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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting - January 4, 1994 <br />6. NEW BUSINESS (Cont.) <br />continued... <br />rental term at $4.16 per square foot. <br />They will also pay $20,000 toward <br />tenant improvements which will total <br />approximately $47,000. While this <br />rentis below the rent set by the appraisal <br />process, the staff recommends accepting <br />the offer because this is a not - for -profit <br />organization, which supports the visual <br />and performing arts. The entertainment <br />district is a key part of the <br />redevelopment of the downtown. The <br />staff feels there is a nice synergism to <br />having MASC in the Morris Performing <br />Arts complex. <br />Mr. Hunt noted for the record that Mrs. <br />Kolata, Redevelopment Director, serves <br />on the board of MASC. <br />Upon a motion by Mr. Sharp, seconded <br />by Mr. Donoho and unanimously <br />carried, the Commission accepted the <br />proposal from Michiana Arts and <br />Sciences Council for the 1730 sft of <br />retail space in the Palais Royale <br />Building. <br />Commission approval requested for <br />Agency Agreement with the Board of <br />Public Works for design and construction <br />of local Public improvements related to <br />the Stephenson Mill Apartments project. <br />Mr. Hunt noted that this Agency <br />Agreement authorizes the Board of <br />Public Works to handle the public <br />-10- <br />COMMISSION ACCEPTED THE PROPOSAL <br />FROM MICHIANA ARTS AND SCIENCES <br />COUNCIL FOR THE RETAIL SPACE IN THE <br />PALAIS ROYALE BUILDING <br />