Zionsville Redevelopment Commission (ZRDC)

ZIONSVILLE REDEVELOPMENT COMMISSION (“ZRDC”) REGULAR MEETING MEMORANDA FOR Monday, January 22, 2024 at 6:30 PM In-person and Video Conference Meeting Members Present: (In-Person) David Ober – President, Justin Hage – Vice President, Denise Pierce – Secretary, Kent Esra, Deron Kintner, & Katie Aeschliman (Via Zoom) (Absent) Also Present: (In-Person) Corrie Sharp – RDC Executive Director, Brian Crist – Legal Counsel of Ice Miller, Owen Young – Economic Development Manager, & Zach Lutz – Associate Planner (Via Zoom) 1. Call to Order: David Ober called the meeting to order (@ 6:33 PM; YouTube 00:02:15) 2. Recognition of Attendees who request to be noted: None. 3. Oath of Office (YouTube 00:04:00) Mayor John Stehr swears in all the members of the Redevelopment Commission. 4. Election of Officers (YouTube 00:05:30) Mr. Ober introduces the item and the seats that are requiring to be filled. He expresses that there is one stipulation that the President and Vice-President cannot be of the same appointed authority. Mr. Ober opens the floor for nominations. Motion: Kent Esra made a motion (seconded by Justin Hage) to: Nominate David Ober as President of the Redevelopment Commission for 2024. The motion passed unanimously 5:0. Motion: David Ober made a motion (seconded by Kent Esra) to: Nominate Justin Hage as Vice President of the Redevelopment Commission for 2024. The motion passed unanimously 5:0. Motion: David Ober made a motion (seconded by Kent Esra) to: Nominate Denise Pierce as Secretary of the Redevelopment Commission for 2024. The motion passed unanimously 5:0. Page 1 of 5 5. Reports A. (YouTube 00:07:50) Director’s Report: Corrie Sharp, the Director of the Redevelopment Commission, offers a status update on projects within Zionsville. She introduces Owen Young and Zach Lutz as team members under Ms. Sharp. She also introduces Cindy Poore, Director of Finance and Records, serving as RDC’s Treasurer. Ms. Sharp begins describing efforts in relation to the South Village. One of which being the Zionsville Gateway Area Plan which was a Comprehensive Plan amendment adopted in 2022. Over the next few years, there is be changes to the areas south of the Brick Street Village Business District. Another priority and project are the Comprehensive Plan update. The RDC will likely have a seat at the table as the future of Zionsville is planned. This will be led by Mike Dale, Director of Community and Economic Development, for the Town. His team will be issuing a Request for Qualifications (RFQ) in the first quarter of 2024. It will likely be a 12-18 month period. Wild Air came to the RDC in December with a Declaratory Resolution which was approved. They will now go before the Plan Commission, the Economic Development Commission, and Town Council before returning to RDC for final approval of their Economic Development Area. It would capture the tax increment associated with the multi-family and commercial components of the development. As part of this negotiation, they will be donating ten acres to the Town for a civic use. Old Town is working to respond to several questions posed to them at the December meeting which will be distributed once received. The sale of Lots 4 and 5 is still pending with an accepted Letter of Intent. Active work is underway to develop a Development Agreement between Podell Partners and the RDC. The tenant is an ophthalmologist. Ms. Sharp anticipates this being resolved within the next two weeks and have the buyer at the February RDC meeting. Ms. Sharp introduced the Sentry project which is in association with Holliday Farms. It is currently going through the Plan Commission for its approvals and has already received approval to rezone it to the Holliday Farms Planned Unit Development. It is a senior living development with 155 units on the east side of Michigan Road. They intend to seek TIF funding. Mr. Crist and Ms. Sharp have drafted a reimbursement agreement between the RDC and Sentry to cover any project specific costs which would be incurred. They require TIF projections for their project in order to start the next step. This step does not guarantee any approvals for EDA expansion or TIF bonding. Ms. Sharp brings up the idea of creating committees of the RDC to help review items outside of the regular meetings and provide recommendations to the larger board at their normal sessions to act. Some of these committees could be finance, Town liaison, governance, etc. This is directly related to the need to interview and select a Financial Services Advisor. At the December meeting, three consultants submitted proposals for consideration and requested interviews with the RDC. Motion: Kent Esra made a motion (seconded by Denise Pierce) to: Approve the Sentry Reimbursement Agreement to pursue TIF Projections. The motion passed unanimously 5:0. 6. Old Business A. (YouTube 00:25:25) Financial Services Proposal Sub-Committee David Ober introduced the item and opens the floor for discussion and interest on the committee. Kent Esra and Katie Aeschliman volunteer to serve on the committee. Motion: Deron Kintner made a motion (seconded by Justin Hage) to Establish the RDC Finance Committee and appoint Kent Esra and Katie Aeschliman as its members: The motion passed unanimously 5:0. 