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South Bend Redevelopment Commission <br />Regular Meeting –January 15, 2010 <br /> <br /> <br />4. COMMUNICATIONS <br /> <br />TC <br />There were no Communications. <br />HERE WERE NO OMMUNICATIONS <br /> <br /> <br />5. OLD BUSINESS <br /> <br />A. Airport Economic Development Area <br /> <br />(1) Operations and Management Agreement <br />with Kitson & Partners Club Services. <br /> <br />Mr. Inks noted that the terms of the contract <br />with Kitson & Partners have not been <br />finalized. The Commissioners received a <br />draft version in their packets. Mr. Inks <br />summarized the terms of the contract as they <br />stand. <br /> <br />The agreement appoints Kitson & Partners as <br />manager of Blackthorn Golf Course. The <br />objectives of the operations and management <br />contract are to protect and maintain golf <br />course facilities, manage daily course <br />operations, provide financial accounting <br />services, maximize course revenue and <br />profit, and develop long range business <br />strategy. The contract describes those <br />services, local and corporate, including <br />staffing. Kitson will prepare an annual <br />business plan and operating budget each <br />year. The city will open a new Operating <br />Account to be maintained by Kitson. If the <br />account reaches a negative balance, that <br />would be cause for termination of the <br />contract. The account and accounting <br />procedures are being established based on <br />advice from the city controller and they <br />parallel the procedures in the Century Center <br />Management Agreement, recently approved <br />by the city. Kitson will prepare monthly <br />financial statements. Insurance and <br />indemnification issues are still being worked <br /> 7 <br /> <br />