HomeMy WebLinkAbout5A5 Second Amendment (PNA)
Redevelopment Commission Agenda Item
DATE: 12/11/2023
FROM: Joseph Molnar
SUBJECT: 2nd Amendment 2401 W Western
Which TIF? (circle one) River West; River East; South Side; Douglas Road; West Washington
PURPOSE OF REQUEST: Second Amendment to 2401 W Western Purchase Agreement
Specifics: In July 2021, the RDC approved a purchase agreement with Panaderia Y
Supermercado for the sale of 2401 W Western with the following terms: building a grocery
store of at least 10,000 square feet, building at least two additional tenant spaces, commencing
construction within 12 months, completing construction within 36 months, employing at least
25 employees, and using design elements consistent with the City’s 2014 West Side Main
Streets Plan.
The developer has consistently worked with the City over the past two years to refine the
design for the grocery store and tenant spaces as well as being upfront with difficulties on
securing a construction partner. Staff is requesting an amendment to the agreement to change
the commencement of construction to be within 32 months of the Closing Date and complete
construction within 44 months of the Closing Date. No other changes to the agreement are
requested. Staff requests approvals of the Second 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