WEBVTT 00:00:00.290 --> 00:00:09.334 - We call to order this meeting of the Monroe County Redevelopment Commission of July 15th, 2026. If we 00:00:09.334 --> 00:00:18.202 - could please call the roll. Commissioner Martin. Present. Commissioner Kiesling. Here. Commissioner 00:00:18.202 --> 00:00:25.118 - Jones. Present. Commissioner Tucker. Present. Is Commissioner McCarty online? 00:00:31.042 --> 00:00:46.513 - I can't read them. TSD, can you see if Colin McCarty is online? No. All right. First item is the Currie 00:00:46.513 --> 00:00:59.902 - profile bond discussion. Jeff, you're reading this, I'm assuming. Yes, and I think what I 00:01:01.154 --> 00:01:09.170 - I think what triggers this this issue is the question of whether Richland Township and Ellisville will 00:01:09.170 --> 00:01:17.263 - be merged. We will not have an answer to that until November when it goes through the election process. 00:01:17.263 --> 00:01:25.279 - Discussing this with bond council if they are merged and there is no debt on that in that TIF district 00:01:25.279 --> 00:01:28.158 - and that TIF district would go away. 00:01:28.962 --> 00:01:37.186 - Uh, we currently have a bond in that TIF district, but it was one through with, with, with the cook 00:01:37.186 --> 00:01:45.986 - group and we were accelerating the payments to pay that off early because the short, the short explanation 00:01:45.986 --> 00:01:53.470 - to the long history is, uh, COVID hit and they decided to go a different direction. Right? 00:01:54.146 --> 00:02:00.510 - I've reached out to representatives of the company, of Cook, to kind of get their thoughts on them. 00:02:00.510 --> 00:02:07.255 - I let them, and when we look at the claims, you'll notice that there is a very small claim in this packet 00:02:07.255 --> 00:02:14.001 - for payment on that bond. So we're not fully paying it off. And so we wanted to alert you to that because 00:02:14.001 --> 00:02:20.428 - that was a discussion that we had had over the previous few years and why we are deviating from that 00:02:20.428 --> 00:02:22.910 - for at least the short term to kind of 00:02:23.106 --> 00:02:31.311 - get wrapper heads around whether we want to pay that off or not. I did speak with Lisa Ridge and I think 00:02:31.311 --> 00:02:39.203 - we're going to try to explore a possibility if you guys wish us to to you know maybe do some kind of 00:02:39.203 --> 00:02:47.174 - bonding including this district and the west side to finish up the Curry reconstruction project. That 00:02:47.174 --> 00:02:51.550 - seemed to be one way where we can maintain that in that 00:02:51.874 --> 00:02:59.670 - TIF district while still having a project that would serve the district. But as, and clearly we want 00:02:59.670 --> 00:03:07.543 - to hear back from the company to kind of get a feel for what they want to do and how that is. I think 00:03:07.543 --> 00:03:15.570 - there's currently about $10,000 left in this bond. So that's why our bond payments less than $200. Now, 00:03:15.570 --> 00:03:17.886 - since it's changed ownership, 00:03:20.706 --> 00:03:28.337 - responsibility would still stay with cook they still are they still have are the ones who have the the 00:03:28.337 --> 00:03:35.969 - amount that we spent out of it right and we haven't we didn't spend that much out of it we essentially 00:03:35.969 --> 00:03:43.452 - we did the bond closing costs is essentially all the all the all that we're funding in that district 00:03:43.452 --> 00:03:50.046 - because the question would be what if we would want to fund more things in that district 00:03:54.562 --> 00:04:02.827 - I think if we want to fund more things in that district, we need to have some... I guess I don't really 00:04:02.827 --> 00:04:10.774 - want to get involved into whether... I mean, clearly if the merger doesn't happen, then we're fine. 00:04:10.774 --> 00:04:18.959 - If the merger happens and we don't have debt, then that's when the issue comes. I guess I would rather 00:04:18.959 --> 00:04:21.502 - have the debt and not gamble on 00:04:21.826 --> 00:04:29.532 - and that's really not the right word either, but not take the risk that if the merger does occur and 00:04:29.532 --> 00:04:37.390 - we lose the district when really we'll know that answer in four or five months and we could do nothing 00:04:37.390 --> 00:04:45.020 - or we could do something to keep that district in place. I guess my feeling is if we hear back from 00:04:45.020 --> 00:04:47.614 - the company cook that they really 00:04:47.842 --> 00:04:54.845 - Just want the bond to end and I think there's reasons the rdc should want that bond to end because it's 00:04:54.845 --> 00:05:02.050 - got a high An amount that could be pulled out of it the fact that it that hasn't it's it's still basically 00:05:02.050 --> 00:05:08.784 - on the books I think that that's something to look at I mean which was why we were trying to pay it 00:05:08.784 --> 00:05:15.921 - off as quickly as we could But I also don't know if the curry profile project or the curry reconstruction 00:05:15.921 --> 00:05:17.470 - project is necessarily 00:05:18.146 --> 00:05:25.827 - that we want to go through the expense of issuing a bond form, right? We'd have to look at the numbers 00:05:25.827 --> 00:05:33.433 - and that was kind of next. Okay, all right. Any other questions on that issue? Move on to item three, 00:05:33.433 --> 00:05:41.039 - the tax abatement application. Yes, and this has gone through the county council. And by statute, the 00:05:41.039 --> 00:05:45.886 - county commissioners review it because it's in the TIF district. 00:05:46.434 --> 00:05:52.828 - Kind of wanted to give you guys a heads up and let you let you know what's one of the things that is 00:05:52.828 --> 00:05:59.285 - happening in that TIF district. This this company currently has its scantia is the is how the company 00:05:59.285 --> 00:06:05.741 - has indicated that they want it to be pronounced. He also indicated a way where it said in Latin that 00:06:05.741 --> 00:06:12.198 - is different than that. But they are going to essentially they're going to go from 40 employees to 70 00:06:12.198 --> 00:06:15.870 - employees and they're going to increase their payroll by. 00:06:16.322 --> 00:06:27.588 - over $2.3 million, the average value of this real estate abatement is $10,000. So over the course of 00:06:27.588 --> 00:06:39.077 - 10 years, they are going to be paying $100,000 less in taxes over that 10-year period, but their wages 00:06:39.077 --> 00:06:44.766 - are going to go from $4.2 million to $6.5 million. 00:06:46.050 --> 00:06:52.896 - Is this a graduated or is it fixed for the term? It'll start out at 100% and then year 10 it'll be... 00:06:52.896 --> 00:06:59.743 - Do we have an estimate of how much of an impact it has on the TIF revenue? Well, it will not decrease 00:06:59.743 --> 00:07:07.059 - the TIF revenue because what they're doing doesn't exist. Their current facility, which this is an expansion 00:07:07.059 --> 00:07:14.174 - on their current facility, will still be in place. That is still be taxable. This won't lower that value. 00:07:15.010 --> 00:07:26.347 - this would not have any negative effect it would just the implementation of the new development will 00:07:26.347 --> 00:07:38.471 - will take a little bit longer. Is that common for a owner of a building to have a to apply for an abatement 00:07:38.471 --> 00:07:41.726 - for it? Is that commonplace? 