HomeMy WebLinkAbout5A2 Seventh Amendment (REPA Bear Brew LLC)
Redevelopment Commission Agenda Item
DATE: 2/3/23
FROM: Joseph Molnar
SUBJECT: 7th Amendment
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST: Approval of Seventh Amendment to Bare Hands Real Estate Purchase
Agreement
Specifics: In January 2023, Chris Gerard owner of Bare Hands Brewery contacted the City that
the February 1st rough-in inspection would not be met. Mr. Gerard provided details about
contractors who were supposed to start work weeks earlier and who could not because of
supply chain issues.
Mr. Gerard has asked for a short extension of the rough-in inspection to March 1st 2023 in order
to achieve that benchmark in time. No extension has been proposed for the September 1 st
opening day deadline.
Staff recommends approval of the amendment.
INTERNAL USE ONLY: Project Code: _______________________________________________;
Total Amount new/change (inc/dec) in budget: _______________; Break down:
Costs: Engineering Amt: ______________________; Other Prof Serv Amt_________________;
Acquisition of Land/Bldg (circle one) Amt: ___________; Street Const Amt ________________;
Building Imp Amt_________; Sewers Amt_________; Other (specify) Amt: ________________
___________________________________________. Going to BPW for Contracting? Y/N
Is this item ready to encumber now? ____ Existing PO#__________ Inc/Dec $_____________
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
SEVENTH AMENDMENT TO REAL ESTATE PURCHASE
AGREEMENT
This Seventh Amendment to Real Estate Purchase Agreement (“Seventh Amendment”) is
made effective as of February 1, 2023 (the “Effective Date”) by the City of South Bend, Indiana,
Department of Redevelopment, acting by and through its governing body, the South Bend
Redevelopment Commission (the “Seller”) and Bear Brew LLC (“Buyer” and collectively with the
Seller, the “Parties”). Each of the Parties may be referred to in this Amendment as a “Party.”
Recitals
A. The Parties entered into a Real Estate Purchase Agreement, dated August 25, 2016, as the
same was amended by a First Amendment to Real Estate Purchase Agreement, dated
October 27, 2016, a Second Amendment to Real Estate Purchase Agreement, dated
December 15, 2016, a Third Amendment to Real Estate Purchase Agreement, dated
January 9, 2020, a Fourth Amendment to Real Estate Purchase Agreement, dated
effective July 9, 2020, a Fifth Amendment to Real Estate Purchase Agreement, dated
effective September 20, 2020, a Sixth Amendment to Real Estate Purchase Agreement.
Dated effective March 31, 2022, (collectively the “REPA”), in which the Seller agreed to
sell and the Buyer agreed to purchase and develop certain real property located at 331
W. Wayne St., South Bend, Indiana (the “Property”).
B. The Parties again desire to modify certain portions of the REPA.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and promises
contained in this Seventh Amendment and the REPA and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Parties agree as follows:
1. The following sentence of Section 12.A.v. of the REPA entitled
"Commencement of Development":
Buyer shall also complete a rough-in inspection with the Building
Department prior to February 1, 2023 (the “Project Rough-In Inspection
Date”).
Shall be deleted in its entirely and replaced with the following:
Buyer shall also complete a rough-in inspection with the Building
Department prior to March 1, 2023 (the “Project Rough-In Inspection
Date”).
2. Unless expressly modified by this Seventh Amendment, the terms and
provisions of the REPA remain in full force and effect.
3. Capitalized terms used in this Seventh Amendment will have the meanings set
forth in the REPA unless otherwise stated herein.
IN WITNESS WHEREOF, the undersigned have executed this Seventh Amendment as of
the date set forth after their signatures.
SOUTH BEND REDEVELOPMENT COMMISSION
By:
Marcia I. Jones, President
ATTEST:
Vivian Sallie, Secretary
Date: February___ , 2023
BEAR BREW LLC
Christopher Gerard
Sole Owner
Date: