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South Bend RedevelopTent Conmlission <br />Regular Meoting - April 12, 1991 <br />RE <br />I1W <br />C. <br />Upon a motion by Mr. Piasecki, seconded <br />by Mr. Combs and unanimously carried, the <br />Ccmmission approved Resolution No. 986 <br />the boundaries of the <br />StLddbaker Corridor Development Area, <br />the allocation area for <br />pLuposes of tax increment financing and <br />amending the Studebaker Corridor <br />Development Area Development Plan. <br />Kolata explained that the lease is <br />for a small piece of property behind the <br />fo Inwoods building. We are <br />that it be leased to Center <br />City Associates for a three year term <br />bec inning March 1, 1991 through February <br />28 1994. The rent would be $1.00 per <br />ye r and CCA would assume all <br />nsibilities for operation and <br />ma tenance of the lot. They would have <br />the ability to sublease the lot, but the <br />tepis of the sublease must pick up the <br />teimis of this lease and must be approved <br />by us. There is a sixty day cancellation <br />provision for either party. <br />Mr <br />. Kolata noted that the lease <br />pulates that if CCA subleases the lot <br />receives proceeds, they must use <br />se proceeds for operation and <br />ntenance of the lot and for other <br />lic inprovements in the downtown. <br />Kolata noted that the piece of land <br />ig leased is approximately 26' wide by <br />width of the Inwoods building. It is <br />the entire parking area behind <br />t a motion by Mr. Combs, seconded by <br />Faccenda and unanimously carried, the <br />Fission approved the Commercial Lease <br />L Center City Associates. <br />-11- <br />• ••. �/� -• �� I :• 0".-al <br />• ill � � 1 ��I:• ��1- • -- �•- <br />� �►��1 � �4_I�i�_ -• - � �1 • • ICI <br />CONVlISSION APPROVED THE <br />COMMERCIAL LEASE WITH CENTER CITY <br />ASSOCIATES <br />