crossroads parking partners, llc · 2020. 8. 18. · crossroads crossing partners, llc 1...

CROSSROADS PARKING PARTNERS, LLC

CONTENTS

Transmittal Letter .......................................................................................................................................................... 1

Developer Team Overview ............................................................................................................................................ 2

Development Team – Dora Hotel Company .................................................................................................................. 3

Financial References ...................................................................................................................................................... 6

Resume – Tim Dora........................................................................................................................................................ 7

Resume – Greg Gibson .................................................................................................................................................. 7

SUMMARY OF FINANCIAL PLAN - CONFIDENTIAL ............................................................................................. 9

Exhibits B-D to follow

Crossroads Crossing Partners, LLC

1

TRANSMITTAL LETTER

August 5, 2020

James Bramble Vigo County Auditor c/o Tammy York-Allen Vigo County Annex Building 189 Oak Street Terre Haute, Indiana 47807

Dear Mr. James Bramble

We appreciate your consideration of our Organization. Our proposal is built on successful proven methods and our

long-time history with the City of Terre Haute.

The following individuals are the primary contacts for Crossroads Parking Partners, LLC:

• Tim Dora, President, c: 317.201.0088

10734 Sky Prairie Street, Fishers, IN 46038

• Greg Gibson, President, c: 812.249.3333

3200 E. Haythorne Ave., Terre Haute, IN 47805

The signatory below is an officer of the Organization and has the approval and authority to make this commitment

on behalf of Crossroads Parking Partners, LLC.

Tim Dora

President

Dora Hotel Company

317.863.5700

[email protected]


2

DEVELOPER TEAM OVERVIEW

Crossroads Parking Partners, an Indiana Liability Company will be used as a mixed-used development. It is our

desire to master plan the entire site and make sure the site is developed to achieve city and community goals as

well as support local businesses and community members.

Dora Hotel Company

From development to renovations, DHC has significant experience owning and operating hotels

across the Midwest. Not only are we successful in hotels, but we have developed and managed a

parking garage, several office buildings as well as restaurant and tenant space for third party

customers, including Panera and Longhorn. We are well-versed in historic renovations, conversions

and ground up new builds.

DHC works with multiple global hotel brands including Hilton Worldwide, Marriott International, Inc., and

InterContinental Hotels Group. DHC specializes in real estate development and management, and owns, develops

and/or manages restaurants, office buildings and parking garages in addition to hotels. The company provides a

full range of hospitality services including accounting and financial reporting, purchasing, design and construction

services, franchisor relationships, sales administration, and revenue management.

DHC prides themselves on high-quality, forward-thinking design and solid construction. Each project is branded

with a unique identity establishing personality and a foundation for meaningful history.


3

DEVELOPMENT TEAM – DORA HOTEL COMPANY

“Crossroads of America” Re-Development Project, Terre Haute, Indiana

• The Downtown Terre Haute Redevelopment Project represented the first major development

project in Downtown Terre Haute in over a decade.

The project included significant demolition and

restoration of a historic building to create a new

Hilton Garden Inn.

• Restoration and conversion of the historic Tribune

Star Building into a 97 room Candlewood Suites.

• Working with the Terre Haute Children’s Museum, a

one-story building attached to the Star Tribune

building was demolished where a three-story

children’s museum was constructed. 16 additional

guest rooms were then added above the children’s

museum.

• Total Investment of $25 million – Hilton Garden Inn

and Candlewood Suites combined.


4

Downtown Columbus Strategic Development Project, Columbus, Indiana

• The Downtown Columbus Vision 20/20 Redevelopment Plan, developed by the Irwin Sweeney Miller Foundation, a planned public/private development process designed to attract growth and

development into the downtown area of Columbus. The project was focused on increasing the population of downtown Columbus by creating an urban, pedestrian friendly district with shops, restaurants, businesses, and housing.

• Construction of a new 85-room Hotel Indigo, an upscale boutique hotel by Intercontinental Hotel Groups.

• Demolition of outdated and underused downtown shopping center.

