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HomeMy WebLinkAbout08-31-2005JEFFERSONVILLE REDEVELOPMENT COMMISSION MINiJTES AUGUST 31, 2005 The Jeffersonville Redevelopment Commission held a Regular Meeting, Wednesday August 31, 2005 at 5:30 PM in the Mayor's Conference Room, on the Fourth Floor of the City County Building, 501 E. Court Avenue, Jeffersonville, Indiana. The following were present: Mr. Samuel called the meeting of the Jeffersonville Redevelopment Commission to order at 5:30 PM The following were present: Nathan Samuel, President Tracy Farrell, Secretary/Treasurer John Perkins, Commissioner Staff: Barry Cahill, Executive Director of Redevelopment Mary Sue Ellenbrand, Assistant to the Director Kathy Haller, Consultant Les Merkley, City Attorney Chester Hicks, Director of Planning and Zoning Absent: Mark Pearson, Vice President Kyle Williams, Commissioner RESOLUTION GIVING THE COMMISSION PRESIDENT AUTHORITY TO EXECUTE DOCUMENTS: Mr. Cahill reported that the Redevelopment Commission has AXA stock. This stock can be cashed in at any time. Mr. Cahill presented Resolution No. 7 to give the Executive Director permission to execute any and all documents necessary to effectuate the sale of AXA stock. Mr. Perkins made a motion to approve Resolution No. 7 giving the Executive Director permission to execute any and all documents necessary to effectuate the sale of AXA stock. Ms. Farrell seconded. Motion carried. u RESOLUTION TO MODIFY THE SDUGALVPRO BOND: 1 n i Mr. Cahill presented an Agreement and Waiver to modify the Steel Dynamics /Galvpro Bond. SDI has agreed to a reduction in the interest rate on the Bonds from the current annual rate of 9.937% to 1.00%. A motion was made by Tracy Farrell to modify the SDUResolution Bond Agreement seconded by Nathan Samuel. Motion carried. MINUTES: Mr. Cahill presented the minutes for the July 28, 2005 meeting. Mr. Samuel asked if there were any additions or corrections. Hearing none Ms. Farrell made a motion to approve the minutes of the July 28, 2005 meeting. Mr. Perkins seconded. Motion carried. CLAIMS: Mr. Cahill presented claims for August 2005 totaling $36,887.89. Mr. Perkins made a motion to approve the claims for August 2005. Ms. Farrell seconded. Motion carried. TREASURER' S REPORT: Mr. Cahill presented the Treasurer's Report. Total Assets and Liabilities amount to $2,925,289.00. Mr. Cahill reported that the rent overage from Buckhead's has not been received. It was due April 1, 2005. Mr. Merkley will write a letter requesting the payment. Mr. Perkins made a motion to accept the Treasurer's Report for Audit. Ms. Farrell seconded. Motion passed. STAR OF LOUISVILLE UPDATE: Mr. Cahill presented an amended and ratified lease agreement. Instead of a 20 year lease the Star would like a 7-year lease. They would like to be able to have a five year extension on their lease. If they are forced to move they would like to have relocation money. The Commissioners agreed that there would be no extension and no relocation money. Mr. Vissing will meet with the Star owners and convey the Commissioners responses and report back at the next meeting. 2 TIF UPDATE: Mr. Cahill reported that payments are due on Bethnova, Vogt Valve, and Keystone TIF's. The TIF accounts have not been separated by the Clerk Treasurer's Office. Mr. Samuel will set up a meeting with Peggy Wilder, Clerk Treasurer to try to get the TIF's separated. MONEY MARKET ACCOUNT: Mr. Cahill reported that $30,000.00 would have to be transferred from the Money Market Account to meet expenses. KATHY HALLER'S CONTRACT Ms. Farrell reported that she and Ms. Haller were revisiting some of the concerns of the contract. Ms. Farrell made a motion to amend the claims report to pay Ms. Haller for the four hours she worked when she drove the Ken Ellis proposal to Indianapolis. Mr. Perkins seconded. Motion carried. TENTH AND WALNUT STREET PROPERTY: Mr. Cahill presented the Real Estate Purchase Agreement between the Jeffersonville Department of Redevelopment and Oasis, Inc. d/b/a Al's Liquor. The purchase price is $60,000.00. A five thousand dollar deposit has been made. The intended use of the property is for new construction of Al's Liquors. Mr. Perkins made a motion to approve the Real Estate Purchase Agreement. Ms. Farrell seconded. Motion carried. TUBBY' S PROPERTY: There will be a hearing before the Board of Public Works on Wednesday, September 7, 2005. Mr. Merkley will do further research on declaring the area a blighted area. Mr. Merkley asked the Redevelopment staff to try to find a document that would have declared the Spring Street area a blighted area. Mr. Perkins made a motion that if there is a document that declares Spring Street a blighted area Mr. Merkley will proceed with condemnation of Tubby's Property. Ms. Farrell seconded. Motion carried. JEFFERSONVILLE TOWN CENTER: Mr. Samuel reported that a large bookstore would be located in the new Town Center. Mayor Waiz and Mr. Samuel will be meeting with Mr. Kent Arnold next week on the city's expectations of the project. The Sanitary Sewer board did not take action on approving money for sewers. Mr. Perkins stated that the City Council is very uneasy about this project. UPDATE ON QUADRANGLE: Mr. Cahill reported that Mr. John Rulketter and Mr. Brian Forest were not able to attend the meeting but that they are in negotiations with three major tenants. They will plan to be at the next meeting. UPDATE ON MEDVENTURE: Mr. Cahill reported that a payment of $1,300,000.00 has been made for the equipment that we purchased from MedVenture that will be leased back to them for $1.00. UPDATE ON CITY HALL: Mr. Cahill reported that the Redevelopment Commissioners would pay for the offices for the City Council. Mr. Perkins made a motion for the Redevelopment Commissioners to pay for the City Council offices in the City Building. Ms. Farrell seconded. Motion carried. UPDATE ON TENTH AND SPRING STREET: Mr. Cahill reported that a mediation conference has been set up for Tuesday, September 13, 2005. Mr. Samuel, Mr. Cahill and Mayor Waiz will attend. PROJECT UPDATE REPORT: (See Attached Sheet) Ms. Haller reported that she received notice that the Department of Natural Resources has released the Carnegie Building project from any further environmental review delay. The project can now proceed. By October 6th there should be a release of funds. ADJOURNMENT: Mr. Samuel asked if there were any additional business. Hearing none Ms. Farrell made a motion to adjourn the meeting. APPROVED: r~ L 4