No. 2394 approving a Development Agreement with Douglas Road Retail Partners L.P., Douglas Road Partners L.P. and the City of South Bend, Indiana and other related matters

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t TOTAL PROJECT COSTS X2,550,518 B. Construction of Project. The Board and the Commission hereby approve the Project as a local public improvement for purposes of Indiana Code § 36-7-14-1 et seq. The Commission hereby empowers and appoints the Board to act as the Commission's agent for the purpose of contracting for the acquisition and construction of the Project in accordance with the plans as approved by the Commission and filed with the Board from time to time (the "Plan"). The Board shall select the type, quantity, suppliers, construction contractors and subcontractors, materialmen and installers of the improvements and appurtenances on behalf of the Commission and the Board. The Board is independently empowered to construct the Project, and the Commission hereby agrees to reimburse the Board of expenditures related to the construction of the Project from the proceeds of the Bonds to the extent permissible under the Commission's obligations and agreements relating to the Bonds. This agency may be terminated upon breach by the Commission or the Board of this section by the non-breaching party at least seven (7) days in advance of the date of termination of agency. The authority and appointment by the Commission herein contained is limited to a total construction and financing cost for the Project, as established by the receipt and award of construction contracts by the Board pursuant to the Project Agreement. The Board hereby accepts the appointment of agency by the Commission as described in section. The Board shall construct the Project pursuant to Indiana Code § 36-1-12 and shall execute all contracts pursuant to said chapter on behalf of the Commission. The Board, in the bidding of the contracts pursuant to said chapter, shall adopt specifications pertaining to the work to be performed, the timetable for the performance of the work, require performance, payment, and maintenance bonds, and such other matters as may be required by statute and/or the prevailing conditions in the South Bend community for public construction, provided such conditions, specifications, and matters are in accordance with the Plans and all supplements and amendments thereto. The Board may make such modifications and amendments to the Plans as required for the construction of the Project consistent with the overall design set forth in the Plans, as approved by the Commission, and may adopt such special conditions as may be required in its opinion to satisfactorily complete the construction of the Project, provided that such modifications, amendments or special conditions do not alter the character of the Project or reduce the value thereof. • 10