valparaiso redevelopment commission

VALPARAISO

Meeting Agenda: Thursday, January 12, 2012 (Note New Date)

5:00 P.M. Executive Session: Commission members will meet withattorneys and staff to consider the acquisition and disposition ofreal property and pending litigation.

5:05 P.M. (Immediately Following Executive Session, whichever occurs later)City Council Chambers, City Hall, 166 W. Lincolnway

1. Swearing in of Members (Patrick Lyp)

2. Election of Officers

3. Approval of Minutes of the December 14, 2011 Meeting (John Bowker)

4. Financial Report (Sharon Swihart/Stu Summers)

5. Adoption of 2012 Budget for Project Expenses (Stu Summers)

6. Payment of Annual VEDC Dues (Stu Summers)

7. Update on MOTD Development (Stu Summers)

8. Approval of 2011 Annual Report to the Mayor (David Smith)

9. Any Other Business to be considered by the Commission

10. Public Comment

11. Adjournment

Future Meetings: (Dates subject to change) 5:05 p.m.

• February 8, 2012 • August 8, 2012• March 14, 2012 • September 12, 2012• April 11, 2012 • October 10, 2012• May 9, 2012 • November 14, 2012• June 13, 2012 • December 12, 2012• July 11, 2012

RedevelopmentCommission

President

David P. SmithSmith Ready Mix

Vice President

Laura CampbellCentier Bank

Secretary

Jon DistonSpangler, Jennings

& Dougherty

Members

John BowkerCity Council

Member

Jan M. DickCity Council

Member

Advisory Member

James L. JorgensenValparaiso School

Board Member

Executive Director

Stu Summers

City Hall166 W. LincolnwayValparaiso, IN 46383

219.548.4826219.464.4273 FAX

Agenda Item #2

_____________________ moved that the Commission elect the following slate of officers for

2012:

Laura Campbell President

Jon Diston Vice President

David Smith Secretary

And that ______________________ and _____________________ serve as assistant secretaries.

_____________________ seconded. Motion carried.

Agenda Item #3

-1- December 14, 2011 Minutes

December 14, 2011 VALPARAISO REDEVELOPMENT COMMISSION

MEETING: Valparaiso Redevelopment Commission LOCATION: City Council Chamber

SUBJECT: Minutes of the December 14, 2011 Meeting

IN ATTENDANCE:

Members: Administration:David Smith Jan Dick Stu Summers Craig PhillipsJohn Bowker Laura Campbell Patrick Lyp Abigail IgartaJim Jorgensen

ABSENT: Jon Diston

OTHERS IN ATTENDANCE:

Lester BlytheMichael BlytheMike ConnorsBob CollinsMark MillerKent PollackZack RobinsonBrad WhiteCarrie WhiteMembers of the public and news media

5:30 P.M. City Council Chambers, City Hall

Following is a Summary of Discussion:

President David Smith called the meeting to order at 5:30 p.m. and noted for the record that allmembers were present except Jon Diston. He asked the Commission’s unanimous consent toappoint John Bowker as acting Secretary. Mr. Dick moved to appoint Mr. Bowker as actingSecretary. Ms. Campbell seconded the motion. Motion carried, 4-0.

Approval of Minutes for November 9, 2011

Mr. Bowker reported that he had reviewed the minutes of the November 9, 2011 meeting andfound them to be an accurate record of the meeting. Mr. Bowker moved for adoption of theminutes; Mr. Dick seconded the motion. Motion carried, 4-0. A copy of the minutes is attachedhereto and made a part hereof and is posted on the City website.

Item 2: Financial Report

Mr. Bowker presented the November 2011 RDC Financial Statement. There were no correctionsor additions to be made to the financial report. A copy was emailed to Commission members, is


posted on the website, and is attached to these minutes. A motion and second were made by Mr.Bowker and Ms. Campbell, respectively, to accept the financial report. The motion carried 4-0.

Item 3: Calumet Façade Grant Applications

Mr. Phillips presented two applications for Calumet Avenue Façade Improvement program fromthe following:

Mark Miller of Pieces Furniture, located at 905 Calumet Avenue Mark Miller of Aloha Pools, located at 907 Calumet Avenue

Applications for both of these properties are attached hereto and made a part hereof theseminutes. Mr. Phillips recommended that the Commission approve a loan/grant of up to $25,000for Pieces Furniture and $25,000 for Aloha Pools.

