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South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />D ATE : 11.21.24 <br />FROM: Joseph Molnar, Assistant Director of <br />Growth & Opportunity <br />SUBJECT: Revs Development LLC 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: Approval of a Development Agreement with Revs Development LLC <br />SPECIFICS: Revs Development LLC (“Developer”) has recently acquired property located at the intersection of <br />Orange Street and Johnson Street consisting of six (6) parcels in total (the “Property”). On the Property is a <br />church that suffered a fire while under previous ownership. The church is beyond repair and needs to be <br />demolished. <br />The proposed Development Agreement (“Agreement”) commits the Redevelopment Commission to expending <br />not to exceed $150,000 on the deconstruction of the existing church structure and removal of the dilapidated <br />existing parking lot. The Agreement then commits the Developer to expending not less than $400,000 on <br />constructing improvements on the Property including the construction of a minimum of two (2) housing units on <br />the Property as well as reconstructing the sidewalks. Furthermore, the Agreement commits the Developer <br />agrees to grant the RDC an exclusive option to purchase the Property. The Option Agreement shall be triggered <br />only if the Developer fails to complete the project improvements or expend the full amount of private <br />investment by December 31, 2028. <br />The Property resides in the Kennedy Park neighborhood which has not seen the construction of new housing in <br />decades and has seen large scale population decline. Demolition of a currently blighted and hazardous building <br />while also committing to the construction of two new housing units just a few blocks west of the new Dream <br />Center will help increase the quality of life for all nearby residents. <br />Staff recommends approval of the Agreement. <br />_________________________Pres/V-Pres <br />ATTEST: __________________Secretary <br />Date: ____________________ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />11-25-2024 <br />