00:07:43.362 --> 00:07:52.498 - Yes and no. I guess we have several statements where the owner of the building also owns, which is the 00:07:52.498 --> 00:08:01.456 - case here, the owner of the business also owns the LLC that owns the real estate, and that has to do 00:08:01.456 --> 00:08:10.504 - with, I assume, taxes. But it's not uncommon for the business and the person who owns the property to 00:08:10.504 --> 00:08:13.342 - be related, or the same person, 00:08:13.698 --> 00:08:22.812 - but under different. Okay, that's where I kind of assume that might be the case, but I. I would say, 00:08:22.812 --> 00:08:32.197 - we probably have, I don't know, seven or eight different abatements out there, and I would say probably 00:08:32.197 --> 00:08:39.326 - half of them have this kind of arrangement. Okay. They've been notified. Okay. 00:08:42.594 --> 00:08:52.666 - item are minutes. We have minutes for the meeting of March 25th and May 20th. These were in the packet 00:08:52.666 --> 00:09:03.423 - that was distributed for our prior meeting which got canceled. Does anybody have any additions or corrections 00:09:03.423 --> 00:09:08.606 - to these minutes? I would just say that I spoke with 00:09:09.314 --> 00:09:18.466 - And she wanted me and so in the hard copy package to add to the minutes of May 20th that there was no 00:09:18.466 --> 00:09:28.066 - meeting in April of 2026. And I added that under the roll call and call to order section of those minutes. 00:09:28.066 --> 00:09:37.129 - People start looking for the minutes for the meeting that we didn't have. And that change would have 00:09:37.129 --> 00:09:38.654 - been made today. 00:09:41.410 --> 00:09:52.061 - Any other additions or corrections? I assume I can do these together. Correct. Do I have a motion to 00:09:52.061 --> 00:10:02.924 - approve the minutes of March 25th and May 20th? I move to approve that we approve the minutes of March 00:10:02.924 --> 00:10:10.622 - 25th and May 20th, 2020. I don't have any corrections. We have a second. 00:10:10.818 --> 00:10:20.761 - I'll second that. We have a motion and a second. Excuse me, I want to make one correction. Yes. It probably 00:10:20.761 --> 00:10:30.152 - ought to be noted that I was absent from the March 25th. It doesn't say whether I'm a member of it or 00:10:30.152 --> 00:10:39.358 - not, but I think it probably ought to say that I was absent. On the May 20th? The 25th. March 25th. 00:10:39.842 --> 00:10:48.569 - I was there on the 20th. And typically I will indicate who is present and not indicate who is not. Yeah, 00:10:48.569 --> 00:10:57.129 - he just indicates who's here. Okay. All right. We have a motion and a second to approve these minutes. 00:10:57.129 --> 00:11:05.855 - Jeff, you want to call the roll? Mr. Martin? Yes. Mr. Kiesling? Yes. Mr. Jones? Yes. Motion is approved. 00:11:05.855 --> 00:11:07.102 - Three to zero. 00:11:12.386 --> 00:11:27.442 - Next item are the claims. We have essentially our bond claims this month, the fire truck claim. 00:11:27.442 --> 00:11:39.518 - And then I, well they are the town of Holtzville fire truck for $249,045.28. 00:11:40.386 --> 00:12:05.438 - The bond of 2015 for $193,551.25. Our bond for 2020 at $323,606.25. The Hunter Valley 2021 bond for 1,230. 00:12:06.082 --> 00:12:17.992 - the County Bridge investment bonds of 2023, $56,384.80, and the 2018 Cook bond for $133.25. Jeff explained 00:12:17.992 --> 00:12:29.235 - the issue with the Cook bond. I had a question. Why do we end up with this County Bridge improvement 00:12:29.235 --> 00:12:35.134 - bonds? How does that come back to us at that amount? 00:12:36.418 --> 00:12:48.003 - Well, that is the bond that was for the Fulton Pike Bridge. And we had pledged half of our TIF revenue 00:12:48.003 --> 00:12:59.363 - from the Fulton Pike TIF towards payment of that expense. I think if you look at the packet, the RDC 00:12:59.363 --> 00:13:05.886 - was paying $76,000, a little over seven out of Fund 4922. 00:13:06.018 --> 00:13:17.661 - And the highway department out of the, I believe that's the major bridge fund is paying 633,000 in another 00:13:17.661 --> 00:13:29.086 - 119,000. So they are paying the bulk of that, which was expected. Right. And the other one is the Hunter 00:13:29.086 --> 00:13:33.438 - Valley bond. There we had, we have paid 00:13:33.858 --> 00:13:48.731 - some on work for that and we'll discuss that project. This is the second fire truck payment this year? 00:13:48.731 --> 00:14:01.438 - I think this year, yes. Does anybody have any questions about these? Already mentioned. 