HomeMy WebLinkAbout11-08-07 Redevelopment Commission Minutes~~~ ~~ ~..
a'V~~~~~~1" ~, ~~a~
Pre~idin: ll~a~`c~a l~..~anes, ~~eide~~t o~~th Bc~~d, ~~~di~~a
the ~a~eb~r ~~ 0~7 e~evcla~cut
o~~i~~~or~ ~~ee~~~ ~~~~ re~~n~e~~e~
L ~
~.~~~~~~~~ .P~-c~~ez~t: ~. Garcia ~anc~, Prc~idcnt
fir, ~~~~ i~~, '~icc ~reidel~t
fir. ~•~ ~la~~~~es, ecreta~'y
.r* ~~~rd~e ~~ake, ~~-.
~.~-. ~e~~ ~ec;~lka~~si~~.
~~c~~~ 'a~~t~~e~: 11!~r. ~~~~~~r~~ ~etcrso~~, ~~~.
.Rde~elonae~~t t~~~~f--. ~~•. ~at~ ~~~~~~~, .Director
hrs. ~.`~~~~~~ ~'~~~p~, ecord~~~ ecreta~-y
~thcr~ Present: ~•. '~~'o~~~ ~•ice, Mayor's ~ffce
fir. a~~dy .apa~a, al~er Da~lie~s
1V~~. ~o Milicr
Z, ~LI~ ~US~N
~. Doog~as boa ~~cono~~c ~]e~op~nent A~-~a
~~~ a~n~~ssion a~~rvva~ ro~u~ste~ for
~eso~u~o~a a, ~~9o ar~thor~~~~a~ the
rss~.~nce of pity of youth Beni, In~~an~,
~ec~e~e~op~en~ I~~~~ric~ '~~ ~.~cree~t
epee ~~~ of X007, ~~den.in~ off`
- I~oulas o~d~
~•. l~eteron e~pi.~~~ed th~.t the city had a~~
n~~dersta~~di~~ with Holladay a~~oratio~~
rea~-dir~~ the de~elope~~t o~`tl~e l~o~~ls
]load ~~ ea. e acre doing to do the road.
pra~ect; they mere oi~~ to pro~~de the
ec~~r~ty to e~~a.hle Lis to market a band to
Provide suf~ cient f~~~lds to ca~n~lete the road.
.e've had a contract that was let for that a~~d
youth ~c~~d lc~devca~~~ent `on~xr~ision
Rescheduled Regular ~eetln~ -November ~, ?~~
.. .D~u~as ~o~~ .~c~~~a.~~ De~~~o~e~t .~~'ea
1.JL f Y.-~~~~~~4i ~4~a~A6
~re'~Ae re~.dy to ~o ~~~ it, Tl~ere' ~~ fc~~-~~a of
dc~clap~~lent arecz~~cnt an the agenda far
a~praval v~hlch stipulates a trn~ell~~e for tie
develol~rne~7t. At ~ ~:~~ a.l~~. this rr~arr~ln
~:~. Peterso~~ ~eeeive~l ~ ~~~11 fra~~~ c~o~~a~sel far
Holladay ~~far~~~i~~ l~i~~~ tl~cy .re not. illi~~
to can~n~lt to doir~ developt~~ent ley ~ 1 ~.~
tl~e ~evalaplne~~t arcel~~ent stipulates. "~l"1€ey~
dol~'t ~~~~~~t ~ til~~eli~7e, arid, o~~ce tl~e
de~ei.ap~~~e~~t ~~ eo~.~str~~cted, trey v~a~~t to
i~~~~~~cdiate~ly be released fra~n their
~r~.ara~~tees in the ~io~~z~~~e~~t.
~ccar~se afthe dap i~~ prapet~ty tai ~`u~~cli~~,
~~~~~ ~~ to lave suf~c~e~~t ~'er~e~~~~es to ~~~akc the
bated payments, tl~cre ~~as to be an assessment
date end tl~e~~ wait r~~~til tl~e p~y~r~e~~t is d~;~e,
so eve u~ere ~illi~~ to release the ~~arantee,
but nat unt11 tl~e funds are actually available.
