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South Bend Redevelopment Commission <br />Regular Meeting— January 16, 2004 <br />L�l <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(2) continued... <br />and set a Public Hearing for Friday, <br />February 6, 2004 at 10:00 a.m. to <br />appropriate monies in the South Bend <br />Central Development Area. <br />(3) Commission approval requested for <br />Assignment of Lease from Esprit D'Ecor <br />to Bilger & Sons, Inc., d /b /a Esprit Decor. <br />Mr. Mathia reported that the current owners <br />of Esprit D'Ecor, Ms. Noreen Howard and <br />Ms. Jill Houghton, have decided to sell their <br />business. A buyer, Ms. Carolyn Bilger, has <br />been found. The closing to complete the <br />sale has been set for January 26, 2004. A <br />precondition for the sale is approval by the <br />Redevelopment Commission to transfer the <br />lease for Esprit D'Ecor to the new owner. <br />The Assignment will transfer the lease to the <br />new owner, Bilger & Sons, Inc., d/b /a Esprit <br />Decor. The rental amount and term of the <br />lease will remain unchanged. <br />Staff has reviewed Ms. Bilger's resume and <br />financial statement and found them to be <br />acceptable. The Commission is requested to <br />approve the draft Assignment of Lease, <br />authorize the Commission's Legal Counsel <br />to finalize the Assignment in an acceptable <br />form and authorize the President and <br />Secretary of the Commission to sign the <br />final form of Assignment. It is intended that <br />execution of the Assignment by Ms. Bilger <br />and Ms. Howard and /or Ms. Houghton will <br />take place at the closing of the sale of the <br />business. Staff recommends approval. <br />N. <br />