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11-02-07 Redevelopment Commission Minutes
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11-02-07 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -November 2, 2007 <br />6. NEW BUSINESS <br />A. Public Hearing <br />(5) continued... <br />considering other restaurants in the <br />downtown? <br />MR. INKS: I don't think that gives LePeep <br />an unfair business advantage. I'm not sure of <br />all the rates that other restaurants are paying <br />in the downtown, but our understanding of <br />the market conditions were that our lease was <br />at the high end and this effectively put us <br />back into conformance with the market. <br />MR. MANIGAULT: Who owns the <br />Leighton Plaza, on which those shops and <br />restaurants are located? <br />MR. INKS: The Redevelopment Authority, <br />but it is leased to the Commission. <br />MR. MANIGAULT: So it's a public entity. <br />MR. INKS: Yes. <br />MR. MANIGAULT: And so tax dollars, <br />paid by the citizens of our city, are in effect <br />subsidizing LePeep. <br />MR. INKS: I'm not sure how to comment on <br />that. From our standpoint it was a business <br />decision to get back to a lease that was in <br />conformance with the market for restaurant <br />space in the downtown. <br />MR. MANIGAULT: Did any of the other <br />shops there get any consideration because <br />you have some retail shops in that same <br />plaza. Did any of those shops get <br />26 <br />
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