Tl~e second t171r1~ is tl~ey wanted a tl~~rd ~a~~y
to ~~ al~o~ed to ~~ake ~~~ i~~vest~nex~t, not
l~olladay, a~~d have it count tov~ard their
cammit~nent. e were ~i lung to agree a
long as t~.e area cold a.ec~~r~ul~te ~.~~
assessed value, but Svc caret take a
represe~~tation 'ram a third party as t~ its
itavest~~~e~~t ~~~ a p~'e~eet. ~t leas to be
objective, based are the assessed value tl~~t
tl~e a~d~to~ pets ors ~t, ~~t what s~r~.eone else
says trey spe~~t on a prod ect. They n~i~ht
co~~str~e~ ~ bu~~d~n o~~th 5~0,~~~, but they
p~~t ~~~,~Oa ofoft costs in that isn't
assessable. That isn't a ~~~~~~~~~~ da~iar
p~o~ect, :~oiladay was ~~ot willing to give on
tllat.
a~.rt~~ ~e~~ e~~eve~opn~el~t an~~~~isian
l~.e~ched~lcd .lc~t~ar ~cctin -Na~e~~~c~ ., aa7
~. ~1~ ~l~t~1~1 ~~1~T.}
~9 l~au~~~s l~o~~ 1lconom~c Develapen~ ire
\.~~ CV~1tln.u'4rr6tl
~r. 'ecz~o~vs1~1 ~lat~~,~d that tine 1~a1~~C had
chr~ed ~~`an~ ~ol~aday ~'ar~a~•ation to
:~a~~~a~ load .~Part~ er s ~P..~ e a~eci i ~' that
~+~~~ part a~tl~~ ~~catiatiazas.
fir. ~etersar~ respal~dec~ that t~ere a~~e tea
e~~t~tie. a~7~~a aa~i l~art~~er, ~~,.~. a~~7~~s
tl~c e~~~.ariai ~~i~~~~~ a,~~d Da~~~.a ~aa
~et~~~.I a.rt~lers, ~,:P. ~~+~a~~Z~. a~~~~ t~~e zac~~~
de~~elai~~~~e~7t, ~~ni~e~ ~~~ reta~.I. The ~a~~~ias
~aa~~ .P~rt~e~-~ 1~~~~~di~~g ~~a assets, a teat
~~as ai~~ ~a ~c the ~~~.ra~tee :far tl~c praject.
"~~~~ ~a~~l~ ~~fant teat a~~e o~~ the l~aal~. c~
V~c~.~~t bath of theme. ~eca~s~ they are
ll~r ~l~t~~il~~ a~tr rtlarl~y ~~h~Ch i5 seca~~~ it7
i~~.e..~a~~aday ~ fn nth that a~pet~
ll~~r.1~~~~ asked i~``~a~~~• n~a~~ey" a the
~~~i~~~o~~ da~i~-s t~:~~t the a~~~~c~i ap~a-a~r~~tec~
i'~~ar~ the city cr~cra~ F«~~d ~fra~~~ a~ ar
a~ves~. fir. l~etersa~~ can~-n~ed that it vas.
dlr. Pete~,o~~; The baf~in part to ~~~e vas,
the reason we're dai~~ this road i~ to provide
far develo~~~r~e~lt. We're ~~ot ~~ere to t7~ake
l~ailady's la~~d .are val~~able. ~~t to
see de~eia~~~~e~~t. If they don't ~~ave ~~a~~s to
cle~eiap v~h~t they said at t~~e bei~~~~i~ of
the canversatia~~, ~~hat's the paint o~ tha city
ta~~~ a~~ e~as~~re~ ~~'oll~y a~~s away
~ithat doing the eve~ap~~~e~~t the city has
debt service payments that ~ ca~~'t over.
That is a deal breaker fra~n the city's
perspective.
