Redevelopment Commission - Regular Meeting

And it's 7 something.

meeting order today for what is today the 11th 11th of December the last meeting of 2025 I'm going to skip right to Mr. pool so we can talk about um end of the year fund balances and um discussion about Amplifi's loan.

Okay, since my computer comes up, I'll plug in. So, we were waiting on seeing how segment the 300 North segment between 6 and 7 West came out for bidding. It came out for bidding yesterday. Got that last evening. Actually, we're actually at the uh Christmas lunch. It was good news. Um, we did some equivocacy with the dirt. So, we try to balance jobs within a job, but if we go to the whole region, we were able to make a few calls and do do like Ronald Reagan. We saved a ton of money, about $2.5 million on earth work. Surprisingly enough, people always think the road is asphalt that cost the most. It's moving dirt that cost the most on most road drugs. Um, so that's good news. I need to plug that new number into. And Cindy, what is our year end balance? I'm building a story here for [laughter]

um the cash is 7.3 million. So, we're in a year in cash balance of 7.3 million. We want it to be at Let me get there. Apologize. My computer decided it wanted to update. Right.

[clears throat]

what's our 2025? So where are we at city? 7.3 million. So of a 100red years in 2025, we would like to add landed average of 7.2 million. So we're aware where 7.3 7.3. So we're we're moving along as projected on our cash balances.

All right. Now, I need to make a modification here because next year instead of us being out $5 million going to be closer to 6 math here. I just got it last night. 6.8. [clears throat]

What was I do commitment on that? You remember their construction commitment? Go to Ann's handy spreadsheet. I'm going to lower that $5 million and that's going to free up some money for you guys. So, we're $100,000. We're on schedule. We're not as planned, but I lost my mouse thing.

It's in front of us now. other people work. I apologize, but the

Yeah, you know, here's all our projects. All those suckers are all our federal aated projects and dashboard. You ever want to look through these, you can. And you can see the status of our projects. I think Miss Shidler has a good product here. have 5.2 million scheduled for construction. So 8 1.6 6 million. And we also have our CE uh we'll call it 1 million. So 2.5 million, but let's lower this to 2.5. Back to our wrist sheet. This is really exciting. I know. I know. Now we're all So the first thing that happened, you notice we just became incredibly safe on all our stuff. Our chance of overring the bond just went to 100% everywhere. The council in this group wanted me to keep that above 90 at

all times. So our hurdle number one is checked. Um so that brings us to the conversation dour. If we were to add, you got three options with the school's unable to come up with a million dollars for their portion of the furniture out there. They were not able to raise it. You can loan them. You can loan them the money. Yes. A million dollars. You can give them the money or you can take the because remember we're we're funding the school. Yes. I don't want to give them the money because of our campaign.

Right. We have a campaign and we are we are collecting money tens hundreds of thousands of dollars. Now some of it's spread out over five years. Some of it's coming in at different ports. It's I still got the third option. Okay, go ahead. You guys need to debate this. Probably not going to solve this right now. You could also see how see how we were already sending school money. Yes. You could take three years, aggregate the next three years and just say there's your million dollars. We'll just frontload your three years.

Yeah. I don't know if I want to do that because that that's a so much a year for three years, right? And um that we've already kind of knew that was coming and everything. Um I me personally and you know we have to have a a consensus of course I I would say that we would have a member of understanding with the school that they could pay us back and if that happens that would be that's preferable. If a year from now that doesn't happen then we'll have to see what our numbers are. I have a fourth option you have to wait for January for cumde dev on the council side. So, I have another project, Steinmire Road. Okay.

Now, Steinmire Road, I don't think I'll be able to pull any of this magic on because one, I stole the idea from Hendricks County, and now if they see two of my projects hit low, everybody else in the region is going to do the same thing. And now all of a sudden, there's not going to be places to send dirt and do some of the dirt tricks, but and the project's already overprogrammed a lot. I don't know if I'm going to save that much out of it, but you could wait till January, and that might be a fourth option. You could pay it through council. Um, oh, CUCAP. But remember, Jim is talking CUCAP, too. So, you have four options to consider before our next meeting. I think we can't just give them the money unless we want to donate it through the campaign because the story we're telling the community. So, we can't just You get what I'm saying?

I'm just providing the options, not trying to raise the money. And here they have somebody, but that wasn't the intent of the thing was to front was to front the the money so they can buy the equipment and then, you know what I mean? because we have a time we have a time crunch. Yeah. And uh and I don't want to I I I don't want to dig into capital if we have cash balances and there's a utility project you guys are innocent too there. So but we have a cash balance and we are so we're going to have a shortfall the first year in operating this building upwards of $150,000. So I'm going to highly recommend we stay out of operational costs. Capital cost we can survive. Operational will bleed to death.

Yeah. You're you're talking about ongoing. Yeah. I'm talking about just for right now to focus on right now. Your options are right. That's not not not in anything else right now. One time loan. Yep. Yep. So, you have option to add $700,000 their current thing. You have the option of aggregating their future payments into a million dollars now. Okay. You have the option of giving them a loan and they pay it back, right? You have the option of waiting for how we do in the January letting because there's some tiff weirdness and see if you can do it from cumcap. There's your options. Yeah. Consider them. Okay. They can you can vote without me. Yes, we can. We have we have a thing. Let's make a decision. So, we're supposed to have 300,000 go into that school anyway in 2026.

Correct. Is what you're saying. So, really the only decision in my mind is whether we keep that 300,000 there or we add 700,000 to it to make a million. But that would mean that they would only pay us 700,000 back. You can create the option to pay it and then get an agreement passed on if you want to agree to how much to give them until we get the numbers from Stan. Remember, he was going to get But Stan Stan did approach me. Okay. Did he give you how much he needed? Yeah. He said a million bucks that um if he had a million dollars um to pay for equipment that would get him over the hump. Okay. And um [clears throat] so

you have my vote. I know he's got some other incidents, but he's got other income coming in too. You know what I mean? But that that's that's the ask. Um I think you're going to have to decide in January. I don't know if you have to decide now. Well, how soon can the I I won't they need to they need to start ordering it in January. Order the stuff. So that's why I wanted to um Now maybe we don't pay it till January. You could tell them you're going to give them the money, but it might be a loan and then figure that out in the future. Yeah. Or it could you could say, "Hey, we're going to give you the million." Always grant it to them later on

if if if a lot of the if everything comes to fruition as it's supposed to be. Okay. But I I think today if we vote and say, "Yeah, we're going to at minimum give you a loan of a million dollars and give it to you in January." If that's what you're suggesting, we wait till January. Then they can go ahead and order the start ordering the equipment now. Yeah. because you can't pay till January. It's not on the list. It takes months to get Yeah. paint booths set up and ordered and simulators and you name you name it. You know what I mean? So, your motion look like we we'll agree to fund the school $1 million with terms to to be determined at the January meeting. Yeah, that'd be fine

because you could you could pick up the you say, "Hey, we're going to do this, but there might be terms with it. It might be a gift. It might be a loan, right? It might be an aggregation of your future." I mean, I would prefer it be a grant, but I'm not saying that's for you guys to debate, right? I'm not saying that because someone may else, of course, people have different takes on hers is different, right? But Robin, can you fashion a um a motion? Probably. Okay. Um I make a motion that do you want it to be grant or a loan? Terms to be determined. To be determined. It could be either. It could be either what? Term to be determined. Okay. the terms to be determined in January for um providing a million dollars. Okay. Anything else you want out of our cash balances and for FFNE?

Mhm. Yeah. Well, for is that is FFN is is that simulators? Is that that's furniture furnishings and equipment? It is that it's equipment that's kicking our butt. It's the architectural term I would use. FFN would be a little more anything except for the building, right? No, the building's covered. It's the It's the stuff to get in the burnings in a Well, you you could even I guess you don't even do you have to put a tag on it. You don't have to. You can you could just say it's unrestricted because the reason I'm asking that is because he has to buy software and stuff like that also for curriculum. And he said I don't think anybody understands how much curriculum costs. Sure.

So that wouldn't be considered f. I don't. Why don't you just say a million dollars? Okay. Uh and then we'll determine later uh if it's a loan or whatever, but it'll this will allow them to to uh order their equipment. Okay. So, we will provide them with a million dollars and the terms will be decided in January of 2026. Y and anything else you want in there? No, they allow them to start their process right now, their bidding process or whatever they got to go through. Yeah. So, do you want us to be specific like Okay. Yeah. You get caught up in that. Yeah.

You just want Cindy and I be able to put a million dollar bill on the thing if possible that there's a motion to allow that. Yes. Absolutely. Okay. And we have a motion in a second. All those in favor? I oppose the same. Thanks. And remember, if you decide you don't want to pay it, you don't approve the bill. It's that easy. That's true. And and if later on if if they pay half of it back and we decide to give them the rest, we can do that, too. Yep. But they have a campaign going. They're very been very successful. They do have local big businesses that have already promised money, but there are five-year grants and the stuff isn't coming in fast enough to to go order. I understand. A $200,000 simulator. All right. It takes a while to get something like that. All right. We good? Yes, we're good. Thank you.

All right. Next item. Amplify is on schedule. The pipe job we were able to handle within the highway department and some other items we handled the highway department. They do want to do a walkthrough with your engineers which would be Shidler and I, Miss Shidler and I at some point in the near future. I already discussed the letting on 10 December that's allowed some of this to happen. Um, so we we did good there. Um, we'll review the fiscals in January February as we already just laid out right there. Our spend rate currently is as projected. Next year it's going to be a little bit hopefully in the positive because of the way the leting went is going to we'll pay this in January. Now that said you just you might have just added a million dollars back into it. So um

just one other item in dot with the inter I'm sorry I just want to ask a question. You had said before that we might be pretty tight in 26. Does that still hold true or are we doing better? We're doing better because of what we learned yesterday. Yeah, that that's what I was understanding when I wanted to be sure. If that bid had gone the other way, Mhm. we'd be we'd be having a very different conversation right now. Um, I'm good. And it looks like it's going to mirror this year. I mean, if we had 7 million left in cash at the end of the year, it looks like it's at least that next year, probably.

But I don't want to understate this stuff doesn't happen all the time. We took a three-point shot and hit it. They don't always hit. So, we can't just we can't always rely on a couple million dollars liability laying out that we won't know till June. No, we're we're good right now. Okay. Our 2026 picture just got clear. Yeah. Okay. Super. Now, what's not clear, INDOT might ask to renegotiate some of their contract on the interchange. And what I said is if you want money earlier for rideaway, we're going to reduce our $20 million. Yeah. Because there's inflation. It cost us more to $20 million is worth more now than it is five years from now. Right.

So if they want to move it up, I'm down with that if it makes the project work better. But we're going to call back some of our money. Right. So that is being talked about at the staff level. And if that goes any higher, I'll let you know if we need to modify anything in the big the big picture. Mark, do you know when your bill will come for the roundabout? the you talking about the the whiting project. It's not a roundabout your project. Um in February um so it's going to be first first half of the year before June or after June. Yeah, it probably be around June is what I would expect.

Around June. That makes my fiscal stuff tricky. [laughter] Is um as for before and after and you say honest. Okay, we'll plan on before. Are all the roundabouts done except for seven west and three north? McCorville has a series of besides McCordsville's. Yeah. Okay. Are Oh, I take that back. Way down south, Steinmire will have a roundabout. Oh, okay. All right. That's outside this this board's purview, though. Okay. Um, that's all I got. Super. Invoices now. Well, I'm glad Six West is done. I'm glad Forville Pike is done. Oh my gosh. go to the other end of the county for a while and screw those people up. [laughter]

I do my best leave us alone and leave Fortville alone up there, you know. Hey, [clears throat] we had a good year. We only had one fatality on county roads and it was on a kid on a motorcycle. You know how hard it is to get from Greenfield to McCordsville if you don't want to go straight up nine and then straight over or something because Forvville Pai's closed. Okay. Six West is closed. [laughter] It's like is open. It's open now, but I had to go up there a few times in the middle of the day and I was like, I'm driving through the country. I thought I'd be might as well be picking trash up. It's a nice Well, we pick up trash in the country all the time. [laughter] They do. Um, they're open now.

Okay. Thank you. All right. So, while Gary's up there, I would ask that we approve the invoices. So, if you have any questions, I don't I move to Oh, go ahead. Yeah. No, you go ahead and I'll second. I move to approve invoices for $37,208. I second. All those in favor say I. I oppose the same. Thank you.

Thanks, Gary. Um I would also um entertain a motion for minutes for last month's meeting. I move to approve the meeting minutes for November 13th uh meeting 2025 and I uh second that. All those in favor say I. I oppose the same.

Thank you and minutes are approved. Um there's other [sighs] things [gasps] for information there only uh but the Amplify project is on budget on time and um it's only the um incidentals that we're fighting right now. I I will say in this public meeting, I had a meeting with uh one of the councilmen from Greenfield City and they have a project coming into Greenfield and he said the reason they picked this location, not another location that had more incentives, was because of the workforce development program we have, which mean which is the training center, the trade school, because um that's going to start drawing the big companies because we're able to provide a workforce.

Yeah. You want to share with them what you did with about that company that chose us because we have the trade school. Well, that's Yeah. Yeah. They they had we we got beat out by $25 million worth of incentives. um which on a big big projects that's not a lot lot over over 10 years or whatever but um they don't the area is that they don't have a trade school. They don't have a way to to uh uh ensure that they're going to have workers or have skilled workers and uh we are one of the only ones in the in the whole region now that that's going to have that. So it's um it's paying big fruitions. A well educated citizen is a good citizen.

Yes. We have your benefits us all. Well, um and ever since I grew up, you got a job and left the county. Okay. That's that was my mentality. That was my I had 350 kids graduate from Greenfield in 1981. And that was the mentality. You couldn't work. You couldn't stay local. And you go get a college education, go off somewhere. And that's not that's that's not the future world. The future world is you get a skill and then we have the the jobs the skilled jobs here and you stay. Yeah.

It's it's not any better anywhere else. And and our ratings for our school systems, our ratings for our safety systems, our rating for our taxes have skyrocketed in the last few years when you compare us to the rest of the country. And so, all right. Well, uh, any other business? You have anything else, Gary? Nothing. I do not ever have a merry Christmas. I'll um entertain a meeting to adjurnn. Move to adjourn. Second. All those in favor? I. I. Thank you. Merry Christmas everybody.