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To: Redevelopment Commission <br />From: Debrah Jennings, Property Manager <br />Subject: Policy for Early Termination of Lease <br />Date: July 26, 2011 <br />Staff is proposing the Redevelopment Commission adopt a policy on Early Termination of Lease for <br />Redevelopment Retailers that have concluded they are no longer able to operate their business. <br />Those businesses that have elected to close prematurely before fulfilling their lease term obligations, rather <br />than holding them responsible for the duration of the lease, staff has drafted a policy to release the retailer from <br />the lease, provided they meet all qualifications. <br />Staff is recommending approval of this policy. <br />H: \WPDATA \correct memo.doc <br />