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South Bend Redevelopment Commission <br />Regular Meeting - September 15, 2000 <br />3. CLAIMS (CONT.) <br />Upon a motion by Mr. Kahn, seconded by COMMISSION APPROVED THE CLAIMS <br />Ms. Jones and unanimously carried, the SUBMITTED SEPTEMBER 15, 2000, AND <br />ORDERED THE CHECKS TO BE RELEASED <br />Commission approved the Claims submitted <br />September 15, 2000, and ordered the checks to <br />be released. <br />4. COMMUNICATIONS <br />There were no Communications. THERE WERE NO COMMUNICATIONS <br />5. OLD BUSINESS <br />a. Commission approval requested for proposal <br />to lease property in the South Bend Central <br />Development Area. (Michigan St. Shops Retail <br />Spaces #3 & #4 for Le Peep Restaurant) <br />Mr. Giulioni stated that the lease areas total <br />approximately 2,703 sq. ft. and the base rent will <br />be $10.50 per sq. ft. He noted that the proposed <br />terms of the lease agreement will be 6 years and <br />6 months, with two 5 year options to extend the <br />lease. The tenant requested a 3 month rental <br />abatement because of improvement that will be <br />made to the space. <br />Upon a motion by Mr. Caldwell, seconded by COMMISSION APPROVED THE PROPOSAL TO <br />Ms. Jones and unanimously carried, the LEASE PROPERTY IN THE SOUTH BEND <br />CENTRAL DEVELOPMENT AREA (MICHIGAN <br />Commission approved the proposal to lease ST. SHOPS RETAIL SPACES #3 & #4 FOR LE <br />property in the South Bend Central Development PEEP RESTAURANT) <br />Area. (Michigan St. Shops Retail Spaces #3 & #4 <br />for Le Peep Restaurant) <br />b. Commission approval requested for <br />Resolution No. 1791 setting the fair re -use <br />value of property in the South Bend Central <br />Development Area. (101 W. Colfax Ave. /201 <br />N. Michigan St., Lease Area #1 and 113 W. <br />Colfax Ave., Lease Area #2, Palais Royale <br />Retail Space) <br />Mr. Giulioni noted that items 5.b, 5.c and 5.d all <br />relate to Resolution No. 1791. <br />-3- <br />