Good evening. I would now call to order the Metropolitan and Economic Development Committee to order from Monday NOVEMBER. The 17th. We'll begin with introductions of my colleagues on the first row. Thank you. MADAM Leader, Derrick Ale to district 23. Thank you. MADAM Leader Michael Paul Hart District 20. Thank you. MADAM Chair, Paul in a district. 22, thank you. MADAM Leader Christine Jones District Thank you. MADAM Leader, Brie and Illini District, 2, thank you. MADAM Leader Nick Roberts has worked for. Thank you. MADAM Leader run gives district 8. Good evening. Thank you. Count her, MADAM Leader Councilor Jared Evans representing District 17. Thank you, counselors. My name is Maggie Lewis, District 5. We do have a full agenda this evening. Counselors there, our snacks
in the back for your convenience. Also for our prisoners. We ask that you be as precise as possible this evening. Again, we have is extremely full agenda this evening. Like to introduce yourself, sir. Thank you. MADAM Leader. Leroy Robinson, District one poses be 30 seconds. 30's. And the untimely first item on our agenda. Proposal, number 3, 0 nyree appoints David Baker today and at historic Preservation Commission. If you would like to come forward and state right here in arrests continue to serve in this capacity. Good evening and thank you for having me here tonight. Before I retired in 2018, I worked for the Preservation Commission for 35 years as its staff
administrator. After the death of longtime commission member. Jim can lay 3 years ago, I was appointed to finish out his term. I can say that it's been a great honor. 2 after working all those years for the Preservation Commission to now sit on the other side of the table and serve on the commission. Reappointed tonight, I certainly would be honored and look forward to serving another term. Thank you. Thank you so much for being present on any questions too. Counselors. Is there anyone in audience that wishes to speak to propose a 309? Santa Ana entertain a motion. Emotions been properly moved. And second, all those in favor signify by saying Aye. Those
opposed same sign the motion carries. Thank you so much for your willingness to serve the next item on our agenda. This proposal, number 3.11, reappoint Cape cod to the Marion County Property Tax Assessment Board of Appeals. As Kathy. Good evening and thanks for having It has been a pleasure to serve the last several years on the Marion County Property Tax Assessment Board of Appeals. I think that's a very important board that that taxpayers and assessors have the Howlett to come together, present their cases be hurt. So I would like to continue. Thank you so much. Questions comments from counselors. Cancer Evans. Thank you, leader this of I just want to ask a question. Could you speak to process
when someone files for to have their assessment appeal. Yeah, filed an appeal with the assessor's office. At that time. They have an informal hearing with the assessor's office and both case and both of them, the taxpayer in the assessor's office have a hearing officer and they get together to go over the information. So a lot of times it's resolved right there. But that's not then They have the opportunity to file onto the property Tax Assessment Board. And we hear evidence from Lee taxpayer and from the assessor's office and make an independent decision based on percent. Okay. And is there a fee or anything? There is of beauty. I just think it through because I had a few
residents reach out to me about their property taxes. So thank you so much additional questions. Will counselors. Is there anyone audience that wishes to speak to propose a number 3.11? Seeing none. I entertain a motion. Last year. Their second investment property second, all those in favor signify by saying aye, those opposed same sign the motion carries. Thank you so much for your willingness to serve the next item on our agenda, propose a number 3.13, create points. Kathy, pool were pool to that board of Business and Neighborhood services. The floor is yours. Hi, good evening. I also worked for the prime of neighborhood services having a metropolitan development for about 10 years. And when I left, I got asked to come and serve on the board of
neighborhood services and have a very much considered that an honor that I was asked to come back and do that. And my lens and architect helps provide some good feedback to staff and to the community center to be honored, to continue to serve. Thank you so much. Questions comments council is council Delaney. Just wanted to say that I've known Kate for about 15 years and served on a board with her and I can't recommend her highly enough. So thank you, MADAM Chair. Thank comments cancers. Is there anyone audience that wishes to speak to propose a 3.13? Seeing entertain a motion. The motion that second, all those in favor signify by saying Aye. Those opposed same sign the motion carries. Thank you so much for your willingness to serve the
next item on our agenda proposal. Number 3.32, except Marion County recorders. Suarez statement and approves the records requests to use money. To pay for other office expenses, including special property Fraud Alert. Veterans Honest promotion, including not Political billboards, radio and tv especially events during the 2026 fiscal year. Thank you. Could even manage. And this team members of the Kate Campbell, you MAY encounter recording with me chief. They are either. Good afternoon council, as you are in the state that we are just looking for approval of what approval of our sworn statement to basically invest funds into Indiana trust account and use that interest money to pay for not political billboards, radio and tv ads for property fraud and veteran
affairs veteran honors publicity for our constituents. He's looking help us continue the go-to continue to educate, I say around a million with the news here in Union County. So the extra and inches will allow us to do that. Thank Questions from cancer Delaney. Thank you. MADAM Chair, We're have the money previously been located. Just Now you're moving it to interest bearing account. Correct. Okay. Think yes. You're welcome. As we've in Egypt question, just thank you, MADAM Chair. I'm excited about Well, not that what the transaction is reasonable and necessary. But I like work with veterans. I'm a veteran. So I just want to say thank you for the District Education, Nikita Milken educator you do with the veterans. Absolutely. So most
veterans do not know that military, to 14 release papers can be recorded in the main County coroner's Office for free. So, see, you didn't know that, right? So that's another part of the outreach is to let people know about the services that the that means business side arch. Well, thank you. And take you up on that says that it. Survey important document, additional questions. Any questions from anyone audience regarding proposal. Number 3.32 Santa Entertain a motion. Investment property mood is second. All those in favor signify by saying Aye. Those opposed same sign the motion carries. Thanks you. The next item on our Dennis proposal. Number 3.33, proves the 2026 budget is a downtown economic enhancement district. We say for the floor is yours. Good
evening. Counselors. I promise to keep it brief and I will keep that commitment. Just as a matter of recapping this last year, knowing that it's the first year for the downtown economic management districts existence. Those board members convened initially in JANUARY. And we came before you at the beginning of the year to approve this fee structure then appeared on property tax bills for the first time in spring of 2025. Them in our first distribution of funds within JULY. And those projected expenditures that we gave you. We're at the beginning of the year where the covered the last 6 months of this year and then the first 6 months of next because of cash flow. That's the way the district will function through the 10 year life of
the district, the same time in 25 we launched a public dashboard in order to report out on those key metrics throughout this both communication and transparency has been a real priority for us. As we look ahead to 2026 just as a kind groundwork. This is what that district looks like. We know that annual basis, some of these property types will change some of the eligibility into paying fees will change. So that map you have in front of us what that district currently looks like. We can be pretty confident. We go to the next slide a what figures and budgeting that we're doing right now, even with some of the unknowns. We'll get to in a minute what that looks like knowing that in 2025. Those
projections remained pretty aligned with what we initially thought. I think originally had about 4.5 million dollar, a budget that came to you once adjustments were made. We saw the billing in the special cycle being about 4.5 million dollars. And then in the first in that first distribution we received about 2.2 million dollars we're working with our county partners. We know that that second property tax bill will probably be a little lowered. Some of that is due 2 adjustments in assessed value. Some of that is due to the payment cycle. And so we think in our first year we'll probably collect closer to 4.2 million dollars. The biggest changes we then look into 2026. It's really changes in assessed value. Want to go to the next slide. Please. It changes assessed value in the
downtown area and 2025. The overall assessed value in downtown was 2.6, 8 billion dollars due to some changes in the states deal. Jeffs cost tables, those assessed values have gone up to 3.3, almost 3.4 billion dollars go to next slide. You'll see that. That's not unique to downtown, although based on those cost tables, it certainly impacts center township in downtown buildings. Disproportionately. What that means for the Edd as we look forward is that we actually had that the board itself had to lower the assessment rate. The full go to the next slide. Please. Last year, that rate that was set in accordance with the initial ordinance passed by You'all was at that 0.1, 6, 8, 1, rate. If we did that based on eligible a v that actually put us over are capped amount.
So this year, Edu rate will be set at 0.1, 6, 3, 8, which then brings in an estimated revenue of pie. 5.4, 9 just app. 5.5 billion dollars. I will note that we assume that there will be a variety of changes made as people see that increase assessed value as they work through that county process. And that's why talking about our actual expenditures. Try to be really thoughtful in how we and how we budget and how we think about the next year. The next slide really just breaks down that. Those that rate and the overall associated fee, my property class type. I'm happy to answer questions about that. But for the sake of time on move on to the next slide, which covers the biggest changes when it comes to how
we're spending our planning to spend those funds in 2026. Everything you see in front of you is really based afa feedback that receive from the Economic Management District board as well as direct community feedback prior to having our initial budget meeting with board, we did have a public meeting, add a community space in downtown. We met property owners and talked about the various priorities challenges ways that they were seeing the the it dollars being put to use and things that could use adjustments in the future. Additionally, worked really hard to push si se, which isn't out of the box technology solution. That is skin specifically for downtown. That allows us to
hear directly from property owners from downtown users about what is needed in the downtown area. So couple of highlights. Overall, the clean team and those street level operations will stay about flat-lined from this year. The biggest increases or changes that are in the budget in front of you include continuing a partnership with h Baf. We have been a while first. We've been a work site for people going through their programs for several years that had been paid for by the Lilly Endowment. We really felt like continuing to support their work when it comes to host outreach was a priority for the e d Board. And for downtown as a whole. So we have added a $1000 stipend per qualified individual into this budget this year. It also increased dollars for apd's home. What
homeless unit staff increased the number of outreach specialists in the downtown area in partnership with rising House. We've increased that the line item for safety ambassadors compared to last year in part because as we continue to have different types of events. We continue to hear that there is a desire for more flexibility with hours with that program was really originally imagined. It was really about that kind of 95 audience and with so many other things happening in downtown area. We're consistently hearing that it's nice to be able to have their presence on nights and weekends and we want to be able to continue that. Additionally, you'll see that
our plan is to maintain funding levels. The q one q two dollars that are coming in and 26 will have to pay for those that first 6 months of 27 operations and the incorporation of attacked a reserve fund to it support future, a low barrier shelter operations. With that MADAM Chair and happy to answer any questions. Thank for your presentation. Questions from counselors. Do you MISS It? Really think MADAM Chair of its ok, just really quickly, I would just like to acknowledge that one of our uv board members just joined U.S. Greg Kennedy represents downtown area, his wife or property owners in the area. Joining us this evening, wonderful. Is there anyone in audience that wishes to speak to propose a number 3.33 Brady have anything to add. Well, it's certainly nice to be here. Thanks for the work you guys
all do. I know it's harder in this city. That's for sure. Really proud of what's been accomplished so far. But downtown Indy under Taylor's leadership, great leadership. And it's nice to be able to have this money to keep things go on. I was at the low barrier shelter, groundbreaking with couple couple weeks ago. Little chilly that day. But it's exciting. It's a great place for it. Right across from other facility. That's very complimentary. And I think it's really going make a difference metal could get up and running and gets people the care they need to do. Thanks for supporting this appreciated. Thanks for being here. Questions. Comments from counselors are anyone in the
