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HomeMy WebLinkAboutFine Art Gallery/Project Description - Attachment B Lurie, L.L.C. 11871 DuBarry Drive Cannel, In. 46033 317/816-0785 Attachment B Project Description 1. The proposed redevelopment of parcel 21 will be planned to include a three story approximately 15,000 sq foot building with a facade consistent with the theme of the "Old Town" decor, area buildings of similar quality on Main St, and including an avant-garde theme consistent with fine art galleries. The building is planned to include a fourth floor[roof top reception area] for special "Old Town" events. The grounds will be designed to include a sculpture garden and restricted angle parking in the rear of the building for clients of the lessees. Renderings are attached for review. The estimated cost of the building is subject to final design and approval by the CRC per the specification but is projected to cost from $1,650,000 to $1,850,000, plus the cost of the land. All applicable CRC and applicable Zoning Ordinance will be incorporated into the project. 2. Attached for the review of the CRC is a Letter of Intent from National City Bank stating their interest in financing the construction and providing a long term mortgage. A personal net worth statement for Evan Lurie the sole equity investor is attached for review. 3. The contact person and sole equity investor is Evan Lurie. The National City bank contact person for the construction loan and long term mortgage is Janice Wagner VP and Branch Manager(317/580-4105)or Kristin Hodge, VP of Small Business Financial Services(317/580-4103). 4. Evan Lurie is the sole member of Lurie, L.L.C, and the legal bidder for parcel 21. Evan Lurie has previous experience in creating successful fine art galleries in Miami, Boca Raton and two galleries in Los Angeles. Mr. Lurie represents artists from Europe, United States, Canada, Mexico, and Cuba most of whom are exclusive with Evan Lurie and his current galleries. 5. The currently preferred contactor for the construction of the building is Stenz Construction Corporation. Stenz Construction has been actively participating in the design and construction of projects of similar size and scope for many years in Hamilton County, and the state of Indiana. Mr. Stenz is well known and respected for his continued quality performance and construction of similarly designed buildings; on time and on budget. Financial statements and a list of similar projects for Stenz Construction are available for review by the CRC as needed. The contacts for overseeing of the redevelopment of parcel 21 will be Evan Lurie, member of Lurie, L.L.C. (317/816-0785) and Leo Stenz, President/CEO of Stenz Construction Corporation(317/262-4999). It is anticipated that the building construction will take 9-12 months from the approval date of the building design by the CRC. 6. The principal architect for the redevelopment of parcel 21 is expected to be CSO architects. CSO was the prime architectural firm involved in the original design of the Lurie Fine Art building that received approval from the City for construction on the northeast corner of 1s`Avenue and Main Street. This building design was ultimately scrapped due to design constraints relative to the adjacent power lines. The bidder's team also evaluated renovation of the existing and adjacent antique dealer building. Ultimately the bidder suggested to the CRC a new, larger and purpose specific building be designed for parcel 21. This team of Lurie, L.L.C, Stenz Construction Corporation and CSO have been developing and refining concepts for a fine arts gallery and expanded use building to support the redevelopment of Old Town into a premier arts district for over three years. The CRC is very familiar with all of the principals who would be responsible for the implementation of the redevelopment of parcel 21. Specific contact information is available upon request. 7. In the spirit of achieving a successful outcome of the project for the CRC and the Bidder, it is a requirement that Lurie L.L.C.; (the Bidder) and the CRC negotiate the final terms of the purchase agreement in order to achieve an economic design for the Bidder and an architecturally acceptable project to the satisfaction of the CRC. In the event this is not achieved within 30 days from the acceptance of the bid by the CRC; the Bidder will be fully refunded it's earnest money. 8. There are no changes required to the Project Agreement other than the responsibilities as described in item 7 above. 9. Evan Lurie would be the Director of the Lurie Fine Art Gallery. His resume is attached for the review of the CRC.