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South Bend Redevelopment Commission <br />Regular Meeting - September 01, 2000 <br />4. COMMUNICATIONS <br />There were no Communications. <br />5. OLD BUSINESS <br />a. Commission approval requested for <br />professional services in the South Bend <br />Central Development Area. (Lease Rate <br />Analysis of the Wayne St. Garage Retail <br />Space) <br />Mr. Giulioni stated that the staff received two <br />Lease Rate Analyses on the retail space in the St. <br />Joseph/Wayne St. garage to determine the fair <br />market price at which the Commission may lease <br />the space. He noted that one proposal is from <br />Baer Barkley & Company in the amount of <br />$1,200 and the other proposal is from Farrington <br />Appraisals, Inc. in the amount of $500. <br />Mr. Giulioni noted that both proposals are in line <br />with what the Commission would normally <br />approve. He also noted that Farrington <br />Appraisals, Inc. came highly recommended from <br />an appraiser who has performed work for the <br />Commission in the past. <br />Upon a motion by Mr. Faccenda, seconded by <br />Mr. Kahn and unanimously carried, the <br />Commission accepted the proposals from Baer <br />Barkley & Company and from Farrington <br />Appraisal's for professional services in the South <br />Bend Central Development Area. (Lease Rate <br />Analysis of the Wayne St. Garage Retail Space) <br />b. Commission approval requested for proposal <br />to lease property in the South Bend Central <br />Development Area. (Michigan St. Shops Retail <br />Spaces #3 and #4 for Le Peep Restaurant) <br />-3- <br />THERE WERE NO COMMUNICATIONS <br />COMMISSION ACCEPTED THE PROPOSALS <br />FROM BAER BARKLEY & COMPANY AND <br />FROM FARRINGTON APPRAISAL'S FOR <br />PROFESSIONAL SERVICES IN THE SOUTH <br />BEND CENTRAL DEVELOPMENT AREA <br />(LEASE RATE ANALYSIS OF THE WAYNE ST. <br />GARAGE RETAIL SPACE) <br />