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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 : 1/17/2025 <br />FROM: Joseph Molnar – Assistant Director of Growth & <br />Opportunity <br />SUBJECT: Option to Purchase Agreement – 4124 Old <br />Cleveland Road <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 Option to Purchase Agreement for property located at <br />4124 Old Cleveland Road <br />SPECIFICS: <br />The proposed Option to Purchase Agreement for the property located at 4124 Old Cleveland Road is located <br />near the property the Redevelopment Commission recently purchased located at 4022 Old Cleveland Road which <br />has the intended use as the location of a Low-Barrier Intake Center that was originally proposed on N. Bendix <br />Drive. <br />The current owners of the property expressed their interest in selling the property located at 4124 Old Cleveland <br />Road if the Low-Barrier Intake Center proceeds with construction. <br />The proposed option would give the Redevelopment Commission an exclusive option to purchase the property <br />within five (5) years of the effective date. The Commission can exercise this option when building permits are <br />approved by the St. Joseph County Building Department for the proposed Low-Barrier Intake Center and <br />purchase the property for $374,000 subject to two (2) independent appraisals and in consideration of this option <br />the Commission would pay the current owners $25,000. <br /> The proposed option dictates the Closing Date to be six (6) months after the option is exercised and permits the <br />current owners a period of six (6) months after the Closing Date to vacate the property located at 4124 Old <br />Cleveland Road in order to have appropriate time to remove all personal property from premises. <br />_________________________Pres/V-Pres <br />ATTEST: __________________Secretary <br />Date: ____________________ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />January 23, 2025 <br />