3
a~~tk~ e~~d cdevclaptr~el~t ;'a~~~~~~~ss~o~~
Re~chedr~~ed Re~~~a~• ~eetY~ -a~~e~~~l~er ~, ~~~~7
~, ~ou~as o~ ~ca~~o.~c ~e~~l~pe~at Are
E Y ~ 'V 'V ~~ t ~ ~ II Wf wr a 1~ 4
fir. e~ka~~~~~ asked ha eye ~ alit there
ca~~~~der~n de~e~apn~e~~t? Is there a~~yone
else`:' fir. petersa~~ re~pa~.ded t~~ere ~~ na ane
ee ~~o ~~a~~~d p~~t ~:ip , ~~a~-antee ~o~~ tlae
1-aad. e created t~~.e develQp~~~.c~t ~~~-e~~ tc~
p~-o~~.de f~~~~c,~.i ~~ fay- the ~aad to cnha~~ce
~olladay's de~eapn~ent. ~~e ~a~~~ld
~ar~naly apt far taxes to co1~~e rn ~1-a~~~ tl~e
er7~arial de~fela~~l~~~~t t~ pro~r~.de a ~t~~blc
aurce of ~`i~~~d~~~. ~a~lada.y asked ~f e
ca~~ld da tl~e read ca~-11er, and e said ar~~-
o~~ly pral~le~~~ ~~~o~~ld be ~ec~~r qty. r.~,l~ey
p~~o~~~~sed to p.z~ovidc sec~~r~ty to het tl~e deal
~~orked o~~t. ~a they ee~~~ to be back~n
a~,~t a~tl~e dc~elap.~~~c~~t.
11~Ir. l~~ ~~oted tl~t i~~ read~r~ the
a~reen~ e~~ t, l.~ c ~vasn't cl ear ~vl~at reco«rse tl~e
an~m~ssio~~ had i~ Holladay did~~'t da .~
of deve~ap~~~e~~t. ~1~r, ~'eteron repo~~d~d that
~alladay ~~~ ~~ara~~tee~n tl~c city debt.
There are tea debts: a band issue ~l~~cl~ their
current l~~~ild~~~~ hay e~~augh T~~ re~e~~~te to
~~~eet the oblz~at~an an~ ~t~ b~.~~~t anal
a~e~ed. c ~rerc v~i~l~n to take that as
sec~~rlty ail the bald. ghat I~alladay era
do~~ was f~~nd~ ~~ a fetter of ~red~t ~'ar the
band debt service reserve of ~ ~ a,aaa. e
mere taki~~~ tl~e rest a~ tl~e risk, ~ay~~ ~v~.tl~.
the T~F rcvelue~ pray ected to came ~n and
the ~ ~ a,00~ fetter a~' red~t there to be
dr~~~n an, ~~e ca.n. tale that r~~k. Tl~en, the
city l~a~ loaned itself the ~ ~rnm .a~or
laves, Ho~lada.y ~.~ «aranteelr~g that
repayment u~~tl~ they da developme~~t, Tl~e
rationale is, ~f they do develop~~~ent, that
4
o~.~tl~ :~e7~d Rede~~elapm.er~t ~`a~~~~~lissia~~.
l~.esche~~~led l~.e~r~ar eeti~~ -l~ovemher ~, ?~07
2. OLD BUSINESS (CONT.}
~e ou~a~ ~oa~ ~cono~i~ De~elo~m~~~t ~~-~a
series the p~~rpoe o~ tl~e raj ar ~t~ves
~~~a~~ey, ~ v~c~i as i t~aey eta de~e~op~ne~~t, e
ca~~ pro~eet T~~F ~•e~enr~es to ca~~~e ~~~ .~~~
~~epa.y it. ~ f ~l~ey da~~'t do de~elapr~ient, the~~
~~~c loge ~i~at e~~t~re l~~~llio~~ ~allars. The
reeaurse i~'~ai~aday did~~'t do the
c~eveap~~~e7~t ~~~~,~ to he teat l~a~a~~ay ~r~~~~d
p~~y tl~e pity a1~ ~~~al~~~t egt~ar to the debt
sez-~~~ce p~~yl~r~el~t ol~ the .ll~ajor o~~es
~~~a~~cyw__3~,~~~ per yea~~~ Tl~en, l~e~~. the
pr~l~c~pal ca.~~~e ~lp~ tl~cy ouid ~~av~ to ~~~~
tl~at. a~at ~=~iolia.day ~~ia~te~i ~~as to c
released f~roi~~ that alt~~iat.ior~ ia~~~~~edzately
~~poz~ their eo~~~pletion aftheir hui~dir~. ~~~t
that ~va~~.~d ~ea~e t~~e city itl~ a debt er~icc
dap for t~vo years, a~~d no cash as sec~~r~ty ~'or
tl~e ather ho~~. e ac~.~d have a pure T~F
ba~~d teat ~~au~.dz~'t be f~~~de~l., It ~o~.~ld reed
to be a policy deeislan whether etty ~~a~
~va~~~~~ t~~ do that and rrk the city's credit
rating. ~~zr sec~~~-ity vas ~~~~~~~~ ~'~~nds
ca~~~i~~ in to pay the band af.~", or use it to
pay ~~el~ a~or ~o~es.
