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SOU TX BE
of ,A liiilCr�� 'rO
F� %z Department of
Community Investment
1865
Memorandum
April 25, 2013
TO: Redevelopment Commission /y
FROM: David Relos, Economic Resources Associate
SUBJECT: Gates Automotive Corp. lease renewals
As part of the January 2012 final acquisition of the downtown Gates Campus properties, the
Commission assumed two leases.
The first lease is for the Gates Service Center located at 410 W. Monroe. The rent for this
property is $60,000 per year, or $5,000 per month.
The second lease is for the Gates Used Car Lot at 205 W. Western. The rent for this
property is $30,321.60 per year, or $2,526.80 per month.
Both leases are for an initial five year term, expiring July 31, 2013. Both leases grant the
Lessee an option for three, two year renewals.
Gates would like to renew both leases, and have given notice of this intent, which is
attached.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574- 235 -9021 1 SOUTHBENDIN.GOV
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naton
AUTOMOTIVE
GROUP
Bill Schalliol, JD ' 3/28/13
Business Development
Department of Community Investment
227 W. Jefferson Blvd., Ste. 1400
South Bend, IN 46601
Dear Mr. Schalliol:
This letter is to inform you of our intention to exercise the option to renew our
leases pertaining to the following locations beginning on August 1, 2013:
205 W. Western Ave., South Bend, IN 45534
410 W. Wayne St., South Bend, IN 45534
If you need to contact me for any reason, please call 574 -256 -3000 or e-mail me
at mhelmkami)egateschevvmish.com. Thank you in advance for your assistance
in this matter.
Regale_
Matt Helmkamp
Owner
MH /dlu
Gates Toyota I Scion • 640W. Ireland Rd. • P.O. Box 4056 • South Bend, IN 46634
Phone (574) 23714999 • 71oll Free (800) 2896969 • www.gatesautotnotivexotn
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