Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting -February 17, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />(1) Commission approval requested for <br />proposal for construction services in the <br />South Bend Central Development Area. <br />(Divide Esprit Decor space) <br />Mr. Williams noted that a potential tenant for <br />a portion of the former Esprit Decor space in <br />the Michigan Street Shops has asked that the <br />space be divided. Bombay Boutique would <br />like to lease approximately 866 sft. The <br />remaining available space would be <br />approximately 1,530 sft. Each space would <br />be leased at $11.50/sft. One proposal has <br />been received for the construction work. <br />Two others are expected. Staff requests <br />authorization to proceed with anot-to-exceed <br />cap of $35,000. <br />Mr. King asked what the entire space was <br />advertised for. Mr. Williams responded that <br />it was offered at $10.50/sft. <br />Mr. Hojnacki asked whether one large space <br />or two small spaces are more marketable. <br />Mr. Williams responded that the entire space <br />has been vacant since September and <br />Bombay Boutique is the only interest that has <br />been expressed. <br />Ms. Aggeler, CB Richard Ellis, the <br />Commission's realtor, indicated that they <br />receive more calls for smaller spaces <br />downtown, on the order of the remaining <br />1,530 sft. <br />6 <br />