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South BenddIRedevelopment Commission <br />Reschedul Regular Meeting - August 25, 1989 <br />C� <br />e. <br />f. <br />Mr <br />WR <br />am <br />on <br />(Cont.) <br />Iously sent a letter of default to <br />developers, giving them 30 days to <br />the default. They have not done so. <br />� a motion by Mr. Combs, seconded by <br />Piasecki and unanimously carried, the <br />fission rescinded the agreement with <br />pined Capital /KIRCO Office Associates <br />development of Parcel C4 -3 pursuant <br />he terms of the Contract for Sale of <br />Thom Howell asked what type of office <br />ding the developer had proposed. <br />Kolata responded that the original <br />osal was for a 70,000 square foot <br />ding. They later requested to <br />ade it to 131,000 square feet. They <br />nded to secure a major tenant for the <br />ding, but they have not been able to <br />he schedule that was agreed upon. <br />Mrs. Kolata explained that the Commission <br />has received a letter from Osco Drug <br />req,iesting an Extension of Lease from <br />September 10, 1989 to September 15, <br />1993. This is in compliance with the <br />Lease we have in place with them which <br />was a two year Lease with three optional <br />one year extensions. When they put a new <br />roof on the building, we gave them the <br />option of at least one additional year. <br />by <br />a motion by Mr. Piasecki, seconded <br />Combs and unanimously carried, the <br />ssion approved the Extension of <br />with Osco Drug, Inc. for property <br />ed at 128 S. Michigan Avenue. <br />�!' UIU1 0 G p4 y100 011 $50 <br />CAPIMWIKIRC O OFFICE ASSOCIATES <br />FOR DEVEMPN= OF PARCEL C4 -3 <br />PURSUANT TO THE CONDITIONS OF THE <br />CONTRACT FOR SALE OF LAND <br />00�1MISSION APPROVED THE EX'T'ENSION <br />OF TEASE: WITH OSOD DRUG, INC. FOR <br />PROPERTY IOCATED AT 128 S. <br />MICHIGAN AVENUE <br />