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South Bend Redevelopment Commission <br /> Regular Meeting—May 10, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> A. South Bend Central Development Area <br /> (4) continued... <br /> lease there is a decrease from what they are <br /> currently paying (a$500 decrease per month <br /> for the first year). At the end of the term of <br /> this lease the monthly rent would increase by <br /> $1,000. Staff recommends approval. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED THE FOURTH <br /> Ms. King and unanimously carried, the AMENDMENT OF LEASE BETWEEN THE SOUTH <br /> Commission approved the Fourth BEND REDEVELOPMENT COMMISSION AND <br /> amendment of Lease between the South LEPEEP,INC.DATED MAY 10,2011 <br /> Bend Redevelopment Commission and <br /> LePeep, Inc. dated May 10, 2011 <br /> (5) Assignment of Lease by Lessee (127 S. <br /> Michigan Street, LePeep of South Bend, <br /> LLC to 1st Source Bank) <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED THE ASSIGNMENT OF <br /> Ms. King and unanimously carried the LEASE BY LESSEE(127 S.MICHIGAN STREET, <br /> Commission approved the Assignment of LEPEEP OF SOUTH BEND,LLC TO 1sT SOURCE <br /> Lease by Lessee (127 S. Michigan Street BANK <br /> LePeep of South Bend, LLC to 1st Source <br /> Bank) <br /> (6) Disclaimer and Waiver of Real Estate <br /> Interest (127 S. Michigan Street, LePeep) <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED THE DISCLAIMER AND <br /> Ms. King and unanimously carried, the WAIVER OF REAL ESTATE INTEREST(127 S. <br /> Commission approved the Disclaimer and MICHIGAN STREET,LEPEEP) <br /> Waiver of Real Estate Interest(127 S. <br /> Michigan Street, LePeep) <br /> (7) Lease proposal for Imagine That (Holiday <br /> Pop-Up Program Participant) <br /> 13 <br />