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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – December 11, 2025 <br /> <br />Page | 7 <br /> <br />programming for the community, helping both new and experienced <br />entrepreneurs make an impact. We’ve created jobs as expected under <br />the tax abatement and anticipate continued growth. Thank you again for <br />your support—this project has been a long time in the making, and we <br />couldn’t be more pleased with the results. Commissioners Wax, Shaw, <br />and Gooden-Rodgers spoke in favor of the project. <br /> <br />Upon a motion by Eli Wax for approval, seconded by Gillian Shaw, the <br />motion carried unanimously; the Commission approved the Certificate <br />of Completion as presented on December 11, 2025. <br /> <br />4. Resolution No. 3659 Approving Site Plans and Execution of Real Estate <br />Purchase Agreement (Momentum Development Group, LLC) <br /> <br />Upon a motion by Eli Wax for approval, seconded by Ophelia Gooden- <br />Rodgers, the motion carried unanimously; the Commission approved <br />Resolution No. 3659 approving Site Plans and Execution of the Real <br />Estate Purchase Agreement as presented on December 11, 2025. <br /> <br />5. First Amendment to Purchase Agreement (Property Bros.) <br />Joseph Molnar, Assistant Director of Growth and Opportunity, <br />presented agenda items 5A5-7 together. All three agenda items relate to <br />the Property Bros development and purchase agreement for parcels in <br />the Near Northwest neighborhood, just north of Lincoln Way. <br />In June 2024, the RDC sold three properties—619 Sherman, 620 <br />Sherman, 1021½ and 1023 ½ Lincoln Way West—with a commitment to <br />build duplexes. Property Bros also added two additional parcels for <br />duplex construction. Since then, the developer has completed four <br />structures, meeting unit count and investment requirements. One <br />remaining parcel was not needed and will be returned to the RDC. <br /> <br />The amendments reflect this return and remove the parcel from the <br />development agreement. The certificate of completion confirms all other <br />commitments were met, and RDC will have no further claim on the <br />completed parcels. In short: the developer fulfilled obligations, and this <br />action simply finalizes the return of an unused lot. <br /> <br />Commissioner Gooden-Rodgers asked if you could explain what <br />happened with the third property. Mr. Molnar stated that the developer <br />made significant investments beyond their original estimates on the <br />other parcels and was able to build more units than expected. They’ve <br />already met their unit count and investment commitments, and the City <br />has fulfilled its financial obligations for the project. Since this parcel isn’t <br />needed to meet those commitments, and the developer is now pursuing <br />a larger project in the same neighborhood, we agreed it would be best