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South Bend Redevelopment Commission <br />Regular Meeting - October 15, 1999 <br />6. NEW BUSINESS <br />Owen Rock ask permission to add items ITEMS 6.R. AND 6.S. WERE ADDED TO THE AGENDA <br />6. r. and 6.s. to the agenda. There was <br />no objection and items 6.r. and 6.s. were <br />added to the agenda. <br />a. Staff report on disposition of <br />property in the South Bend <br />Central Development Area. <br />(Michigan St. Shops) <br />Michael Giulioni stated that Laura <br />Lee's is a clothing retail company, <br />which would like to lease 1,423 sf of <br />retail space in the Leighton Plaza for <br />a term of five years and six months. <br />Laura Lee's proposes to lease the <br />space for $8.25 per sf for the first <br />two years and $10.00 per sf for the <br />remaining term of the lease. <br />The staff recommends a six -month <br />rent abatement for the purpose of <br />providing an allowance for tenant <br />improvements. The staff <br />recommends accepting the proposal <br />and directing Brian Steinke, <br />Redevelopment's attorney, to <br />finalize the lease terms. The final <br />Lease will be brought to the <br />Commission for its consideration. <br />Upon a motion by Mr. Blake, <br />seconded by Ms. Jones and <br />unanimously carried, the <br />Commission approved the Lease of <br />the 1,423 sf of retail space in the <br />Leighton Plaza to Laura Lee's, <br />subject to receiving a letter from <br />-4- <br />