Speedway Redevelopment Commission approves financial consultant and traffic-study contracts

The Speedway Redevelopment Commission on March 17 approved a new financial consulting agreement with Krone and Associates and authorized a traffic-impact study for Founders Square, voting unanimously on both items during a 6:00 p.m. special meeting in the Town of Speedway.

The consulting agreement with Krone and Associates will replace prior financial support after the commission’s previous consultant, Jennifer Hudson, left. The contract carries a monthly fee the staff described as $200 higher than the commission’s prior arrangement; the commission said the agreement has been reviewed by counsel. "We desperately miss Jennifer Hudson. She did such a fantastic job," Town Manager Grant Kleinhans said, explaining the need to secure alternate financial support. Kleinhans said Krone will prepare the commission’s monthly financial reports, help with annual reporting to overlapping taxing entities and provide analysis for bond payments, reserves and economic-development deals.

The commission also voted to hire First Group Engineering to perform a traffic-impact study and examine alternatives at Founders Square, where congestion around CREW Car Wash routinely affects access to nearby businesses. The approved proposal is for $10,800 and, according to staff, will include traffic counts and analysis, evaluation of internal-site improvements and cost estimates. Staff recommended First Group as the lower-cost proposer after United Consulting submitted a higher bid and A and F Engineering declined to submit a proposal.

"Carfordsville Road is not controlled by the Town of Speedway. It's a City of Indianapolis road. The on- and off-ramps for I-465 are INDOT controlled, and High School Road is controlled by the City of Indianapolis," Town Manager Grant Kleinhans said, noting limits on what the town can require or change at the roadway level. Kleinhans said the study is intended to identify feasible options and that staff will meet with CREW and other property owners in the development once the analysis is complete. The commission asked for the work to be completed by May so any improvements could be scheduled this year or next.

Commission leadership emphasized the balance between supporting private development and using municipal funds prudently. "We want this development to succeed. We want these businesses to do well," the commission president (name not specified in the record) said, adding that the study is a first step to see what options are feasible and cost-effective.

The meeting also approved routine items by consent: minutes from the February regular meeting and claims totaling $7,690.67. All formal votes recorded during the meeting were unanimous (5-0).

Votes at a glance

- Approval of February regular-session meeting minutes — approved by consent; vote not recorded individually in the transcript (consent approval noted on the record).

- Approval of claims, $7,690.67 — motion made and seconded; tally recorded as 5 yes, 0 no; outcome: approved.

- Approval of general consulting agreement with Krone and Associates for financial consulting services — motion made and seconded; tally recorded as 5 yes, 0 no; outcome: approved. Monthly fee described as $200 higher than previous consultant; agreement reviewed by the commission attorney.

- Approval of proposal from First Group Engineering for a traffic-impact study and alternatives at Founders Square, $10,800 — motion made and seconded; tally recorded as 5 yes, 0 no; outcome: approved. Scope: traffic analysis, internal improvements, and cost estimates; target completion by May.

The commission adjourned at 6:13 p.m.