WEBVTT 00:00:00.000 --> 00:00:07.920 - Let me call this meeting of the new county redevelopment commission to order on march 26 2025 00:00:07.920 --> 00:00:17.600 - Commissioner martin yes commissioner cassidy president commissioner mccarty yes commissioner 00:00:17.600 --> 00:00:25.840 - talker present we have three voting members and one non-voting member present so we have a quorum 00:00:25.840 --> 00:00:37.920 - all right how you do you want to proceed with these reports do you want to present them 00:00:37.920 --> 00:00:47.680 - i think we will let uh present the financial solutions group group present them i would ask 00:00:47.680 --> 00:00:54.560 - tsc if you could i'm trying to log into this so if you could log me into the meeting and then give 00:00:54.560 --> 00:01:00.720 - me the ability to share that way i can try to keep up with him as he moves along so the 00:01:00.720 --> 00:01:24.800 - people at home can follow you promote charlie as well 00:01:24.800 --> 00:01:28.880 - uh 00:01:28.880 --> 00:01:42.880 - you've been made a presenter 00:01:42.880 --> 00:01:49.840 - good afternoon this is charlie can you guys hear me 00:01:52.880 --> 00:02:00.960 - just fine all right can i share my screen is that possible or or jeff will you 00:02:00.960 --> 00:02:06.640 - do that um if you if they can give you the ability i seem to be having trouble getting 00:02:07.440 --> 00:02:29.200 - in all right how about that can you see my screen it should show the curry profile tiff district 00:02:29.200 --> 00:02:37.280 - report yes okay perfect i'll start with that one if that's okay and we'll just go through 00:02:37.280 --> 00:02:45.360 - these um alphabetically and i'll kind of hit the highlights and if um anybody has a question or 00:02:45.360 --> 00:02:57.680 - wants to go into more detail uh we can do that okay so um curry profile we did on the old ge 00:02:57.680 --> 00:03:06.000 - property um is basically what that area entails um and if we go to page three we've got a little 00:03:06.000 --> 00:03:14.080 - bit of a summary here um we authorized six million one hundred and seventy five thousand of tiff 00:03:14.080 --> 00:03:14.560 - bonds 00:03:14.560 --> 00:03:22.880 - um to help finance the project there um this unfortunately kind of got caught up in the time 00:03:22.880 --> 00:03:28.400 - of covid and there were some other delays there and really there hasn't been a lot of new 00:03:28.400 --> 00:03:29.040 - development 00:03:29.040 --> 00:03:36.480 - there and the developer has only drawn a hundred and three thousand two hundred dollars on that tiff 00:03:36.480 --> 00:03:43.920 - bond so we authorized over six million they they didn't draw that um we've started to pay that back 00:03:43.920 --> 00:03:51.200 - because there has been some tiff revenue there and we have about fifty two thousand dollars 00:03:51.920 --> 00:04:01.360 - left to pay on the bonds so if we um i'll go to that um here's our debt service schedule 00:04:01.360 --> 00:04:09.520 - it's two and a half percent the bonds were issued in 2018 um fifty two thousand is what's remaining 00:04:09.520 --> 00:04:16.640 - we'll we pay that as much pay that down as much as we can um with the tiff revenue that does come 00:04:16.640 --> 00:04:16.800 - in 00:04:18.320 --> 00:04:26.400 - and we do pay interest on those bonds and i'll skip to this page this is our cash flow 00:04:26.400 --> 00:04:33.840 - all the tiff revenue goes into the county fund 4934 so we've gotten about twenty five thousand 00:04:33.840 --> 00:04:41.520 - dollars um in 23 and 24 for tiff revenue and then the the claims there the majority of that 00:04:42.080 --> 00:04:49.200 - is for debt service on the bonds so we've got a five thousand dollar balance we've kind of said 00:04:49.200 --> 00:04:54.800 - that's our minimum that we want to keep in there just in case we have some expenses we don't expect 00:04:54.800 --> 00:05:03.760 - and then i'll go down you can see the assessed value in 22 it was a million 480 that we captured 00:05:03.760 --> 00:05:10.960 - just about the same in 23 and 24 and we've had a little bit of growth in 25 so almost three million 00:05:10.960 --> 00:05:19.520 - dollars of assessed value um captured for 25 that's going to bring in based on the 25 tax rate 00:05:19.520 --> 00:05:19.760 - about 00:05:19.760 --> 00:05:26.400 - forty six thousand dollars so probably not enough to pay the bonds off totally but we're going to 00:05:26.400 --> 00:05:36.560 - be real close to getting those paid off if not in 25 then in 26 so that's kind of the highlights on 00:05:36.560 --> 00:05:45.920 - curry profile are there any questions on that report yes once we pay off this bond 00:05:45.920 --> 00:05:56.080 - there is nothing else planned in terms of improvements so any collections we would 00:05:56.080 --> 00:06:04.480 - get would then become excess probably because there's no plan for them so does it make sense 00:06:04.480 --> 00:06:13.840 - to pay off this bond or keep this bond open for a while give us some options for using the accumulating 00:06:13.840 --> 00:06:25.840 - tiff revenue on other projects like curry pike that is a great question um and part of it would 00:06:25.840 --> 00:06:33.920 - be up to the developer so they they own the bond and they could draw on it if there was something 00:06:33.920 --> 00:06:40.800 - going on out there but i i do think what you said makes the most sense to pay this off and then 00:06:40.800 --> 00:06:48.400 - the rdc could decide if you would keep it open and we would have to make sure that the 00:06:48.400 --> 00:06:55.600 - authorizing documents allow for the money to be spent on those other projects so you know that 00:06:55.600 --> 00:07:02.080 - that would be the the discussion there and i think the developer we would want to include in those 00:07:02.080 --> 00:07:07.920 - discussions to make sure what their project you know are they truly gone as far as they can go 00:07:07.920 --> 00:07:14.320 - or want to go on that or you know what is their plan going forward i would say that unlike our 00:07:14.320 --> 00:07:20.800 - west the west side tiff this this tiff would not end with when that bonds paid off right so in the 00:07:20.800 --> 00:07:27.040 - west side tiff if we pay off the 2015 bond that kind of and if all the bonds are paid off then 00:07:27.040 --> 00:07:31.580 - that tiff district would end and that's because it when it was established and then the rules 00:07:31.580 --> 00:07:32.080 - changed 00:07:32.080 --> 00:07:39.760 - prior to 2015 and then we had we issued a bond to to kind of set the life of that and that life is 00:07:39.760 --> 00:07:47.040 - set with the same time period as that bond this one we could get rid of the bond and i would say 00:07:47.040 --> 00:07:52.800 - i know the developer and i and this is no way trying to disparage the developer but in a 00:07:52.800 --> 00:07:58.800 - hypothetical situation if you closed out the bond then there would be no ability to get the rest of 00:07:58.800 --> 00:08:05.200 - that six million dollars out and in terms of projects and then you could add i'd have to 00:08:05.200 --> 00:08:10.000 - relook at what's currently in that tiff but you could add certainly add that part of that curry 00:08:10.000 --> 00:08:15.600 - pike project because it's right alongside of it to the tiff plan for the curry profile and 00:08:15.600 --> 00:08:21.440 - then you could use the money for that i mean we could i guess my feeling is that if we're going 00:08:21.440 --> 00:08:25.920 - we're going to get close to paying it off next year maybe we should look at you know the tiff 00:08:25.920 --> 00:08:33.040 - plan and then maybe adding the curry profile to it to help fund that project is that a boundary 00:08:33.040 --> 00:08:39.840 - extension or just a document extension as far as it would just be adding projects to to the current 00:08:39.840 --> 00:08:45.520 - geographically it's surrounded by the by the website tiff so i don't think you could expand 00:08:45.520 --> 00:08:51.280 - the boundaries of it but it would be adding projects to the to the list essentially that would have 00:08:51.280 --> 00:08:51.440 - an 00:08:51.440 --> 00:09:00.480 - overlapping ability to pay from two particular tips if necessary i think that i think for the most 00:09:00.480 --> 00:09:01.200 - part 00:09:01.200 --> 00:09:06.400 - most a lot of the curry pike you can say is physically connected or serves that property 00:09:06.400 --> 00:09:12.590 - and so that's kind of the