HomeMy WebLinkAbout5A1 Lease btwn RA and RDC College Football Hall of Fame Memo 6.13.2016°°T11
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Item: 5:A1
Investment
Redevelopment Commission Agenda Item
DATE: June 13, 2016
FROM: David Relos, Economic Resources �.
SUBJECT: Fifth Addendum to Lease Between the South Bend Redevelopment
Authority, as Lessor, and the South Bend Redevelopment Commission, as
Lessee (College Football Hall of Fame / Century Center Project)
When bonds were issued and a lease between the Authority and Commission entered in
to for the College Football Hall and Fame (HOF) and Century Center projects in 1993, the
full HOF property was included in the lease.
In 1997 the Commission entered in to a lease with South Bend Chocolate Company
(SBCC) for their downtown Cafe, and subsequently SBCC expanded to the north. This
expansion area included a small portion of the HOF property.
Since it is contemplated to sell SBCC their downtown property currently being leased from
the Commission, and to clear various title exceptions appearing on the expansion area's
title report because its legal description is included in the lease between the Authority and
Commission, this Fifth Addendum excepts out the expansion area from the legal
description of the lease between the Authority and Commission, which will then clear the
title exceptions caused by the lease.
This Addendum will be presented to the Redevelopment Authority for approval at their
next meeting on June 15.
Staff requests approval of the Fifth Addendum to Lease Between the South Bend
Redevelopment Authority, as Lessor, and the South Bend Redevelopment Commission,
as Lessee for the College Football Hall of Fame / Century Center project, subject to
Redevelopment Authority approval on June 15.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 1 P: 574 - 235 -9371 1 FAX: 574 - 235 -9021 1 SOUTHBENDIN.GOV