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T11 <br />• � <br />• <br />Community & Economic Development <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 <br />To: City of South Bend Redevelopment Commission <br />From: Debrah Jennings — CED Staff <br />Subject: First Church of Christ Scientist 1St Amendment to Lease <br />Date: August 16, 2012 <br />First Church of Christ Scientist is Redevelopment Retail oldest tenant since 2007. First Church has <br />maintained an excellent rental record. <br />Their current lease is due to expire November 30, 2012. According to their lease, they are required <br />to give 180 days notice of their intent to exercise the option to extend their lease term. <br />The tenant would like to renew the lease with the following terms: <br />• Sixty (60) month lease extension period, ending November 30, 2017; <br />• Tenant rent set at $11.50 per sq. ft. totaling $12,144.00 per year; <br />• Common Area Maintenance (CAM) and property tax shall be billed at $6.25 per sq. ft, <br />totaling $6,600.00 per year, and then increasing $39 per sq. ft. annually. <br />First Church of Christ Scientist is a tenant Redevelopment Retail would like to keep. Therefore, staff <br />recommends approval. <br />Document2 What W Do Today Makes A DMnmm, <br />