12/28/10 Board of Public Works Claims Review

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CLAIMS REVIEW MEETING DECEMBER 28 2010 393 A Claims Review Meeting of the Board of Public Works was convened at 11:05 a.m. on Tuesday, December 28, 2010, by Board President Gary A. Gilot with Board Member Donald E. Inks and Board Attorney Cheryl Greene present. ADDITIONS TO THE AGENDA Mr. Gilot informed the Board of five (5) additions to the agenda including Termination of Agreements, an Agreement with AT &T, a Release of Mortgage, a side letter to the Memorandum of Understanding with I" Source, and a Clarification of the Studebaker Demolition Area A, Phase IV Change Order, APPROVE CLAIMS Mr. Inks stated that a request to pay claims has been received by the Board; each claim is fully supported by an invoice; the person receiving the goods or services has approved the claims; and the claims have been filed with the City Fiscal Officer and certified for accuracy. Mr. inks stated the following claims were submitted to the board for approval: Name Amount of Claim Date City of South Bend $1,142,568.51 12/20/2010 City of South Bend $3,824,266.73 12/22/2010 Therefore, Mr. Inks made a motion that after review of the expenditures, the claims be approved as submitted. Mr. Gilot seconded the motion, which carried. APPROVAL OF AGREEMENTS RELATED TO THE PURCHASE OF THE 11T SOURCE PARKING GARAGE Attorney Dick Nussbaum stated all of the agreements he has added to the agenda were related to the original Memorandum of Understanding with I" Source and Host Hotels of December 3, 2010 regarding the purchase of the I St Source parking garage. Mr. Nussbaum informed the Board that the documents include a purchase agreement that relates to the obligations of the parties for the purchase of the I" Source Parking Garage; three (3) Escrow Agreements set up for -the $6,500,000 to go into escrow with Meridian Title; two (2) Terminations of Conveyance Agreements that terminate previous Conveyance of Public Improvements Agreements with Ist Source and Host Hotels; and a side letter that clarifies the rating of Doubletrec Hotel as an "upscale" hotel rather than it's previous rating in the Memorandum of Understanding as an "upper upscale" hotel. He noted the Redevelopment Commission approved the documents this morning at their Redevelopment Commission meeting and passed a Resolution to authorize Mr. Inks to sign as agent for the Board. Therefore, any draws on the Escrow accounts will be required to use certain draw forms and will not require a Board meeting; Mr. Ink's signature will be adequate. Mr. Nussbaum stated that only a change in terms or an interpretation would need to come before the Board. Attorney Cheryl Greene asked if it would be beneficial for the Board to authorize Mr. Nussbaum to act as agent to the Board to sign in the case of Mr. Ink's absence. Mr. Nussbaum agreed it would probably be a good idea in the unlikely event that Mr. Ink's was not available. Mr. Nussbaum stated that none of the documents change the provisions of the Memorandum of Understanding; they only implement the terms and conditions. Ms. Greene stated that the Redevelopment Commission will hold title to the garage, and the Board of Works acts only as its agent. Mr. Nussbaum noted any issues related to improvements to the garage should go through the Board of Works, as the experts in that field. Mr. Gilot made a motion the Board approve all of the Agreements as outlined by Mr. Nussbaum, and authorize Mr. Inks to sign on behalf of the Redevelopment Commission with Mr. Nussbaum as a back -up to Mr. Inks. Mr. Inks seconded the motion, which carried. The following Agreements related to the Memorandum of Understanding for the purchase of the 1st Source parking garage were approved: Type Business Descri ption Garage Purchase I" Source Corporation City to Purchase 1st Source Agreement and Host Hotels & Garage Resorts, L.P. Escrow 15 Source Corporation 1St Source Bank Building Agreement and Meridian Title Improvements Corporation Escrow Host Hotels & Resorts, Hotel Atrium Improvements Agreement L.P., 1St Source Project at the I" Source Bank Corporation and Building