audience? Cnn in a motion. Year, the most been properly moved. And second, all those in favor signify by saying Aye, aye. Those opposed same sign motion carries. Thank you so much. The next item on our agenda proposing number 3.34, and then various sections of the code reflect and say building and permitting process changes within the Department of Business and Neighborhood Services. MADAM Director, the floor is yours. Sorry. Doing a quick hug home right at the brand's director of the Department of Business Neighborhood Services. There are a lot of ordinance changes, but I think pretty straightforward. So I'm just gonna go through section by section. These things need to be approved before the end of the year because of a state law. That changes going into
effect in JANUARY, predominantly for The the private provider process that was related to House Bill 10, 0, 5, which essentially allows individuals doing class 2 projects that are residential projects for obtaining a building permit. They can use a private party to do that. Plan review and a private party to do that inspection process. And it's laid out state statute how we have to abide by that. And because of that, there are certain things we need to tweak. Was an r current ordinance and then Section 19, a specific to unsafe building. But all all want to get to that. So. Guys know I talk fast. Some of talk fast please feel free to stop me. Section one is cleaning up definitions. A lot of this is just pointing back to statute where we need to for reference. We're also clarifying a couple things that best lead to misinterpretations and at
worst created loopholes such as accessory structures for any kind of cool or townhouse fits between class one and class, too, because it could be considered multi-family family. Section 2 is who can open a permit. This is partially in response to House Bill 10, 0, 5, in trying to create some loopholes. But essentially creating some checks and balances so that we have a direct connection to the property owner. We've seen a lot of house flipping organizations open structural permits as the entity that owns it. But they're not actual a licensed contractors because they have that loophole. So this ensures that either the the owner or employee of that owner or a general contractor can open that permit. So just removing that kind of entity loophole they can still if you're house hunting organization, you can
open a permit. You just need to have a general contractor that's working with you or license contractor. Section 3 with the new love, their specific details and timelines that constitute a complete application. We have to receive an application we have like 3 days. I believe It's complete or not, if not explicitly, what's not complete with it. Then we move forward. And so we're going to start asking more questions on the front end. I think this is a good thing because it will avoid delays later on in the process of we're asking you lets you if we're asking you, is this an hpc district? You have a co a business in flood. You have a flood permit, et cetera, et cetera, et cetera. Ultimately, this will also help us in our streamlining efforts that we're moving
forward with 2026. And some of our permitting processes. And we believe if there are further changes in state statute or allow us to respond more quickly to what we're being asked to do. Section 4 was an antiquated section specific to receiving applications by facts. I don't know the last time we received on by facts, but I can assure you it was not recent. Section 5 ensures that when permits and plans are posted job sites, if they re a taint using the private provider process that all information, all responsible parties information is included in that posting. Section 6 is related permit extensions in expirations. My deputy and I have been going to different builders and architects and engineering firms and doing lunch and learns basically kind of a white glove service
where we talk about the things that we're getting ready recommend going into 2026, far as we as we can streamline processes, getting their initial feedback, but then also gathering feedback. Generally the things we might not cover. And one of the things that we've is related to permit links like right right now, it's 6 months people asking for a year. So this codifies a year. It also makes it so that the administrator can extend that beyond that timeline. So for projects like iu Health, we know that in a six-month project or your project. So why don't we just open as a larger permanent? This allows 7 is meet maintaining up-to-date contacts in the next section explain a little bit more wide, but essentially and we want to have as much
information as we can have for private providers to know exactly who's going to be working on that project, which brings me to Section 8, which is the fact that we are creating an entire new permit type that will be a one-stop It's one application that will serve as your I'll your structural and any associated crash permits with that that allows that private provider piece. So we know exactly who's. Being a part of that project. And so that will require is you're putting that application together. Who is your electrician? What is their license number Hoosier plumber a license number because Ugc and so we think that will make things easier as far as collectively knowing who's on a project and obviously maintaining up-to-date context back in Section 7 ensures that if a contractor falls off of a project for whatever reason were not holding them accountable. Months later, if
there's a compliance issue and that we know who to contact if their compliance issues. Sections. 9, 10, 11 are specific to completion card. So when you get a permit, you also get a completion cart. And that is our trigger to know that your project is over and you need a final inspection. I have no idea why these were codified in ordinance as the specific form. But given changes and state statute, we need to be a little bit more flexible about what these look like. I honestly don't think the former is going to change much, but we have to create a new kind for private provider and because that will. Pertain to multiple permit types. Gonna have to be a very specific completion car type. And again. We don't foresee this being the last change that comes from the state trying remain flexible. Sections 12 13 are specific to
private provider completion cards, mainly just stating there is a there is an acceptance process that's outlined in statute, but we're codifying the need for a specific completion card and then Section 13, just as a reference to that new language. Section 14, a specific to inspections. So the first changes gives us insight. The first change gives us the ability and the flexibility to schedule inspections. We'd like to offer more digital solutions for people versus just the ivr. The second change is acknowledging that these kinds of inspections might not are not required for the private provider. Workflow that highlights that per state statute. We still have to receive their inspection report in order to close permanent. Section. 15 is the sections. 9, 10, 11. It's just
