WEBVTT 00:00:00.226 --> 00:00:06.610 - to the Redevelopment Commission meeting of March 2nd, 2026. We'll start the meeting with a roll call, 00:00:06.610 --> 00:00:13.056 - please. C. Scandalluri, here. Randy Cassidy here. John West here. Laura Hibrati here. Deborah Meyerson 00:00:13.056 --> 00:00:19.440 - here. And we do not have any minutes from last week. This is fine. Just staff. Sorry, staff. I'm just 00:00:19.440 --> 00:00:25.762 - jumping ahead. I apologize. Staff present, please. Hannah Killian Hansen, present. Christina Finley, 00:00:25.762 --> 00:00:28.766 - hand department. Kami Caspula, hand department. 00:00:28.994 --> 00:00:36.174 - Jeff McKim, City Controller. Jane Coopersmith, Economic and Sustainable Development. OK, thank you all. 00:00:36.174 --> 00:00:43.148 - And I know Margie Rice just stopped us on. OK, she's here. We will announce your initial attendance. 00:00:43.148 --> 00:00:50.121 - Oh, and we do have Dana Kerr online. OK, great. Anybody else online? OK, thank you so much. So we do 00:00:50.121 --> 00:00:57.854 - not have minutes from last week, but we will start with our reports from officers. We have a director's report. 00:00:58.754 --> 00:01:05.012 - Sure. So I did send you guys an email to try and see if we could get a quorum for a different meeting 00:01:05.012 --> 00:01:11.148 - date in March so that we could have our financial advisor present and go over our report that's due 00:01:11.148 --> 00:01:17.651 - April 1st. It has to be presented to you prior to that date. Unfortunately, I was not able to get quorum. 00:01:17.651 --> 00:01:23.971 - So right now, the only date that we have quorum for you guys to receive this information is March 16th 00:01:23.971 --> 00:01:24.830 - as scheduled. 00:01:24.962 --> 00:01:32.007 - Unfortunately, both Mr. Kerr and I will not be present for that meeting. So I think at this point, due 00:01:32.007 --> 00:01:38.983 - to the timing of April 1st, we really probably need to keep that on deck as planned. We'll try to get 00:01:38.983 --> 00:01:46.028 - you guys a copy of the report in advance, though. So if you have any questions before we leave, we can 00:01:46.028 --> 00:01:49.790 - try and get them answered. And Jeff, will you be here? 00:01:52.098 --> 00:01:59.015 - I'm just confirming who's the quorum on the 16th. Bear with me. I have to dig that back out. Just want 00:01:59.015 --> 00:02:05.462 - to make sure that I didn't misrepresent because I'm not here on the 16th. It must be Rami, Sue, 00:02:05.462 --> 00:02:12.177 - and Laurie. OK, that's fine. I just wanted to confirm as long as it was Sue. Laurie, what happened? 00:02:12.177 --> 00:02:19.228 - I'll be here in person. OK, perfect. Sorry, I'll be there in person. OK. Great. Thank you so much. Who's 00:02:19.228 --> 00:02:21.310 - presenting for us? Do we know? 00:02:22.274 --> 00:02:31.434 - Is it the little guy or the older guy? It'll be Mr. Cheney. OK, cool. But other than that, I'm happy 00:02:31.434 --> 00:02:40.593 - to answer any questions. Or if you guys need anything, please let me know. Thank you. A legal report 00:02:40.593 --> 00:02:48.574 - from either Mr. Kerr or Ms. Rice. We're just here to answer questions if you have them. 00:02:49.826 --> 00:02:58.194 - OK, thank you so much. Do we have a treasurer's report? No report. Thank you. Business development update? 00:02:58.194 --> 00:03:06.094 - No update this evening. OK. And amplify Bloomington. I don't see Mr. Kanuki here. I'll sneak up here 00:03:06.094 --> 00:03:13.915 - if that's OK. Thanks for doing this. You guys are part of our management agreement. We want to keep 00:03:13.915 --> 00:03:15.166 - you up to date. 00:03:17.154 --> 00:03:27.855 - I'm John Fernandez, the CEO of Amplify Bloomington. While we pull up, I don't have a long presentation, 00:03:27.855 --> 00:03:38.144 - but I did want to provide some updates on the progress we're making under our management agreement. 00:03:38.144 --> 00:03:45.758 - That's the end of it. It looks like it got messed up somehow. Oh, anyway. 00:03:46.114 --> 00:03:54.946 - As some of you know, we launched Amplify Bloomington about a week ago. Just for clarity, Amplify Bloomington 00:03:54.946 --> 00:04:03.373 - is a DBA. So all of our agreements between the Redevelopment Commission and DementiaMill Inc. are still 00:04:03.373 --> 00:04:11.719 - agreements between those two entities. We're just going to mark it as Amplify Bloomington. So it's not 00:04:11.719 --> 00:04:16.094 - going to change any of our contractual relationships. 00:04:16.898 --> 00:04:23.600 - Just go to the next slide. I'm not sure why we have that. So just three things I want to talk about 00:04:23.600 --> 00:04:30.771 - tonight is give you an update on the launch, update on the forge, and then the trades district development 00:04:30.771 --> 00:04:37.540 - writ large. So on the Amplified Bloomington, again, we've launched this new platform. If you want to 00:04:37.540 --> 00:04:40.958 - go to the next slide, that'd be great. What is it? 00:04:41.058 --> 00:04:48.577 - I got kind of screwed up here, but it's a civic platform that's bringing together all of the key assets 00:04:48.577 --> 00:04:56.386 - that we can leverage from an economic development perspective to help build a robust community and economy. 00:04:56.386 --> 00:05:03.833 - So it really unifies a lot of the activity from the university's research and talent pipeline with our 00:05:03.833 --> 00:05:10.846 - entrepreneurship community and all the cultural and kind of community building that we're doing. 00:05:11.010 --> 00:05:18.684 - came off to a big start here. If you want to just go to that slide. I don't know what happened here. 00:05:18.684 --> 00:05:26.434 - I don't either. It didn't look like that when I sent it. But we have three pillars that we're focused 00:05:26.434 --> 00:05:34.259 - on. Entrepreneurship growth, which is the core of what we do, supporting founders and scale-ups. We're 00:05:34.259 --> 00:05:39.198 - focused vertical on strategic business attraction and, you know, 00:05:39.522 --> 00:05:46.332 - trades district development itself. And then we have a pillar that's focused solely on the startup community. 00:05:46.332 --> 00:05:52.771 - I mean, that's what has always been the strength of the mill and the activities in the trades district. 00:05:52.771 --> 00:05:59.085 - And so I think it's important that we bring these things together in a way. The real important piece, 00:05:59.085 --> 00:06:05.586 - if you go to that next slide here, it might be easier to read. This kind of is how it all fits together. 00:06:05.586 --> 00:06:08.062 - So Amplify Bloomington is the umbrella. 00:06:08.898 --> 00:06:15.719 - That's our brand that we really lead with, whether we're marketing programs, places, or some of the 00:06:15.719 --> 00:06:22.744 - other civic involvement. The mill is the mill. It's still the mill. It's got a good brand. It's really 00:06:22.744 --> 00:06:29.975 - the startup community home, and it's the catalyst for much of what's happening more broadly in the trades 00:06:29.975 --> 00:06:36.318 - district and in the greater Bloomington community. The Forge is, as you all know, focused on 00:06:36.834 --> 00:06:43.475 - Companies that outgrow the mill or some of the businesses that we're attracting to the community. And 00:06:43.475 --> 00:06:49.986 - then the trades district, of course, is the innovation hub that has a lot of momentum and has a lot 00:06:49.986 --> 00:06:56.041 - of opportunity to be a really big market signal. That benefits not just the trades district, 00:06:56.041 --> 00:07:02.617 - but more broadly, the entire community, in some ways, our region. Go to the next slide here. Yeah, I 00:07:02.617 --> 00:07:06.654 - don't know what happened here. I should have just sent a PDF. 00:07:06.882 --> 00:07:15.855 - But we have three Keystone partners that are really core to some of the foundation that we've built. 00:07:15.855 --> 00:07:25.006 - The city of Bloomington, the Redevelopment Commission is certainly one of them. Indiana University and 00:07:25.006 --> 00:07:34.246 - the Cook Medical Group have all really put in significant capabilities into where we're going with this 00:07:34.246 --> 00:07:36.734 - organization. So the Forge. 00:07:37.570 --> 00:07:45.623 - You know, 86% occupancy. We have 1,800 square feet left that we're continuing to market. The most recent 00:07:45.623 --> 00:07:53.368 - lease that you all approved was Prometheus. Their schematic drawings should be done this week. Their 00:07:53.368 --> 00:08:01.191 - plan is assuming they get their building permit, which hasn't been a problem. I don't mean that as a, 00:08:01.191 --> 00:08:07.326 - that's not an editorial thing. It's just a process thing. They intend to start. 00:08:07.426 --> 00:08:16.511 - their build out at the end of March. We've really got a very stable financial position right now with 00:08:16.511 --> 00:08:25.774 - the Forge. It's doing really well. In fact, it's doing so well that we're paying back the redevelopment 00:08:25.774 --> 00:08:35.838 - commissions and the city's $100,000 operating fund reserve that you all approved as part of our trades district. 00:08:35.970 --> 00:08:45.162 - management agreement amendment. If it didn't happen today, it's happening this week. As you recall, 00:08:45.162 --> 00:08:54.355 - when we updated the partnership agreement, the forge was just about finished with construction, and 00:08:54.355 --> 00:09:03.731 - we were still waiting to lease it up. And the city was gracious enough to say, well, forward $100,000 00:09:03.731 --> 00:09:04.926 - reserve fund 00:09:05.058 --> 00:09:14.660 - that we could use for any operating expenses until we started getting the leases in place and collecting 00:09:14.660 --> 00:09:24.627 - rent. We spent out of 100,000, roughly 54,000, a little bit less than that, on some of those early operating 00:09:24.627 --> 00:09:34.046 - expenses prior to having revenue. The biggest chunk of that was around 20,000 to repair the vandalism. 