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45pU71(8R M, 1 Department of Community Memorandum Investment Wednesday, February 13, 2013 TO: RedevelopmenUAed sion and d of Public Works FROM: Bill Schalliol SUBJECT: Amendment to Counter -Offer - Caroline Partners /Gates & Gates Realty Attached to this memorandum is the Amendment to Accepted counter -Offer related to property acquisition and transfer between the South Bend Redevelopment Commission ( "Commission ") and Gates & Gates Realty, LLC (formerly Caroline Partners) ( "Gates "). The original agreement between the Commission and Gates dates back to June 13, 2007, and created a framework between the partners in which both parties were going to acquire, clear and transfer land between the partners to allow for right -of -way necessary for the Main - Lafayette Connector project to be transferred to the Commission from Gates in exchange for consolidated properties and excess land to be transferred to Gates from the Commission. The agreement between the partners was based upon a site plan that was part of the planning documents for the corridor that were developed in 2004. The original city design was to construct a crossover intersection merging Main into Lafayette, constructing a new drive from Michigan at Walter Streetto the Theater complex, and working with private property owners to assemble development sites. In 2006, the City began a partnership with Gates Automotive to work on site assembly for a new GM and Toyota dealership on the City's south side. The project originally included total acquisition of all properties in the SE quadrant of the new crossover roadway, but the site footprint was called back when the Toyota site landed at Erskine Commons. Gates had continued their massive assembly of property in the block area between Main and Lafayette and the Commission determined that a joint approach would help consolidate the site. In 2007, the original deal was approved between the Commission and Gates and the parties identified in the agreement certain properties that would transfer to Gates and certain properties that would transfer to the Commission. Many of the transfer were done at the time but the agreement contemplated a final transfer at the time that the final right -of -way alignment for the Main - Lafayette project was established. In 2010, Lawson- Fisher & Associates was hired to design the Main - Lafayette Connector. After many iterations a final design path was established in 2012. Once the property and right -of -way line were established, the property acquisition team, which included DLZ, began the process of working with the Gates team to finalize and amend the 2007 agreement. The attached document describes all of the conveyance pieces associated with this transaction and sets a final value for the right of way needing to be acquired. The drawing included in the packet (page 6) shows the conveyance path and overlays the final road right -of -way on the map. There is also a full work out of the square foot transfer plan on page 5. The final cash value of the transfer is 227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV