Laserfiche WebLink
CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING –November 25, 2024 <br /> <br />5 <br /> <br />Erin Michaels, Property Development Manager presented a proposal <br />to amend the lease agreement to Beacon Health Systems on the first <br />floor of the Leighton Building located on the corner of Main St. and <br />Jefferson Blvd. at 111 W. Jefferson. The amendment extends the term <br />expiration date to April 30, 2026 for the completion of a new patient <br />tower. <br /> <br />Upon a motion by David Relos for approval, seconded by Eli Wax, the <br />motion carried unanimously; the Commission approved the First <br />Amendment to the Lease Agreement as presented on November 25, <br />2024. <br /> <br />4. Sixth Amendment to Purchase Agreement (RealAmerica Development, <br />LLC) <br /> <br />Joseph Molnar, Assistant Director of Growth and Opportunity, <br />presented this amendment to the purchase agreement extending the <br />closing date for the Market Rate Parcel to March 31, 2025. The parcels <br />are split between Market Rate and Affordable. The Market Rate Parcel <br />had environmental concerns (lead) in the soil that was higher than <br />accepted for that area. The City partnered with MACOG and received <br />a grant from IDEM to remediate. <br /> <br />Upon a motion by Eli Wax for approval, seconded by Troy Warner, the <br />motion carried unanimously; the Commission approved the Sixth <br />Amendment to the Purchase Agreement as presented on November <br />25, 2024. <br /> <br />5. Third Amendment to Purchase Agreement (The Monreaux, LLC) <br /> <br />Joseph Molnar, Assistant Director of Growth and Opportunity, <br />presented an amendment to the purchase agreement to extend the <br />closing date and contingency date to June 30th, 2025. Devereaux <br />Peters applied for the READI Grant as a part of this project <br />and the announcement for that grant has been delayed with a total <br />investment of $16 million. <br /> <br />Commissioner Eli Wax asked why the project would need an additional <br />six months. Caleb Bauer, Executive Director of Community Investment, <br />stated that the grant was a combined READI request that involves <br />other sites (Inwood building North of the site, another building on the <br />East side of Michigan St.) and this would unlock grant funding for all of <br />the projects. <br /> <br />Upon a motion by David Relos for approval, seconded by Troy Warner, <br />the motion carried unanimously; the Commission approved the Third