[0:01] It is 3:34
April 16th, so we'll call this meeting
[0:05] to order. We have a quorum.
First order of business is to approve
[0:10] the minutes. Is there a motion to
approve the minutes?
[0:14] So moved.
Second. Thank you. All those in favor
[0:19] Well, are there any clarifications or
amendments?
[0:25] Corrections to the minutes?
[0:28] All those in favor, please say I. I.
>> I.
[0:32] All those opposed, please say nay.
Any abstentions?
[0:36] The minutes are approved.
Next order of business is the approval
[0:40] of the claims.
Is there any discussion about the claims
[0:45] brought forward this month?
[0:55] Hearing none, is there a motion to
approve the minutes? Uh sorry, to
[0:59] approve the claims.
So moved.
[1:03] Thank you.
Second. Thank you.
[1:07] All those in favor of approving the
claims, please say I. I. All those
[1:11] opposed, please say nay.
Any abstentions?
[1:16] The
claims have been approved.
[1:20] Is there any unfinished business to be
brought before the commission?
[1:27] Hearing and seeing none, we'll move on
to new business.
[1:30] First order of new business is a
contract proposal from Baker Tilly.
[1:38] Good afternoon.
We
[1:42] as we were looking through, there's a
new requirement I'll start back at
[1:45] There's a new requirement in our state
statute that requires
[1:49] any
municipal entity or public entity to
[1:52] post on their website their
services with financial advisors. And so
[1:58] as we started going through what current
contracts existed for the RDC, we
[2:02] realized that we had not executed a new
agreement for Baker Tilly for 2026. So,
[2:08] um, they
obviously they were here last month.
[2:11] They assisted on the April 15th
um, tip report uh, and have continued to
[2:16] provide as needed basis as needed
services. So, uh, we reached out and
[2:20] asked them to provide a contract for
2026.
[2:24] Um, they've done so. Uh, it's set up to
be DocuSign, so you do not have a
[2:28] physical copy of it today.
Um, but the request would be for you to
[2:32] approve the Baker Tilly financial
uh,
[2:37] analyst agreement for 2026 for the
Redevelopment Commission. As you know,
[2:40] they assist in many of those kind of
ongoing uh, regular reporting
[2:44] obligations that the RDC has to
both the city council
[2:49] uh, and to
to the Department of Local Government
[2:52] Finance. So, the request would be to
authorize Greg to sign that um, on your
[2:56] behalf
via DocuSign.
[3:00] Uh,
is is there any difference between 26
[3:03] and 25?
>> I think the only thing would be updated
[3:06] rates um, for them, which most folks are
updating their rates. And I I frankly
[3:10] did not go back to look at what the
comparison with rates are. Um, but
[3:13] they've been very fair with us. Okay.
And and then the other question that I
[3:16] have is there are
um, certain statements in that amendment
[3:21] uh, specifying that the city will do
certain things.
[3:24] Has the city already agreed to do those
and are those already in place? Cuz it's
[3:28] beyond the scope of the RDC. Yeah, so
there some of those things are
[3:32] obligations of the of the uh,
controller's office cuz the controller's
[3:36] office serves as treasurer to the
Redevelopment Commission. And so, those
[3:41] would be some of those obligations under
that agreement. Okay. And they're
[3:44] already in place to do those things.
Yeah, or or we will make them in place
[3:47] to do them. Yes, sir. Okay.
[3:53] Any other questions about the updated
contract with Baker Tilly?
[4:04] Is there a motion to approve the
contract?
[4:06] » I guess I do have one other question. So
So what we were provided was the
[4:09] amendment to the basic contract. Is
there a broad city-wide document or
[4:14] » so there there's a 2020 2024 the
Redevelopment Commission entered into an
[4:18] agreement with Baker Tilly and as many
of those are they just do an amendment
[4:22] each year to kind of update scope and
update rates. And so that's that's what
[4:27] you've been provided as the amendment to
the Okay, so the So the base contract is
[4:31] still in place. This is just the 2026
amendment to that base contract.
[4:34] » and rates would be the things that would
changed. Okay, thank you.
