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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 <br /> <br />Page | 2 <br /> <br />2. Approval of Minutes <br />A. Approval of Minutes of the Regular Meeting of Thursday, February 12, <br />2026 <br /> <br />Upon a motion by Ophelia Gooden-Rodgers for approval, second by Eli Wax, <br />the motion carried unanimously; the Commission approved the minutes of <br />the regular meeting of February 12, 2026. <br /> <br />B. Approval of Minutes of the Regular Meeting of Thursday, February 26, <br />2026 <br /> <br />Upon a motion by Ophelia Gooden-Rodgers for approval, second by Eli Wax, <br />the motion carried unanimously; the Commission approved the minutes of <br />the regular meeting of February 26, 2026. <br /> <br />3. Approval of Claims <br />A. Claims Allowances March 9, 2026 <br /> <br />Upon a motion by David Relos for approval second by Gillian Shaw, the <br />motion carried unanimously; the Commission approved the claims <br />allowances of March 9, 2026. <br /> <br />4. Old Business <br />A. None <br /> <br />5. New Business <br />A. South Side Development Area <br />1. Development Agreement (KCG Development LLC) <br />Joseph Molnar, Assistant Director of Growth and Opportunity, stated <br />before you today is a development agreement with KCG Development <br />LLC for a City-owned vacant lot at South Main and Donald Streets. The <br />property has been owned by the Redevelopment Commission for over a <br />decade and has remained vacant since the former building was <br />demolished. KCG is a multifamily housing developer out of Indianapolis. <br />In June 2025, the RDC approved a purchase agreement with KCG with <br />the intent to pursue Low-Income Housing Tax Credits (7th in 3 years). <br />That award was successfully announced in November 2025, allowing the <br />City to leverage federal and state resources. This is one of seven such <br />awards the City has secured in the past three years, after having none in <br />the prior decade. <br /> <br />The development agreement requires the construction of a multifamily <br />housing project with a minimum of 50 affordable rental units at varying <br />AMI levels. The RDC is committing $1 million from the South Side <br />Development Area TIF, alongside a minimum $13 million private