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From YouTube: City of Madison Redevelopment Commission - April 4, 2023
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A
B
Let's
start
the
meeting
call
to
order
first
order
of
business
on
the
agendas
the
approval
of
the
minutes
from
the
March
7th
meeting.
So
everybody
had
a
chance
to
review
those
any
questions
or
comments.
If
none
can
I
get
a
motion
to
approve.
B
Second,
second,
all
in
favor
aye,
so
moved
next
order
of
business
is
claims
circulating
before
the
board
packet
of
claims,
totaling,
275
thousand
dollars,
200
275,
255,
000.75
I.
Think
everybody's
had
a
chance
to
review
those
several
claims
for
Professional
Services
and
the
biggest
one
is
for
the
riverfront
Development
Committee
designing
construction
for
the
super
Overlook.
A
B
A
At
this
time,
I
don't
have
any
old
business
unless
you
have
any
I
will
give
you
an
update
on
the
the
last
resolution
that
was
passed
about
the
downtown
reallocation
area.
We
also
had
a
conversation
about
the
decoma
process
and
how
to
look
at
project
Parcels
throughout
the
North
Madison
allocation
area
and
their
value.
Reedy
has
been
reviewing
that
and
does
believe
that
going
through
that
process
makes
Financial
sense
for
the
commission.
A
It
would
increase
our
Revenue
by
doing
that,
so
we'll
be
doing
that
over
the
next
month,
be
looking
for
some
information
on
that
at
the
May
meeting,
and
because
both
of
those
processes,
the
new
allocation
area
and
the
document
process
requires
plan.
Commission
approval
and
city
council
approval.
A
The
mayor
and
I
decided
to
take
all
of
that
in
the
month
of
June
to
those
two
commissions
versus
splitting
it
up,
so
that
our
business
can
be
done
at
once.
So
that's
an
update
on
on
that.
Okay,.
A
Yeah
you
will
see
the
financial
report
is
in
there
as
well
from
ready,
Financial,
nothing
out
of
the
ordinary,
so
they
are
not
here
today.
I
did
provide
the
commission
with
a
quarterly
report.
As
you
will
note,
there's
been
continue
to
be
several
things.
We're
doing
and
working
on
do
be
prepared
for
a
ribbon
cutting
April
20th
that
date's
been
set
for
Habitat
for
Humanity
and
I.
A
Believe
that's
going
to
be
at
5
30
up
there
on
site,
so
you'll
be
prepared
to
participate
in
that
since
you're
funding
that
project,
the
more
information
will
be
coming
becoming
on
that
all
of
the
other
projects
are
moving
along
fairly
fairly
well
in
the
process.
We
are
waiting
for
the
final
agreement
with
Culver's
in
their
real
estate
sign
up
before
we
execute
the
agreement
on
the
construction
of
Frank's
drive,
but
those
those
bids
are
good
until
the
next
meetings.
A
Yeah
so
based
upon
the
current
projections
and
the
project
prioritizations,
depending
on
the
timing
of
all
that,
we
do
show
potentially
again
leveraging
the
North
Madison
allocation
area
about
the
time
frame
that
we
have
about
that
10-year
Mark
in
2024,
for
a
three
million
dollar
infusion
in
capital
to
leverage
towards
other
projects.
We
would
anticipate
some
of
that
dollars
going
for
current
priorities,
but
also
some
dollars
going
for
potential
ready,
2.0
dollars
again
with
the
2035
time
frame
issuing
bonds,
anything
less
than
10
years
isn't
feasible.
A
So
the
2024
time
frame
is
is
that
time
frame
that
we've
programmed
in
there
Dan
under
Bond
proceeds
in
projection
2024,
which
is
why
you'll
see
some
of
those
dollar
amounts
up
in
terms
of
other
quality
of
life,
initiatives
that
we
have
identified,
the
only
one
that
will
probably
be
a
large
expenditure
left
this
year
would
be
any
any
items
associated
with
the
Downtown,
Grocery
or
Pharmacy
that
we
would
come
back
to
the
commission
for
as
a
part
of
incentives
unless
I'm
missing
anything
there
mayor
in
terms
of
large
Capital
allies.
C
Yeah
I
think
it's
an
excellent
question,
because
when
we
we
we're
talking
about
this
all
the
time
in
staff
meetings,
when
we
have
large
projects
that
have
an
extended
period
of
time
for
development,
we're
spending
a
lot
of
resources
for
design
and
engineering
and
right
away
acquisition,
for
example,
with
the
project
itself,
maybe
three
or
four
years
out
and
the
and
you
know,
as
you
can
imagine
now,
which
we
probably
weren't
talking
much
about
two
or
three
years
ago,
there's
a
substantial
amount
of
price
risk,
that's
involved
in
the
and
we're
seeing
that
you
know
play
out
in
just
about
everything
that
we
take
out
to
bid.
