2 Redevelopment Commission Minutes 03.26.26 - TABLED

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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 26, 2026 Page | 5 Upon a motion by Ophelia Gooden-Rodgers for approval, seconded by Eli Wax, the motion carried unanimously; the Commission approved the Budget Request as presented on March 26, 2026. 2. 3rd Amendment to Development Agreement (GLC, Madison Lifestyle District) Erik Glavich, Director of Growth & Opportunity, presented a proposed amendment to the GLC Madison Lifestyle District Development Agreement. The request is for a two-month extension of the due diligence period for this multi-phase, transformative redevelopment project south of Beacon Memorial Hospital. The project, previously approved by the Commission with $5.78 million in funding, is part of a broader agreement involving the City, GLC, and Beacon, including land contributions and parking improvements. The extension follows a six-month extension approved last September and is needed to finalize remaining financial and project details. Mr. Glavich noted that the project is progressing, with bids issued, fencing scheduled, and construction expected to begin soon. The extension will not delay construction and is intended to ensure all funding mechanisms and commitments are fully aligned. Linda Brothersen, with Great Lakes Capital noted that the next step following the due diligence period will be issuance of a notice to commence, outlining project elements contemplated in the development agreement. Due to the project’s complexity, particularly related to funding sources and mechanisms—a two-month extension is requested to allow staff to present all details clearly and comprehensively. In response to a question from President Warner regarding whether the extension will delay the project, staff confirmed that the extension will not delay construction or the overall project timeline. Design and preparatory work are ongoing, required state funding deadlines are being met, and the extension is intended to ensure all City funding tools, including abatements and district mechanisms, are fully aligned and documented for the Commission’s review. Commissioner Gooden-Rodgers asked if two months would be enough of an extension, Ms. Brothersen noted that the City’s commitments, including potential tax abatement, were reaffirmed through the confirmation agreement. The project’s support through the IDD is in place and aligns with those commitments. The IDD is in a good position, and written IDC approvals allow staff to prepare responses for the