6C(4) SASCO Lease Extension - Laserfiche WebLink

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~ c c~) • ~OTB ~ ~~~1~7/~~0 Community & Economic Development ~'. ;,~' ~ /8f5 ~ 1200 County-City Building, 227 West Jefferson, South Bend, Indiana 46601-1830 Phone 574/235-9371 Fax 574/235-9021 To: Redevelopment Commission From: David Relos, Economic Development Planner Subject: Sasco extension request Date: February 05, 2010 On September 18, 2009, the Commission approved the Lease Termination and Settlement Agreement with Teacher's Credit Union for the old Studebaker Engineering building at the corner of Franklin and Sample, which houses the Studebaker auto parts collection. This Agreement called for a termination date of February 14, 2010, to allow for the orderly move of the auto parts collection. This move is going very well, but because of the sheer magnitude of the collection, the purchaser of the auto parts has asked for a one month extension to complete the move. Section 4 of the Agreement requires that an extension be approved in writing by both the Redevelopment Commission and TCU. TCU is agreeable to this extension. Because the granting of this extension will not effect the demolition schedule for this building or the old Foundry, Staff requests approval of this extension. What We Do Today Makes A Difference!