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South Bend Redevelopment Commission <br />Regular Meeting - -May 21, 2004 <br />6. NEW BUSINESS <br />C. South Bend Central Development Area <br />(3) continued... <br />Mr. Mathia reported that on December 19, <br />2003, the Redevelopment Commission and <br />Formatt, Inc., doing business as The Vine, <br />entered into a lease agreement for the Palais <br />retail space. The agreement called for a <br />60 -40 split in renovation costs. The <br />agreement did not provide for decreases or <br />increases in renovation costs. The <br />addendum establishes a mechanism for <br />covering cost overages and decreases at the <br />same 60 -40 split. In addition, the addendum <br />provides a system for paying the renovation <br />contractor. This addendum will permit the <br />continued orderly progress of the renovation <br />currently on- going, and allow The Vine to <br />move into its new location on schedule. The <br />addendum was executed by Ms. Mary <br />Spillane, owner of The Vine, on May 19, <br />2004. <br />Upon a motion by Mr. Hunt, seconded by <br />Mr. Kahn and unanimously carried, the <br />Commission approved a request for <br />Addendum to the Real Estate Lease <br />Agreement between the South Bend <br />Redevelopment Commission and Formatt, <br />Inc. d/b /a "The Vine" dated December 19, <br />2003. <br />(4) Commission approval requested for <br />Access and Parking Easement Agreement <br />between the City of South Bend, Santa <br />Maria Realty, Inc. (Knights of Columbus) <br />and Underwriters Laboratories, Inc. <br />Mr. Inks requested that Item 6.C.(4) be <br />tabled. There were no objections and the <br />Commission tabled Item 6.C.(4). <br />ILI 9 <br />COMMISSION APPROVED A REQUEST FOR <br />ADDENDUM TO THE REAL ESTATE LEASE <br />AGREEMENT BETWEEN THE SOUTH BEND <br />REDEVELOPMENT COMMISSION AND FORMATT, <br />INC. D /B /A "THE VINE" DATED DECEMBER 19, <br />2003. <br />COMMISSION TABLED ITEM 6.C.(4). <br />