Mr. Phillips then presented three applications for the Balance of Calumet Avenue FaçadeImprovement program from the following:

Bob Collins of Wise Way, located at 2800 Calumet Avenue Blythe Family of Blythe’s Sporting Goods, located at 2810 Calumet Avenue Brad and Carrie White of Jack White Business Center, located at 210 Elm Street

Applications for these properties are attached hereto and made a part hereof these minutes. Mr.Phillips recommended that the Commission approve a loan/grant of up to $25,000 for Wiseway,$25,000 for Blythe’s Sporting goods, and $25,000 for Jack White Business Center. In addition,Mr. Summers requested that each property owner, with the exception of Brad and Carrie White(since sidewalks already exist), grant a 10’ landscape and sidewalk easement for the propertiesalong Calumet Avenue.

Mr. Summers stated that if the Commission chose to fund all of these requests, $125,000 wouldhave to be moved from the Calumet Avenue streetscape budget to the façade loan budget. Mr.Bowker moved that the Commission:

transfer $125,000 from the Calumet Avenue streetscape budget to the Calumet AvenueFaçade loan budget,

approve Mr. Miller’s (Pieces Furniture) application for an amount up to $25,000 subjectto a 10’ landscape and sidewalk easement along Calumet Avenue,

approve Mr. Miller’s (Aloha Pools) application for an amount up to $25,000 subject to a10’ landscape and sidewalk easement along Calumet Avenue,

approve Mr. Collins’ (Wiseway) application for an amount up to $25,000 subject to a 10’landscape and sidewalk easement along Calumet Avenue,

approve the Blythe Family’s (Blythe’s Sporting Goods) application for an amount up to$25,000 subject to a 10’ landscape and sidewalk easement along Calumet Avenue, and

approve Mr. and Mrs. White’s (Jack White Business Center) application for an amountup to $25,000.

Ms. Campbell seconded. Motion carried, 4-0.


Item 4: Consultant Contracts

Mr. Summers stated that the Commission does not employ any staff and relies on consultants asa cost-effective way to secure grant writing services, financial consulting, or legal consultation;he requested the Commission to approve consultant contracts for such personnel. A memodetailing the consultants and their services is attached hereto and made a part hereof theseminutes. Ms. Campbell moved to execute such contracts with Cypra and Associates; Cender andCompany; Blachly, Tabor, Bozik, and Hartman; Barnes & Thornburg, LLP; and Baker andDaniels. Mr. Bowker seconded. Motion carried, 4-0.

Item 5: Bid Opening, North Coast building

Mr. Summers reported that there were no bids submitted for the purchase of the North Coastbuilding. An email from Chief Deputy Clerk-Treasurer Karen Conover stating this is attachedhereto and made part hereof these minutes. On November 21st and 28th, legal notices werepublished in the Post-Tribune and Times to solicit offers to be submitted by today at 4:00 pmCT. A memo detailing the bid solicitation is attached hereto and made a part hereof theseminutes. No action was taken.

Item 6: Request for Qualifications, Real Estate Broker for North Coast building

Since no bids were submitted, Mr. Summers recommended that the Commission retain a realestate broker. A memo detailing the broker solicitation is attached hereto and made a part hereofthese minutes. Mr. Dick stated that the Commission received Request for Qualifications (RFQ)proposals for the sale of the North Coast building. Submissions received include the following:CBRE, Century 21 Alliance Group, Commercial In-Sites, Jones Lang LaSalle, NAI Hiffman,and Williams Commercial Real Estate Services. Mr. Dick reported that a special reviewcommittee of the Commission, comprising of Jan Dick and Jon Diston, had been appointed byPresident Smith to review the proposals. Mr. Dick reported to the Commission that theunanimous first choice is NAI Hiffman. Mr. Summers added that if NAI Hiffman is not able tosell the building within twelve months, the Commission will turn the building over to the Boardof Works, so that it may be used as a Public Works campus. Mr. Dick moved that theCommission retain the real estate brokerage services of NAI Hiffman. Ms. Campbell seconded.Motion carried, 4-0.

