Redevelopment Commission Agenda & Packet 12.18.25 - Final

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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – December 11, 2025 Page | 6 3. Certificate of Completion (Momentum Entrepreneurship Hub) Joseph Molnar, Assistant Director of Growth and Opportunity, presented agenda items 5A3 & 4 together. The building now known as the Momentum Entrepreneurship Hub was formerly the Salvation Army building on Main Street downtown South Bend. Mr. Molnar showed a photo for context and explained the City purchased it several years before the photo was taken and used the northern portion as a weather amnesty shelter for a few years. That program has since moved to a purpose-built space at the Center for the Homeless, leaving this building vacant. Today, if you drive down Main Street, you’ll see an attractive, fully renovated building with open windows and thoughtful design. In May, the City entered into a purchase agreement with the Momentum Group to redevelop the former Salvation Army building. The agreement required $6 million private investment and completion within 36 months, along with specific commitments such as a commercial kitchen in the northern section. The developer exceeded the investment requirement and fully opened the building this fall (2025), meeting all commitments ahead of schedule. Inside, the first floor has been completely redeveloped into entrepreneurship spaces. Individuals—such as attorneys or small businesses—can rent office suites, and there are common areas designed to foster collaboration. The building also features a full-service bar on the first floor that is open to the public. The certificate of completion confirms that Momentum met all obligations under the purchase agreement, and the Redevelopment Commission has certified the project as complete. This means the City no longer retains any rights to reclaim the property. At the same time the purchase agreement was approved, an option agreement was created for five surrounding parcels, primarily parking lots supporting the building. The RDC also agreed to fund improvements to those lots, which have now been completed. Momentum has exercised its option, and the RDC will finalize the sale of those parcels for $1,000, as previously approved. The map shows the building outlined in red and the five parcels marked with stars. These parcels will now be transferred to Momentum, formalizing ownership after all improvements. The final image highlights the building and upgrades parking lot. For context, the same ownership group also invested significantly in the Soma building just south of this site, and the two properties share parking. Mark Neal of the Momentum Development Group stated he wanted to briefly highlight what’s been accomplished and express their deep gratitude to the Commission for supporting this project. This building is now an anchor on the south end of downtown, and we’re thrilled with the outcome. The entrepreneurship hub will provide significant