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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – September 12, 2024 <br /> <br />5 <br /> <br />Commission approved the budget request as presented on September <br />12, 2024. <br /> <br />C. River West Development Area <br /> <br />1. Second Amendment Development Agreement (Bakery Group) <br /> <br />Joseph Molnar, Assistant Director of Growth and Opportunity <br />presented the second amendment for the Ward Bakery building <br />agreement. The property is in the middle of Near Northwest <br />Neighborhood at the intersection of Portage, California and Cottage <br />Grove. He stated that in August of 2021 RDC approved the <br />development agreement with The Bakery Group for $3.75 million of <br />private investment with $300K of funding from Redevelopment for a <br />commercial center for small businesses and entrepreneurs to be <br />completed within 36 months. The first amendment in June of 2022 as <br />to how the funding would be spent. The Bakery Group has since added <br />new windows, masonry repairs, HVAC system, plumbing repairs, new <br />flooring, structural repairs, new roof, new skylights, and site <br />improvements (photos & video were provided). Mr. Molnar stated that <br />this second amendment is due to difficulty in sourcing materials and <br />would extend the completion date by 18 months with no other <br />substantive changes, however, is expected to be completed early next <br />year. Mike Keen, President of The Bakery Group thanked the city and <br />staff for supporting them through this process. He explained that the <br />project will exceed the estimated $3.75 million to $5.2 -$5.4 million by <br />completion. Phase 1 will have space for approximately 35 to 40 <br />tenants and 6 retail spaces. On the lower level, there will be 13 spaces <br />for maker, and studio space. There are going to be 18-19 office spaces <br />called a co-lab. Tennent’s will have an entrepreneurial and small-scale <br />development ecosystem with a kitchen area. He explained that the <br />budget has jumped due to the focus on the exterior of the building and <br />will be pleasing to the neighborhood. Mr. Molnar also stated that The <br />Bakery Group has submitted all necessary reporting documents. <br /> <br />Commissioner Leslie Wesley wanted to congratulate Mr. Keen and his <br />team for the outer appearance and work being done. Commissioner Eli <br />Wax stated that before and after photos would show the great progress <br />thus far. Mr. Keen explained that supply chain issues with windows <br />and electrical components have been challenging, however, the <br />contractors are making progress. Mr. Barrett thanked Mr. Molnar <br />regarding all the reports that have been filed and asked about using <br />local contractors. Mr. Keen stated that The Bakery Group have used <br />many local contractors and listed them. Mr. Keen wants to create <br />wealth in the community, for the community, and will continue to seek <br />minority contractors.