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South Bend Redevelopment Commission <br /> Regular Meeting—October 25, 2011 <br /> 6. NEW BUSINESS <br /> B. Public Hearing <br /> (1) continued... <br /> commissions, the city's expenses have <br /> exceeded $23,502. The expenses are : <br /> • Replacement of HVAC unit at <br /> Vesuvio's Pizza in the amount of <br /> $14,000 <br /> • Rerouting of gas line for Bruno's <br /> Pizza in the amount of$4,000 <br /> • Leasing commissions for Vesuvio's <br /> Pizza in the amount of$5,040 <br /> • Loss of revenue from the vacancies <br /> Ms. Jennings said she is very hopeful that <br /> 2012 achieve 100% occupancy rate. That <br /> would result in a 25% increase in revenue. <br /> Staff recommends approval of the 2011 <br /> revised budget. <br /> Ms. Jones opened the public hearing for PUBLIC'HEARING ON RESOLUTION No.2944 <br /> anyone who wished to speak for or against <br /> Resolution No. 2944. There was no one who <br /> wished to speak. Ms. Jones closed the public <br /> hearing for whatever action the Commission <br /> wished to take. <br /> (2) Commission action on Resolution <br /> No. 2944. <br /> Mr. Varner asked if the City had vacant retail <br /> space available. Ms. Jennings responded <br /> there are two vacancies. <br /> Ms. Jones asked if it was extraordinary that <br /> the city has expenses for a new tenant <br /> (Vesuvio's expense used as example). Are <br /> there likely to be similar cases? Mr. Inks <br /> 7 <br />