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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -June 23, 2006 <br />6. NEW BUSINESS <br />D. South Bend Central Development Area <br />continue ... <br />Michigan St. representing a basic agreement <br />that is acceptable to both the parties that will <br />serve as a foundation for negotiating the <br />terms of a development agreement for the <br />site. <br />(1) Commission approval requested for <br />professional architectural services in the <br />South Bend Central Development Area. <br />(101 N. Michigan -American Bank & <br />Trust Company) <br />Ms. Laurent noted that staff is presenting a <br />letter agreement for Commission approval <br />proposing professional architectural and <br />design services for restoration of the exterior <br />facade of the former American Bank and <br />Trust Company building at 101 N. Michigan. <br />It is anticipated that a development <br />agreement will be negotiated and signed with <br />the new owners of the historic building, Brad <br />Toothaker and Mike Wargo, that will allow <br />for the complete adaptive reuse of the <br />building. As part of this agreement, the <br />Commission would hold a perpetual <br />easement on the facade and bring public <br />dollars to restore the facade to its former <br />beauty. Bill Lamie of Architecture Design <br />Group (ADG) has been hired by the partners <br />to oversee the design phase and manage the <br />Federal Historic Preservation Tax Credit <br />application process. It is critical that this be <br />coordinated with the exterior work, and <br />therefore ADG's professional services are <br />recommended. The basis of compensation <br />will be 11 % of the cost of construction. The <br />FOR NEGOTIATING THE TERMS OF A <br />DEVELOPMENT AGREEMENT FOR THE SITE <br />13 <br />