specific to electrical craft permits. The section 16 is inspection requests by property owners of this grants, the flexibility of a property owner to request an inspection during construction. It's not uncommon for us to get e-mails from property owner saying like, I don't know if my engine contractors doing the right thing. Can someone help me? This allows us to go out and check on that. We struck the language about charging not to say that anytime someone request one of these will charge them. But we did add that re inspection fee. And so if there is an instance where we're coming out multiple times to inspect a specific scenario that just allows us the opportunity to charge that fee. But I don't think that's going to be. Thing with this specific thing. This is truly just so people can. Request things during the process. Property owners can request inspections
are in the process. Section 17 is acknowledging new language regarding private credit prep. Private provider completion card. And isn't showing that the new section is reference for the purposes of building code Enforcement. Section 18 is acknowledging that there are certain fees and penalties that line in statute for this new private provider process. Those are likely to be tweaked further by the Legislature. Based on some of the conversations I had. So we're just pointing it back to the state statute. Source. Finally section 19. So this is specific to unsafe building. Many of you recall there was a a bill in the state House earlier this year. That kind targeted unsafe building programs across the state. Working with the bill's author. We were able to get that killed because there were several things where it would have completely defunded these programs across the state. But we provided recommendations
that we felt met. Senator Freeman's concerns. Well, also. Working well for us. So essentially what this does, if you receive a notice of repair work. A pair has been opened on one of your vacant properties. You currently have 10 days to request a hearing to dispute that to talk the administrative law. Judge, this opens to 90 days. You currently can only risk request a hearing at the beginning stage where once you come into compliance. This allows you to request a hearing any time a penalty has been assessed. You can go before that algae and dispute it. Currently. If you buy a property during tax sale, there's that redemption period, right where the former property owner has the ability to pay the redemption, seeing at the property back. So during that time a tax sale buyer cannot touch that property during that time. If it's vacant, there could be
penalties that get access to it. And so this allows that property owner to come and request a hearing say, hey, I wasn't redemption, period. I was unable to make any updates to it and we can waive those fees. Finally, what I think is going to be the most impactful. We are caught a fine or ability to waive lanes and refund penalties. If a project a property comes into compliance during the life of the case. So by state statute, we can open a repair order for 2 years tears up, open a new one are reopening demo order or to come into compliance right now. You have to request a hearing and the alj isn't forced to Do anything. He can issue refunds and he typically does. But then that 60 to 70%
range. So this would mean that you own a vacant property. You come into compliance with that repair order within 2 years. You do not need to request a hearing. We will just automatically waive your lanes and refunded. And so I believe that this should lead to greater incentive for people to come into compliance. Certainly if life of the case for says tracking on to multiple cases. Thank you so much for your presentation. Questions comments from counselors. Thank you. MADAM Director brands for the presentation going to Section 7. I my concern here is maybe can clarify. The point is, you know, I've had instances in the past where, you know, I've had a builder have a permit for structural permit, but then they've had a stop work order But then the department permit and improvement permit
at stop order in place. If all permits the same permit tie. How's that? For Section 7? Got the rocks are certain section 8 section 8, So this is specific to private provider. So the private provider permanent. If you go look at the state statute an individual or entity to use a private provider for plan review and for inspection services for class to structure. And because of that, because it covers and I'll and a structural permit and craft permits instead of forcing people to go do multiple things that some far easier for us. If we package it all into one thing. Who's doing the work? Who are the craft? Vendors, et cetera. And then you just get one permit. For this process, which is what the author intended it to
be was that you get? A permit a lot faster. Okay. And so they get a stop order on the structural portion of that. Is that void the entire thank I think it would depend on the scope. What the stop work order us. But no, the intention wouldn't be. I mean. For a stop work order to occur. That means somebody would have to send us a complaint that we go and verify and let's say the stop work order is specific to. I don't know, pouring a foundation right then. Then this the electrical, the plumbing that probably would have started yet because that. Happened? I think we're pretty good about for the most part when there are certain things of like, you know. You can still continue work on the inside that your hasn't been approved. So you can't keep doing work on the outside. I think that'll be the intention behind. If we do have to have
enforcement for these. Okay. And then my second question is on Section 17. Think about this one. Right? K a. And it was on it sound like it was on regarded communication. Was the. Improvement because the Notre is this. We have the technology in place. That's what was next. All communications on contractors because I've had the case where I've had constituents call me and say, hey, it's taking forever to get my permit, have it. And then, you know, I called in the contractors never received, responded back to what the city them to do right. And I think a lot of that can be improved by, you know, transparent of vacation process. Where we on that. So we will that last year for think drainage permit types
and some other permit types. I don't think we rolled it out every permit because we wanted to see how it went. But that's something we can certainly rollout to every other permit tight. But yeah, it's a it's an automatic email that says, hey, your permit still under review. Was the frequency on the current. So how how warm with a way before that goes out? Have to go back. I know it's scripted for certain my time, but I can remember the top my head. I want to say 10 days but I could be wrong. I can get to the actual number. You know, if you number just from feedback, that's something I could see couple. Appreciate Thank you. Enter additional questions Councilor Gibson. Thank you. MADAM Director, appreciate running through all the changes here. All these changes for unsafe building and permitting processes with a final bill body, I mean, I guess the
final pool process here where you got go back to you. The ok? Thank Thank you. MADAM Chair. It's no questions. Comments counselors. Is there anyone in the audience that wishes to speak to proposal? Number 3.34 here. Take motion. The most has been properly moved. And second, all those in favor signify by saying Aye, those opposed same sign motion carries. Thank you so much. MADAM Director. The next item on our agenda proposal. Number 3.35, a cruise, a payment in lieu of taxes. A pilot has provided, but I see 36 dash 3 dash, 2 dash, 12 point Affordable Housing project in finance in part with low income housing tax credit known as Capitol Station Apartments. Good evening, MADAM Chair, members of the Council, my name's actually learn from it. The Department of Metropolitan Development and I will be introducing the developers who