the benchmark i think if you get if you get south of third street that 00:09:12.590 --> 00:09:12.800 - may 00:09:12.800 --> 00:09:18.720 - become more of an issue or north and there's geographics where you it's it becomes harder 00:09:18.720 --> 00:09:24.640 - to make that discussion but i think at least for that part that's close to that i think it's easily 00:09:24.640 --> 00:09:30.640 - said to be connected to that project that's discussions needs to be had with the developer 00:09:30.640 --> 00:09:37.680 - accordingly to how once we pay it off here a year and a half from paying i think once one i want 00:09:37.680 --> 00:09:37.680 - and 00:09:37.680 --> 00:09:41.760 - i think we can't have it with the developer but i think once the bond's paid off you don't have to 00:09:41.760 --> 00:09:46.560 - right i mean given that they're the sole property owner for this tiff district it makes a lot of 00:09:46.560 --> 00:09:49.920 - sense to keep them in the loop and make sure that they're comfortable with what we're doing 00:09:49.920 --> 00:09:56.000 - so i'm not saying you shouldn't i'm just saying it's not necessarily a requirement it's a good idea 00:09:56.000 --> 00:10:01.600 - is that good something of that nature if we look at it in the next 00:10:01.600 --> 00:10:05.680 - two to five years does that assist the highway department in their budgeting for that 00:10:10.960 --> 00:10:17.280 - that's that's basically we broke it into three segments to be able to afford it not put so much 00:10:17.280 --> 00:10:25.840 - strength allocated it definitely helps everybody yeah because they're also alongside it and a 00:10:25.840 --> 00:10:32.960 - beneficiary of in a way of those improvements right even though they're included in it i mean 00:10:32.960 --> 00:10:40.080 - it's twofold i guess right they're they're part of it and there'd be the a beneficiary of of the 00:10:40.080 --> 00:10:46.720 - improvements yeah at this present moment moving forward on that we know based on the financial 00:10:46.720 --> 00:10:53.040 - analysis here we're a year around a year year and a half to get it paid off but that gives time to 00:10:53.040 --> 00:10:59.680 - have discussions with the developer and then add projects in if need be so we can move forward 00:10:59.680 --> 00:11:06.240 - move forward allocate right yeah and our highway department can determine if there's anything else 00:11:06.240 --> 00:11:14.160 - that would serve this property as well that i can't think of any but you know it's you'd ever know 00:11:14.160 --> 00:11:20.800 - and we don't have to worry about sun setting if it's paid correct okay we still yeah 00:11:20.800 --> 00:11:23.860 - thank you 00:11:23.860 --> 00:11:29.680 - all right any other questions on curry profile 00:11:32.720 --> 00:11:38.800 - oh yeah one quick question on that when we say we only they've only drawn about 103 000 on that 00:11:38.800 --> 00:11:45.680 - that's just the amount that we have that once we pay back the 103 that bond is closed well we in 00:11:45.680 --> 00:11:51.440 - discussions with the with the property owner that that that is their desire is to get that paid off 00:11:51.440 --> 00:11:57.600 - and then close out that bond that is what what they have requested from us and that 103 dollars 00:11:57.600 --> 00:12:06.000 - or 103 000 essentially was the closing cost of the bond itself so none of that or if any of that it's 00:12:06.000 --> 00:12:11.200 - very little went into actual projects and they did do quite a bit of work on the site 00:12:11.200 --> 00:12:17.680 - well i mean legally assessed value increase yeah yeah increase shows that 00:12:20.800 --> 00:12:32.320 - okay that sounds good let's move on to fullerton pike um same kind of thing you guys are familiar 00:12:32.320 --> 00:12:39.760 - with our reports um there's a lot of information here i won't go through every page of that um 00:12:39.760 --> 00:12:48.640 - this um this situation uh with our tax rate i do want to point that out that 00:12:49.200 --> 00:12:56.400 - the tax rate has been declining for the last several years um and also point out that this 00:12:56.400 --> 00:13:03.680 - particular area is in the Monroe county school district they've got two referendum tax rates 00:13:03.680 --> 00:13:12.640 - that are included in the total but we do not get to capture those so um very steady decrease 00:13:12.640 --> 00:13:22.160 - in in tax rate um which impacts our tiff revenue the second page here is our cash that we've got 00:13:22.160 --> 00:13:31.920 - at the county level um it's fund 4922 um we've had a pretty consistent cash balance year to year 00:13:31.920 --> 00:13:40.480 - on this one at the end of 24 we had just over 566 thousand dollars of tiff revenue in there 00:13:42.160 --> 00:13:47.520 - we don't produce a lot of tiff out there right now it's been pretty steady at about 150 thousand 00:13:47.520 --> 00:13:57.040 - but we do have a large bridge project um going on uh that we've funded some from our tiff 00:13:57.040 --> 00:14:03.280 - but it's also you know the bulk of the funding has come from the county major bridge fund 00:14:03.280 --> 00:14:11.760 - and then the county did a bond issue to to pay for um the remainder that we couldn't pay from cash 00:14:12.640 --> 00:14:21.520 - so we would expect this 566 thousand plus whatever tiff revenue we bring in this year 00:14:21.520 --> 00:14:25.120 - to go towards completing that big bridge project 00:14:25.120 --> 00:14:36.560 - here's our assessed value that we've captured um like i said it's been pretty consistent 00:14:37.120 --> 00:14:43.680 - and you can see that tax rate going down and um when we remove those referendum rates it's a it's 00:14:43.680 --> 00:14:50.720 - really a very low tax rate that we capture out there so with that i'll wrap fullerton 00:14:50.720 --> 00:15:03.600 - pike up and ask for any questions on that area okay um when i look at the analysis of cash and 00:15:03.600 --> 00:15:17.760 - investments i look at mounted if settlement that grow across and i look at the historical assessed 00:15:17.760 --> 00:15:26.880 - value and annual tax increment how come the tiff numbers don't match up sometimes they're close 00:15:28.000 --> 00:15:35.680 - yeah and that's a great question we we get yeah we get some things we get some reimbursements back 00:15:35.680 --> 00:15:46.080 - sometimes um and i think in that line um you can see for 24 we've got 16 000 reimbursements in 00:15:46.080 --> 00:15:46.320 - there 00:15:46.320 --> 00:15:54.480 - and i think we probably need to review 2023 and see if we didn't have something put into the wrong 00:15:54.480 --> 00:16:02.160 - fund at the county level that we got create uh fixed in 2024 so we we need to pull the detail 00:16:02.160 --> 00:16:10.720 - out because you're right that 23 to 24 doesn't look um normal on the tiff revenue and i'm 00:16:10.720 --> 00:16:19.280 - wondering if because 24 is considerably higher whether we ended up with part of the 23 tax 00:16:19.280 --> 00:16:26.400 - actually being deposited in the 24 calendar year yeah that's definitely what it looks like 00:16:26.400 --> 00:16:34.320 - um and we'll look at that and make an amendment to this page as needed to to try to clarify that 00:16:34.320 --> 00:16:43.760 - better okay all right yep that was my big question there 00:16:43.760 --> 00:16:50.240 - there 00:16:50.240 --> 00:17:04.240 - where is my list of 00:17:04.240 --> 00:17:08.720 - uh 00:17:08.720 --> 00:17:24.960 - i thought this i don't think this map is correct 00:17:29.600 --> 00:17:36.400 - app is showing property north of fullerton pike is in this tiff and i didn't think this 00:17:36.400 --> 00:17:39.920 - tiff had any property north of fullerton pike 00:17:39.920 --> 00:17:49.120 - i think the answer to that is when it was initially conceived it did and then the city annexed the 00:17:49.120 --> 00:17:55.120 - properties that are north of fullerton pike right so they're kind of in a limbo area where they are 00:17:55.120 --> 00:18:01.280 - low area where they we can't collect from them i'll have to check the statute whether that removes 00:18:01.280 --> 00:18:08.800 - them from the tiff or not and if it does we'll we'll mend the map but that that is those areas 00:18:08.800 --> 00:18:13.920 - i know have been annexed yes that's what i thought they've been annexed is that the bill c brown 00:18:13.920 --> 00:18:24.800 - property yeah that's what i thought just to clarify that we're not collecting revenues from that 00:18:24.800 --> 00:18:31.120 - particular parcel at the present moment we need we're gonna have to check it could be no we 00:18:31.120 --> 00:18:36.480 - shouldn't be okay the question is whether just because you're not whether that that means it's 00:18:36.480 --> 00:18:42.000 - totally removed from the tiff area in which case we could remove it from our map or whether by some 00:18:42.000 --> 00:18:49.600 - reason it's still in that tiff area in a tiff but it's no good to us non-revenue producing my 00:18:49.600 --> 00:18:54.560 - assumption is that it gets removed and that we should take that off the map okay is that the the 00:18:54.560 --> 00:19:02.480 - parcel under the bill c brown trustee okay so we're showing it right payable but it should not 00:19:02.480 --> 00:19:11.360 - reflect next year right is that that property was annexed years ago okay okay so it's just a matter 00:19:11.360 --> 00:19:16.880 - when we update we need to update the map assuming that it is excluded and i'll confirm that we just 00:19:16.880 --> 00:19:23.760 - need to update that that's okay because we've got some parcels in our real estate name that are 00:19:23.760 --> 00:19:24.080 - saved 00:19:24.080 --> 00:19:31.760 - bill c brown and so the value of those is actually included in our assessed value so i think he 00:19:31.760 --> 00:19:32.080 - does 00:19:32.080 --> 00:19:39.680 - own some south of 46 as well or of fullerton pike as well so he is some of the i think some of this 00:19:39.680 --> 00:19:47.520 - area he owns there must be the smaller properties given the kind of relatively small number 00:19:47.520 --> 00:19:53.440 - that's right because they discussed putting the jail on that site one time yeah that's right that's 00:19:53.440 --> 00:20:02.640 - right i just think this ought to get cleared up because we've got we have what two four six eight 00:20:02.640 --> 00:20:09.440 - there are 12 properties listed but if i count the number of parcels that are below fullerton pipe 00:20:09.680 --> 00:20:10.800 - i don't get that many 00:20:10.800 --> 00:20:16.400 - you'd look at the two coincide 00:20:16.400 --> 00:20:24.560 - okay which is exactly what their report says we ought to do yeah 00:20:24.560 --> 00:20:35.280 - okay so we'll work with jeff and the auditor's office to make sure we get the parcel list 00:20:35.280 --> 00:20:44.640 - updated and the map updated so that we reflect the current situation okay uh that's two down 00:20:44.640 --> 00:20:52.640 - you want to do which one next one question just to make sure the revenue that's going in that'll go 00:20:52.640 --> 00:20:58.480 - to the bridge project and that will be funded completely by the end of this year or will we 00:20:58.480 --> 00:21:08.000 - have additional revenues that'll be having to be paid out in the future out of we will use 00:21:08.000 --> 00:21:18.560 - and lisa can talk about the project but we will use revenue to pay some portion of the debt service 00:21:18.560 --> 00:21:25.280 - on the bonds the county issued for the project so there there will be a commitment for future tiff 00:21:25.280 --> 00:21:32.480 - revenue to some extent not for the full payment on the bonds but to to help satisfy those debt 00:21:32.480 --> 00:21:38.960 - service payments annually and i would the bond documents indicate that the we would make sure 00:21:38.960 --> 00:21:47.440 - that at least 50 percent of the tiff revenue is available for payment of that those we did a 00:21:47.440 --> 00:21:58.240 - resolution to that account yeah and i think and yeah yeah yes at least 50 but the resolution that 00:21:58.240 --> 00:22:03.520 - allows that means you could actually pay more if necessary or if you if the revenue increased 00:22:03.520 --> 00:22:10.240 - and that way that would retire that cost and free up additional revenue in the future 00:22:11.040 --> 00:22:18.320 - and i would just say that the the the tiff's portion of that bond payment is minuscule 00:22:18.320 --> 00:22:29.600 - compared to with me i mean it's a pretty expensive bridge we're being helpful but in a minor way 00:22:32.400 --> 00:22:40.320 - everything helps yeah so i don't i don't think you're you could end it early even if we gave 100 i 00:22:40.320 --> 00:22:51.840 - guess yeah yeah okay what's next all right state road 46 and we'll go through this kind of the same 00:22:51.840 --> 00:23:01.920 - way this is very similar to curry profile where we authorized a 4.5 million dollar bond but the 00:23:01.920 --> 00:23:10.240 - developer has only drawn in this case 61 500 so again there's an idea there's a project out there 00:23:10.240 --> 00:23:19.360 - the county wanted to assist the developer with that we've we've done so and since that time we've 00:23:19.360 --> 00:23:27.680 - we've been in a holding pattern so we we're ready to go that there's also a large project out there 00:23:29.440 --> 00:23:35.760 - we've built and here's our we're paying four percent on that so a thousand two thirty is 00:23:35.760 --> 00:23:43.440 - interest every six months that we pay on the bonds our cash balance at the county level 00:23:43.440 --> 00:23:51.920 - we've continued to grow that so we're up to almost 1.8 million at the end of 2024 00:23:53.200 --> 00:24:00.320 - and that's to help pay for that big project that lisa has been planning out there 00:24:00.320 --> 00:24:09.440 - well and maybe add a little more maybe add a little more context we had a conversation with 00:24:09.440 --> 00:24:15.520 - steve krater today who is the developer they are planning they're still planning on doing the 00:24:15.520 --> 00:24:22.240 - the roadway this year they are waiting for and they've been waiting for like nine to ten months 00:24:22.240 --> 00:24:27.840 - on a what are called a lomar permit land of map revision 00:24:27.840 --> 00:24:35.040 - oh he still anticipates getting that road with hunter valley completed this year 00:24:35.040 --> 00:24:43.120 - okay but cannot move forward until he has a permit is a long process it's new in the 00:24:43.120 --> 00:24:51.360 - last couple years um for fullerton pike phase three it took probably over a year to get that permit 00:24:51.360 --> 00:25:02.880 - through idem so here is my question this says we've got a million seven hundred and eighty four 00:25:02.880 --> 00:25:18.800 - thousand in the bank and if i look at estimated annual tax increment for this year through twenty 00:25:18.800 --> 00:25:33.120 - twenty nine added to that one seven million seven i end up with three million roughly three million 00:25:33.120 --> 00:25:45.200 - five hundred thousand dollars so where does how do we end up paying back four and a half million if 00:25:45.200 --> 00:25:55.920 - we've only got three and a half million to work with so we if if we do put that money in or the 00:25:55.920 --> 00:26:02.960 - developer puts that money in for the road the assumption is that new assess value new development 00:26:02.960 --> 00:26:12.800 - will occur and that will increase the tif revenue so this we have not made any projections at this 00:26:12.800 --> 00:26:19.920 - point in time on what those increases in assess value might be just because we we're not sure what 00:26:19.920 --> 00:26:25.920 - the developer's plan was or how soon that that might happen because it'll take some time to get 00:26:25.920 --> 00:26:32.000 - the road done and then it'll take even you know more time to get buildings built and then more 00:26:32.000 --> 00:26:37.760 - time to get them assessed and and finally pay tax on on the new building so there there it is a 00:26:37.760 --> 00:26:38.080 - long 00:26:40.000 --> 00:26:47.040 - cycle to to increase those tif revenues so that that's the key and that the the bonds if i go back 00:26:47.040 --> 00:26:59.520 - to that schedule the bonds were are outstanding see all the way to 2033 so that was the original we 00:26:59.520 --> 00:27:05.840 - we would have to go back and maybe that's a discussion with the developer when we look at 00:27:05.840 --> 00:27:14.080 - their build out that that may not be enough time to pay the bonds back and i i think jeff correct 00:27:14.080 --> 00:27:19.920 - me if i'm wrong i think that is the end date on the on the area as of now yeah i think that's how 00:27:19.920 --> 00:27:29.120 - we structured it and and i guess my my my response would be twofold one is the end of this tif is 00:27:29.120 --> 00:27:29.280 - not 00:27:29.280 --> 00:27:35.600 - in 2029 but my other would be you know that that was the deal going into