Laserfiche WebLink
South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />D ATE : October 24, 2024 <br />FROM: Erin Michaels, Property Development Manager <br />SUBJECT: Lease Agreement – Main/Wayne Parking Garage <br />& South Bend Bike Garage Inc <br />Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res. <br />* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the <br />authorization of the expenditure of such funds shall be void and of no effect. <br />PURPOSE OF REQUEST: Approval of Lease Agreement with South Bend Bike Garage Inc <br />On March 28, 2024, the RDC approved the Real Estate Purchase Agreement of the parking garage located at 119 <br />West Wayne Street commonly known as the Wayne Street Parking Garage. This property has two ground floor <br />retail spaces that are currently vacant. <br />The Lease Agreement being considered at this meeting contains the short-term commitment by the South Bend <br />Bike Garage to occupy and operate a community bicycle garage for 18 months without rent. The total square <br />footage of the proposed leased space would be approximately 1,680 square feet and is the smaller of the two <br />vacant suites. Four parking spaces in the garage are proposed to be reserved for the South Bend Bike Garage’s <br />use as well. In the proposed agreement there is an option for a renewal of the lease for a period of 2 years on <br />the same terms except that rent will be negotiated for the extended timeframe. <br />The South Bend Bike Garage is a community bicycle garage that offers services such as repairing bicycles, <br />educating customers and volunteers on bicycle repair, selling repaired donated bicycles and allowing volunteers <br />who work 6 hours in the Garage to earn their own bicycle. <br />_________________________Pres/V-Pres <br />ATTEST: __________________Secretary <br />Date: ____________________ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />10-24-2024 <br />