HomeMy WebLinkAbout02-13-2004 - SpecialMINUTES OF SPECIAL MEETING
JEFFERSONVILLE REDEVELOPMENT COMMISSION
Friday, February 13, 2004
The Jeffersonville Redevelopment Commission held a Special Meeting, Friday
February 13, 2004 in the Mayor's Fourth Floor Conference Room, 501 E. Court Avenue,
Jeffersonville, Indiana. The following were present:
Barry Cahill, President
Kyle Williams, Vice President
Nathan Samuel, Secretary/Treasurer
Edward Zastawny
Mark Pearson
STAFF:
James H. Becker, Interim Director of Development
Mary Sue Ellenbrand, Assistant to Director
Les Merkley, City Attorney
Rob Waiz, Mayor
GUESTS:
Breck Jones, Sun Properties
John Rulketter, Sun Properties
CALL TO ORDER:
President Cahill called the meeting to order at 12:15 P.M.
QUADRANGLE PRESENTATION:
Mr. Breck Jones, representing Sun Properties, gave a presentation and update to the
Commissioners on the progress of the Quadrangle Project. The following issues were
addressed:
1. The project will cost $2.7 million dollars more than projected. The total cost
should come to $7.7 million. This is due to the project being larger than
anticipated. There are 330 windows and most of the windows are different sizes.
The windows will cost approximately $750,000.00.
The Sewage system needs to be completely redone. The site work will be more
costly than anticipated.
2. Mr. Jones anticipates rental income to be greater than first anticipated. The
projected income at the beginning of the project was $60,000.00 and now is
$120,000.00 annually.
3. Mr. Jones also reported that the City's shares would not be diminished. There
will be no additional investors in the project. Mr. Jones also stated that he would
ask the investors if they would consent to their names being given to the
Commissioners.
A motion was made by Mr. Zastawny and seconded by Mr. Williams to give
Sun Properties the authorization to move into the construction phase of the
project. Sun Properties has agreed to report back to the Commission in the event
the cost of the project would exceed 5% of the last projected cost of
$7,698,761.00. Also Sun Properties has agreed to have a representative report the
progress of the project to the Commission at the last meeting of each quarter.
COMPUTER STATEMENT:
Sun Construction submitted a bill for$6,972.00 for the removal of computers at the
Quadrangle. There were 595 monitors removed. Mr. Williams made a motion to
approve the payment of the removal of the computer. Mr. Samuel seconded. Motion
carried.
ADJOURNMENT:
A motion was made to adjourn the meeting by Mr. Zastawny. Motion carried. The
meeting was adjourned at 1:00 PM.
APPROVED BY:
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Ba chill, President
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