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<br />DEVELOPMENT AGREEMENT
<br />This Development Agreement (this “Agreement”), is effective as of August 28, 2025 (the
<br />“Effective Date”), by and between the City of South Bend (the “City”), Department of
<br />Redevelopment, acting by and through its governing body, the South Bend Redevelopment
<br />Commission (the “Commission”), and Greater Lowell Holdings LLC, an Indiana Limited Liability
<br />Company, Earth Designs Real Estate, LLC, an Indiana Limited Liability Company, and 520 E
<br />LaSalle LLC, an Indiana Limited Liability Company, each with a principal mailing address of P.O.
<br />Box 148, South Bend, Indiana 46624-0148 (together and collectively, the “Developer”) (each, a
<br />“Party,” and collectively, the “Parties”).
<br />RECITALS
<br />WHEREAS, the Commission exists and operates under the provisions of the
<br />Redevelopment of Cities and Towns Act of 1953 , as amended (I.C. 36-7-14 et seq., the “Act”);
<br />and
<br />WHEREAS, the Act provides that the clearance, replanning, and redevelopment of
<br />redevelopment areas are public uses and purposes for which public money may be spent; and
<br />WHEREAS, Greater Lowell Holdings LLC, Earth Designs Real Estate, LLC, and 520 E
<br />LaSalle LLC are related entities operating under shared ownership; and
<br />WHEREAS, the Developer owns certain real property described in Exhibit A, together
<br />with all improvements thereon and all easements, rights, licenses, and other interests appurtenant
<br />thereto; and
<br />WHEREAS, the Developer is in the process of acquiring certain other real property
<br />described in Exhibit B, together with all improvements thereon and all easements, rights, licenses,
<br />and other interests appurtenant thereto; and
<br />WHEREAS, the property described in Exhibit A and the property described in Exhibit B
<br />together and collectively are henceforth known as the “Developer Property” for the purposes of
<br />this Agreement; and
<br />WHEREAS, the Developer currently has private financing and desires to construct,
<br />renovate, or otherwise rehabilitate certain elements of the Developer Property (the “Project”) in
<br />accordance with the project plan and site plans (collectively, the “Project Plan”) attached hereto
<br />as Exhibit C; and
<br />WHEREAS, the Developer is committed to enhancing the vibrancy, livability, and quality
<br />of place of the neighborhoods surrounding the Developer Property, as well as to fostering
<br />economic resiliency and job creation in the City; and
<br />WHEREAS, the Developer has made substantial investments in redevelopment projects in
<br />and around the Developer Property, including the acquisition of the property located at 501 East
<br />LaSalle Avenue, a former gas station that had served as a barrier to further redevelopment in the
<br />area; and
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