it is that we would use 00:27:35.600 --> 00:27:40.640 - the tiff we had available to make payments and if we could not make the payments and the developer 00:27:40.640 --> 00:27:46.720 - was on the hook for any extra payments necessary so what's the motivation for steve to actually 00:27:46.720 --> 00:27:50.000 - do this project if he's going to get stuck for a million dollar bill 00:27:50.000 --> 00:27:59.600 - but one i think he's required to under the the pud that's in the area so he's required this road 00:27:59.600 --> 00:28:06.560 - is a required build for him under that so even if he got reimbursed you know three out of the 00:28:06.560 --> 00:28:14.080 - four million he still got three more million than he would if he if he didn't do it and the second 00:28:14.080 --> 00:28:21.920 - is i i think there's ample time for there to be development that would push us from three million 00:28:21.920 --> 00:28:29.600 - to four and a half um if and if the when when did you say the bond ended i'm sorry 00:28:29.600 --> 00:28:40.080 - february of 23 33 sorry so yeah take another three years on this then you're up another million so 00:28:40.080 --> 00:28:48.720 - you're at four and so that half a million dollar difference is is where you're really at because i 00:28:48.720 --> 00:28:58.080 - think the repayment schedule goes until but i'm trying what i mean so we we put a jail on the new 00:28:58.080 --> 00:29:05.360 - road we're building right but since that's a municipal thing it doesn't give us any money 00:29:05.360 --> 00:29:16.480 - right and the question is where else he's been doing building on the south side we got a new one 00:29:16.480 --> 00:29:26.960 - coming online soon for um yeah right um but he has shown really no interest in developing 00:29:26.960 --> 00:29:33.680 - anything on the north side of there and i'm trying to figure out how we provide sufficient 00:29:33.680 --> 00:29:34.400 - incentive 00:29:34.400 --> 00:29:42.960 - for to actually do something there which would give us a considerable increase in assessed value 00:29:43.520 --> 00:29:50.160 - particularly since this is going to end in 33 and that would effectively give us 00:29:50.160 --> 00:29:57.840 - nine years of tiff money which is not very much for a big bond that would put in a lot of roads 00:29:57.840 --> 00:30:05.840 - for example or a sewer system in that big open area part that he's got so i'm having trouble 00:30:05.840 --> 00:30:10.800 - figuring out how this becomes a viable thing for him to really put his teeth into 00:30:13.040 --> 00:30:17.520 - and i'm not steve i'm not him so i can't answer it but i think i would say that 00:30:17.520 --> 00:30:24.640 - the roadway that's there currently has a sewer underneath it from the plant and so 00:30:24.640 --> 00:30:33.360 - you know a lot of that infrastructure is there he has a lot of sunk costs into this area already 00:30:33.360 --> 00:30:39.040 - because the this is the second time we've done a bond with him and the first one we didn't 00:30:39.600 --> 00:30:46.560 - we couldn't he's currently going through amending the pud to make it more amenable 00:30:46.560 --> 00:30:53.200 - develop and so i think there's a lot of other factors going on in there i also think that 00:30:53.200 --> 00:31:01.840 - developing the land with or without now or in the future is always going to be his best 00:31:01.840 --> 00:31:10.000 - it is going to be in his interest that's available to him 00:31:10.000 --> 00:31:20.800 - why is the amount of tiff money we can put into the development of that area and i see us just 00:31:20.800 --> 00:31:26.320 - losing opportunities as we go on here just as we have in the past and that's 00:31:28.960 --> 00:31:32.320 - there's no way to incentivize accordingly because he's already bought the bonds and 00:31:32.320 --> 00:31:38.640 - we're required to make the payments accordingly we just may not be able to and it's his 00:31:38.640 --> 00:31:45.280 - at his at steve's jeopardy in regards to if it's unable then it's responsibility to take care of 00:31:45.280 --> 00:31:48.560 - we've done everything well pretty much everything we can 00:31:48.640 --> 00:31:50.640 - uh 00:31:50.640 --> 00:32:03.920 - oh the the revenues that this tiff would typically have that would have had you know i think logan 00:32:03.920 --> 00:32:07.760 - land development in there what kind of revenues are being lost in this now that we're under 00:32:07.760 --> 00:32:15.520 - municipal ownership i don't i don't know off the top of my head i don't think it's undeveloped 00:32:15.520 --> 00:32:22.080 - so it would be at a it wouldn't be at a huge success value yeah it will be a decrease in our 00:32:22.080 --> 00:32:28.480 - overall revenues that have been produced over the period over the past periods oh yeah especially 00:32:28.480 --> 00:32:37.360 - given the price which is now you know that's it that's the value of the land without improvement 00:32:43.600 --> 00:32:49.680 - da that's going in is that going to be into a non-taxable situation or is that a taxable 00:32:49.680 --> 00:32:59.520 - property itself my understanding and i i got i got this information from talking to one of the 00:32:59.520 --> 00:33:06.160 - people who are also bidding on the project and apparent and according to him and i can't remember 00:33:06.160 --> 00:33:14.640 - if it's him a kind of requires it to be taxable right so i i understand i think it would private 00:33:14.640 --> 00:33:23.120 - owner leasing it to the va okay is that true is that actually true i didn't know that 00:33:23.120 --> 00:33:31.440 - the private owner is leasing it back to the va that is my to the best of my knowledge yes 00:33:31.440 --> 00:33:37.840 - kind of like pain enterprise has released it back to heavy tech and now they heavy tech owns it i 00:33:37.840 --> 00:33:45.760 - the nursing training facility for the license ranch building for their own curry right that's 00:33:45.760 --> 00:33:53.120 - yeah privately held yeah i think so the question we're trying to identify or try to identify as a 00:33:53.120 --> 00:33:58.960 - matter of as we look in two years down the road from a assessed value situation we're trying to 00:33:58.960 --> 00:34:05.840 - capture in the tiff prior to the sun setting that we have those revenues and will it be a non-taxable 00:34:05.840 --> 00:34:13.200 - situation or not based upon the parcels that we have there approximately what between the 00:34:13.200 --> 00:34:20.320 - arc and the new jail site were 100 plus acres right 00:34:20.320 --> 00:34:25.280 - we're on the hook 00:34:25.360 --> 00:34:35.890 - yeah thank you i would just say you're probably at more of 60 to 70 developer acres because a lot 00:34:35.890 --> 00:34:36.240 - of 00:34:36.240 --> 00:34:43.520 - that quarry park area is not developed yeah yeah i'm just looking at the aggregate amount yeah what 00:34:43.520 --> 00:34:50.960 - what what revenue will we losing that will have that could have been put in it's i think the 00:34:50.960 --> 00:34:56.640 - increment yeah jeff you got a good point but i think the increment on the improvements would be 00:34:56.640 --> 00:35:03.600 - considerable if they were commercial properties i think that's what oh yes yeah and and that's 00:35:03.600 --> 00:35:11.680 - where the question comes in okay how much are we losing out of that and you know if we go by the 00:35:11.680 --> 00:35:19.440 - the schedule of the jail then you're looking on four years maybe maybe five things happen 00:35:19.440 --> 00:35:31.120 - um that um would be kind of in my mind questionable in terms of um have a revenue successfully 00:35:31.120 --> 00:35:31.440 - closing 00:35:31.440 --> 00:35:42.480 - out the bond so the call we talked about splitting this district creating another tiff district 00:35:43.920 --> 00:35:51.600 - which would be be able to extend that tiff district's life beyond 00:35:51.600 --> 00:36:00.560 - what we would do what we did and charlie chime in wherever i'm mistaken but i think we would do the 00:36:00.560 --> 00:36:05.300 - same process we did with the curry profile where we would carve it out of one tiff district and 00:36:05.300 --> 00:36:05.440 - then 00:36:05.440 --> 00:36:12.640 - create a new tiff's district um you would and when you do that it would have the the standard and i 00:36:12.640 --> 00:36:19.520 - think of residential tiffs or 20 years maximum so that you'd have a 20 year tiff district for that 00:36:19.520 --> 00:36:28.080 - right so i mean this point