Okay, it's time, we have a quorum. Wanna call the roll, please? Commissioner Martin? Present. Commissioner
Cassidy? Present. Commissioner Kiesling? Here. Commissioner Jones? Here. I do not see Commissioner McCarty
either in here or online, and I do not see Commissioner Tucker either in the room or online, so we have
a quorum with four members.
Our first discussion item is Ivy Tech. And we have a guest, Eric Coyne. You are the chancellor now?
Yes, sir. OK, of Ivy Tech. Yes, sir. Welcome to our meeting. It's going to be a fun one, because we
get to do something we've been waiting to do for a long time. We'll let Jeff introduce the topic, and
we'll go from there. We put this on because we have to give Ivy Tech back their property, essentially.
About 20 years ago or so, actually it was 17 or 18 years ago, I remember, because I had just taken over
the RDC when we were doing the construction project for the Indiana Life Science Center. And
that construction project was a bigger task than I thought it was going to be when I got employed with
the county and decided and was given the opportunity to represent the Redevelopment Commission. But
we got it through, we got it done.
But the lease agreement was a little bit different than what we're used to, right? Because Ivy Tech
owns the land, has owned the land the entire time. They leased the land to us. We built the building.
And then we leased the land with the building back to them. And that lease had to go for a period of
time. I think it was 20 years. So I think it was actually signed at the beginning of 2020.
2007, or the end of 2006, has a provision in there that says once the debt that we issued to pay for
the Life Science Center was done, then the Redevelopment Commission could then at any point in time
thereafter terminate the lease agreements. And terminate the lease agreements in accordance with the
lease documents means transferring all our ownership interests back to Ivy Tech. They own the underlying
land and just kind of getting rid of that whole lease arrangement.
that was necessary in order to do the bonding and the financing for the project. So we paid that loan
off, I think, three or four years ago. And so there wasn't any problems. But the beginning of 2027 is
when we have to transfer it back. I've been working with Mr. Coyne and their attorneys. We're like 95%
of the way sure that we got the documents
as necessary, we've decided to do a quick claim deed because it's a lot easier than doing a document
that describes what I just described, right, with the lease and all that. So it's a lot simpler and
it would give anybody doing a title search the understanding of exactly who owns the property at that
point in time. So what I'm looking for is to making sure that
If the RDC is comfortable, we can go ahead and authorize the president to go ahead and sign both the
deed and any related documents, sales disclosure forms, and things like that. It's substantially similar
to what you guys receive in the packet. Just making sure that Ivy Tech, if they have any issues or anything,
I think theirs is who signs it is probably going to be one of their bigger issues. So we can get that.
all squared away. But again, this is for the Indiana Life Science Center, which was phenomenal when
it was built. And I think it really inspired the second thing we did with them, which was the nursing
school. So I think both of those things are great. So what we're looking for today is, are you guys
comfortable with, once Ivy Tech and us make sure that we all have the documents, whereas we're comfortable
authorizing the president to go ahead and sign off on
We're checking all the financial things that were taken care of. Yes. There's no money owed.
No money owed. And all we're doing is transferring the land that they had to lease back to us anyway.
We built the building. It's all paid for. And the only question I have is, Mr. Coyne, do you want your
land back? Yes, sir. Yes. Yes, Mr. Commissioner. I just want to verify that we're not trying to give
you something that you really don't want. No, it's been terrific.
If this is a good time, I'd just share a few thoughts.
you know, really appreciate the confidence in Ivy Tech, our students, our community to really, it has
really made a difference for the life sciences community in particular, but it goes well beyond that.
We now, you know, as Jeff said, it opened in 2009 and the purpose has always been workforce development.
And so it started really as biotech life sciences focus and we've expanded now
We house the semiconductor program, and we will have a fiber optics training program in there as well.
That flex space that we have in there has really done a lot. We've had job fairs. We've managed a few
different layoffs over time and been able to put them in there and help with that and then do some training.
