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05-08-07 Redevelopment Commission Minutes
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05-08-07 Redevelopment Commission Minutes
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11/2/2012 11:51:44 AM
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5/8/2007
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05-08-07 Redevelopment Commission Agenda
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\Public\Redevelopment Commission\Agendas & Packets\2007
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SOLIth Beiid l e developinent 'on- mission <br />Rescheduled Regular Meetin - -. -- -May ,x.007 <br />6. NEW RUSINESS (CO NT.) <br />C. South Bend Central Development Area <br />(1) continued... <br />the isUes. <br />Upon a motion by Mr. King, seeonded b y "FABI-ED <br />Mr. Downes and unanimously carried, the <br />C"ommisslon. tabled Item 6.C.(I) <br />2 Commission approval requested for 1,ease <br />by and between the South Bend <br />U <br />Redevelopment Commission and <br />hanwantari, In e. <br />.fir. h*s noted that this is the Yoga business <br />1110ving into a previously vacant space: M the <br />Michigan Street Slops. At its April <br />iiicetlng the Commission. approved a Letter <br />of Intent subject to the na i� or the <br />protect being put into place. This lease <br />follows the terms of that Letter of Intent. <br />The financing has been approved by the <br />bank. <br />Mr Pec ko vsl i noted that the lease doesn't <br />seen to specify how much the taxes are, <br />what the CAM fees are, etc. as part of the <br />additional gent charges. Ms. Aggeler <br />responded that the estimated CAM is <br />$3.91 ft , including the estimated taxes. <br />Mr. Peczkowski also pointed OUt an. apparent <br />mistake on page 5, point 5.4 (a). "As of the <br />Effective Date, Tenant's Pro Rata Share with <br />respect to expenses allocable to the entire <br />Buildin,cy is that ratio or is ten and one half <br />percent (9.6%)." He asked whether ten and a <br />half percent is correct, or nine and six tenths <br />percent is correct. All agreed it should be <br />10 <br />
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