C
Fortunately,
we've
been
able
to
absorb
everything,
but
the
big
project
that's
still
out
there
that
that
hasn't
been
bid
out.
Yet
that
still
exposes
a
surprise
risk
is
the
click
to
drive
improvements,
the
sidewalks
and
the
other
ones.
You
know
are
more
subjective
because
we're
going
to
have
opportunities
come
up
and
then
we're
going
to
be
able
to
say
yeah.
We
can
do
it,
not
opportunities
that
have
a
nearer
or
a
shorter
term
benefit
for
us,
but
Clifty
Drive
is
one
that
is
we've
been
working
on
for
years.
C
That
now
has
been
pushed
out
to
2024
as
part
of
a
partnership
with
n
dot.
Indot
really
is
doing
the
bidding
and
the
the
business
income
back
in
an
acceptable,
Manner
and
so
they're
gonna
they're
gonna,
essentially
press
the
pause
button
and
come
back
and
bid
those
later
so
that's
potential
to
have
to
redirect
Monies
to
cover
the
price
risk
that
we
that
we
would
absorb.
If
we
want
to
continue
doing
the
project,
I
think
we
do,
but
just
like
everything
else,
we've
seen
well,
prices
are
up
for
you
or
50
percent.
That's.
A
A
Yeah,
that
would
be
the
only
project.
The
RDC
dollar
amounts
that
are
in
here
are.
The
dollar
amounts
that
you
initially
contributed
towards
that
project.
There's
other
other
dollars
at
play
as
well.
So
again
as
we
start
to
get
those
prices
and
understand
indicts
in
that
situation
around
those
prices,
we'll
we'll
know
more.
If
if
we
need
to
participate
where
those
funding
sources
come
from,
but
indot
did
move
that
leading
out
to
October
of
2023
and
we'll
we'll
that'll
move
construction
to
2024.
B
C
That
would
come
through
for
the
State
dollars
that
would
be
contributed
toward
a
project
potentially,
but
they
are
committing
tremendous
amounts
of
that
investment
all
across
the
state.
A
lot
of
that's
going
to
go
to
interstates
improvements,
Bridges
a
lot
of
State
highways,
most
mostly
the
infrastructure
money
is
going
to
go
to
state
state
highway
projects.
A
And
even
if
there
was
additional
dollars
locally
there's
you
know
again
a
typically
a
20
match
on
those
dollars.
So,
as
we've
talked
before
main
Street's,
a
long-term
project
that
we're
continuing
to
apply
for
phase
by
phase
and
getting
you
know,
federal
dollars
and
State
dollars
as
a
part
of
that
and.
C
You
know
what
I
would
say
to
John
is
in
commission.
C
A
lot
of
what
we
do
is
is
very
Project,
Specific
and
shorter
in
term.
So
we've,
even
though
we've
talked
a
lot
about
grocery
store,
for
example,
and
we
took
the
you
know
defensive
measure
of
acquiring
the
property
that
also
gives
us
some
currency
to
work
with.
With
regard
to
an
incentive
for
an
operator,
the
dollar
amounts
are
going
to
be
less
significant
in
the
majority
of
the
quality
of
life
type
Investments
that
we're
making
than
and
but
so
I.
C
Don't
think
our
our
risk
is
substantial,
because
we
can
also,
we
also
have
the
capability
of
pushing
things
out
or
canceling
a
project
altogether.
If
we
needed
to.
We
think
we
have
a
really
good
chart
of
priorities
here
that
are
very
affordable,
but
the
road
infrastructure
projects
are
going
to
be
the
the
big.
C
The
big
risk
items
and
we'll
just
have
to
you
know,
do
a
couple
of
things,
and
that
is
continue
to
prioritize
and
what
Tony
had
mentioned
before,
which
we've
talked
about
is
we've
got
to
extract
the
value
out
of
the
North
Madison
allocation
area
and
we're
going
to
get
to
the
Tipping
Point
in
2024,
where
it's
a
it's
a
go
or
no-go
decision
for
us.
The
commission
had
several
millions
of
dollars
of
liquidity
years
ago.
C
That
you
know
was
was
then
taken
to
pay
down
debt
long-term
debt
strategically
I
would
have
done
something
different
and
not
not
done
that,
but
we're
going
to
have
to
replenish
that
liquidity
with
those
dollars
for
the
North
Madison
allocation
area,
and
but
that's
just
part
of
planning,
your
your
Tiff
planning
for
your
TIF
district
appropriately.
A
And
I
think
in
2024
we're
looking
at
you
know,
housing
being
a
continued
to
be
a
discussion
Point
within
the
community,
broadly
I'm
sure
each
of
you
and
your
businesses
face
that
daily.
We
faced
that
recently
here
in
the
city
with
with
Emily
coming
in
the
community,
trying
to
find
a
place
to
live.
