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Home My Public Portal About018-2014 - Authorizing funds for Stellar Project for 7th Street Park for Solar ShelterRICHMOND REDEVELOPMENT COMMISSION RESOLUTION NO. 18 -2014 A RESOLUTION AUTHORIZING THE EXPENDTITURE OF FUNDS ( "STELLAR COMMUNITIES PROJECT - 7"' STREET PARK" — SOLAR SHELTER) WHEREAS, the City of Richmond Redevelopment Commission (hereinafter "Commission ") has previously adopted a Declaratory Resolution, which has been amended, thereby establishing a Redevelopment Plan by which certain projects may be funded with excess Tax Increment Financing ( "TIF ") revenue; and WHEREAS, pursuant to I.C. 36- 7- 14 -39, such excess TIF revenues may be used for the purposes described therein; and WHEREAS, pursuant to the above actions, the amended project list includes various improvements to within the City of Richmond; and WHEREAS, pursuant to Indiana Code 36- 7 -32 -23 revenues received may be used for the purposes described therein, including the preparation of public facilities; and WHEREAS, The City of Richmond recognizes the need to stimulate growth and complete community and economic development projects to address various needs such as housing, beautification, infrastructure, street and roadwork, streetscape and lighting, community centers, and revitalization projects, economic development and other quality of life projects to benefit its citizens; WHEREAS, The City of Richmond has been named as a Stellar Community which is a collaboration between the Indiana Department of Transportation (INDOT), Office of Community and Rural Affairs (OCRA), and Indiana Housing and Community Development Authority (IHCDA); and WHEREAS, The Stellar Communities Program designation will allow grants and other financial resources to be allocated to the community to accomplish long range planning goals over a three year period; and WHEREAS, The Office of Community and Rural Affairs has allocated $1,500,000 in Community Development Block Grant Funds for Fagade Renovation and development of the 7`1 Street Park; and WHEREAS, A funding shortfall will cause the 7 "' Street Park to not be completed as designed and requested by community input; and WHEREAS, The farmer's market shelter component of the park can be accomplished via "solar shelters" of which 50% of the costs are being provided by RP &L as outlined in Attachment A. NOW, THEREFORE, BE IT RESOLVED by the Richmond Redevelopment Commission, that such Commission hereby approves and agrees to reimburse the City of Richmond and /or pay for Resolution 18 -2014 necessary expenditures, to fund 50% of the "solar shelter' for the 7'I' Street Park's farmer's market component, a Stellar Communities approved project. The funding shall be paid from excess TIF revenues received during the year 2013, 2014 & 2015, all of \\hich is allowed pursuant to the TIF Redevelopment Plan of 1989, as amended, previously adopted b\ the Commission. BE IT FURTHER RESOLVED that the above reimbursement and /or expenditures shall not exceed $170,000 or the allowable excess amount following the retention of all necessary funds for the reserve regarding the 2014 payments for bond principal and interest payments. THIS RESOLUTION IS ADOPTED this _t b_ day, of VW`Q 2014 RICHMOND REDEVELOPMENT COMMISSION By By By By By: Resolution 18 -2014 J _1,02 4Y J1`LJI A'"� City of Richmond Redevelopment Commission APPLICATION FOR REDEVELOPMENT COMMISSION (TIF or CTP) FUNDING Applicant Information Date: November 18, 2014 Name: Tony Foster/ Bill Tllistlethwaite Name of Organization: City of Richmond Address: 50 N. 5"' Street Email Address: tfoster!n,,richmondindiana.� .yov & billt!a�r-ichmondindiana.�7ov Phone: 983 -7211 / 983 -7276 Fax: 962 -7024 Is this a non - profit organization: X YES NO Project Information Project Location: Amount of Request: Loan or Grant: Duration of Funding: X One -Time C Multi- Period Source of Funding requested: X TIF CTP Parking Lot between N 6"' & N 7"' Streets across from MRL S170,000 Grant 7. Other (Explain): Duration: Page 1 of 4 Other sources of financing secured by the applicant (describe): This is a Stellar Communities Project. Funding includes Community Development Block Grant funds, TIFfunds, EDITfunds and Richmond Poirer & Light Funds. Level of financial participation by applicant for the project (describe): S1, 420, 000 (TIF, EDIT, RP &L) 5750, 000 (CDBG) i Project Details Purpose (Explain the project and attach drawings or plans if applicable): The overall project is the creation of an urhan park in the Tt' Street Pctrking Lot across from MRL to encourage and support investment in dcnrntoirn and support dolrntoirn living. A key _feature of the project is to have a shelter that serves as covered parking and, fcn-mer 's market space for the park. The cost of the farmer's market shelter is prohibitive cmd has lobe eliminatedfr�om the project. Former General M n tigcar ji-om RPSL, Jinn French, offered to help .fill the fundinggap for the_farmer's market vier the utilization of a pre fithric-ated solar shelter. Please see the attachments. Is the Project within the TIF or CTP District? X Yes n No (If not, explain how it would serve or benefit the TIF /CTP District): Explain how the project fits into existing community plans (such as the Comprehensive Plan, Downtown Plan, Transportation Plan, Park Plan. etc...): This project is part of the Stellar Communities Plarn ii•hich iras derived. ji-onn the Comprehensive Plan, Downtown Plan and etc. The project MUST fall within the parameters of the Redevelopment Commission Project List. Describe how the project falls within one or more of the required criteria. This projectfalls within 99 —Arts and Cultural Projects: Non- .cpecif'lrroject.s of this nature that may he proposed as part of the development of the arts or other cultural ctdditions to the areas of the Redevelopment Allocation Area. Will local contractors be used for the project? X Yes* No (Explain) *Per CDBG (.Stellar) grant guidelines, the project must he compt'titively hid. Page 2 of 4 RETURN ON INVESTMENT Estimated Potential new TIF Revenue: STBDX *The overall impact of the Stellar Communities Projects is and will continue to be measured to determine the impact on the community from an economic standpoint. Estimated Employment Opportunity: • New Jobs: • Retained Jobs: Other benefits to the community (Explain): This is a central project for the Stellar Communities Projects. .J sinnInarY or review of the projects can be provided at the meeting. 12304 Applicant Certification I understand that the submittal of this application does not guaranty, fi.mding and that the Richmond Redevelopment Commission will consider the merit of your project hased up on the benefit to the community, benefit to the TIF or CTP district, and how it complies with existing community plans. I understand that I will need to appear before the Redevelopment Commission to represent this request. I understand that my request is governed by state for Redevelopment Commissions (IC ) and /or Certified Tech Parks (IC ) and that the local Richmond Redevelopment Commission cannot consider a request that does not fall within those guidelines. I understand that I may be required to submit receipts and /or other documentation to the City of Richmond, Indiana State Board ofAccounts or other sources as part of the project. 1 understand that my request is considered public information and sources such as the local media may have access to this application. I understand that iffunded, memorandums of understanding anchor other may need to be drafted and funding may only be available to on a reimbursement hasis. I understand that my application will be considered in accordance with the timelines attached to this application and that timelines may be extended dire to unforeseen circirnustances. Submitted By (Signature): Date: Return completed application to Tony Foster, Department of Metropolitan Development, 50 North 5" Street, Richmond IN, 47374 or tfoster(W rich mondindiana.gov Page 3 of 4