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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 10, 2025 <br /> <br />7 <br /> <br />A special assessment could then be placed on the building. If this <br />assessment isn't paid, the building might go to a tax sale. At the tax <br />sale, a buyer could pay the starting bid or cover the communication <br />costs. If no buyer bids, the property would roll over to the <br />Commissioner's certificate sale, where the starting bid would be <br />discounted. If there are still no bids, we could request the Commission <br />to transfer the certificate to the City of South Bend. By this point, likely <br />three to four years would have passed, and the building might be <br />beyond saving. For public safety reasons, the City would then need to <br />procure the demolition of the building, which we estimate would cost <br />around $2,000,000 in today's dollars and we are trying to avoid all of <br />this. Commissioner Ellison voiced concerns about the future success <br />of the venue and Mr. Bauer stated that today, downtown South Bend is <br />seeing significant investment, with a billion dollars planned and many <br />new residential units. This growth is boosting the area's viability for <br />retail and entertainment. Unlike before, there's strong financial <br />momentum and more people living downtown. This makes it the right <br />time for redevelopment, despite some viability concerns. The building <br />is historically important, requiring a unique approach beyond just <br />economic considerations. <br /> <br />Upon a motion by Eli Wax for approval, seconded by Ophelia Gooden- <br />Rodgers, the motion carried unanimously; the Commission approved <br />the 1st Amendment to the Purchase Agreement as presented on April <br />10, 2025. <br /> <br />6. Budget Request (State Theater) <br /> <br />Upon a motion by Eli Wax for approval, seconded by Troy Warner, the <br />motion carried unanimously; the Commission approved the Budget <br />Request as presented on April 10, 2025. <br /> <br />6. Progress Reports <br /> <br />A. Tax Abatement <br /> <br />B. Common Council <br /> <br />C. Other <br /> <br />7. Next Commission Meeting <br />Thursday, April 24, 2025, 9:30 a.m. BPW Conference Room 13th Floor <br /> <br /> <br /> <br />