Laserfiche WebLink
OFFERING SHEET <br /> SOUTH BEND REDEVELOPMENT COMMISSION <br /> The South Bend Redevelopment Commission (the "Commission"), the governing body of the <br /> City of South Bend, Indiana (the "City"), Department of Redevelopment, is offering for lease certain <br /> personal property as described at Exhibit A attached hereto and incorporated herein (the "Property"). The <br /> Property is to be used for economic development purposes in the Airport Economic Development Area <br /> (the "Area") and such use must comply with all requirements, terms, conditions, and limitations as set <br /> forth herein. The following are the terms upon which the Commission will lease the Property: <br /> Lease: The term of the lease agreement for the Property shall be seven (7) years <br /> and the pricing terms shall be based upon a total Property value equal to <br /> $138,000 (the "Property Value"). Annual rental payments under the <br /> lease agreement shall be approximately one-seventh (1/7) of the Property <br /> Value, unless otherwise agreed to by the Commission and the successful <br /> bidder taking into account any additional agreed upon obligations of the <br /> successful bidder. The lease agreement shall contain such other terms <br /> and conditions mutually agreed to by the Commission and the successful <br /> bidder. <br /> Conditions: The Property may only be used for economic development purposes <br /> within the Area. The successful bidder for the Property must <br /> demonstrate to the satisfaction of the Commission that such successful <br /> bidder will (a)promptly upon the completion of the first multi-tenant <br /> facility at Ignition Park locate or relocate all of its City operations to a <br /> location at or within Ignition Park, the South Bend Renaissance District <br /> or otherwise within the Area and (b) utilize the Property in accordance <br /> with a plan that anticipates the creation of at least thirteen (13) new jobs <br /> in the Area that are related to the technology or biotechnology sector and <br /> new capital investment of at least$2,600,000 within the Area. <br /> Any proposals submitted to the Commission must be executed by an authorized individual and <br /> describe with specificity the use of the Property in conjunction with the development thereof and <br /> acknowledgment of the terms and conditions described hereinabove. In determining the best proposals, <br /> the Commission shall consider the factors set forth in Indiana Code 36-7-14-22(f). <br /> Dated this day of , 2012. <br /> SOUTH BEND <br /> REDEVELOPMENT COMMISSION <br /> By: <br /> President <br /> DMS US 51065959v2 <br />