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South Bend Redevelopment Commission <br />Regular Meeting -April 3, 2009 <br />revenues collected, whichever is greater; <br />Leighton Plaza Courtyard at 130 S. Main St. <br />will be a flat $75 per month. Staff <br />recommends approval of the agreement. <br />Mr. Varner asked if the agreement stipulates <br />a fee for the leasing agent. Ms. Jennings <br />responded that it does, at 8%. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Alford and unanimously caiTied, the <br />Commission approved the Commercial <br />Property Management and Leasing <br />Agreement for Redevelopment Retail (2009- <br />2010) <br />B. Airport Economic Development Area <br />(1) Resolution No. 2573 related to acquisition <br />of property in the AEDA. (1500 blk S. <br />Franklin) <br />Mr. Relos noted that Resolution No. 2573 is <br />related to property located northeast and <br />adjacent to 411 W. Indiana. This property <br />was added to the Airport Economic <br />Development Area Acquisition List by <br />Resolution No. 2456 on June 13, 2008. This <br />approximately %-acre vacant lot is needed <br />for the future site of the Transpo <br />transportation center. The lot is owned by <br />Engel Ventures. It lot is almost fully covered <br />with a concrete slab and has an 8-foot metal <br />fence around two sides. It is currently being <br />used by Waste Management, though not <br />owned by that company. Resolution <br />No. 2573 sets the offering price for the <br />property at $42,537.50, the average of two <br />independent appraisals. <br />Upon a motion by Mr. Downes, seconded by <br />Ms. King and unanimously carried, the <br />COMMISSION APPROVED THE COMMERCIAL <br />PROPERTY MANAGEMENT AND LEASING <br />AGREEMENT FOR REDEVELOPMENT RETAIL <br />(2009-2010) <br />COMMISSION APPROVED RESOLUTION NO. 2573 <br />RELATED TO ACQUISITION OF PROPERTY IN THE <br />AEDA. (1500 BLK S. FRANKLIN) <br />6 <br />