and you'd also want to do it for areas that hadn't been developed yet 00:36:28.080 --> 00:36:35.520 - right because once the building's there you don't get increment on it if it's already existing 00:36:35.520 --> 00:36:41.280 - so you would look at that and you could still carve that out and give it the whole new 20 year 00:36:42.480 --> 00:36:48.000 - cycle i think commercial you can go up to 25 but but residential is a 20 year cycle 00:36:48.000 --> 00:36:54.890 - add land that was not well i think we broached that before we could then add property so that one 00:36:54.890 --> 00:36:55.200 - chunk 00:36:55.200 --> 00:36:58.960 - which is uh 00:36:58.960 --> 00:37:09.760 - originally could be added into a residential tiff correct at that point that's another 00:37:11.440 --> 00:37:14.640 - yes 00:37:14.640 --> 00:37:17.840 - questions about 00:37:17.840 --> 00:37:28.000 - okay on to the biggie all right biggest for last we'll go to the west side 00:37:28.000 --> 00:37:32.880 - and again i'll kind of skip through this 00:37:35.760 --> 00:37:42.560 - we have this the same situation here we've had nice decreases in tax rates 00:37:42.560 --> 00:37:51.440 - we do have a few parcels in this area that the city annexed that we do still get to capture our 00:37:51.440 --> 00:38:00.240 - non-city part of the tax rate and that was we get to do that because we had bonds outstanding 00:38:00.240 --> 00:38:07.120 - when the city did that annexation so we've we've got that we've got two bonds left 2020 00:38:07.120 --> 00:38:16.080 - bonds that go out to 2039 and then we've got some 2015 bonds that also go out to 2039 so 00:38:16.080 --> 00:38:24.080 - at that point that's when this west side tiff district will expire on those final 00:38:24.080 --> 00:38:32.960 - payment dates for each of those bonds here's our combined debt service and in 2025 we're paying 00:38:32.960 --> 00:38:42.480 - about almost 700,000 between the two bonds almost 2.4 million a tiff revenue so excellent coverage 00:38:42.480 --> 00:38:49.600 - debt service coverage these bonds are backed by the county so that if there were to be a 00:38:50.160 --> 00:38:54.720 - deficiency in the tiff revenue and we didn't have any other revenue to use for debt service 00:38:54.720 --> 00:39:03.520 - we would levy a property tax to make up the difference so we want to make sure we we have 00:39:03.520 --> 00:39:13.840 - cash to make our our bond payments we've got a lot of historical information here we have debt 00:39:13.840 --> 00:39:19.680 - service reserves for both bond issues that are held by old national bank they're the trustee 00:39:19.680 --> 00:39:26.640 - for the bonds so i've got some details there and then we've got the big county level tiff fund 00:39:26.640 --> 00:39:35.760 - just like we looked at the the first three and historically we we've had a good cash balance here 00:39:35.760 --> 00:39:44.560 - when we get to 2024 we really because we've got some large projects that we've been working on out 00:39:44.560 --> 00:39:54.080 - there that balance went down to 347,000 at the end of 24 and we've spent some money primarily for 00:39:54.080 --> 00:39:54.400 - the 00:39:54.400 --> 00:40:01.600 - the lease payment on the new fire truck that's dropped that balance down in 25 to to 83,000 and 00:40:01.600 --> 00:40:08.470 - we're really in a holding pattern there on spending until we get our june settlement of tiff 00:40:08.470 --> 00:40:09.040 - revenue 00:40:12.320 --> 00:40:19.440 - and then probably the other page to focus on is the cash flow page 00:40:19.440 --> 00:40:26.560 - it's on page 26 and this has gotten to be very critical now because the cash balance has dipped 00:40:26.560 --> 00:40:33.760 - down so we've got a 25 column here with our cash balance we've got our estimated tiff revenue we're 00:40:33.760 --> 00:40:39.760 - going to get some federal funding in for part of the project we're finishing then we've got our 00:40:39.760 --> 00:40:47.840 - expenses our two bond payments our stem payment fire truck lease and then the the projects that 00:40:47.840 --> 00:40:56.160 - lease is working on and i think that the discussion we had after we sent this draft report out and 00:40:56.160 --> 00:40:56.240 - i 00:40:56.240 --> 00:41:03.120 - think lisa referenced this earlier would be we we would move back the starting point for curry pike 00:41:03.920 --> 00:41:12.000 - and not started in 25 move that back to 26 so that we can make sure we've got a comfortable 00:41:12.000 --> 00:41:18.560 - cash balance at the end of 25 so if we take that 650 out we should be over a million dollars 00:41:18.560 --> 00:41:26.160 - of cash balance at the end of 25 which would be much better in the overall scheme of things 00:41:26.160 --> 00:41:32.720 - because you you don't know what expenses might come up or a big taxpayer doesn't make their 00:41:32.720 --> 00:41:40.800 - property tax payment we have a delay in tiff revenues so we're glad that that lisa has been 00:41:40.800 --> 00:41:50.340 - able to accommodate that so those are the highlights i think on west side so any questions on that 00:41:50.340 --> 00:41:50.400 - on 00:41:50.400 --> 00:41:57.760 - those items what i'm hearing is we're trying to build back up our reserves in order to make sure 00:41:57.760 --> 00:42:02.880 - that we have the cover debt service coverage that's necessary in order to meet the financial 00:42:02.880 --> 00:42:10.960 - requirements of the and you know that's that's right um we we have a fully funded debt service 00:42:10.960 --> 00:42:17.040 - reserve for each one of those that are i don't show those in the county fund balance so we do have 00:42:17.040 --> 00:42:24.640 - an additional um one year of debt and we would not ever want to hit that reserve but we have that 00:42:24.640 --> 00:42:29.920 - there and the way the bond documents are set up is when we bring our tiff revenue in 00:42:29.920 --> 00:42:39.120 - the first set aside goes to those bond payments so um realistically i think we you know if we had a 00:42:39.120 --> 00:42:46.880 - problem we would probably be back to um lisa and say what else is there anything else we can delay 00:42:46.880 --> 00:42:57.360 - or um not do if if we if we came down to that but by moving curry pike back at least that helps us 00:42:57.360 --> 00:43:01.840 - bring back the cash balance just so we have a little more cushion if if there is something that 00:43:01.840 --> 00:43:06.720 - happens um you know i think the the biggest thing would be if a big taxpayer 00:43:06.720 --> 00:43:11.840 - delayed their payment or um you know we've seen that happen where they 00:43:12.960 --> 00:43:17.360 - well you know a lot of these big companies have tax departments somewhere else in the u.s and so 00:43:17.360 --> 00:43:17.840 - the 00:43:17.840 --> 00:43:23.120 - they mail their payment and we don't get it for 30 days late or something like that so 00:43:23.120 --> 00:43:27.520 - it's more of a timing delay than anything 00:43:27.520 --> 00:43:35.840 - anyway it goes we're not in any jeopardy by the balance being down to where it is 00:43:35.840 --> 00:43:42.400 - correct reserve situation that's sitting there okay correct that's that's good point yes 00:43:43.120 --> 00:43:46.080 - and i would say that that's not to be comfortable with where we're at 00:43:46.080 --> 00:43:53.280 - no it's just if we've got the backstop so if someone fails to follow through in the timely 00:43:53.280 --> 00:44:07.200 - manner we're still okay yeah for now yeah and i guess not to be too doom and gloom but our 00:44:07.200 --> 00:44:13.360 - agreements with ellisville for the fire truck and for the stem payments all have provisions in it 00:44:13.360 --> 00:44:19.760 - that says if we are unable to meet our bond payments and this the bond payments have priorities so 00:44:19.760 --> 00:44:28.240 - yeah i want to avoid exercising those clauses and and our complete backstop is an additional 00:44:28.240 --> 00:44:44.320 - property tax levy correct okay so we're moving the 650 000 to 26 750 000 to 27 00:44:44.320 --> 00:44:49.440 - which by then will be considerably more 00:44:52.080 --> 00:44:59.440 - problem with delaying is it cost more it is it is but that also helps us that curry pike has 00:44:59.440 --> 00:45:06.080 - drainage structures has sidewalks it has curbs it has a lot of infrastructure that needs replaced 00:45:06.080 --> 00:45:15.600 - gives us time to develop to develop a good project and helps get the cash back 00:45:18.560 --> 