will be presenting on a pilot ordinance request tonight. So first up is Kevin began with United Church homes to speak on Capitol Station. Thank Ashley Anne. Thank you. MADAM Chair and counselors for having me here. Excuse me, as I battle a little bit of a cold. As mentioned, Capital Station, apartments ease located at 78 28 Madison Avenue about 8 and a half mile south of where we are right now. It is a property. Can slide? I'm sorry know who's trying to go to the next slide for me. The property was originally constructed almost 30 years ago in 1996 it contains 49 affordable senior housing one unit for manager. It has been built and owned
and operated by a 501, c 3 organization, United Church homes since the original construction and since construction. The property has always been 100% tax exempt until the recent financial closing, which necessitates this request, the next slide has some statistics about the building, which I will gloss over, though. You're happy to a question or read through at your leisure the next slide is a little bit of information about my organization. I'm the vice PRESIDENT Of affordable housing preservation. Why specific task is to take our existing nationwide affordable housing portfolio. Find the capital and resources to preserve and maintain that affordability for the long term. We say perpetuity. But in all likelihood, they are
termed that 30 years with land-use restriction agreements or 20 years housing and Urban Development Section 8 have contracts. Both are both of which are relevant to this discussion here. Just some statistics that United Church Holmes owns 58, affordable housing communities in 15 states as well as manages 4 other nonprofit owners, an additional 16 apartment communities in numerous other states. I don't know the exact number off hand on the next slide. And so I went the wrong way some details here on the affordable community, that affordable residents that this community and United Church homes service as you can see here, the affordable housing that we reference here is affordable housing, meaning it is defined
as rent, restricted housing backed up by a legal document that has compliance reporting and long-term use restrictions for Capitol Station due to the low income Housing Tax Credit Award received through I h c d a which we applied for several years ago. The units are restricted at various income levels, none of which are higher than 80% of the area. Median income, though, as you can see, the majority are at 60% of area median income or lower. This requirement last for a total period of 30 years. But it is trumped by a deeper income requirement with housing and urban development. By way of our project. A section 8 have contract which we were awarded in granted and
closed on in MARCH of 2025. So earlier this year. Per the rules of that housing contract with housing with the have contract with housing and urban development. All the residents that live at Capitol Station will have no more than 50% of the area. Median income. These are also senior residents, meaning they're all 55 years of age or older. And in reality that 50% am I maximum limit is far too high for what the actual residents on our property currently make. The average resident as of Friday is around. 33% of area median income. So we are housing fixed income seniors that are making somewhere between 12 $18,000 per year. On the next slide. It is. We can skip over briefly. It's a
pre prescription of how we got here from a property. That's 30 years old and the process of which we raise the capital to put over 7 million dollars of funds to modernize and rehabilitate this property. So that's in good quality, safe operating condition for the next 20 or more years on the next slide. I want to talk again a little bit about the resident impact here and you see him bowl that there is no impact to the residents portion of the rent, the way that the rents are paid on the Section 8 have contracts there is a resident portion which is restricted as we described as a percentage of their gross monthly income. And there is the cut portion. So when we talk here about 4 lines down
are 4 bullets down that the hud approved rent increase of $321 per unit per month increase. That is the federal government's portion of the rent. Our residents have not and will not see an increase in their portion of the rent unless they're gross monthly income increases, which in that case it will increase pro rata. Only up to that See to that 50% maximum. So realistically, the seniors don't have a lot of upward income mobility. So the resident rent is unchanged and will always be tied to their gross monthly income not to exceed 50% of their of I-four, the median income for the area. The total rent on for the resident will stay flat and then again highlighted in yellow. You can see that, you know, resident will ever make
more than 50% of the area median. More than 50% of the median income for this area for the next 20 years. The term of our section have contract and for the additional 10 years after that, if the contract is not renewed, which it would fully be our intent as a mission based nonprofit committed to affordable housing would be to renew that Section contract for an additional 20 years, at least for an additional 10 years. The low-income housing tax credit levels set forth by cba would then take effect. But again, the residents that are currently in place are well beneath those limits. On the next Excuse me. I'll go quickly through here. It's just a brief description of the various capital sources that were identified and closed on to generate the funds needed to do this substantial rehabilitation
project. The capital station we have put in over $130,000 per unit in order to modernize and rehabilitate this property has a point of no when it was originally constructed in 1996, it costs around $30,000 per unit. So we've spent roughly 3 times that number to maintain and modernize this property. So it's fantastic operating condition for the future. On the next slide. I wanted to talk briefly about the additional services and amenities that we provide to our residents. These namely take the place of service, social services that are administered and run by our onsite full-time service coordinator. This ease a position that has always been
in place and is in place as many of the properties in the United Church on photo that we can afford to make that happen. But at Capital Station, we've had the fortunate situation of having an employee that's being a full-time on-site service coordinator for more than 7 years. And there's a brief snippet of the programs that have been put on by the service coordinator through the 1st half of just this year. As you can see, we average about 2 events per month we will be aiming to increase that because portion of our application to hide for this rental increase was a specific set aside of funds for social services and those funds will be spent to enhance and increase the volume of
