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An <br />A <br />A <br />6. NEW BUSINESS <br />C. South Bend Central Development Area <br />(7) continued... <br />Morris and The Palais is certainly attractive. <br />Management is in support of The Vine <br />Restaurant moving into the retail space. <br />Ms. Greene noted that the lease of public <br />property is governed by Indiana Code <br />Section 36- 7 -14 -22 and the Commission <br />may take the following factors into <br />consideration when awarding a bid. <br />b. The size and character of the <br />improvements proposed to be made on <br />the real property. <br />► The bidder's plans and ability to <br />improve the property with reasonable <br />promptness. <br />► Whether the property when improved <br />will be sold or rented (a leasehold is not <br />applicable). <br />► The bidder's proposed rental prices. <br />► Any other factors that will assure the <br />Commission in their own discretion that <br />the sale or lease, if made, will further the <br />execution of the redevelopment plan for <br />the area and best serve the interests of <br />the community from the standpoint of <br />both human and economic welfare. <br />Upon a motion by Mr. Faccenda, seconded <br />by Ms. Jones and unanimously carried, the <br />Commission approved execution of the <br />Letter of Intent to Lease (LOI) the Palais <br />Retail Space with Ms. Mary Spillane, The <br />Vine Restaurant. <br />Mr. Hunt requested that Mr. Mathia and <br />staff work closely with Ms. Humphreys to <br />help find suitable property for relocation of <br />the Somerset House antique business to the <br />downtown area. <br />21 <br />COMMISSION APPROVED EXECUTION OF THE <br />LETTER OF INTENT TO LEASE (LOI) THE PALAIS <br />RETAIL SPACE WITH MS. MARY SPILLANE, THE <br />VINE RESTAURANT. <br />