00:45:28.160 - we eliminated that we worked with the railroad and we doubt the price on that was extreme 00:45:28.160 --> 00:45:46.720 - and we also um i want to throw out there if there is an emergency or anything i still have funds 00:45:46.720 --> 00:45:53.120 - that i'm holding back in the local rodent street they'll have that as a backup so 00:45:53.120 --> 00:46:01.120 - other projects to get the ones we got going get completed then there will always be a little extra 00:46:01.120 --> 00:46:09.440 - cost um correct right now knock on wood we do not have any change orders for the rental pipe 00:46:12.080 --> 00:46:17.760 - um intermediate completion date is july and liberty drive trail we're getting ready to do 00:46:17.760 --> 00:46:24.720 - the punch list and walk through for that and that would have impact on the tiff 00:46:24.720 --> 00:46:34.000 - we said do you have a sense of where we are cost-wise on material let's say at the uh the 00:46:34.000 --> 00:46:43.280 - cross railroad crossing at vernal the new one and what's coming up with curry you know obviously 00:46:43.280 --> 00:46:48.080 - don't have numbers but do you have a rough estimate from what you see on price of material and 00:46:48.080 --> 00:46:59.280 - we usually get our benefit around here is we have to pay so we get good prices because they're 00:46:59.280 --> 00:47:06.800 - competitive against each other not everybody has that luxury so what we usually estimate comes out 00:47:06.800 --> 00:47:15.760 - really close to what the price that a lot of a lot of work i'm anxious to see how it comes out but 00:47:15.760 --> 00:47:24.480 - again the last few years right on and the price that we get for hiring out some of our paving and 00:47:24.480 --> 00:47:35.360 - everything super beneficial to Monroe County because five dollars a ton if we did it in-house 00:47:35.360 --> 00:47:43.200 - and that's saving our equipment that's saving our labor to keep other projects going as mowing 00:47:43.200 --> 00:47:51.680 - tree trimming everything else outside of paving because when we pave it's everyone paves everything 00:47:51.680 --> 00:48:00.640 - else stops but being able to be that close to what the fob price is and hiring it out you can't 00:48:00.640 --> 00:48:00.880 - beat 00:48:00.880 --> 00:48:09.200 - it it's it's very like i said we have two great paving contractors that provide good quotes and 00:48:09.200 --> 00:48:15.280 - bids and keep us in tact with our budget but that's great okay 00:48:18.560 --> 00:48:24.080 - okay do we have anything else for charlie i guess the question i always asked 00:48:24.080 --> 00:48:33.360 - ask ssg at this point is after reviewing all four of the of the tiff districts and looking through 00:48:33.360 --> 00:48:39.760 - the reports do you see what would your recommendation be for the you know kind of june 00:48:39.760 --> 00:48:46.160 - decision of the rdc as to whether there is any excess assessed value in any of the tiff districts 00:48:47.920 --> 00:48:55.280 - we believe there is no excess assessed value we've we've got the cash committed and the 00:48:55.280 --> 00:48:58.800 - the revenues for this year and then beyond and the west side's a 00:48:58.800 --> 00:49:05.440 - good example we need every dollar we can get you know we've got plenty of projects we need to do 00:49:05.440 --> 00:49:16.880 - i understand it this report has to go to the state is that correct we have to turn these in 00:49:17.600 --> 00:49:21.760 - we give it to the county council and and then we and then the county council 00:49:21.760 --> 00:49:29.360 - auditor puts it in the state system could we amend the west side 00:49:29.360 --> 00:49:39.680 - page 26 to move the funds for the curry pike construction to the right by one year 00:49:39.680 --> 00:49:45.360 - yes we can definitely do that and then i've got a couple of other 00:49:46.000 --> 00:49:52.880 - corrections that we talked about earlier so we'll get a revised set of reports down to jeff 00:49:52.880 --> 00:50:01.040 - this week still because we'd like to get those to the county council for their april meeting 00:50:01.040 --> 00:50:18.720 - so last minute none oh charlie thank you very much all right thank you all have a good rest 00:50:18.720 --> 00:50:26.880 - of the day thank you charlie could you guys give a motion that to submit these at as after the 00:50:26.880 --> 00:50:34.240 - amendments to the county council i will move that we submit these reports as amended 00:50:34.240 --> 00:50:38.160 - to the county council at its april meeting second 00:50:38.160 --> 00:50:49.680 - you want me to call the roll yep call the roll please commissioner martin yes commissioner 00:50:49.680 --> 00:50:59.600 - mccarty yes commissioner cassidy motion is approved three to zero next item on the agenda 00:50:59.600 --> 00:51:08.480 - are the minutes for our february 19th meeting uh them in the packet of information 00:51:08.480 --> 00:51:14.640 - actions or additions 00:51:14.640 --> 00:51:22.880 - to approve is present 00:51:22.880 --> 00:51:31.760 - there was second second i watched on cat since i wasn't here 00:51:31.760 --> 00:51:40.160 - jeff would you call the roll i will but i will just note that lisa rich actually prepared these 00:51:40.160 --> 00:51:45.040 - because i was at the late that's why they're that's why they look so good 00:51:45.040 --> 00:51:51.440 - you want to do the ones for this month too i was just looking at his scribbles i can't do that 00:51:51.440 --> 00:51:59.280 - commissioner martin yes commissioner mccarty yes commissioner cassidy yes motion is approved 00:51:59.280 --> 00:52:04.320 - three oh and i will include that the future minutes should always be done by the highway 00:52:04.320 --> 00:52:14.160 - department and next month's minutes just add that to our list okay claims uh we have claims this we 00:52:14.160 --> 00:52:22.320 - have two claims this month uh one from terracon consultants for 868 dollars and 95 cents and the 00:52:22.320 --> 00:52:32.560 - other one is our rbb csc stem payment for the fall of 2024 of 123,850 dollars and 61 cents 00:52:33.520 --> 00:52:43.280 - for a total of 124 cents the um we're a little bit late on getting the rbb one done because 00:52:43.280 --> 00:52:51.520 - we had to go back and adjust it for the spring payment that had been made and some 00:52:51.520 --> 00:52:58.720 - finagling we had to do to get our money squared away last fall this is now correct 00:53:00.160 --> 00:53:04.880 - and i would just note that this is actually being paid out of the general fund um through one of 00:53:04.880 --> 00:53:10.240 - the auditor's office's lines and then the we're having you approve it for when settlement comes 00:53:10.240 --> 00:53:18.160 - in we'll do a correction to put it into the 4920 west side tiff fund that will clean up the balance 00:53:18.160 --> 00:53:29.920 - in all funds correct to correct one about the terracon it just looked like this was inspection 00:53:29.920 --> 00:53:35.920 - for it it is it's for the msc wall that was constructed for the bernal pike 00:53:35.920 --> 00:53:46.080 - uh do i have a motion for approval i'll make a motion to approve as presented 00:53:46.720 --> 00:53:58.240 - second second for approval of the claims of uh terracon consultants for $868 and 00:53:58.240 --> 00:54:03.840 - sc stem payment for the fall of 2024 00:54:08.320 --> 00:54:20.080 - of 124 719 dollars and 56 cents commissioner martin yes commissioner mccarty yes commissioner 00:54:20.080 --> 00:54:38.640 - cassidy yes motion is approved three to zero 00:54:39.360 --> 00:55:04.480 - okay do we have any staff comments lisa um i don't i'm happy to answer any questions 00:55:04.480 --> 00:55:08.480 - construction kind of slows down in the winter april 1st is the contractor's date that 00:55:09.440 --> 00:55:19.600 - their time time uh the clock good i'm ready to uh i was driving through there the other day 00:55:19.600 --> 00:55:26.080 - and i recalled hey we were here a few years ago and we had a opening of that part of the profile 00:55:26.080 --> 00:55:32.640 - parkway and at the time i commented i wanted to get back to open up the bridge across the track 00:55:32.640 --> 00:55:45.440 - well i am i am ready i think that'll i think it'll also make repair work on curry pike much easier 00:55:45.440 --> 00:55:56.240 - to do um jeff anything else no i was just if i think i already expressed that we met with 00:55:56.240 --> 00:56:03.680 - mr krider about hunter valley road and so we're eagerly