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A
The
special
meeting
today
and,
as
you
know,
all
right,
we
have
suggested
that
we
not
have
the
October
4th
meeting
since
we're
conducting
most
of
the
business
today,
that's
of
importance,
and
so
I
just
want
to
make
sure
we're
aware
of
that.
So
at
the
end
we
can
make
that
known,
but
Mr
chairman
I'll,
let
you
start.
B
C
The
next
item
claims
approval,
so
we've
got
one
claim:
Jacobi
tombs
for
two
thousand
five
hundred
ninety
dollars
for
RDC
on-call
services.
I
think
everybody's
had
a
chance
to
review
that
a
motion
to
approve.
D
C
Second,
we'll
lose
in
favor
another
couple:
Bond
payments
disbursement
number
one:
one
million
two
hundred
thousand
two
hundred
twenty
five
dollars
for
the
Eastern
parcel
purchase;
number
two:
twenty
nine
thousand
five
hundred
sixty
four
dollars
and
ninety
cents
to
JTL;
and
then
disbursement
number,
three,
eight
thousand,
four
hundred
ninety
seven
dollars
and
fifty
cents.
Any
questions
on
those
motion
to
approve
cell
moved.
Second,
second,
all
those
in
favor
next
item
old
business.
A
Yes,
on
the
phone
today
is
Tom
Pittman
who's,
our
legal
counsel,
with
Barnes
and
Thornburg.
If
there
are
questions
Tom's
right,
there.
B
We
have
you
here
with
us.
You.
A
Thank
you,
Gary
Smith
is
here
with
3D
Financial
as
well.
The
resolution
is
authorizing
you
to
execute
an
agreement
and
the
Redevelopment
Authority,
and
that
Redevelopment
Authority
was
set
up
per
state
statute
and
approved
by
the
city
council
at
the
last
city
council.
Meeting.
Those
appointed
to
that
by
the
mayor
will
be
Ashley,
Pennington,
David,
Ott
and
Kevin
Watkins.
So
those
are
the
three
members
to
the
RDA
that
ultimately
are
under
the
RDC.
B
A
D
Know
the
the
most
direct
way
to
have
done
this
would
have
been
for
the
Redevelopment
commission
to
Simply,
do
a
bond
issue
and
and
make
the
improvements
to
to
Crystal
Beach
Park.
Unfortunately,
there
are
various
roadblocks
to
having
the
the
Redevelopment
commission
do
a
direct
bond
issue
like
that,
and
so
in
order
to.
A
D
Around
those
obstacles,
financing
can
be
converted
from
direct
financing
to
what's
called
a
lease
financing.
Where
this
body,
the
Redevelopment
Authority,
gets
created
to
act
as
a
less
or
of
the
project
to
the
commission,
The
Authority
issues,
the
bonds
makes
the
improvements
acquires
Crystal
Beach
cool
from
the
city
and
leases
it
to
the
commission,
the
idea
being
that
the
commission
is
able
to
make
Debt
Service
payments
in
the
form
of
lease
payments
that
it
could
not
legally
make
in
the
form
of
direct
Bond
payment.
So
you
end
up
with
this
structure.
D
D
In
their
case,
they
usually
create
a
building,
Corporation
and
then
and
then
lease
the
project
down
and
they're,
trying
to
avoid
the
same
debt
limits
and
other
restrictions
that
you're
needing
to
avoid
here,
so
just
think
of
it
as
a
as
as
really
in
substance,
the
same
as
a
direct
financing,
except
that
you're
paying
lease
payments
instead
of
debt
payments
in
the
your
lease
payments
are
being
used
by
the
authority
to
repay
their
bond.
D
So
that's
kind
of
the
the
legal
structure
and
the
explanation
of
why
you're
we're
recommended
that
this
be
done
as
a
lead.
