6.B.(2) Staff report on Michiana Public Broadcasting project

Home Browse Search

DEVELOPMENT AGREEIVIIENT Bet~~~een the City of South Bend Redevelopment Commission and Michiana Public Broadcasting Corporation THIS Agreement, dated the ~ day of^ PO rn~~_; 2008, is made and entered into between the SOUTH BEND REDEVELOPMENT COMMISSION (the "Commission") and MICHIANA PUBLIC BROADCASTING CORPORATION ("WNIT"), a nonprofit corporation organized and duly existing under the laws of Indiana (the South Bend Redevelopment Commission and WNIT being sometimes refen•ed to herein individually as a "Party" and co]lectively as the "Parties"). WHEREAS, WNIT is party to an agreement whereby it has rights and expects to acquire the real property commonly known as 300 W. Jefferson Blvd., South Bend, lndiana 46601, and all improvements thereon, described in Exhibit A (the "Property"); and WHEREAS, the granting by WNIT to the Commission of an Easement of a portion of the Property described in Exhibit B (the "Easement Property') ~~~ill be made for the sole purpose of allowing the Commission to renovate and improve portions of the structure (the `'Project") wherein public broadcasting media services are to be delivered, such services being het•einafter defined; and WHEREAS, WNIT intends to remodel and upgrade the Property, excluding the Easement Property, from an existing commercial broadcast facility, into a state of the art center for public media serving atwenty-two (22) county area, employing the highest and best use of the specialized Property and making a significant private capital investment in order to improve its interior and exterior appearance and functionality; and WHEREAS, WNIT•s proposed investment in redevelopment of the structure and relocation of its broadcast operations and associated employment to downtown South Bend is representative of, and furthers the goals of. the South Bend Central Development Area Development Plan; and WHEREAS, comprehensive details of programming and direct and indirect benefits WNIT will provide to the Commission and the residents of the City of South Bend is attached hereto and made a part hereof as Exhibit F; and WHEREAS, the Commission considers the Project a benefit to the health and welfare of all of the community•s residents, and WHEREAS, the Commission has identified a public purpose in both WNIT's physical redevelopment of the building as well as the programming and cultural resources which will be introduced to the Development Area as a result; and WHEREAS, the Commission wishes to participate as a development partner with WNIT by undertaking certain renovations which would not otherwise be privately funded, and in BDDt3Gl 52625?3~2