[4:43] Any other questions about the
updated contract with Baker Tilly and
[4:47] the city of Lawrence?
[4:52] In so far as it pertains to the Economic
Redevelopment Commission, is there a
[4:57] motion to approve the contract?
So moved.
[5:03] Second. Thank you.
All those in favor of approving the
[5:07] contract, please say I. I.
>> I. All those opposed, please say nay.
[5:12] Any abstentions?
So the contract is approved.
[5:17] The next item on the agenda is the
Executive Director's report. Thank you.
[5:23] So Greg Goodnight, Executive Director of
City of Lawrence Redevelopment
[5:26] Commission. Just a few things. Just a
reminder, we have the opening of the
[5:31] bids
for the Pendleton Pike Islands next
[5:35] Friday the week of 4:24 at 2:00 p.m.
Um
[5:40] just
had a couple meetings with different
[5:43] local property owners about their
desires to redevelop their properties
[5:46] and their willingness to do that
possibly themselves or with uh
[5:51] working with the developer. Uh we've had
multiple meetings with multi-family
[5:55] developers
uh throughout looking at different parts
[5:58] of Lawrence. And um just if if you
didn't watch the April 6th City Council
[6:04] meeting, uh Dustin Meeks from Barnes &
Thornburg uh I thought he gave a nice
[6:08] explanation to a
to the to the council as to why city
[6:12] should be focusing on residential
development versus commercial
[6:15] development. So if you get a chance to
go back and review that, it's just a
[6:17] couple minutes. But I thought he did a
good job and
[6:21] kind of nice information.
Um other than that, I'm open for any
[6:24] questions.
Yeah, Greg. Um
[6:28] in the
[6:31] in the bills that were paid
this month that we approved, there was
[6:35] something regarding the Monarch property
with Project Indigo.
[6:40] I don't that wasn't familiar to me. Is
that something that we've already
[6:43] approved or something that we're going
to be hearing about or
[6:47] Do you have those claims
claims in front of you?
[6:51] It was from Creek DeVault, I believe.
Oh, that
[6:56] we from time to time that I'm going to
guess. Do you remember what the amount
[7:00] was? Was it a few hundred bucks?
Um I don't remember off the top of my
[7:04] head. I think it was more than that.
Okay. I think it was almost a thousand.
[7:08] So so so from time to time we'll get
calls from the Indy Chamber,
[7:13] different groups,
uh economic
[7:16] Indy what's the Indy Economic
Development Corporation?
[7:19] And they'll they'll have leads on on the
Monarch property and we'll kind of
[7:23] compile and give them some data on that.
And I'm guessing that might that might
[7:27] be what that's for. I'd have to go back
and look at it.
[7:30] Okay.
[7:35] Any other thing? Yeah, it was a it was a
thousand dollars for Project Indigo,
[7:38] which again was not anything that
So
[7:42] that be a uh
A lot of times the economic development
[7:46] agencies will use a project name as
they're looking for potential sites.
[7:54] And so, one of the things that
backfilling that space,
[7:59] looking at
restrictions in the existing bond
[8:03] documents, looking at looking at how the
bond documents might be modified in
[8:07] order to incentivize a new potential
user to come in. So, CREE CREE has
[8:13] served as
the the
[8:17] redevelopment commission has not issued
any bonds in this administration. Has
[8:21] been kind of in that capacity and so,
I'm not bond counsel and so, if you have
[8:25] bond counsel questions, we would depend
on CREE develop for feedback on those
[8:29] types of questions. So, that would be
the
[8:32] the project name, I believe is probably
what as Greg described. It is coming
[8:37] from
one of the economic development
[8:40] organizations, whether that's a state or
local.
[8:43] They would have attached that as a
potential applicant and then would have
[8:47] been looking at the Monarch TIF
specifically to see if there were
[8:51] opportunities for modification or
utilization of
[8:55] incentives in that TIF district for that
purpose.
[8:57] » Okay. Do we have any feedback on that or
is it still in the works or
[9:00] » I have not heard anything back from it.
