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South BE <br />Regular <br />6. NEw <br />9 <br />C. <br />end <br />Redevelopment Commission <br />Meeting <br />- March 8, 1985 <br />BUSINESS <br />(Cont.) <br />inued... <br />Con <br />to <br />chard D. Sheffer in order to have all <br />prooerty <br />documents under the same ownership. <br />Bo <br />Communique Inc. and Richard D. Sheffer <br />have <br />agreed that they will be liable on both <br />of <br />the obligations which is required under the <br />Co <br />ssion agreements. <br />It <br />was noted for the record that Ms. Auburn <br />abstained <br />from voting due to a conflict of <br />int <br />rest. <br />Upo <br />a motion made by Mr. Piasecki, seconded <br />by <br />v1r. Donoho and unanimously carried, the <br />Comnission <br />approved the request for conveyance <br />of <br />roperty from Communique Inc. to Richard D. <br />She <br />fer and the sublease of property from <br />Co <br />unique Inc. to Richard D. Sheffer. <br />Comnission <br />approval requested to authorize and <br />direct <br />the President to issue a letter to Osco <br />Drug, <br />Inc., indicating the Commission's intent <br />to <br />ter into a lease with Osco Drug, Ince., <br />on <br />or before the expiration of their current <br />lease <br />for the premises at 124 -130 S. Michigan <br />Street <br />for a term of two years with three one <br />yea <br />renewals under terms to be agreed upon by <br />both <br />parties. <br />item was added to the agenda by the <br />This <br />ComrLission. <br />Mr. <br />Hunt explained that the Commission has <br />been <br />negotiating with Osco Drug, Inc., to <br />restructure <br />the current lease for their <br />do <br />town store. Osco has indicated that they <br />were <br />interested in improving their current <br />structure <br />and entering into an expansion. As <br />part <br />of the process they have to tie down <br />liquor <br />and pharmaceutical licenses. In order <br />to <br />do that they must show control of the <br />property. <br />The present lease ends in June, <br />198"). <br />The Commission must indicate in writing <br />to <br />Osco that we are moving ahead and that a <br />new <br />lease will be executed in time for the <br />licenses <br />to be applied for. The Commission <br />would <br />be entering into a two year lease with <br />three <br />one year renewals. <br />-4- <br />COMMISSION APPROVED THE <br />REQUEST FOR CONVEYANCE <br />OF PROPERTY FROM COMMUNIQUE <br />INC. TO RICHARD D. SHEFFER <br />AND THE SUBLEASE OF PROPREPY <br />FROM COMMUNIQUE INC. TO <br />RICHARD D. SHEFFER <br />