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South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />D ATE : 9/2/25 <br />FROM: Erin Michaels – Property Development Manager <br />SUBJECT: First Amendment to Commercial Lease with East <br />Bank Learning Center <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 Proposed First Amendment to Commercial Lease between the RDC and East <br />Bank Learning Center <br />SPECIFICS: The Redevelopment Commission approved a purchase agreement for the former Oaklawn building <br />located at 425 E Madison on November 25, 2024 and the RDC was assigned as Lessor to the Commercial Lease <br />with the current tenant, the East Bank Learning Center. <br />The East Bank Learning Center and RDC staff wish to amend the Commercial Lease to add or revise the following <br />terms: <br />- Clarify the leased space for the East Bank Learning Center <br />-Either party may terminate this Commercial Lease with eighteen (18) months written notice <br />- Clarify the Maintenance and Repairs responsibilities of the Lessor and Lessee <br />-Update the annual rent increases to 2.5% <br />-Update renewal terms to allow Lessee to renew lease for a twenty-four (24) month term provided they <br />notify Lessor eighteen (18) months prior to the expiration of the Lease. <br />o Rent during the renewal period to increase at a rate of 2.5% for the first twelve (12) month <br />period of the renewal term and 2% for the second twelve (12) month period of the renewal term <br />_________________________Pres/V-Pres <br />ATTEST: __________________Secretary <br />Date: ____________________ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />September 11, 2025 <br />