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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 : 1/15/2026 <br /> <br />FROM: Erin Michaels – Property Development Manager <br /> <br />SUBJECT: Purchase Agreement – Widerquist Development, <br />LLC – 534 Laporte Ave <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: Approval of Purchase Agreement with Widerquist Development, LLC for 534 Laporte Ave <br /> <br />SPECIFICS: The proposed Purchase Agreement (the “Agreement”) is for a property owned by the Redevelopment <br />Commission (“RDC”) located at 534 Laporte Ave. The Board of Public Works (“BPW”) acquired this parcel <br />through the tax sale in 2017 and it was transferred to the RDC’s ownership in 2023 to facilitate its <br />redevelopment. Redevelopment of the site is challenging due to the small size of the parcel and existing <br />structure. <br /> <br />Widerquist Development LLC is a local developer who has completed over 30 renovations of homes in South <br />Bend near this property since 2007. The developer would renovate this property for an office and distribution <br />center for their residential real estate business. <br /> <br />The Agreement commits Widerquist Development, LLC to the following terms: <br />- Purchase Price: $2,000.00 <br />- Due Diligence Period: 60 days <br />- Closing Deadline: 30 days after due diligence period <br />- Minimum Investment: $20,000.00 <br />- Construction Start Deadline: 12 months after closing <br />- Construction Completion Deadline: 24 months after closing <br />- Certificate of Completion issued by the RDC once construction is complete <br /> <br />The sale of this property will bring a currently vacant building to productive use, while supporting a successful <br />business in the City of South Bend. Staff recommends approval. <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