And various industries have come in there and used it. And it also houses the Cook Center for
Entrepreneurship as well.
We've had about 3,000 entrepreneurs and small businesses go through there and get services through there,
and about $5 million in investment into the community through the Small Business Development Center,
just through that. So really appreciate it. I mean, it's a lot more than the bricks and mortar that
we talk about. It really has, I think,
transformed our community and our workforce development opportunities that we can do. I mean, frankly,
I wouldn't, we would not have the room to do this fiber optic training program, but for the Indiana
Center for Life Sciences and that flex space. So really appreciate the RDC believing in this partnership
and working with us. It's been, it's been great. Hopefully we do another one one day. This is the type
of things that we look in that makes for long-term community enhancement and
and helps build the human element, not just the building. So I appreciate it. Thank you. You said it.
I remember when we started that, that's a long time ago. I think I was a county commissioner at the
time. Yes. Well, this is such a good example of what long-term investments that are supported by our
tax dollars can actually do to benefit the community as a whole.
And this is a good example of that, and we hope to be able to continue to do this kind of work. And
I would just point out that, you know, I do handle most of the tax payments that come through the county,
and I would say 90 percent of them, I'd be tax included in that conversation, right, because there's
always workforce development, workforce needs that we have, and so I think investing in them
and creating this space not only helps with what they do in this space, but it also helps them do other
things in the rest of the campus that helps facilitate things such as, you know, I want to say some
manufacturing ideas that, you know, people come in and they go, hey, Ivy Tech, can you help us train
people to do X, Y, or Z? And Ivy Tech has always said yes.
And typically, they have an area of the state, because it's a statewide thing, where they're already
doing that type of training at a different location that they could just bring it down. And they already
have the curriculum. And it makes those conversations go pretty well. Take him with me everywhere I
go. Out of curiosity, having been at Edwood School last month, are you guys connected at all with there?
Sorry, which school? Edwood.
We work with RBB. We had a presentation from them last week. On their new proposal to build out their
life sciences program. We've been working with them. We've been in collaboration with them. I suspect
that once it's all done and they figure out the programming, our dual credit programming will be what?
It's always good when resources collaborate instead of
in their own corners. Yeah, absolutely. Bring to that point quickly. You guys work with RBB MCC on a
consistent basis. We're educating, aren't we? While we're finishing the education. Absolutely. Our dual
credit programming, which is our high school programming. So across the state, we have about 200,000
students at Ivy Tech across the state. About 100,000 of those are high school students.
I mean, the number is basically 50-50. Our campus is very similar to that. And it's our whole region.
So we service the whole region. But Monroe County is obviously a big part of that. So what I'm looking
for is a motion that authorizes me to execute these documents on behalf of the Redevelopment Commission.
I'll make that motion that we give Richard
Martin, the president, the ability to sign any necessary legal documents in order to transfer the property
to Ivy Tech and finish. Jeff, you want to read the bill? Commissioner Martin? Yes. Commissioner Cassidy?
Yes. Commissioner Kiesling? Commissioner Jones? Yes. Motion is approved, four to zero. All right, you
just forward the documents to me and I'll put my John Henry on them.
when you're ready. Thank you all very much, and thanks for your support years ago. Yeah, it's been a
long time. I really appreciate it. I was going through them all pictures. I was thinking, Joyce Polin
and I were both very much involved with some of that. Yes, and Joyce works out of that building. I know.
She did. I was standby, but she worked on it. This is the second structure we've now turned over to
Ivy Tech. That's right. Yeah, it's a good thing, David.
And that's one of those things you look forward to trying to do something additionally in the campus,
always taking consideration. We're here to help. I appreciate it. Really do. And I think I would just
mention, because we mentioned this last month, is that the Westside TIF district ends in about a little
over a decade, 13 years. So if you are interested in bringing in another project to the RDC, I wouldn't
wait. Because if it involves any kind of debt, it probably needs to be done in the next year or two.
Thank you. Well, thank you. We have enough time to collect the money. Thank you so much. Thank you.
Thank you. Thank you. Okay Next item discussion on the annual spending report. I've seen something like
this before. Should have seen a few of them. Um I think it was two years ago. We
that we had in the past. I think I've tried to every year we make little additions or things like that,
so I tried to incorporate all everything that we've always done this year. The intent is to. Show from
show the state looking at all our tiff districts. What what we're doing and what kind of impact financially
that has. This one is similar to last year. It begins with our bond
Um, we either, they all come from the annual report. I put the asterisks by the state road 46 in the
Fullerton Pike major bridge because the Florida pike is limited to half of what we received. So the
asterisk is that's from the annual report. If we don't receive that much, or if we don't receive twice
that much clue, that'll be lower. Um, and the second one is.
the state road 46 corridor again. And this is a repeat from the last couple years as well, although
this time we've been told it's really going to happen that next year that they currently have all the
permits they need. They're going to begin doing the tree work once they are allowed to with the Indiana
bat. And so that project will get going. If you look later in the report, we still have over $4 million
in that bond to support their completion of that project.
I don't know if that's enough anymore or not, but that is a question that I think Mr. Kreider has to
answer, and he has to figure out how to either pay the difference. And if you guys feel like it, he
could come in and make a request, and we can look the bond council to see what our options are.
I'm not aware of a huge, and maybe I need to review a huge increase in the amount we're collecting out
there yet. So I'm not sure if there's a viable alternative out there anyway. When we issued that bond,
the revenue was pretty much going to all be used to pay for what we had done.
that we were planning on giving $270,000 to RBB. I did put a note in there that $376,600 is what we
owe left on the contract. I think next year would be a $270,000 payment unless we decide at the end
to do that final payment in December as opposed to waiting for the next year. So in which case, that
number would then just be in next year's report that says we're going to pay in January.
Um, the, uh, the Montreal for the curry profile. Is that the total that's due to them now, or you still
going to pay them a pittance each year to keep going? That reflects the total because I don't know.
I don't know what the plan is. So we definitely are going to put the maximum so that we make sure that.
I've heard any way it goes. Cause if they, if they ask for it tomorrow, we'd be able to do it.
Well, I guess maybe an update. When I've talked to the current bondholders, of course, they want to
be paid, but they understand what's going on. And they asked that we talk to the new owner of the GE,
Simtra, to see if they have any. So I have reached out to Simtra to kind of
them know that that question's out there and if they have any thoughts that we would love to hear from
them. I know that they're, I actually toured the building like a month ago, both their current and their
next, they do have a grand opening of or a ribbon cutting for something next month for the, I think
the building H is what they call it. But it's, they've done a lot of work out there.
So it's kind of exciting. All right. And then the other thing that was requested last year, let me see
if I could find it, was the, I added that for the fire truck, the $498,991, that that represents the
year three of a five year commitment. So that'll be on,
the schedule for the next two years. Based upon what you're seeing, what we're seeing from a revenue
collection, our revenues offset this overall. Yes, I mean, our Westside TIF district's doing well. I
think where our cash balance is starting to grow, I didn't pull that number before, but I think Lisa
has a good feeling for it. I think the Curry Pike is really the last
major major project or at least the next major project that she really feels has to be done and then
I think we'll see what she wants what she thinks after that but I think that's after that it's much
more going to be how do we react to things much like the heart straight connector was on our plans for
a long time and then we had a project that came through that says hey we should really do this. So that's
the report it's due by December 1st to
the state. If you guys are not sure, we approved it in October, because a lot of people don't necessarily
want to come in for a Thanksgiving meeting. But I'll be here, so it's okay. Okay, so you need a motion?
If you want me to go ahead and approve, if you guys want to approve it, I will go ahead and get it filed.
Well, the only thing I would ask if reflected as we put the meeting minutes out for next time, that
we would include what that overall balance is.
if we could. For the west side? For the west side TIFF, so anybody looking for your... We would put
in our minutes for that, that we would approve next time for the cash balance of what we have in the
west side TIFF. Okay, good idea. So if there's any... I didn't hear all of you said that's why. Do you
have it? Do you want today's cash balance? I think letting them know what today's cash balance is...
Yeah, that clears things and no question.
Thank you. That doesn't include what we're going to spend today, does it? No, I think it probably does
include today's. Did you already pay that? We're going to spend another $100,000 today. That's been paid.
It says it's paid October 27th. So it's probably not included in your number there. Yeah, it wouldn't
be included until tomorrow because if I... Right. Okay. All right. That it reflects... When is the next
settlement date? Settlement? Settlement will occur in middle of December.
And so rough numbers, I think you're going to see $800 to $1 million be put into that account. All right.
Yeah, I think I'm OK with this report.
It's just a budget kind of item anyway. They're not going to hold us to it. One question I do have that
Richard just brings to that point, based upon what I read in regards to how you put it, we have complete
flexibility if something comes up. Yes. And that way we have, if dollars are available or if projects
are necessary, the way you
you worded it in that as far as our capital expenditures. I don't want to take all the credit for that
but it's the way the bond council put it in there to make sure we have enough flexibility to do whatever
we need was important. We have certain obligations and beyond those obligations we're pretty much free
to exercise our discretion. Right. Okay so Randy you want to make a motion? Yeah I'll make a motion
to approve resolution
resolution. I'll make a motion to approve the Monroe County annual spending plan for the Redevelopment
Commission. Please call the roll. Commissioner Martin? Yes. Commissioner Cassidy? Yes. Commissioner
Kiesling? Yes. Commissioner Jones? Yes. Motion is approved four to zero.
minutes. We have a large minute packet because we had a very successful meeting last month over at the
Ellisville RBB administration building. The minutes I think are correct and we have a presentation,
a copy of the presentation that they gave and there were quite a few questions during the discussion of those
of that presentation. But I think everything was, I didn't see anything that I thought was incorrect.
Does anybody have any corrections or additions? I think so. I couldn't read them because I couldn't
download them at the time. So I presume what you read Richard is correct. And you got my name on it.
It wasn't on there originally. I know very much so that I was there.
What I enjoyed most was seeing all the football players coming in and getting ready to practice. There's
some stout boys over there. I move that we approve the minutes of our meeting of September 16, 2026.
We have a second. Second. Mike seconds. Roll the roll. Commissioner Martin? Yes. Commissioner Cassidy?
Yes. Commissioner Kiesling?
Commissioner Jones. Yes. Motion is approved, four to zero. Okay, claims. Oh, man, I don't know what
has hit me. Push my button, or A button. Okay. Just don't give it to us.
Approval claims. We have claims this month. We have for DC Construction Services, this is work on Curry
Pike in the amount of $100,154.19. And we have two claims from Financial Solutions Group for two of our
These are kind of a report. I was trying to find out which. They're arbitrage reports. It's FGC invoices.
It's a pretty minor discrepancy here, but on the actual voucher, it says 100, 154.69. On this one, it
says 100, 154.19. We should probably go with what's on the claim.
Oh, I see what you mean. I didn't see that. What is it, Mr. Cockrell? I'm looking at the actual claim.
It's 69 cents is what is on all the other documentation.
Adam up 150, I know for 150. Where are you reading this? What are you looking at? Oh, it's the difference
in here in the accounts payable voucher, 59 to 69. Let's just clear up and verify. Mr. Carpenter gave
us a claim, a comment that didn't
Didn't say 69. It says 19 cents. Actually, it's 69 cents. 69 cents. So I move that we approve that claim.
Yes, Mike. The voucher says 69. Mm-hm. 69, right? So I guess the question is, what check got paid?
you'll know tomorrow. Good idea. So it'll be paid and it'll reflect the actual amount that needs to
be on the 69. Okay. Well, we should approve this at the 69 cents and just say, or less. All right. I'll
go with that. Okay. All right. And then the other two, one is for the 20, that's what I want to look
at, one was for the 20,
15 bond, and the other was for the 2020 bond. Yeah, the 2020 bond and the 2015 bond. OK. Do I have any
questions other than the one we just resolved? All right. Can I have a motion to approve the claims?
I move we approve these claims. Second. Did you want me to say the amount? I'm assuming it's for $101,654.69.
So we have a motion to approve the claims, the amount for DC construction services of $100,000, $154.69
or less, and to financial solutions group for $1,500, for a total of $101,654.69 or less. Please call
the roll. Mr. Martin.
Yes. Commissioner Cassidy? Yes. Commissioner Kiesling? Yes. Commissioner Jones? Yes. Motion is approved,
four to zero. All right. I don't know if you can answer this question. I went ahead on the claims. There
is this credit that we got that looks like it was some kind of, it says emergency repair.
So that was not part of the project itself, which is why we got a deduction for it? Or was that an error
during the project that had to get paid for? Or do we know it? Lisa's not here, so I can't ask the question.
I'll take the credit. I just was wondering what it might be for.
I don't know off the top of my head what it was for. All right. Now, she had indicated also that there
was going to be money left over. But when I look at this voucher, I don't see any money left over. But
it does say something about the signal. And I know that she was going to try and include something about
the signal.
I guess we can leave these open questions until she's available. Yes, I think she could answer those
questions and I am unable to. Just ask her next month meeting. Yep. I mean, the way I read the comment
here is that I think we may have
that's what it looks like is that it is. A reduction of the cost of the signal construction and from
an invoice. 4575. From July 6 26. So my guess is they during the audit process, they caught something.
I found something that was not
It was an emergency. This state with the states, it's an emergency repair, so I'm wondering if something
happened. Well, let's say we'll ask Lisa and then we'll get a very specific answer in regards to what
it was. But as it is, we got a credit against things we don't. We don't see where we're going to have
significant budgets from a number standpoint, but highway director. It looks like it says reattach the
signal head and sign.
like something fell down or came apart and they had to go fix it and then they just included it in that
particular project as opposed to on the general maintenance she said no you broke it you fix it fair
i'm assuming that's what the or that wasn't the project cost of this one and it was a project cost that
should have became out of a different fund it yeah okay all right uh any staff comment jeff
I just would say that we've had a nice couple months with the RBB presentation and then talking with
Ivy Tech tonight. I think those are both great things. I guess my one question to you guys is I think
Lisa has indicated that she doesn't think they necessarily have any business for November. So I guess
be prepared for an email the week before the November meeting that says, hey, I don't think we have
any business.
Do we want to just put it off till December? What is our scheduled date for that? It's going to be the...
I think it'd be the 18th, would be the RDC meeting day. That month? 18th. It's on to November? November
18th as well. November 18th is when our next meeting will be. But I don't have my calendar here. I think.
Okay, we'll assess that.
when we get closer and if we don't have anything to do, we don't need to meet. Oh, it's worth,
I plan to be, I'm going to be in Seattle on that date, so. Okay. Well, enjoy. What's that? Enjoy. Yeah,
we're going to the IU Washington games. Oh, nice. That will be good. And the December meeting will be
on the 16th, right? I didn't hear you. December 16th. What about December 16th? That's our December
meeting date.
before the end of the year, we'll probably, or end of the year, first of the year, we'll have some discussion
with Mr. Kreider and kind of get an update of a schedule. I mean, I can invite him to... Well, they
should be able to start work in two weeks, right? Mm-hmm. Well, I don't know the exact date, but yes,
soon. It's sometime in November. Okay. Just asking for an update on, yeah, just trying to get an idea of public
Want to say it was August I got the last update and it was once that they had everything and once the
Indiana bat Season ended or began however you want to look at it That's when they were going to start
clearing for construction next summer I Would be very interested to know before we
Commence that project exactly what the construction specification is What they're going to do and what
they're not going to do Because we've talked about so many things over the last couple of years And
it's not really clear to me exactly What outcome we're going to achieve Herbs gutters
sidewalk. And I think Lisa can answer that question. Right. If not Lisa, then I think someone from planning
knows the answer to that question. Because those plans have already been through, submitted, looking
for permits. My understanding is it's supposed to have full permit. Curbs, gutters, side trails. Also
utility issues too. What's happening with the water line? Who's dealing with that? Where is it going
to go? There's electric in there too. There's probably
have a high speed cable in there now somewhere. What's happening with all that stuff and. Who's paying
to have it moved if it needs to get moved or who's you know, fine. I'm not sure that there is anything
for most of that, because right now it's. It's fairly gravel. I do know that when we we went when we
had discussions years ago now, you know, it almost feels like it might have been around COVID when COVID
hit. The big question was forced main for sewer.
from that. And so I don't want to end up in a situation where we go ahead and we spend a lot of money
and put in a roadway. And then two years from now, we got to tear it all up to put in new infrastructure.
That's not a suitable satisfactory situation. And I'm sure we've discussed all that. But with so long
ago, I can't answer the question. So we can have that. That's why I want to make sure we get things
presented so we know what goes back.
And if the plans are there, then we know what should be done. We just need to get a verification from
our highway director where things are. I don't want to be building future expenses, particularly for
an area that has limited resources coming in for the foreseeable future. And I guess from my perspective,
at some point in the future, there should be a fairly robust park out there. We would think so.
We would think so. It's not quite clear how all that might happen or when, or if any of it's going to
happen. I mean, I was part of the original negotiations for the PUD out there and all the grand plans.
Hey, that sounded great. However, things didn't quite work out that way. And to that point, Richard,
exactly. The plans were set out for a lot of things, but there's been a lot of changes that occurred.
Quite frankly, we need additional employment to help make those things occur in our community. But at
this point, that will be a big park. OK. Mike, anything? No. Dearest? I don't think so right now. OK.
Randy? I'm good. Just want to appreciate everything you're doing, Jeff, and put things together to bring
this Ivy Tech thing to a conclusion after approximately 18 to 20 years.
People don't think about how quickly that time goes until the paperwork needs to be done. You're doing
a great job. I wanted to give you a report. I've done a little more work on the residential TIF idea.
I was going to ask you about that. I've had some good exchanges with Jackie at County Planning. She's
got a SPIA intern who is very interested in the project and the idea.
interested in participating in any meeting where we might do some discussions of it and is willing to
engage in doing some homework if we can figure out exactly what homework to do. I think we're getting
closer to that. Randy and I are going to get together and try and draw some lines on a map of possible
areas. Planning and the assessor are willing to work in establishing values and trends and values over time.
which is information we would need. I mean, people talk about, when I talk with people, they're interested
in it, but it's not quite clear what needs to be specified yet. So we're probably going to pick out
blocks of areas and say let's look at this block and then this block and then this block and can we
put those two together and how are we going to keep track of things
If we have a 25-year horizon on any kind of bonding, what might be reasonably expect to accomplish in
that period of time? There's still a lot of open issues, but I think we're beginning to get to the point
where we might have something where we can have some fruitful discussion in the, yet certainly towards
the end of this year or at the beginning of next year.
terms of what we might actually be able to do work on that project okay we have anybody online who has
any questions comments interrogatives of any kind seeing none I think we are ready to adjourn if I have
a motion to do so Richard thank you for doing that research on the
I appreciate that, because I can't do that right now. I know it interests you, but it's still work.
Jackie did a good job of outlining where development has occurred, what little has occurred, in the
areas that we've been looking at. And that's the big thing.
Now, what works in our favor is that the evaluation of the properties of some of those areas is going
up at a pretty good clip. So if we can start capturing some of that, that's the hope we've got is that
we can then capture some of that and do some good in terms of enabling residential development in those
areas at a moderate price rather than the McMansion price.
Okay. I move that we adjourn. We have a motion to adjourn and a second and a second. We are adjourned.
My next meeting is November 18th.