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Redevelopment commission reads large bank balances and reviews vendor agreements
Summary
At its May 18 meeting the French Lick Redevelopment Commission reviewed bank balances including a $3.09 million Hoosier Hills item, audited multiple payables, and asked staff to review a master services agreement before signing.
The French Lick Redevelopment Commission on May 18 reviewed its bank balances, read a series of vendor invoices and claims, and asked staff to vet a master services agreement before final signature.
The meeting included a reading of large balances and line items: a Hoosier Hills-related figure of $3,096,694.95 and a Springs Valley Bank amount of $729,872.48 were read aloud by staff. Commissioners also reviewed a list of payables that included a Barnett claim for $515 (West Maryland Street), a Barnett Title purchase payment of $66,094.87 for 8530 West Poplar (described in the record as the “lower lawyer house”), an insurance invoice totaling $6,906, and an advance to an entity referred to in the transcript as “Biggest Incorporation” for $78,721.21.
A master service agreement for professional fees (identified in the transcript as a Midwest agreement) was placed with staff (Dave) for review; commissioners asked that future requests include not-to-exceed estimates rather than only hourly bills. The record shows the chair saying the agreement will be reviewed and, if acceptable, returned signed.
The commission also reviewed a bundled invoice from Portsman covering multiple projects — Wells Avenue, Summit Street, Moonshine Hollow and Walnut Street — and allocated amounts in the meeting record for budgeting: Wells Avenue $3,800; Summit Street $4,800; Moonshine Hollow $2,000; Walnut Street $1,500.
No formal motions or votes on these invoices were recorded in the transcript excerpt; the actions taken were review and assignment to staff for follow-up. Commissioners requested breakdowns where combined invoices existed and asked staff to send full copies of bank statements and supporting documents to members after the meeting.
Next steps recorded in the meeting: staff will review the master service agreement and return signed documents if terms are acceptable, and the finance details will be circulated to commissioners for budget reconciliation.
