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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – February 13, 2025 <br /> <br />6 <br /> <br />along with Kathy Schuth, with the Near Northwest Neighborhood non- <br />profit group will partner together and are very excited to get started. <br />Ms. Velazquez explained they are being mentored by a group in <br />Maryland, as well as a peer group from California, Colorado, New <br />York, and Florida. Commissioner Wax asked if they could collect data <br />regarding the success of the program and keep the Commission <br />updated. Ms. Velazquez explained that they are using the Salesforce <br />system to manage progress and track goals. <br /> <br />Upon a motion by Eli Wax for approval, seconded by David Relos, the <br />motion carried unanimously; the Commission approved the Budget <br />Request as presented on February 13, 2025. <br /> <br />D. River West Development Area <br /> <br />1. Purchase Agreement (State Theater) <br /> <br />Caleb Bauer, Executive Director of Community Investment, presented <br />the purchase agreement for two (2) parcels located at 212 and 216 S. <br />Michigan St. for $800,000 zoned for DT-Downtown and is a .37-acre <br />site with 16,995 square feet of space. Mr. Bauer explained that this <br />property has been vacant and in litigation since March of 2023 and a <br />judgment has been made with a court-ordered sheriff’s sale on <br />December 4th. Mr. Bauer stated that the State Theater is a historic <br />building constructed in 1919 and is listed on the National Register of <br />Historic Places. Mr. Bauer explained that it’s not the City’s intention to <br />renovate the property but to stabilize the building and ensure that it’s <br />weather tight to buy time to work with the community for a better future <br />for the building. He also explained that the City does have an <br />easement on the façade of the building that carries maintenance <br />requirements and if someone doesn’t step in soon, the building may be <br />at a point of demolition. President Warner asked if we know what the <br />stabilization will cost and if there are other partners lined up for the <br />renovation. Mr. Bauer explained we do not have a specific number <br />today, however, following the due diligence process with the purchase <br />agreement and we would not move forward towards closing if it wasn’t <br />viable and we have had conversations and interest with organizations <br />to preserve the theater. <br /> <br />Commissioner Wax asked how the price was determined and Mr. <br />Bauer stated that it was negotiated with the lender and was less than <br />the average of two (2) appraisals and we could update the <br />Commissioners regarding the cost estimates prior to closing. Vice <br />President Relos stated that it’s a building worth saving and necessary <br />for the RDC to step in to save it. Frank Niemiec expressed concerns <br />about the project. Willow Weatherall, Executive Director of Downtown