PORTAGE | The Northwestern Indiana Regional Planning Commission and the Northwest Indiana Forum will maintain its home in Portage.
Mike Micka, of Holladay Properties, the property management group overseeing the building on Southport Road, told the city's Redevelopment Commission on Wednesday a preliminary agreement has been reached by the two agencies and the commission.
The lease will be for 10 years.
Micka said NIRPC and NWI Forum will consolidate offices within the 25,000-square-foot building. That will leave 4,000 square feet for the commission to lease to another tenant.
In addition, the commission will pay $750,000 to remodel the space for the two offices. Micka said the agencies pay a combined $260,000 annually to rent the space, providing a three-year payback for the remodeling.
The 20-year-old building has been the home for NIRPC and NWI Forum since it opened. The agencies had earlier this year indicated it might move their headquarters to another location. The building had not been refurbished since it was initially constructed.
The interior construction should begin in January and could take 10 weeks to complete.
In addition to remodeling the NIRPC/NWI Forum space, the commission will have to spend money to refurbish the vacated 4,000 square feet. Micka said those renovations shouldn't be done until a tenant is found.
Mayor James Snyder said the commission should also look at refurbishing and updating the lobby and auditorium areas of the building.