Laserfiche WebLink
• The South Bend Redevelopment Authority <br />February 6, 2008 Meeting Minutes <br />City's normal bid procedures. The lease will be for twenty five years, and the <br />successful bidder will be responsible for all operations and maintenance, <br />including capital maintenance of the garage for the twenty five .years. At the end <br />of that term the garage will be conveyed to the Developer. <br />In the default provisions, if the commitments are met as outlined then there will <br />be certain delay fees and this agreement details what is considered a delay. <br />Mr. Hill said one important point, is that the parking garage will be turned over to <br />the developer for its use and operation. The garage will generate taxes, which are <br />very important to the structure of the financing. <br />Mr. Alvarez asked if the use of local contractors was abest-effort basis since there <br />are no numbers or percentages given. Mr. Inks said there is language in the <br />agreement that states that the Developer will meet with business agents. On the <br />reporting side, we will get reports on all the contracts being issued so we can see <br />how many local contractors are participating in the project. Mr. Alvarez asked <br />how Kite would let the local community know about the opportunities to <br />participate in the project. Ashley Ottesen, from Kite Realty Group, said they have <br />already met with local contractors. She was not sure how it had been advertised, <br />but she will get back with us about that. She said they have already had apre-bid <br />meeting with the local contractors letting them know what will go out to bid. Mr. <br />Inks said it was reported in the Tribune Business Weekly last week that Michiana <br />Area Industry Advancement Fund met with Kite about the Eddy Street Commons <br />project. Mr. Alvarez said he would feel more comfortable if an amount or a <br />percent of local contractors would be used. He knows that since this is such a <br />large project that it can be difficult to find large enough local contractors to handle <br />the work, but they could be sub-contractors. Mr. Alvarez said he is very adamant <br />that local contractors be involved in the project. Ms. Ottesen said they will <br />continue to meet with any groups we would like Kite to meet with. <br />Ms. Pfotenhauer asked for a definition of a "quality residential" and a "quality <br />hotel" to Kite. Mr. Malloy, of Kite, said the elevations of the project show a lot of <br />brick rather than vinyl. Ms. Ottesen said they are using materials that will look <br />good over time. Ms. Pfotenhauer asked if "quality" would be used in relationship <br />to who was going to operate the hotel, as well, and Ms. Ottesen said Ms. <br />Pfotenhauer was correct. Mr. Greg Hakenen, from Notre Dame University, said <br />that this project is very important to the University from a very long term <br />perspective, meaning 50 to 150 years. From the very beginning the University <br />established the principle that the development must be a quality development. The <br />developer is not being required to build to the standards that the University builds <br />to, which is 100 year buildings, but they are above what a typical spec developer <br />3 <br />H:\W PDATAW UTHORTY\020608. MIN. DOC <br />