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ESM 10-17-79
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ESM 10-17-79
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South Bend 4ecial edevelopment Commission <br />Emergency Meeting - October 17, 1979 <br />2. NEW BUSIN <br />Mr. Butler continues... <br />mainta n and operate those particular improvements <br />for the benefit of the public. They will have <br />the no mal obligations o`f°a tenant under a lease once <br />the facility has been constructed to pay rent to <br />mainta n the premises, to make sure the taxes are paid <br />and to see that insurance requirements are met. <br />Mr. Ro inson: Is this the last crisis meeting we are <br />going o have before they start putting up the bricks <br />and mo tar? <br />Mr. Butler: Construction work on the hotel itself <br />will not begin until next summer. The garage has to <br />proceed to a point where their construction can begin. <br />This should be the last meeting as they are supposed <br />to sign the lease agreement tomorrow. <br />Mr. Ni tz: The Chair recognizes the Honorable <br />Thomas J. Brunner, City Attorney for the City of <br />South Bend. You have been involved in these <br />negotiations too; we are very appreciative of the <br />help you have put into this project. There has been <br />a lot f effort that the public doesn't realize. <br />Mr. Brunner: No specific comments. Generally, you are <br />correct, a gread deal of effort by many people has been <br />devoted to this project, and we are pleased that it is <br />nearly a reality. <br />Mr. Ni tz: Any questions by the press or the public? <br />Mr. Larry Ford: Mr. Nimtz, who is the tenant that <br />the partners don't want liable for the obligations to <br />RAHN Properties II? <br />Mr. Bu ler: RAHN Properties is the tenant. <br />Mr. John McKnight: Without this provision, how would <br />the liability work? Would the partners and the tenants <br />be liable for one another's obligations? <br />Mr. Butler: No, the individual partners will not be <br />liable It would be similar to a corporate structure <br />and th re has been talk in the past about ultimately <br />assign ng the interest of the partnership to a <br />torpor tion that will be established. <br />-5- <br />
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