00:09:34.274 --> 00:09:42.644 - the windows that were broken. But because we've had such a high occupancy rate very quickly, we have 00:09:42.644 --> 00:09:50.931 - the revenue now to pay the city back. Under your agreement, we could wait three years, but we don't 00:09:50.931 --> 00:09:59.799 - want to. We're going to do it now as a measure of good faith and I hope demonstrating sort of the momentum 00:09:59.799 --> 00:10:02.782 - and confidence we have in the plan. 00:10:03.618 --> 00:10:12.199 - We're going to continue to hold in reserve cash for any other unexpected community building events that 00:10:12.199 --> 00:10:20.533 - could happen and be really prudent. But we wanted to get that city's money back to you as soon as we 00:10:20.533 --> 00:10:29.196 - can. So that'll probably be this week. Yeah, so let's go to the next slide. It's for the trades district 00:10:29.196 --> 00:10:32.414 - itself. We started construction today. 00:10:32.706 --> 00:10:42.534 - in earnest on the remodeling of the mill that you all approved. We have, as part of this, the IU's Lulee 00:10:42.534 --> 00:10:52.736 - Endowment Grant. We have funding to expand the capacity of the mill because of the growth we were achieving. 00:10:52.736 --> 00:11:01.534 - So that work started today. It's going to add about 36 or so workstations. It's going to add. 00:11:01.666 --> 00:11:10.491 - three additional private suite offices in the 200, 250 square foot sizes where there's a high demand 00:11:10.491 --> 00:11:19.315 - for. And it's going to enable us to make some significant improvements to the large meeting space at 00:11:19.315 --> 00:11:28.489 - the lower level. That work should be completed by the end of June. So we're already marketing the suites 00:11:28.489 --> 00:11:31.198 - and marketing the event space. 00:11:31.426 --> 00:11:40.278 - to get moving on that. Just a little commercial. Today, SOMA opened at the kiln. They're part of our 00:11:40.278 --> 00:11:49.219 - community. There was a steady stream of people from our building to welcome them to the neighborhood. 00:11:49.219 --> 00:11:58.159 - So that's cool. Parcel One actively working on a owner-acquired project for that. But Nikon Wood will 00:11:58.159 --> 00:12:00.350 - be in a position to seek 00:12:00.642 --> 00:12:08.570 - our board's approval in the end of March, maybe the first week of June. Pretty excited about that. 00:12:08.570 --> 00:12:16.979 - The hotel, probably should do this in reverse order. But we're working with Dana and Nana on the closing 00:12:16.979 --> 00:12:25.068 - for the land. Under the sale agreement, we need to close by the end of this month. So we're pregnant 00:12:25.068 --> 00:12:27.230 - at the last week of March. 00:12:27.426 --> 00:12:35.259 - when the developers can be in town for some other activity. Related to that, they are very close to 00:12:35.259 --> 00:12:43.405 - finishing their schematic design so that they can start getting some solid bids on the cost and nailing 00:12:43.405 --> 00:12:51.551 - that down. And then they're really hoping to break ground early spring or early summer. I think they're 00:12:51.551 --> 00:12:53.822 - very anxious to get started. 00:12:54.370 --> 00:13:01.317 - One bit of news, if you want to go to the next couple of slides to give you an idea of what it looks 00:13:01.317 --> 00:13:08.608 - like. This is kind of the revised schematics as it continues to evolve. You got all the planning approval 00:13:08.608 --> 00:13:16.036 - done. The site plan was approved January 12th. Despite all the other stuff we hear, the city, the utilities 00:13:16.036 --> 00:13:21.470 - department, planning department did an exceptional job of moving this forward. 00:13:21.986 --> 00:13:32.162 - There was a lot of collaboration on the design and setup so that we didn't have a protracted long process. 00:13:32.162 --> 00:13:42.053 - So we're really grateful for that collaboration. The one big change, not a big change, but we went from 00:13:42.053 --> 00:13:49.662 - 150 rooms to a design that's going to incorporate 171 rooms. The demands there. 00:13:50.178 --> 00:13:57.469 - and the footprint enables that. So if you go on that slide, that's the corner view. This gives you a 00:13:57.469 --> 00:14:04.904 - view if you're looking from kind of a northwest looking at the site. And then the next slide shows you 00:14:04.904 --> 00:14:12.267 - what this northern northwest piece looks like where it'll have some retail as well as rooms above it. 00:14:12.267 --> 00:14:16.382 - But we're really happy with the design ratio architects. 00:14:16.706 --> 00:14:24.143 - has been great to work with, with the developer, and it's come along really nicely. And that's all I 00:14:24.143 --> 00:14:31.506 - got. But I'm happy to answer any questions that you have about anything under the sun as it relates 00:14:31.506 --> 00:14:39.164 - to the trades district. And again, just super grateful for the redevelopment commissions for what we're 00:14:39.164 --> 00:14:44.318 - doing. What is the target open date for the hotel? End of 2027. Yeah. 00:14:45.474 --> 00:14:54.872 - They'd like to be open sooner, but it takes a while to get these things built. They're looking at those 00:14:54.872 --> 00:15:03.999 - sold out football games going, damn. I'm struggling with AmphiFly only as an entity. Is it an actual 00:15:03.999 --> 00:15:13.035 - operating business? I mean, are there employees? Yeah. So Dimension Mill Inc. is the nonprofit that 00:15:13.035 --> 00:15:15.294 - was established in 2018. 00:15:15.874 --> 00:15:23.260 - when the mill was redeveloped. We are the DBA of Amplified Dimension Milling. So everybody that works 00:15:23.260 --> 00:15:30.573 - with me, we work for Amplified Bloomington. Oh, okay. Okay. Yeah. Yeah. All right. That makes sense. 00:15:30.573 --> 00:15:37.887 - At first, I thought it was a branding exercise. No, it's way more than that. I think, and that's the 00:15:37.887 --> 00:15:44.766 - real important thing is that, you know, over the last half of 2025, we had some working groups 00:15:45.122 --> 00:15:54.128 - looking at a couple of areas. One of them was around the brand, but a lot of it was around the governance. 00:15:54.128 --> 00:16:02.798 - And so historically, the executive committee of our board was about five or six people. It wasn't even 00:16:02.798 --> 00:16:10.878 - that. It was about five people. And they were original supporters of the mill, mostly startups. 00:16:11.714 --> 00:16:20.204 - And we felt like to do what we really want to get done as a community, we wanted the executive committee 00:16:20.204 --> 00:16:28.289 - to have representation of our key stakeholders and institutions at a kind of C-suite level. Because 00:16:28.289 --> 00:16:36.536 - the challenges we have are real. And our organization by itself can't fix them. And so the two things 00:16:36.536 --> 00:16:41.630 - we've really been that's been on our radar is population loss. 00:16:42.626 --> 00:16:50.112 - which we have lost population for two years in a row. And that's a massive red flag, especially if you 00:16:50.112 --> 00:16:57.380 - look at where that loss is coming from. There's a just dramatic drop off in population in the 20 to 00:16:57.380 --> 00:17:04.939 - 50 year old demographic. I mean, it is like radically declining. That's a real problem. The other issue 00:17:04.939 --> 00:17:07.774 - is just our wages are stagnant. And so 00:17:08.642 --> 00:17:14.840 - You know, for us to act as a civic alliance, and that's how we positioned Amplify Bloomington, we need 00:17:14.840 --> 00:17:20.858 - everybody at the table kind of locking arms on what are we going to do. Some of the stuff we'll own 00:17:20.858 --> 00:17:26.876 - as an organization and drive, but a lot of it we have to collectively deal with. But our North Star 00:17:26.876 --> 00:17:32.894 - is our increased population in that critical demographic. Get our wages up and elevate the brand of 00:17:32.894 --> 00:17:34.398 - Bloomington so that it's 00:17:34.626 --> 00:17:42.713 - properly viewed across the country as a place where innovation and startups and people can build, 00:17:42.713 --> 00:17:50.306 - you know, meaningful things here, whether it's companies, careers, families. So who are the 00:17:50.306 --> 00:17:59.053 - major placeholders that work with you? Our executive committee includes the city, university, cook group, 00:17:59.053 --> 00:18:03.262 - Chamber of Commerce, BDC, and then other corporate 00:18:06.242 --> 00:18:14.438 - Has the government structure changed then between doing the DBA as amplified Bloomington compared to 00:18:14.438 --> 00:18:22.877 - Dimension Mill? Just in terms of the internal, the executive committee has changed. We made some modest 00:18:22.877 --> 00:18:30.991 - changes where like terms of officers were extended so we weren't having turnover every year. And we 00:18:30.991 --> 00:18:33.182 - added a couple of advisory 00:18:33.538 --> 00:18:41.351 - standing committees around entrepreneurship, community, around business attraction, and around government 00:18:41.351 --> 00:18:49.163 - relations. But you don't have to be a board member to be on those committees. That was just an engagement 00:18:49.163 --> 00:18:56.607 - strategy. Thank you very much for your presentation. Appreciate it. Thank you. Good work. All right. 00:18:56.607 --> 00:19:02.430 - What time does Summo open? Pardon me? What time does Summo open? I don't know. 00:19:02.562 --> 00:19:09.009 - I know they were open early. Okay. Appreciate that. Thank you, John. Thank you. Thank you all. Sorry 00:19:09.009 --> 00:19:15.519 - about that. No problem. I should have just sent a PDF. That's on me. Will those slides be on the next 00:19:15.519 --> 00:19:21.966 - minutes of this meeting? Yeah. Okay. Thank you. And we'll get them corrected. The PDF version? Yeah. 00:19:21.966 --> 00:19:27.902 - Thank you. Okay. We're on to new business. The first item on our agenda is resolution 26-17. 