No. 3052 approving/authorizing the execution of an addendum to the master agency agreement (Union Station Technology Center, MOU 1 Budget)

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