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South Bend Redevelopment Commission <br />Regular Meeting -October 6, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />(2) Commission approval requested for <br />Management Agreement by and between <br />the South Bend Redevelopment <br />Commission and Downtown South Bend, <br />Inc. (Surface Parking Lots; South Bend <br />Central Development Area) <br />Mr. Inks explained that the Commission <br />owns four parking lots in the downtown <br />which Downtown South Bend currently <br />manages for us. Three of those are under <br />lease with DTSB. The fourth is the lot next <br />to the LaSalle Hotel and Morris Performing <br />Arts Center. That lot is currently not under <br />contract. The Commission has been <br />operating these lots under two leases that go <br />back to the early 1990s. Legal counsel has <br />put together a new master Parking <br />Agreement to incorporate all of these to one <br />document. The Baer's Lot next to the Avon <br />Theater was originally purchased with <br />Community Development Block Grant funds, <br />so it will have some separate strings that will <br />be made an exhibit to that document. <br />Ms. Greene noted that the Parking <br />Agreement with DTSB for management of <br />these lots is the preferred method over <br />leasing them to DTSB. If a developer wants <br />to develop any of those properties the <br />Commission will have more immediate <br />control and will simply notify DTSB that it <br />will no longer be managing that lot. <br />The Agreement contemplates that DTSB <br />would operate and manage some of the <br />surface parking lots the Commission owns. <br />The parking rates for these lots will be <br />5 <br />