awaiting for that project to be started 00:56:03.680 --> 00:56:13.690 - and completed any more information about this jail thing happening not happening any kind of 00:56:13.690 --> 00:56:14.160 - timeline 00:56:14.160 --> 00:56:22.880 - idea well the timeline that i've seen has a opening in i think mid 2029 um i think the next 00:56:22.880 --> 00:56:28.000 - i don't have the timeline off the top of my head but i certainly could email it to you the the 00:56:28.000 --> 00:56:34.000 - timeline that's been shared with the council and commissioners on steps of when's when do we expect 00:56:34.000 --> 00:56:41.200 - the next uh i think there are at least two more before they start bid documents 00:56:41.200 --> 00:56:50.960 - they are currently working with departments and i mean i think the budget needs to be 00:56:52.320 --> 00:56:57.600 - the project needs to fit the budget and right now it's a little bit over so i think that's 00:56:57.600 --> 00:57:03.040 - something that needs to be worked out but i can get you the timeline i think 2029 is when it's 00:57:03.040 --> 00:57:11.440 - anticipated to be done or it's more than a jail it's just as complex it is a justice center yes 00:57:11.440 --> 00:57:15.680 - that's what i thought i'll make sure i got that terminology right because there's multiple more 00:57:15.680 --> 00:57:19.680 - than just a jail correct it's going to have the courts and all the court related functions which 00:57:19.680 --> 00:57:24.000 - would include the the jail okay i just i didn't think the parameters had changed i got nervous 00:57:24.000 --> 00:57:31.040 - no no parameters have not changed i think a clerk right clerk moving where it's clerk 00:57:31.040 --> 00:57:35.840 - the clerk of the courts the probation public defender prosecutor 00:57:35.840 --> 00:57:47.120 - yes i'm sure i'm missing some but essentially anything that's in the justice building which 00:57:47.120 --> 00:57:53.600 - has what a couple hundred employees i would say anything in the justice building in that block as 00:57:53.600 --> 00:58:04.000 - well as uh most of the oh community corrections building um and i think we do have some justice 00:58:04.000 --> 00:58:12.320 - staff and showers building um i 200 is low i would say just the sheriff's department and it's 00:58:13.840 --> 00:58:18.720 - sheriff's department by itself is probably closer to 150 and then the others i i would say a total 00:58:18.720 --> 00:58:25.120 - of probably 350 400 employees would be my guess little sheriff's department is planned to be out 00:58:25.120 --> 00:58:41.600 - there also correct but we just call it the law and order complex 00:58:41.600 --> 00:58:42.560 - uh 00:58:42.560 --> 00:58:52.640 - just clarify from a time frame saying you'll email it accordingly but completion in 2029 00:58:52.640 --> 00:59:03.120 - for everything jail will be prior to that or i i don't know i'm confused now the whole thing 00:59:03.120 --> 00:59:10.880 - is supposed to be done in 2029 right the the justice i mean it's it's all one building right 00:59:10.880 --> 00:59:15.040 - at this point with the design it's it's all one building so the whole thing is supposed to be 00:59:15.040 --> 00:59:21.840 - open in 2029 whether they get the jail done earlier or not i don't know which one i i think 00:59:21.840 --> 00:59:26.880 - it i think it's anticipated that the jail will take a little bit longer to actually construct 00:59:26.880 --> 00:59:35.600 - than the rest of it but i don't know i'm i'm not a scheduler of construction so i'm not i'm not 00:59:35.600 --> 00:59:46.000 - going to venture a guess on how they will manage that 2029 is okay i just assume i said the end of 00:59:46.000 --> 00:59:55.760 - 2029 uh commissioner's comments pucker did you have anything comment thanks 00:59:58.640 --> 01:00:06.400 - yeah just to latch on to that i've heard uh talk about possible commercial development uh in that 01:00:06.400 --> 01:00:13.440 - area that would um support all those jobs and um and that came from one of the commissioners 01:00:13.440 --> 01:00:23.760 - offline and at an event that uh this is um a possibility or it's being discussed i don't know 01:00:24.400 --> 01:00:30.960 - which would help a little bit you know with what we discussed earlier in that in that district um 01:00:30.960 --> 01:00:37.680 - i hope to see it because yeah you're basically moving a lot of the county seat into a new area 01:00:37.680 --> 01:00:44.960 - um a lot of jobs a lot of people in that area so um interesting to see how it turns out 01:00:44.960 --> 01:00:53.840 - the road extension i guess i mean i when i think about it just to clarify we're looking at 01:00:53.840 --> 01:01:00.400 - that we're still waiting for the permit for that and then that's a it's a new permit it's a new 01:01:00.400 --> 01:01:08.480 - permit right but they he still expects to have a complete pie year end is that that's that's pretty 01:01:08.480 --> 01:01:14.960 - much what his goal what he said today because he uh he stated that he had applied for the permit 01:01:14.960 --> 01:01:22.560 - it's been at least nine months so the problem with that permit is anytime it comes back to say a 01:01:22.560 --> 01:01:28.480 - contractor or an engineering firm they make review of it they make comments they get back with idem 01:01:28.480 --> 01:01:37.760 - idem in their process their their clock starts back at zero they're allotted another 60 or 90 days 01:01:37.760 --> 01:01:44.080 - to get it back to that so it's a back and forth and that's what seems to take the 01:01:44.080 --> 01:01:50.880 - the full year to get this permit he said he applied for it like nine months ago so 01:01:50.880 --> 01:01:56.240 - and and we offer to you know i i'm happy to reach out to my contact at idem that i worked with 01:01:56.240 --> 01:02:01.280 - with the fullerton pike and maybe he could see where it's at and what stage it's at but um 01:02:01.280 --> 01:02:06.320 - it's holding up a lot of permits i have some federal aid projects that's going through the 01:02:06.320 --> 01:02:11.680 - same process okay and it has to do with the floodplain basically and the rise that you do 01:02:11.680 --> 01:02:17.520 - in a floodplain so if it if you're the way i understand it is if your build is going to 01:02:17.520 --> 01:02:23.600 - change the rise at all within that floodplain and that would cause a map revision that has to 01:02:23.600 --> 01:02:34.000 - go through this process okay okay circle back around on our residential tiff just so i can 01:02:34.000 --> 01:02:40.160 - identify as we're we keep talking about them what is the procedural aspect that we would have to go 01:02:40.160 --> 01:02:47.920 - through to actually make one is it the legal aspect through the commissioners bring it through 01:02:47.920 --> 01:02:53.760 - redevelopment because you know we've talked about it but i'm trying to get my head around and just 01:02:53.760 --> 01:02:59.360 - for the public as a whole how that functionality would actually work where would we start and how 01:02:59.360 --> 01:03:07.120 - would that progress well i guess the start would we develop a plan right and then the plan would 01:03:07.120 --> 01:03:13.200 - come to the redevelopment commission and the redevelopment would preliminary approve 01:03:13.200 --> 01:03:19.490 - preliminarily approve that plan then it would need to be it would go to the county commissioners 01:03:19.490 --> 01:03:19.600 - and 01:03:19.600 --> 01:03:25.440 - the county plan commission the plan commission reviews it to determine whether it fits with the 01:03:25.440 --> 01:03:30.880 - county planning documents the commissioners review it for a kind of a broader scope of whether it's 01:03:30.880 --> 01:03:30.880 - a 01:03:30.880 --> 01:03:37.600 - good idea but could also certainly include the interpretation of the the planning ordinance and 01:03:37.600 --> 01:03:42.480 - then it would come back to the redevelopment commission for a public hearing and then at that 01:03:42.480 --> 01:03:48.720 - public hearing you have a public or from the the public you would then make a decision whether to 01:03:48.720 --> 01:03:59.200 - move forward or not so that's kind of the process uh it's uh i think we've done it in two to three 01:03:59.200 --> 01:04:07.280 - months before um but i think we had a probably a pretty developed plan at that point started the 01:04:07.280 --> 01:04:13.680 - meetings themselves take about two to three months because of all the bodies that have to look