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South Ben0edevelopment Commission <br />Regular Meeting - May 15, 1981 <br />6. NEW BU_INESS (continued) <br />g. Commission I appNvalrequested <br />fullowin 'Lease Agreement in -1 <br />Busi.ness'District. <br />Parcel Pao. <br />enter into the <br />T707—R-66 Central <br />Lessee 11 Rent <br />Acquisition Parcel 8 -10 Griffon Bookstore $231.00 /mo. <br />124 South Michigan <br />Mr. McMahon explained that this is a temporary re- <br />location and the rent is identical to that which they <br />were paying to the City at their previous location. LEASE AGREEMENT WITH THE <br />GRIFFON BOOKSTORE, 124 <br />On motion made by Mr. Cira, seconded by Ms. Auburn SOUTH MICHIGAN STREET <br />and unanimously carried, the lease with Griffon Book- APPROVED <br />st re was approved. <br />h. Co mission Approval requested for Subordination Agree- <br />men t f&* H6mostead " Proeertdfloeated'at 913 Wilbur <br />St eet Phillip and Jenifer B611). <br />Mrs. Kolata stated that the City's subordinating its <br />interest in the property to the interest of the <br />mo tgager, St. Joseph Valley Bank. The Bank would <br />have first interest and the City of South Bend would <br />have the second. <br />SUBORDINATION AGREEMENT <br />Mr. Cira moved for approval of the Subordination FOR 913 WILBUR STREET <br />Ag eement. Mr. Auburn seconded the motion and it was (PHILLIP AND JENIFER <br />un nimously carried. BALL) APPROVED <br />i. Se date for public hearing relating to Monroe -Sam le <br />De5 laratory Resolution No: 636. <br />Mr. Donaldson moved to meet on June 12, 1981 for the <br />public hearing on the Monroe- Sample Declaratory Resolu- <br />tion No. 636. The motion was seconded by Ms. Auburn <br />and unanimously carried. PUBLIC HEARING FOR MONROE- <br />SAMPLE DECLARATORY RESOLU- <br />Mr. Nimtz declared the next regular meeting to be held TION NO. 636 SET FOR <br />on June 12, 1981 at 10:00 a.m. rather than June 5, 1981QUNE 12, 1981 <br />