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Commission confirms Main & Fourth allocation area for Ardalan Plaza, approves project agreement terms
Summary
The commission approved the Main & Fourth Avenue confirmatory resolution for the Ardalan Plaza project and authorized a project agreement that includes CRC contribution of two parcels and an early-access provision for the developer.
The Carmel Redevelopment Commission approved the confirmatory resolution creating the Main & Fourth Avenue allocation area for the Ardalan Plaza project and approved a project agreement memorializing the developer’s obligations, site contributions and early access terms.
Mr. Lee described the allocation area as the four parcels in the project’s north portion, noting the project will include first-floor retail with residential condos above and private parking for condo owners. The commission heard that the redevelopment commission will contribute two of the parcels to the project while receiving the TIF revenue on the project. Mr. Lee said the project and taxpayer agreement require the developer to maintain active retail on the first floor and that the resolution allows the developer early access to demolish buildings at its own cost while project agreement details are finalized.
No public speakers addressed this item during the required public hearing. The commission voted by roll call to approve the Main & Fourth Avenue confirmatory resolution (referred to in meeting materials as action item 2025-O6) and a separate resolution approving the project agreement terms (2025-O7). All commissioners present voted aye (President Hammer; Vice President Bowers; Secretary Brooks; Commissioner Shalio; Councilor Austin).
Why it matters: the approvals finalize the allocation-area step and authorize terms that bind the developer to specified retail and building conditions and give early site access for demolition and initial work.
