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South Bend Redevelopment Commission <br />Regular Meeting —April 10, 2012 <br />2. Upon closing on the Ivy Tower <br />Building purchase by USTC, provide <br />$3,500,000 of improvements to structurally <br />stabilize and enhance the building for its <br />reuse. <br />3. Work with Union Station or its <br />affiliate on planning the Ivy Tower <br />improvements in order to best adapt the Ivy <br />Tower Building as a collaborative, multi - <br />tenant facility to revitalize the Renaissance <br />District. <br />The total Commission investment in to Phase <br />II of the project is projected to be <br />$6,150,000. <br />In exchange for financial participation by the <br />City and Redevelopment Commission in <br />Phase II of the project, the Union Station <br />Technology Center group or its affiliate will <br />do the following: <br />1. Take all reasonable steps to close on <br />the purchase of the Ivy Tower Building to <br />facilitate the USTC, as well as to provide an <br />opportunity for other businesses to expand <br />and relocate within the Ivy Tower Building, <br />including but not limited to, providing the <br />Commission with a Business Plan which <br />shows the cooperative reuse of multiple <br />businesses within the Ivy Tower Building, as <br />well as providing reasonable space within the <br />Ivy Tower Building for use by the <br />Commission and other public agencies. <br />2. Make no less than $1,000,000 in <br />improvements each year in the Renaissance <br />District for a ten (10) year period, and <br />provide the Commission on an annual basis <br />with proof of compliance with this <br />14 <br />