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RM 09-25-87
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RM 09-25-87
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South Bend <br />Regular Mee <br />6. NEW BUS <br />e. Con <br />VA <br />elopment Commission <br />- September 25, 1988 <br />(Cont.) <br />Mr. Piasecki asked for a clarification of <br />the depreciation schedule. <br />Mr. Hunt explained that Osco felt they <br />deserved some benefit for improving a <br />bui ding belonging to the Commission when <br />it was possible that they could lose <br />their lease. The Commission desired to <br />be released from the open -ended liability <br />of relocation costs if they should need <br />to terminate the lease. A compromise was <br />proposed and accepted whereby the <br />imp ovements Osco put into the building <br />wou d be depreciated according to a five <br />year schedule after which the Commission <br />wou d owe them nothing and would bear no <br />responsibility for relocation costs or <br />re-unbursement for improvements on the <br />building. Now that the roof needs repair <br />and they are responsible for that under <br />the lease, they would like to have the <br />re it expense figured into the existing <br />depreciation schedule. The depreciation <br />schedule would remain at five years. He <br />indicated that staff feels this is a <br />reasonable approach to maintaining the <br />presence of Osco downtown. <br />Upon a motion by Ms. Auburn, seconded by <br />Mr. Piasecki and unanimously carried, the <br />Comnission approved the First Amendment <br />to Lease with Osco Drug, Inc. <br />M. ., . <br />Mr. Hunt noted that the Design Review <br />Committee met with Mr. Brademas regarding <br />the East Race Inn, the all - suites hotel <br />project for the East Bank. Approval was <br />granted contingent upon satisfying <br />landscape, lighting and color <br />combinations for the building and <br />screeni g for parking. The Design Review <br />Committee was impressed with the project <br />as a whole. <br />-15- <br />COMMISSION APPROVED THE FIRST <br />AMENDMENT TO LEASE WITH OSCO DRUG, INC. <br />PROGRESS REPORTS <br />
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