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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 /> (2) continued... <br /> business and a fine stationary business. <br /> Another unique business is Bombay Imports, <br /> which did well until the recession then <br /> needed some relief which the Commission <br /> granted. As the city continues to lease retail <br /> space, it is expected there will be businesses <br /> that are good fits, and others where the fit <br /> may ultimately not be right. <br /> This type of policy recognizes the <br /> Commission's willingness to be flexible and <br /> work with businesses that make a good faith <br /> effort, keep current on their rent and give <br /> notice of their need to vacate before the lease <br /> term expires. <br /> The policy itself has provisions that the <br /> tenant would occupy the space for at least <br /> one year, need to be current on all payments <br /> due the Redevelopment Commission <br /> including, but not limited to, rent and CAM. <br /> The rent that's paid must be at least sufficient <br /> to cover the cost of tenant improvements and <br /> leasing commissions that the Redevelopment <br /> Commission fronted for the project, and the <br /> condition of the space at move-out must <br /> conform to the requirements of the lease. <br /> Lastly, Mr. Inks noted that the policy intends <br /> to discourage tenants from leaving downtown <br /> retail spaces because they found a cheaper <br /> space someplace else. Therefore, the policy <br /> includes the provision that for one year <br /> tenants would be prohibited from opening at <br /> another location. <br /> Mr. Varner felt that that requirement should <br /> 13 <br />