I
just
spoke
at
the
Jefferson
County
leadership,
their
their
group
meeting
last
week.
Housing
was
a
top
priority
for
every
organization
that
was
in
there
from
Hanover
College
to
the
high
school
to
Ivy
Tech.
A
So
we
certainly
know
housing
continues
to
be
in
tight
Supply
here.
The
good
news
is
the
state's
working
on
that
at
a
state
level
to
try
to
help
help
communities
of
our
size,
tackle
that
in
in
some
creative
ways.
So
hopefully,
when
the
legislature
is
done
here,
mid-summer
or
late
spring
and
by
mid-summer
we'll
be
able
to
tackle
some
unique
strategies.
We've
been
working
on
that
had
conversations
with
developers
had
some
interest
in
some
unique
things
in
the
community.
C
C
Regions
will
probably
stay
the
same.
They
are
encouraging
communities
to
do
plans.
We
did
a
plan
to
begin
with,
so
we've
got
a
list
of
projects
that
we
had
already
identified
that
were
beyond
the
conceptual
stage
will
continue
to
work.
Ready.
2.0
is
going
to
help
facilitate
that
and
whether
it's
a
tremendous
amount
of
investment
happening
across
our
community
that
will
be
factored
in
to
help
us
get
these
ready,
Grant
dollars
from
the
Rd.
C
As
you
know,
Jefferson
County
received
almost
10
million
dollars
between
my
part,
the
city
of
Madison
and
for
probably
half
a
dozen
or
more
really
solid
quality
of
life
and
invisible
at
so
by
the
end
of
this
month.
We'll
know
exactly
where
that's
landing
and
but
the
timetable
that
iedc
has
announced
is
they
want
to
essentially
have
start
receiving
applications
from
the
regions
the
summer
and
make
the
awards
in
the
fourth
quarter,
for
the
500
million
dollars,
we're
not
sure.
C
Yet
what
they'll
do
with
regard
to
the
cap
on
the
awards,
our
region
received
50
million
dollars
continue
to
be
that
limit.
We
could
have
used
85
to
100
million
dollars
in
our
region
and
spent
it
very
wisely.
So
a
lot
lots
of
still
learn
there,
but
there's
going
to
continue
to
be
opportunity
for
us
to
fund
our
key
priorities
through
that
program,
because
they'll
have
a
regional
impact.
C
Our
Focus
for
the
next
several
years
is
really
going
to
be
Housing
Development.
That
is
the
one
thing
that's
holding
our
it's
been
over
25
years
since
there's
been
any
meaningful
investment
in
housing
in
our
community,
and
we
are
positioned
for
growth
Sands.
The
housing
we'll
be
working
with
winterwood
for
the
housing
development
at
Sunrise
Crossing.
So
that's
going
to
be
priority.
Number
one
and
then
the
rest
of
that
is
is
looking
across
the
city
of
Madison
and
Jefferson
County,
on
where
we
can
partner
to
there's
new
legislation.
C
C
We
didn't
draw
all
the
money
out
of
2022,
so
we'll
draw
the
balance
of
2022's
commitment
and
then
the
first
half
of
2023's
commitment,
because
our
PACE
program
has
been
extremely
successful
and
just
over
the
last
three
years,
it's
it's
cultivated
around
eight
million
dollars
of
neighborhood
revitalization
in
our
community
and
a
lot
of
really
seriously
dilapidated
structures
are
now
getting
new
life
and
being
preserved
and
providing
meaningful
investment
for
for
our
community
Street.
The
corner,
the
property
at
the
corner
of
West
and
Second
Street
is
a
perfect
example
of
a
dilapidated
structure.
C
That's
been
in
bad
condition
for
a
couple
of
decades
that
is
now
seeing
a
multi-million
dollar
investment
for
housing
and
some
potential
restaurant
space
so
that
that
so
that
will
bring
that
up
to
the
next
one.
We
will
also
in
probably
late
May
early
June,
receive
our
first
straw
for
the
year,
so
that
will
help
replenish
our
funds
and
the
whole
exercise.
We're
going
through
with
regards
to
the
the
decrement
process
is
to
help
us.
You
know
plan
for
the
future.
C
The
decrement
process,
but
also
the
creation
of
the
riverfront
allocation
area,
is
about
having
a
long,
Horizon
and
preserving
a
capital
stream
that
helps
us
continue
with
our
development
priorities
in
Madison,
so
that
that
process,
as
you
mentioned,
we're
going
to
slow
down
a
little
bit
complete
a
decrement
process
come
back
in
June
share
with
you
all
the
the
results
of
what
values
that's
going
to
add
for
for
for
the
downtown
Riverfront
District,
so
we
can
reset
those
base
AVS
and,
in
the
future,
be
able
to
capitalize
on
the
strong
investment.