HomeMy WebLinkAboutCRC-12-2000 Ultimate Designs Hair Salon Property
CITY OF CARMEL REDEVELOPMENT COMMISSION
RESOLUTION NO. lA --,20OU
WHEREAS,'Ullimate Deslgns,Hair,Salon, Inc., and°Loretta,M. Babineau (collectively„the
"Tenant"), currentlylease premises located at 114 We84Main Street, Carmel,; Indiana (the "Leased Premises")
pursuant to a lease dated May,25; 1999 (the "Lease');:
WHEREAS, pursuari the lease, Tenant operates a beauty salon (the "Business") in'the-
Leased Premises;
WHEREAS„on February 3,,2000, the City of Carmel Redevelopment Commission ("CRC")
acquired the property on which'the Leased Premises is located (the "Property"),
WHEREAS, as part of the acquisition of the Property; CRC received an assignmentof: (a) the
Lease; and (b) the security deposit of $800.00 paid'by Tenant-under,the Lease (the ',Security Deposit"),
WHEREAS, CRC plans toincorporatethe Property, togethorwith additional property identified
by CRC (collectively, the "'Old Tcwn.,Property"), into the "Old Town" redevelopmentproject (the "Old Town
Project");,
WHEREAS, as.part:of the Old Town Project: (a) the buildings on.the.Old Town. Property,
including the building.in,which the Leased Premises is located, will be demolished, and:(b) new.buildings will
be constructed;
WHEREAS, CRC desires for Tenant to vacate. the Leased Premises•befcre.the term of the
Lease expiresdn order to,faoilitate commencement'of construction of'the.Old Town,Project;
WHEREAS, since acquisition of I - he Property, CRC,has;been assisting.certain tenants of the
Property with relocation of their businesses to•new locations in the,City, of Carmel,.lndiana (the "City");
'WHEREAS, Tenant intends to: (a),vacate the Leased Premises; (b) enter into a lease (the.
"Relocation Lease") with respect to`a premises located`in the City butnutside of, the Old Town Project (the-
to. the Relocation Premises;
"Relocation Premises"); and(6) relocate the
WHEREAS, CRC, and Tenant have reached an-agreement-pursuant_to which CRC.shall
provide assistance to Tenant with respect,to the relocation of the.Business by Tenant to the Relocation
Premises;
WHEREAS, as part of the agreemen_tfeachied'byand between CRC and Tenant, CRC shall;
(a) pay to Tenanta Lease terminatio payment in the amount of $3,000 00 (the-'TerminatiomPaymert"), and
(b) install and(orupgrade (or pay for the instaltatiorrandlor upgrading of) plumbing and electrical services,in
the Relocation Premises, so that such plumbirg•and`electricat services are? (i) suitaBle,for the operation of
a beauty shop; and (ii) readyfor`the attachmentby Tenant -of•plumbing and electrical fixtures, respectively,
that are standIard for"a_beauty shop (the"`CRC Work") and
WHEREAS, CRC desires to.authorize the execution of a-settlement agreement that:
(a) provides for:_ (i) surrender by Tenantof the Leased Premises; (ii) payment by CRC of the Termination
Payment; and (Iii) performance of (orpayment for)the,CRC Work; and (b) contains other terms and conditions
customary in seftlement agreements (the "Settlement Agreement"):
HOW,,-THEREFORE BE IT RESOLVED THAT-
CRC 'hereby authorizesr.(a) the execution. oMhe,Senlement'Agraement; (b) the paymenl by CRE of
the Termination Payment in accordance with the terms and conditions of the Settlement Agreement; and
(c) the performance of (or payment for) the CRC Work in accordance with the terms and conditions of the
Settlement Agreement.
2. The President of CRC hereby is authorized to execute the Settlement Agreement and any and all
documents required in connection with: (a) the Settlement Agreement; (b) the payment by CRC of the
Termination Payment in accordance with the terms and conditions of the Settlement Agreement; and (c) the
performance of (or payment for) the CRC Work in accordance with the terms and conditions of the Settlement
Agreement.
Passed by the Redevelopment Commission of the City of Carmel, Indiana, this k/_th day of June, 2000,
by a vote of 3 ayes and 3 nays.
CITY OF CARMEL REDEVELOPMENT COMMISSION
By:
usan W termeier
By:
WK ldt
B'
oven
repared by Wallack Somers 8 Haas, Special Counsel to CRC
By. CoZc.
Richard A. Roesch
By:
Lan?ld E. Carter
//7,?, / f
Attest:
Diana L. Cordray,
Clerk-Treasurer (((///