7. New Business Page 2 of 5 A. (YouTube 00:27:20) Approval and Adoption of Minutes: January 22, 2024, Regular Meeting Motion: Kent Esra made a motion (seconded by Denise Pierce) to: Approve the regular meetings minutes from January 22, 2024. The motion passed unanimously 5:0. B. (YouTube 00:27:55) Claims for Approval David Ober introduced the claims. He requested Ms. Sharp to express what to expect going forward with claims. Going forward the RDC will be seeing the budget line items with actual deductions coming out of it. This will include year to date data as well. It will also include all the submitted invoices. The RDC will also begin directing the Treasurer on which funds and TIFs various invoices will be paid out of. David Ober asks about the annual expense related to Creekside Corporate Park and Community Development Corporation (CDC) expense. Zach Lutz explains how the CDC is currently operating as the common area management for Creekside Corporate Park. They create an annual budget of expenses to maintain this area and it is evenly distributed between the property owners based on land area. Deron Kintner asks that as more properties are sold, the RDC will be responsible for less of this cost. Mr. Lutz confirmed that fact. Motion: Kent Esra made a motion (seconded by Deron Kintner) to: Approve the Claims for January 2024 as presented. The motion passed unanimously 5:0. C. (YouTube 00:32:00) Zionsville CDC – Appointments David Ober introduced the subject to the RDC of their typical role of appointing three members to the CDC. Ms. Sharp states the intent of this agenda item was to reappoint the existing members. However, recent by-law changes in the CDC have changed the existing CDC members to founding members which are appointed by the board and new term limits. Their board can now consist of 17 members. The RDC now has the task of appointing three new members and with no short list available at this time it is recommended that the item be continued to February. David Ober asked about their future appointment structure once they become a 501(c)(3) and if the Mayor and RDC would no longer be responsible for appointing any members. Mr. Lutz explains that going forward three of the seventeen members would continue to be RDC appointments, four would be Mayoral appointments, and the remaining 10 would be appointed by self-appointed by the CDC. David Ober states that he believes it would be beneficial for one member of the RDC serve on the CDC going forward. He also requested an overview of the CDC and its mission which Mr. Lutz provides for the RDC. Mr. Esra states it should be tables this matter until February. D. (YouTube 00:40:05) 2024 Budget Amendment Page 3 of 5  Ms. Sharp displayed and described the budget and the proposed changes to it for the RDC. Her spreadsheet displays the 2023 end of year actual budget, the original 2024 proposed budget, and the 2024 amended budget for the RDC and public to better understand. Each balance, fund, etc. is broken down by each individual TIF district. Ms. Sharp goes into detail expressing the shifts in the budget amendments. David Ober asked about the assumption on anticipated cash on hand and if it was related to the sale of lots within Creekside, was it based on a percentage of the lots appraised value? Ms. Sharp expressed that the values for lots 3, 4, and 9 were based upon existing or previous offers that were for those prospective lots. The other lots were based upon the full appraised values from 2020. Kent Esra puts this to the new members and looks for their opinions as this is the first time seeing the budget. Motion: Denise Pierce made a motion (seconded by Deron Kintner) to: Move the budget amendments to the Finance Committee for further review. The motion passed unanimously 5:0. 8. Other Business: A. (YouTube 00:52:40) Boone County Economic Development Corporation Introduction Ms. Sharp introduced the Boone County Economic Development Corporation (BCEDC) and Molly Whitehead its Executive Director to give the RDC an overview of new agreement and services offered. Ms. Whitehead explains that most of her work will be with the Mayor or other concerned parties within the Town which could include the RDC. A portion of the BCEDC is to generate leads. Some leads come from the State through the Indiana Economic Development Corporation (IEDC) and others are direct leads the BCEDC creates or receives. The BCEDC, with direction from the Mayor and the RDC, tailor leads forward to Zionsville based upon the desired users that are desired within the Town. Claire, who primarily focuses on small businesses, is another team member the RDC will be working with. The BC EDC will also continue to offer their Microloan Program for Zionsville businesses. B. (YouTube 00:55:25) Future Meeting Dates Ms. Sharp explains that with new membership, she wished to give the Commission the opportunity to establish their standing meeting dates. The short list was Monday 8:00-10:00 AM, Tuesday, :00- 10:00 AM, or Wednesday 3:00-5:00 PM. Motion: Kent Esra made a motion (seconded by Justin Hage) to: Establish the RDC’s standing meetings on the Fourth Tuesday of each month at 9:00 AM. The motion passed unanimously 5:0. C. (YouTube 00:59:35) Kendell Property Group Ms. Sharp explains that with the withdrawal of Kendell Property Groups Offer on Lot 9 there is Escrow earnest money available to be returned that was put down. Motion: Kent Esra made a motion (seconded by Denise Pierce) to: Retain the earnest money from the Lot 9 transaction with Kendell Property Group. The motion passed unanimously 5:0. Page 4 of 5 9. (YouTube 00:36:45) Adjourn Motion: Deron Kintner made a motion (seconded by Denise Pierce) to: Adjourn. The motion passed unanimously 5:0. Meeting Adjourned at 7:35 PM (YouTube 01:04:25 meeting duration) The next meeting of the Redevelopment Commission is scheduled for: Tuesday, February 27, 2024, at 9:00 am. Page 5 of 5