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01-12-09 Common Council Meeting Agenda & Packet
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01-12-09 Common Council Meeting Agenda & Packet
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1/8/2009 2:42:11 PM
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City Council - City Clerk
City Council - Document Type
Agendas
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vi. The Mayor or the Controller for the City of South Bend shall be <br />authorized to execute this Agreement on behalf of the City of South <br />Bend, Indiana. <br />c. Duties of Mishawaka. <br />Mishawaka hereby agrees as follows: <br />i. Mishawaka shall pay its pro-rata share of the Project Cost to the <br />Controller for the City of South Bend with said monies to be used in <br />accordance with this Agreement. Such pro-rate share -shall include the <br />following: <br />Direct contribution of funds for constriction of 300 ft of $175,000.00 <br />roadway located in Mishawaka <br />Direct contribution of % cost of conduit for Metronet $75,000.00 <br />located in Mishawaka and connecting Mishawaka from <br />unincorporated areas <br />Loan of funds from Grape Road TIF to Douglas Road TIF $1,150,000.00 <br />Mishawaka Total Pro-Rata Share $1,400,000.00 <br />ii. As condition of the loan of funds from the Grape Road .TIF, <br />• Mishawaka agrees to accept repayment over a teen not to exceed <br />twenty (20) years at an annual interest rate of 5% ("TIF Loan"). The <br />TIF Loan shall be paid as first priority and there shall be no pre- <br />payment penalty. The intent of this provision is that once South Bend <br />makes its annual payment to Mishawaka, and such payment is current, <br />South Bend is not barred from using funds for other purposes <br />permitted by law. <br />III. ADMINSTRATION <br />This Agreement shall be administered by the Board of Public Works for the City <br />of South Bend. Contract modification or adjustments that modify the construction cost <br />on the project shall be subject to the approval of all parties to the Agreement via facsimile <br />or email. Upon completion of the construction project, a final audit shall be performed <br />by the City of South Bend. All costs in excess of the stated Project Cost shall be shared <br />by all parties on a pro-rata basis. Changes within one jurisdiction for the primary benefit <br />of that jurisdiction shall be paid for by the applicable jurisdiction and shall not be subject <br />to cost sharing. <br />South Bend shall advise all parties to the agreement of any contract modifications <br />or change orders that modify the final construction cost of the Project via e-mail or <br />facsimile. Upon completion of construction of the Project, a final audit shall be <br />preformed by South Bend and presented to Mishawaka for review and approval. Any <br />approved costs in excess of the stated Project Cost shall be shared on a pro-rata basis by <br />the Parties. Changes within one jurisdiction for the primary benefit of that jurisdiction <br />4 <br />F:\.*.\Projects\BPW1Dou~ins Road_lnterlocal Agreemen[_sB Mishawaka _V2_031229.doc <br />
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