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South Bend Redevelopment Commission <br />Meeting - June 7, 1996 <br />6. NEW BUSINESS (Cont.) <br />d. Commission approval requested for <br />an extension of lease in the South <br />Bend Central Development Area <br />(Osco Drug, Inc.) <br />Mr. Hunt noted that this building is <br />owned by the Redevelopment <br />Commission and is leased to Osco <br />Drug, Inc. The extension of the <br />existing lease is for a 2 year period for <br />approximately $17,500 a year. Under <br />the lease, Osco Drug, Inc. is solely <br />responsible for paying all property taxes <br />and all maintenance repairs. As part of <br />the agreement Osco's has waived all <br />rights to relocation costs or any <br />requirement of the Commission for <br />purchase of immovable fixtures. <br />Upon a motion by Mr. Faccenda, <br />seconded by Mr. Donoho and <br />unanimously carried, the Commission <br />approved an extension of lease with <br />American Drug Stores in the South <br />Bend Central Development Area. <br />e. Commission approval requested for <br />Contract for Sale of Land in the <br />Airport Economic Development Area. <br />(Blackthorn Corporate Park) <br />Mr. Riggs explained that this is a <br />follow -up from the approved proposal <br />for the parcel of land in the Blackthorn <br />Corporate Park. This contract with <br />Nephrology, Inc., increases the <br />Commission's responsibility for site <br />preparation work from $10,000 to <br />$20,000. <br />-5- <br />COMMISSION APPROVED AN EXTENSION OF <br />LEASE IN THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA FOR AMERICAN DRUG <br />STORES <br />