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HomeMy WebLinkAbout6.B.(8) Specifications Master Lease Retail Properties~~ /~ ~> ~ SPECIFICATIONS FOR THE MASTER LEASE OF REDE~'ELOPMEN~I~ RETAIL PROPERTIES Scaled Bids shall be submitted uo later than 9:00 a.m. December 5, 2008, in the Ofticc of the Department of Economic and Communit~~ Dc~~elopmeut, 1200 County- Cit~° building, 227 ~''. Jefferson Bh~d., South Beud, Indiana 46601, for the Master Lcasc of Rede~~elopment Retail Properties for the South Bend Redevelopment Commission. DESCRIPTION OF PROPERTY. The Rcdc~~clopmait Retail Properties are all located in South Bend. Indiana. and described as follows: • 1 17 East Wayne Street ~N'aync Street Garage Retail • 118-131 South Michigan Street -Leighton Playa Garage Retail • 1 30 South :Main Street -Leighton Plaza C ourtyard TERM OF 1~1ASTER LEASE. The term of the Master Lcasc shall be for a period of three (3) years commencing on February 1. 2009. and terminating on January 31. 20 L' (thc'~ hcrm~~). MASTER LEASE RENTAL RATE. I?ach bidder shall specify the amount of Master Lcasc Rental Rate per month. "I he Rede~~elopment Retail Properties comprise 12.535 square icet of rental area. As specified herein. the proposed Master Lease Rental Ratc shall be based upon the Bidder leasing the entire 12.845 square feet. SCOPE OF MASTER LEASE. Each bidder is specifically instructed to become completely familiar ~~~ith the Rede~clopmcnt Retail Properties prior to submitting a bid. The Bidda~ will become the Lcasc Holder oC the Rede~~clopment Retail Properties. The Bidder ackno~~~ledges that the Commission bus no responsibility or obligations to the Bidder ~~~ith respect to the Rede~~clopment Retail Propcrtics. including, but not limited to. their condition. The Bidder accepts the Redc~~dopmcnt Retail Propcrtics in the condition ~n~hich exists as of the date of the execution of the Master Lcasc subject to all applicable zoning, municipal, county and state ltm°s. ordinances and re~~ulations ~~o~~erning and regulating the use of the Rcdc~ elopment Retail Propu-tics. I . Dunn<~ the Term, the Bidder shall sub-Case the Rede~~clopment Retail Propcrtics as office and-or retail space or any other legal purposes, consistent ~~~ith the City of South Bend Rede~ elopment Retail Tenant Selection Policy as follows: REDEVELOPMENT RETAIL PROPERTIES -TENANT SELECTION POLICI' MISSION It is the mission of the Cite of Sou[h Bend Rede~~clopment Commission to utilize Rcde~~clopmcnt Retail space in a capacity to attract and generate a maximum diverse ~-plume of retail business in the Do~~°ntown South Bend area that will reflect a positi~~c perception of the City of South Bend. USL Business use shall not violate, or create any potential violation of applicably la~i~s. codes or ordinances, nor violate airy other a~~recments affecting the premises. landlord or other occupants in the building. The Retail space shall not be used except in a manner consistent with the general high standards of the neighborhood, and shall not be used in a disreputable or immoral manner. or create or permit anv sound level ~~~hich ~~ill interfere ~~~~ith the quiet enjoyment of anv real property by any tenant or occupant of the building, which includes ^o ~~Controlled Use~~ businesses. Operate the business without inten~uption at (cast during the bows of 10:00 am and 6:00 pm 'Vlunday through Saturday. TE'.VANT MUST: Submit a letter of intent for business use: business reputation shall meet or exceed generally acceptable commercial standards: Be able to commit to a ?-; year Lease: Submit a Business Plan: If business is established provide a Financial Report prepared by a Ca-tificd Public Accountant: Pro~~ide Income Statements; and Provide Federal and State "Tax Return fr~r the last two (?) years. All of the abo~~c ~~~ill be revie~~~ed to determine financial feasibility by the Bidda~ and sent to the City of South Bend Redevelopment Commission fir Icasc approval. 2. During the Term, the Bidder shall comply promptly ~a~ith all applicable statutes, ordinances, rules, regulations. orders and other Icga] requirements enacted. promulgated. issued or enforced by any governmental body. agency, department board commission or court and ~~-ith all private covenants and restrictions of record relating to the Rede~~clopment Retail Properties. 3. The Bidder shall nit commit or permit anv waste to, or cause or permit any nuisance (public or private) to occur or gist in or on the Redevelopment Retail Properties. or any part thereof. 4. "fhc Bidder shall not discriminate on the basis of race, creed. color, ancestry, national origin, religion, handicap, sex or political atfiliation in the leasing. use or occupancy of the Redevelopment Retail Propcrtics and shall comply ~,~~ith all applicable federal. state and local lags and regulations prohibiting such discrimination. 