Item 7: Lease of North Coast building to North Coast Distributing

Mr. Lyp reported that the Commission is scheduled to close on the purchase of the North Coastbuilding the week of December 19, 2011. At that time, the Commission will then lease thebuilding back to North Coast Distributing (at a rate of $30,000 per month and $1,000 per diemfor the balance of December). A memo detailing the lease of the North Coast building isattached hereto and made a part hereof these minutes. Mr. Summers recommended that theCommission pass a motion for the following:

appropriate $2,100,000 from the fund balance to the North Coast project budget, transfer the remaining balance in the Speculative Industrial Park budget ($1,900,000) to

the North Coast project budget, and allow this $4 million to be used for the execution of


the previously-approved real estate purchase agreement (if not used in 2011, the fundswould automatically be carried forward to 2012, if needed for purchase),

authorize Mr. Lyp to draft a short-term lease of the facility to North Coast Distributing, authorize the Commission’s officers and Executive Director to close on the sale of the

building and execute the lease, and authorize Anton Insurance to add the building to the City’s insurance policy at an annual

premium of $6,975.

Mr. Bowker requested that City Attorney Patrick Lyp include language allowing NAI Hiffmanaccess to the property during the lease for purpose outlined in the listing agreement, and Mr. Lypagreed.

Mr. Dick moved that the Commission authorize the aforementioned recommendations; Ms.Campbell seconded. Motion carried, 4-0.

Item 8: Funding to Valparaiso University to Support Zipcar Demonstration

Mr. Summers stated that the Walker study of East Gate parking predicted there would eventuallybe a shortfall in parking spaces as development continues. Mr. Summers said that car sharing isa potential cost-effective solution. Mr. Summers recommends that the Commission support theprogram with Valparaiso University by providing the University $10,000 for the start up,marketing, and administration of the Zipcar program. Mr. Summers added that starting inJanuary 2012, two Zipcars will be placed on campus (near the union and V-Line bus stop) toserve the entire Valparaiso community. A memo detailing the Zipcar program, a letter fromValparaiso University, and a Zipcar article are attached hereto and made a part hereof theseminutes. Ms. Campbell moved that the Commission approve a grant of $10,000 to ValparaisoUniversity for the Zipcar program from the budget for brownfield and environmental greeninitiatives. Mr. Dick seconded. Mr. Bowker recused himself from voting. Motion carried, 3-0with one abstention.

Item 9: Funding to Match ChicaGo Dash Grant

Mr. Summers said that the City submitted a grant application under the Federal HighwayAdministration’s (FHWA) Congestion Mitigation and Air Quality Improvement (CMAQ)Program for $1,280,000 for the ChicaGo Dash Expansion project, which includes the purchase ofan additional bus and the addition of a fourth route. A memo detailing the ChicaGo Dash Grant,a letter of support from the Commission, and ridership charts are attached hereto and made a parthereof these minutes. The Commission is asked to supplement the grant with $150,000 tocontribute to the 20% local match required for the first year. The additional local match moneywill come from the fare box. Mr. Dick moved that the Commission appropriate $150,000 fromthe unused funds in the East Lincolnway budget to the TOD project and authorize the transfer ofthe $150,000 to the City’s ChicaGo Dash transit fund. Ms. Campbell seconded. Motion carried,4-0.


Item 10: Trees – Parks Dept. Match to Donation

On behalf of the Valparaiso Parks Department, Mr. Summers presented an invoice for the TreeFund Donation Match (for the planting of trees along Cumberland Drive between Vale Park andBulls Eye Lake). The billed amount for the period July 1, 2011 – December 5, 2011 is$3,321.74. A memo detailing the Tree Fund Donation and an invoice from the Parks Departmentare attached hereto and made a part hereof these minutes. The Tree Fund matching fund wasestablished at the September 8, 2010 meeting. Mr. Summers reminded the Commission that itauthorized a payment of $1,631.44 at the August 10, 2011 meeting. Mr. Bowker moved that theCommission authorize a payment of $3,321.74 from the Brownfield/Greenfield budget. Mr.Dick seconded. Motion carried, 4-0.

Item 11: Downtown Budget

Mr. Summers reported that INDOT will postpone opening bids for the downtown traffic signalsuntil February 8, 2012. The project is estimated to cost $625,000, and the Commission isresponsible for providing the required 20% local match. The local match will be about $125,000and will be included in next year’s budget. Mr. Summers added that about $397,320 of 2010bills for the Central Park Amphitheater were not paid until 2011. A memo detailing thedowntown budget and an expense spreadsheet are attached hereto and made a part hereof theseminutes. In order to have sufficient funds in the Downtown budget, Mr. Summers recommendedthat the Commission transfer $400,000 from the unused funds in the East Lincolnway budget tothe Downtown budget. Mr. Bowker moved that the Commission transfer $400,000 from the EastLincolnway Budget to the Downtown budget; Ms. Campbell seconded. Motion carried, 4-0.

