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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -March 10, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />() continued... <br />the "profit" that would be shared with the <br />city that is, how "profit" would be <br />computed, (ii) the percentage of such <br />"profit" to which the city would be <br />entitled, (iii) whether the city would also <br />be required to accept liability for the same <br />percentage of any losses that may be <br />incurred by your development. <br />If no, please explain what the statement <br />quoted means. <br />Written Answer: In the RFP released by <br />the Commission, there is a statement <br />which indicates the city may be willing to <br />enter into a partnership with the <br />developers, though it does not specify <br />what the details of such a partnership <br />should or would entail. Eco-Urban <br />Collaborative is willing to establish a <br />legal relationship with the city whereby <br />the city would be entitled to receive some <br />of the profit that may be produced by the <br />development. We think that might be a <br />good model to establish. However, Eco- <br />Urbancan only provide the details of what <br />any such arrange might consist of after it <br />has been informed what kind of <br />participation the city wishes to offer. <br />Eco-Urban assumes that these details <br />would be the result of good faith <br />negotiations intended to offer the greatest <br />benefit possible to both the city and Eco- <br />Urban Collaborative. It does not <br />anticipate the city would be responsible <br />for any losses that maybe incurred by the <br />development. <br />13 <br />