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12-07-01 Redevelopment Commission Minutes
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12-07-01 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Regular Meeting— December 7, 2001 <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(Continued...) <br />(1) Continued... <br />Mr. Faccenda asked how that compared to <br />the Fair Rental Value approved at the <br />November 16th meeting for the property. <br />Mr. Mathia responded that it was about $200 <br />or $300 higher than the approved Fair Rental <br />Value. <br />Ms Kendal added that it was $0.10 per <br />square foot higher. <br />Mr. Caldwell said that he would like to add <br />to Mr. Kahn's motion that the Commission <br />lower the square footage rate by $0.10. <br />Mr. Hunt said that he thought that the <br />Commission should extend the lease as is. <br />Then after the bid process is complete, the <br />Commission could begin to reconsider the <br />terms. <br />Ms. Greene confirmed that until the <br />Commission had gone through the bid <br />process, there is difficulty in making an <br />adjustment in the Lease Agreement. If the <br />Commission decides to allow Ms Kendal to <br />remain in possession of the property, it <br />would be her recommendation to do so <br />under the terms and conditions of the lease <br />that was in place and expired as of <br />November 30th. <br />Mr. Hunt asked for a motion to permit the <br />tenant to remain in possession of the <br />premises on a month -to -month basis under <br />the previous lease terms and conditions, <br />17 <br />
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