• Construction of 5-story, 235,000 square foot office building for Cummins, Bartholomew County’s largest employer. Total Investment:

• Hotel Indigo: $10,000,000

• Cummins Office Building: $35,000,000

• Total Columbus Investment: $45,000,000

Downtown Indianapolis Stadium District Project, Indianapolis, Indiana

• The Downtown Indianapolis Stadium Development Project included the construction of three new hotels and a 297-space parking garage. This project corresponded with the building of Lucas Oil Stadium, home to the Indianapolis Colts, and the expansion of the Indiana Convention Center.

• Construction of 297 space parking garage, capable of expansion up to 800 spaces.

• Construction of 130 room Comfort Suites with onsite restaurant and bar.

• Construction of 108 room Holiday Inn Express & Suites with onsite meeting facility.

• Construction of 113 room Staybridge Suites extended-stay hotel.

• Total Investment:

• Parking Garage: $5,800,000

• Comfort Suites: $12,300,000

• Staybridge Suites: $12,900,000

• Holiday Inn Express: $12,300,000

• Total Downtown Investment: $43,300,000


5

Hilton Garden Inn / Home2 Suites – Kalamazoo, Michigan: Currently under construction, this $44 million dual

brand design features a conversion of a historic 6-story

masonic lodge into boutique guestrooms for an upscale

urban experience. A 6-story addition to the HGI and an 8-

story Home2 Suites round out the balance of over 180,000

square feet, 220 total guestrooms, amenities, and 15,800

square feet of leasable tenant & office space. We will also

have 4,305 square feet of flexible meeting space. Pedestrian

bridges will span across two streets to connect the multi-

use hotel to adjacent offices and parking garages.

Cost: $44 million

Estimated Completion Date: February 2021

DoubleTree by Hilton – Lafayette, Indiana: DHC invested $20 million into the conversion of the former Best

Western Lafayette Executive Plaza & Conference Center to

the DoubleTree by Hilton Lafayette East. The newly

renovated six-story, 128-room hotel and conference center

is located on Progress Drive and features a full-service

restaurant, indoor pool, and 3,600 square feet of flexible

meeting space. Outlots were created and redeveloped into a

Longhorn Steakhouse and Panera Bread Café.

Cost: $20 Million

Completion Date: October 2017


6

FINANCIAL REFERENCES

Crossroads Parking Partners, LLC authorizes Vigo County or its agent, to contact the following individuals.

Farmers Bank 7126 East 116th St. Fishers, Indiana 46038 Alan Oyler Vice President 317.565.9576 [email protected] Greenfield Banking Company 1920 North State St. Greenfield, Indiana 46140 Greg Woods Vice President 317.289.5000 [email protected] First Financial Bank One First Financial Plaza Terre Haute, Indiana 47807 Matt Baker 812.238.6374 [email protected] Legence Bank 1702 W. Boulevard St. Marion, Illinois 62959 Ryan Beckemeyer Vice President 618.922.6646 [email protected] Purdue Federal Credit Union 123 N. 8TH St. Lafayette, Indiana 47901 Tim VanderPlaats Vice President 765.497.8815 [email protected]


7

RESUME – TIM DORA

Timothy J. Dora

Tim Dora holds a Bachelor of Science Degree in Business Finance from the University of

Colorado. He is the owner of Dora Hotel Company, a hotel development and

management company as well as Vision Building Company, a general contractor and

construction management firm. Tim is also co-owner of Dora Brothers Hospitality

Corporation, a hotel management and accounting company.

Tim operates multiple hotel brands including DoubleTree by Hilton, Home2 Suites, Hilton

Garden Inn, Hampton Inn, Holiday Inn Express, Holiday Inn, Hotel Indigo, Staybridge

Suites, Candlewood Suites, as well as independent properties. His properties have been

recipients of numerous awards for quality and service excellence including the 2001

Developer of the Year Award from Hilton Hotels Corporation and the 2008 Developer of

the Year Award from Intercontinental Hotels Group. He has been involved in the

management, development and opening of over thirty hotels during his career in the

hospitality industry.