00:14:01.986 --> 00:14:08.421 - Is this all we're paying on the fire truckers? Do we have some more to pay? I forgot. We pay twice a 00:14:08.421 --> 00:14:14.919 - year that amount and we're going to pay it for five years and I believe this is year, this would have 00:14:14.919 --> 00:14:21.418 - been ending year two is my memory. I was just trying to, my brains weren't working to think about it. 00:14:21.418 --> 00:14:27.789 - I didn't see any documentation. So this is the second payment, right? The second payment this year. 00:14:27.789 --> 00:14:31.166 - Right. I believe we made payments last year. We did. 00:14:31.362 --> 00:14:44.504 - We paid a million of the 2.5 million total. Yes. Any other questions? Do I have a motion to approve? 00:14:44.504 --> 00:14:58.166 - I move to approve the claims for today in the amount of $943,950.83. Okay. We have a motion and a second 00:14:58.166 --> 00:15:00.638 - to approve claims. 00:15:01.026 --> 00:15:11.304 - In the amount of $943,950.83 distributed, as I had stated earlier, presentation of these claims. Jeff, 00:15:11.304 --> 00:15:21.382 - please call the roll. Commissioner Martin? Yes. Commissioner Kiesling? Yes. Commissioner Jones? Yes. 00:15:21.382 --> 00:15:28.766 - Motion is approved, three to zero. Do you have the signature copies? Yes. 00:15:44.386 --> 00:15:55.279 - that to yours please. Okay next on our agenda we have staff comment. You are the staff you get to comment. 00:15:55.279 --> 00:16:05.663 - I think after I sent this off Commissioner Martin asked about for an update on the Hunter Valley Road 00:16:05.663 --> 00:16:10.142 - project. I reached out to Steve Kreider and 00:16:10.274 --> 00:16:18.096 - Who is the developer for that project and asked him what his plans were? and he sent something back 00:16:18.096 --> 00:16:25.996 - an email that indicated that they did not get their all their permitting in place prior to April 1st 00:16:25.996 --> 00:16:33.818 - and so they could not do any of the tree removal during during the because of the bat season and so 00:16:33.818 --> 00:16:35.774 - that he anticipates that 00:16:36.962 --> 00:16:43.938 - when that window reopens in October, they're gonna begin their construction project, and they believe 00:16:43.938 --> 00:16:50.982 - that they are gonna target substantial completion during the fourth quarter of 2027. He also mentioned 00:16:50.982 --> 00:16:57.821 - that he thinks his costs are going to go up somewhat, and so he may come back to the RDC to kind of 00:16:57.821 --> 00:17:04.934 - have a conversation about how to handle that. And so, I would anticipate that at some point he may come 00:17:04.934 --> 00:17:06.302 - back and we'll have 00:17:06.498 --> 00:17:18.205 - discussion. Interesting to note that succession of delays is increasing our cost on the project above 00:17:18.205 --> 00:17:29.796 - what we anticipated, which often happens. And it would be nice if we could figure out ways to get an 00:17:29.796 --> 00:17:31.518 - alignment with 00:17:32.770 --> 00:17:40.454 - our upfront expectations and the actuality of the by being able to push people to meet specific time 00:17:40.454 --> 00:17:48.063 - deadlines or have a negative consequence on their activity because it's easy for them to delay. And 00:17:48.063 --> 00:17:55.975 - I think Lisa Ridge would have to be part of any conversation about that because I think the major delay 00:17:55.975 --> 00:18:02.366 - on this one is something that she has dealt with on several projects of her own and 00:18:03.266 --> 00:18:11.888 - Every time I looked at it, I asked her about it, and she's like, this is not out of the realm of what 00:18:11.888 --> 00:18:20.509 - she's hearing people are going through for getting that permit. The difficulty is North of here. Yes. 00:18:20.509 --> 00:18:28.962 - But it becomes a significant problem over time that you end up having to pay for somehow. Any other 00:18:28.962 --> 00:18:31.582 - things you wanted to bring up? 00:18:33.154 --> 00:18:40.997 - That's the big one. I think the other one is, I assume that you guys are comfortable with me working 00:18:40.997 --> 00:18:49.074 - with Lisa to see if the Curry Pike reconstruction, if that makes, if issuing debt for that makes sense, 00:18:49.074 --> 00:18:57.072 - probably reach out to the financial advisor to get their input on that as well. Okay. And commissioner 00:18:57.072 --> 00:19:02.974 - comments. Brad, let me start with you since you're right there. No comment. 00:19:03.074 --> 00:19:17.805 - The only thing I wanted to bring up, I've got this residential TIF thing and I've been trying to figure 00:19:17.805 --> 00:19:31.262 - out. When I went to the fair, I took some circuitous routes to get there just because I could. 00:19:31.906 --> 00:19:43.726 - And it occurred to me that if we can find an area that is big enough, that does have predominantly 00:19:43.726 --> 00:19:56.024 - residential, has a little bit of commercial opportunity, that we might be able to make something work. 00:19:56.024 --> 00:20:01.278 - So I kind of scoped out the area between 48 00:20:05.346 --> 00:20:32.446 - Are you south or north of 48? What is west of the north-south road west of the airport? West of the airport. 00:20:33.122 --> 00:20:40.171 - West of the airport, the north-south road. The major one over there. I'm trying to think of the name. 00:20:40.171 --> 00:20:47.221 - I can't remember the name of it now. Heart Street's part of the curvy. Yeah, that's... Heart Street's 00:20:47.221 --> 00:20:54.201 - immediately east of the... Heart Street would be the road. Basically, curvy turns into Heart Street, 00:20:54.201 --> 00:21:01.526 - right? Right. So that's not it. It's the north-south road, which is west of the airport. That mile marker 00:21:01.526 --> 00:21:02.494 - is out there. 00:21:05.410 --> 00:21:19.645 - the name I'll know it but I can't that up again well there so that's an area roughly three miles wide 00:21:19.645 --> 00:21:34.718 - maybe four miles wide and then go south down maybe all the way to like May Road so it's a big area but it's 00:21:36.514 --> 00:21:45.756 - to be 99% residential at the present time. But it does have some very large acreage. It has some areas 00:21:45.756 --> 00:21:54.908 - closer to town that could see development. I think there's a way to probably get a sewer into part of 00:21:54.908 --> 00:22:04.149 - it, either building a new plant or looking on to city. The city actually owes the sewer district about 00:22:04.149 --> 00:22:05.854 - 40 lots out there. 00:22:06.114 --> 00:22:15.591 - service at this point. You're thinking Garrison Chapel. But that's an area where we might look at a 00:22:15.591 --> 00:22:25.257 - district that could last for maybe 30 years or something like that. But it's going to take some study 00:22:25.257 --> 00:22:33.502 - to figure out whether that's even feasible because it is such a large area in terms of 00:22:34.018 --> 00:22:42.054 - what the impact would be on county tax revenues, if we take out some of the additional revenues that 00:22:42.054 --> 00:22:50.010 - would be coming in, what our obligations would be for other kinds of infrastructure in the area. We 00:22:50.010 --> 00:22:58.205 - get significant development there. I'm sure that there have to be some fire improvements in that area. 00:22:58.205 --> 00:23:03.774 - But I think that's the only area I could think of where we might have 00:23:03.938 --> 00:23:13.643 - opportunity for commercial development along 48 on the north along 45 going cutting right through it 00:23:13.643 --> 00:23:23.636 - what was your southern boundary again probably down to May Road or something like that pretty far south 00:23:23.636 --> 00:23:33.822 - it might be an area that's worth taking a look at and what I would like to do is get the the Commission's 00:23:35.138 --> 00:23:42.875 - for me to start working with the county surveyor on doing a little mapping and trying to get some of 00:23:42.875 --> 00:23:50.612 - the tax data for parcels we would identify to see whether that kind of thing is possible. Looking at 00:23:50.612 --> 00:23:58.349 - historically what the tax increments have been in that area. And we had in the past looked at around 00:23:58.349 --> 00:24:04.094 - the airport. Right. Which this is, but we didn't go that far south, right? 00:24:04.418 --> 00:24:13.227 - We want that for west. Sounds familiar. And it could be that, I mean that would be one of the areas 00:24:13.227 --> 00:24:22.124 - where we could pick up some industrial development in that area. Where's north of 48 to it? North of 00:24:22.124 --> 00:24:31.550 - 48 Graceland Township? Yeah. That would be, I guess reorganized. Well north of 48 we wouldn't worry about. 00:24:31.682 --> 00:24:41.692 - We would be in it. South of that would be Van Buren. Essentially, I think it all would be in, some of 00:24:41.692 --> 00:24:51.211 - it might be in Bloomington Township. Could be that it's all in Van Buren Township. I'm not sure. 00:24:51.211 --> 00:25:00.926 - But I think, I mean, we would need to work with the surveyor to get a list of parcels, look at the 00:25:02.402 --> 00:25:10.222 - value of those parcels and how that's changed over the last few years to know if we're getting enough 00:25:10.222 --> 00:25:18.272 - growth there to even start building any money coming in. And then check with the zoning stuff concerning 00:25:18.272 --> 00:25:26.169 - what kind of commercial potential is there that's already zoned, what the zoning is on the residential 00:25:26.169 --> 00:25:30.846 - areas, whether there are some other areas where we could get 00:25:31.458 --> 00:25:38.008 - higher densities, which is certainly going to be needed to get affordable housing kinds of things. But 00:25:38.008 --> 00:25:44.812 - I think it's worth taking a shot. It's the only one I can think of. And I think there's also some probably 00:25:44.812 --> 00:25:51.425 - infrastructure needs right now in that area. I know there's some drainage and those kind of issues that 00:25:51.425 --> 00:25:56.830 - the county needs that we need to resolve. And so that would be part of what we could 00:25:58.754 --> 00:26:06.970 - You know, I think there's a more likelihood there. The only other one I can think of is picking up the 00:26:06.970 --> 00:26:15.027 - Smithville Sanders Sanders Smithville area going south lake. But I don't think that that's as likely 00:26:15.027 --> 00:26:23.563 - to get any kind of commercial development as the areas off to the west southwest. When you say commercial, 00:26:23.563 --> 00:26:28.030 - are you including like a multifamily or are you talking 00:26:28.770 --> 00:26:36.629 - A possible multifamily, but I'm mostly thinking about commercial business. Employment centers and things 00:26:36.629 --> 00:26:44.189 - like that. Yeah. Yeah. But I think it's worth it. I mean, I think it's worth taking a look at to see 00:26:44.189 --> 00:26:51.824 - just what might be possible there. If no one really objects, I will start contacting the surveyor and 00:26:51.824 --> 00:26:57.438 - planning and see if we can get a little data about what might be possible. 00:26:58.338 --> 00:27:06.208 - He might be interested, I haven't talked to him recently, but he's looking for stuff. Certainly we'd 00:27:06.208 --> 00:27:14.311 - have to get, a lot of people would have to line up behind him before we could actually. Oh, absolutely. 00:27:14.311 --> 00:27:22.492 - But I think if we don't continue our search for residential TIF opportunity, it just isn't gonna happen. 00:27:22.492 --> 00:27:26.622 - It's one of the few options that we've got available 00:27:28.322 --> 00:27:42.563 - County can get behind affordable housing initiative and I will do that any other comments questions 00:27:42.563 --> 00:27:57.374 - anything working on it that's all I can say okay all right with that I'll entertain a motion to adjourn 00:28:00.162 --> 00:28:04.638 - I'll motion to adjourn. I second.