HomeMy WebLinkAbout02-24-1999MINUTES OF THE REGULAR MEETING OF THE
JEFFERSONVILLE REDEVELOPMENT COMMISSION
Wednesday, February 24,1999
The Jeffersonville Redevelopment Commission met in Regular Session at 8:00
p.m. on Wednesday, February 24, 1999 in the Jeffersonville Housing Authority, 206
Eastern Boulevard, Jeffersonville, Indiana. The following were present:
Barry S. Cahill, Vice President; Ronald T. Grooms, Treasurer; Kyle
Williams, Secretary; Nathan Samuel, Commission Member; Donna Franz,
City Council Member; Neal Steinbart, Barnes & Thornburg, Attorney at
Law; Jim Bruhn, Galvstar; and Staff Members: Philip W. McCauley,
Executive Director; Julie Hinton, Assistant Director; and Kathy Haller
Consultant.
Vice President Barry S. Cahill welcomed Mr. Nathan Samuel as the new
Commission member.
Ms. Julie Hinton and Ms. Kathy Haller noted that there were no attendees at the
public hearing for the Lease for Galvstar Project Economic Development Area.
Mr. Neil Steinbart ,attorney for Galvstar LLC and Mr. Jim Bruhn, President, of
Galvstar LLC were present to discuss Galvstar TIF agreements. Galvstar's plans are to
purchase bonds payable from TIF proceeds. The bonds are non-recourse, as they are not
guaranteed by any other source of funds. Bondholders will bear the risk that the TIF will
not have sufficient funds to make the scheduled bond payments. Resolution 99-1
Resolutions Approving Lease for Galvstar Project Economic Development Area.
The City of Jeffersonville will receive indemnification against liability for an indefinite
period of time under the terms of the Redevelopment Authority/Redevelopment
Commission lease. The interest rate will be a matter of negotiations between the buyer
and seller of the bonds. Hearing no further discussion and upon a motion by Mr. Ronald
T. Grooms and a second by Mr. Kyle Williams, Resolution 99-1 was passed
unanimously.
Next on the agenda was a presentation on the proposed aquatic center and
baseball fields projects given by Donna Frantz, City Council member. She estimated
total project cost at approximately $7,200,000.00 including indoor pool and
administration facilities- $4.2 million; Outdoor pool- $2.1 million; Skateboard park-
$150,000.00; Baseball fields- $750,000.00. A discussion of the projects ensued with
questions by the Commission. Vice President Cahill thanked Ms. Frantz for her
informative presentation.
Election of officers was held. Ms. Hinton informed the Commission that
President Campbell stated he would be happy to serve another term. The following slate
of officers was proposed: President-Mr. Robert E. Campbell, Jr., Vice President- Mr.
Barry S. Cahill; Secretary-Mr. Kyle Williams; and Treasurer- Mr. Ronald T. Grooms.
Mr. Williams made a motion to nominate this current slate of officers, seconded by Mr.
Grooms, and passed unanimously.
Minutes of the January 27, 1999 meeting were submitted for approval. Upon a
motion to approve by Mr. Grooms and a second by Mr. Samuel the January 27, 1999
minutes were approved unanimously.
Treasurer's Report was then submitted. Mr. McCauley noted that there were no
unusual expenditures. Ms. Kathy Haller is to submit her Grant Report to the commission
at the next meeting. Hearing no further discussion a motion was made by Mr. Williams
seconded by Mr. Samuel and passed unanimously to approve the Treasurer's Report.
Claims were submitted. A motion was made by Mr. Grooms, seconded by Mr. Williams
and passed unanimously to approve the claims.
Ms. Kathy Haller gave the Project Report. 1) The Owner-Occupied Rehab Grant
must be completed by May 31St. An extension may be requested. 2) Six bid packets
have gone out on the Spring Street Project and bid opening is March 9, 1999 at 4:00 p.m.
3) Kintec is hoping to receive a $100,000.00 grant.
Jacobi, Toombs and Lanz submitted a proposal to serve as inspectors for the
Keystone project. Hearing no discussion, a motion to accept the proposal was made by
Mr. Williams, seconded by Mr. Barry S. Cahill and passed unanimously.
Mr. McCauley presented proposals to lease or purchase a vehicle for the
Jeffersonville Department of Redevelopment. Insurance will cost approximately $320.00
per year. The City has agreed to pay the insurance and gas expenses. A motion was made
by Mr. Samuel that the Commission lease the 1999 Chrysler Cirrus, seconded by Mr.
Williams and passed unanimously.
Resolution 99-2 Resolution of the Jeffersonville Redevelopment Commission
Authorizing Lease, Lease Amendment & Leasehold Mortgage for Rocky's Realty
LLC was introduced. Mr. McCauley reported that he had received a request to amend
the lease agreement for the new Rocky's Restaurant. The lease presently requires the
owners of Rocky's to personally guarantee the first leasehold mortgage for three years.
National City Bank, the mortgagee, is only requiring the owners to personally guarantee
the mortgage for one year. The owners therefore are asking that the lease be amended to
require the owners only personally guarantee the mortgage for one-year. Also, National
City Bank needs a Resolution approving the leasehold mortgage and authorizing Phil
McCauley to execute the documents necessary for closing the mortgage. After
discussion, and upon a motion from Mr. Williams to approve the Resolution, and a
second from Mr. Samuel, the motion passed unanimously.
Hearing no further business to come before the Commission and upon a motion
from Mr. Williams and a second from Mr. Grooms, the meeting was adjourned at 9:50
p.m.
Kyle illiams, Secretary
Jef rsonville Redevelopment Commission
APPROV/ED• ~ ~ - ~ ,
Robert E: Campbell, Jr., Pt~esident .j
Jeffersonville Redeveloprne~t Comm:
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