Item 12: Adoption of 2012 Budget for Ongoing Expenses

Mr. Summers stated that the annual budget has two basic components: recurring expenses andproject expenses. For 2012, a substantial portion of the potential project expenses relate to the$3.4 million match to the TIGER grant. By early February 2012, the U.S. Department ofTransportation will notify the City if it was awarded the TIGER grant. If the grant is notawarded, the $3.4 million would be allocated to other budget items. Mr. Summers recommendedpostponing adopting the 2012 project budget until the February meeting and adopting a budgetfor recurring 2012 expenses. A memo detailing recurring expenses is attached hereto and made apart hereof these minutes. Ms. Campbell moved that the Commission adopt this budget forrecurring 2012 expenses:

Debt Service, $726,013 Project Management

o City Services, $100,000o Legal Services, $75,000o Financial Services, $77,000o Grants, Director’s Office, and Other Total Project Management, $228,070

Safety Equipment, $300,000

Mr. Bowker seconded. Motion carried, 4-0.


Any Other Business

President Smith called for any additional business.

Mr. Phillips presented an additional application for the Balance of Calumet Avenue FaçadeImprovement Program from Mark Connors of Boy-Conn Printers, located at 801-803 GlendaleBoulevard. Mr. Connors’ application is attached hereto and made a part hereof these minutes.The Planning department has reviewed the application and identified $3,257.00 of authorizedimprovements under the current façade plan, and as such, the maximum reimbursable amount is$1,085.67. Mr. Summers requested that Mr. Phillips work with Mr. Burkman to determine thepossibility of a landscape and sidewalk easement. Mr. Dick moved that the Commission approveMr. Connors’ application for an amount of up to $1,085.67, and Mr. Bowker seconded. Motioncarried, 4-0.

There being no additional business, President Smith opened the meeting for public questionsand/or comments.

There were no further questions and/or comments from the public.

ADJOURNMENT

Mr. Bowker moved to adjourn, and Mr. Dick seconded. Motion carried 4-0. The meeting wasadjourned at 6:25 pm.

Respectfully submitted by,

John BowkerActing Secretary

Future Meetings in 2012: (Dates and times subject to change) 5:05 p.m.

• January 11, 2012 • July 11, 2012• February 8, 2012 • August 8, 2012• March 14, 2012 • September 12, 2012• April 11, 2012 • October 10, 2012• May 9, 2012 • November 14, 2012• June 13, 2012 • December 12, 2012

City of Valparaiso, RdC

Financial December 2011Agenda Item #4

Consolidated

Valparaiso

Allocation Area

YTD

Debt

Reserve

Debt

Reserve

YTD

Combined

RDC Fund

YTD

Cash Bal 1/1/2011

Cash Balance 12-1-2011 13,447,926.47$ 468,900.00$ 15,752,374.65$

Revenues:Taxes (TIF Revenue) 1,912,862.08$ 4,884,031.45$ 4,884,031.45$Purchase Investments -$ -$ -$Interest Income 3,536.94$ 80,148.71$ 80,148.71$Levy Replacement -$ -$ -$Contributions 4,625.00$ 172,625.00$ 172,625.00$Sale of Property -$ -$ -$Transfers -$ -$ -$District Sewer Fees -$ 78,320.00$ 78,320.00$Miscellaneous 389.32$ 187,106.01$ 187,106.01$Rental Income -$ -$ -$Reimbursement -$ 849.70$ 849.70$CVET -$ -$ -$Bond Anticipation -$ -$ -$Tax Abatement 11,920.00$ 21,477.00$ 21,477.00$Temporary Loan -$ -$ -$Medical TIF -$ -$ -$RDA Grant 10,731.27$ 66,019.04$ 66,019.04$State Aid 23,239.62$ 63,231.54$ 63,231.54$Bond Proceeds -$ -$ -$

Total Cash Revenue 1,967,304.23$ 5,553,808.45$ -$ -$ 5,553,808.45$

Sale of InvestmentsTOTAL REVENUE 1,967,304.23$ 5,553,808.45$ -$ -$ 5,553,808.45$

Expenditures:

Unappropriated 4,504.85$ 4,504.85$ 4,504.85$Director/Other Expenses 15,766.20$ 188,817.50$ 188,817.50$Members Stipends -$ -$ -$Legal Fees 8,273.50$ 50,417.20$ 50,417.20$Financial Consultants -$ 45,156.98$ 45,156.98$City Staff Reimbursements/GIS -$ 100,000.00$ 100,000.00$Contingency -$ -$ -$Economic Development -$ 8,000.00$ 8,000.00$Debt Service 365,975.00$ 446,950.00$ 446,950.00$Office Expense 643.76$ 13,343.46$ 13,343.46$Cumberland Crossing Debt Ser. 220,125.00$ 275,550.00$ 275,550.00$VU Link -$ -$ -$MOTD (Medical Office Technology) -$ 159,065.62$ 159,065.62$Educational Challenge Grants -$ 150,000.00$ 150,000.00$Triangle Roundabout -$ 212,601.63$ 212,601.63$Vale Park East 60,778.80$ 816,935.46$ 816,935.46$Brownfield/Environmental/Art 33,321.74$ 39,953.18$ 39,953.18$Certified Technology Park -$ -$ -$TOD 167,398.73$ 773,034.24$ 773,034.24$Silhavy Road 25,083.70$ 377,753.87$ 377,753.87$Laporte VU Ring Road -$ 6,149.10$ 6,149.10$Speculative Industrial Park -$ 31,724.01$ 31,724.01$Central Calumet 16,779.32$ 120,567.07$ 120,567.07$Calumet Vale Park to Bullseye 3,500.00$ 47,372.15$ 47,372.15$East Lincolnway -$ 12,356.12$ 12,356.12$Downtown Streetscape 255,670.34$ 1,961,260.83$ 1,961,260.83$Cumberland Crossing -$ 59,839.65$ 59,839.65$Public Safety Equipment 50,000.00$ 350,000.00$ 350,000.00$Northcoast 201,497.62$ 600,018.04$ 600,018.04$

Total Cash Expenditures 1,429,318.56$ 6,851,370.96$ -$ -$ 6,851,370.96$Transfers out -$ -$ -$

Temporary Loan -$ -$ -$TOTAL EXPENDITURES 1,429,318.56$ 6,851,370.96$ -$ -$ 6,851,370.96$

Money Market Account: 12-31-2011 13,985,912.14$ 468,900.00$ 14,454,812.14$

Certificate of Deposit to 7/16/2012: $500,000.00

$14,954,812.14TOTAL FUNDS:

VALPARAISO

Agenda Item #5Wednesday, January 04, 2012

To Members of the Redevelopment Commission

Subject: Annual Approval of Budget and Financial Plan

Summary and Recommendation:

In December, you approved the 2012 budget for operating expenses and held off onproject expenses until we learned about the TIGER grant. Valparaiso was not awardedthe TIGER grant, and we can now go forward with approving the 2012 budget.

The proposed budget is attached, along with the resolution approving the budget. Irecommend your approval.

Policy Analysis:

Most of the money will be spent on previously approved projects. A couple of newprojects include:

1. Expanding the allocation area to include US 30.2. Moving the façade loan program from the Calumet Corridor to

a. East Lincolnway (between Morgan and Roosevelt)b. US 30

3. Funding to acquire real estate and expand Central Park Plaza.

Financial Impact:

The proposed expenditures of $18,287,321 include $1 million in “Contingency andReserve for Revenue Loss.” The expert estimates from our financial advisors are thatTIF revenue will grow from $4.9 million to $5.4 million.

Given the continued uncertainty regarding Indiana’s new 3-2-1 tax caps, and hundreds ofunresolved assessment appeals, I am skeptical if we can indeed achieve a 10.2% increasein TIF revenues. Indeed, there is a reasonable chance that Valparaiso could actuallyexperience a decline in actual TIF revenues (as we saw in 2011).

Therefore, I recommend that you reserve this contingency appropriation until revenuesare actually received.


President


Vice President


Secretary


& Dougherty

Members


Member


Member

Advisory Member


Board Member

Executive Director

Stu Summers


219.548.4826219.464.4273 FAX

2012 ProjectsPROJECT TITLES TOTAL NOTES & COMMENTS

ECONOMIC & EMPLOYMENT DEVELOPMENT

North Coast 4,469,000$ Purchase Bldg ($4 MM) & Roadway ($169K). Traffic Signal $200K.

Educational Challenge Grants 200,000$ Up from $150,000 in 2011.

