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South Bend Redevelopment Commission <br />Regular Meeting -November 21, 2008 <br />6. NEW BUSINESS (CONT.) <br />B. South Bend Central Development Area <br />(1) continued... <br />term tenant and should have been a <br />reasonable request. Mr. Inks indicated that <br />staff had not considered that request, since <br />the lease was just renewed for five years. <br />Ms. Jones said she thought the jump from the <br />first year to the terms of the second year was <br />a large leap and thinks this adjustment is <br />reasonable. Ms. Jones suggested we take a <br />look at the lease each year to see if it needs to <br />be adjusted. <br />Ms. Jones noted that an empty building is not <br />only unsightly, but it isn't paying payroll and <br />income taxes. Also, the cost of tenant <br />improvements for a new tenant would far <br />exceed the concessions being made here. <br />Upon a motion by Mr. Downes, seconded by <br />Ms. King and unanimously carried the <br />Commission approved the lease proposal for <br />127 S. Michigan Street, with the additional <br />requirement that the Lease terms be reviewed <br />annually. (LePeeps Restaurant, Michigan St. <br />Shops) <br />C. Airport Economic Development Area <br />(1) Appointment of members to Board of <br />Directors of the Owners Association at <br />Blackthorn. (William Mischel, three <br />years; William Panzica, one year) <br />Mr. Inks noted that while the Commission <br />remains the largest landowner at Blackthorn <br />Corporate Park, it appoints all three members <br />COMMISSION APPROVED THE LEASE PROPOSAL <br />FOR 127 S. MICHIGAN STREET, WITH THE <br />ADDITIONAL REQUIREMENT THAT THE LEASE <br />TERMS BE REVIEWED ANNUALLY. (LEPEEPS <br />RESTAURANT, MICHIGAN ST. SHOPS <br />