11.25.24 RDC Full Packet - Laserfiche WebLink

Home Browse Search

CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – November 14, 2024 4 Upon a motion by Vivian Sallie for approval, second by David Relos, the motion carried unanimously; the Commission approved the Notice of Intended Disposition as presented on November 14, 2024. 4. Development Agreement (321 W. Wayne St.) Joseph Molnar, Asst. Director of Growth and Opportunity, presented a development agreement for the renovation of a blighted former industrial building with the purpose of instituting a new brewery with family entertainment options, as well as some of the building being renovated for professional offices. The developer commits $1.5 million in private investment improvements to the building, and the agreement commits the Redevelopment Commission to $70,000 local public improvements to be completed by December 31, 2027. Mr. Molnar showed renderings of the design of the building and explained it will have family-friendly space included. Indiana Historic Landmarks have stated that they would also go into that space. Regina Emberton, with Historic Hearthstone, owns the 17,000 square foot facility and would be leasing to Ivy Alley Brewhouse. She stated that she has engaged Keel Architecture to help with renovations and hopes to keep the historic nature of the building. Ms. Emberton explained that they have leased at no cost the 4500 square foot basement level to South Bend Trade Works, which deals with vintage restoration of construction materials. President Warner asked about the timeline for the project. Ms. Emberton stated that the goal would be to be open by the start of the baseball season next year. Jonathan Boulos spoke in favor of the project. Upon a motion by Troy Warner for approval, second by Vivian Sallie, the motion carried unanimously; the Commission approved the Development Agreement as presented on November 14, 2024. 5. Purchase Agreement (Stoic Beverages) Joseph Molnar, Asst. Director of Growth and Opportunity, presented a purchase agreement for a property the city re-acquired in early 2024 from Bear Hands Brewery, which the city had sold the property a number of years earlier to Bear Hands and re-acquired after they did not meet the minimum investment and the terms of their purchase agreement. A competitive request for proposals was issued and Stoic Distilling Co. demonstrated firm financing and experience for the site. The purchase price is $20,000 for a full-service distillery with $300,000 in private investment to begin construction in 12 months and to finish in 36 months.