MOTD (Medical Office and Technology Department) 1,724,000$ St. Mary's Infrastructure ($1 MM). Burlington Beach R.O.W & Engineering.

Speculative Industrial Parks 250,000$ For Prospects: Utility and roadway extensions for employment growth.

U.S. 30 Corridor 270,000$ NEW: $100K façade program. $170K for grants match.

Economic Development 316,000$ VEDC dues ($9K). County ($7K). North Coast sales commission.

SUBTOTAL 7,229,000$

TRANSPORTATION & SAFETY

TOD (Transit Oriented Development) 965,000$ Create a Campbell Connector: ROW & Engr: $270K. Bus ops $600K.

North Calumet Avenue 1,348,628$ 5 points roundabout $760K. NEW: East side streetscape ($550K).

Cumberland Crossing 5,000$ Ped bridge and railing: YMCA - Pines

VU Link -$Public Safety Equipment 300,000$ Last year of funding in exchange for North Coast building to Public Works.

LaPorte/VU Ring Road 409,000$ Acquire 100 parking spaces ($400K) or lease from 3D.

Silhavy Road 555,000$ Finish pathway started in 2011: Glendale to LaPorte

East Lincolnway 952,500$ NEW: Façade grants ($100K). University Drive & Promendade support

Eastgate Roundabout -$ Project closed with completion of LaPorte decorative lighting.

SUBTOTAL 4,535,128$

COMMUNITY DEVELOPMENT

Brownfield & Environmental Redevelopment. Art & Trees 261,000$ Orville ($150K). Trees ($25K) Sculpture walk ($35K) Bike lockers ($11K)

Central Calumet Avenue 861,433$ NEW: $600K for streetscape. Finish façade grants ($236K)

Downtown 1,385,000$ NEW: Buy Worstell bldg ($1 MM). $125K for signals match. $175 ADA

Vale Park East 804,000$ Gateway ($625K) Pathway bills from 11 ($95K). Roundabout finish ($84K)

SUBTOTAL 3,311,433$

K:\Valpo Redevelopment\Plans and Budgets\2012 Budget Plan\2012 Projects.xlsx

Date Printed: 1/5/2012

2012 ProjectsPROJECT TITLES TOTAL NOTES & COMMENTS

PROJECT MANAGEMENT

City Staff Services 103,000$ Up from $100,000 in 2011.

Management, Grant Writing Services & Office Expenses 230,747$ Same as 2011 budget amount.

Legal Services 75,000$ Same as 2011 budget amount.

Financial Services 77,000$ same as 2011 budget amount.

SUBTOTAL 485,747$

DEBT SERVICE & PROJECT MANAGEMENT

Debt Service General & Cumberland Crossing 1,726,013$ Includes $1 million to prepay high interest bonds.

SUBTOTAL 1,726,013$

CONTINGENCY

Contingency & Reserve for Revenue Shortfall 1,000,000$ Reserve in case actual TIF comes in below estimates.

SUBTOTAL 1,000,000$

TOTAL REDEVELOPMENT PROJECTS 18,287,321$

K:\Valpo Redevelopment\Plans and Budgets\2012 Budget Plan\2012 Projects.xlsx

Date Printed: 1/5/2012

2012 Budget Resolution Page 1 1/12/2012

Resolution Number 2012-01

A Resolution

Adopting the 2012 Annual Budget

for the Redevelopment Department

of the City of Valparaiso

Be it Resolved by the Redevelopment Commission, as follows:

Section 1: The 2012 Annual Budget and 3-year plan attached hereto and made a part

hereof, are hereby approved.

Section 2: Project Appropriations:

a. New project appropriations:

The following sums are hereby appropriated from the funds in theRedevelopment Fund for implementation of the Redevelopment Project Plans asfollows:

Project Title 2012

North Coast $ 4,469,000Educational Challenge Grants $ 200,000MOTD (Medical Office and TechnologyDevelopment) $ 1,724,000Speculative Industrial Parks $ 250,000U.S. 30 Corridor $ 270,000Economic Development $ 316,000TOD (Transit Oriented Development) $ 965,000North Calumet Avenue $ 1,348,628Cumberland Crossing $ 5,000Public Safety Equipment $ 300,000LaPorte/VU Ring Road $ 409,000Silhavy Road $ 555,000East Lincolnway $ 952,500Brownfield & Environmental Redevelopment $ 261,000

Central Calumet Avenue $ 861,433Downtown $ 1,385,000Vale Park East $804,000

Total Project Expenses $ 15,075,561


b. The Treasurer is hereby authorized and directed to make payments up to theamounts in section (a) above as approved by the Executive Director or the City’sDirector of Engineering without any further action by the Commission.

c. The Treasurer is authorized to cancel any other outstanding appropriations notlisted above and to return unspent funds to fund balance for futureappropriations by the Commission. This authority is retroactive to December31, 2011 as may be appropriate in the Treasurer’s judgment for project closeout and year end accounting.