programs that we offer for our residents. These are open to all residents of Capital station as well as the larger community. We are going likely you some of our additional funds to advertise some of the service programs they're all held on site in our community room and they are often well attended. We track and we'll continue to monitor the attendance and report back to hide and to the state as required. A little bit more in the next slide is about the social services and events. Just some descriptions of how they're put forth and what the various programs and events tend to look like on the next slide here. I talk a little bit here about our nation wide commitment that we have towards affordable housing, their service coordinators on
the site are not on an island. They are supported by a central office staff based out of Ohio. That includes 4 full-time employees that are committed to doing the accounting and finance to grant underwriting and helping to administer these programs. So that are on-site service coordinator can really meet the day-to-day needs of the residents as well as put on these programs that is complemented by a full time on site property manager. So it is not as if the service coordinator is also doing leasing compliance and income certifications. All of that is run through the site and then backed up by our Central Office staff just to further shore commitment to affordable housing at Capital Station and across the country. Brief description here of the renovation, we're putting a lot of money into this property and it is our great
pleasure to do so. So this is just a narrative here. But if you go to the next slide, pictures speak louder than words. If you look on the left, that's a shot of the old kitchen galley style. Very narrow with have size refrigerator. Have sides have size range. Can't really see in the corner. But on the right, this is a completed kitchen that has been fully renovated, is now open its you you fast and section 504, of the fair housing code compliant, meaning it's got the proper wheelchair radius for mobility, restricted residents. There's also full-size appliances, new cabinets, new flooring, new hvac systems in plumbing in the guts of the building, which are not quite as intriguing to look at, but are
critical to the long-term quality of the House and and on the next slide, you can see a photo of the bathroom as well on the left is the old bathroom on the right. You see the new flooring vanities lighting, multiple grab bars. I think we got a sale on grab bars in shower in particular. So that's very safe. New new toilets, all in all, just 8 fully renovated apartment for the residents to move back into again. We did this renovation in place, meaning all residents were temporarily relocated, but 4 of those residents have already returned to their units. And we are expecting completion of this project by the middle of DECEMBER. But again, all residents are back will be doing just the central office in common areas. For the
meantime, the next picture is just a building. Fay Shaw and some mechanical, like you said, the guts that are not quite as exciting but the most expensive part of this. And then lastly, just a discussion on the pilot application. If it were not approved, you know, this property had been fully tax exempt since it's a ritual construction. It was our intent that it would be exempt post-construction, however, through the tax credit of investor that we brought in to raise the money to put into this property, they are a for-profit. So there is a fractional ownership percentage that is owned by a for-profit entity. They're completely limited partner. They are there only to receive the tax credits which we as a developer and a nonprofit have no use for. So
they were sold to that for-profit owner. If Pilot was not approved, we would absorb those costs, though it would impact our monthly operating income and the ability to do all the wonderful things we've already put forth in this presentation. And then lastly, just my contact information, if there's any questions, I'm happy to answer them now or anytime in future. And thank you very much for your consideration and attention. Thank you for presentation. You have U.S. Questions. Comments will counselors can strike a deal. Thank you. MADAM Chair. This is in my district and on the sponsor. Hi, this is this is a offer. I think we have a lot of discussions when we talk about tax abatements where we look at something, we say what what
could the the valuation be? This one is unique in that the as they mention the property tax revenue today, 0 and through the pilot, we will begin earning tax revenue for the duration. So that's that's not the norm. We we will actually tax of 8, something and increase the tax revenue we receive. In addition, obviously, there a lot of great things with this. We're really having a facility that's been there. But, you a lot of times. We get to a point where we are doing tax abatements for properties that have gotten into serious disrepair. And now we're having to tax incentivised to essentially bulldoze or do something more substantial. This is nice to see that we're doing something proactively
and hopefully getting another 30 years of life out of building, not letting it fall into That situation. Also this is an existing structure. It's always been a low-income senior housing unit and it's been well received in community. It's fit within their Crestwood kind of across and down the street from it. So that's that's what this portion of medicine. And so I would ask for your support tonight. Thank you. Thank you, counselor. Additional comments counselors cancer Gibson. Thank you, MADAM Chair, and thank you. Council peel proposal. That the pictures really look wonderful meals like you really upgraded renovations like some really
quality housing and and I applaud the fact that we're trying to do more in keeping for White House and Richard. Also, I I love the sport as well. Thank you. Thank you. Thank you. Council Gibson additional comments, counselors. Is there anyone audience that wishes to speak proposal? Number 3.35 Canadian, MADAM Chair and to the committee reverend the tv Robertson senior Open Baptist Church. Also the founder and owner of Frail Bills, senior apartments just wanted let the committee know that Uch also they manage our property. And we've been very pleased with the service that they provide it. In I hope that to our property next So here support of That's proposal. But they are wonderful shun. Really mission based and they have
faith base as well. And I think this is a great asset in our community. And I would hope that you that's what support Uch in the to renovate this wonderful property and to it going and comeback kid saying this for 12 from the Pastor Inc. It's not comments. Seeing that. Motion. The most money properly moved. And second, all those in favor signify by saying those opposed same sign. The motion carries. Thank you so much for your presentation. The next time honored in this proposal. Number 3.36, approves a payment and looked access. A pilot has provided by icy. 36 dash 3 dash 2 dash 12 for affordable Housing project being financed in part of the low-income housing tax credits known as Promenade at at the square at the square. Good
