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4yoUT�8�J4 <br /> ^ � �% 2 Department of <br /> Community Investment <br /> 1865 <br /> Memorandum <br /> December 22, 2014 <br /> TO: Redevelopment Commission <br /> n/ <br /> FROM: David Relos, Economic Resources <br /> SUBJECT: ti <br /> Assum on of License Agreement from BPW <br /> Assumption g <br /> Cove Parcel 18-3014-051501 <br /> On September 11, 2014, an MOU between the Board of Park Commissioners (Parks); <br /> x Board of Public Works (BPW); Swing Batter Swing (SBS), owner of the South Bend Cubs <br /> minor league baseball team, and the Redevelopment Commission (RDC) was approved. <br /> This MOU outlines each party's responsibilities to carry out the construction and <br /> ownership of a privately funded, approximately 17,700 square feet batting cage facility, <br /> containing six indoor tunnels, two regulation pitching mounds, an observation deck, and <br /> having an estimated construction cost of$1,000,000. This facility will enhance the Cove, <br /> team, and larger region by being a unique destination point that will draw more people to <br /> the downtown area. <br /> On December 11, the Commission approved Resolution No. 3258, accepting the transfer <br /> of this parcel from BPW. <br /> On September 4, 2014, BPW and SBS entered in to a License Agreement ("Agreement"), <br /> allowing SBS to begin construction on the site. <br /> This Assumption of License Agreement transfers the Agreement from BPW to RDC, since <br /> upon recording of the deed from BPW to RDC, ownership of the parcel will be in the name <br />`s of RDC. <br /> Staff requests approval the Assumption of License Agreement. <br /> a <br /> 227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 P: 574-235-9371 FAX: 574-235-9021 SOUTHBENDIN.GOV <br />