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South Bend Redevelopment Commission Regular Meeting — October 25, 2012 6. NEW BUSINESS (CONT.) C. Airport Economic Development Area (4) continued... Mr. Davis asked how Mr. Smith would define "local labor " — regionally, county -wide? Mr. Smith responded that he expects at least 80% of the development jobs to be from South Bend, maybe as much as 100 %. He intends to use his development to train more local workers in construction. He recently hired a local contractor for demolition. Expanding the local labor pool through training is. a key component of his development plan. Mr. Davis noted that the Council has recently passed a diversity utilization ordinance for expanding the city's use of minority and women owned businesses. Mr. Smith responded that he is interested in cooperating with any efforts to expand the local labor pool. Mr. Davis will see that Mr. Smith gets the list of those certified businesses. Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the Commission approved the Development Agreement with Union Station Properties, LP for the Renaissance District project. (5) Indemnification Agreement with the City of South Bend Board of Public Works and Ivy Tower Corporation. Mr. Inks noted that the Indemnification Agreement with Ivy Tower Corporation describes the relationship, roles and responsibilities related to environmental matters that the city, Union Station Properties and Ivy Tower have as part of the transaction. It indemnifies the owners of the Ivy Tower Corporation only against claims related to actions the city takes. It is the Commission's intent to try to recoup its remediation costs, and we may pursue insurance claims related to that. If those claims should somehow result in a claim against Ivy Tower Corporation, we are indemnifying them against that type of claim. Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the Commission approved the Indemnification Agreement with the City of South Bend Board of Public Works and Ivy Tower Corporation. (6) Environmental Agreement with the City of South Bend Board of Public Works and Union Station Properties, LP regarding the Ivy Tower Building Mr. Inks noted that the Environmental Agreement describes all the roles and responsibilities related to the environmental matters which the city and Union Station properties have as a part of the transaction. This is a 35 -year agreement, and is consistent with city policy that in the future environmental indemnifications would not exceed a term of 35 years. The Commission's typical indemnification agreement is for property we purchase, remediate and sell. Since the Commission has not been in the chain of title for Ivy Tower, there are provisions in this Agreement that the Commission's indemnification is 10