Resolution No. 3659 Site Plans & Execution Real Estate Purchase Agrmnt. (Momentum) - Signed

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RESOLUTION NO. 3659 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROVING CERTAIN SITE PLANS AND THE EXECUTION OF A REAL ESTATE PURCHASE AGREEMENT WITH MOMENTUM DEVELOPMENT GROUP, LLC WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the governing body of the South Bend, Indiana, Department of Redevelopment (the “Department”), is the owner of certain real property, specifically parcel numbers 018-3017-0615, 018-3017- 0620, 018-3017-0621, 018-3017-0622, and 018-3017-0623, and more particularly set forth in the attached Exhibit A (the “Property”); and WHEREAS, the Commission exists and operates pursuant to the Redevelopment of Cities and Towns Act of 1953, as amended, being Ind. Code 36-7-14 (the “Act”); and WHEREAS, the Commission and the Momentum Development Group, LLC, an Indiana limited liability company with registered offices at P.O. Box 815, South Bend, IN 46601 (the “Buyer”), entered into a certain Real Estate Option Agreement, dated May 25, 2023 as further amended by the First Amendment to Real Estate Option Agreement dated August 8, 2024 (the “Option Agreement), in which the Commission agreed to grant the Buyer an exclusive option to purchase the Property upon certain conditions being met by the Buyer. WHEREAS, during the Option Period, as defined by the Option Agreement, the Commission received the Buyer’s Notice of Intent to purchase the Property as provided for in the Option Agreement, which included detailed site plans and specifications for the Buyer’s proposed use of the Property that comply with all applicable zoning and land use laws and regulations; and WHEREAS, in accordance with the terms of the Option Agreement, the Commission and the Buyer have negotiated the terms of a real estate purchase agreement for the Property in the form attached hereto as Exhibit B (the “Purchase Agreement”); and WHEREAS, and the Commission believes that the approval of the Purchase Agreement is in the best interests of the citizens of the City and furthers redevelopment and therefore desires to approve the Buyer’s site plans the negotiated Purchase Agreement. NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS: 1.The site plans and specifications for the Property that were delivered with the Buyer’s Notice of Intent are hereby accepted and approved. 2.The Commission hereby approves the Purchase Agreement and deed in the forms attached hereto as Exhibit B and authorizes the President of the Commission and Secretary of the Commission to execute and attest, respectively, said Purchase