fir. Pec~a~sl~i asked ho~v i~~te~~ti~~ed the
agree~~~e~~t on the road v~ldening was with
t~ailaday' oi~~ ahead a~ the project? Il~
tl~.e rand isn't widened, are they not oz~~ to
ga ah.ead ~~t~~ their pro~eet? ~s the road
being ide~~ed of parar~~au~t interest to
~ailaday} deve~.op~~~e~~t? fir. Peter~an
re~po~~ded that it's ail incentive. They ~~ay
sti~i o .head ~r~th their project. The~'~e ,fat
optia~~s. I don't kna if they ~vou~d~a't
e~.e~~c~e then.
5
a~~tl~ ~e~~d edevclopx~~e~~t a~nn~issia~~
~esel~ed~~~ ed ~egu~ar ~ceti~~g -Novernbcr ~, ~0~7
~. ou~a~ .oaf co~~~l~ .~evelopme~~t area
~~~ ~~t~~~~edaao-
.~:r~ ~Petersa~~'~ reca~~~~~~e~~~iation was th~~t the
on~~x~is~a~~ app~'ovc t~~e deve~op~ne~~t
~ree~ne~at in forrrl, hapi~~g ollad~~r mould
oha~~ge its ~nix~d. approving tl~c bo~~d
r~so~~~tian a~~d tl~e ~~pprapr~ ~.tia~~ resal~~tio~~,
l~~ao~ng e ca~~'t claw ~zntil e get that
~ec~~~~it.
~v~~~. ~r~i~~g asl~ed ~ t~~e ~~a~~~n~issi.a.~~ ~~.p~~~~o~res
th.e dao~~.~~~ents today ~.~~.d ~~~~o~lada~ never
does e~ec~~te the a~ree~~.c~~t, het~~er ~.~~~
l~abilit is trigg~;.~~ed for ~~~~ city`. ~U~r,
.~~;te.~-so~x respo~~ded that, no, e ~~~st ~val~lc~t~'t
issue tl~e bond. ~r~t~~ yol~ claw, yo~~ don't
lame l~abili~y. e don't have any intention
of c~asin ~~ntil they cotnc to o~~r te~-~ns. Tl~e
C~a~~~~~ission could do resc~~~ding resol~~ttio~~
at its ~e~t meeting.
fir. ~~i.n s~gestd t~~e C'alntnissia~l n~al~e its
positio~~ clear far the reeor~i so tl~e staff ~~.~~.
neatiate fra~~n a clear pasitio~~.
fir. Peterson noted that one change from.
~vl~at the ~on~~niss~o~~ l~.d prior to the
n~eetir~g is th.t i~~tead of using ~. ~ese~ve
acco~~~~t, the floes of finds zs to be
replenished ~vitl~ cash e~ces if tt~er e's a draw
o~~ letter o ~ credit rater t~~a~~ restoring the
letter of c~edi.t, which tneans tl~at, ift~ere is a
d~'a, a cash reserve o~zld ~e built up before
the developer i ~~eimbt~rsed for ~.~~~ pa~.nents
made ~~nder tl~e letter off` credit.
ll~~r. Blake asked it t~~e city has otl~er projects
it is working an ~vitl~ Holladay where tl~ere
o~~t~. Be~~~ e~i~ve~a~~~~e1~t `on~~~~~ss~ot~
les~~~~c~~~~~~ l~.e~~~ar .N~eet~~~~ -~'o~e~~~~~~r 2, ~~~7
~. ~ou~i~s load Ecano>I~i .~e~re~a~le~a~ .~•~~
~~~ ~an.~i>I~I~~eop~
are is~~~~s ~~~~~ o~~ t~~~ o~a~. ~~°~ Pete~o
repor~~~d th~~ t~ler~ are. T~~ts is ~~r~ t~~,a~,
:l~r. ~akc asl~e~ ~~`~:o.~.a~a~ a~ ~~~v~.~-e t~~at
"~'r ~ ~~17E1~ ~~C~ ~1~7€~l~t ~~.1~' Cr C1t 1 ~~t1~7.~.
tate~i t~~at ~ailada"~ cr~~t rat~t~ ~ Qi~~
~~~~~~ ta, ~t~~ tl~~ 0~~~~1~~~~~~~.
