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South Bend <br />Regular Me <br />5. <br />b. <br />elcpment Commission <br />- June 8, 1990 <br />(Cont.) <br />Mrs Kolata noted that this is related to <br />the previous contract. There are five <br />leases with Center City Associates: <br />parcels C4 -3 and C4 -30, used as parking <br />lots; and, the four storefronts in the <br />State Theatre. The amount of the lease <br />for each property is $1.00. The term of <br />the leases is July 1, 1990 through June <br />30, 1991. CCA will sublease the property <br />and use the rental income as provided for <br />in a management contract just approved <br />by a Commission. <br />Upon a motion by Mr. Combs, seconded by <br />Mr. Donoho and unanimously carried, the <br />Coimdssion approved the Commercial Leases <br />with Center City Associates for property <br />manaciement. <br />Mrs. Kolata requested permission to add an item <br />to the agenda. There was no objection and item <br />6.g. will be added to the agenda. <br />W <br />F2F <br />COMMISSION APPROVED COMMERCIAL <br />LEASES WITH CENTER CITY <br />ASSOCIATES FOR PROPERIY <br />MANAGEMENT (PARCEL C4 -3, C4 -30, <br />AND STATE THEA'T'RE STOREFRONTS) <br />Lern Oak Homes Northern Oak Homes $16,860.00* <br />California Ave. <br />$1,237 contingency fee <br />Mrs. Kolata noted that the home at 1008 <br />California is a one unit, two bedroom <br />home. Mrs. Kolata explained that under <br />the Rental Rehab Program ten percent of <br />the loan is forgiven each year if the <br />ownEtr makes the at least 50% of the units <br />-4- <br />$7,500.00 (Public) <br />$9,360.00 (Private) <br />