HomeMy WebLinkAbout5A3 Development Agreemtn (South Bend Yourth Hockey)
Redevelopment Commission Agenda Item
DATE: 7/25/23
FROM: Erik Glavich, Director, Growth & Opportunity
SUBJECT: South Bend Youth Hockey (Ice Box)
Development Agreement
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST: Development Agreement for property located at 1421 S. Walnut Street, South
Bend, Indiana 46619 (The Ice Box Skating Rink)
SPECIFICS: The Commission will consider a Development Agreement with South Bend Youth
Hockey Inc, a nonprofit corporation which owns and operates the Ice Box. The Ice Box will build
a new third rink and expand their facilities.
This Agreement specifies that (1) the Funding Amount provided by Redevelopment Commission
will not exceed $2.0 million and (2) the Private Investment by the Developer will be no less than
$9.0 million. The Developer agrees to complete the project by the end of 2026. The Funding
Amount will be used to purchase new “chiller” equipment for the new and existing rinks, with
the remaining funds to be used for parking lots on the property.
Staff recommends approval of this Development Agreement.
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
July 27