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Commission approves lease with Calumet College for green space and bike-path improvements at 2512 New York Avenue
Summary
The Hammond Redevelopment Commission approved a lease with Calumet College of Saint Joseph allowing the college to develop accessible green space, recreational amenities and a bike path at 2512 New York Avenue; the lease includes a $500 annual rent and a minimum $25,000 improvement commitment plus a right of first refusal.
The Hammond Redevelopment Commission voted Feb. 25 to approve a lease with Calumet College of Saint Joseph, Inc., allowing the college to develop accessible green space, recreational and exercise amenities and a bike path at 2512 New York Avenue.
Under the lease terms presented to the commission, the city will receive $500 per period (as recorded in the staff summary) and the college will invest a minimum of $25,000 in site improvements. The lease also includes a proposed right of first refusal to purchase the property in the future; if exercised, the purchase price would be set as the average of two appraisals, a method the commission said it has used previously.
Commissioners discussed the scope briefly and noted staff’s recommendation. A motion to approve the lease was made and seconded; the roll call recorded five yes votes and the motion passed.
One commissioner noted an exhibit was not attached to the copy presented at the meeting; staff acknowledged the missing exhibit and indicated it will be addressed in the final documents. The lease approval is recorded as authorization to execute the lease consistent with the terms presented and subject to final technical review of exhibits.
