6.C.(1) Development Agreement - Laserfiche WebLink

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l' ~ ~ ~~ Community & E c o n o m i c ~, ~pUrp BF`6~. ~ ~~~. Development ~~r~~' s-' Ines ,.,a~'. ~~~a~~ 1200 County-City Building, 227 West lefierson, South Bend, Indiana 46601-1830 Phone 574/7.35 9311 Fax 574/235-90?1 To: From: Subject: Date: Redevelopment Commission Jennifer Laurent Michiana Broadcasting Development Agreement Noy°ember 4. ?008 In May of ?008. the Conunissirn~ approved a proposal fi-om Michiana Public Broadcasting (W'NIT) advancing a concept t~~r relocation of their studios from the current facility in Elkhart to the W SB~f building at 300 W Jefferson (across the street). The public benefit of the redevelopment prc~jcct is si~niiicant, as jobs that would otherwise be lost upon WSB~I~~s relocation are replaced. and the specialized building is occupied and upgraded inunediatcly, with an o~-°erall private investment of 53.700.000. The contract presented today outlines the teens by which the Commissions assistance of S 1.000,000 toward funding of consU~uction for the new exterior and public lobby area of the building will be used. The Commission will acquire a portion of the propeirty. creating a parcel of laud encompassing the exterior fa~;adcs along Jetcrson and Laiaycttc as ~a-ell as the corner where the three story atrium lobby will be located. ~'c would work within a professional services contract with the Troyer Group to create astand-alone project budget f~~r consh~uction work for the new exterior and lobby and specifications for public bidding, ~~hich would be overseen by the Board ot~ Public Works as the Commission's agent. Michiana Public Broadcasting agrees to maintain operations for a minimum often years, fu1t711ing a public arts role in the downtown through its progranuuing and cultural resowces. 1 can answer any questions you may have. Your approval is recommended. Document? What We Do Today Makes A Difference!