9 AUGUST 2018 Dearborn County Redevelopment Meeting Notes

9 AUGUST 2018 Dearborn County Redevelopment Meeting Notes

Present: Jim Deaton, Chairman, Dave Deddens, Jim Helms, and Alan Goodman

ABSENT: John Rahe (who has resigned) and Jamie Graf (non- voting school board member)

Also present:Sue Hayden, county administrator and minute taker, Andrea Ewan, attorney, Connie Fromhold, Auditor and DCRC treasurer.

Title VI statement read as legally required.

APPROVAL OF MINUTES- July 12th Minutes approved

CLAIMS AND FINANCIALS- No Claims- Financials for the TIFs passed out.

UNFINISHED BUSINESS:

Cushman Wakefield- Tom McCormack- was introduced by Terri Randall. She wanted to get the Redevelopment into the hands of some people who could get us to people interested in properties besides the Stone property.

McCormack is said they are commercial real estate brokers - and they are the 5 member team in their local industrial real estate department in this region. They have a lot of experience - been around since the 80s or 90s on their team. 

Deddens asked about Hirlinger. Terri Randall said Hirlinger hadn’t been getting emails and he wants 5 acres. They are keeping this out of the contract so Cushman Wakefield won’t be getting that commission.

Ewan said asked about contracts to get the legal cover doing Indiana work- getting it out of the company’s Indianapolis office. Tom sees this as a Cincinnati market area though.

They do mid size market too- 3-5 acre needs. Cushman only gets paid when a deal happens. Randall said they could get build to suit where people only want to lease- not own the building. They could then get developers involved for that. Tom said the beauty of our site is that they are uncontrolled- so their clients could even bring their own builders in. Sometimes construction industry has a potential buyer. They bring that in too. The DCRC owns the land- they are NOT obligated to accept a buyer unless they want to. Some contractors have a good knowledge of the site- we can recommend them - but if we REQUIRE them to be able to bid that changes the dynamic of the offering. Tom said you have to be careful of too many bid requirements- maybe just suggest they try different bidders. 

Industrial projects tend to buy buildings and then look for site to put it on. Generally of you look at any property you work outward- usually find prospects west Hamilton County. Businesses like to stay near where they are and their decision makers are. The DCRC has a leg up on the typical farmer or landowner.  

Randall asked where they could value the land if they donate the land- so that they can get their commission. It depends on what your process requires for appraisal. 

Tom- take the mystery out of the process. They try to make all fees transparent up front. Cushman Wakefield- became interested because we are positioned for it and the topography of Western Hamilton County is not suited for it- we are. Lack of available land in the traditional corridors is what is driving the to come here. SE Indiana is ripe for the picking right now. 

Tom- answering Goodman- we are going to start this project in the fall- if we could get 50 acres and get one or two parcels in the spring/summer with building. Getting thru winter into spring will be a test of this. 

Tom expects a warehouse component to the building- the building will look like a concrete box. Industrial users are building utilitarian buildings. What happens inside that can be vastly different. 

Next step is the development of an appropriate contract. Ewan said real estate contracts are her forte. Action is to work on contract and meet next month in September to decide to accept. 

Tom said- they are excited about this opportunity.    

Randall Avenue Business (Industrial) Park Sign- Terri- Deaton and Randall met with Lynn Weber Batesville Products. He (Weber) was opposed to the LED feature. wants a sign- and wants a lump sum. One time investment. And if it changes then another sum later. 

Using the US 50 Business Park name for this sign. Try to stay out of sign business. They will have an adjoining sign with spaces for the individual businesses who want to pay to have their name out there. Less than $1500 for each slot for a business. About 18inches wide slot to see from US 50. Wanting to know if there is any problem with park name change. (Rahe is absent today)- but Randall said they had researched that when they demolished dates old worn out one. It should be OK to change it. 

They will probably position on the half acre site. Save the one acre for potential use later. They will go back to Signarama and get the info emailed to the board. Also have to check with Planning Dept as they are moving and changing the sign.    

One Dearborn Contract- John Browner and EG McLaughlin were present from One Dearborn. Same contract and price - $40,000- and termination clause 60 days out -per Randall. Appreciate the opportunity to work together again. Board approved and signed the contract as did John Browner.

Deddens left at 9:30 AM

Hirlinger- still need something in writing from them. Tabled. 

Schools- asked the schools to present what they are interested in with regard to the TIF. They are working on this. Randall said she talked to others about this in the state and they are meeting to try to elevate the conversation to get this resolved for best practices that do not give them a share of TIF but work thru another way. They don’t want to open it up that they get a share- because then every one else is entitled to the share. The school are still working on theirs.

NEW BUSINESS:

Board Appointment- There is a vacancy on this board and the Commissioners need some recommendations. 

ONE DEARBORN REPORT:

Pricing and Recommendation for Duke $10,000 (tabled from last meeting) - Randall said- because of what they are looking at with Cushman Wakefield- they noted there is a stream on the west end of the Stone property that needs to be dealt with. The stream was taken out when 74 was constructed. Soil surveys. Phase One environmental site assessment- might need to be refreshed. EPA endangered species review. Banning Engineering could run these for them to get the site shovel ready. Randall went on with a bunch of items she has previously discussed regarding costs to demo house, flood plain on the corner of a piece, utility locations, etc etc etc. She said she hasn’t pushed any of these things yet as they aren’t causing problems with any projects. 

Wait till what Cushman Wakefield recommends per Goodman. Randall agrees. 

Ewan said the flood are is NOT owned by the county. That eliminates a lot of the problem. 

Randall- visiting OKI to see what is going on there and a conduit around the Highway 50 problem. Port Authority looking at some of those things also. 

Building an economic plan for all the cities towns and county. Using all of them to sort out what is important to do. First Ever Economic Development Plan for all of Dearborn County.

Leads have slowed down. Only some long shots remain to hear on right now. 

Company building on Whitewater Mills property to lease and will be operational by years end. There is an existing TIF bond. The real estate is owned by Whitewater Mill but the building is owned by another company. This is part of the plan that Whitewater Mill had when they came in. This will help pay off the bond earlier per Connie Fromhold- treasurer. 

Randall wants to have some financial analysis from Umbaugh and Tom Pittman from Barnes and Thornburg on these bonds to see what they have coming. Unless you want to wait to see what Connie gets back on this. She wants to know how she can use the money in that TIF area. If you get another user of that product then she can bring them in maybe.  Board decided to have Deaton and Terri and maybe Ewan talk to Pittman from Barnes and Thornburg and Umbaugh for about half hour to get info. 

ATTORNEY’S REPORT- finished all the leases and sent to Deddens and corrected for the lighting bill on all but Kenny Wingate’s. Will have that done. 

OTHER BUSINESS- none

ADJOURNMENT - 10:02 AM

Christine Brauer Mueller

Lawrenceburg Township