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South Bend Redevelopment Commission <br />Regular Meeting - September 5, 1997 <br />6. NEW BUSINESS (CONT.) <br />b. continued.... <br />Ms. Kolata stated that the Commission's <br />concern is the first floor retail space and the <br />exterior appearance of the building. If those <br />two issues are addressed, the staff would <br />recommend that a provision be put in the <br />Development Agreement that would allow <br />the South Bend Chocolate Company to <br />develop the second and third floors of the <br />building but not make it a requirement. <br />Mr. Hunt asked if the Commission can <br />comply with the South Bend Chocolate <br />Company's "Item Four Condition" listed in <br />their proposal without holding a public <br />hearing. Ms. Kolata stated that the <br />Commission will have to go through the <br />public disposition process before the <br />Commission could allow someone to <br />purchase the Center City Associates <br />building. If the building were put up for bid <br />for disposition, any potential bidder would <br />need to purchase the building subject to <br />existing leases. This would include the <br />proposed 20 year lease for South Bend <br />Chocolate. Mark Tamer and South Bend <br />Heritage Foundation have requested that <br />somewhere in the Lease Agreement there is <br />an acknowledgement that the Commission's <br />current "as is" value of the property is <br />$43,000 to $45,000 based on the current <br />appraisals. <br />Ms. Schwartz asked if the property has <br />previously been offered publicly for lease. <br />Ms. Kolata stated that it had. Ms. Schwartz <br />asked if the terms of the lease include all <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSM090597.MIN -18- <br />