D
Now,
when
you
do
a
lease
financing,
the
commission,
which
will
pay
the
lease
rentals,
is
required
to
hold
a
public
hearing
on
whether
the
commission
wants
to
do
the
lease
financing
and
then
to
pass
a
resolution
determining
that
the
terms
of
the
lease
are
are
fair
and
so
that
that's
really
what
this
resolution
does
and
her
procedurally
will
need
you
to
have
a
public
hearing
at
this
time
and
call
for
any
public
input
on
the
you
know,
Prudence
of
moving
forward
with
this
pool
project.
Okay,.
E
So
since
we
don't
always
do
this,
so
if
somebody
would
be
just
move
to
spend
the
meeting
and
and
open
the
floor
for
a
public
hearing,
if
there's
anybody
here
which
doesn't
appear
that
there
is,
you
can
ask
for
public
comments
and
then
close
that
public
hearing
and
go
back
to
the
meeting.
A
C
D
Yes,
if
you
could
let
the
minutes
reflect,
have
the
minutes
reflect
that
you
thought
that
you
opened
it
to
a
public
hearing
called
public
comments
and
that
there
was
none.
So
with
that
done.
You
are
in
a
position,
then,
to
consider
passage
of
this
resolution,
finding
that
the
lease
payments
are
fair
and
taking
related
actions,
so.
A
Yes,
a
commission
I
would
like
to
introduce
Gary
Smith
just
to
briefly
talk
through
the
current
financial
situation.
As
we
see
it
and
before
you
do
consider
this
resolution.
So.
B
F
Gary
Smith,
as
Tony
mentioned
I,
wanted
to
discuss
just
the
financing
a
little
bit,
because
there
is
an
underlying
bond
issue
that
the
police
payments
are
part
of
at
this
time,
we're
contemplating
a
five
million
dollar
total
par
amount
for
the
bonds,
I
believe
in
your
documents
in
front
of
you,
there's
a
425
000
maximum
annual
lease
rental
payment.
F
So,
as
far
as
how
is
that
to
be
funded,
our
goal
and
the
options
that
we're
sharing
with
the
city
at
this
time
contemplate
two
things
as
a
repayment,
Source
One
would
be
all
available.
Revenue
Pledge
of
the
city
City
would
make
available
for
Debt.
Service
payments
could
be
made
available
for
Debt
Service
payments
and
then,
secondly,
property
tax
levy
up
into
the
point
where
it
would
be
pair
neutral.
So
we're
working
through.
You
know,
assessments
and
levies,
as
it
goes
through
sort
of
certification
process
to
determine
what
that
you
know
neutral
tax
bill.
F
B
Yeah
and
I'll
mention
there,
there's
probably
there's
one
other
source
I
mean
there
is
commitments
from
Redevelopment,
commission
or
other
sources
of
monies,
because
we
are,
we
are
talking
to
other
about
contributing
to
the
annual
Debt
Service.
All
of
that's
going
to
come
in
into
form
a
pool
of
funds
for
the
debt
repayment,
so
Redevelopment
commission
will
be
involved,
city
maps
will
be
involved,
we've
approached
County
and.
B
B
Not
just
you
know,
a
tax
limit
that
keeps
us
or
a
property
tax
Liberty
that
keeps
us
tax
rate
Mutual,
it's
other
sources
that
would
also
you
know.
A
B
Amended
ordinance
tonight
for
the
arpa
monies
that
we
have.
We
have
approximately
two
million
dollars
left
and
ask
Council
to
appropriate
a
million
dollars
toward
Crystal
Beach,
as
well
as
other
there's
more
monies
in
there
for
Park
upgrades.
D
B
Yep
still
working
through
where
we're
Landing
costs,
you
know
we're
going
through
the
bidding
process.
Now
for
the
militia,
we
haven't
published
a
set
of
specs
and
plans
yet
for
bidding
for
the
replacement
of
the
pool,
we're
still
looking
at
interest
rates
and
the
best
financing
structure
and
repayment
sources,
but.
B
A
parallel
track
because
we
have
three
entities
that
are
involved
in
bringing
it
all
together
on
a
pretty
compressed
time
frame,
which
is
why
we're
doing
the
resolutions
with
all
three
entities
this
week.
So
we
can
Tee
It
Up
and
then
we'll
come
back
once
it's
refined.
Each
board
will
have
you
know
the.
A
C
B
I
was
going
to
ask
well,
do
we
need
Tom
anymore
Tom,
any
time
I.
B
A
B
You
know
I'll,
ask
Tony
and
Gary
if
we
wanted
to
do
the
monthly
financial
review.
That's
in
the
package,
if
there's
anything
you
want
to
highlight
about
it
again.
Some
of
these
projects
that
I'm
going
to
talk
about
on
the
mayor's
update
are
injected
frequently
through
our
Capital
planning
process.
So
we've
been
going
over
for
the
last
couple
of
years,
and
so
some
of
the
numbers
continue
to
move
around,
not
materially,
but
I.
A
Yeah
I
would
ask
Gary
real
quick
just
to
talk
currently
about
the
assess
valuation
that
you're
seeing
throughout
the
state
and
were
you
seeing.
We
are
here
in
Jefferson
County
and
that
impact
that
potentially
has
on
future
Revenue.
F
Yeah
across
the
state,
the
number
was
floated
today
in
the
office
we're
seeing
about
15
percent
and
growth
across
the
board.
Certified
net
assist
values
for
communities.
The
city
of
Madison
grew
just
over
six
percent
from
pay
22
to
pay
23..
F
You
know
so
with
that.
Obviously,
there's
opportunities
for
funding.
One
thing
I
would
say
as
part
of
the
Tiff
neutralization
process,
which
is
how
this
board
derives
their
revenues
on
an
annual
basis.
We
take
the
assessments
from
the
prior
year.
We
neutralize
out
any
growing
factors
that
just
have
to
do
with
trending
values.
We
can't
capture
that,
but
any
new
construction
demolition
pavement
roll
off
things
that
sort
were
eligible
to
capture,
that's
tip
neutralization.
F
Once
the
certified
net
assessment
values
are
released
and
the
auditor's
abstract
comes
out
in
the
spring.
We'll
have
a
really
good
idea
of
what
the
projections
are
going
to
look
like
for
the
Redevelopment,
commission
and
preliminarily.
We're
optimistic
that
we're
going
to
be
seeing
some
increases
in
Revenue
for
pay
23
for
the
Redevelopment
commission,
roughly
to
the
two
and
I
think
we
mentioned
150
000
thereabouts
conservatively
it's
hard
to
say.
That's
an
ironclad
prediction.
B
F
In
a
room
about
way
kind
of
so
Redevelopment
commission's
really
straightforward,
it's
simply
just
the
assessed
value
that
you're
able
to
capture
divided
by
100
tax
rate.
That's
a
total
tax
industry
grade.
It's
a
city,
town
or
excuse
me,
excuse
me
City,
County,
School
library,
all
those
rates
captured
all
the
units.
The
reason
I
say
you
know
kind
of
is
because
the
six-year
non-farm
factor
for
your
maximum
Levy
funds.
F
Breakers
treated
almost
exactly
the
same
way.
Okay,
so
you
know,
if
you
guys
had
a
you
know:
30
circuit
breaker
cap,
for
instance,
circuit
breaker
credit,
and
you
collected
a
million
dollars.
We
would
factor
that
into
your
I
think.
Our
projections
for
revenues
is
about
70
lines,
long
on
all
the
different
things:
the
auditor's,
abstract,
deducts
and
ads,
and
things
like
that
income
taxes
are
a
piece
of
that
too.
So
we're
tracking
all
those
things
on
an
annual
basis.
B
And
the
reason
I
introduced,
those
two
things
that
I
asked
Gary
to
explain
was
the
fact
that,
as
we're
projecting
out
our
revenues,
those
could
impact
potentially
tax
revenues
and
it
becomes
very
complicated
when
you
drill
down
and
try
to
you
know,
look
forward
into
your
into
your
projections
because
of
constitutional
property
tax
caps
and
the
quotients
that
the
lgf
uses
for
levies
yep.