00:19:28.066 --> 00:19:35.272 - which is declaring and designating and declaring a certain area as an economic development area, the 00:19:35.272 --> 00:19:43.048 - summit district EDA and approving an economic development plan for the said area, establishing a residential 00:19:43.048 --> 00:19:50.254 - housing program in the said area and regarding related matters. Who would like to speak to that? Mr. 00:19:50.254 --> 00:19:57.246 - Dana Kerr, city legal will be speaking to that. Yes, I would like to kind of start with something 00:19:58.370 --> 00:20:07.714 - for all of you, but it's how a TIF works. Because what we're talking about tonight is a residential 00:20:07.714 --> 00:20:17.151 - TIF, which is different from a commercial TIF. But as far as how they work and operate, they're very 00:20:17.151 --> 00:20:27.710 - much the same. So what you do when you create a TIF is you establish the base assessed value, and that continues 00:20:27.874 --> 00:20:37.563 - go to all the other underlying taxing units in the area. But as economic development, residential development 00:20:37.563 --> 00:20:46.460 - occurs, then that increase, I believe that the gray area, I'm calling it blind, but that increase is 00:20:46.460 --> 00:20:55.709 - captured and goes to the RBC that can pay for a variety of project costs. The project costs can be costs 00:20:55.709 --> 00:20:57.118 - within the EDA, 00:20:57.250 --> 00:21:06.205 - in the allocation area or in areas that support those that you would need to, which we'll talk about 00:21:06.205 --> 00:21:15.160 - in the third resolution, that you need to construct to be able to make the development work for some 00:21:15.160 --> 00:21:24.115 - reasons. And beginning of the TIF, for commercial TIFs, it is 25 years from the first time you incur 00:21:24.115 --> 00:21:25.534 - a debt payment. 00:21:27.906 --> 00:21:38.859 - For a residential TIF, it is 10 years. The big difference is that in a commercial TIF, you cannot capture 00:21:38.859 --> 00:21:49.501 - the increment for residential properties. But it can, again, last up to 25 years from during the first 00:21:49.501 --> 00:21:56.734 - step. For a residential TIF, you can not only capture the residential 00:21:57.154 --> 00:22:07.573 - But you can also capture the commercial properties as well. But the maximum amount is 20 years from 00:22:07.573 --> 00:22:18.409 - your approach to project. So whether you choose a residential TIF or a commercial TIF basically depends 00:22:18.409 --> 00:22:25.182 - on how the EDA area or allocation area is going to be developed. 00:22:25.538 --> 00:22:36.311 - we're talking about today, Schatz to Meadows, is part of the assignment development. And that is primarily 00:22:36.311 --> 00:22:46.681 - residential. So it makes the most sense to make that as a residential allocation area. And so the, for 00:22:46.681 --> 00:22:55.038 - you tonight is a declaratory resolution, in that slide, that is going to encompass 00:22:55.298 --> 00:23:06.596 - all of the summit district PUD as an economic development area. So it establishes that there's parts 00:23:06.596 --> 00:23:17.893 - of the economic development area that live in part of consolidated EDA and it will be converted into 00:23:17.893 --> 00:23:23.710 - the summit PUD district PUD EDA. And to start with, 00:23:24.130 --> 00:23:31.723 - is, again, Shasta Meadow on the left, number one, that is the first area to be developed. It doesn't 00:23:31.723 --> 00:23:39.240 - really benefit to create all the different allocation areas within the economic development area at 00:23:39.240 --> 00:23:47.059 - one time because we're not sure of the time. We don't know when the developments want to start in those 00:23:47.059 --> 00:23:51.870 - different areas. We don't know if there are going to be shifts. 00:23:53.634 --> 00:24:03.834 - commercial or residential. So just by creating one allocation area for now, we're going to be able to 00:24:03.834 --> 00:24:14.134 - capture the income for Shasta Meadow, which again is the first development. But we will be coming back 00:24:14.134 --> 00:24:23.134 - over time in capturing other allocation areas, and we'll do that just before development. 00:24:24.034 --> 00:24:34.472 - And so the EDA is the overall TIF area. And an allocation area is an area within the EDA that says, 00:24:34.472 --> 00:24:45.431 - this is the area that we're, right now, going to establish as an allocation area and set the base value, 00:24:45.431 --> 00:24:53.886 - assess values, so that any incremental development at that point can be captured 00:24:54.242 --> 00:25:04.263 - and used to support the EDA. Now those funds can be used, we'll see later, for the design of infrastructure, 00:25:04.263 --> 00:25:13.733 - for the construction of infrastructure. It doesn't mean that the infrastructure has to be actually all 00:25:13.733 --> 00:25:23.294 - in that allocation area, but it has to be tied to the allocation area in a manner that shows that it is 00:25:23.874 --> 00:25:33.530 - supporting that development. And especially it gets more important when you can say, hey, without this, 00:25:33.530 --> 00:25:43.094 - let's say this infrastructure development, then Shasta Meadow couldn't develop because there's not the 00:25:43.094 --> 00:25:52.286 - infrastructure there for it. So tying it to existing infrastructure is very important. And so what 00:25:52.514 --> 00:26:04.101 - we're hoping to do is capture that criminal assessment as it shows and then determine ways that are 00:26:04.101 --> 00:26:16.152 - best to use that funds to support the overall EDA and those areas that support the EDA as well. So this 00:26:16.152 --> 00:26:21.598 - is a way that the RDC can generate some income 00:26:22.242 --> 00:26:32.352 - that can be used, potentially will be used within the development of the, and for the red road at Sudbury 00:26:32.352 --> 00:26:42.461 - and the green blue road at Adams. Those roads are very much necessary to connect this overall development 00:26:42.461 --> 00:26:52.094 - to the rest of Bloomington and provide some infrastructure that will support Bloomington as a whole, 00:26:52.386 --> 00:27:01.532 - Avenue Street, connecting it will now give another direct line from Bloomfield Road all the way to Hap 00:27:01.532 --> 00:27:10.679 - Road. So this really helps connectivity. It'll help connectivity for traffic flow to and from the APA. 00:27:10.679 --> 00:27:20.092 - So there's a variety of things that the funds can be used for. That is one that is often used, but you're 00:27:20.092 --> 00:27:21.246 - not going to 00:27:22.082 --> 00:27:32.009 - And you all understand this from the consolidated TIF that you have and what projects can be, the TIF 00:27:32.009 --> 00:27:41.741 - funds can be used within the consolidated TIF. And so technically these funds could be used outside 00:27:41.741 --> 00:27:50.014 - of the EVA Summit District as long as it supports the district economic development. 00:27:51.618 --> 00:28:01.040 - So what you have for you tonight is a statement saying, hey, we believe this is important. We believe 00:28:01.040 --> 00:28:10.462 - that establishing this EDA is necessary to help drive development of the Summit District area. We all 00:28:10.462 --> 00:28:19.422 - know that Bloomington is landlocked. And so we must take great care in dealing with the projects 00:28:19.874 --> 00:28:29.570 - for the land that we do have within city limits, which includes all of this area here. And so by providing 00:28:29.570 --> 00:28:38.632 - the TIF and generating revenue, that revenue can be used to help spur this development in ways that 00:28:38.632 --> 00:28:48.510 - it wouldn't happen without it. And again, the wonderful thing is the interconnectivity of the infrastructure 00:28:48.834 --> 00:28:59.587 - is going to be a huge benefit for all of the, for the southwest quadrant of Winnington. So again, tonight, 00:28:59.587 --> 00:29:10.340 - what you are saying is, hey, we believe this is very important that we, the findings are in the resolution 00:29:10.340 --> 00:29:18.078 - and in the plan attached thereto, that this is important for the development 00:29:18.530 --> 00:29:28.567 - in the best interests of the welfare of the community. You are not displacing anybody within the summit 00:29:28.567 --> 00:29:38.604 - district. These are all underdeveloped properties. You're not purchasing any land. We'll see later when 00:29:38.604 --> 00:29:48.062 - the land is donated to the city for infrastructure and the fire station. We'll get to that later. 00:29:50.434 --> 00:30:01.220 - And then you're saying for Shasta Meadow, we would like to start the first allocation area there. And 00:30:01.220 --> 00:30:12.218 - we want this to be a residential allocation area. Again, if there's commercial, if there's residential, 00:30:12.218 --> 00:30:17.822 - that do not necessarily, it's not necessarily, okay. 00:30:18.178 --> 00:30:26.379 - All the findings are presented with you. We just are really asking for your support. We ask that you 00:30:26.379 --> 00:30:34.661 - declare this declaratory resolution that you passed this. Next steps would be that it would go to the 00:30:34.661 --> 00:30:43.187 - Planning Commission for their review. It would also go to the Common Council for their review. And then, 00:30:43.187 --> 00:30:47.166 - hopefully, on April 16th or sometime thereafter, 00:30:47.330 --> 00:30:55.094 - It will come back to the RBC. And at that time, you will pass a resolution that says that you are confirming 00:30:55.094 --> 00:31:02.501 - that, yes, we want to do this, and we're going to make this happen. And there will be a hearing at that 00:31:02.501 --> 00:31:09.837 - point. That's the point where the public can be involved. We already had a public meeting. We had some 00:31:09.837 --> 00:31:15.678 - public show up and discuss the project. We did not receive any negative feedback. 00:31:16.066 --> 00:31:26.422 - during that public meeting. So we're following the statutory process. So we are asking you to approve 00:31:26.422 --> 00:31:36.575 - resolution 26-17. Thank you, Dana. Do the RDC members have any questions for Dana about the process 00:31:36.575 --> 00:31:44.190 - or the substance of what's in the resolution? Dana, I think you said this. 00:31:44.546 --> 00:31:52.863 - I want to just make sure I understood it. When does the baseline for value actually get established 00:31:52.863 --> 00:32:02.012 - for Shasta, for instance? It will be as of January 1st of this year. So as long as the declaratory resolution 00:32:02.012 --> 00:32:10.662 - is passed in this calendar year, it reverts to January 1st. It used to be different, but that's another 00:32:10.662 --> 00:32:13.822 - story if I can hear. But January 1st. 00:32:15.010 --> 00:32:23.508 - And that's the, and that's the, they, that's the, it's established just for, for phase one, correct? 00:32:23.508 --> 00:32:32.259 - Correct, yes. And as we add areas, then you would, we would add, the baseline would be determined then, 00:32:32.259 --> 00:32:40.674 - depending upon what year we establish the other ones. Right, right. And of course, as they start to 00:32:40.674 --> 00:32:43.198 - develop, before they develop, 00:32:44.098 --> 00:32:52.592 - establish the allocation area, start with another declaratory resolution to start that allocation area 00:32:52.592 --> 00:33:00.838 - when we know that before development is going to start to keep that base assessed value low. But we 00:33:00.838 --> 00:33:09.085 - don't want to start it too soon and inadvertently start a clock that we don't want to start. And as 00:33:09.085 --> 00:33:13.950 - we add allocation areas, does it go to the plan commission 00:33:14.498 --> 00:33:24.870 - City Council each time, or is this one large declaratory resolution that only gets approved once through 00:33:24.870 --> 00:33:35.242 - those various bodies? It will go through the process again. OK. So there's always opportunity for input. 00:33:35.242 --> 00:33:42.750 - And just like we'll have a hearing on this declaratory resolution in April, 00:33:42.850 --> 00:33:49.977 - they would be followed with a public hearing as well before they could be passed. Thanks, Dana. Can 00:33:49.977 --> 00:33:57.175 - I ask a question just about that, just in terms of the sequencing, what triggers the next one? Do we 00:33:57.175 --> 00:34:04.658 - just kind of jump through each of these allocation areas and get the resolutions passed? The development 00:34:04.658 --> 00:34:11.998 - is going to drive it. So if Denali would, the second one we're thinking about, it's going to start up. 00:34:12.354 --> 00:34:19.615 - two years, then in two years, we would create the allocation area for that. If it can install and it 00:34:19.615 --> 00:34:27.164 - takes four or five years, then we'll wait four or five years. We do want to do it before the development 00:34:27.164 --> 00:34:34.497 - occurs in there. But again, there are things that trigger the clock, like a debt, a signing debt. And 00:34:34.497 --> 00:34:41.758 - if you can do that, then you start the clock. But we don't want the clock to run too soon because we 00:34:42.018 --> 00:34:50.745 - capture that incremental increase for as long as we can. Yeah. One last question, Dana. Do you have 00:34:50.745 --> 00:34:59.995 - a larger map that shows where this is? I was playing around with Google Maps, and I couldn't quite figure 00:34:59.995 --> 00:35:08.984 - out where Sudbury and Adams intersect. Sure. Anna has one mission that's going to be used for the next 00:35:08.984 --> 00:35:10.206 - presentation. 00:35:15.426 --> 00:35:25.388 - Oh, I see. Okay. And Adams is constructed coming up from path and going down from Bloomfield Road, but 00:35:25.388 --> 00:35:35.351 - that white hashed area is not constructed. So that's making a much, much more interconnected area. And 00:35:35.351 --> 00:35:44.926 - then when you can attach the two together with Sudbury, that once again is making interconnections 00:35:45.346 --> 00:35:56.632 - through the city roadway system, street system, to help with traffic flow and safety and some of the 00:35:56.632 --> 00:36:07.807 - other things. Thanks. Dana, on the map you presented in regards to their sequencing, the map in our 00:36:07.807 --> 00:36:15.294 - resolution has different numbers in regards to it in the TIF area. 00:36:16.066 --> 00:36:23.578 - So I don't know if that needs to be corrected accordingly in our resolution, because what I just heard 00:36:23.578 --> 00:36:31.236 - was that Shasta Meadows, which is indicated on your map as TIF Area 1, is TIF Area 5 in regards to this. 00:36:31.236 --> 00:36:38.602 - Yeah, it is referenced in the, just the fact that in so many of these drawings done, it is reflected 00:36:38.602 --> 00:36:45.822 - in the name of the attachment itself, which area it is. So we follow the attachments, the sections 00:36:46.210 --> 00:36:53.753 - attachment to the resolution space, but this is we are referring to the Shasta Meadows. It still says 00:36:53.753 --> 00:37:01.221 - TIF Area 5 off Sudbury Drive. That wasn't created by that. That came from Sudbury. I understand. I'm 00:37:01.221 --> 00:37:08.986 - just trying to get it. Five is one. Right. That's what I'm looking at is any resolution that was passed, 00:37:08.986 --> 00:37:11.870 - do we need that corrected accordingly? 00:37:12.130 --> 00:37:18.536 - Yeah, for consistency. For consistency. It would be helpful if we're looking at slides that have it 00:37:18.536 --> 00:37:25.327 - labeled as one and the resolution is labeled as five. It would be helpful to have the same numbers across 00:37:25.327 --> 00:37:31.926 - all documents. But doesn't the exhibits and the resolution match, though? Yeah. They do? Yeah. And the 00:37:31.926 --> 00:37:38.460 - importance of that from that, that's identified. Yeah, allocation area includes TIF area five. Right. 00:37:38.460 --> 00:37:40.254 - I'm just looking at it from 00:37:40.418 --> 00:37:46.223 - a consistency of a presentation basis based on what we showed. Yeah, I agree. What was on the screen 00:37:46.223 --> 00:37:51.971 - doesn't match, but that's not part of the document. Right. It's part of the presentation. It's part 00:37:51.971 --> 00:37:57.834 - of his presentation. It's part of the presentation. So the allocation area that we're dealing with at 00:37:57.834 --> 00:38:03.639 - the present moment is on the presentation is one, and the resolution is tip area five, which is the. 00:38:03.639 --> 00:38:09.502 - But that colored document that you're looking at is from the PUD. We can't change that. I understand. 00:38:09.602 --> 00:38:14.950 - I'm trying to, when I'm asking these questions, it's not to be argumentative. It's simply to put that 00:38:14.950 --> 00:38:20.298 - the PUD resolution that went through the playing commission also matches some of the resolutions. And 00:38:20.298 --> 00:38:25.646 - they have different numbers. And they have different numbers. And they have different numbers. So the 00:38:25.646 --> 00:38:30.994 - confusion aspect of that, if someone's looking at it from the playing commission, is going to say tip 00:38:30.994 --> 00:38:36.237 - area one, but it's actually tip area five. Can you show that colored map again? I just want to make 00:38:36.237 --> 00:38:37.758 - sure you know that that is a 00:38:38.178 --> 00:38:44.077 - The document that's already gone through the PUD process that we can't amend. Right. I understand. That's 00:38:44.077 --> 00:38:50.033 - why I was asking in regards to this if this would be amended in regards to what they've done so it matches 00:38:50.033 --> 00:38:55.765 - our presentation. So if there's any public that indicate what area we're actually talking about, right 00:38:55.765 --> 00:39:01.386 - now we're talking about allocation area for the Shasta Meadows, which is TIF area one based upon the 00:39:01.386 --> 00:39:07.230 - PUD map that went through planning and was approved. And it's actually in our resolution, TIF area five. 00:39:07.426 --> 00:39:15.301 - Based on which is a bit based on the exhibit. So should be fun. Yeah, it should be one instead of five 00:39:15.301 --> 00:39:22.947 - So we should chat well, we can't check our presentation is rudimentary it just pulled out something 00:39:22.947 --> 00:39:31.128 - that was previously passed So I'm just trying to be consistent. Well, it's too very bad that we're hitting 00:39:31.128 --> 00:39:32.734 - for allocation areas 00:39:32.834 --> 00:39:38.926 - Yeah, I would focus on the resolution and the exhibit attached to the resolution. It is TIFF Area 5. 00:39:38.926 --> 00:39:44.958 - Right. We're not voting on the color. No, you are not. No, I know we're not voting on it. I'm just, 00:39:44.958 --> 00:39:51.351 - again, trying to be consistent in regards to where we're looking. But TIFF Area 5-4-3-2-1 did not include 00:39:51.351 --> 00:39:57.926 - the names of the neighborhoods as they're calling them out. So TIFF Area 5. I'm trying to get clarification. 00:39:57.926 --> 00:40:01.726 - TIFF Area 5 is the Shasta Meadow area, which is going to first 00:40:01.922 --> 00:40:10.354 - be allocated as an EDA in that area. That's the only thing we're really. The entire area is the EDA, 00:40:10.354 --> 00:40:18.703 - all five. The entire area is EDA. The allocation area. Just the allocation area. Yeah. So remember, 00:40:18.703 --> 00:40:27.636 - the EDA is the entire tip. Right. And then you have smaller allocation areas within it. And we're starting 00:40:27.636 --> 00:40:30.558 - with Shasta. Yeah, which would be. 00:40:30.850 --> 00:40:37.384 - Just to be sure, so when people pull this document up in 20 years, they're going to see that the numbers 00:40:37.384 --> 00:40:43.794 - match here. Your point is it doesn't match the PUD map, which was done some period of time ago. Right. 