approval will not be unreasonably withheld. (defined in paragraph 4). 1 I\15850191.2 3. Due Diligence. For a period beginning on the mutual execution of this Term Sheet and ending on the expiration of the Exclusivity Period (defined in paragraph 7), Developer shall have the right to access the Property (and any adjacent property the RDC owns) to conduct due diligence reviews and investigations of the Property and the Project, including, without limitation, a review of the Property’s physical condition, environmental issues, zoning, design and architectural concerns, construction pricing, and title and survey matters to determine the feasibility of the Project on the lots. Developer shall have the obligation to indemnify, defend and hold harmless the RDC against any claims, liabilities or costs the RDC incurs that are associated with Developer’s investigation of the lots or rights granted in this paragraph 3. Before exercising its rights in this paragraph 3, Developer shall add the RDC as an additional insured under its commercial general liability insurance policy and shall provide written proof of such coverage under an Accord coverage disclosure form. Developer’s insurance shall have policy limits of $1,000,000 per occurrence and $2,000,000 in the aggregate. 4. Development Agreement. Upon Developer’s written notice to the RDC, the RDC’s legal counsel shall prepare a development agreement between the RDC and Developer within thirty (30) days that memorializes this Term Sheet and any other mutually agreeable terms between the parties (the "Development Agreement"). The term of the Development Agreement shall commence as of the date of mutually execution and continue until the earlier of (i) the date the Project is completed and Developer has performed all of the services Developer is required to perform under the Development Agreement or (ii) Developer’s failure to obtain substantial completion of the Project Improvements (defined in paragraph 5) by an outside date negotiated between the parties based upon the tenant’s project plans. Developer further acknowledges the RDC is a body politic of the State of Indiana and shall have to approve the final Development Agreement in accordance with all applicable Indiana laws before the RDC can execute the Development Agreement. 5. Construction of the Project. Developer shall endeavor to construct the Building and all other improvements with respect to the Project (the "Project Improvements") in accordance with the final terms of the Development Agreement. The Development Agreement shall contain provisions for the development of plans and specifications for the Project with the input and approval of the tenant, description of the financing of and establish the construction schedule for the Project Improvements and any other terms necessary to effectuate the development, construction and operation of the Project and the Project Improvements (collectively, the "Plans and Specifications"). Developer shall provide information regarding the Plans and Specifications on an open book basis to the RDC on a to-be agreed upon schedule, which shall have the obligation to keep the financing portions and other proprietary information confidential under the applicable safe harbor provisions of Indiana’s Access to Public Records Act ("APRA"). If the Project Improvements are not commenced or completed by a mutually agreed-upon outside date in the Development Agreement, title to the Property shall revert to the RDC (the "Reversion"). The Development Agreement will address reimbursement of certain costs and financing of Developer in the event the RDC exercises the Reversion. The Reversion 2 I\15850191.2 shall be subject and subordinate to the tenant’s rights in the Lease and any mortgage or other liens securing Developer's Project financing 6. Confidentiality. To the extent the RDC is able to do so under the APRA and all other applicable public disclosure laws, the RDC will maintain the confidentiality of any information Developer provides regarding the Project until a mutually agreeable date in the Development Agreement and shall not disclose such terms to third parties without the mutual agreement of the parties. 7. Exclusivity. Immediately upon execution of this Term Sheet, the RDC will cease all negotiations with potential purchasers, developers, partners and/or tenants with respect to the Property other than between the RDC and Developer. The RDC shall not, directly or indirectly, solicit, engage, commit to or negotiate with any potential purchaser, developers, partners and/or tenants with respect to the Property for a period of sixty (60) days (the "Exclusivity Period"). Immediately upon execution of this Term Sheet, Developer shall cease negotiations with any other party regarding the purchase, lease or other type of real property acquisition to develop the Project on a site other than the Property. Developer shall have the right to extend the Exclusivity Period for one period of thirty (30) days upon written notice to the RDC on or before five (5) days before the expiration of the original sixty day exclusivity period. 8. Term and Binding Effect of Term Sheet. The RDC and Developer acknowledge and agree that this Term Sheet is not a binding agreement, contract or a contractual offer, and except for the provisions of paragraphs 3, 6 and 7, neither party shall be bound by its terms. The RDC and Developer do not intent to be bound and the parties shall have no obligation to proceed with the Project until, as a result of further negotiations the parties execute the Development Agreement. Except for the provisions of paragraphs 3, 6 and 7, no party shall have any legal rights or obligations with respect to the other party or shall be responsible for any action or failure or failure to take any action in detrimental reliance until the Development Agreement is negotiated and executed by the RDC and Developer. It is understood by both parties that this Term Sheet is merely a guide to the preparation of a mutually satisfactory Development Agreement and is intended as a general outline to the terms and conditions for the Development Agreement. Notwithstanding the foregoing, the parties shall be obligated to negotiate the Development Agreement in good faith upon execution of this Term Sheet. This Term Sheet may be terminated upon written notice by either party, except for the provisions of paragraphs 3, 6 and 7 shall continue. Neither Developer or the RDC shall have the right to recover monetary damages of any kind, including direct, indirect, consequential, punitive, special or exemplary damages against a breaching party for their breach of their obligations in paragraphs 6 and 7 as it is the parties’ intent the remedies for such breach shall be limited to declaratory action or another form of equitable relief that does not involve the recovery of damages or lis pendens or other statutory or common law liens against the Property. 9. Authority. The RDC's signatory certifies that he or she is properly authorized as a representative or agent of the RDC to execute this Term Sheet. Developer's signatory certifies that he or she is properly authorized as a member, employee, representative, agent 3 I\15850191.2 or officer of Developer to execute this Term Sheet. This Term Sheet can be executed via electronic means in one or more counterparts. The Zionsville Redevelopment Formation Investments, LLC Commission By: _______________________________ By: _____________________________ Sanjay Patel, President Name: ____________________________ Date: ________________, 2020 Title: ______________________________ Date: ________________, 2020 4 I\15850191.2

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