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ATTACHMENT C <br />PROJECT ECONOMIC DEVELOPMENT GOALS <br />Fredrickson Park <br />South Bend, Indiana <br />The City of South Bend (the "Borrower") identifies the following Economic Development <br />Goals and schedule for the Brownfields Project that must be achieved by the Borrower in order to <br />achieve forgiveness of percent (_%) of the Brownfields Loan. At its sole discretion, IDFA <br />may forgive a portion less than percent (_%) if all of the Economic Development Goals <br />stated below are not met. <br />Economic Development Goals and Schedule: <br />1. Remediation of the site through construction of a soil cover that will be installed over existing <br />waste to eliminate direct contact with the public. Installation of a gas collection and control <br />system to minimize gas migration from the facility. This work will be complete within <br />eighteen (18) months of the date of the loan closing with the IDFA. <br />2. The remedial work described above will render the site suitable for development of the <br />Fredrickson Park Environmental, Educational .Center (the "Park"), which will transform a <br />longstanding neighborhood eyesore in the midst of a low income South Bend neighborhood <br />into an attractive municipal asset. Phase I of the project takes the site from a negative situation <br />to neutral. This includes remediation of the site, installation of the cap and installation of the <br />venting system. At the end of Phase I the site will have plantings including grass, wetland <br />plants, ground cover and will have unpaved walking paths. Off the cap the Borrower will plant <br />tress and other plants to demonstrate phyto-remediation. This first phase of Park development <br />will be complete within eighteen months of initiating field work, as described in the <br />Remediation Plans. <br />3. Remediation activities at the Brownfields Project will provide in excess of $200,000 in <br />construction and related wages. <br />Documentation that the Brownfields Project remediation has been completed will be <br />memorialized in Final Landfill Closure Report and documentation that the forgoing Economic <br />Development Goals have been fully or partially realized will be memorialized in the Development <br />Certification. The Final Landfill Closure Report, including documentation of IDEM acceptance (the <br />"Environmental Certification"), and the Development Certification are collectively due to the IDFA on <br />or before February 28, 2005. <br />. ~- ~,_.,.~----~i <br /> <br /> <br /> ~~ <br /> <br /> <br />