00:40:43.794 --> 00:40:50.016 - We can't change it. I'm just trying to keep everything. If people start looking for documents as we 00:40:50.016 --> 00:40:56.426 - look through the documents in our Bloom doc and such, they're difficult to find. And they don't always 00:40:56.426 --> 00:41:00.222 - correspond. So the allocation area that we hit on TIF Area 5 00:41:01.122 --> 00:41:08.202 - That's the amount of dollars we're going to capture to verify through the name of Shasta Meadows, which 00:41:08.202 --> 00:41:15.214 - from a development standpoint, is that going to include single family? Will that have multifamily? And 00:41:15.214 --> 00:41:22.566 - question for you, Dana, is the multifamily able to be captured from a revenue standpoint in the residential 00:41:22.566 --> 00:41:29.918 - TIF? Yes, most of it will be considered eligible for the residential TIF. What is not can still be captured 00:41:30.306 --> 00:41:38.041 - as the commercial aspect. But again, you're still limiting it to the 20 years instead of 25 years. So 00:41:38.041 --> 00:41:45.776 - that's why you have to do the balancing act of how much is going to be residential, how much is going 00:41:45.776 --> 00:41:53.738 - to be commercial, when is what going to be developed, what is the way to be strategic and flexible about 00:41:53.738 --> 00:41:59.198 - it to capture the greatest amount of incremental tip funds that you can 00:41:59.490 --> 00:42:07.795 - to support the area. That's why we're hitting our allocation area, Shasta Meadows first, because that's 00:42:07.795 --> 00:42:16.100 - the first one. Do we have any idea what, based on the preliminary PUD, what revenues would be generated 00:42:16.100 --> 00:42:24.326 - from that allocation area? Number of units? We don't at this time. Really, there is an overall concept 00:42:24.326 --> 00:42:28.638 - of how area five of the Shasta Meadows is going to be 00:42:29.090 --> 00:42:39.432 - developed, but it's not been filed out yet. So we were not going to, there have been reports that gave 00:42:39.432 --> 00:42:49.574 - estimates, but to me, I do not, I think KSM did a report a long time ago before going before me, but 00:42:49.574 --> 00:42:57.406 - that one is old and two, until we have the idea of how this might actually be 00:42:57.698 --> 00:43:05.911 - is going to be very difficult to say what's going to go in there. And then part of the dollars that 00:43:05.911 --> 00:43:14.124 - we're looking at, or EDTA, will be we set our baseline. It captures the incremental that's going to 00:43:14.124 --> 00:43:22.666 - come up. What kind of time frame do we typically look at for any recapture? Typically, we've been using 00:43:22.666 --> 00:43:26.526 - the maximum amount allowable for the different 00:43:26.626 --> 00:43:35.683 - allocation areas. So we would be looking at 20 years, not from today, not from any confirmments, but 00:43:35.683 --> 00:43:45.367 - from the time you have the first obligation from it. So if you do some bondings to help with infrastructure 00:43:45.367 --> 00:43:54.782 - costs, once that bond payment becomes first due, that starts to talk for the 20 years. So realistically, 00:43:55.138 --> 00:44:04.024 - Given the timeframe, this has got to go through EDT resolution from us, planning commission, city council. 00:44:04.024 --> 00:44:12.412 - Before anything would happen, realistically, this is probably a few months to a year away. Actually, 00:44:12.412 --> 00:44:20.716 - we're shooting to have it back to you to finalize it in April. OK. So do you have a question? Yeah. 00:44:20.716 --> 00:44:21.630 - Thank you. 00:44:21.826 --> 00:44:28.899 - Dina, can you say more about the type of housing that's envisioned for Shasta? You've talked 00:44:28.899 --> 00:44:36.809 - about single-family and multi-family. Do you have anything you could share in terms of the price ranges 00:44:36.809 --> 00:44:44.415 - we're likely to see? I would not know about the price ranges. There is in the PUD. I have to dig up 00:44:44.415 --> 00:44:48.446 - it. It gave estimates of what would be in each area. 00:44:53.506 --> 00:45:01.077 - Is it anticipated there might be any development agreement that would have a defined housing outcome 00:45:01.077 --> 00:45:08.798 - as kind of part of a leverage of the offer of the TIF and the allocation funds for the infrastructure, 00:45:08.798 --> 00:45:16.293 - you know, having some kind of agreement as opposed to just a projection? So when you say allocation 00:45:16.293 --> 00:45:22.590 - of funds, do you mean allocation of funds to a developer? I mean that obviously the 00:45:22.914 --> 00:45:28.921 - city is taking on the risk and the funding that would be allocated through this TIF that is to benefit 00:45:28.921 --> 00:45:34.986 - the development of the housing. So I'm asking if there is anticipated that there would be a development 00:45:34.986 --> 00:45:40.876 - agreement to guarantee certain kinds of housing, whether price points or housing types that the city 00:45:40.876 --> 00:45:47.116 - has an interest in, in terms of the city's own resources being put into the project. So one of the things, 00:45:47.116 --> 00:45:52.190 - and I don't know if this is going to be responsive to your question or concern or not, 00:45:53.090 --> 00:46:00.620 - We've sort of switched gears with this developer from the way things started. There was early conversation 00:46:00.620 --> 00:46:07.658 - with this developer about providing funds for incentives for them, doing bonds, that kind of thing, 00:46:07.658 --> 00:46:14.695 - developer-backed bonds. But where we're going with this area is really to just, and we talked about 00:46:14.695 --> 00:46:22.718 - this when we talked about the fear marking of the $5 million for design, and that's going to be addressed in that 00:46:23.010 --> 00:46:31.894 - MOU that's coming up later on the agenda. We do not anticipate giving the developer funds for housing 00:46:31.894 --> 00:46:40.952 - or tying our funds to housing. Our proposal is that we use our TIF dollars for building infrastructure. 00:46:40.952 --> 00:46:50.446 - And my question is not about funding for housing. It's about getting an agreement, like basically leveraging 00:46:50.446 --> 00:46:52.798 - the infrastructure funding 00:46:52.994 --> 00:46:59.222 - in exchange for a commitment to housing of certain price points, housing types that the city desires. 00:46:59.222 --> 00:47:05.388 - You know, obviously the developer has their own market analysis that they might do, but the city may 00:47:05.388 --> 00:47:11.555 - have, you know, priorities that are not always met by the market. And so in terms of in exchange for 00:47:11.555 --> 00:47:17.844 - the infrastructure investment that the city is helping to leverage through the TIF, I'm asking if it's 00:47:17.844 --> 00:47:20.286 - anticipated there might be an agreement 00:47:20.738 --> 00:47:26.576 - in terms of housing outcomes, that's not just a projection of what they might like to build, but what 00:47:26.576 --> 00:47:32.472 - the city would like to see as a priority from. In addition to, you mean more detail than like the PUD, 00:47:32.472 --> 00:47:37.852 - right? I mean, we've got the PUD, you're saying drill down and be a little bit more detailed. 00:47:37.852 --> 00:47:43.462 - And is that, I mean, we have, certainly, you know, there's, and Dana, you may want to address it. 00:47:43.462 --> 00:47:49.758 - I mean, certainly there can be that kind of thing. I don't think we've, I think that's kind of a conversation 00:47:50.210 --> 00:47:56.480 - beyond today. I mean, it's kind of a next step. It's not, you know, it's further down the road, 00:47:56.480 --> 00:48:03.272 - pun intended, than just getting this EDA created. But I don't know, Anna, if you have it from a housing 00:48:03.272 --> 00:48:09.933 - perspective, if you want to address any of those issues of trying to get certain kinds of housing. So 00:48:09.933 --> 00:48:13.982 - we did enter into an agreement with the developer to purchase 00:48:14.114 --> 00:48:20.862 - 20 lots and require them to be under 100% of the area median income. So we know that those are coming, 00:48:20.862 --> 00:48:28.069 - but I do not have other information about what types or prices or kinds. I think that there's been discussion 00:48:28.069 --> 00:48:34.686 - of townhomes. I believe if it's more than four attached units, then it qualifies for commercial TIF. 00:48:34.818 --> 00:48:41.139 - Um, but I know that there's been conversation and maybe a few of those, but I do not have specific 00:48:41.139 --> 00:48:47.524 - information. Um, director Cooper Smith may have some additional contacts that she's been engaged as 00:48:47.524 --> 00:48:54.356 - well. I mean, hi everybody. I would be pulling the numbers up. So I think this is really just a reflection 00:48:54.356 --> 00:49:00.933 - of the current, I mean, this isn't an answer anyone likes, but it's the current marketplace where the, 00:49:00.933 --> 00:49:03.742 - in order to get any units to go, we really, 00:49:04.162 --> 00:49:10.352 - are having to figure out how to support this development. So Anna talked about that lot purchase. And 00:49:10.352 --> 00:49:16.603 - then we're working on some ready funding also to offset the cost. So it's not like the city is in this 00:49:16.603 --> 00:49:22.853 - or the RDC is in this alone. We're really working to leverage outside resources. We've tried to figure 00:49:22.853 --> 00:49:29.104 - out if this can go on an opportunity zone. It cannot, which is unfortunate. And so instead, we've been 00:49:29.104 --> 00:49:33.534 - talking about a deal structure like Margie described, which would really 00:49:33.730 --> 00:49:41.333 - put the control in the cities or in the redevelopment commissions within the redevelopment commission 00:49:41.333 --> 00:49:48.935 - and it would allow, yeah, just quality control as the funding is being dispersed if the redevelopment 00:49:48.935 --> 00:49:56.985 - commission ends up going that direction. But that's just kind of where it's step one. We're not negotiating 00:49:56.985 --> 00:50:00.190 - that deal right now and I don't think that 00:50:01.986 --> 00:50:10.898 - I might be going too far out of my lane, but I don't know that there's a desire for that on our perspective. 00:50:10.898 --> 00:50:19.237 - We just want to see the units created, period. And they're committed to the volume and the types that 00:50:19.237 --> 00:50:27.985 - are in the PUD. Yeah. As far as adding onto that, what you're going to want to see in 2619 is a discussion 00:50:27.985 --> 00:50:31.582 - about supporting the infrastructure design. 00:50:32.002 --> 00:50:43.964 - And that's under an agreement with separate partners, the developer. Once we get past that, more about 00:50:43.964 --> 00:50:55.810 - that later, when it comes to, you know, 2.8 prevent structure, there is the ability to negotiate with 00:50:55.810 --> 00:50:59.294 - separate partners about that. 00:50:59.810 --> 00:51:09.514 - what we can bring to the table, what we can. We still have to work on that. But is there a possibility 00:51:09.514 --> 00:51:19.123 - that we could do something that would lead towards some commitment to affordability if it's possible? 00:51:19.123 --> 00:51:28.638 - We just don't know as much about, again, how this is going to be plotted out to be able to say that. 00:51:29.122 --> 00:51:37.415 - As far as your question, would it be possible? It is possible. What happens, I'm not sure. It depends 00:51:37.415 --> 00:51:45.790 - on what effect we get to that point. But it is possible to say, hey, we make a payment infrastructure. 