B
Dlgf
is
the
Department
of
local
government
Finance,
it's
a
state,
it's
the
state
branch
of
government
that
regulates
essentially
our
budgets,
and
they
do
a
lot
of
these
calculations.
Working
with
County
assessors
give
us
projections
of
Revenue
that
then
we
factor
into
our
budgets
and
they
have
to
improve
our
annual
budgets.
School
probably
goes
through
same
same
similar
process
anyway,.
B
A
few
comments
you
know,
I
would
like
to
just
talk
about
or
I'll
ask
Tony
show
here
talk
about
the
timetable
that
we've
compiled
with
regard
to
the
Crystal
Beach
project.
It's
it's
one
of
probably
a
half
a
dozen
of
big
projects,
we're
working
on
right
now
across
the
city
Enterprise,
but
it's
one
of
the
most
important
ones
to
our
community
yeah.
A
As
the
mayor
mentioned,
we've
got
a
pretty
aggressive
schedule
here
to
get
the
financing
put
into
place
to
be
able
to
award
construction
here
later
this
year.
As
you,
as
you
know,
the
common
council
did
approve
in
a
little
bit
of
a
hurried
fashion.
They
did
suspend
second
or
third
sorry
third
reading
and
voted
that
night,
so
we
were
able
to
gain
some
time
today.
You've
approved
the
Redevelopment
commission
approved
the
lease
payment
of
the
Redevelopment.
A
Authority
will
be
meeting
this
Thursday
to
put
into
motion
the
bond
issue
associated
with
that
lease
payment
and
to
accept
the
property,
and
they
will
be
adopting
that
resolution
on
Thursday
and
then
tonight
the
common
Council
will
be
adopting
a
resolution
approving
the
lease
and
the
transfer
of
the
property
to
the
RDA.
So
that'll
all
be
happening
here
tonight
at
the
city
council.
There
will
be
us
there
will
be
some
lease
publishing
requirements
here
later
next
week
and
then,
ultimately,
our
goal
is
to
close
and
sell
bonds
before
December
1st.
A
So
the
next
60
days
is
really
about
the
bond
process
itself
and
getting
those
put
together
an
out
to
market
we've
been
through
that
before
here
in
the
spring,
so
that'll
allow
us
to
hopefully
sell
bonds
before
December
1st
our
project.
We
did
take
bids
this
week
yesterday
for
the
demolition
those
are
currently
being
reviewed
by
the
architect.
For
those.
A
We
hope
that
that
process
will
happen
here
in
the
month
of
October
and
early
November
bids,
for
the
pool
will
be
back
in
mid-november
for
the
installation
of
the
pool
and
hopefully
authorize
that
to
proceed
in
December
and
then
with
construction
for
approximately
six
to
seven
months
thereafter.
So
we
can
all
hope
for
a
a
dry
winter.
That
would
be
very
helpful.
I
hope
the
Farmer's
Almanac
is
not
correct.
So
I
saw
that
prediction
yesterday
I
think
in
some
some
report,
so
we
would
hope
for
a
dry
winter
here.
B
Well,
in
addition
to
Crystal,
Beach
I
want
to
highlight
a
few
other
projects
that
we're
spending
a
lot
of
time
on
and
actually
the
last
couple
years
of,
planning
you
know
is
bringing
to
fruition
bidding
and
started
construction
of
some
of
these
things.
We've
been
working
for
the
past.
You
know
14
or
15
months
on
the
ready,
Grant
project,
David
and
Dr
Brown
that
stands
for
the
regional
economic,
accelerated
development
initiative.
B
That's
State,
Assembly
20
21
year
that
authorized
a
half
a
billion
dollars
of
Economic
Development
money
that
was
then
essentially
on
a
competitive
basis
allocated
across
the
state
to
Regional
development
authorities,
of
which
Jefferson
County
is
one
of
five
counties
in
the
southern
Indiana
Regional
Development
Authority
all
done
on
competitive
basis.
