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. r a n d LA rn TH <br />Community & Economic Development <br />INS <br />227 West Jefferson, Suite 1200, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 <br />To: South Bend Redevelopment Commission <br />From: Jitin Kain, Senior CED Specialist 41 <br />Subject: Staff Update on Data Realty <br />Date: August 13, 2012 <br />In July 2011, the Commission made a commitment to cover the cost of the entire Data Realty Facade <br />enhancement work as part of the land sale agreement. Data Realty is now in its final stages of completing <br />construction of an approximately $14 Million Data Center at Ignition Park. <br />At the Commission meeting on July 26, 2012, staff asked Commissioners to approve an additional $61,312.25 <br />from the AEDA TIF to cover the cost of the fagade metal Panels which had come in higher than expected after <br />two rounds of bidding by the Board of Public Works. <br />There are three spreadsheets below: <br />1. Data Realty Fagade Expenses: Expenses have been split into two components to ease construction. <br />Data Realty will purchase the supports and install foundations while the Commission purchases the <br />metal panels. Since the Commission is responsible for the total fagade cost, the Commission must <br />then cover the cost of supports and foundations in other TIF eligible ways. <br />2. Commission Participation Till Date: Must equal total fagade cost <br />3. Qualifying Expenses to Address Gap <br />I. Data Realty Fargade Expenses <br />Amount <br />Notes <br />Metal Panel & Screenwall supports, foundation <br />$914,755.00 <br />These are attached to the existing <br />and other materials <br />$566,560.00 <br />building <br />Gap <br />$219,558.00 <br />These attach to supports on the <br />Metal Panels & Screenwall <br />$914,755.00 <br />building fagade and foundations <br />Commission Commitment per MOU <br />Total Fa ade Cost <br />$1,481,315.00 1 <br />is for the entire cost of the Fa ade. <br />2. Commission Participation Till Date <br />Amount <br />Notes <br />Purchase Metal Panels & Screenwall <br />$914,755.00 <br />Actual Award Amount <br />Purchase CRAH unit <br />$347,002.00 <br />Actual Award Amount <br />Gap <br />$219,558.00 <br />To be determined <br />Total Commission Commitment <br />$1,481,315.00 <br />3. Qualifying Purchases to Address Gap <br />Amount <br />Equipment Chan e Orders <br />$77,938.00 <br />Other TIF eligible items: Landscaping & Asphalt <br />$111,000.00 <br />Estimates <br />Gap <br />$30,620.00 <br />To be determined <br />Total Commission Participation <br />$219,558.00 <br />Staff will be back at a future meeting to present agreements for some of the above mentioned items. <br />