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South Bend Redevelopment Commission <br />Regular Meeting -February 5, 2010 <br />Settlement Agreement and Release with <br />Chartis Insurers. <br />(4) SASCO Lease Extension Request <br />Mr. Relos noted that on September 18, 2009, <br />the Commission approved the Lease <br />Termination and Settlement Agreement with <br />Teacher's Credit Union for the old <br />Studebaker Engineering building at the <br />corner of Franklin and Sample, which houses <br />the Studebaker auto parts collection. <br />This Agreement called for a termination date <br />of February 14, 2010, to allow for the orderly <br />move of the auto parts collection. This move <br />is going very well, but because of the sheer <br />magnitude of the collection, the purchaser of <br />the auto parts has asked for a one month <br />extension to complete the move. <br />Mr. Relos noted that he and Mr. Inks went to <br />see the progress personally and report that <br />the progress on the move so far is truly <br />amazing. <br />Section 4 of the Agreement requires that an <br />extension be approved in writing by both the <br />Redevelopment Commission and TCU. TCU <br />is agreeable to this extension. <br />Because the granting of this extension will <br />not effect the demolition schedule for this <br />building or the old Foundry, staff requests <br />approval of this extension <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Varner and unanimously carried, the <br />Commission approved the SASCO Lease <br />Extension Request. <br />D. West Washington-Chapin Development Area <br />COMMISSION APPROVED THE SASCO LEASE <br />EXTENSION REQUEST <br />23 <br />