02-28-13 Redevelopment Commission Minutes.docx

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South Bend Redevelopment Commission Regular Meeting—February 28, 2013 6. NEW BUSINESS D. South Side Development Area (1) continued... 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 and Walter Streets to the theater complex, and working with private property owners to assemble development sites. In 2006, the City of South Bend began a partnership with Gates Automotive to work on site assembly for a new GM and Toyota dealership on the 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 Toyota built at Erskine Commons. Gates had continued their massive assembly of property in the 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 transfers 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 much iteration, 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. This 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 shows the conveyance path and overlays the final road right-of-way on the map. There is also a full workout of the square foot transfer plan. The final cash value on the transfer is $79,090, which includes all costs associated with land transfers and residual parcel acquisition. At the end of the process, Gates will have two parcels, one 3.13 acres and the other 1.42 acres that are both shovel ready for new commercial development in the corridor. The purpose for having both the Commission and the Board of Public Works act on this item is that the original agreement was between Gates and the Commission and to have Commission's approval will bring the agreement into alignment with the amendment. The 11