~~c~ ~ r~~otia~~ ~~r fir. ~rt~, ec~~~~~c~ ~~
~~. ~~e~~~e~ ~~~. ~~~~~~~~~~~~~~~~ ~arr~~~., t~~c
`~z~~~~a~~ioz~ ~ro~e~~ eo~l:lt~c~r~ 7~. ~~~~
~.lltl~or~z~~~~ t1~~ isl~~~~~cc f~`i.t~ ~f. c~~l.t~
~e~~d, ~nd~ana, ~ede~~e~o~~~~~t ~~~~t~,let Tai
~~~cre~~~e~~t l~~~c~~~~e ~a~~.~~ ~f~0~}?~
~rdeYlr7~~ o~ ~o~~~a~ l~oa}
~~ 'ul~li~ 1~I~~riag on ~.~oln~~oa No. ~3~~
al~pro~ria~ing ~i,e p~ocee~~ including
inv~#en~ ea~rn.~n~~ ~l~ereo~~~ o~~e
~edev~lopmen~ Di~tri~~ T~~ ~n~~en~en~
~~~enue Bands. ~~~L'idea~ing af'~Doul~s
l~.oad~
~.~(.~N~CvI1Si()~,' r11'1'~~~~V~:I.~ ~1=~[:}I._~.1`I~lt-)1~ I~F[~.
?_~{~€3 ='~!1 I ~-l~)1~11~IN[:~ "I"I-~I~ IS[.J{'~N~:'Iv (:)I: ~`1'~1~~, (.)~-,
~~~~«~~~~-~ BI~.NI~. t~~:~lt~~v~~, ~~:I:~~~Y~.~o~~~vl~N.~.
r~~4 ~ ~~~L` ~ T,r41~ .~NC.`t~C=l~t~~~' R~=.~'I~N~1L ~34.)NI.)~
(~~~~ ~~L~ f . ~~~~ iC:~~N~Nt_i C)l~' .)i.~~JC:~I...r~4 ~(.)~1I..~~
~1!l, Ja~~e o~ez~ed t~~e ~ubl~e he~r~r~ ~`or ~t~~~.~~y ~~~~~NC; UN ~I:~,~~l..~.i'~~r~N ~o. 3~~
l~oc~er ~v~hed to ~ea~,{ T~~ere a ne a~~e
~v~~e ~v~~~ed to ~~ea~~ r~~ardi~~ R~~olutior~
Na~ 39~ ~ ~ Jones closed t~~e pu~llc
~ear~n for ha~~ver actiar~ tie o~~.~ss~.o~a
~s~~e to take.
~3} ~amml~sian ap~ra~rl r~~u~~~ed far
Realr~tian Na. .
~~on a n~ot~o~~ b~ fir. l~i~~g, ~ecor~~ed by
fir. lo~vn~ ~.~~~ ~~~an~rnou~y carved, t~~e
C`on~n~~s~io~~ appro~~d ~~so~~~tia ~o. ~~9i
ap~rop~i.at~~~ ~~~ proceeds ~~~~cl~~di~~~
inv~~tnl~~~t carni~~~;s thereon} of ~l~e
7
1,~MM~SS1[3N ~P['RC)V~;I) 14()L,Lf'I'IC~N NCB.