evening. A floor is yours. Good evening called Crestwood Bergin held. Presenting on coming out at the square. Probably not 144 unit 100% affordable property located Lafayette Square Mall property. It's a joint partnership between Soho's Capital and Virgin held. All units will be it will operate 100% on solar energy with rooftop solar installation and owner will cover 100% of these utility costs. I was down some services here that will touch on later. But one thing I did want to know is all 144 units income average out to 60% of mice here in Indianapolis. Construction is expected to start in q one of 2026. With the opening in fall of 2027. So the projects located at 39
19 Lafayette Road. If you're from Indianapolis, it's it's a part of the mall that's been there but it's nice. It's a nice area for amenities and that the area seen a lot of investment over the last few years. So in terms of an amenities close by there's good employment opportunity, education, ice health, iu Health News. Could new campus is close by retail dining and entertainment. Also, the nice thing is there's a pub public bus line just adjacent to the site. So here's the development site plan. It's just north of the existing mall property. 144 units, 61 bats. 56, 2 beds and 28 3 bats all coming down to that 60% am level the Florence will average between 725 square feet 1200 square feet for 3
beds. The property will have surface-level parking common area amenities, outdoor green space and players as well as an onsite daycare. Here's a quick rendering of the property are currently going through design review with the city of Indianapolis. But this is where we stand currently today. So here's kind of the affordability broken out in terms of number of units my levels like I said, all of these will average out to that 60%. Am I? So roughly 1200 for a one-bed all the way up to roughly 1700 for 3 bet would be that average rents at this property. Now this is subject to change that this is where we say today. So it ranged from 30% eyes all the way up to that 70%. So it gets a large democratic of families. Here, the range of services that will be offered. The first thing I want to touch on
is the the solar installation that will take place. One thing we have found in our properties across the country is our residents vote struggling with fluctuating utility costs seasons, come and go. What this installation? 100 1% of the electrical load would be covered resulting in the owner covering all utility costs. So residents would just be stuck with one rent Bill. There's also free Wi-Fi provided there's a computer lab with a business center to be 200 first-come first-served bus passes monthly. For our residents. Financial works out trainings through ihp. Those are both posted online and on our site. So those will be in the community room as well as
online to all residents. He'll be a daycare on the first that's open to the public. And we're working through our. Terms with the provider right now. But we're we're planning on spot set aside for children living living in the community as well as a potential rate cut for those families living there. There also be a playground on site it will be doing classes as well at the Unity Center that just opened less than a block away from the site. So financial courses there as well as job training. Here's a quick the source in use kind of of the project. Right now. We're looking at just under 48 million dollar total. Just a development cost. I can answer more questions here. If there are any. But I'll leave that there
for now. And then this is kind of what the pilot would look like. So right now, the the development site is vacant. It's always been vacant. There was never a structure there prior to this investment. And so with that being said, this would generate tax revenue that the city would another at otherwise see. It's calculated roughly a $300 per unit here to start and then it escalates there from for 3% for 15 years, which is the why find of the tax credits through the cda. So just a little bit of back on the development team. So host capital based here in Indianapolis with their with their office over at Lafayette Square Mall. They're also the owner of the entire mall acreage in buildings. And today they've invested over
150 million into the surrounding neighborhood and continue to invest day after day. And then Burgeoned with a co-developer here. We're headquartered. Also here in Indianapolis founded in 2008, we currently manage just north of 25,000 apartments and one of the largest apartment management companies in the state of Indiana. One thing to note Virgin Health will be the property management company for this project as well as the construction. And with that, I that's all I have. So if there's any questions and I appreciate everyone's time consideration. Time. Thank you so much for your presentation. Counselors. This is within my council district. I'm excited about the opportunity to continue to do development along Lafayette Rowe. It is desperately needed. And also we all know the need for affordable for double
additional affordable housing and the city of Indianapolis. So I encourage you to ask questions. And if you can key, find it in your heart, if you will, to support Greatly greatly appreciate it. Counselor at Inc. Thank you, MADAM Chair. I just wanted to public assembly excited with this project. The fact that you're gonna have solar is a part of this and that there's going to be no cost of the residents on the energy. That's amazing. That's something that we've been dealing with as a city as those prices have been skyrocketing. All the different amenities that you have to address some of the quality of life issues for folks are phenomenal. And you guys are really I think. This is a project that we need to start utilizing is this is what we're looking forward to as we move forward on some of the stuff because this is
great, very excited to support this. Thank you so much. Thank you. MADAM Chair today from one mall representative to another. This is this is really especially the residential services. I'm optimistic that there will soon be something in district 20 along these lines. But I'm curious on the Wi-Fi connectivity. How was that? I do get 18 t to agree to that. Yeah, that's just the cost at the under care. So they're just paying those bills. Is you guys as the owner Virgin, that would be so capital. It's a partnership. Okay. Nothing without stick out. Stay in place for the 15 years. Additional questions counselors. Is there anyone audience that wishes to speak to propose a 3.36? Cnn, a
entertain a motion. Factor. The most has been properly moved. And second, all those in favor signify by saying Aye, aye, those opposed same sign the motion carries. Thank you so much for your presentation. The last item on our agenda proposal. Number 3.37, approves a payment in lieu of taxes has provided. But I see 36 dash 3 dash, 2 dash, 12 point affordable housing project being financed in part with low income housing tax credit now has Walnut Ridge Apartments. Good evening. Good evening, everyone. Thank you so much for taking the time to hear about our projects taking consideration of our request. My name is Sarah Ford. I am vice PRESIDENT Of development