Section 3: Recurring Appropriations:

The following sums are hereby appropriated from the funds in the ConsolidatedValparaiso Allocation Area for implementation of the Redevelopment Project Plans asfollows:

Expense Category Amount

City Staff Services $ 103,000Management, Grant Writing Services & OfficeExpenses $ 230,747Legal Services $ 75,000Financial Services $ 77,000Debt Service General & Cumberland Crossing $ 1,726,013Contingency $ 1,000,000

Total $ 3,211,760

i. The Treasurer is hereby authorized and directed to make payments up to theamounts in section (a) above as approved by the Executive Director without anyfurther action by the Commission.

ii. Pursuant to a Lease with the Valparaiso Chamber of Commerce, and associatedexpenses, $22,000 is appropriated for office and equipment rent and for officesupplies, pda, computer, phone and photocopying expenses. The Treasurer ishereby authorized and directed to make said office payments as approved by theExecutive Director without any further action by the Commission.

iii. For the benefit of the Commission, the City of Valparaiso provides valuablefinancial management, planning, economic development and engineering support.The sum of $103,000 is hereby appropriated for payment to the City for said, theTreasurer is hereby authorized and directed to make said payments without andfurther action by the Commission.

iv. The sum of $1,726,013 is appropriated for debt service pursuant to previous bondresolutions and covenants, the Treasurer is authorized and directed to makerequired principal and/or interest payments and file required documentation on atimely basis without any further action of the Commission. Trustee fees and otherexpenses associated with debt service may be paid from this account, or from thedirector and expenses account, whichever has funds available.

v.


Section 4: Equipment

In accordance with the Memorandum of Understanding between the RedevelopmentCommission and the City Council, (adopted by the Commission on September 11, 2008)$300,000 is appropriated from the funds in the Consolidated Valparaiso Allocation Area toreimburse capital expenditures pursuant to Section 2 of said Memorandum, and theofficers of the Redevelopment Commission and the Clerk-Treasurer are hereby authorizedto administer this appropriation in accordance with the Memorandum of Understanding.

Passed and Approved this 12th day of January, 2012

President:

Vice President:

Secretary:

Commissioner:

Commissioner:

Attest:Executive Director

VALPARAISO

Agenda Item #8Tuesday, January 3, 2012

The Honorable Mayor Jon CostasSubject: 2011 Annual Report

Below, please find the 2011 Annual Report, prepared in accordance with Indiana Code36-7-14-13.

2011 ANNUAL REPORT OF THEVALPARAISO REDEVELOPMENT COMMISSION

Members:

David Smith, PresidentLaura Campbell, Vice PresidentJon Diston, SecretaryJohn Bowker, MemberJan Dick, MemberJim Jorgensen, Advisory Member

Staff:

The Redevelopment Commission does not have its own staff. Rather, it relies on skilledmembers of the City workforce and specialized consultants to provide support services. Iespecially appreciate the services of these individuals:

Sharon Swihart, Clerk-Treasurer / Fiscal OfficerKaren Conover, Deputy Clerk-Treasurer Accounts PayablePatrick Lyp, City AttorneyTim Burkman, City EngineerDiana Campolattara, Engineering AdministratorCraig Phillips, City PlannerTyler Kent, Assistant City Planner/Transit ManagerKarl Cender and Dan Botich, Financial ConsultantsJanet Cypra, Grants ConsultantStu Summers, Executive DirectorAbigail Igarta, Assistant

Financial Reports:

Attached please find a spreadsheet of 2011 Year End Revenues and Expenditures asreported by Ms. Swihart, City Clerk-Treasurer.

Thank you for the opportunity to be of service to our City.

Respectfully submitted,

David SmithPresident


President


Vice President


Secretary


& Dougherty

Members


Member


Member

Advisory Member


Board Member

Executive Director

Stu Summers


219.548.4826219.464.4273 FAX

valparaiso redevelopment commission

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