Redevelopment Commission - Regular Meeting

That's why we have multiple people on council so you have a good debate and find the best thought ideas stand on their own. Anyway, we got to get going. Okay, I'm going open the meeting for um today for Thursday, August 14th and um probably in the bottom. The first item on the agenda is to approve the minutes from July 10th. So I don't obtain a motion for that. I'll make that motion that we approve the minutes for July 10th, 2025. I'll second that motion. Um, we have a motion, a second. All those in favor say I. I. Oppose. The same. Motion carries. And now it's time for Gary.

Okay. Keep in mind our cash balances you see on our spreadsheet are getting bigger. Right. But remember, right at the start of 2026, we're going to have some big payments. Um, I got five million for 300 North, 3.1 for Mccorsville and the good stuff Mark's got going on, and four million at some point that year for Amplify. Now, we're okay. Uh, we've got 6 million in cash. We'll have another 6 million come in. That put us about 12 million, and then we'll have another 2 million to pay for other things. But just keep in mind that it looks like we're getting nice and fat on cash. But remember, a lot of that money has already been spent. And I think we need to relate that to a few people because I think some people think we have tons of money because I Well, we'll take that out. I already said it's a cumul. It's a cumulative fund. and we have accumulated future expenses against some of those things.

But people need to know that it's not a However, I think Miss Shidler and I have some good news coming hopefully at the end of the year which will help that. But I don't want to tell you that until we got it landed. One quick question though. So we're accumulating and we're holding this till we have to pay this in another six or eight months, right? Correct. We need to hold on to some cash. Um so who handles the 6 million? It's just sitting in a non-interest bearing account. It's it's interest bearing. Not very much. which is like a checking account with um similar to all our other accounts that's sitting in the bank. Yeah. But if we're going to have $10 million in there soon, well, it's only going to be there for a few months. Yeah.

If you want to explore it, we can ask Mr. uh Simler about doing an investment, but I it like a six-month CD or something. I don't know. Okay. I just know that we get millions of dollars in interest from the other money.

We certainly do. And that's been a nice pickup. But anyway, we that might be something you if you see Mr. Simar offline, ask him about. But it's not going to be there for long. But in the future when we start saving up for that $20 million payment in 2031 for the interchange, that will be a lot of money that will have to accumulate over a few years. That will be hard because you're like, well, you're sitting on $10 million. You're sitting on $15 million. But you say, hey, in two years, we got $20 million payment. So keep that in mind. But anyway, moving on because we're in a hurry today. Rightway purchases are underway. Mr. Binky, did we get that all taken care of to send all that to the clerk? Every all of these are here ready for signature and then they'll be taken over to including the property owners. Yes. Okay. So, when that goes to the clerk, the information needs to go to Mr. Binky.

We are that we are hot on that one because I've got a deal in the fire and I need those to go in so I can try to peel several million dollars out of INDOT. But I need that clear first. Okay. So, that's important to me that that goes to Binky and important to me is important to them because they need more money. Um, Cune Bridge is paying for the pipe on 62. There was some miscommunication with Mr. Echoff, but we'll get that sorted out. Um, that Bridge is part of Amplify. It's part of my budgets.

So, it's completely outside of here. So, I've removed that was going to be a $900,000 pay out of here. Um, so I had to get directly involved in the stuff with it. I've reduced the contract to a functional project that's less, but I'm also paying for it out of somewhere else. So, that's $1 million we've taken away from you guys. You're not going to pay for well not 1 million, $900,000. Um, which we need every bit here. Um, we're working on 2 million add state funds for 300 North and we're having good work on that, but we do not have it landed yet. We'll know in after the letting in December. Um, roundabouts on 700 West and 300 North are and 500 North are underway. We're getting those designed and rightway will be coming soon on those. Um, McCordsville, make sure the council, you guys already voted on this. McCordsville is going to good partner, but we need to make sure that they understand. Where did I put that

real quick? What's RAB? Roundabout. Roundabout. Why wouldn't it just be RA? I sent this to you, Mark. Make sure your bosses know they need to do their

founding if it my spreadsheet will open. If you look at our outlays, these are committed all the way through Aurora. These are not committed. I'm still holding the money in here, but they need to they need to be doing their work with the council and the commissioners in this group one at a time. So, don't you as a a fellow staffer don't apply for that grant thinking you got the money until you got the money. So, is that part of that we signed for the 10 million that we're giving the 21 million? So

yeah, right now we're holding on these and that's 6.9 million. So we're call we're calling that green. We're calling like hey we're paying that so Mark can build stuff. But that one's that payout. You talked about that up above. What do you mean? 26 27 28 26 3.1 27 Okay. 28. Okay. And if Mark needs to slide these, we will. that I'm considering them committed because he had to get his projects done. He has to show a commitment. Gotcha. But what I'm telling Mark is you can't show this the 700 North roundabout. You can't show that as a commitment yet

till you get the the council stuff to say it's okay. We have theou, but they haven't said, you know what I mean? That's anou. We need to move a formal commitment.

Um let's go back. And that's it. I know we're in a hurry today. That is it. We are, we've got some good things going on. I think I'm going to put out some of the fires. Um, we've been doing the politics. I might have to go down the AIC and do some more politics there, but I think I can I think I can get you a few million dollars back on some of the damages we've taken and that will give you a little space. Um, but I can't promise that until after December. I might need help from the elected officials on a couple of the things. Bill's been handy because he's downtown. Um, and I also have uh Representative Shrie needs to help me out on a couple things. So, I might need help on the elected side on that. I'll call when I need it, which I will. So, all right, that's all I got. Okie do. Um, and the only thing left is to approve the uh invoices. And I'm assuming everything's in line with the budget um Gary for the Amplify construction fund stuff.

It it's in the range. Yeah. Okay. Well, we we did get the council got a week or two ago got a update from Amplify. I was at a meeting this week with Amplify. They're still on budget. They're still on time. And if there's a problem, it's Mary's fault. Can we vote on that? Can we vote on it? So, um we're trying. Um I would entertain um these are just the Amplify invoices and then there's other invoices besides that.

Okay. So, I'd entertain a motion to um to pay for the amply invoices at the tune of $1,41,299.99. So moved. Second. Um take Mary's. We have a motion and a second. All those in favor say I. I oppose the same. Very good. All right. Um then we have regular invoices. Um totaling that was the number regular invoices. That was the number invoices I think. Okay. So the

So do I need to revise my motion? Well the so the amplify invoices were those are just FYI. We don't need to vote on those. FYI because those come out of the bond not us. Yeah. These are those are just keeping you update on what's coming out of the thing. Okay. Can I ask a question? I think the Amplify Construction Fund payment number nine, that's JQOL, not QQ, right? That's correct. That's JQ. Okay, that's what I thought. That's all right. I just wasn't sure who that company was. All right. Yeah. Are they structural on that

or civil? Well, if that was the invoices, um then do you want um do you want us to vote again and have him Well, I mean it's that's the right number. It's the right number, but it's for all the invoices. Okay. I think that's what it's just FYI. Just Yeah. And they amplify bomb payments in that too. That was our that was made in Okay. So what you wrote here was really what the July payment is paying.

So the amplify Yes. The rest of the invoices are so we just included it in this just so like FYI, right? Sure. So we paid our first bond payment basically because I know it's it' be due in July. Yeah. So your motion included all the invoices, right? Yes. He just said he said and I second that. Okay. All those in favor. All right. All right. Um seeing no other further business unless Gary's got anything. No. Keep in mind hopefully we get things fixed. You want me to keep you under a 90% go rate. We're good on that till 2031

with our current thing. So that's why I'm panic like you know not panicky but I'm like hey we are under that risk range. We're outside of it in 2031. I'm hoping we can get things stabilized uh after December. The only thing I've seen that's going to come down the pike um that you'll probably have a conversation with commissioners about is um the fire departments are all floating around all these big things they want everybody to pay for. Okay. You can see what we've allocated for sheriff and fire under the expenditures. Well, I know. No, this is above and beyond all that. Yep. Because uh you've got millions of dollars. you're hiding under your mattress. Um, I'm not hiding it. It's right here.

And, uh, they'll have to, it's in your computer. Everybody's going to have to be patient. So, if we're successful this winter, that will free up a couple million dollars, but let's wait until we have the rabbit. And I don't know how much of it we're we're going to agree to fund and all that, but the Buck Creek Township got up yesterday and basically said that uh um you know that that they're so under staffed and so under this and that they can barely live. But Creek Fire Department.

Yeah. So it's going to it what happens to fire departments is every year they come up. That's why in most states, especially like California and stuff, fire departments are the biggest entities in the government because they all come up and oh, you know, so it's almost like we can never give them any money. We don't start adding other miscellaneous public safety. We use we have some inflation going on for the sheriff because I want to make sure that his people are still covered out there. We've still got Buck Creek covered that that threequarters of a million. We're we're only a year or two out from having um some additional funding to take care of some additional issues.

2028 another 200,000 starts loading in and we start inflating that up too, right? So, so that's the plan. It people just got to be patient. So, we can't give them something we don't have. I'm trying my best. If I can free up some more money in December, that'll free you guys up a little bit. I don't know if but we cannot promise that until we got it. I don't know if Walmart will continue with their process or not. If they do, that'll be some additional money. If they don't, it's not. And we do want to get that 87% back up to 90%. So, okay,

there's things to use the money for in the future, but we got to be patient. I'd rather have it set up so we know what we're spending it on ahead of time rather than be setting on money and then it's set up and shooting at the hip. You know what I mean? But like I said, that's just a spreadsheet Gary Pool made. I'm not elected nor am I in charge of anything, but it's just a guideline so at least people have some idea of what has been talked about. So people have some idea. You can change that.

Yeah. Um, well, I know that's what I mean. They'll be prioritized once once we get past the pinch scenario. There'll be prioritizations that happen. There's going to be a lot of rechange of prioritizations if the state doesn't come through with the grants. So, yep. All right. Thank you. Um, I would entertain a motion to adjurnn. I'll motion to adjurnn. Second. All those in favor? I. We are adjourned. Thanks for coming. Thank you. Thanks Gary for your time.