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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 />continue ... <br />consistent with what the Council passes for <br />downtown public parking. The fees collected <br />will be used for DTSB to support economic <br />development in the downtown area. Specific <br />uses for the funds are laid out in the <br />Agreement so there is clear public benefit <br />from the income off of those lots. <br />The Agreement also imposes more detail to <br />reporting requirements, setting up budgeting, <br />doing analysis of what expenses are <br />anticipated, and it will address covering the <br />lots with liability insurance. <br />The Agreement is not final at this time. The <br />staff is still working on it and will bring it <br />back in final form for the Commission's <br />approval. <br />Ms. Greene noted that a notice will need to <br />be sent to DTSB notifying them that the <br />current leases will be terminated. <br />Mr. King asked what Ms. Greene anticipated <br />as a term for the Operation and Management <br />Agreement. Ms. Greene said she is looking <br />for direction from the Commission on what <br />term it would like. Mr. King suggested a <br />longer term would help DTSB with their <br />planning. Ms. Greene suggested a term of <br />five years. <br />Mr. Downes and Mr. King acknowledged <br />that they are members of the Board of <br />Directors of Downtown South Bend, but that <br />position does not give them a pecuniary <br />6 <br />