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Robert Bosch Corp. to pay South Bend more than $2 million

SOUTH BEND – A maker of automotive parts and consumer goods that has left South Bend before its lease was up has agreed to pay the northern Indiana city more than $2 million.

The South Bend Tribune reports the city’s Redevelopment Commission on Thursday approved a lease termination agreement with the Robert Bosch Corp. Bosch will pay the city a total of $2,073,155.04. That includes a $1.3 million penalty for breaking the lease and $746,072 to repay the balance on a loan taken out by the city in 2000 to make improvements to the property.

Bosch also must continue to make payments to the city on a $538,508 loan from the state.

The company moved out of the city in December, leading to a loss of about 250 jobs.

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