It
resulted
in
that
RDA
receiving
50
million
dollars
to
award
city
of
Madison
submitted
two
plans:
a
destination
Madison,
as
well
as
a
Workforce
Development
plan
about
four
or
five
of
our
destination.
B
Mass
and
plans
were
selected
in
the
final
plan
that
was
submitted
to
the
state
and
we've
already
gone
through.
Now.
The
bidding
for
two
of
those-
and
that
is
our
those
are
our
Gateway
enhancements
and
the
Mulberry
Street
Arts
Corridor
Redevelopment
commission's
Been
instrumental
in
all
of
this,
along
the
way
for
either
property
acquisition
or
match
money.
We
did
receive
bids
and
Board
of
Public
Works
at
their
meeting
yesterday
approved
a
1.5
million
dollar
low
bid
for
toshooty.
B
D
A
B
It's
great
those
are
now
going
to
be
coming
out
of
the
ground.
Our
Redevelopment
commission
has
also
been
important
in
a
lot
of
played
important
role
in
a
lot
of
planning.
B
Did
you
know
we
did
a
parking
plan
earlier
this
year
because
we
wanted
to
you
know,
really
take
inventory
of
what
our
parking
parking
stalls
are,
that
we
have
in
the
central
business
district
as
well
as
what
times,
and
you
know
we
had
Peak
usage
so
that
parking
plan
is,
you
know,
proved
I
think
that
we
don't
need
a
parking
garage
so
in
one
respect
that
that
fifty
thousand
dollar
Investments
saving
us
several
millions
of
dollars
because
we're
not
going
to
be
building
a
parking
garage.
B
We
also
did
reveal
the
fact
that
we've
got
to
do
a
better
job
of
informing
visitors
where
our
parking
is
because
we
have
some
of
our
largest
parking
lots
of
being
very
underutilized,
so
we're
doing
wayfinding
now
that'll
be
something
you'll
see
pop
up
across
the
community.
It's
way
finding
to
better
direct
visitors
to
where
parking
is
so
that
it
could
be
better
managed.
B
The
other
thing
that
we
did
was
the
sidewalk
Asset
Management
plan,
where
we
looked
at
all
the
sidewalks
in
Downtown
Madison
and
apply
a
rating
to
them,
similar
to
what
we
do
with
this
with
our
streets,
one
being
the
worst
five
being
the
best
conclusion.
There
was
half
of
our
40
miles
worth
of
sidewalks
were
not
ADA,
complainant,
Compliant
and
several
miles
were
rated
very
poor
to
poor.
So
we
have
bids
out
now
for
approximately
two
hundred
thousand
dollar
investment
in
repair
and
replacement
of
our
worst
rated
sidewalks
downtown.
B
B
But
the
other
thing
that
the
you
know
you
just
saw
on
the
funding
here
and
you
approved-
was
the
acquisition
of
the
East
parcel,
which
we've
already
entered
into
a
an
agreement
to
sell
that
Eastern
parcel
winterwood
for
the
multi-family
development
development
and
we
also
approved
sharing
in
the
cost
of
the
creation
of
stormwater
detention.
Basin
that
is
going
to
have
material
Downstream
benefit
for
the
Crooked
Creek
Watershed,
which
we've
been
working
on
with
the
Corps
of
Engineers
for
the
past
year
and
I.
B
Think
Mike
was
here
a
week
or
so
ago,
and
and
also
talked
to
the
Board
of
Public
Works,
where
we
approve
construction
and
maintenance
from
storm
water.
Detention
Basin,
which
is
under
construction
now
drive
by
Sunrise,
Crossing
and
I.
Think
you'll
be
impressed
with
the
amount
of
it's
being
done
up
there
in
such
a
quick
time.
B
But
we
also
received
approval
from
the
state
for
the
easements
that
we
needed
for
the
lift
station
and
now
that
project
is
that
part
of
that
project
is
out
the
bid.
Finally,
I
want
to
mention
the
Water
Project.
