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South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />DATE : October 7, 2024 <br />FROM: Caleb Bauer, Exec. Dir, Community Investment <br />SUBJECT: Old Cleveland Road Purchase Agreement <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 />PURPOSE OF REQUEST: Staff requests consideration of a purchase agreement for a 15-acre property located at <br />4022 Old Cleveland Road <br />SPECIFICS: <br />The purchase agreement for the 15-acre property located at 4022 Old Cleveland Road would establish an <br />$825,000 purchase price for the property, which is zone I – Industrial. The price is justified by two commercial <br />appraisals. <br />If approved, closing would occur within 90 days of approval following a due diligence period. <br />The intended use of the property is as a location for the Low-Barrier Intake Center that was originally proposed <br />at a property located on N. Bendix Drive. This new proposed location is larger in acreage and better-located for <br />the prospective use. <br />If approved, staff would begin the disposition process on the Commission-owned property on Bendix Drive at the <br />next commission meeting. <br />_________________________Pres/V-Pres <br />ATTEST: __________________Secretary <br />Date: ___________________ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br /> <br />10-10-2024