HomeMy WebLinkAbout03-19-2007 SpecialJEFFERSONVILLE REDEVELOPMENT COMMISSION
MINUTES
March 19, 2007
SPECIAL MEETING
The Jeffersonville Redevelopment Commission held a Special Meeting, Monday,
March 19, 2007 at 5:00 PM in the Redevelopment Office, Second Floor, 500
Quartermaster Court, Jeffersonville, Indiana. The following were present:
Nathan Samuel, President
Tracy Farrell, Vice President
Kyle Williams, Secretary/Treasurer
Edward Zastawny, Commissioner
Rob Stevens, Commissioner
Staff:
Barry Cahill, Executive Director of Redevelopment
Mary Sue Ellenbrand, Assistant to the Director
Beth Keeney, Assistant Director of Redevelopment
Les Merkley, City Attorney
CALL TO ORDER:
Mr. Samuel called the meeting to order at 5:00 PM.
MINUTES:
Mr. Samuel asked if there were any additions or corrections to the minutes of the
March 14, 2007 meeting. Mr. Williams made a motion to approve the minutes of the
March 14, 2007 meeting. Mr. Stevens seconded. Motion passed unanimously.
STAR LEASE:
The commissioners made the following proposals for the Star Lease:
1. The Star will get a five (5) year lease with three (3) five year options
2. The City will receive the $16,000 rent that is owed.
3. There is a CPI charge every 5 years that would be about 15% or $450.00
4. The Star can be forced to move. A six month notice must be given. This will be
ample time to find a new home
5. Relocation expenses will be paid as follows:
1-5 years - $150,000
6-10 years - $100,000
11-20 years - $0.00
Ms. Farrell made a motion to draft a letter to the The Star with an outline of our
proposals regarding the lease dispute. Mr. Zastawny seconded. Motion carved
unanimously.
FIlZST MODIFICATION OF PROMISSORY NOTE:
Son Properties has asked the Redevelopment Commissioners to approve a First
Modification of Promissory Note, Mortgage, Security Agreement and Fixture financing
statement, assignment of rents and leases, construction loan agreement, environmental
certificate and indemnity and first modification and reaffirmation of the guaranty
agreements from P. Breckinridge Jones, John S. Rulketter and Brian N. Forrest.
Mr. Samuel will sign the document.
Mr. Zastawny made a motion to empower Mr. Samuel to sign for the Redevelopment
Commission the first Modification of the Promissory Note for son Properties. Mr.
Stevens seconded. Motion carried unanimously.
The Commissioners instructed Mr. Cahill to send a letter to Son Properties that they
are not in favor of this happening again.
OTHER:
BUXTON:
Mr. Samuel reported that he has been contacted by Matt Montgomery of the Buxton
Group about the presentation and whether we wanted to enter into the agreement with
them. Mr. Samuel asked either Mr. Cahill or Ms Keeney to contact Buxton and get
references and to contact the references on how effective the program is.
Mr. Zastawny will bring the matter up at the City Council Meeting and see how
support the council has for the program.
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ADJOURNMENT:
Mr. Samuel asked if there were any additional business. Hearing none Mr. Williams
made a motion to adjourn the meeting. The meeting was adjourned at 7:40 PM.
APPROVED:
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