B
We
are
finalizing
all
of
our
Design
Elements
to
that,
while
Redevelopment
commission
isn't
directly
involved
in
the
Water
Project,
it
certainly
will
be
packing
everything
that
we
do,
because
it's
the
first
major
capital
investment
in
our
water
infrastructure
in
20
years,
going
out
to
bid
in
October
we'll
be
closing
on
the
financing
with
the
Indiana
Finance
Authority
by
early
December,
and
that's
a
13
million
project.
B
If
that
isn't
enough
stuff
to
talk
about,
there's,
always
a
grocery
store
out
there
that
we
work
on
every
single
day
and
when
we
get
out
of
this
car,
we
have
a
meeting.
And
then
we
have
another
call
with
our
our
potential
grocery
store
operator
that
we've
had
very
productive
conversations
with
for
about
six
months.
A
And
I
would
also
say
that
the
bids
will
have
bids
out
for
the
Michigan
Road
improvements
associated
with
Sunrise
Crossing
District
too.
So
the
traffic
light
and
those
things
those
numbers
are
out
as
well.
So
there's
a
lot
going
on
here,
we're
very
happy
to
get
those
numbers
back
and
get
people
started.
B
I'll
pause:
there
answer
any
questions
about
the
variety
of
projects
and
and
David
and
Doc
Brown.
You
could
look
at
our
financial
overview
and,
as
you
go
through,
that
there'll
be
a
name
and
a
dollar
amount
attached
with
various
different
initiatives
that
we
have
and
you'll
see
what
critical
role
the
Redevelopment
commission
has
been
playing
in
everything
we're
doing
across
the
city:
that's
really
making
advancements
on
infrastructure,
housing,
retail
quality
of
life
quality,
a
nice
quality
of
life
initiatives
and
economic
development.
It's
pretty
fantastic.
A
And
I
would
say
to
the
two
new
members:
we
do
a
quarterly
update.
First,
one
was
done
in
August,
we'll
make
sure
you
have
that
report.
It
sort
of
outlines
the
projects,
the
rdc's
involved,
with
in
funding
it's
sort
of
an
update.
Again,
some
of
these
projects
are
moving
pretty
quickly,
so
the
data
might
change
between
one
quarter
and
another,
but
the
basic
overall
project
scope
size
scale.
What
the
project
hopes
to
accomplish
is
all
the
same,
but
we'll
give
you
those
strategic
updates
again
here
towards
the
end
of
the.
B
I
did
have
one
other
thing
that
I
want
to
mention
too.
Yesterday
at
Board
of
Public
Works,
we
approved
the
third
quarters
allocation
of
pace
grants
which,
between
the
city
and
the
Redevelopment
commission,
we
have
made
a
major
effort
in
preservation
across
the
entire
city,
not
just
downtown
downtown
in
the
historic
district,
but
also
targeted
revitalization
areas,
but
also
the
hilltop
too.
B
Yesterday
we
approved
144
thousand
dollars
in
third
quarter
grants
for
about
a
dozen
projects
that
is
going
to
leverage
that
investment
up
with
an
additional,
approximately
seven
hundred
thousand
dollars
in
new
private
investment.
And
so
one
way
to
look
at
this
is
that
the
144
that
we
approved
at
Board
of
Public
Works
yesterday
is
creating
a.
D
B
000
of
new
investment,
and
in
this
particular
round
they
were
all
downtown
properties
being
preserved,
four
of
which
were
in
our
targeted
Revival
organization
area
and
four
were
designated
as
dilapidated
structures.
This
program
is
making
a
what
I
would
consider
a
no
pun,
intended
historic
difference
in
our
preservation.
Efforts
across
the
community.
B
A
C
G
Barns
in
the
district
and
I
know,
rate
increases
are
expected
around
November
1st,
so
we've
kind
of
tried
to
back
things
up
and
do
some
quick
bonds
to
get
them
out
before
the
rate
increases.
So
I
appreciate
your
initiative
to
get
this
done
quickly
so
that
you
can
stay
on
the
the
better
end
of
those
rates
most
likely.