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South Bend ?development Commission <br />Regular Mee ing - June 8, 1990 <br />5. OLD BUSngESS (Cont.) <br />a. conzinuea... <br />maintenance of the State Theatre <br />storefronts' exterior and serving as <br />liaison to the Commission for the <br />sto -efront tenants; 4) reporting <br />malfunctioning lights in the downtown to <br />the maintenance crew; 5) business <br />r 'tment /retention in the downtown; <br />6) maintenance of an attractive window <br />disolav in the CCA office. <br />The contract provides for CCA to receive, <br />as tion, the rental income from <br />the parking on parcels C4 -3, C4 -30, and <br />the rental income from the State Theatre <br />storefronts. CCA may then use 50% of the <br />inc#e from these properties for <br />ting expenses. <br />Mrs Kolata noted that CCA will set aside <br />50% of all income received from the <br />subleasing of the State Theatre <br />projerties for a capital improvement fund <br />for the downtown. The Redevelopment <br />'ssion must approve all capital <br />exponses over $500. <br />The I term of the lease is from June 1, <br />199P to May 31, 1991. <br />Mr. Piasecki asked why it was necessary <br />for the Commission to have this contract <br />wit±L CCA. Mrs. Kolata explained that the <br />Redevelopment staff is not in a position <br />to concentrate the necessary effort on <br />prolexty management. It will relieve us <br />of that and give CCA additional operating <br />funcLs which it needs. Ms. Hickey pointed <br />out that is should also increase our <br />ability to respond to property management <br />and downtown maintenance issues and will <br />res4lt in a better looking downtown. <br />Upon a motion by Mr. Donoho, seconded by <br />Mr. Combs and unanimously carried, the <br />Coimission approved the Contract for <br />Pro Management Services with Center <br />Citv Associates. <br />-3- <br />• 0 10 1 NMI to) . • --• N• i WKWOlo <br />