HomeMy WebLinkAbout5B1 Staff Recommendation RFP (410 W Wayne) MemoSouth Bend Redevelopment Commission
227 West Jefferson Boulevard, Room 1308, South Bend, Indiana
Redevelopment Commission Agenda Item
DAT E : 10/4/2024
FROM: Joseph Molnar, Assistant Director of Growth and
Opportunity
SUBJECT: 410 W Wayne RFP Submission Recommendations
Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res.
* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the
authorization of the expenditure of such funds shall be void and of no effect.
PURPOSE OF REQUEST: Recommendation for Staff to enter direct negotiations for the sale of 410 W Wayne with
Stoic Distillery
SPECIFICS: On August 22nd, 2024, the Redevelopment Commission opened bids in response to a Request for
Proposals for the reuse of 410 W Wayne in downtown South Bend. In total, four (4) bids were submitted for
consideration. RDC Staff have reviewed all bids as well as additional follow-up information requested of some of
the bidders.
After reviewing all four bids and supplementary information, RDC staff recommend drafting a formal Purchase
Agreement with Stoic Distillery for the sale of 410 W Wayne using the base terms of the August 22nd bid
submission with the final use of the property intended as a full production distillery and tasting room with
outdoor seating and recreational space, and a commercial kitchen. The recommendation would only be for the
sale of the 410 W Wayne parcel and not the larger RDC owned parking lot immediately adjacent to the south.
The proposal submitted by Stoic Distillery, as well as subsequent follow up information, demonstrates a clear
business plan, secured financing, and an ownership group with experience successfully operating similar
endeavors. If the Redevelopment Commission confirms this recommendation, RDC staff will enter direct
negotiations with Stoic Distillery with the intention of soon after bringing a formal and finalized Purchase
Agreement to the Redevelopment Commission.
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
10-10-2024