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South Bend Redevelopment Commission <br />Regular Meeting - August 7, 1998 <br />6. NEW BUSINESS (CONT.) <br />b. continued.... <br />Mrs. Kolata stated that the staff proposes a <br />couple of contingencies regarding the <br />proposal, and they are as follows: (1) A <br />timetable for start and completion of the <br />project was not stated in the proposal. (2) <br />The financial commitment was not provided <br />with the proposal. <br />She also stated that A.C. Rich & Company, <br />Inc. proposed a couple of contingencies: (1) <br />A.C. Rich & Company needs to reach an <br />acceptable conclusion with Air Products <br />Company for the purchase of a contiguous <br />property. (2) A.C. Rich and Company, Inc. <br />needs to secure acceptable financing for the <br />project. (3) A.C. Rich & Company, Inc. <br />needs to receive a favorable environmental <br />report. (4) A.C. Rich & Company, Inc. <br />requests a general Warranty Deed and Title <br />Insurance from the City of South Bend <br />showing no exceptions. (5) A.C. Rich & <br />Company, Inc. requests an Alta minimum <br />standard detailed Survey from the City of <br />South Bend including topography. (6) A.C. <br />Rich & Company, Inc. requests a written, <br />recordable Waiver from American Electric <br />Power for construction and improvement <br />under existing utility lines. <br />The staff has concerns regarding A.C. <br />Rich & Company's proposal, and <br />they are as follows: (1) The timetable <br />for start and completion of <br />construction needs to be determined. <br />(2) The timetable for receiving the <br />Waiver from American Electric <br />HAWPDATA \COMMSN\080798.MW -10- <br />