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<br />South Bend <br />Redevelopment Commission <br />215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana <br /> <br /> <br /> <br />Redevelopment Commission Agenda Item <br /> <br />DATE : 4/3/26 <br /> <br />FROM: Erin Michaels – Property Development <br />Manager <br /> <br />SUBJECT: South Bend Bike Garage Lease Agreement for <br />Main/Wayne Parking Garage Tenant Space <br /> <br /> <br /> <br /> <br />Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res. <br />* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, <br />then the authorization of the expenditure of such funds shall be void and of no effect. <br /> <br />PURPOSE OF REQUEST: Approval of new lease agreement with the South Bend Bike Garage for the <br />Main/Wayne Parking Garage Tenant Space <br /> <br />SPECIFICS: The Redevelopment Commission (“RDC”) owns the parking garage located at the corner of <br />Main & Wayne St and this building has a first-floor retail space. This retail space had been vacant for a <br />minimum of two decades and was in need of considerable work in order for it to be leasable to a <br />traditional tenant. On October 24, 2024 the RDC and the South Bend Bike Garage ( the “Bike Garage”) <br />entered into an 18-month lease for a portion of this retail space so they could relocate their non-profit <br />organization to downtown. The Bike Garage has made significant renovations to the space and has <br />activated a long-vacant retail location in downtown South Bend. The added foot traffic and activity have <br />also led to an increased use of the Main & Wayne parking garage. <br /> <br />The Bike Garage is a community bicycle garage that offers services such as repairing bicycles, educating <br />customers and volunteers on bicycle repair, and selling repaired donated bicycles. <br /> <br />The current lease agreement terminates on April 24, 2026. RDC staff have been in negotiations with the <br />Bike Garage to secure a long-term lease in this downtown space. During the process of moving the Bike <br />Garage’s operations to the retail location in the Main/Wayne garage certain life-safety improvements <br />were needed which delayed their opening by six months. This new lease agreement contemplates a six- <br />month period during which the Bike Garage will not be charged rent in consideration of these delays. <br /> <br />The broad terms of the lease agreement proposed are as follows: <br /> <br />- Leased Space: Approximately 5,000 SF on the first floor of the Main & Wayne parking garage <br />located at 119 W Wayne St <br />- Term: 36 months <br />- Termination Clause: Either party may terminate with 6 months’ notice <br /> <br /> <br /> ______________ ___________Pres/V-Pres <br /> <br /> <br />ATTEST: __________ ________Secretary <br /> <br />Date: _____________ _______ <br /> <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION