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Lawrence J. Meteiver, Assistant City Attorney <br />Department of Law <br />1400 County City Building <br />South Bend, Indiana 46601 <br />574 235 -9294 (Direct) <br />574 235 -9892 (Fax) <br />hneteive @southbendin.gov <br />66N <br />MEMORANDUM <br />TO: Members of the Redevelopment Commission <br />DATE: September 9, 2011 <br />RE: Stephenson Mills Apartments <br />VIA E -MAIL <br />Kimberly - Clark, the company which operates Stephenson Mills Apartment Building, has <br />contacted the City requesting the City agree to convert the lease of the associated parking lot to an <br />easement to that lot. We had been contacted previously to extend the lease to match the term of the <br />new financing for the Apartments. The Commission agreed to and approved the requested extension <br />of the lease. <br />After further financing applications made by Kimberly - Clark, the company has learned that it <br />would be advantageous to their financing program that their interest in the parking lot be an <br />easement instead of a lease. These documents convert the lease to an easement and extend the term <br />of the easement to the same term as the previously approved lease extension. The lease extensions <br />were held in our file pending the completion of Kimberly - Clark's financing application. The lease <br />extensions will be disposed of and replaced with these documents. <br />The Commission's approval is requested. <br />