for a Communities. I've been there for just over 9 years and really excited too. Tell you guys a little bit more about this project tonight. So I I don't last all try to be brief as I But wanted to provide a little bit of an overview into We've been in business for just over 60 years. We are active in 8 states across the Midwest and we have a robust portfolio across the Midwest over 200 units and over. Sorry, over 200 properties and over 14,000 units and we have large portfolio across state of Indiana. We have 14 active properties that we currently own and manage in Indiana. Just kind of a high-level overview of really in summary. We're kind of a one-stop shop. We, you know, our with these
projects to every stage of the development from originating the projects to being the gc being the long-term property manager and then also the long-term owner off greater. So we kind of have a hand in every step of the process. And so we really try to take a lot of pride in the projects that we move forward because we are in them for the long term. So just a quick overview of Walnut Ridge apartment. So this is a 78 unit, existing asset. It serves seniors. 55 and up. And the project has kind of a unique history and it was originally developed as a school building. And then it was taken through the tax credit program in 2005. Unfortunately, the nonprofit who took it through the tax credit program and mission an initially went defunct. And so the project actually went
through a foreclosure in 2024. As part of the foreclosure, the land use restrictive agreement was released. And so therefore, the property was at risk of turning to a market rate property and no longer having any affordable restrictions. That's kind of one wallet got involves. And so we were able to take it back through the tax credit program. Receive a new allocation of credits that then unable to asked to keep it affordable for at least the next 55 years. That was really important to the residents of this community. Obviously, they're seniors. A lot of them have been at this property for years and years. You know, 10 plus years and inevitably, if this new reservation of tax
credits would not have been achieved, this project would have went market rate and most of them would have been permanently displaced as they most likely would not have been able to afford the new market rents. That would have been charged. So we're really excited to be able to keep this asset affordable for years to come. Some of the development amenities that we will be doing as part of the re have include a walking path Fitness center, business center. We also in this project will be providing the free Wi-Fi in all of the units and the common space. We have a dog park picnic area and then one thing we're really excited about is glass greenhouse that we're going to be providing. That was
something that when we got feedback from the residents, they were really excited about to just be able to garden and socialize with other We think that that's kind of a unique feature that this project will now have. Then our relocation plan just to touch briefly on that. We are a Ming to relocate as much as we can on site just too, you know, make resident disturbance as minimal as possible where we can't relocate onsite Wallach will relocate off-site and completely pay for all expenses associated with relocation. It will only be a temporary location and then residents will move back to their unit after their phase of construction is completed. And then this is just a site plan. We are under construction. So I don't have pictures of the before. And
after your projects looked amazing. So hopefully we can provide pictures that low just as good when it's complete. But just wanted to provide kind of a high-level overview. And this also shows where some of those amenities are located that I mention. And then again, this is kind of just a high-level overview of our funding source is the primary being the 9% tax credits from Ihc Ba. We also have a development loan from and then just stopped typical permanent construction loan for the remaining financing for this project. Total development costs are just under 17 Million. All in for the development. And then we also serve, you know, 50%, 60% and
80% am I? So we wanted to provide kind of a wide range of income levels for the property. And so rents here will be anywhere from 500 to about $1100. Depending on what am I level and what you that. I want to touch on the community benefits agreement and resident services. We really are excited about the resident services that are going to be offered here. We have just a fantastic community manager who is a longstanding community manager. She was at this project before the foreclosure. She stayed during the foreclosure and now she is staying on, you know, for the long term. And she is just incredible. She has cultivated so many relationships in the community and already has a long list of services that we intend on either picking back up or just maintaining once
the rehab is complete. So I listed some of those here happy to answer any questions on that. We also will have an on-site service coordinator who is core certified and then our property manager, Wallet Properties, Midwest, also intent on becoming course certified in early 2026. So I think just having that level of expertise will be really beneficial for the residence. So our request is for an 80% pilot for the 15 year compliance period. You know, as I'm sure we all know there is a lot of challenges with making affordable housing developments, pencil and so When we have cities who are willing to participate and help with these developments, it makes a world of difference and so we greatly appreciate your consideration of our request. This pilot really is critical to the overall
financial feasibility of the development. And so we're really grateful to be able to potentially have that opportunity. And so then again, just in summary, Walnut Ridge is a existing senior affordable housing development serving seniors. 55 and up. We are requesting an 80% pilot which is very critical to the overall financial feasibility. And we're really excited to be able to offer a really strong community benefits plan not only for, you know, the purposes of the pilot, but because we strongly feel that it what is needed in order to provide the most holistic, you know, level of services to these residents who have been longstanding members of the community and have been through a lot with history of this asset. So we're really excited to be able provide kind of a better future ahead
for them. And I'm happy to answer any questions. And thank you again. Thank you so much for your presentation. Questions comments from counselors council Gibson. Thank you, MADAM Chair. I drive by this property every day and I've seen it over the years. And so I'm very pleased that you're working with the pilot to improve it. And as MADAM Chair mentioned, we need more affordable properties. And so we want work to try to sustain this and I'm very pleased and will be supported. Thank you. Thank you. Additional comments from counselors. Is there anyone in the audience that wishes to speak to proposal 3.37 Seeing entertain a motion. There a second. The most of probably moved. And second, all those in favor signify by saying aye, those opposed same sign. Motion carries. Thank you so much patient. Seeing no other business from this committee
to motion for adjournment. Whoa, second. We are adjourned. Thank