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South Bend <br />Redevelopment Commission <br />215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />D ATE : 12/3/25 <br />FROM: Joseph Molnar – Assistant Director of Growth <br />& Opportunity <br />SUBJECT: Resolution No. 3659 Approving Certain Site <br />Plans & Real Estate Purchase Agreement with <br />Momentum Development Group <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, <br />then the authorization of the expenditure of such funds shall be void and of no effect. <br />PURPOSE OF REQUEST: Approval of Resolution No. 3659 Approving Certain Site Plans & Real Estate <br />Purchase Agreement with Momentum Development Group <br />SPECIFICS: On May 25, 2023 the Redevelopment Commission and Momentum Development Group <br />entered into a Real Estate Option Agreement as further amended by a First Amendment approved on <br />August 8, 2024 in which the Commission agreed to grant Momentum Development Group an exclusive <br />option to purchase five (5) parcels adjacent to Momentum South Bend which comprise the parking lot <br />adjacent to the facility. <br />Momentum Development Group has notified the Commission of their intent to execute the Option <br />Agreement and in accordance with the terms of the Option Agreement Commission staff have negotiated <br />a Real Estate Purchase Agreement for these parcels which is attached to this resolution as Exhibit B. <br />The proposed Real Estate Purchase Agreement terms are below: <br />-Purchase Price: $1,000 (As agreed upon in the Option Agreement) <br />-Due Diligence Period: 30 Days <br />-Closing Date: 15 Days after Due Diligence Period <br /> Staff requests approval. <br />______________ ___________Pres/V-Pres <br />ATTEST: __________ ________Secretary <br />Date: _____________ _______ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />December 11, 2025 <br />