00:51:45.790 --> 00:51:53.921 - But by doing that, we want some sort of commitment, a minimal commitment or whatever that you're at 00:51:53.921 --> 00:51:58.718 - least going to do this much. And so that is a possibility. 00:51:59.650 --> 00:52:12.957 - I think it's also really important to come back to this idea of what new construction affordability 00:52:12.957 --> 00:52:20.542 - means. I mean if you're talking about the most expensive 00:52:20.642 --> 00:52:27.783 - housing to deliver. Right now our market is so constrained that any units will help at all price points. 00:52:27.783 --> 00:52:34.720 - The affordability and new construction are very difficult to understand. I get it. But right now it's 00:52:34.720 --> 00:52:41.793 - the laws of supply and demand. We need units. And what that does to the overall market is take pressure 00:52:41.793 --> 00:52:44.990 - off of existing units at similar price points. 00:52:45.378 --> 00:52:51.458 - helping the housing market, not necessarily the delivery of those specific units. And so I think we 00:52:51.458 --> 00:52:57.720 - really need to reframe some of those conversations around what the goal is. The goal is we need units, 00:52:57.720 --> 00:53:03.921 - period. We are short on units significantly in Bloomington. That is what will help drive down some of 00:53:03.921 --> 00:53:06.718 - our housing affordability issues market-wide. 00:53:07.266 --> 00:53:13.985 - And I specifically was not using the word affordability in my question, but I understand that's a common 00:53:13.985 --> 00:53:20.576 - and reasonable concern. So I appreciate your answer. Did you have follow up? It spawned an interesting 00:53:20.576 --> 00:53:26.975 - discussion, so I'm happy with that. I have one other question, which is, when does a financing plan 00:53:26.975 --> 00:53:33.438 - kind of emerge from this? Either the declaration, obviously the agreement that's later on the agenda 00:53:33.438 --> 00:53:36.190 - is really just a design focused agreement. 00:53:36.322 --> 00:53:42.857 - But I'm just trying to get a sense of, like, when do bonds get issued? Under what kind of repayment 00:53:42.857 --> 00:53:49.522 - terms? Like, when do those decisions happen? And does that come back before us? Or is it just kind of 00:53:49.522 --> 00:53:56.187 - gone once it leaves? There are going to be bonds that will come back before you. And it would also go 00:53:56.187 --> 00:54:02.983 - to common counsel. Common counsel is the only one that can approve the bonding. So when the bonds might 00:54:02.983 --> 00:54:05.662 - come in by, say, we get it all designed, 00:54:05.922 --> 00:54:12.992 - By design, now we know how much it costs to construct. Now we can talk about an agreement who may pay 00:54:12.992 --> 00:54:20.477 - for what for the construction and for the part that if the RDC is willing to pay part of the infrastructure 00:54:20.477 --> 00:54:27.547 - costs, is that going to be out of cash on hand or do they want a bond for it? And if they want a bond 00:54:27.547 --> 00:54:34.686 - for it, that's when you calculate how much revenue is anticipated and how much would the project cost. 00:54:34.978 --> 00:54:43.740 - So how long would the bonds need to be, which would be a maximum of 20 years, if we go beyond that. 00:54:43.740 --> 00:54:52.678 - So those terms would be developed then. But until we have ideas of construction costs, which we don't 00:54:52.678 --> 00:55:01.703 - have right now, we don't know. But it would be coming after the design process. And I want to clarify, 00:55:01.703 --> 00:55:03.806 - when he mentions bonds, 00:55:03.906 --> 00:55:10.935 - I think you were talking, Dana, about just RDC TIF bonds for public infrastructure. So there's 00:55:10.935 --> 00:55:18.481 - no conversation at this point about issuing developer-backed bonds for the housing. And generally, in 00:55:18.481 --> 00:55:26.101 - some conversations we've had with engineering, the reason we asked you for that $5 million earlier for 00:55:26.101 --> 00:55:32.094 - designing roads, and we'll talk about this when we get to the third agenda item, 00:55:32.354 --> 00:55:39.656 - we were estimating you know kind of what costs might be and the engineering rule is generally like five 00:55:39.656 --> 00:55:47.027 - million dollars worth of designs get you about 25 million dollars worth of roadway and we're like that's 00:55:47.027 --> 00:55:54.048 - a good place to start at this point. We don't know yet I mean there are no engineering contracts in 00:55:54.048 --> 00:55:59.454 - place yet and our engineering department is going to lead in that regard but 00:56:00.386 --> 00:56:07.918 - You know, we're not even there yet. We can't even do an MOU with the developer yet regarding construction 00:56:07.918 --> 00:56:15.024 - because we don't have the design check. We just got to get that piece done first. So I think we may 00:56:15.024 --> 00:56:22.129 - have presented this with just gone in with a lot of detail up front. That big picture, I think what 00:56:22.129 --> 00:56:29.022 - you can tell from what Margie's describing and just the fact that we're at this first step, it's 00:56:29.794 --> 00:56:36.745 - It's phased. There's no, what am I trying to say? We're not at a point where we've done all the legwork 00:56:36.745 --> 00:56:43.495 - and then we're going to surprise you with a really complex tip agreement that's fully baked. This is 00:56:43.495 --> 00:56:50.245 - incremental. It's developing incrementally. This is the first step. And even Mr. Fernandez mentioned 00:56:50.245 --> 00:56:56.928 - in his presentation, this is our two years of population decline. That is why we are really working 00:56:56.928 --> 00:56:59.134 - to figure out what's the kind of 00:56:59.586 --> 00:57:07.118 - way that we can protect public resources while leveraging to facilitate the creation of these housing 00:57:07.118 --> 00:57:14.650 - units. And the TIF is the way to get that done through leveraging that in some way. And we think that 00:57:14.650 --> 00:57:22.329 - we have a really good roadmap. But it's not finished yet. And it will continue to happen incrementally. 00:57:22.329 --> 00:57:28.606 - At this point, we have, Margie mentioned, a number of MOUs that are being sequenced. 00:57:29.058 --> 00:57:36.383 - it will be bringing the RDC along as the project evolves. And I would expect even things like, and I 00:57:36.383 --> 00:57:44.144 - entered and mentioned it in one of your previous meetings, like engineering contracts to come back through 00:57:44.144 --> 00:57:51.469 - RDC. I mean, you'll be apprised of the steps, the incremental steps, as we go along. OK. My creating 00:57:51.469 --> 00:57:58.142 - a tip that does give you all the authority to be in the driver's seat with what's going on. 00:57:58.658 --> 00:58:06.928 - And so you're able to, you know, the contracts would come to you. Any plans that, hey, should we do 00:58:06.928 --> 00:58:15.198 - some bonding for infrastructure? Or should we do this, that, or the other? That would all be coming 00:58:15.198 --> 00:58:23.634 - to you. This is just the first incremental step. Those things have to evolve as this project goes on. 00:58:23.634 --> 00:58:27.934 - It's not something we can plan in this far advance. 00:58:28.418 --> 00:58:37.006 - But my approach to everything has always been, how do you maintain as much flexibility as possible? 00:58:37.006 --> 00:58:45.680 - And so by doing one allocation in the area at a time, that gives us flexibility by not committing to 00:58:45.680 --> 00:58:54.269 - any particular path to where it gives us the flexibility. So I want the commissioners to be able to 00:58:54.269 --> 00:58:57.790 - have the flexibility to be able to guide 00:58:58.210 --> 00:59:08.092 - this using your knowledge and your reasoning and discernment. Yeah, do we? So I just want to be cognizant 00:59:08.092 --> 00:59:17.974 - of our time. Not to cut down any questions, but do you guys have any additional questions on this matter? 00:59:17.974 --> 00:59:27.390 - Yeah, I do. Yeah, go ahead. This question probably bleeds into 2620, but I'm going to ask it anyway. 00:59:28.162 --> 00:59:38.597 - Does the, before any kind of development can occur on any of these, in any of these areas, is it not 00:59:38.597 --> 00:59:48.929 - true that Adams and Sudbury have to be complete? That is true. That is in the PED. The PED requires 00:59:48.929 --> 00:59:57.918 - before any occupancy permit can be given is that Sudbury and Adams must be constructed 00:59:58.434 --> 01:00:06.317 - There's a few reasons for that. One is previous history where projects... That's okay. I just wanted 01:00:06.317 --> 01:00:14.356 - to establish that that had to happen. So from my standpoint, I think that any kind of TIF dollars that 01:00:14.356 --> 01:00:22.161 - can be used for that infrastructure is critical. And we've had decades of debates about how we were 01:00:22.161 --> 01:00:26.142 - going to get those roads and those utilities done. 01:00:26.658 --> 01:00:33.732 - So if this is a pathway to that, then it's a win from the get-go. This is definitely the start of that 01:00:33.732 --> 01:00:40.736 - pathway. Yeah. I mean, you're talking about the biggest PUD in Bloomington's history. To follow up on 01:00:40.736 --> 01:00:47.604 - what John's question is, those roads will have to be done even before Shasta Meadows is occupied or 01:00:47.604 --> 01:00:54.334 - done. So literally, this could be a couple of years just because of design and road construction. 