Laserfiche WebLink
South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />D ATE : 3/21/25 <br />FROM: Joseph Molnar, Assistant Director <br />of Growth & Opportunity <br />SUBJECT: Milkweed Development 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: Development Agreement with EmpowerHer Development LLC, Milkweed Gardens Inc. <br />and Herstoric Properties LLC for the Restoration of 512, 516, 520, and 530 S. Michigan Street <br />SPECIFICS: The proposed development agreement with the above developers will help lead to the renovation of <br />two buildings located at 530 S. Michigan and 516 S. Michigan Street. The buildings are known as the former <br />Hope Rescue Mission and the Monarch Building respectively. Both buildings have been long-vacant and unused. <br />The developers have envisioned transforming the two buildings and the vacant lot between them as Milkweed <br />Commons. The end results will be 15 small businesses commercial spaces, community kitchen, and food market. <br />The proposed agreement commits the Developer to expending a minimum of $2.2 million on the restoration of <br />the property. The proposed agreement commits the Redevelopment Commission to expend no more than <br />$350,000 to aiding in the redevelopment of the property including primarily replacement and installation of new <br />roofs on the two buildings. <br />The redevelopment of the property will allow for the activation of two long-vacant buildings in downtown South <br />Bend. This activation and the creation of the Milkweed Commons campus will help the continued <br />redevelopment of the south downtown, which has multiple active ongoing redevelopment projects. Projects like <br />Milkweed Commons enhance the vibrancy of South Bend and ensure the stabilization of buildings vital to the <br />urban fabric of the city. <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 />March 27, 2025 <br />