Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - February 4, 2000 <br />6. NEW BUSINESS (CONT.) <br />f. continued.... <br />was informed that the property <br />owner intended to construct a new <br />house on the property, but that has <br />never taken place. The Department <br />of Redevelopment intends to acquire <br />this piece of property. Mrs. Kolata <br />also stated that Resolution No. 1741 <br />sets the Public Hearing for March 3, <br />2000, at 10:00 a.m. <br />Upon a motion by Mr. Donoho, <br />seconded by Ms. Jones and <br />unanimously carried, the <br />Commission authorized the Director <br />to File Resolution No. 1741 <br />Amending the Sample -Ewing <br />Development Area Development <br />Plan and Setting the Public Hearing <br />on Resolution No. 1741 for 10;00 <br />a.m., on Friday, March 3, 2000. <br />g. Commission approval requested <br />for Lease with Cort Furniture <br />Rental Corporation for Retail <br />Space No. 5 in the Leighton Plaza <br />Retail Space in the South Bend <br />Central Development Area. <br />Mrs. Kolata stated that Cort <br />Furniture proposes to lease Retail <br />Space No. 5 for five years and nine <br />months. No rent payment will be <br />due for the first nine months of the <br />Lease. This is to allow the tenant to <br />make interior improvements to the <br />retail space. At the end of the five - <br />year period, the base rent will be <br />$14,535, per year or $1,211.25, per <br />month, ($9.50 per square foot). <br />There are two five -year renewal <br />options. The rent will increase to <br />$10.40 a square foot and $11.40 a <br />square foot during the two five -year <br />renewal option periods. <br />COMMISSION AUTHORIZED THE <br />DIRECTOR TO FILE RESOLUTION NO. 1741 <br />AMENDING THE SAMPLE -EWWG <br />DEVELOPMENT AREA DEVELOPMENT <br />PLAN AND SETTING THE PUBLIC HEARING <br />ON RESOLUTION NO. 1741 FOR 10;00 A.M., <br />ON FRIDAY, MARCH 3, 2000 <br />-10- <br />