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` )uth Bend Redevelopment Commission <br />egular Meeting - March 18, 1994 <br />6. NEW BUSINESS (Cont.) <br />t- <br />e. continued... <br />be transferred until the end of the lease term <br />(20 years) . <br />The Proposal Forms are complete and a letter <br />of credit in the amount of $4,000 has been <br />received as a faithful performance guaranty. <br />The staff recommends that the Commission <br />approve the proposal as submitted, subject to <br />the review of proposed building, site and <br />landscaping plans by the staff for compliance <br />with Toll Road Industrial Park covenants and <br />Design Guidelines drafted for the Airport <br />Economic Development Area. <br />The staff also requests the Commission's <br />approval for staff to determine a "buy -out" <br />price to be included in the Lease agreement. <br />This "buy -out" price would be the price <br />which Dearborn would pay to satisfy <br />Redevelopment's bond requirements which <br />would allow immediate transfer of title from <br />Redevelopment to Dearborn. <br />Mr. Larry Dunville, Dearborn Crane, <br />showed site plans for the building and <br />explained the project further. He noted that <br />overhead bridge cranes can be anywhere <br />from 15 feet to 100 feet long and usually are <br />one long piece. The loading doors are at <br />the front of the building so trucks can <br />maneuver the cranes efficiently in a minimum <br />amount of land. The building will have a <br />single pitch roof in anticipation of future <br />expansion, at which time a mirrored building <br />will be constructed on the site. <br />N1 <br />