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South Bend Redevelopment Commission <br /> Regular Meeting—September 13, 2012 <br /> additional power. It was unexpected on his <br /> behalf and unexpected on AEP's behalf. <br /> There is a critical time element and he thinks <br /> the city needs to be prudent but sensitive to <br /> the time reality. Mr. Davis said that he is in <br /> support of the Renaissance District project, <br /> but there are people living there. <br /> Upon a motion by Mr. Downes seconded by COMMISSION APPROVED THE CONTRACT WITH <br /> Mr. Varner, the Commission approved the AEP TO PROVIDE ALTERNATE FEED SERVICES <br /> Contract with AEP to provide Alternate Feed TO UNION STATION TECHNOLOGY CENTER IN <br /> THE AMOUNT OF$165,000,CONTINGENT UPON <br /> Services to Union Station Technology Center SATISFACTORY INFORMATION BEING PROVIDED <br /> in the amount of$165,000, contingent upon IN THE NEXT TWO WEEKS REGARDING THE <br /> satisfactory information being provided in SAFETY OF THE POWER LINE BEING BROUGHT TO <br /> the next two weeks regarding the safety of THAT LOCATION <br /> the power line being brought to that location. <br /> Mr. Davis opposed. <br /> (2) Contract for Sale of Land for Private <br /> Development by and between the City of <br /> South Bend and the South Bend <br /> Redevelopment Commission and AJW <br /> South Bend Realty Corp. and the TJX <br /> Companies, Inc. (Estoppel Certificate). <br /> Mr. Meteiver explained that an estoppel <br /> certificate is requested when you have a real <br /> estate transaction and certain conditions that <br /> are attached to the property. In this case <br /> there are a number of conditions, some of <br /> which run with the land, and other conditions <br /> that bind only the current contracting party— <br /> TXJ in this particular case. In order to close <br /> the upcoming transaction, the purchaser <br /> needs to know the status of the property. <br /> We, as the contracting party to the <br /> conditions, have the best knowledge as to <br /> what the condition of the property is---what <br /> restrictions might be in violation or satisfied. <br /> We also know whether they run with the land <br /> or whether they are personal to TJX. TJX <br /> 16 <br />