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<br />South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br /> <br /> <br /> <br />Redevelopment Commission Agenda Item <br /> <br />DATE : 9/22/25 <br /> <br />FROM: Erik Glavich, Director, Growth & Opportunity <br /> <br />SUBJECT: 2nd Amendment, Development Agreement (Great <br />Lakes Capital) <br /> <br /> <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 /> <br />PURPOSE OF REQUEST: Second Amendment to Development Agreement with Great Lakes Capital for the <br />Madison Lifestyle District development project. <br /> <br />SPECIFICS: On March 28, 2024, the Redevelopment Commission approved a Development Agreement with Great <br />Lakes Capital for a large redevelopment project in downtown immediately south of Memorial Hospital. The <br />project, known as the Madison Lifestyle District, is a historic and transformative development that requires <br />significant coordination by the City, the Developer, and others involved the project. <br /> <br />The Development Agreement established an 18-month period (the “Mutual Project Diligence” period) for the <br />City and the Developer to work together through planning and other due diligence items. Through this Second <br />Amendment to Development Agreement, t he City and the Developer both desire to extend the Mutual Project <br />Diligence period to 24 months to March 28, 2026. (Note that the first amendment on August 22, 2024, corrected <br />an inadvertent omission of a single parcel from references to the Project Property in certain portions of the <br />Development Agreement.) <br /> <br /> <br /> <br /> <br /> <br /> <br /> _________________________Pres/V-Pres <br /> <br />ATTEST: __________________Secretary <br /> <br />Date: ____________________ <br /> <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION