HomeMy Public PortalAbout12/12/1995 specialC ity of Greencastle.
City hall
• Pour East Walnut Street
Greencastle, Indiana 46 i 35
Don Weaver. Clerk - Treasurer
GREENCASTLE COMMON COUNCIL
Special Session
Joint Meeting with
CITIZENS ADVISORY COMMISSION FOR INDUSTRIAL
DEVELOPMENT (CACFID)
December 12. 1995
(corrected)
The Greencastle Common Council met in special session in ajoint meeting with the Citizens
Advisory Commission for Industrial Development (CACFID) on Tuesday. December 12, 1995. at
6:30 pm. in the Media Center at Tzouanakis Intermediate School. The meeting was called to order
by Mayor Michael Harmless at 6:33 p.m. On the Common Council Roll Call. the following
members were found to be present: Councilor Hammer, Councilor Miles, Councilor Roach and
Councilor Rokicki. On the CACFID Roll Call, the foilowine voting members were found to be
present: Commissioner Nelson Ford, Mayor Michael Harmless, Commissioner David Jackman, and
• Commissioner David Murray. Also present were Nlr. Bob Evans and Mr. Ted Willer, representing
the Putnam Countv Foundation.
Discussion of Proposal to Transfer Industrial Development Funds to the Putnam County
Foundation:
Mayor Harmless pointed out that the law reads that action of this type must start with
CACFID. Thev recommend to Council. Council gives final approval.
Commissioner Jackman said. "I support it."
At this point, 6:40 p.m., CACFID Ex- Officio Member William Marley arrived.
At this point. 6:41 p.m., Common Council President Sue Murrav arrived.
Councilor Rokicki asked, "How much are we discussing ?" Mayor Harmless responded.
"S500.000."
At this point, 6:45 p.m., City Attorney John Zeiner arrived.
Commissioner Murray stated. "The ability to preserve these funds permanently, but still have
the ability to borrow against them are all positives."
City Attorney Zeiner distributed draft copies of the document entitled, "Designated
Endowment Fund Agreement between Putnam County Foundation. Inc. and Citizens Advisory
Commission for Industrial Development and the City of Greencastle ( "The Ageement "). He
pointed out that there are no fees for the administration of this monev Commissioner Ford asked.
"John, <an you craft a statement that provides absolutely that funds will be available to CACFID and
the City' ?" Zemer replied, "No, I don't think it's possible to be absolute." Mr. Bob Evans entered the
• discussion, stating, "The Foundation would look favorably on a long -term (20- years, for example)
grant of income from .ohe Lilly -match to some Community Development activity, such as
Greencastle County Development Center funding." Mr. Ford returned to his point, asking,
"�Nhat control over the ;itnds will the Citv still have'. " Referrinu ;o Section 5. of The A' _,reemenr.
Mr. Zeiner stated, "With 15 0 , 1 0 of the Board being City /CACFID appointees, they will provide
leadership for the Foundation."
Questions were raised about the acceptability by IRS and Lilly of some of the changes
proposed in Section 5. Some suggestions for wording changes were made by participants in the
discussion and duly noted by Mr. Zeiner.
The discussion turned to amounts other than the 5500,000 initially mentioned. When it was
suggested that perhaps the entire S 1,000.000 could be transferred to the Foundation immediately and
then the Foundation could "invest" in the Airport Expansion project to which CACFID money is
already committed, Mavor Harmless stated, "I can't see how going from 1/2 Million to One Million
can avoid negative short-term effect on taxpayers." Mr. Evans stated, "Something in the S600,000
to 5700,000 range is what's needed [between now and December 31 st] to get the maximum Lilly
match."
At this point, 7:30 p.m., Mayor Harmless. the presiding officer, noted that Council has a
public hearing and its regular monthly meeting scheduled at this hour. "We obviously can't vote
tonight," he said. Councilor Roach reported that he has received many public comments "NOT to
give up elected - official control." He pointed out that if the Foundation invests endowment principal
in City projects, it will be paid back with tax dollars Councilor Miles expressed agreement with
Mr. Roach's concerns. Mr. Zeiner stated, "The basic question is, 'Do the positives (additional 'Lilly
match, etc.) outweigh the negatives (loss of control, etc.). "'
Mayor Harmless asked it each «coup wants to continue. For CACFID, Commissioner
Jackman moved that CACFID continue the process. Commissioner Ford seconded the motion and
it passed on an ave unanimous (4-0) vote of voting members present. For the Common Council,
Councilor Murray moved Council continue the discussion. Councilor Viiles seconded the motion
and it passed on an aye unanimous (5 -0) vote.
By consensus. the meeting adjourned at T47 p.m.
�ichaei Y1. Harmless, _ Mavor
ATTEST: f� ;
Donald L Weaver. Clerk- Treasurer
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