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HomeMy WebLinkAbout2A Redevelopment Commission Minutes 11.8.2018 South Be n d Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, IN SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING November 8, 2018 9:30 a.m. 227 West Jefferson Boulevard Presiding: Marcia Jones, President South Bend, Indiana The meeting was called to order at 9:31 a.m. 1. ROLL CALL Members Present: Marcia Jones, President Dave Varner, Vice-President Don Inks, Secretary Gavin Ferlic, Commissioner Quentin Phillips, Commissioner Leslie Wesley, Commissioner Members Absent: Legal Counsel: Sandra Kennedy, Esq. Redevelopment Staff: David Relos, RDC Staff Mary Brazinsky, Board Secretary Others Present: James Mueller Daniel Buckenmeyer Randy Rampola Phil Faccenda Deb Futa Rose Meissner Todd Samuelson Jim Finan Kyle Silveus Charlie Brach Caleb Bauer Eric Henderson Kim Shine DCI DCI Barnes & Thornburg, LLP Barnes & Thornburg, LLP St. Joseph Library Community Foundation SJC Umbaugh 750 Lincolnway East Engineering Engineering South Bend Tribune Prism Environmental WNDU South Bend Redevelopment Commission Regular Meeting – November 8, 2018 2. Approval of Minutes A. Approval of Minutes of the Regular Meeting of Thursday, October 25, 2018 Upon a motion by Vice-President Varner, seconded by Commissioner Phillips, the motion carried unanimously, the Commission approved the minutes of the regular meeting of Thursday, October 25, 2018. 3. Approval of Claims A. Claims Submitted November 8, 2018 Upon a motion by Secretary Inks, seconded by Commissioner Phillips, the motion carried unanimously, the Commission approved the claims submitted on Thursday, November 8, 2018. 4. Old Business 5. A. River West Development Area 1. MOU (TIF Revenue to EDC for South Bend Community Learning Center Project) Mr. Mueller presented the Memorandum Of Understanding regarding TIF Revenue to EDC for the South Bend Community Learning Center Project. This is an exciting partnership between the City, Commission, St. Joseph County Public Library, and the Community Foundation of St. Joseph County. The next three agenda items relate to this project. We are looking to take part in a $35 - $38 million-dollar project at the main library site. Half of the dollars will be to renovate the existing main library the other half is for the new Community Education Center project. We are looking at City participation in the Community Education Center project at $4 million in net bond proceeds. The main library would consent to a development at the parking lot south of the existing library across from the Hibberd South Bend Redevelopment Commission Regular Meeting – November 8, 2018 Building. We are not looking to issue debt service on the bonds until 2021. By 2022 our obligations in the River West TIF, where we anticipate the dollars coming from, will be reduced by $4.6 million a year. Phil Faccenda, Barnes and Thornburg, LLP, stated the project is $36 - $38 million. The main library is anticipating issuing a $5 million bond obligation bond in 2018 and a $15 million bond in 2019. They have a bond rolling off from 2007 so debt service will not increase over 2017 levels. There is a $2 million equity contribution that will be used for furnishings. The Community Foundation has pledged $10 million to the project making it truly a private/public partnership. We are anticipating the start of construction as early as summer 2019. The Community Foundation has also agreed to an additional $4 million that will be reimbursed when the City issues their bond, to begin construction in 2019. Deb Futa, Executive Director of the St Joseph County Library handed the Commission a presentation. The common thought about the role of the main library is to get books, however, the library provides so much more to the entire community. The library provides 1,270 programs for all age levels including computer training, after school programs, story hours and lifelong learning opportunities. There are programs that help parents understand their children by providing training and classes. There are 114,000 people in St Joseph County with library cards and of those 68,000 live in South Bend. The main library provides free Wi-Fi for personal devices and people who used the main library computers logged 178,000 hours. The main library provides multiple meeting rooms for many organizations. There are residents in every district that use the main library branch. The main library was built in 1960 and renovated in 1989, it was never meant to host meetings, events and collaborations that are happening today. In 2007 it was decided to invest $15 million in neighborhood communities by updating current libraries and building four new ones. This was done with the intent to start on the main library in 2019. In 2017 KBA, a consulting firm, was hired and asked people what they were looking for in a main library. The community responded with ideas such as an inviting and intuitive building, areas for activity and quiet study, outdoor space to serve as a civic common area, spaces for young children and teens along with accessible meeting rooms and a place to eat. The library then hired Robert Stern, RASMA to develop a master plan. The new library development will have children’s spaces, teen spaces for after school, a community living room, meeting rooms for groups such as Workforce Development and online course accomplishments. A courtyard will provide outdoor meeting and event space. The auditorium will provide space for lectures and performances. Wayne Street will host a café and a tech space area where they can host early or late events without opening the entire library. This will be a great destination place for the entire community and an anchor location in the downtown. The main library is a space that brings people together. Phil Faccenda outlined the timeline for approvals. The first step is here today. If the Commission approves these three items, the next step will be the Common Council for a first reading on a bond resolution on Monday. Two weeks later the Common Council will meet again to discuss and adopt the bond ordinance and MOU on behalf of the City. On November 26th the Library Board will meet to adopt South Bend Redevelopment Commission Regular Meeting – November 8, 2018 the documents at their meeting. The bond will be backed by TIF. Upon a motion by Commissioner Ferlic, seconded by Secretary Inks, the motion carried unanimously, the Commission approved MOU (TIF Revenue to EDC for South Bend Community Learning Center Project) submitted on Thursday, November 8, 2018. 2. Resolution No. 3462 (Pledging TIF Community Education Center Project) Randy Rampola with Barnes and Thornburg presented Resolution No. 3462, pledging TIF for the Community Education Center Project. This Resolution follows the MOU in which you will be pledging TIF from the River West Development Area to pay for the debt service on the bonds. Common Council has a bond ordinance before them for first reading in which they would approve Economic Revenue Bonds. The proceeds of those bonds would be available to the library. The payment laid out from the budget resolution would be on parity with certain bonds that have prior pledges of TIF. One is for the Airport and the other is Downtown. Todd Samuelson from Umbaugh will speak to this further. The bonds will not be issued until 2021. Todd Samuelson, Umbaugh provided a preliminary analysis to assist both the City and Redevelopment Commission in consideration of the proposed bonds. The schedules present unaudited and limited information. Most of the report is for most of the River West area. The $4 million is the net proceeds. A debt service reserve and issuance costs will be paid out of the gross proceeds. The annual payments are around $460,000. There is plenty of coverage to market this as a revenue bond. Upon a motion by Vice-President Varner, seconded by Commissioner Ferlic, the motion carried unanimously, the Commission approved Resolution No. 3462 (Pledging TIF Community Education Center Project) submitted on Thursday, November 8, 2018. 3. Resolution No. 3463 (Authorizing and Delivery of MOU for St Joseph County Public Library Proposed Projects) Mr. Mueller presented Resolution No. 3463, authorizing the delivery of MOU for the St Joseph County Public Library proposed project. This Resolution approves the MOU. Upon a motion by Vice-President Varner, seconded by Commissioner Ferlic, the motion carried unanimously, the Commission approved Resolution No. 3463 (Authorizing and Delivery of MOU for St Joseph County Public Library Proposed Projects) submitted on Thursday, November 8, 2018. 4. Budget Request (Downtown Cross Streets Streetscape) Mr. Silveus presented a budget request to close out the Downtown Cross Streets Streetscape project. This is part of the complete street project on Colfax between Main Street and Michigan Street. The streetscape project addressed elements below ground as well as typical above ground lighting, landscapes, curbs and sidewalks. We are requesting $29,000 which will be moved from other projects. South Bend Redevelopment Commission Regular Meeting – November 8, 2018 Upon a motion by Secretary Inks, seconded by Commissioner Phillips, the motion carried unanimously, the Commission approved Budget Request (Downtown Cross Streets #2) submitted on Thursday, November 8, 2018. 5. Temporary Access Agreement (1019 S Michigan) Mr. Buckenmeyer presented the Temporary Access Agreement for 1019 S Michigan St. This is an access agreement for the Burke Building on Garst and Michigan. We would like to see it saved. This is an opportunity for a local business to go in with architects to see if they can utilize and save the building. Upon a motion by Vice-President Varner, seconded by Commissioner Phillips, the motion carried unanimously, the Commission approved Access Agreement (1019 S Michigan) submitted on Thursday, November 8, 2018. B. Administrative 1. Professional Services Agreement (Engineering) Mr. Mueller presented a Professional Services Agreement for the Engineering Department. This agreement is for a part-time consultant to help with projects related to Commission. With the number of projects, there is a need for an addition person to help oversee them. Upon a motion by Vice-President Varner, seconded by Secretary Inks, the motion carried unanimously, the Commission approved the Professional Services Agreement (Engineering) submitted on Thursday, November 8, 2018. 6. Progress Reports A. Tax Abatement 1. South Bend Ethanol 2. Western Avenue Development 3. Rezone opportunity at SR 23 and the Bypass. This is part of the annexation of 300 acres that is privately owned. B. Common Council C. Other 7. Next Commission Meeting: Monday, November 19, 2018, 9:30 a.m. 8. Adjournment Thursday, November 8, 2018, 10:17 a.m. David Relos, Property Development Manager Marcia I. Jones, President