Laserfiche WebLink
South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –February 6, 2008 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />F. Northeast Neighborhood Development Area <br /> <br />(1) continued… <br /> <br />Mr. Inks noted that Section 4.8 addresses the <br />use of local labor. The city will be <br />periodically informed of the number of local <br />contractors and laborers involved in the <br />project. Also, the city has done projections <br />as to how many jobs and other benefits will <br />be created by the project, so there are <br />reporting requirements for the first five years <br />after the project to verify that those benefits <br />occur. <br /> <br />Mr. Inks also noted that there is a <br />development delay section in the agreement <br />that provides for penalties up to $1M should <br />various aspects of the project fall behind <br />schedule. <br /> <br />The Commission’s obligations under this <br />agreement include completion of the <br />financing for public infrastructure <br />improvements and acquisition of the <br />remaining right-of-way for the Napoleon St. <br />extension. <br /> <br />In Section 6.1 the agreement anticipates a <br />construction management agreement with <br />Kite Realty Construction. The reason for <br />that stipulation is that this is a large, complex <br />development on a small site. To properly <br />coordinate the various construction aspects, it <br />makes a lot of sense for both parties to have <br />Kite as construction manager. <br /> <br />Sections 6.2 and 6.3 talk about parking <br />garage leases. The first lease is the lease <br />from the Redevelopment Authority to the <br /> 14 <br /> <br />