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South Bend Redevelopment Commission <br />Regular Meeting -February 15, 2008 <br />6. NEW BUSINESS (CONT.) <br />C. South Bend Central Development Area <br />(2) continued... <br />Mr. Inks also noted that staff will be <br />approaching the Ampco contract the same <br />way. We are not dissatisfied with Ampco's <br />services, but want to make sure we get the <br />best price for those services. <br />Mr. Downes asked if the terms have changed <br />from our previous agreement with CB <br />Richard Ellis. Mr. Inks responded that the <br />Wayne Street Garage used to be separated <br />out and had different terms as to how the <br />cash flowed. It has been combined with <br />these properties and standardized in this <br />document so all of our properties are being <br />handled in the same way. He noted that CB <br />RE does keep a cash account for us so that <br />they can quickly respond to emergency <br />situations. <br />Mr. Peczkowski noted that in the <br />compensation section several of the items <br />give a minimum fee or percentage of gross <br />revenues collected. He asked which way that <br />is usually paid. Ms. Jennings responded that <br />CBRE usually pays the minimum fee. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Blake and unanimously carried, the <br />Commission approved the Commercial <br />Property Management and Leasing <br />Agreement (CB Richard Ellis). <br />D. Airport Economic Development Area <br />There was no business in the Airport Economic <br />Development Area. <br />COMMISSION APPROVED THE COMMERCIAL <br />PROPERTY MANAGEMENT AND LEASING <br />AGREEMENT (CB RICHARD ELLIS~ <br />12 <br />