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South Bend Redevelopment Commission <br />Vmo Regular Meeting - November 3, 1995 <br />5. OLD BUSINFSS (Cont.) <br />b. continued... <br />and 1616, 1802, and 1810 South Phillipa in <br />the Sample -Ewing Development Area. <br />(Habitat for Humanity) <br />Item 5.b. was tabled. <br />6. NEW BUSINFSS <br />ITEM 5.13. WAS TABLED <br />a. Staff report on disposition of property in <br />the Airport Economic Development Area. <br />There was no report. <br />THERE WAS NO REPORT <br />b. Commission approval requested for <br />Commercial Lease in the South Bend <br />Central Development Area. (Catering by <br />Billie, Inc.) <br />Mrs. Kolata noted that the Commission had a <br />three -year lease with Catering by Billie, Inc. <br />for the retail space in the St. Joseph/ Wayne <br />Street Garage with some renewal options. The <br />three -year lease expired on October 31. <br />Catering by Billie preferred to negotiate a new <br />three -year lease rather than exercising its <br />option. The lease will run from November 1, <br />1995 through October 31, 1998. The lease <br />provides for the rent to be $1,718.25 /month in <br />the first year, increasing to $1,777.50 /month <br />in the second year and $1,836.75 /month in <br />the third year. The lease also provides two <br />one -year options to renew at a rate to be <br />negotiated at that time. <br />-5- <br />