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<br />South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br /> <br /> <br /> <br />Redevelopment Commission Agenda Item <br /> <br />DATE : 9/9/2024 <br /> <br />FROM: Joseph Molnar, Assistant Director of <br />Growth & Opportunity <br /> <br />SUBJECT: Second Amendment Bakery Group <br />Development Agreement <br /> <br /> <br />Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res. <br />* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the <br />authorization of the expenditure of such funds shall be void and of no effect. <br /> <br />PURPOSE OF REQUEST: Approval of the Second Amendment of the Bakery Group Development Agreement <br /> <br />SPECIFICS: On August 12, 2021, the Redevelopment Commission approved a Development Agreement with the <br />Bakery Group LLC for the rehabilitation of the former Ward Bakery Building. Due to several significant material <br />items taking longer than initially anticipated to procure, including portions of the Local Public Improvements <br />committed to by the Redevelopment Commission, the Bakery Group was not able to meet their deadline of <br />finishing by September 2024. <br /> <br />Staff have reviewed documentation and reports from the Bakery Group indicating that the investment <br />requirements are well on their way to being met and have done tours of the building confirming the Bakery <br />Group has expended considerable amount of resources rehabbing the building with an anticipation of tenants <br />moving in during 2025. <br /> <br />Staff believe the Bakery Group has in good faith pursued the project and will continue to do so. The proposed <br />Second Amendment extends the due date of the completion of the project for eighteen more months. <br /> <br />Staff recommends approval. <br /> <br /> <br /> <br /> <br /> _________________________Pres/V-Pres <br /> <br />ATTEST: __________________Secretary <br /> <br />Date: ____________________ <br /> <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION