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South Bend edevelopment Commission <br />Rescheduled Regular Meeting - May 1, 1992 <br />3. <br />4 <br />5. <br />(Cont.) <br />Upon a otion made by Ms. Huddleston, <br />seconde by Mr. Piasecki and unanimously <br />carried the Commission formally approved the <br />claims �ubmitted May 1, 1992. <br />There wire no communications. <br />-M <br />Mrs. Kolata noted that this Lease is for <br />both retail spaces in the St. Joseph/ <br />Wayie parking garage. Catering by Billie <br />has been in retail space number one for a <br />year and a half and would like to expand <br />intD space number two. They will be <br />usi g the additional space primarily for <br />sea ing. We are pleased that their <br />bus'ness is doing well and that they need <br />to xoand. <br />Thig Lease supersedes the existing <br />lea e. The term of the lease is from May <br />1, L992 to October 31, 1995. Rent will <br />sta t at $1,043 per month for six months, <br />inc easing each year. The total rent for <br />the term of the Lease is $63,849. The <br />con itions of the Lease are basically the <br />sam as the previous Lease. We will make <br />six parking spaces available to them in <br />the garage, up from the three spaces we <br />pre iously allowed them. <br />We have agreed to remove a 16 foot <br />con rete block wall dividing area one <br />fran area two and finish the floor where <br />the wall was. The cost estimate for that <br />is 2,000. <br />Ms <br />al <br />wi <br />Manier noted that the Commission must <br />consent to an Assignment of Lease <br />1st Source Bank concerning Billie's <br />pment in the building. <br />-3- <br />COMMISSION FORMALLY APPROVED <br />CLAIMS SUBMITTED MAY 1, 1992 <br />THERE WERE NO COMMUNICATIONS <br />