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IV. Consideration Received by City <br />• Parking Garage (owned 70% Host/30% 1St Source ) <br />• 1St Source renew lease; make improvements with proceeds of sale and <br />private funds <br />• Host to operate Hotel as upper upscale and make improvements <br />• Host & 1St Source to assume all maintenance and operational <br />responsibilities of Garage (Maintain current operations agreements in <br />place for last 30 years ) <br />V. Improvements (All minimums) <br />• Atrium -1.25 million (70 % Host-30 % 1St Source ) <br />• Hotel Improvements - 7.35 (equally between Garage Proceeds & Host <br />funds) (Total Host 7.35m + 875k = 8.225 m ) <br />• Bank Improvements-5.4 million (spread among multiple locations in South <br />Bend-Exhibit C) (Total 1St Source 5.4 m + 375k= 5.775m ) <br />• Total Improvements 14 million <br />VI. Use of Garage Proceeds by Host/1St Source <br />• Escrowed and can not access until own funds used for Hotel/1St Source <br />Improvements <br />• Encourage Atrium Improvements-Still Escrow but can be reimbursed when <br />full percentage of Atrium costs paid <br />• Liquidated Damages if improvements not made by 12/31/13 <br />• Clawbacks if do not meet operational standards-amortized over 7 years <br />~ ANOI exception-not applicable until improvements done <br />VII. Additional Consideration to 1St Source/Host <br />• Ground lease interests conveyed <br />• Conveyance payments cease <br />• Reconveyance of garage no later than 2041 <br />