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<br />SPECIFICATIONS FOR 11ANAC,EI1E\T OF <br />REREVELOP~IENT RETAIL <br />PROPERTIES <br />Scaled Bids shall be submitted no later than 9:00 a.m. December 5, 2008, in the <br />Office of the Department of Economic and Conununity~ Development, 1200 County- <br />City Building, 227 V1'. Jefferson Bh~d., South Bend, Indiana 46601, for Management <br />of Redevelopment Retail Properties Services for the South Bend Redevelopment <br />Commission. <br />DESCRIPTION OF PROPERTI'. The Rcdevelopmcnt Retail Propa-tics arc all located <br />in Suuth Bail. Indiana, and described as t~~llo~,~s: <br />• 1 I7 Gast Wayne Strcct-Wayne Strcct Garage Retail <br />• I 1 R- 131 S~~uth 'Michigan Street - Leighton Plaza Garage Retail <br />• 1 30 South Main Strcct -Leighton Plaza Courtyard <br />TER:y1 OF ~1ANAGE~IIENT SERVICES. The term of the management sa-~~ices shall <br />be for a period of three (;) years commencing on February I. 2009, and terminating on <br />.lanuarv 31, 2012. <br />MANAGE~9ENT FEE. Each bidder shall specific the amount of and method of <br />computation of the bidder's mana~~cmenl fee ~~ithin U1c tollo~~in~~ maximum fee <br />parameters: <br />• 117 East Wayne Strcct -Wayne Street Garage Rental monthly management fee <br />of Two Hundred Dollars (S200A0) or 5% of gross revenues collected <br />whichever is greater. <br />• 118-131 South :Michigan Strcct -Leighton Plaza Guage Retail Redc~clopment <br />Retail Shops monthly mana~rcment fee of Sig Hundred TwenY~~ Five Dollars <br />(5625.00) or 5% of gross revenues collected whichever is greater. <br />• I >U South Main Strcct -Leighton Plaza Courtyard monthly management fcc will <br />be a flat fcc of Seventy-Five Dollars (x75.00). <br />In addition to the monthly- mana~~emcnt fcc. the Bidder ~~~ill be compensated tax the <br />fibllowin~ sen-ices: <br />a. All expenses for maintenance. repair and work order hroecssing linciuding any <br />inspections by maintenance staft~ arc Property Expenses and arc invoiced bi- <br />~~~cekly and arc due ~~ ithin see cn business days. Maintenance rates shall be <br />specilicd in the bid. <br />b. For coordination of modernization. rehabilitation. and construction the Bidder <br />shall be paid Fi~~c percent (>.0°ro) of the cost in excess of Two Thousand Fi~~c <br />