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South Bend Redevelopment Commission <br />Regular Meeting — August 19, 2005 <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(4) continued... <br />was originally executed in 1999 and will <br />expire at midnight August 31, 2005. The <br />First Amendment to Lease presented to the <br />Commission revises two provisions of the <br />original Lease: (1) the Lease Term is <br />extended by adding two additional years, <br />ending August 31, 2007; and (2) the Base <br />Rental Rate is increased to $10.50 per square <br />foot. All other provisions of the original <br />Lease are ratified and approved by the <br />Commission's approval of the First <br />Amendment to Lease. <br />Upon a motion by Mr. King, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission approved the First Amendment <br />to Lease for 121 S. Michigan Street in the <br />South Bend Central Development Area. <br />(Laura Lee's) <br />D. Sample -Ewing Development Area <br />(1) Commission approval requested for <br />Contract for Purchase and Sale of Real <br />Estate in the Sample -Ewing Development <br />Area. (TRANSPO /Stamping Plant) <br />Mr. Laurent noted that staff has recently had <br />discussions with the South Bend Public <br />Transportation Corporation (TRANSPO) <br />regarding the future location of a new <br />headquarters and maintenance facility for <br />transit operations in the Studebaker /Oliver <br />Redevelopment Project Area. The Contract <br />for Purchase and Sale of Real Estate and <br />15 <br />