RM 01-18-74 - Laserfiche WebLink

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6. to ei term - effe( Depar the may 1 ratio poini Mr. I Depai ing leas( NEW BUSINESS (Cont'd b. Agreement: Commission authorization was requested ter into an Agreement with A- 1.Parking Company to nate lease on Disposition Parcel Nos. 4 -65 and 4 -87, tive December 15, 1973, Project Indiana R -66. The tment of Redevelopment has requested A -1 to vacate ots, on December 15, 1973, so that the Department ease the lots to the South Bend Transportation Corpo- n as a part of a centralized bus depot and transfer in the downtown area. vin J. Butler, Commission Legal Counsel, advised the ment agrees to pay to A -1 Parking Company the follow ounts in consideration of the early termination of the for the two lots: $ 1,029.60 -- $257.40 per month from August 15 to December 15, 1973, as credit for the taking of possession by the De- partment of a 26 -foot strip of land from the east side of the lots for use .as a service drive. The compensation and consideration also. 900.00 -- in payment of the A -1 on the north The work was done year. $ 1,929.60 Total is on a per foot basis for the loss of income slag surface laid by section of the Lots. in July of this last The $ ,929.60 is the total we will be paying A -1 Parking Compa y and also at the same time agreeing to the termination of th lease. On mo ion by Mr. Wiggins, seconded by Mr. Chenney and unani- mously carried, the above payment and lease termination was autho ized. c. Commercial Lease: Commission authorization was re- quested for the execution of a Commercial Lease with the South Bend Public Transportation Corporation, on Disposition Parcel Nos. 4 -65 and 4 -87, subject to Legal Counsel approval, Project Indiana R -66. Mr. Butler advised that we will be leasing this property, effective from January 1, 1974 to the South Bend Public Transportation Corporation. The rental period is one year with it token rental of $1.00 per year and they are to reim- burse us for the site improvements we made on the property, withi thirty (30) days after the date of this lease, in the amoun of $14,294.00, that Lessor made in preparation for use by th Lessee. This includes the $900.00 shown above we are payin to A -1 Parking Company. The total sum is already ap- propriated. _ 10 A -1 PARKING COMPANY AGREEMENT AUTHORIZED, DISPOSITION PARCEL NOS. 4 -65 & 4 -87, R -66 COMMERCIAL LEASE APPROVED WITH SOUTH BEND PUBLIC TRANS- PORTATION CORP., DISPOSITION PARCEL NOS. 4 -65 & 4 -87, R -66