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South Bend Redevelopment Commission Regular Meeting —June 26, 2014 6. NEW BUSINESS (CONT.) B. Airport Economic Development Area (4) continued... Mr. Relos noted that Resolution No. 3217 approves an agency agreement with the Board of Works to oversee infrastructure improvements for the 13 -acre site Great Lakes Capital plan to develop a three building, multi- tenant campus in Ignition Park. The development agreement with Great Lakes Capital for this project was approved on March 27, 2014. Staff requests approval of Resolution No. 3217 and the Addendum to the Master Agency Agreement in a not -to- exceed amount of $2,700,000. Mr. Varner asked whether the Commission's commitment is constrained to only site improvements and infrastructure, or will we be covering facade enhancements as was done for Data Realty. Mr. Relos responded that the development agreement states "local public improvements including site work, parking improvements, fagade enhancements if necessary, utility and other site and infrastructure related improvements which will be agreed upon when the final plans for the project are approved." Mr. Fielding responded that staff's number one goal in a development agreement is to stay out of facade improvements. Our conversation with Great Lakes Capital has focused on concrete foundations so that as a city we can assure we are following all of IDEM's guidelines for the site. Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the Commission approved Resolution No. 3217 approving and authorizing the execution of an Addendum to the Master Agency Agreement (Ignition Park Multi- Tenant Campus) (5) Resolution No. 3219 approving and authorizing the execution of an Amendment to the Addendum to the Master Agency Agreement. (Hamilton 917 S. Lafayette Demo Project) Mr. Relos noted that Resolution No. 3219 authorizes an increase to the budget for demolition and clearance of the remaining (SW corner) of the Hamilton Towing property. The budget for the demolition was $80,000. When the Board of Public Works received bids for the demolition, the low bid came in at $89,500. That bid includes a $5,000 unforeseen environmental allowance, so if they don't find any environmental issues, the actual price will be $84,500. Staff requests approval of Resolution No. 3219 in an amount not -to- exceed $100,000. Mr. Relos noted that in sites like this it is not uncommon to find old foundations that require additional expense to remove. Upon a motion by Mr. Varner, seconded by Mr. Inks and unanimously carried, the Commission approved Resolution No. 3219 approving and authorizing the execution of an Amendment to the Addendum to the Master Agency Agreement with a not -to- exceed budget of $100,000 (Hamilton 917 S. Lafayette Demo Project). 8