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6B (5)
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03-27-12 Packet
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6B (5)
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make the Millennium Site developable for the purposes stated herein, and shall <br />provide Union Station with a comfort letter from the Indiana Department of <br />Environmental Management allowing Union Station to purchase the Millennium <br />Site without any environmental liability or claims of lienholders. <br />(ii) The Commission shall take all steps reasonably necessary in order to <br />immediately construct the proposed communication and power duct bank <br />depicted as Item 1 -A and 1- B on Exhibit "1 ", under specifications consistent with <br />the initiatives described in the Agreement, including the proposed components to <br />support an upgrade of equipment capable of up to five Megawatts ( "5 MW ") as <br />part of the IC Power System. It is contemplated that the cost of the proposed <br />system will be Two Million Two Hundred Thousand Dollars ($2,200,000) as <br />described in Exhibit "2" which is attached hereto and incorporated herein by <br />reference. <br />Section 2. Union Station Commitments. The Union Station agrees with the Commission <br />as follows: <br />(a.) Phase 1 Commitments. <br />(i) Purchase the Millennium Parcel from the Commission consistent with the <br />Commission's Phase I Commitments described in Section I (a)(i). Cooperate with <br />the Commission in order to facilitate the vacation of United Drive. <br />(ii) Make no less than seven million five hundred thousand dollars <br />($7,500,000) in proposed improvements to expand the IC Power System up to <br />Five Megawatts ( "5 MW ") of capability and improvements in the Renaissance <br />District to support the component parts of the expanded IC Power System. A list <br />of the proposed improvements to be made is attached hereto and made a part <br />hereof as Exhibit "4 ". <br />(iii). In order to permit Commission to recapture its Phase I Commitment <br />described in Section 1(a)(ii), an annual review shall take place between the <br />representatives from Union Station and the Department of Community and <br />Economic Development to calculate the Other Benefits as defined in Exhibit "3" <br />which is attached hereto and is incorporated herein by reference. <br />(iv). In the event there is a shortfall in the Other Revenues provided by Union <br />Station when compared to the total amount the Commission has paid pursuant to <br />Section I(a)(ii) amortized over a ten (10) year period ( "Investment Recapture <br />Period "), Union Station will pay to the Commission within thirty (30) days of <br />receiving the calculation contemplated under Exhibit "3 ". Notwithstanding <br />anything to the contrary, the first payment due from Union Station, if any, shall be <br />due and payable after the third annual review is completed. Any balance due <br />from the first three (3) annual reviews may be paid by Union Station at that time <br />or to amortize the payment over the remaining seven (7) years of the Investment <br />5 <br />
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