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DTSB I Bringing the River to Light This meeting and consequent conversations inspired DTSB to spearhead the construction of a unique community and economic development lighting project titled `Bringing the River to Light." The project entails constructing two interactive "light pillars" on the east and west banks of the river near Seitz Park and the Century Center Island respectively. The two pillars will symbolically unite the two sides of the river, illuminate it with an array of lights, amplify the majesty of the cascades, and highlight the "Keeper of the Fire" sculpture. In addition, carefully crafted lighting will be installed on the Jefferson Street Bridge and along this dynamic portion of the river walk to further enhance the impact. Far from an orthodox illumination project, this project will consist of a dramatic, interactive display of colors designed to evoke emotion and impact. Phase I of the project, which involves additional stakeholder engagement, further site study, computer modeling, illumination engineering and systems control integration, is already in motion. Funding from the Redevelopment Commission is being requested to help complete this phase, which is expected to conclude in early 2013. DTSB is currently fundraising for Phase Il (construction) and Phase III (installation) which is projected to be complete in the late summer of 2013. DTSB has already submitted three grants requests — two local and one state -wide, specifically for this project. Partner agencies and corporate sponsors have expressed significant interest in this project and DTSB has internally committed to underwriting approximately 15 % of the project costs. Discussions are underway to power this project by the newly installed hydroelectric turbines, offering a clean energy source and eliminating the need for on -going utility costs. Management, repairs and maintenance of this project will fall upon DTSB, with support from the City of South Bend. PROJECT BUDGET & TIMELINE Recognizing that the true cost of this project cannot be realized until Phase If is complete; Rob Shakespeare has provided the following initial estimates for Phase III & IV Expenses 12,550 $ Phase 1: July 2012 — September 2012 $ 1.000 Initial Site Visit, Stakeholder Meetings, Feasibility & Recommendations 100,000 Phase U: November 2012 — February 2013 $ 12.550 Further Site Study, Concept Development, Computer Modeling, Illumination Engineering, Systems Control Integration Phase III: February 2013 — July 2013 $ 320,000' Off -site Construction & Integration, On -Site Testing, Material Optimization Phase IV: August 2013 $ 67.000` Installation & Testing, Grand Opening Totallnvestinent $ 400,550.00 Proposed Revenue Model DTSB Underwriting City of South Bend Redevelopment Commission Grant Funding Community Partner Agencies & Other Private & Corporate Sponsors * E timale Aimadv eommined (S I, 000 dispersed for Phase 1). $ 55,000 $ 12,550 $ 150,000 $ 83,000 $ 100,000 Revenue Total $ 400,550.00 3 1 P a g e