He is formerly the Vice Chairman of the Hotel Indigo Owner’s Association for Intercontinental Hotels Group. Tim is

the past President and Board Member of the Indiana Hotel & Lodging Association and has served on several

hospitality related boards and committees. The American Hotel & Lodging Association has designated him as a

Certified Hotel Administrator. He is the former Chairman of Premier Capital Corporation of Indianapolis, Indiana.

RESUME – GREG GIBSON

Greg Gibson

Gregory L. Gibson resides in Terre Haute, Indiana and is known for his strong track record of

entrepreneurial success in a variety of business ventures located throughout the United

States, with business operations including commercial real estate development, the

hospitality and food service industry, the gaming industry, multi-family housing, trucking,

excavation, the coal industry, solid waste landfill development and waste industry advisory

services.

Gibson has owned and developed several privately held companies which were later sold to

publicly owned companies located throughout the United States. In particular, over the past

30 years, Gibson has obtained extensive experience in the successful development and

operation of waste management companies, including both integrated and non-integrated

business operations. He has owned and operated landfill, hauling and transfer station

operations in Indiana, Illinois, Ohio, Wyoming, Idaho, Arizona and Texas. He is highly

knowledgeable of the waste management industry as demonstrated by his ongoing role as a consultant to several

major publicly held waste management companies. Gibson’s background has enabled him to develop critical

political and regulatory expertise, which has resulted in a good working relationship with many local and state

regulatory agencies.

Gibson serves his community and state in many capacities. He was appointed to the Indiana Judicial Commission,

by the Governor of the State of Indiana, which is responsible for the nomination of judiciary candidates for the


8

Indiana Supreme Court and the Indiana Court of Appeals. He currently serves on the Indiana Port Commission by

appointment of former Governor Mike Pence and reappointment by Governor Eric Holcomb. The Indiana Port

Commission oversees operations at the Ports of Indiana in Burns Harbor, Jeffersonville and Mt. Vernon. The Port

Commission is involved in assisting economic development projects throughout the State. He also served on the

Nominating Board for the Indiana Utility Regulatory Commission at the request of Governor Mitch Daniels.

Currently, he serves as chairman of the Terre Haute Convention and Visitors Bureau. He also serves as Co-Chair of

the West Central Indiana Defense Network, aligning regional assets with new opportunities around defense

development.

In addition to his waste management, political and regulatory backgrounds, Gibson has a B.S. Degree in Civil

Engineering from Rose-Hulman Institute of Technology, where he serves on the Board of Trustees. In 2000, Gibson

was inducted into Rose-Hulman’s Athletics Hall of Fame, and in 2017, his Alma Mater awarded him with an

Honorary Doctorate. In addition, he serves on the Board of Directors for First Financial Bank and its holding

company, First Financial Corporation. He is involved in several charitable organizations which include the

Methodist Health Foundation, the Bird-Gibson Sports Center, Hospice of the Wabash Valley, Visiting Nurse

Association and the Weatherby Foundation. He serves as Board Chairman for the Visiting Nurse Association and

Hospice of the Wabash Valley. He was formerly affiliated with the Terre Haute Children’s Museum, Salvation

Army, Sheldon Swope Art Museum, Family Service Association and Saint Mary-of-the-Woods College.


9

SUMMARY OF FINANCIAL PLAN - CONFIDENTIAL

Proposed Financing Plan Dora Hotel Company, LLC has a history and reputation for developing innovative urban spaces. While this area will initially be surface parking the future holds are that will be accessible, engaging, comfortable and highlights the community. Emphasis will be given to diversity of uses, social dimension, stimulating Terre Haute economy and local identity. Current development ideas for the future space include apartments, retail and/or office space above the parking area along with bicycle rental station. Combining apartment, retail and office enhances the diversity of the space and uses encouraging both visitors and locals to frequent the area. The project could draw young professionals, empty nesters or those wanting to downsize their living space to an area where retail and restaurants are within walking distance. The bicycle rental station would also enable the exploration of the Terre Haute downtown area and the campus of Indiana State University. These factors lend themselves to socialization and economic stimulation while showcasing the great city of Terre Haute.

