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South Bend edevelopment Commission <br />Rescheduled Regular Meeting - June 27, 1990 <br />6. NEW BUSMESS (Cont.) <br />1. cofitinued... <br />M. <br />monitor the asbestos removal. The <br />rdous waste removal and building <br />,lition will be monitored by the City <br />neering Department. The writing of <br />ifications is to be completed within <br />y -five days. <br />Up)n a motion by Mr. Piasecki, seconded CODMUSSION APPROVED CONTRACT WITH <br />by Mr. Doncho and unanimously carried, COLS ASSOCIATES FOR PROFESSIONAL <br />the Commission approved the contract SERVICES IN THE STUDEBAKER <br />wi Cole Associates for professional CORRIDOR DEVELOPMENT AREA <br />services in the Studebaker Corridor <br />De elopment Area. <br />Mrs. Kolata explained that the lease <br />tai Catering by Billie for one of the <br />re it spaces in the St. Joseph/Wayne <br />king Garage is nearly complete. We <br />have a letter of intent from Billie <br />Duilap, president of Catering by Billie, <br />stiting that she is in agreement with <br />the current terms and rental rates we <br />bare been negotiating. Those terms are <br />a ee year lease with two one year <br />options. The first six months would be <br />rait free. Year one would be at a rate <br />of $7.00 per square foot. Year two <br />woiild be at a rate of $7.50 per square <br />foot. The third year would be at a rate <br />of $8.00 per square foot. If they <br />d ide to exercise the one year options <br />we would negotiate a market rent at that <br />Kolata noted that a construction <br />has been awarded for ccmpletion of <br />rental space. <br />Xa;. Kolata noted that Billie has made <br />it known all along that she would like <br />to receive tax abatement. As owners of <br />tlxb property, the Commission must apply <br />for the abatement. <br />-28- <br />