And that that happens every couple
[9:04] months. They'll have some sort of lead
and they'll they kind of put it in their
[9:08] in in their portfolios as potential
options within Marion County or the
[9:13] general area. It seems like the last one
did
[9:15] did it have the term the the title
Cherry Blossom? I think that was one of
[9:19] cuz they usually don't disclose who the
who the corporation is or something, but
[9:23] they usually give them names like that,
so it's kind of
[9:27] Okay. Yeah.
All right. Thank you. Yeah, thanks.
[9:30] Anything else?
[9:34] Is there an update on the overlay
district?
[9:38] We have had
Yeah, I I am I actually neglected to
[9:43] give that to you last month. I meant to
give you an update on that last month.
[9:47] We actually had a meeting
um with RAA, Greg, and myself uh with
[9:52] the city of Indianapolis
2 weeks ago Monday uh about it. The city
[9:58] of Indianapolis gave us some feedback,
some
[10:02] verbal feedback, and we were
anticipating getting their written
[10:06] comments and feedback.
Um
[10:09] it's overdue from the city of
Indianapolis. They wanted to
[10:13] There were some tweaks that they asked
us to consider making, um which we not
[10:17] seen in yet. Uh once we see them, we
will con- socialize that or circulate
[10:21] that as appropriate. Uh and once we have
an agreement that the city of
[10:25] Indianapolis planning staff will
support, then we can move forward with
[10:28] the introduction and moving forward.
Uh we did emphasize the goal of having
[10:32] that completed yet this year. Um so that
continues to be the the timeline that
[10:37] we're working on.
Thank you.
[10:45] I have nothing else. Anything else?
[10:49] All right.
[10:57] Is there any other business to come
before the commission? I I apologize. I
[11:00] should I was reminded of this when we
were handed out the summary of of funds.
[11:05] Um we spoke Andy Mazur when he was here
last month. We were talking through the
[11:10] various funds the three development
commission has, and fund 408 uh is a
[11:14] debt reserve fund that is tied to the
bonds that were just paid off, the
[11:19] Pendleton Pike bonds that were just paid
off uh
[11:22] in December of last year.
So that is a bond um
[11:26] debt reserve for
that is no longer necessary to be held
[11:31] in a segregated account.
Uh
[11:34] his suggestion was that we could simply
uh as redevelopment commission
[11:39] um
authorize the transfer of those funds to
[11:42] 406, which is kind of your your main
spending account. Uh and and closing out
[11:49] uh 408. So, I would ask that the
commission um just take that action of
[11:55] authorizing the controller's office to
uh
[11:58] to transfer funds from 408 to fund 406
and close out of 408 as it is no longer
[12:05] needed.
[12:13] Does anybody have any questions
about that before we take action?
[12:23] Just clarify
when you issue new bonds, generally you
[12:26] will have a debt reserve that's a
requirement of the of the bond documents
[12:30] and that's required to be held in a
segregated account if in So, in the
[12:34] event that you could never make a bond
payment, they would you would call upon
[12:37] that debt reserve to make that payment.
Now that those bonds are retired, you no
[12:41] longer need that debt reserve. Mhm.
I could tell there was a question
[12:45] coming, so I was trying to preemptively
answer.
[12:49] It may have been for me. I didn't have
one yet.
[12:52] Thank you for that.
[12:56] I'm assuming that's a
It seems like a pretty straightforward
[12:58] and risk-free move.
Yeah, you you don't you can't access you
[13:04] can't spend money out of that fund. So,
in order to access that $185,000,
[13:09] you need to move it out of that fund for
that purpose. Okay.
[13:12] Is there a motion to transfer the
the remaining funds in the debt
[13:17] reserve the bond debt reserve from 408
to 406?
[13:22] So moved.
Second.
[13:25] Thank you. All those in favor, please
say I. I.
[13:29] All those opposed, please say nay.
Any abstentions?
[13:33] So, that motion is passed.
Sure.
[13:37] Is there any other business to come
before the commission?
[13:44] Seeing and hearing none,
is there a motion to adjourn?
[13:51] So moved.
Second.
[13:54] Thank you.
This meeting is adjourned at 3:48.