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technology known as the Integrated Central Power System (the "IC Power System "). G. Without this expansion, Union Station will not be able to accommodate its sustained growth over the next several years, nor will it be able to assist in the economic development of the Coveleski Planning Development District to the north, and Ignition Park to the south. H. The Commission has already taken steps to assist in the USTC by authorizing at its November 22, 2011, meeting a proposal for professional services by Wightman Petrie related to master planning and street vacation and also to permit staff and the City Legal Department to begin the process of negotiating an appropriate Agreement for the sale and development of the Millennium Environmental site, illustrated on 1 -C of Exhibit "1" which is incorporated herein by reference consisting of 2.6 acres at 604 South Scott Street, in the AEDA (the "Millennium Site "). I. At its January 3, 2012 meeting, the Commission authorized a proposal for a Phase I Environmental Site Assessment, Asbestos Containing Material Survey, and Lead Paint Survey for Ivy Tower, commonly known as 635 South Lafayette; 600 United Drive, and vacant lot on United Drive, situated in the City of South Bend, Indiana ( "Ivy Tower Building "). J. This Agreement is Phase I of the USTC (Phases II and III will be the subject matter- of one (1) or two (2) other separate agreements between the Parties). As part of Phases II and III, it is contemplated Union Station or an affiliate of Union Station will purchase the Ivy Tower Building to expand the capabilities to provide not only Union Station but the surrounding community with an IC Power System. This public private infrastructure development will be capable of serving the SBCDA, Ignition Park, and other secondary buildings within close proximity to the Property. K. The City of South Bend, through its Board of Public Works, has taken further action in support of the USTC by planning and preparing for bid the installation of a communication and power duct bank which connects a power substation on Lafayette Street which will then connect to Union Station and other business and properties in the general vicinity. A depiction of the proposed communication and power duct bank is found on Exhibit "1" as item 1 -A and 1 -B. L. The Commission on June 14, 2011, approved Resolution No. 2897 which set the value of the Millennium Site at $42,500 and further reported on July 12, 2011 no bids for the Millennium Site were received, thus allowing the Commission to approve a purchase at a negotiated price. As part of this Agreement, the Commission and Union Station have agreed on a price of Forty -Two Thousand Five Hundred Dollars ($42,500) for the purchase of the Millennium Site by Union Station or its affiliate. K