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South Bend Redevelopment Commission <br />Regular Meeting - May 20, 1994 <br />6. NEW BUSINESS (Cont.) <br />1. Commission approval requested for <br />Extension of Lease with American Drug <br />Stores. Inc. (Osco Drug Store) <br />Mrs. Kolata noted that the Lease with <br />American Drug Stores gives them three <br />two -year options to extend the lease. They <br />have exercised one option and have now <br />requested to extend the lease an additional <br />two years on the second option. This <br />extension will run from September 11, <br />1994 through September 14, 1996. <br />Upon a motion by Mr. Sharp, seconded by <br />Mr. Donoho and unanimously carried, the <br />Commission approved the Extension of <br />Lease with American Drug Stores, Inc. <br />(Osco Drug Store) <br />m. Commission approval requested for <br />Proposals for professional services in the <br />South Bend Central Development Area. <br />(Dreisbach property) <br />Mrs. Kolata noted that the Dreisbach <br />property was donated to the Commission at <br />the end of 1993. The staff has been <br />discussing the options of how to offer the <br />property for sale or lease, as a whole or in <br />parts. We need to hire two appraisers to <br />set a value for the property. The first <br />proposal is from McCloskey -Pitts who <br />would complete the appraisal in 30 - 45 <br />days for a fee of $3,500. Ralph Lauver <br />has proposed to complete the appraisal <br />within 30 days for a fee of $3,500. The <br />staff recommends accepting both proposals. <br />-20- <br />COMMISSION APPROVED THE EXTENSION <br />OF LEASE WITH AMERICAN DRUG STORES, <br />INC. (OSCO DRUG STORE) <br />