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South Bend Redevelopment Commission <br /> Regular Meeting—July 12, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> D. South Bend Central Development Area <br /> (1) continued... <br /> Policy to Waive Lease Term for Vacating <br /> Tenants. <br /> Under the following conditions the <br /> Redevelopment Commission will consider an <br /> early termination of a lease upon a tenant's <br /> request. <br /> 1) The tenant has occupied the space for at <br /> least one year. <br /> 2) The tenant is current on all payments due <br /> the Redevelopment Commission, including <br /> but not limited to rent and CAM. <br /> 3) Rent paid shall be at least sufficient to <br /> cover any cost of tenant improvements and <br /> leasing commissions paid by the <br /> Redevelopment Commission. <br /> 4) Condition of the space at move out must <br /> conform to the requirements of the lease. <br /> 5) The business does not relocate to another <br /> space for a period of not less than one year. <br /> If the above conditions are met and the <br /> Commission provides for an early <br /> termination of the lease, it will be <br /> conditioned on item five above. Should the <br /> business relocate within a year the <br /> Commission's early termination will be null <br /> and void, and the former tenant will be held <br /> to the original term of the lease. <br /> 11 <br />