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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 />be willing to entertain. That's one reason <br />we're being somewhat vague. Depending <br />on who wants to move ahead with us on <br />this project, it will determine the exact <br />terms of the contract. Since we've <br />submitted that proposal, we've continued <br />to do our due diligence and learned a lot <br />more about possible options of what we <br />need to bring to the table, should it be a <br />traditional form of financing, which <br />would be as much as 25%. We're <br />prepared to do that. <br />c) Your proposal states that "both principals <br />intend to make this site their new <br />residential and business addresses." <br />Except for these investments, will either of <br />the principals or Eco-Urban Collaborative, <br />LLC invest any equity capital in the <br />development? If yes, by whom and in <br />what amounts will such investment be <br />made? <br />Written Answer: Yes. The amount will <br />depend upon what kind of ultimate deal <br />Eco-Urban is able to negotiate with both <br />the city and interested financial parties <br />including banks and other potential <br />investors. <br />d) With regard to availability of tax <br />exemptions/credits: <br />1) To what extent does your financing <br />rely on the successful application for these <br />exemptions and/or credits? <br />Written Answer: Eco-Urban <br />19 <br />