01:00:56.674 --> 01:01:02.739 - Well, that's why we're, that's why we have to put this down. That's why we're here. I understand. I'm 01:01:02.739 --> 01:01:08.745 - just trying to put a realistic timeline to the standpoint of while we have significant other dollars 01:01:08.745 --> 01:01:14.929 - that have to be done, this is not going to generate enough revenue in the time frame to offset the cost 01:01:14.929 --> 01:01:21.054 - of the roads, according. And practically speaking, we have felt that getting the infrastructure moving 01:01:21.538 --> 01:01:27.517 - is going to spur development, because once you get these roads built, that area suddenly looks a lot 01:01:27.517 --> 01:01:33.555 - more interesting to the world than it does now. You know, once you have a road that goes north, south 01:01:33.555 --> 01:01:39.593 - between Second and Tap, and you have these approved roads, suddenly it's like, yeah, I could drive in 01:01:39.593 --> 01:01:45.809 - here. Yeah, that's why we're pushing the infrastructure. And we're looking from a road standpoint, Adams 01:01:45.809 --> 01:01:49.598 - and Sudbury. Those will be our primary things we're looking at. 01:01:49.858 --> 01:01:57.069 - Ultimately, we're also having conversations. I haven't brought anything to you yet, but we're talking 01:01:57.069 --> 01:02:04.492 - to folks about the north-south roads and talking to engineering about what's eventually going to replace 01:02:04.492 --> 01:02:11.561 - Weamer. Right, because Weamer is a bottleneck in regards to where we're going without Sudbury going 01:02:11.561 --> 01:02:18.631 - through and utilizing that as our thing. Yeah, there's going to have to be a new improvement in the 01:02:18.631 --> 01:02:19.550 - north-south. 01:02:20.450 --> 01:02:28.801 - Okay. Thank you. I just had one edit that needs attention on the bottom of page four of this resolution 01:02:28.801 --> 01:02:37.071 - number 17 that references Pike County in a couple places. That has been corrected and uploaded online. 01:02:37.071 --> 01:02:45.502 - Okay. Thank you. I appreciate that. Just wanted to make sure. Well, again, I want to take in the one off 01:02:45.794 --> 01:02:52.547 - It might not have been the linked version, which might have been corrected. I just wanted the whole 01:02:52.547 --> 01:02:59.300 - PDF, and that's what I grabbed off the website. It should be corrected in both the links and in the 01:02:59.300 --> 01:03:06.053 - packet. OK, thank you. OK, well, if there's no other comments from commissioners, we'll open it for 01:03:06.053 --> 01:03:12.941 - public comment, either in person or online. Seeing none, I'll entertain a motion on resolution 26-17. 01:03:12.941 --> 01:03:15.710 - Go ahead. No, I'll be happy to relay it. 01:03:16.098 --> 01:03:23.357 - Well, thank you, John. That's kind of you. Prefer, not relent. Relent. Move approval of Resolution 2617. 01:03:23.357 --> 01:03:30.340 - I'll second. I feel that John should be the one to second. Okay, we have a first and a second. We'll 01:03:30.340 --> 01:03:37.599 - do a vote by roll call, please. Steve Scambler, yes. Brandy Gaste, yes. John West, yes. Laurie McRobbie, 01:03:37.599 --> 01:03:43.614 - yes. Deborah Meiersing, yes. Motion passes unanimously for Resolution 2617. Thank you. 01:03:45.186 --> 01:03:50.969 - Next item on our agenda is resolution 2619, which is an approval to terminate the Monroe County CASA 01:03:50.969 --> 01:03:56.695 - incorporated lease at Star Wars West. Who would like to speak to that? I will address that. So this 01:03:56.695 --> 01:04:02.535 - is papering up something that I mentioned to you during your last meeting, which is an agreement that 01:04:02.535 --> 01:04:08.319 - we've reached with CASA whereby they will terminate their lease and they have plans to move to a new 01:04:08.319 --> 01:04:14.216 - location in exchange for their termination of the lease. The redevelopment commission will pay a total 01:04:14.216 --> 01:04:14.846 - of $45,000 01:04:15.170 --> 01:04:23.913 - $751.50 for convenience sake, not because it changes that number, but in paragraph two of the agreement, 01:04:23.913 --> 01:04:32.240 - we've put in there that the value of the parking passes, because in addition to that number, we are 01:04:32.240 --> 01:04:41.150 - providing two annual parking passes to the tenant per year. Those are 24-7 passes that are $119 per month. 01:04:41.986 --> 01:04:49.969 - 119 times 12 times two is $1,428. And so that was a question that we had with, we were having a sidebar 01:04:49.969 --> 01:04:58.181 - conversation prior to this meeting just to make sure that we both understood how I arrived at that number. 01:04:58.181 --> 01:05:05.934 - But the total amount the RDC is going to be asked to pay the cost is $45,751. I would encourage your 01:05:05.934 --> 01:05:10.846 - approval and entertain any questions you might have. Thank you. 01:05:11.426 --> 01:05:17.873 - Any questions or comments from commissioners on this resolution? No. That's everything she's had. 01:05:17.873 --> 01:05:24.781 - March 31. OK. And that gives them adequate time, too. Yes. I actually think, based on our conversations, 01:05:24.781 --> 01:05:31.557 - they may actually be out earlier than March 31, but they haven't done March 31 until they're all done. 01:05:31.557 --> 01:05:36.030 - OK. That just leaves us three or four additional. A few more. Yeah. 01:05:40.226 --> 01:05:48.935 - No other comments or questions from commissioners. Open it for public comment, either online or in person. 01:05:48.935 --> 01:05:57.480 - And seeing none, entertain a motion in resolution 26-19, please. I'll move approval of resolution 26-19. 01:05:57.480 --> 01:06:05.863 - I'll second. Second. OK, we've got a first and a second. A vote by roll call, please. Seuss, Campbell, 01:06:05.863 --> 01:06:10.014 - Larry, yes. Brandy, Cassidy, yes. John, West, yes. 01:06:11.042 --> 01:06:18.124 - Yes. Yes, motion passes unanimously. Thank you. And the last item of new business our agenda is resolution 01:06:18.124 --> 01:06:24.743 - 2620, which is an approval of an agreement between Sudbury Development Partners LLC and the City of 01:06:24.743 --> 01:06:31.495 - Luton Redevelopment Commission regarding Summit District plan unit development and planned and public 01:06:31.495 --> 01:06:38.180 - infrastructure improvements. Would like to speak to that please. I can speak to that. I'll try to be 01:06:38.180 --> 01:06:40.894 - brief at first but answer any questions. 01:06:41.858 --> 01:06:50.738 - As we have talked that Sudbury and Adams are integral roadways that will benefit not only some of the 01:06:50.738 --> 01:06:59.445 - district, but the entire Southwest quadrant of the city. We're going to connect the ability between 01:06:59.445 --> 01:07:08.151 - Lincoln and Tapp, and between Adams and Wimmer. And you had already earmarked $5 million for design 01:07:08.151 --> 01:07:11.198 - work. And so this is an agreement. 01:07:11.458 --> 01:07:23.486 - We've made sure in the agreement that city engineering is in the driver's seat. They need to approve 01:07:23.486 --> 01:07:36.109 - the vendor. But engineering does not have the capacity to run this project and other offsite improvements 01:07:36.109 --> 01:07:40.158 - that we're working towards or the 01:07:41.506 --> 01:07:50.383 - property of Vanguard to the south, so they just don't have the capacity to do it all. So the Sudbury 01:07:50.383 --> 01:07:59.171 - Group will act as the overseer of what's going on with oversight of the phim from city engineering. 01:07:59.171 --> 01:08:08.575 - And the great thing about this is when the roadway is designed, there's an agreement that Sudbury partners 01:08:08.575 --> 01:08:09.630 - will donate 01:08:10.210 --> 01:08:18.034 - all the right-of-way needed for Sudbury to happen. And so therefore, even though it said that in the 01:08:18.034 --> 01:08:25.935 - CED, we wanted in this agreement, in case for some reason some of it didn't happen twice like what we 01:08:25.935 --> 01:08:33.759 - wanted to do, we wanted to make sure that those right-of-ways were available for the construction of 01:08:33.759 --> 01:08:39.646 - those roads, because those roads, again, are so important. And so the cost. 01:08:40.130 --> 01:08:49.576 - design of those two rows has been estimated to be about a million dollars customized in that ballpark. 01:08:49.576 --> 01:08:58.746 - But basically the RBC, about five million dollars, would use about a million dollars to pay for the 01:08:58.746 --> 01:09:07.550 - design, and Sudbury would oversee that design work and the field work. Sudbury would donate all 01:09:15.746 --> 01:09:25.571 - But at that point in time, we said we would also donate money for a fire station. And so that will be 01:09:25.571 --> 01:09:35.686 - negotiated between the parties exactly where that is. But once these two roads do get constructed, there 01:09:35.686 --> 01:09:42.814 - is a great hope to have a raceway neighborhood fire station in that area. 01:09:45.442 --> 01:09:53.354 - is for you to approve this agreement with separate partners so we can begin the design of these two 01:09:53.354 --> 01:10:01.265 - roads. And once they're designed, of course, then we will be able to calculate much more accurately 01:10:01.265 --> 01:10:09.335 - what the costs are going to be involved, which will help guide further discussions on how we're going 01:10:09.335 --> 01:10:11.550 - to make those roads happen. 01:10:16.130 --> 01:10:24.950 - Thank you. Any questions or comments from commissioners on resolution 26-20? This will be paid for out 01:10:24.950 --> 01:10:33.684 - of our existing consolidated TIF, or which allocation area will? Yes. The earmark was made out of the 01:10:33.684 --> 01:10:43.103 - consolidated TIF. And that consolidated TIF is allowed to pay expenses incurred by the redeveloped commission 01:10:43.103 --> 01:10:45.758 - for local public improvements. 01:10:46.242 --> 01:10:55.623 - that are either in the allocation area or serving the allocation area. And so these, again, these roads 01:10:55.623 --> 01:11:04.734 - may be serving the current allocation area as, you know, because again, they either may be in or per 01:11:04.734 --> 01:11:14.025 - serving. But yes, I'm fully expecting that the engineering contract that any engineering contract that 01:11:14.025 --> 01:11:16.190 - our engineers bring for 01:11:16.578 --> 01:11:23.812 - improvements will come through the RDC because it's going to be paid for by RDC with chip dollars and 01:11:23.812 --> 01:11:30.905 - the MOU will allow us to reimburse Sudbury's engineers but remember paragraph two says the director 01:11:30.905 --> 01:11:38.068 - of the city engineering department shall establish the standards by which the infrastructure must be 01:11:38.068 --> 01:11:43.742 - designed and shall approve the vendors associated with the design and then it's 01:11:43.874 --> 01:11:51.618 - has a process for vendor invoices to go through for Sudbury then through the engineering department 01:11:51.618 --> 01:12:00.137 - and city staff so there's going to be a lot of adding of these but yeah I think this MOU puts our engineering 01:12:00.137 --> 01:12:08.192 - department in the driver's seat in terms of design. Do we know if there'll be local firm participation? 