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SOUTH 8F <br />Department of <br />Community Investmentt <br />1865 <br />Memorandum <br />July 10, 2014 <br />To: Redevelopment Commission <br />FROM: David Relos, Economic Resources <br />SUBJECT: Resolution No. 3220 & Addendum to the Master Agency Agreement <br />Nello Equipment Purchase <br />This Resolution and Agency Agreement is to have the Board of Public Works review bid <br />specifications and to advertise, bid, and award equipment purchases for Nello, Inc. <br />At its last meeting on June 26, the Commission approved an Economic Development <br />Memorandum of Understanding with Nello, who agreed within the next 10 years to <br />invest a minimum of $57,000,000 in new capital projects within the City, retain their <br />current 40 employees, and create an additional 524 jobs. <br />The Commission, for its part, agreed to purchase and lease equipment in an amount up <br />to $3,000,000 per year for three years. <br />Staff requests approval of Resolution No. 3220 and the Addendum to the Master <br />Agency Agreement, to have the Board of Public Works be its agent for acquisition of <br />this equipment. <br />«r W. JtrrtKJVN OLVU. bUUIH HtNO, IN 46601 I P: 574 - 235 -9371 1 FAX: 574- 235 -9021 1 SOUTHBENDIN.GOV <br />