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South Bend Redevelopment Commission <br /> Regular Meeting—April 12, 2011 <br /> Would that be carried forward if the <br /> Commission would approve the assignability <br /> clause? Mr. Meteiver responded that it <br /> would remain the same. <br /> Mr. Gibney added that he has heard that that <br /> requirement only lasted 15 years and both <br /> properties have now been converted to <br /> market rate apartments. He has not verified <br /> that. <br /> Upon a motion by Ms. King, seconded by COMMISSION APPROVED THE FIRST <br /> Mr. Downes and unanimously carried, the AMENDMENT TO PARKING LEASE WITH <br /> Commission approved the First Amendment CENTRAL HIGH ASSOCIATES,LLC WITHOUT THE <br /> ASSIGN ABILITY OPTIONS <br /> to parking Lease with Central High <br /> Associates, LLC without the assign ability <br /> options. <br /> (6) First Amendment to Parking Lease with <br /> Stephenson Mill Associates, LLC. <br /> Upon a motion by Ms. King, seconded by COMMISSION APPROVED THE FIRST <br /> Mr. Downes and unanimously carried, the AMENDMENT TO PARKING LEASE WITH <br /> Commission approved the First Amendment STEPHENSON MILL ASSOCIATES,LLC WITHOUT <br /> THE ASSIGN ABILITY OPTION. <br /> to Parking Lease with Stephenson Mill <br /> Associates, LLC without the assign ability <br /> option. <br /> (7) Authorization to declare contract default <br /> and right to cure. (Northwest corner <br /> Jefferson and St. Joseph Streets (Jeffcourt, <br /> Inc.) <br /> Mr. Relos noted that in 2008, the <br /> Redevelopment Commission entered into a <br /> Development Agreement and Contract for <br /> Sale of Land for the parking lot at the <br /> northwest corner of Jefferson and St. Joseph <br /> Streets. Those agreements were with <br /> Jeffcourt, Inc., for the redevelopment of that <br /> lot into an upscale hotel. As part of those <br /> agreements, Jeffcourt had certain obligations, <br /> 9 <br />