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South Bend Redevelopment Commission <br /> Regular Meeting—April 24, 2014 <br /> 6. NEW BUSINESS (CONT.) <br /> B. South Bend Central Development Area <br /> (3) continued... <br /> In an effort to solicit a broad range of potential redevelopment opportunities for the former <br /> College Football Hall of Fame, Community Investment staff in collaboration with <br /> Newmark, Grubb Cressy& Everett, which is listing agent for the building, issued a Call for <br /> Offers for the reuse of the building in June 2013. Staff received four proposals submitted by <br /> I interested parties by July 31,2013. <br /> Although none of the proposals were fully responsive, the Culinary Center Coalition <br /> proposal was developed to a point that merited further discussion and captured staff's <br /> imagination. Over the past few months, staff has continued conversation with the Culinary <br /> Center Coalition regarding their proposal and is interested in further determining the <br /> feasibility of the concept. The other proposals were considered unresponsive and notified of <br /> such findings. <br /> In March 2014, staff received an additional offer to purchase the building, but the offer was <br /> determined to be unresponsive. <br /> k <br /> The Culinary Center Coalition proposal calls for the conversion of the former College <br /> Football Hall of Fame building into the Ivy Tech Culinary Arts & Food Education (CAFE) <br /> Center. The coalition foresees an enlarged Ivy Tech culinary arts program in the building <br /> with highly visible aquaculture and hydroponic components. At its full potential, the concept <br /> could create a center of interdisciplinary food and sustainability research, training and public <br /> I education in the heart of downtown South Bend. Staff believes the project could have a great <br /> I impact on the hospitality industry at both the regional and local levels. <br /> Ivy Tech's concept would help seed culinary entrepreneurship, while also maintaining a <br /> vibrant atmosphere around this important downtown anchor. In order for Ivy Tech to fully <br /> i explore the feasibility of the project, it needs to have a public claim on the Hall of Fame for <br /> 1 a certain period of time. The memorandum of understanding outlines the terms of such an <br /> agreement. <br /> 1 <br /> 1 The memorandum of understanding is an Exclusivity Agreement/Right of First Refusal <br /> IAgreement between the Redevelopment Commission and Ivy Tech is structured as a two- <br /> phased agreement: <br /> t <br /> 1 1. Exclusivity Period: April 24- October 24, 2014, the Redevelopment Commission will not <br /> accept any offers for the sale or lease of the building; and, Ivy Tech will have the exclusive <br /> right to propose a project for the reuse of the Hall. <br /> 1 2. Right of First Refusal/Extension Term: October 24-December 24, 2014: The <br /> Redevelopment Commission could receive offers and would be obligated to notify Ivy Tech <br /> 3 <br /> 8 <br /> 1 <br />