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approved at the last meeting. The design development will take place between May and <br /> August, with construction documents being completed by October and construction being <br /> completed by September, 2015. At the last meeting, Chairman Gutzwiller asked the <br /> commissioners to think about what projects they would like to move forward in future <br /> phases. He has spoken to Umbaugh to get a ballpark figure on bonding for future <br /> projects. They indicated that there would be approximately$11.2 million available for <br /> bonding capacity if the commission was to issue a 25 year bond. That would be TIF only <br /> bonds with no property backup, which would require a larger reserve. Mark Meadows <br /> stated he felt the roundabouts added the most value to the town. Chairman Gutzwiller <br /> stated he felt like if they took three components, the roundabouts, boulevarding of <br /> Indiana Street and the downtown park and made those anchor projects, then the <br /> walkways and pathways associated with each one of those could follow once they were <br /> completed. There would have to be further discussion with the current property owner <br /> for the downtown park project to take place. Commissioner Watkins stated he felt that <br /> wasa very good approach. Chairman Gutzwiller stated that the consultants have said it is <br /> highly unlikely there will be state or federal funds available for this project and if so, it <br /> would be approximately 2023 before any construction could take place. Amy Hillenburg <br /> asked if the roundabouts on Bridge Street would make the flooding problem in that area <br /> worse. Tim Currens stated that the engineers would have to address that issue, <br /> The next item was Southbridge: Commissioner Corman stated the management contract <br /> has been signed and the leasing contract would need to be voted on as well as the new <br /> lease with BMO Harris Bank for the ATM machine. <br /> A motion was made by Commissioner Corman to sign the leasing contract with CBRE <br /> for Southbridge and make Chairman Gutzwiller the signatory. Motion was second by <br /> Commissioner Boyd and carried 5-0. <br /> A motion was made by Commissioner Gorman to sign the new 5 year lease agreement <br /> with BMO Harris Bank for the ATM machine with a 10 percent increase and make <br /> Chairman Gutzwiller the signatory. Motion was second by Commissioner Stultz and <br /> carried 5-0, <br /> Commissioner Corman also stated the pot holes had been contracted and should be filled • <br /> and the tree that had been run over was replanted. He also stated they had some decent <br /> leads on leasing more spaces. <br /> Under new business, the first item was a tax abatement request from Mt. Olive <br /> Manufacturing. Chelsey Manns,Executive Director for Morgan County Economic <br /> Development presented to the commission. Mt. Olive has submitted their SB1 and would <br /> be expanding approximately 4,400 square feet and adding five new jobs. The proposed <br /> estimate is $450,000, Mrs, Manns stated that looldng at the matrix they have a total of <br /> 15. The abatement would be for six years and$29,199.00. <br /> • <br />