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South Bend Redevelopment Commission <br />Regular Meeting - June 5, 1998 <br />6. NEW BUSINESS (CONT.) <br />L continued.... <br />Lease rate negotiations will be <br />determined by updated market <br />information provided by the <br />Commission's agent. If an agreement <br />cannot be reached within sixty (60) <br />days of when the lease is to expire, the <br />Commission will go through the full <br />public bid process. <br />Anne Bruneel stated that the Draft <br />Policy on Leasing the Retail Space <br />needs to be revised to clarify that if a <br />retail space is currently rented and the <br />Lease is due to expire, all of its options <br />are also due to expire. The tenant <br />would have to enter into a new Lease. <br />Upon a motion by Mr. Donoho, <br />seconded by Mr. Blake and <br />unanimously carried, the Commission <br />approved the Policy for Leasing of <br />Retail Space, as amended. <br />g. Commission approval requested for <br />Bid Specifications for parking garage <br />retail space in the 100 Block of S. <br />Michigan Street. <br />Mrs. Kolata stated that these are the bid <br />specifications that will be sent out in <br />the bid packets relative to the retail <br />space as part of the parking garage in <br />the 100 Block of S. Michigan Street. <br />They are as follows: (1) The retail space <br />would be located on the first floor of <br />the Leighton Plaza parking garage at <br />-22- <br />COMMISSION APPROVED THE POLICY FOR <br />LEASING OF RETAIL SPACE, AS AMENDED <br />