5.A.(1) Development Agreement (WNIT)

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~ C ~> ~ ~ ~ yo~lll NF :: t ~~ ~~ G ~ may/ >G Community & Economic Development 3Q~ `~`~'~-~~ 1200 County-City Building, 22/ Wesl Jefferson. South Bend, Indiana 4660 1-1 830 Phone 574/235-937' Fax 574/235 9021 To: From: Sub,jecY Date: Redevelopment Commission Jennifer Lament Michiana Public Broadcasting Development Agreement ~'o~~cmbcr 1 ~. ?00~ In flay of?008. the Commission approved a proposal Prom Michiana Public Broadcasting (WHIT) ad~~ancing a concept fir relocation of their studios from the an-rcnt facility in Elkhart to the W~SBT building at X00 W _fefficrson (across the street). The public henetit ofthe redevelopment project is significant as jobs that ~~~ould othcr~~~ise be lost upon WSB~f~s relocation arc replaced, and the specialized building is occupied and upgraded immediately. Frith an o~~erall prieate invesnnent of 5,.700.000, not including the value of the donated buildin~~. l~hc contract presented today outlines the terms b~ ~tihich the Commissions assistance of S 1.000,000 toward funding of construction for the new exterior and public lobby area of the building swill be used. The Commission ~~~ill acquire a tanporary easement f<~r a portion of the property containing the exterior fa4adcs along, Jefferson and Lafayette as ~~'ell as the corner where the three story atrium lobby will be located. We would work ~rithin a professional services contract ~~~ith the Troves- Group to create astand-alone project budget t~~r consU~uction ~,rork tax- the ^c~-~~ exta-ior and lobby and specitications tier public biddin~~. ~~~hich ~~-cold be overseen by the Board of Public U'orks as the Commissions aae~~t. The public bidding ~~huse will be initiated only upon evidence that fundin~~ is in place to complete the pri~atc portion of the project. Michiana Public Broadcasting agrees to maintain operations for a minimum often years, fulfilling a public arts vale in the downto~rn tlu-ough its pro~~ranunin~a and cultural resources. 1 can answer any questions you may hay°c. Your approval is recommended. To Commission rc Dcv Agr.doc What We Do Today MakesA Difference!