Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting — July 1, 2005 <br />the final terms of the Lease, the tenant <br />requested a material change to the <br />Commission's standard form of Lease, thus <br />requiring that the matter be brought to the <br />Commission's attention for approval. <br />Section 4.3 which references the "common <br />areas expense" includes a pro rata share <br />related to taxes. The tenant requested a cap <br />on real estate taxes. Subsequently, a cap of <br />$1.75 per square foot over the term of the <br />Lease was negotiated Staff requests approval <br />of the Lease with the real estate tax cap as <br />negotiated. <br />Upon a motion by Mr. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved a Commercial Lease <br />between the City of South Bend, Indiana and <br />Sit & Knit, A Yarn Cafe, Inc. with acap on <br />real estate taxes. (129 S. Michigan Street). <br />1C Mr. Olesker of Sit & Knit, thanked the <br />Commission and staff for acting so quickly <br />on the transaction. <br />D. Sample -Ewing Development Area <br />(1) Commission approval requested for <br />Certificate of Completion for project <br />located at Lot #4 in the Oliver Industrial <br />Park in the Sample -Ewing Development <br />Area. (Hill Truck Sales, Inc.) <br />Mr. Laurent reported that the Certificate of <br />Completion is the Commission's statement of <br />satisfaction with the constructed <br />improvements of the developer. The project <br />is located within the Oliver Industrial Park <br />and retains an existing neighboring business <br />in need of expansion. Lot #4 was sold to Hill <br />Truck Sales, Inc. on October 25, 2004. Hill <br />Truck Sales has been located in the corridor <br />c, 6 <br />COMMISSION APPROVED A COMMERCIAL LEASE <br />BETWEEN THE CITY OF SOUTH BEND, INDIANA <br />AND SIT & KNIT, A YARN CAFE, INC. WITH ACAP <br />ON REAL ESTATE TAXES. (129 S. MICHIGAN <br />STREET. <br />