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South Bend Redevelopment Commission <br />Regular Meeting –April 10, 2012 <br />redevelopment, several stellar projects in the <br />city over the last several years were <br />accomplished by the latter method, and Phase <br />II of this project would fit into that category. <br />The challenge with brownfield or greyfield <br />redevelopment is that there are many more <br />impediments to site development than <br />development on a greenfield site. By playing <br />a role in obstacle removal and burden <br />sharing, brownfield and greyfield <br />redevelopment begins to balance with the <br />cost delta of greenfield development. In <br />Phase II of the Renaissance District project, <br />staff is requesting the Redevelopment <br />Commission perform the role of site <br />preparation to help facilitate reuse of the Ivy <br />Tower site. <br />The proposal, and the subsequent <br />Memorandum of Understanding for Phase II <br />contemplates the Commission doing the <br />following two items: <br />1. Obtain a Phase I and II <br />Environmental Survey of the Ivy Tower <br />Building, and enter into an Environmental <br />Agreement regarding remediation of the Ivy <br />Tower Building and property. The studies <br />contemplate two potentially significant <br />environmental issues on- site — asbestos and <br />lead based paint. Based on an estimate <br />provided by the environmental consulting <br />team, the projected cost of total building <br />remediation is $2,611,189 with $655,754 for <br />asbestos remediation and $1,955,435 for lead <br />based paint abatement. <br />As a component of the environmental <br />remediation of the site, the City will enter <br />into an Environmental Agreement ( "EA ") <br />regarding the Ivy Tower Building. <br />13 <br />