5. The Bidder agrees not to permit any °harardous substancc~~ to be placed. held. or disposed o1 upon, or released upon. under or at the Redevelopment Retail Propcrtics, or any port thereof. 6. The Bidder shall indemnify and hold Owner harmless from all loss, cost, claims. damages, tines, penalties. liability and-or expense. including but not limited to reasonable attorne~~'s Ices. incurred b~ any part. 7. "I~he Bidder may. at its cost and expense. subject to O~~ner's ~~~ritten approval. make additions, alterations or improvements to the Rcdcyclopment Retail Properties. All additions, impro~~ements and alterations shall immediately constitute and become a part of the Rcde~clopmcnt Retail Propcrtics. H. Dw~ing the Term, the Bidder, at its sole cost and expense, shall maintain, service and repair the Redevelopment Retail Propcrtics in the fashion and to the extent the Bidder deems advisable and in any e~~ent in accordance ~,vith all a~~plicable Governmental Requirements. 9. During the Term, the Bidder. at its sole cost and expense, shall pay or cause to be paid before delinquency all charges for water gas. heat, electricity, power and other like scrwices used with respect to the Redevclopmait Retail Propcrtics and all taxes. assessments and goycrnu~ental charges levied with respect to the Redcyclopment Retail Propcrtics and the personal property of the Bidder located therein ~~°hich become payable during the Term. IU. The Bidder shall maintain or cause to be maintained. at its sole cost and expaise. throu~~hout the Tcrm, insurance co~a~age ~~~ith respect to the Redc~~clopment Re41il Properties Frith insurers of reco~~nized responsibility in such fbnn and amounts and co~~cring such risks (includin~~. ~~~ithout limitation. property damage and public liability risks). as is reasonably commercially available and consistent with that maintained by responsible o~~°ners of similar properties. Owner shall be named as an additional named insured under all policies of insurance maintained or caused to be maintained by the Bidder. The Bidder shall dcli~cr copies of insurance policies on or before date of execution of the Master Lease. I L The Bidder may sublease the Rcdcrelopmeut Retail Propcrtics upon such terms and conditions as maw be acceptable to the Bidder. but any sublease shall be subject to all the terms and pro~~isions of the Master Lease and subject to the City of South Bcnd Redcrelopmcnt Retail Tenant Selection Policy as stated above. BID E~';~LUAT101~. The Rede~~clopment Commission shall e~~aluate and consider the fi~llo~rin~~ factors in its re~~ic~~~ of Bids: I . The degree to «~hich the bid meets the objccti~~es of the Devclopmunt Plan t~~r the South Bend Cents al Deg clopment Area and meets or exceeds the Scope of Master Lcasc stated aho~c. ?. fhe Bidders financial responsibility. yualifications_ experience and ability to sublease the Rale~clopment Retail Properties ~n~ith reasonable expertise. ~. 1~he Bidders proposed Master Lease Kemal Ratc. 4. The Bidders compliance ~~ith all applicable General Reyuircments stated below. 5. The immediate; and long-term potential impact on employment in the area anticipated to result ti•om the [3iddcrs proposal. G. Any other factors ~~~hich ~~r~ill assure the Commission that the Bidders proposal w-ill further the c~ecution of the South Bend Central De~~clopment Arca De~elopmait Plan and gill scr~c the interests of the community fiom the standpoint of both human and economic «~eltare. GENERAL R[:QUIREM1IEN"CS. I . All of the provisions of LC. i6-7-]4-'~ r~~ill apply to the bidding process. ~. Any bid submitted by a trust as defined by 1C ~0-d-1 must identify each beneficiary of the trust and the settlor cmpow~ered to rc~~oke or nuxlifv the trust. A copy of the document that establishes the Trustees authority to acquire the Property must be included ~~~ith the bid. 3. The successful bidder will be rcyuircd to enter into a contract with the South Bend Rcdc~clopmcnt Commission. d. The Redc~~elopment Commission has also ins sled bids for the Specitications ft~r Management of Rede~ elopment Retail Properties. A bid pursuant to the Specitications for the Master Lcasc of Redc~~clopment Retail Properties does not require a bid t~~r the Specitications for 'Management of Rcde~clopment Retail Properties. ]f the Bidder ~~ishcs to submit bids pursuant to both, the Bidder must submit each bid separately. 5. The Redevelopment Canmission e~pressl~~ reser~~es the right to reject an~~ and all Bids. In the event that no Bid is awarded, the Redevelopment Commission ma~~ proceed b~~ private negotiation in accordance with Indiana Code ~ 36-7-14-22.