01:12:08.192 --> 01:12:12.606 - I believe that they have I think their engineer is not a 01:12:12.738 --> 01:12:21.211 - Bloomington engineer. Anna, Jane, Dana, did they tell us? Yes. Sorry, I can picture the Stantec engineering 01:12:21.211 --> 01:12:29.449 - firm. That is somebody that they've already had been working with. They've already done some work. Yeah, 01:12:29.449 --> 01:12:37.294 - they've done work. Yeah. I'm just asking the question because as we look at local tip dollars being 01:12:37.294 --> 01:12:41.374 - paid, there's some local firm participation to get. 01:12:43.394 --> 01:12:51.704 - Let's see. And then the dollars that are collected from the residential TIF, would that ever go back 01:12:51.704 --> 01:12:59.931 - to repay any of this or the agreement based on? I'll be honest. There's always more demands for TIF 01:12:59.931 --> 01:13:08.652 - dollars than there are more projects than your money. I can't imagine that we're not going to have plenty 01:13:08.652 --> 01:13:13.342 - of needs in that area for the additional infrastructure. 01:13:13.570 --> 01:13:19.821 - Yeah, I mean, so I don't know that it will come back to repayments. And then dealing based upon where 01:13:19.821 --> 01:13:26.378 - they said there'd be a location of the fire station, I mean, that's been an ongoing discussion for 20-plus 01:13:26.378 --> 01:13:32.690 - years. Has any discussion been had in regards to where? Because as we look at Sudbury and Adams coming 01:13:32.690 --> 01:13:38.941 - through, that our local fire and safety have an allocation area or discussions with it already, or is 01:13:38.941 --> 01:13:40.350 - it just up in the air? 01:13:40.898 --> 01:13:47.587 - No, I think they're talking about a location, haven't they? Yeah, but I don't remember exactly where, 01:13:47.587 --> 01:13:54.144 - Director Coopersmith, do you remember where they've said the fire station would be? Was it? It's on 01:13:54.144 --> 01:14:00.309 - an eastern, it's adjacent to the power line trail and on one of the eastern most car schools. 01:14:00.309 --> 01:14:07.063 - So I'm sorry, I don't know how to identify the exact location. It's in the middle, somewhere near Adam 01:14:07.063 --> 01:14:10.014 - Street. Yes, it's close to the intersection. 01:14:10.114 --> 01:14:28.462 - Thank you. Margie, I think you just answered this to Randy, but that really was my only question. You're 01:14:28.462 --> 01:14:39.646 - confident that we can support the expenses incurred within this 01:14:40.738 --> 01:14:49.393 - TIF area with consolidated revenues until it becomes self-supporting, which will be years down the road. 01:14:49.393 --> 01:14:58.130 - Yeah, the infrastructures, yeah. Yeah, I think so. Because again, I think these will be expenses incurred 01:14:58.130 --> 01:15:06.373 - by the redevelopment commission serving. There's that typically you're restrained and have to spend 01:15:06.373 --> 01:15:10.494 - your money within the allocation area unless it's 01:15:10.914 --> 01:15:17.276 - expenses incurred by the redevelopment commission. And back to our philosophy, we want to spend TIF 01:15:17.276 --> 01:15:23.955 - dollars on things that we need as a community. We need better infrastructure that happens to serve these 01:15:23.955 --> 01:15:29.999 - developers and help them do the things they want. So we're running all of these things through 01:15:29.999 --> 01:15:36.615 - the redevelopment commission. One, because we think that we need them for our community and to develop, 01:15:36.615 --> 01:15:38.142 - and two, so that we can 01:15:38.402 --> 01:15:46.962 - make sure that we use these dollars for the serving, you know, serving the allocation area. If you remember, 01:15:46.962 --> 01:15:54.973 - it's what we did with the dispatch center too. It was just on the edge. Yeah, but it was on the edge. 01:15:54.973 --> 01:16:02.119 - I mean, it was, it became a geographic conversation. And this is not on the, I'm not sure. 01:16:02.119 --> 01:16:06.910 - Is it on the edge? It's on the edge. Yeah, it's on the edge. 01:16:07.042 --> 01:16:14.931 - Certainly, Adams and Sudbury clearly will serve the entire community. But this is one of our last undeveloped 01:16:14.931 --> 01:16:22.175 - quadrants of the city. And if we don't create infrastructure and open it up, it's going to sit there 01:16:22.175 --> 01:16:29.634 - undeveloped in our opinion, the way it has been. I don't disagree with you. To answer. The consolidated 01:16:29.634 --> 01:16:36.734 - tip will surround this EDA. I'm sorry. The consolidated tip will surround this EDA, except for any 01:16:36.930 --> 01:16:44.616 - property of the county that might be in the county to the very, very west. So yes, and funding 01:16:44.616 --> 01:16:53.273 - the consolidated TIF can be used in infrastructure that supports the consolidated TIF, which is definitely 01:16:53.273 --> 01:17:02.010 - would do that. Also, I'd like to remind everybody that towards the end of last year, there was a discussion 01:17:02.010 --> 01:17:06.622 - about the different projects that RDC had going forward. 01:17:07.010 --> 01:17:16.448 - this on Hopewell and so on, and feasibility of doing them and putting funding in Hopewell was part of 01:17:16.448 --> 01:17:25.792 - that analysis that was done. That it knew that some of it was going to have to have some influx. And 01:17:25.792 --> 01:17:35.230 - so the controller at the time had considered that in whether or not we have a pathway moving forward. 01:17:35.522 --> 01:17:44.661 - And it was determined that, yes, the RDC can and consolidate can assist this project. Plus, as you say, 01:17:44.661 --> 01:17:53.448 - at some point, it's going to start capturing that increment, where hopefully not only by the end of 01:17:53.448 --> 01:18:03.025 - the whole thing has it not only continued to help itself, but it's then able to use funds in the surrounding 01:18:03.025 --> 01:18:05.310 - area to benefit that area 01:18:05.826 --> 01:18:15.492 - as well. So, you know, we're really looking down the road for revenue for the RDC for 2025, and depending 01:18:15.492 --> 01:18:24.701 - on if it takes, say, 10 years to develop, 35 years down the road, which you don't have right now. So 01:18:24.701 --> 01:18:29.534 - this is also a long-term investment for ongoing RDC. 01:18:30.818 --> 01:18:37.672 - Director Coopersmith, did you have anything else? No, Dana answered my question. It's just John was 01:18:37.672 --> 01:18:44.732 - asking really specifically whether it's adjacent and it is. And then Dana provided all the context for 01:18:44.732 --> 01:18:51.723 - that. It's adjacent to the existing tips. I'm just curious, in the agreement it mentions, in addition 01:18:51.723 --> 01:18:59.126 - to what the RDC is obviously providing for infrastructure, the REDI 2.0 grant of $4 million. Just wondering 01:18:59.126 --> 01:19:00.702 - what the contributions 01:19:01.410 --> 01:19:07.904 - are required under that grant. Just understand how that fits into this project. Well, that grant is 01:19:07.904 --> 01:19:14.788 - still going through economic impact analysis with ROI. So we have two more steps before there is a signed 01:19:14.788 --> 01:19:21.347 - agreement. So just making sure the status is clear is not official. And then your question was, what 01:19:21.347 --> 01:19:28.101 - contributions are required? I was just wondering, what's the terms of that grant? What's expected under 01:19:28.101 --> 01:19:29.854 - that? Well, the investment 01:19:30.210 --> 01:19:38.370 - that is being made or has been made by the developer through the purchase and the work that's been done 01:19:38.370 --> 01:19:46.215 - so far meets the bulk of that matching requirement. And then similarly, the commitment that the RDC 01:19:46.215 --> 01:19:54.218 - made through the resolution last fall to use $5 million in design and planning, that meets the public 01:19:54.218 --> 01:19:59.710 - match for that $4 million grant. In reality, this project is so large 01:19:59.842 --> 01:20:08.402 - there will be more than enough match to go around. But the timeline is the tricky part. And I apologize. 01:20:08.402 --> 01:20:16.554 - I don't remember off the cuff what the final spend down of the ready funds has to be for the second 01:20:16.554 --> 01:20:25.196 - round. But we're in touch with ROI regularly and believe that we're on track for that approval. So what's 01:20:25.196 --> 01:20:29.598 - the grant for, though? The grant is for, sorry, sewer 01:20:30.050 --> 01:20:36.335 - infrastructure contributes to a lift station upgrade. OK, just wanted to know what it was. Sorry, I 01:20:36.335 --> 01:20:43.185 - misunderstood your question. No, I appreciate the information. You got all of it. I got all the information, 01:20:43.185 --> 01:20:49.847 - so thank you. OK, any other questions or comments from commissioners? If not, we'll go to public comment. 01:20:49.847 --> 01:20:56.446 - It looks like there's no one left from the public except for our honorable reporter. Any public comment, 01:20:56.446 --> 01:20:58.206 - either online or in person? 01:20:59.554 --> 01:21:08.158 - Seeing none, I will ask for a motion for Resolution 26-20. I'll move approval of Resolution 26-20. Move 01:21:08.158 --> 01:21:16.762 - a second? Second. We have a first and a second. We'll do a vote by roll call, please. Cease scam alert, 01:21:16.762 --> 01:21:22.718 - yes. Randy Cassidy, I'm going to abstain from this. I'm not a direct... 01:21:23.650 --> 01:21:32.947 - the joist and the property owner to either one of these. But given the fact I am one of the owners of 01:21:32.947 --> 01:21:41.879 - Woolery Mill, I feel it's best to abstain from a vote on this in order to keep full transparency. 01:21:41.879 --> 01:21:51.358 - Thank you. Can I vote twice? It's a yes for me. I was going to vote one for Randy. Laura McBridey, yes. 01:21:51.490 --> 01:22:01.552 - Debra Meyers, yes, motion passes four with one abstention. OK, that's the end of our new business on 01:22:01.552 --> 01:22:11.116 - the agenda. Is there any other business or general discussion? If not, a motion to adjourn. OK. 01:22:11.116 --> 01:22:16.894 - Thank you. Thank you all. Thank you. Thank you, everyone.