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2 A Minutes 12-12-13 Meeting
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2 A Minutes 12-12-13 Meeting
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South Bend Redevelopment Commission <br />Regular Meeting — Thursday, December 12, 2013 <br />6. NEW BUSINESS (CONT.) <br />A. South Bend Central Development Area <br />(2) Disclaimer and Waiver of Interest to 1" Source Bank for fixtures to be installed at 119 <br />S. Michigan St. (Yummy Cupcakes, Michigan Street Shops) <br />Mr. Zeeb noted that Yummy Cupcakes is requesting the Redevelopment Commission sign a <br />disclaimer and Waiver of Interest for 1 st Source Bank on fixtures being installed in the 119 <br />S. Michigan St. Shop. <br />The loan through 1St Source Bank is for fixtures being installed in the Commission owned <br />property. Normally when fixtures are installed into a building they become part of the <br />building. This waiver would allow 1St Source Bank the right to those fixtures in the event of <br />a default on the loan. This waiver also requires the Commission give 1St Source Bank a 30- <br />day notice prior to terminating the lease with Yummy Cupcakes, so that it has an <br />opportunity to enter the building and secure its interest in the fixtures. <br />The Commission attorney has review the waiver of interest and finds it acceptable. Staff <br />requests approval. <br />Upon a motion by Mr. Downes, seconded by Mr. Inks and unanimously carried, the <br />Commission approved Disclaimer and Waiver of Interest to 1 st Source Bank for fixtures to <br />be installed at 119 S. Michigan St. (Yummy Cupcakes, Michigan Street Shops). <br />(3) Agreement for Services by and between the City of South Bend, Department of <br />Redevelopment, acting by and through the South Bend Redevelopment Commission <br />and Downtown South Bend, Inc. (Downtown Beautification) <br />Mr. Relos noted that annually the Commission enters into an agreement with Downtown <br />South Bend, Inc. (DTSB), to provide an array of services to the downtown area. Examples <br />of DTSB's services are: <br />Beautification Program (flowers, plants, mulch, soil, baskets, liners, snow removal) <br />Streetscape Improvements (banners & flags, holiday decor, street furniture & art) <br />Business recruitment / retention (assistance, data base, research development) <br />This 2014 agreement is the same as the 2013 agreement, which was expanded to include <br />DTSB's responsibility for bicycle racks and the management of the banner program. The fee <br />for these services is $250,000, billed monthly based on services provided. <br />DTSB's work in keeping the downtown area safe, clean, and beautiful is well documented <br />and keeps the downtown experience pleasant and appealing. Staff requests approval of the <br />2014 Agreement for Services with DTSB. <br />rd <br />
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