I'm going to ask for a We want to approve the minutes. Are there any additions or Corrections or questions about the Minutes from the commission? I'm going to ask for a We want to approve the minutes. Are there any additions or Corrections or questions about the Minutes from the commission? I'm going to ask for a We want to approve the minutes. Are there any additions or corrections or questions about the minutes from the commission? I move approval. So I get moved and seconded. All in favor signify by saying aye. Aye. So our minutes are approved. So now we will, I will ask for a motion to suspend this meeting temporarily as we go into a public hearing. So move. That good. And that suggestion has been moved and seconded. And so we will now suspend the meeting, begin the public hearing and I've turned it over to Jackie for clarification as to what we're doing. All right, so we are here for public hearing on LRC resolution 2025-03, which is the Lafayette Redevelopment Commission additional appropriation resolution centennial edge. This is the public hearing for that part of the element. We'll get more details of the project here in a minute. Is there any public comment? I see no public comment, so you're free to accept a motion to resume the regular meeting. No, I will retain now that we've had the public hearing. I'll entertain a motion to return to the regular meeting. So moved. Second. Moved and seconded all in favor, signify by saying aye. Aye. we've done it and we're back to the meeting now Do I see Dennis or There he was From here to begin our with the new business for our meeting Yes, we have a resolution here It's resolution number 20503 the Lafayette redevelopment Commission Additional Procreation Resolution for the Centennial Edged Project. Do you want to explain it, Jackie, or do you want me to go into it? I would let John explain the project first, and then we can go over the details of the resolution. I'll bring up John Teeville, who's the developer on the project for Centennial Edged, he'll give us some more details about it. Thanks. Thanks, John. Sure. Thank you. Good morning. I'm John Tebel. Thanks for your time this morning. This is part of the redevelopment of what's known as the old pub site. Which is now Centennial Edge. I developed Centennial Town Homes on North Fist Street. I think in character, this will be very similar to the Centennial Development at Fifth and Brown. We've got 36 units planned and there'll be owner acupides. We're trying to generate a product that is accessible to pretty broad demographic for new homes in the area. And I think it's suitable for downtown residents, downtown workers, West Lafayette, easily accessible over the bridge. Most of them will be in the two bedroom range with attached garages. In terms of the project request, we've got a lot of cost on some underground improvements, infrastructure improvements, so sheavers abandoning theing the alley that bisects the site. So we've got duke poles there, and then we're gonna be doing some underground storage. And with the price of the land, the assistance on the infrastructure improvements is greatly appreciated. Other questions from the commission? I look like your ordinance will probably clarify our approval of a $250,000 investment in the preparation of the site so you can and your people can make an $11 million investment. Correct. Sound accurate. Yeah, I think we targeted $10.8. So yeah, $11 million. Yeah. A lot of money. You may have mentioned, but what is your target price range for the units? You have a point. Yeah, so Centennial Edge, Centennial Town Homes, we, you know, it's been some years now, and we first offered that at 175 and they're now hitting 340. Our goal was to be in the $300,000 price range, and we'd like to be there. These are slightly smaller than the Centennial Town Homes. But it's a challenge to generate some affordability. But we think on the low end will be at 300. And if we have some deluxe or oversized units, they may go to 400. So in that range. So visually, I guess I'm seeing this for the first time that it'll resemble your town home. Yeah, I think in quality, we're trying to do a little bit different look. This is, we call it Centennial Edge, because it's just further out on the edge of the neighborhood. And when we think that it's a little less traditional than the Centennial units but we'll be using a lot of brick and then we're going to, it'll be built in three phases going around the block and so we're working with Dennis' team that each phase as we go around the block will have a little bit different look to it. And the parking is self-contained or how it is. Yeah, so for me, and in doing centennial, it was a big issue, you know, in terms of creating for homeowners secure environment. So these will be two-car attached garages. So they'll enter from the back. You won't see the garages from the streets, but each unit will be self-contained. Other questions or comments? Thank you very much. I think I heard you want me to. Okay, all right. So now that you heard about the project a little bit, we have two resolutions associated with the project that need your approval today. I'll kind of explain what overall what they do without getting into too much of the boring details. But overall, what the two resolutions are going to do is they are going to approve the use of $250,000 of TIF funding to be applied to this loan, to be made to Centennial's Edge. The loan will be forgiven if all of the milestones are completed and the project is constructed as necessary. If for whatever reason the project didn't complete, the loan does mature on July 3rd of 2028. So this is a $250,000 loan. We are financial advisors. We don't have financial reports that we sometimes have on the larger bonds, but our financial advisors have reviewed this and the TIF revenues in the area are sufficient to make this loan and the project will generate TIF to allow us to recover it. So the two resolutions, the first one is an additional appropriation resolution. They actually are a little flipped, but that's okay. And that is where we are officially appropriating the $250,000 so that we can actually cut the check over to Centennial Edge, according to the disbursement schedule as laid out. And then the second resolution is the actual approval of the TIFF funding toward the project and approval of the form of loan agreement that you see, which sets forth all of the requirements of what the developer is going to require to do the payment schedules and then the loan forgiveness requirements. It sounds good. So are we ready to proceed or if there are no further questions, we're looking at number 2025-03 for the approval of the additional appropriation. Yes. I'll entertain a motion to proceed with that. Motion to approve LRC resolution number 2025-03. Second. Moved and seconded all in favor signify by saying aye. Aye. Motion carries. And then the second resolution is the actual resolution for authorizing the use of the if revenue 2025-04 again I'll entertain a motion to approve that resolution I move we approve LRC resolution number 2025-04 Second I moved and seconded all in favor signify by Okay. Moving on. Our last item of new business here is with Milestone contractors, and this is for the third and fourth street conversion project. This is the final change order for that project, and it's in the amount of $184,786.88. And this is for full-death asphalt paving for conduit relocation and backfill materials, trenching and replacement of signal conduit, filling and repairing the voice in the streets, additional excavation and concrete for signal foundations and other conduit repair. The current contract price is $1,668,593.70 cents. with this change order, the contract price will be $1,853,380.58 cents. So we're asking for your approval and Levi Evans, our project representative is here too if you have any questions. Are there questions from the commission? Is this in fact the final change order? I mean just to know when the dentist not first received this change order was actually right around three to a thousand. So over the last five months working with them we will be able to get up with the negotiate around $20,000 less than that. So that's kind of why this change was taken so long to improve. It took a little while. I'm sorry, but can you explain? I just declared by. So you're saying the original change order that was presented was 100? How much was it? It was almost 300,000. And am I looking at this correctly? The current change order in front of us is 1,100. It's 184,000. Oh, OK. I'm looking at the wrong line then. OK, thank you. I was like, that's what heck of a negotiation is. I was like, that's great. current change order in front of us is 1100. It's 184,000. Oh, OK. I'm looking at the wrong line then. OK. Thank you. I was like, that's when heck of a negotiation now. I was like, that's great. Good job. It's great work, anyway. Great work, regard. Yes. Just a little detail. No working downtown is always challenging. And older raises. Is that really the cause of this? I mean, if you do write down that it wasn't recognized that these things would... What? always challenging and older races. That's really the cause of this. I mean, if you do write down that it wasn't recognized that these things would what happened. Yeah. It's time it took to dig extended it. The biggest portion on this project was the plan was to reuse all the existing conduits that were in the road and those conduits looked like spaghetti. You couldn't pull the oil wire out, pull the new wire in and that's why we had I didn't cut the road twice as much as we were planning on. That was the biggest cost factor. Just, I think we can pull the oil wire out, pull the new wire in, and that's why we had to cut the road twice as much as we were planning on. That was the biggest cost factor. I think that condo was over 60 years old from what Nick Stanniver had talked about, so it had deteriorated. Any more questions from the commission? If not, we are, I'll entertain a motion to approve this change order. Motion to approve change order. Number three, four milestone contractors, LB and the amount of 184,786 and I've got 86 cents. You might correct mail in that. 88. 88. Second moved and seconded all in favor signify by saying aye. We support that. All right. Thank you, order. Okay. Next up is my report. Just a couple things. One, the Main Street Street Skate Project will be starting the first week of May, so you'll start seeing some activity out there. Excited to get that project done, and this space will be the last phase of Main Street. So once it's done, the entire Main Street will be done with Street Skate. Still a few more blocks, other blocks to do downtown, but by and large we do, you know, We've got the majority of downtown done, so excited to get that going. And also we have, I'll give you an update on the Lafayette Theater Project, our owners rep from JS Held is here Mary and she'll give us that update. Good morning. Wanted to give you a few updates on the theater. A few dragged by there. You may have seen a little activity. They are documenting the marquee in anticipation of restoration of that, plus having that as an electronic sign, which was okayed by historic preservation at landmarks. The project team is working very diligently. They have produced their 75% documents, which have been shared with Kettle Hut. Kettle Hut is in the middle of producing their cost estimate for this stage. We hope to report on that in the next month. Over this time, also the team visited theater down in Avon to gain some lessons learned there. And so we brought those back and some things are being instituted from that visit. In the past two months, there also was additional investigation done to the roof to confirm that there are no hazardous materials in that roof construction, which is favorable to the eventual construction and keeping on time with that. Over this next month, we will be working with surplus materials and working with Dave Payne to get those allocated appropriately, some back to long pack. And then we will also be doing an RFP for the minimal amount of a spestus and lead paint that's in the existing building so that when construction starts that will be cleared out of the way. With that any questions? How it's going? It's going very well. I'm very proud of the team. Very, a lot of due diligence coming on. They've been reviewing interior materials, which both LongPak and Civic have been involved in giving feedback. So that package is looking very, very good. I think you'll have a really project to be very proud of in the end. So thank you. Thank you. Thank you. Thank you for your report. Looks like the theaters are ready. I mean our beautifully scheduled and the entertainment that we've always dreamed about is rolling out. I see the beach boys are coming to Lafayette. That's pretty cool. We can have a few weeks now. We can have a two weeks that it sold 1,716 tickets already to the board. Unbelievable. Congratulations. I'm gonna send you that cell and that one out. Can you send it? Do you have any, either of you leaders sitting there together, have anything you wanna share with us or the visitors? Just thank you for approving John Tebel's project. We're very excited about that and that their owner occupied. That's a big deal and that slot's been set in empty for a long time. So this is a great project. That's $250,000 for 11 millions and a good return. Pretty good deal. and it's kind of a special area that all of us remember the past and now we got something filling up that space is good to see. So I'll, I'll go now, I'm going to go to claims, but before that are just anything, any visitors, any comments from you people out there that chose to attend. If not, I'll entertain a motion to we have some claims before us that we've had an opportunity to review. I usually ask Jim to phrase it, so if you would proceed, please. Brother Chairman, I make a motion. If there's no questions on the claims, I'd like to make a motion that we approve the claims totaling 2 million 673,455 dollars and five cents today 424 25 Second been moved and seconded all in favor of approving the claims as presented signify by saying aye motion carries um Is there anything I've left out here? If not, I'll entertain a motion to adjourn this meeting. No, we adjourn. And seconded. Meeting to adjourn. Thank you for your attendance.