RFP Question And Answer

The lease between the State of Michigan and Fieldhouse LLC is clearly defined and is included with the RFP as Attachment E.  It is also available on the State of Michigan Land Bank Fast Track Authority's website at http://www.michigan.gov/landbank/0,3190,7-298-61310-276787--,00.html under Active Leases.  The lease termination provision and schedule is paragraph 3.04 of the lease.

2.  Will the taxpayer's of the State of Michigan pay the termination cost directly or indirectly? In other words, do you want me to reduce my offer to purchase the property by $3.4 million (or whatever) or will the taxpayers pay the termination fee from the proceeds of the 'sale'?

Bidders are expected to propose their best business decision possible, taking into consideration how to account for the lease and any termination.  Upon award, the winning developer will be responsible for determining if the lease between the State of Michigan and Fieldhouse LLC will be terminated pursuant to the terms of the lease, or if the lease will remain in effect.  The winning developer will become the landlord upon conveyance of the property.  The termination of the lease and any resulting costs will be the responsibility of the winning developer.

3.  Is the 'renewal term rent' currently being paid by Fieldhouse, L.L.C. $50,000 or 10% of gross per year OR per   5   years?

Fieldhouse, LLC is paying $50,000 per year

4.  What have they been paying?     

Fieldhouse, LLC pays $4,166.67 per month

5.  Similar questions were submitted that have the same answer:

• I would like to formally request an extension of the July 18th proposal due date by 10 - 14 days.  We are requesting this time in order to provide all of the information requested in the original RFP and the Addendum recently issued. 

• Would the committee be willing to extend the RFP date to allow more time to prepare a complete proposal because of the size of the site? It would be nice.

• I would like to request an extension to the July 18th proposal due date for the State of Michigan Land Bank Fast Track Authority (MLB) Michigan State Fair Grounds RFP from July 18th, 2012 to July 30th, 2012.
  
• We are requesting this time because, we are a late entry into the procurement that have out town partners who are very interested in the project and who just recently were able to visit the site so that we can respond to the complete site requirements.

• Given the receipt of the addendum and the revisions therein, we would like to request a fourteen (14) day extension of the due date to conclude the formal processes of our response.

The due date for proposals is July 18, 2012 at 2:00pm.  The State of Michigan Land Bank Fast Track Authority Board of Directors has not waived this requirement.