?~9 ~ nl'~'1~C)I'1~~11~1'1N~t ~I.~-~~ I'ItC~C~I~~~:l):5
~INC'1.~~1:)1NCi INVI~~'l'M~N'I' ~~I~N1N~i5'C'I-I~~tI::(:)N~
~~~~ ~~,~-II Rhl)I~V~.~.~I'14~~N~' Dls~l`I~IC~'~' Tnx
ZNC'~~1~1~.N"~'R~VI~[~~ B()N~). ~~r)r;N[N~~ ~~~:
c~u~l.,~s Ro~u}
or~th fiend Rede~e~a~~n~en~ 'c~x~~n~is~on
~e~hed>~~~ed Re~~~ar N~ectin~ ~V-~Na~erber ?, ~~~7
2. OLD BUSINESS (CONT.}
~. ~au~~~~ aad ~can.am~c eve~a~~ne~~t ~~~ea
~~ ~~l~t~t~ ~~ a o-
Rede~eie~n~ent district a ncrerr~ent
:~e~renue Bonds. ~denrn~ of Do~~~a
.Ra~.d~
~~ ~~ ~~E~
.~ oa~a~ o coai~ ~earen. ~•
~~ o~~~~~a~~ a~ra~r~ ~~~~~~ far
nae~~t ~~~er f~-a kelp ~~~~~~
a ~er~e ~s and 'a~r~se~ for ~~~a~~ee of
r~,~~i ~e~Fe~~ o~~d~F ~~~den~a a~' a~~~s
.o~.~
ll~r. ~n~~s Hated tl~~.t the ~na~en~e~~t ~,et~e~'
~~~~oposes a fey of 2~,00~ p~~~s expenses.
span a nation by :N~t~. ~o~~es, seeonded ~
~~~ ~'ee~ka~i~~ .nd ~~n~.~~i~~~ous~y carried,
the on~mi~sian approved the Ena~en~e~lt
fetter franc Baker Daniels to sere a
Bond ~or~nsel for -I~~ance of ~'~F .Reven~~e
fonds. ~iden~.n of Dou~as Road}
~} C~~~~~~~n pprowa~ reque~~ed far
e~ec~~a~ of ~Ve~l~ ~`~rgv ~~~, ~.~,. ~~
~eis~rr ~~yi~ ~.e~~. ~~V~d~~n of
Dnula~ Raad}
fir. Inks noted that e~~s aro a~X~d
ch~.r e ~~ $40~ acceptance fee? an 40~
annr~al ad~~~i~~istr~tion fee and add~.t~.ona~
expenses if it is neccssar~ for disc~as>L~re,
disse~nlnatian ar an~r o~~t ofpock:et e~ene,
Based o~~ pt l~~sto~-y~ e rare~~ see a~~yth~ng
other than the annual ad~ninistratio~~ fee.
CAL}I~J~Vi[~~~~)N ~1C'~a~C)V~:~I) ['C-~[: ~N~.~~k~.fl:=1~~1~N I
~.~~.: ~ ~ ~.;~ ~~ ~~l~l~~ !'k~~.:l~ V~. t'1:V ~L~~ 11.1 ~~=~4~~~ ~~~
B(}NC) C'DtJN~Iv~. [iL~I~ ~SE.]~lN(.'l! CSC: ~Z.~
RC:~~'~:N~.J[: BONr)S. ~~NCI)[N~N(a ~)1~' ~[~[.!~aC-.,.~
~of~~~}
S
a~~th Be~~~ ~e~e~e~ap~r~ci~t C'a}~~~~is~ia~
Resc~~cd~~e e~[.[~~}- ~N~~eet~~~ ----~a~e~~~be~ 2, 2~~
~~. ~au~a~ ~~~~~ Eco~~o~~c ~~'L'~~~~~11~11~ A.~~e~.
~Z~ con~~~~e~~
pa1~ ~ tl~atlaz~. hy~~ ~-. ~a~v~~e~, ~ecar~dc~ b~ ~~~~~~~~~~~s~~~~~ ~~~~~~}v~~~ ~~~~~-~~~ ~~}_~~.r~~r}~~~ r~r
N~~-. ~~.I~e ~.~~d t~~~a~~~}.~~a~s~~ e~~~r~ed, the ~LL~ fr'~RC_~~) ~nN~, ~.~. ns ~~~:~~~~~~~~}~
`a~~~.}~~i~~~an ~ raved the electx~}~ of e~~ ~~~~~~~c; ~~~~~N~~~. ~»[=_~~~c~ c~~~ ~~~~ a~a~..~s
~~ t~~~~~r~}
~`~ro :~~}~~, .A.. as e~stra~~ ~a~~z~ ~~e~~.t.