at 01:04:13.680 --> 01:04:13.840 - it 01:04:13.840 --> 01:04:20.480 - starting point of it is a private developer bringing something to us 01:04:22.880 --> 01:04:29.760 - what body would start that process because this body could start that yeah this body could say 01:04:29.760 --> 01:04:36.960 - here's the map here's what we want to do here we want to and depending on how detailed you 01:04:36.960 --> 01:04:44.400 - want it to be we want to include at roads here here and here or we just want to do this initial 01:04:44.400 --> 01:04:50.240 - road and we'll amend the plan later to include these others the more details the better of course 01:04:51.120 --> 01:04:56.480 - because then it gives the commissioners and the plan commission more more information on on their 01:04:56.480 --> 01:05:03.680 - decision process but it would start here whether a developer brings it to you or or this group on 01:05:03.680 --> 01:05:09.680 - its own does it i don't think we've ever had well i'm pretty sure the folton pike tiff did 01:05:09.680 --> 01:05:14.640 - not start with the developer the west side tiff did not start with the developer north park might 01:05:14.640 --> 01:05:23.520 - have or not north park state road 46 corridor might have um curry profile started with a developer 01:05:23.520 --> 01:05:31.840 - that's where starting as we pick the air an area that needs redeveloped essentially and it would 01:05:31.840 --> 01:05:37.840 - start at this i'm just trying to identify as we talk about this there has to be some expectation 01:05:38.720 --> 01:05:48.080 - that its development is actually possible going forward in the time frame of the tiff that we 01:05:48.080 --> 01:05:54.320 - would be creating 20 year time frame right well and i wish charlie was still on here but i think 01:05:54.320 --> 01:06:00.640 - there are options and i and i would defer to the people who set up these tips much more regularly 01:06:00.640 --> 01:06:07.360 - than i do where the clock doesn't start ticking until a bond is issued and i'm guessing there's 01:06:07.360 --> 01:06:11.760 - probably a time period there where you have to do it and or it starts clipping typically that's 01:06:11.760 --> 01:06:12.000 - like 01:06:12.000 --> 01:06:16.960 - a with a bond anticipation note they can only go up to five years so i i mean i guess my gut 01:06:16.960 --> 01:06:17.440 - reaction 01:06:17.440 --> 01:06:23.040 - is that you probably would have five years to get somebody to start working and then once you issue 01:06:23.040 --> 01:06:33.280 - that bond that's when the the district would actually form but we ever got clear we've got 01:06:33.280 --> 01:06:42.160 - clarification that a multi-family project actually can pay into a residential tiff so that and i 01:06:42.160 --> 01:06:50.000 - think commercial as well commercial and yes so that would increase the increment amount that 01:06:50.000 --> 01:06:59.360 - we could collect if a residential tiff was established okay it seems like that's about 01:06:59.360 --> 01:07:05.520 - the only way you could get that done is if you have a view got to be all of it yeah it's got to 01:07:05.520 --> 01:07:14.560 - be all of it and make it worthwhile well and it uh the other thing that it can do you can actually 01:07:14.560 --> 01:07:15.520 - buy land 01:07:15.520 --> 01:07:25.200 - if money to bond to buy land 01:07:25.200 --> 01:07:32.720 - and 01:07:32.720 --> 01:07:40.960 - and i think any tiff district you're allowed to to buy land or buildings and things like that 01:07:40.960 --> 01:07:50.000 - body bought the nursing school building ironically called the pain building at the time 01:07:51.120 --> 01:07:56.240 - and and and bought that as the redevelopment commission and then we worked with ivy tech to 01:07:56.240 --> 01:08:03.040 - get it well yeah french lick has done that if we don't want a real estate yeah we signed that i 01:08:03.040 --> 01:08:17.600 - signed the deed and it's now the lee mark oddly enough fitting thing to have finally gotten 01:08:17.600 --> 01:08:27.360 - accomplished on those tiffs though if it's a mixed use area you could cut out the residential side 01:08:27.360 --> 01:08:34.720 - and not tiff that but just tiff the commercial part of it correct you could that's kind of what 01:08:34.720 --> 01:08:39.440 - you and i have talked about so in my understanding is commercial could be in there but then the 01:08:39.440 --> 01:08:47.840 - residential would go back to the schools i think you could do that i i guess my my reaction it 01:08:47.840 --> 01:08:52.720 - depends what you want to do with the increment right if you want to if you want to have a lot of 01:08:52.720 --> 01:09:00.960 - maybe much more you know down payment assistance those types of programs you'd really want it all 01:09:00.960 --> 01:09:10.000 - in one in the same tiff district if you if it's an infrastructure i mean i i would be curious 01:09:10.000 --> 01:09:17.040 - with that idea what would happen if you tiff the whole thing but you said all the residential was 01:09:17.040 --> 01:09:25.120 - the excess assessed value and you you did all your payments based upon the the commercial area so 01:09:25.120 --> 01:09:31.360 - that it would still be in the tiff districts you could expect spend money on that but the the 01:09:31.360 --> 01:09:31.600 - property 01:09:31.600 --> 01:09:39.600 - tax would would not go to the the tiff district i think that that is probably a little complicated 01:09:39.600 --> 01:09:45.520 - for people who haven't dealt with tiffs for a long time but as richard mentioned prior prior to 01:09:45.520 --> 01:09:45.760 - that 01:09:45.760 --> 01:09:52.720 - law slipping in at the bottom of another law a year ago the residential tiff was set up for 01:09:52.720 --> 01:09:58.400 - economically underdeveloped areas correct to try to try to promote residential growth that was the 01:09:58.400 --> 01:10:05.760 - way the law read uh it had to do the previous law had to do with the number of homes built in the 01:10:05.760 --> 01:10:11.200 - township single-family residents built in the township for the average over the previous three 01:10:11.200 --> 01:10:18.400 - years i don't think it really which which may be a correlation with economically depressed probably 01:10:18.400 --> 01:10:25.200 - is but it but it doesn't it didn't say that on the face i think the the the issue and until the 01:10:25.200 --> 01:10:33.040 - legislature clarified it was how do you pay for the cost of a tiff district if you if you only have 01:10:33.040 --> 01:10:37.760 - single-family homes right that was always today because they've got a long lead time before it's 01:10:37.760 --> 01:10:47.680 - built out and the assessed value is is a lot lower than a multi-family and you know that a 1 cap on 01:10:47.680 --> 01:10:58.480 - your on your property taxes is a lot different than a 2 or 3 worked hard to give us a residential 01:10:58.480 --> 01:11:08.880 - tiff and then took all the ability to actually make it work away 01:11:08.880 --> 01:11:22.880 - where we start where we end and if it's it starts here and it ends here no pressure 01:11:22.880 --> 01:11:38.000 - all we can do is help a little and i for instance the westside tiff that developer 01:11:38.000 --> 01:11:45.200 - was ge right i'm not sure developers right word but that business when the westside tiff started 01:11:45.200 --> 01:11:50.720 - they were redoing all their manufacturing equipment and i think maybe even doing some expansion 01:11:52.000 --> 01:11:58.480 - so that's that was the the cash flow that started the whole westside tiff is that 01:11:58.480 --> 01:12:04.080 - i did learn today that the that subdivision 01:12:06.320 --> 01:12:26.720 - worth of the point has started to see development now it's been been there for 15 years and it's 01:12:26.720 --> 01:12:47.280 - actually friday morning they're putting in the side path along right now tony fox took that over 01:12:49.040 --> 01:13:01.520 - yeah we're happy the point right the point across from the point across from the point 01:13:01.520 --> 01:13:10.960 - housing with the arpa money we looked at that site for affordable housing 01:13:13.600 --> 01:13:20.080 - which is too far away from transportation and other kinds of infrastructure to make 01:13:20.080 --> 01:13:25.360 - it make sense for affordable housing oh yeah it's far away yeah yeah 01:13:25.360 --> 01:13:36.560 - okay uh with that i think we will call this meeting adjourned thank you all for coming thank you