2 Minutes 4/24/14 Meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting—April 24, 2014 6. NEW BUSINESS (CONT.) C. Airport Economic Development Area (5) continued... Mr. Relos noted that the Amendment incorporates certain changes into the Equipment Lease. The changes are clarifications,mainly to Section 3.02 of the MOU,which stated that F Cubed would be located in Ignition Park,the Renaissance District,or the larger AEDA. That statement now appears in the Equipment Lease. It did not appear in the Equipment Lease before. The Lease also had some requirements that the Lessor(Redevelopment Commission)had to sign off on routine maintenance of the equipment. Those statements were stricken, allowing F Cubed to use its good judgment for appropriate repair of the equipment. Staff requests approval of the Amendment to the MOU and the Equipment Lease. Mr. Meteiver mentioned one additional change. The original Equipment Lease provided for a term commencing on the delivery of the equipment. However,there were staggered delivery dates of the equipment, so the commencement of the Lease was designated as November 22, 2012,the date the last piece of equipment was delivered. Upon a motion by Mr. Inks, seconded by Mr. Downes and unanimously carried, the Commission approved the Amendment to Economic Development Memorandum of Understanding(MOU)with F Cubed, LLC and the associated Equipment Lease. (6) Contract for Appraisal Services for Blackthorn Golf Course(Hughes & Company, Inc.) Mr. Zeeb noted that on March 27,2014, staff informed the Commission that it planned to seek proposals from qualified appraisers to value Blackthorn Golf Course. Seven requests were sent out; four appraisers submitted proposals. Staff recommends selection of the two low appraisal companies: Hughes and Company, Inc. ($6,500) and Valbridge Property Advisors($6,900). Upon execution of the contracts, the companies will begin the appraisal process, with completed valuation reports expected to be received within 45 days. Staff requests approval of these two professional services contracts in the total amount of$13,400. Upon a motion by Ms. Schey, seconded by Mr. Downes and unanimously carried, the Commission accepted the proposal from Hughes &Associates for appraisal of Blackthorn Golf Course for the scope of services and fee proposed. (7) Contract for Appraisal Services for Blackthorn Golf Course (Valbridge Property Advisors) 11