~'id.e~~~~~ af.o~~~~~.s ~aa~}
~;~~ ;o~1~s~~~r~ apo~~~ x~eted #'01~
Eca~la~~e e~e~~pe~1t r~~~ ~xe~~~1
of a~.~~~~ ~~.~
}-. ~}~k~ }~ote~ t}~~t ramie C'171~e1~as f ee
a~}ld ~e ~~ot t exceed. , ~ ~,UO pl~~ ~~~t a.~.
pacl~ct expe~~e.
~r. ~t~ ~~ate~~ that he i~ ~. for~~~er p~~rt~~.e}~ cif
`}}owe hizel~. He }~o ~a}~~er his a~~y
ow}~cr~~~.~p, ~~a ~o~~er recc~~cs ~.ny
co~net]sat~a~~ ar ~~a~e ~.~~y ~~l~nc~al l~~tcrest
~~~~tever ~~~ r~v~c h~~c~, ~ ~ ~t~l~ a~~
thc~r he~t~~ i~~~[~i~~~ce p~a~~, b~}t pays hz own
prem~~~1~~s. ~ ~~ na pec~~~~i~.r~ ~~~tcrct ~.}~
~'ae h~~el~' ~ .~n.v~~ve~~ne~~t here, therefore
~.aay p.~tle~pate ~~~ drsc~~~~ion ~.}.~d vate ~~~
~ten~s re~.~.ted to t~~e~~~.
Mr. Pec~a~ lied ~~l~at t~~c scope ~~
services is for 'ro~~e~ ,fir. ete~~sa~~
respa~~e t~~at they prepare t~~ T~.'
p~'aject~an n~~rnbe}' aid help set the debt
~ex-v~ce e~~e~~~~e to make sire sue issue bonds
t~~at use ca~~ rea~.ahl~ expect to pay far.
po~~ ~ r~ot~a~~ b~ fir. o~vr~es, seca~~ded b~
~, ~~al~e ~~d ~~~~~~.imo~~s~y c~~ried, the
o~~~m.i s~o~ ~.ppraved the req[~est for
p~~apo~~l far fi~~r~c~~~ co~s~~lta~~t ~~~ the
Da~~~as load Eca~om~o ~eve~ap~~}e~~t Ares
9 -
C()M1~[SSI(~N ~P~R(31~~=~,D'l~[-I[ [i}~.~}.}[=S'l- ~~()[~
DOUGLAS ~aAD ~C'UNaM}C.' D~:VLLO['1~~~']~'
~A^^11r~~.~ AND Ac~~~~r~~~[n "E"[-l}[, 1'IiC]?l~~'f(r),4~1[E. hC=}TMi~[}M
~J~~k.l YY L ~11~ ~~~~~ `J ~1~~~~ ~/l 4J~[\ Y I~~~~7 111 V}~ ~~.~
i~}zo}~nsED.
o~~th clad .ede~~e~~~~rle~~t ~n1I~:IIIaT~
ecIed~~led eI~I~~- ~1!~.ee~1rl~ -Naven~her ~, ?~}~
4~ti ~~ 1 1 t+ R/ ~~~~ ~~~A 1~~~
~. Da~uias Ro~zd ~cono~~c ~e~~io~e~t ~•ea
~~ con.ti~~~ed~.a
at~.d a~eted t~~e p~apaa~ ~'ro~~~ ~r awe f ar
tie ~ca~e of srv~ees ~.~~~ fee i~ra~~e~~4
~~ on~mi~ior~ p~a~v~i reque~t~d o~
~•~e~t ~ree~ne~~ ~~ bite pity ~i' ~ti~
end d~i~natin~ the oa~•d o~ P~~i~i~
o~• to e a ~ ~~~~~~~'~ aeu
for tie ~~~~e o ~~vider~ir~ o~~
aad~
['I". Peterson ~~oted ,~.a~ t~i~ ~tet~~ ~ ~~.o ~one~A
I~ee~ed. "gee terx~~s ~~o~~d lie ~a~~ered ~.~~ tl~e
~~c~c.~op.I~~ent aree~~~c~~~.
~ te~~~ d e etec..
~~ commission a~pravai reques#ed ~~
~~veiopmeut Ag~~ee~e~t ~~ and b~~~~ee
the o~~h fiend Red~v~io~~ae~~
ommisi~~, 'qty of youth Bind, ~~d~a~a,
Bon~a~ Road Retii ~a~r~ner~, L.P., and
~ooa Road ~ar~n~~•s, ..
llr. ~etero~~ ~~ated that R.~sa~~t1a~~ ~~. ?~~
v~au~d approve a fa~-I~ of Deveo~e~~t
~ree~~~erlt and a~l.or~ the a~`flcers to eee>r~te
it ~~hen ~~~Iali2ed.
~po~~ a ~~~ot~an ~}~ Nir. .~n~, seconded by
NIr. ~aw~es a.nd unanl~nausly earr~ed, the
Ca~~.~ssion approved esoll~t~Qn a. ~3~4
appravin ~~ .De~e~opn~e~~t .reeet ~~~~
.Da~~glas Raad Retail ~'a~t~~ers L.P., I~an~a
Road partners, L.~. and the pity of a~~th
:~erld, Indiana a~~d atl~er related matters, o~~
the ca~~dltlo~~ that any s~~l~tanti~e e~~anges to
what the ~o~iss~aners have already see~~
[;C~MMISSI(3N APPRC3VE~) ~I~S~)l,tJ"I"I~)I~ l~i~.
~~94 .~PPR{~VI1~C7 ~ ~l'~C~:I.~PC~IEN"f
A[~IiEEtvIENT ~UCTI-I ~(~LJC~1,.1~5 ~[~,~I) ~E'1"~11I~
~A~'I'N'ERS ~.., ~(:~L~C~I..~,S ~C~11[) P~It"C`NI~I~~,
I~,~. ~N~ ~I~I_IIr CITY aF oL'"~I-I ~~;NI~, ~~~~~~~n
t~NI.) L~'1'1-iE~~ C~'EL~ITED N~ATTIrRS, ON TI-~C=,
C:{}NI)I~I'1C~N ~~`~-~A'~` ~N'Y SLIBSTANT~VE C~HAN~,E
'a~U ~fll~"l„~,I..IE C?[)MMI~SC.UN1:a,R C-1,~V~ 11C..,1~~;11C)Y
1:i,C:N ~'iC..I... I3F FiROt.JGHT Pi1~C~C~ 'I~U ~C~1-CI
CU~9M~SIC)~ F~)IZ APPROVAL."
~~
o~~~~~ Ber~~ Re~~e~v~Io~~~~~er~t 'a~r~n~rsslo~~
e~c~~~d~~~cc ~.~~~~ar .N~ee~iz~ --ave~r~e~ ~, ~a0
~a ~}ougs ~o~~ ~~a~~o~ai~ ~evelo~~e~ ~~r~a
~~ Ar lf~~~4r~Ge6
~~1I~ bc~ ~~~al~~t ~ac~~~ a tie o~~~~~~a~~ fa~A
a~~~~~'a~al.
~~' ~l~~ ~
r`I~e ~~~~t e~~~~~.~• :Ia~t~r~ o~'t~~~ ~.~dc~ciap~~~~n~
C`ar~71~~~~~o~~ i che~~~~le~ ~o~° ~~~°i~~~ a~~~~.~~ ~~,
Oa7 ~~~ l.a:~~~~ ~~.~~~.
e J~J1V
- ~~~~'c ~~e~l~ loo ~~rt~~a~' ~~~~.~~~~ ~a ~~~~~~~ ~e~:a1-~ ~I~e
~e~e~relo~r~~e~~t ~"a~~~Y~isiar~, t~. I.in r~~a~e a ~~~.at~an
t~~~.~ t~~e ~~~c~~i~~~ b ~d~a~~~-~~e~..1~~~. ~a~v~~~s secan~;
t~~e 1~~at1a~~ ~n~ t~7e ~r~eetl~~ ~~a ~c~~al~:~.~.e~ at ~ ~~:~~ ~..~~~.
.~~
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Y ~: F
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~]o~~a~d ~, ~~~c~, ~~rectat~
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