HomeMy WebLinkAbout6E(2) Project AssignmentC ~- ~2~
Crowe Hormrath
Crowe Horwath LLP
Independent Member Crowe Horwalh International
10 West Market Street, Suite 2000
Indianapolis, Indiana 46204-2975
Tel 317.632.1100
Fax 317.635.6127
www. croweho rwath. com
January 4, 2011
PROJECT ASSIGNMENT
City of South Bend, Indiana
This document is a Project Assignment based on an agreement entered into between the City of
South Bend -Community & Economic Development Office ("CED Office") and Crowe Horvath
LLP ("Crowe") dated February 3, 2010.
The title of this Project Assignment is: City of South Bend -General Consulting
Erskine Commons Project ("Project")
Services provided by Crowe under this agreement would include general consulting services
related to financial matters of the Project, including but not limited specifically to the following:
• Analysis of future cash flow of the Tax Increment Financing ("TIF") Area based upon
assumptions provided by the CED Office if required.
• Analysis of the potential early redemption of outstanding Taxable Economic
Development Bonds, Series 2005 (the "2005 Bonds").
• Assist in responding to any requests as it relates to the 2005 Bonds.
Fees
Fees shall be billed for the hours expended on this project. Hourly rates are presented below:
Partner/Director $ 310 to $ 370
Senior Manager 200 to 250
Manager 155 to 200
Staff 100 to 125
Out-of-pocket expenses At Cost
Professional fees for the scope of services outlined above will not exceed $6,000 without written
permission of the CED Office.
Services requested which are outside the scope of services listed herein will be described and
quoted separately.
Project Assignment (Continued)
City of South Bend Community & Economic Development Office
January 4, 2011
Page 2
Incidental expenses are usually paid by Crowe and billed to the client at cost. These expenses
generally include, but are not limited to, communication, printing, binding and travel expenses
incurred on behalf of the client.
Invoices that are not paid within 30 days of receipt are subject to a monthly interest charge of
one percent (1.0%) per month or the highest interest rate allowed by law, whichever is less,
which we may elect to waive at our sole discretion, plus costs of collection including reasonable
attorneys' fees.
In the event the CED Office approves the engagement of Crowe for this assignment, please
sign, date and return the enclosed copy of this letter to us.
RespectfullyDsubmitted,
III
John R. Skomp
Agreed and Accepted:
CITY OF SOUTH BEND -COMMUNITY & ECONOMIC DEVELOPMENT OFFICE
By:
Date:
Crowe Horvath LLP is an independent member of Crowe Horvath International, a Swiss verein. Each member firm of Crowe
Horvath International is a separate and independent legal entity. Crowe Horvath LLP and its affiliates are not responsible or liable
for any acts or omissions of Crowe Horvath International or any other member of Crowe Horvath International and specifically
disclaim any and all responsibility or liability for acts or omissions of Crowe Horvath International or any other member of Crowe
Horvath International. Crowe Horvath International does not render any professional services and does not have an ownership or
partnership interest in Crowe Horvath LLP. Crowe Horvath International and its other member firms are not responsible or liable for
any acts or omissions of Crowe Horvath LLP and specifically disclaim any and all responsibility or liability for acts or omissions of
Crowe Horvath LLP.