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It is 3:34
April 16th, so we'll call this meeting

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to order. We have a quorum.
First order of business is to approve

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the minutes. Is there a motion to
approve the minutes?

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So moved.
Second. Thank you. All those in favor

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Well, are there any clarifications or
amendments?

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Corrections to the minutes?

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All those in favor, please say I. I.
>> I.

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All those opposed, please say nay.
Any abstentions?

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The minutes are approved.
Next order of business is the approval

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of the claims.
Is there any discussion about the claims

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brought forward this month?

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Hearing none, is there a motion to
approve the minutes? Uh sorry, to

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approve the claims.
So moved.

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Thank you.
Second. Thank you.

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All those in favor of approving the
claims, please say I. I. All those

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opposed, please say nay.
Any abstentions?

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The
claims have been approved.

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Is there any unfinished business to be
brought before the commission?

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Hearing and seeing none, we'll move on
to new business.

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First order of new business is a
contract proposal from Baker Tilly.

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Good afternoon.
We

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as we were looking through, there's a
new requirement I'll start back at

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There's a new requirement in our state
statute that requires

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any
municipal entity or public entity to

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post on their website their
services with financial advisors. And so

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as we started going through what current
contracts existed for the RDC, we

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realized that we had not executed a new
agreement for Baker Tilly for 2026. So,

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um, they
obviously they were here last month.

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They assisted on the April 15th
um, tip report uh, and have continued to

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provide as needed basis as needed
services. So, uh, we reached out and

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asked them to provide a contract for
2026.

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Um, they've done so. Uh, it's set up to
be DocuSign, so you do not have a

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physical copy of it today.
Um, but the request would be for you to

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approve the Baker Tilly financial
uh,

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analyst agreement for 2026 for the
Redevelopment Commission. As you know,

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they assist in many of those kind of
ongoing uh, regular reporting

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obligations that the RDC has to
both the city council

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uh, and to
to the Department of Local Government

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Finance. So, the request would be to
authorize Greg to sign that um, on your

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behalf
via DocuSign.

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Uh,
is is there any difference between 26

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and 25?
>> I think the only thing would be updated

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rates um, for them, which most folks are
updating their rates. And I I frankly

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did not go back to look at what the
comparison with rates are. Um, but

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they've been very fair with us. Okay.
And and then the other question that I

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have is there are
um, certain statements in that amendment

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uh, specifying that the city will do
certain things.

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Has the city already agreed to do those
and are those already in place? Cuz it's

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beyond the scope of the RDC. Yeah, so
there some of those things are

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obligations of the of the uh,
controller's office cuz the controller's

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office serves as treasurer to the
Redevelopment Commission. And so, those

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would be some of those obligations under
that agreement. Okay. And they're

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already in place to do those things.
Yeah, or or we will make them in place

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to do them. Yes, sir. Okay.

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Any other questions about the updated
contract with Baker Tilly?

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Is there a motion to approve the
contract?

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» I guess I do have one other question. So
So what we were provided was the

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amendment to the basic contract. Is
there a broad city-wide document or

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» so there there's a 2020 2024 the
Redevelopment Commission entered into an

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agreement with Baker Tilly and as many
of those are they just do an amendment

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each year to kind of update scope and
update rates. And so that's that's what

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you've been provided as the amendment to
the Okay, so the So the base contract is

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still in place. This is just the 2026
amendment to that base contract.

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» and rates would be the things that would
changed. Okay, thank you.

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Any other questions about the
updated contract with Baker Tilly and

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the city of Lawrence?

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In so far as it pertains to the Economic
Redevelopment Commission, is there a

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motion to approve the contract?
So moved.

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Second. Thank you.
All those in favor of approving the

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contract, please say I. I.
>> I. All those opposed, please say nay.

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Any abstentions?
So the contract is approved.

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The next item on the agenda is the
Executive Director's report. Thank you.

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So Greg Goodnight, Executive Director of
City of Lawrence Redevelopment

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Commission. Just a few things. Just a
reminder, we have the opening of the

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bids
for the Pendleton Pike Islands next

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Friday the week of 4:24 at 2:00 p.m.
Um

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just
had a couple meetings with different

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local property owners about their
desires to redevelop their properties

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and their willingness to do that
possibly themselves or with uh

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working with the developer. Uh we've had
multiple meetings with multi-family

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developers
uh throughout looking at different parts

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of Lawrence. And um just if if you
didn't watch the April 6th City Council

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meeting, uh Dustin Meeks from Barnes &
Thornburg uh I thought he gave a nice

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explanation to a
to the to the council as to why city

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should be focusing on residential
development versus commercial

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development. So if you get a chance to
go back and review that, it's just a

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couple minutes. But I thought he did a
good job and

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kind of nice information.
Um other than that, I'm open for any

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questions.
Yeah, Greg. Um

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in the

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in the bills that were paid
this month that we approved, there was

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something regarding the Monarch property
with Project Indigo.

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I don't that wasn't familiar to me. Is
that something that we've already

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approved or something that we're going
to be hearing about or

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Do you have those claims
claims in front of you?

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It was from Creek DeVault, I believe.
Oh, that

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we from time to time that I'm going to
guess. Do you remember what the amount

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was? Was it a few hundred bucks?
Um I don't remember off the top of my

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head. I think it was more than that.
Okay. I think it was almost a thousand.

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So so so from time to time we'll get
calls from the Indy Chamber,

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different groups,
uh economic

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Indy what's the Indy Economic
Development Corporation?

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And they'll they'll have leads on on the
Monarch property and we'll kind of

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compile and give them some data on that.
And I'm guessing that might that might

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be what that's for. I'd have to go back
and look at it.

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Okay.

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Any other thing? Yeah, it was a it was a
thousand dollars for Project Indigo,

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which again was not anything that
So

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that be a uh
A lot of times the economic development

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agencies will use a project name as
they're looking for potential sites.

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And so, one of the things that
backfilling that space,

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looking at
restrictions in the existing bond

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documents, looking at looking at how the
bond documents might be modified in

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order to incentivize a new potential
user to come in. So, CREE CREE has

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served as
the the

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redevelopment commission has not issued
any bonds in this administration. Has

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been kind of in that capacity and so,
I'm not bond counsel and so, if you have

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bond counsel questions, we would depend
on CREE develop for feedback on those

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types of questions. So, that would be
the

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the project name, I believe is probably
what as Greg described. It is coming

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from
one of the economic development

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organizations, whether that's a state or
local.

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They would have attached that as a
potential applicant and then would have

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been looking at the Monarch TIF
specifically to see if there were

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opportunities for modification or
utilization of

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incentives in that TIF district for that
purpose.

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» Okay. Do we have any feedback on that or
is it still in the works or

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» I have not heard anything back from it.
And that that happens every couple

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months. They'll have some sort of lead
and they'll they kind of put it in their

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in in their portfolios as potential
options within Marion County or the

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general area. It seems like the last one
did

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did it have the term the the title
Cherry Blossom? I think that was one of

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cuz they usually don't disclose who the
who the corporation is or something, but

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they usually give them names like that,
so it's kind of

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Okay. Yeah.
All right. Thank you. Yeah, thanks.

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Anything else?

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Is there an update on the overlay
district?

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We have had
Yeah, I I am I actually neglected to

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give that to you last month. I meant to
give you an update on that last month.

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We actually had a meeting
um with RAA, Greg, and myself uh with

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the city of Indianapolis
2 weeks ago Monday uh about it. The city

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of Indianapolis gave us some feedback,
some

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verbal feedback, and we were
anticipating getting their written

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comments and feedback.
Um

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it's overdue from the city of
Indianapolis. They wanted to

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There were some tweaks that they asked
us to consider making, um which we not

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seen in yet. Uh once we see them, we
will con- socialize that or circulate

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that as appropriate. Uh and once we have
an agreement that the city of

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Indianapolis planning staff will
support, then we can move forward with

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the introduction and moving forward.
Uh we did emphasize the goal of having

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that completed yet this year. Um so that
continues to be the the timeline that

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we're working on.
Thank you.

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I have nothing else. Anything else?

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All right.

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Is there any other business to come
before the commission? I I apologize. I

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should I was reminded of this when we
were handed out the summary of of funds.

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Um we spoke Andy Mazur when he was here
last month. We were talking through the

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various funds the three development
commission has, and fund 408 uh is a

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debt reserve fund that is tied to the
bonds that were just paid off, the

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Pendleton Pike bonds that were just paid
off uh

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in December of last year.
So that is a bond um

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debt reserve for
that is no longer necessary to be held

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in a segregated account.
Uh

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his suggestion was that we could simply
uh as redevelopment commission

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um
authorize the transfer of those funds to

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406, which is kind of your your main
spending account. Uh and and closing out

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uh 408. So, I would ask that the
commission um just take that action of

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00:11:55,600 --> 00:12:02,760
authorizing the controller's office to
uh

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to transfer funds from 408 to fund 406
and close out of 408 as it is no longer

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needed.

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Does anybody have any questions
about that before we take action?

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Just clarify
when you issue new bonds, generally you

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will have a debt reserve that's a
requirement of the of the bond documents

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and that's required to be held in a
segregated account if in So, in the

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event that you could never make a bond
payment, they would you would call upon

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00:12:37,560 --> 00:12:45,000
that debt reserve to make that payment.
Now that those bonds are retired, you no

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00:12:41,600 --> 00:12:47,280
longer need that debt reserve. Mhm.
I could tell there was a question

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00:12:45,920 --> 00:12:49,440
coming, so I was trying to preemptively
answer.

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00:12:49,680 --> 00:12:54,880
It may have been for me. I didn't have
one yet.

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00:12:52,080 --> 00:12:54,880
Thank you for that.

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00:12:56,440 --> 00:13:01,400
I'm assuming that's a
It seems like a pretty straightforward

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and risk-free move.
Yeah, you you don't you can't access you

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00:13:04,120 --> 00:13:10,640
can't spend money out of that fund. So,
in order to access that $185,000,

184
00:13:09,240 --> 00:13:15,600
you need to move it out of that fund for
that purpose. Okay.

185
00:13:12,400 --> 00:13:20,080
Is there a motion to transfer the
the remaining funds in the debt

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00:13:17,839 --> 00:13:24,240
reserve the bond debt reserve from 408
to 406?

187
00:13:22,880 --> 00:13:26,520
So moved.
Second.

188
00:13:25,320 --> 00:13:31,440
Thank you. All those in favor, please
say I. I.

189
00:13:29,040 --> 00:13:35,520
All those opposed, please say nay.
Any abstentions?

190
00:13:33,280 --> 00:13:39,080
So, that motion is passed.
Sure.

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00:13:37,880 --> 00:13:41,960
Is there any other business to come
before the commission?

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00:13:44,400 --> 00:13:50,320
Seeing and hearing none,
is there a motion to adjourn?

193
00:13:51,080 --> 00:13:55,920
So moved.
Second.

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00:13:54,200 --> 00:14:00,280
Thank you.
This meeting is adjourned at 3:48.