While our name, Dora Hotel Company, LLC, would lead an individual to believe our experience is only in operating and managing hotels, we have a much greater diversity. An Indianapolis downtown parking garage, 141 apartment unit downtown Indianapolis, and Cummins office space in downtown Columbus has given Dora Hotel Company, LLC the experience to be successful in the development of this parking area in Terre Haute. Funding for the project would be acquired through bank funding and equity from the members and investors. Dora Hotel Company, LLC has a long history of negotiating for development project funding. Use of the Property The former school corporation property will help maintain 75 number of jobs with a total annual payroll of $1,300,000 at both the HGI and Candlewood. Also, the former school corp property is vital to the proposed construction of the new Marriott at an estimated cost of $29,500,000, which will create approximately 50 new jobs at an estimated total annual payroll of $1,225,000. Obviously, the on-going success of the existing HGI and Candlewood – coupled with the addition of the proposed new Marriott – are key to making the proposed new Convention Center a success.

Financial Capacity of Team The equity for this project will be funded primarily by the principals and investors of Dora Hotel Company, LLC. Dora Hotel Company can demonstrate our financial capacity by the successful completion of our most recent projects.

1. DoubleTree by Hilton (128 rooms), Lafayette, Indiana 2017 2. Longhorn Steakhouse, Lafayette, Indiana 2018 3. Towne Place Suites by Marriott (93 rooms), Jeffersonville, Indiana 2018 4. Panera Bread, Lafayette, Indiana 2019 5. Home2 Suites (91 rooms), Terre Haute, Indiana 2019 6. Holiday Inn (100 rooms), Columbus, Indiana 2019 7. Dual Brand Hilton Garden Inn and Home2 Suites (220 rooms), Kalamazoo, Michigan (under construction –

opening 2021)

17

EXHIBIT B

PROPOSAL FORM

Each proposer must complete this proposal form in its entirety. This proposal form must also be

accompanied by those attachments and submittals required by RFP Section VII of the proposal

specifications.

Please ensure that the following items are enclosed (see RFP Section VII for additional details):

1. Corporate officers and their experience.

2. List of other similar facilities or properties developed or used in the last five (5) years.

3. Financial references and any copies of reference letters.

4. Management Group resumes and experience.

5. Summary of financial plan for the use of the property and anticipated sources of capital

investment.

6. Financial proposals for the Property as requested in Exhibit C.

7. Executed and notarized Non-Collusion Affidavit attached as Exhibit D.

8. Two (2) bound copies and one (1) electronic copy (via USB) of its proposal response to

this RFP no later than August 5, 2020, 1:00 pm EST addressed to:

James Bramble

Vigo County Auditor

c/o Tammy York-Allen

Vigo County Annex Building

189 Oak Street

Terre Haute, Indiana 47807

*****

[Signature Page Follows]

17

If selected as the successful proposer, I/we agree to abide by all the terms and conditions of

the Request for Proposals, this proposal, any Addenda issued thereto and enter into the Agreement

proposed to be executed after selection.

SIGNATURE: _______________________________

PRINTED NAME: _______________________________

TITLE: ________________________________________

_________________________________________________________________________

COMPANY NAME AND ADDRESS

_________________________________________________________________________

CITY, STATE, ZIP CODE

DATE:

Timothy J. Dora

Member

Crossroads Parking Partners, LLC - 10734 Sky Prairie Street

Fishers, Indiana 46038

August 4, 2020

EXHIBIT C

FINANCIAL PROPOSAL

Listed is the financial proposal for 686 Wabash Avenue:

• 20 year lease at $1/year; three 20 year automatic renewals at developer’s option;

• Recorded Memorandum of Lease and Option to Acquire Property;

• Lessee may develop and construct on Property during lease period and is responsible for all

development or construction costs;

• Terre Haute Hotel Partner’s will sell the property to CIB per agreement for $354,000 under the

terms of the expired purchase agreement.

• Transfer Fontanet Property to CIB by Donation;

crossroads parking partners, llc · 2020. 8. 18. · crossroads crossing partners, llc 1...

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