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South Bend Redevelopment Commission <br />Regular Meeting —January 16, 2014 <br />6. NEW BUSINESS (CONT.) <br />A. South Bend Central Development Area <br />(1) continued... <br />Ms. Jennings noted that Bradley Company currently manages the Redevelopment Retail <br />properties known as the Michigan Street Shops. It has maintained a 100% lease rate for <br />over a year and has collected 90% to 95% of rent. Staff recommends renewing the <br />management agreement with Bradley Co. for an additional year, ending January 31, 2015. <br />Upon a motion by Ms. Schey, seconded by Mr. Downes and unanimously carried, the <br />Commission authorized sending the Notice of Renewal Agreement with Bradley Company <br />LLC for management of the Michigan Street Shops. <br />(2) Second Amendment to Lease with J Weldy, LLC dba Bruno's Pizza. <br />Ms. Jennings noted that the lease to Bruno's Pizza in the Michigan Street Shops expired <br />November 30, 2013. The term of the Second Amendment to Lease is from December 1, <br />2013 to November 30, 2016 and has the following rent structure: <br />December 2013 — November 2014, $16,800 annually <br />December 2014 — November 2015, $18,144 annually <br />December 2015 — November 2016, $19,595 annually <br />The rent structure is consistent with the franchise lease rates. Bruno's Pizza has been an <br />excellent tenant with a history of consistent, on -time and paid -in -full lease payments. Staff <br />recommends approval. <br />Upon a motion by Ms. Schey, seconded by Mr. Downes and unanimously carried, the <br />Commission approved the Second Amendment to Lease with J Weldy, LLC dba Bruno's <br />Pizza <br />(3) Proposal for Phase I Environmental Assessment for the Hill and Colfax development <br />site. <br />Mr. Kain noted that on December 9, 2013 the Commission approved a purchase agreement <br />to sell the parcel at NW Hill and Colfax to Colfax Hill Partners, LLC. As part of the <br />purchase agreement, the Commission committed to providing a new Phase 1 Site <br />Assessment. Staff solicited a proposal from Jones Petrie Rafinski. Their fee is $1,700, to <br />be paid from the SBCDA TIF. Staff recommends approval. <br />Upon a motion by Mr. Varner, seconded by Mr. Downes and unanimously carried, the <br />Commission approved the Agreement for Professional Services by and between the City of <br />South Bend, Indiana and Jones Petrie Rafinski for the scope of services and fee proposed. <br />