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South Bend Redevelopment Commission <br /> Regular Meeting—July 26, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Receipt of Bids <br /> (3) Receipt of Bids for 310 E. South Street in <br /> the South Bend Central Development <br /> Area. <br /> No bids were received. No BIDS WERE RECEIVED <br /> (4) Receipt of Bids for 628 Rush Street in the <br /> South Bend Central Development Area. <br /> No bids were received. No BIDS WERE RECEIVED <br /> (5) Receipt of Bids for 620 Columbia Street in <br /> the South Bend Central Development <br /> Area. <br /> No bids were received. No BIDS WERE RECEIVED. <br /> C. South Bend Central Development Area <br /> (1) Policy for Early Termination of a Lease. <br /> Mr. Inks noted that there was a lot of <br /> discussion of this policy at the July 12 <br /> meeting. Staff has incorporated the <br /> Commission's suggestions and added a <br /> rationale section at the beginning of <br /> document. It is on the agenda for approval. <br /> Ms. Jennings noted that the Policy for Early <br /> Termination of a Lease is for redevelopment <br /> retailers who have concluded they are no <br /> longer able to operate their business <br /> downtown. Those businesses that have <br /> elected to close before fulfilling the lease- <br /> term obligation. Rather than holding them <br /> responsible for the duration of the lease, staff <br /> has drafted a policy to release them from the <br /> lease provided they meet the qualifications <br /> 7 <br />