6C (1)(2) - Laserfiche WebLink

Home Browse Search

� C(►).4(L -) • r . n d u m spurs e Community & Economic Development 1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 To: South Bend Redevelopment Commission From: Jitin Kain, Senior CED Specialist -W— Subject: Data Realty Fagade Easement & Amendment to Use /Management Agreement Date: April 19, 2012 In July 2011, the Commission approved the sale of Lot 4 at Ignition Park to Data Realty Northern Indiana LLC which is currently building an approximately 50,000 sq.ft data center. Data Centers are typically built as bunkers, however, Ignition Park is designed as a high tech, high aesthetic park. There was a desire to see the first building designed and built to architectural standards established for the park. As part of the contract for sale, the Commission agreed to provide site improvements (paving, landscaping, lighting, etc) to the Data Realty site equal to the amount of the fagade enhancement work performed by Data Realty up to an amount of $1,400,000. The Fagade design was done by BSA LifeStructures, the firm responsible for the Master Plan of Ignition Park. The initial estimates for the first design came in over budget so BSA was asked to revise the Fagade design. Earlier this year, a design was submitted that was estimated to cost $1,134,980. This design was later approved by the Architectural Review Committee for Ignition Park. A recent estimate of site improvement work at Data Realty was $400,000 which is significantly less than the $1,134,980 estimated for the Fagade work. Therefore, in lieu of the site improvements, staff is proposing the following combination to fulfill the Commission's commitment towards the Data Realty project: 1. Fagade Improvement: Purchase metal panels and screenwall coverings for the approved fagade design in the amount of $747,576. In order to do this, Data Realty would grant the Commission a fagade easement for a term of 7 years. 2. Equipment Purchase: Purchase Computer Room Air Handler (CRAH) units for the data center portion of the building in the amount of $387,404. In return the Commission would get an additional 5 years worth of equipment rack space at Data Realty. Currently, the Commission has the use of 5 racks for 15 years, the value of which is estimated at $1,080,000. The total of the above two items is $1,134,980 which is equal to the total estimate of the facade work and is under the budgeted amount of $1,400,000 for this project. Staff requests Commission approval of the attached Fagade Easement and Amendment to the Use, Management and Operations agreement. What We Do Today Makes A Difference!