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

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rc n G"1 ~ ts'r~ F d'I i ~' ~ E._,Mi $'1 1^~~ " ~ `~ Pei ~ Gtl ~ J e'. F3 DI?VF;LOPMENT AGREEMENT Bet~~~een the Cite of South Bend Redevelopment Commission and ~1ichiana Public Broadcasting Corporation Tf11S Agreement, dated the day of . ?UO~. is made and entered into bet~~~een the SOf;TH BEND REDEVELOPMENT COMMISSION (the "Commission") and MICHIANA PUBLIC BROADCASTING CORPORA~fION ("WNI~f"), a nonprofit corporation organized and duly existing nndcr the laws of huiiana (the South Bcnd Redevelopment Commission and WNIT being sometimes referred to herein individually as a ~~PBrtV~~ anCl COIICCTIVCI}~ aS the ~~Pal'l1CS~~~. WHEREAS. WNIT is party to an agreement whereby it has rights and expects to acduire the real properly commonly known as X00 W. Jefferson Bled., South Bend, Indiana ~G60 L and all imprmements thereon. described in f-ahibit -~n.. (the "Property"): and WHEREAS. the donation by WNIT to the Commission of a portion of the Property described in 1-:xhibit °B~~ (the "Donated Propertv~~) ~~ill be made for the sole purpose of allowing the Commission to renovate and improve portions of the structure (the "Projcct~~) ~~~hercin public broadcasting medu~ services arc to be delivered. such services being hereinafter detincd; and WHEREAS. WNf"1~ intends to rcnuxicl and up~~rade the Property, an existing commercial broadcast facility, into a state of the art center for public media scn°ing a h~~enty- two (?a) county area. employing the highest and best use of the specialized Property and making a significant private capital investment in order to improve its interior and exterior appearance and fimctiontdity: and ~'1 II~:RI-:AS. W'NI~I's proposed im~estment in redevelopment of the sU~ucturc and relocation of its broadcast opa~ations and associated employment to do~a~nu~wn Sout{~ Bcnd is representative of, and fw-thers the ~~oals of, the South Bcnd Central De~~clopment Area Development Plan. WHEREAS, comprehensive details of programming and direct and indirect benefits WN[T will provide to the Commission and the residents of the City of South Bend is attached hereto and made a part hereof as Exhibit "E~~; and WHEREAS. the Commission considers the Project a benefit to the health and welfare of all oPthe amuinmit~'s residents. and WHEREAS, the Commission has identiiicd a public purpose in both U`NI~I~s physical redevelopment of the buildin~a as ~~~cll as the pro~aramroing and cultural resources ~~~hich ~~~ill be introduced to the Deg clopment Area as a result and V~'I IEREAS. the Commission ~~~ishcs to participate as a development partner with WN[T by undertaking certain renovations which ~~ould not otherwise be privately funded. and in ~;untini 3]01~7~~'_