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South Bend Redevelopment Commission <br />Regular Meeting –April 3, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />A. South Bend Central Development Area <br /> <br />(2) continued… <br /> <br />properties is as follows: 117 E. Wayne St., <br />$200 per month or 5% of the gross revenues, <br />whichever is greater; 118-131 S. Michigan <br />St. is $625 per month or $5% of the gross <br />revenues collected, whichever is greater; <br />Leighton Plaza Courtyard at 130 S. Main St. <br />will be a flat $75 per month. Staff <br />recommends approval of the agreement. <br /> <br />Mr. Varner asked if the agreement stipulates <br />a fee for the leasing agent. Ms. Jennings <br />responded that it does, at 8%. <br /> <br />CC <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED THE OMMERCIAL <br />PML <br />ROPERTY ANAGEMENT AND EASING <br />Mr. Alford and unanimously carried, the <br />ARR <br />GREEMENT FOR EDEVELOPMENT ETAIL <br />Commission approved the Commercial <br />(2009-2010) <br />Property Management and Leasing <br />Agreement for Redevelopment Retail (2009- <br />2010) <br /> <br /> <br /> B. Airport Economic Development Area <br /> <br />(1) Resolution No. 2573 related to acquisition <br />of property in the AEDA. (1500 blk S. <br />Franklin) <br /> <br />Mr. Relos noted that Resolution No. 2573 is <br />related to property located northeast and <br />adjacent to 411 W. Indiana. This property <br />was added to the Airport Economic <br />Development Area Acquisition List by <br />Resolution No. 2456 on June 13, 2008. This <br />approximately ¾-acre vacant lot is needed <br />for the future site of the Transpo <br />transportation center. The lot is owned by <br />Engel Ventures. It lot is almost fully covered <br /> 6 <br /> <br />