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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -November 2, 2007 <br />6. NEW BUSINESS <br />A. Public Hearing <br />(8) continued... <br />South Bend is that it has played with citizen <br />money and with acquisition of properties in <br />the past. He does not trust that that vision is <br />not simply wishful thinking. Our track <br />record for having retail go into that area is <br />not good. Our track record for acquiring <br />property is not good. If Mr. Medhurst's <br />statement is correct that 55% of this area's <br />land is city owned, we've been sitting on it <br />for a long time. We are playing games with <br />taxpayer money. <br />Mr. Downes agreed that we have to learn <br />from past mistakes. However, the <br />Redevelopment Commission should be more <br />interested in looking forward than looking <br />backward. <br />Mr. Downes made a motion to approve <br />Resolution No. 2385. Mr. King seconded the <br />motion. The vote was four to one with Mr. <br />Peczkowski opposed. The motion carried. <br />B. South Bend Central Development Area <br />(1) Commission approval requested for Lease <br />Renewal for 1255. Michigan St. in the <br />South Bend Central Development Area. <br />(LePeep Restaurant) <br />Ms. Jennings noted that LePeep Restaurant <br />has requested to exercise its option to renew <br />its present lease effective November 1, 2007 <br />for an additional sixty months at a lease rate <br />of $9.37 per square foot. The first year of the <br />five-year lease the tenant will pay one half of <br />COMMISSION APPROVED RESOLUTION NO. 2385 <br />AMENDING THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA DEVELOPMENT PLAN <br />61 <br />