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South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />D ATE : 1/21/25 <br />FROM: Erik Glavich, Director of Growth & Opportunity <br />SUBJECT: Development Agreement (Nexus Center) <br />Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res. <br />* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the <br />authorization of the expenditure of such funds shall be void and of no effect. <br />PURPOSE OF REQUEST: Development Agreement for the rehabilitation of property located at 3607 S. Main Street <br />(The Nexus Center) <br />SPECIFICS: The Commission will consider a Development Agreement with The Nexus Center LLC, which is the <br />operating entity for the property known as The Nexus Center, and Cultivating Life Clinic Incorporated, which is a <br />non-profit organization operating out of the property. Both entities are under the common ownership of Pastor <br />David Buggs and Dr. LaRissa Chism Buggs. The Development Agreement, if approved, would support the final <br />phase of the Nexus Center rehabilitation project. <br />This Agreement specifies that (1) the Funding Amount provided by Redevelopment Commission will not exceed <br />$300,000 and (2) the Private Investment by the Developer will be no less than $745,000. The RDC support would <br />assist in the purchase and installation of an elevator, which the building currently does not have. An elevator <br />would enable the services provided at the Nexus Center to be expanded to all levels of the building. The <br />developer commits to completing the project by December 31, 2026. <br />This new Development Agreement follows an earlier development agreement between the Commission and The <br />Nexus Center LLC, which was approved in August 2021 and subsequently amended in September 2022 and <br />October 2023. The Commission previously provided $525,000 in support for the Nexus Center rehabilitation <br />project. That earlier agreement included a private investment commitment of no less than $1,600,000, and the <br />developer met its obligations. <br />When the earlier agreement is accounted for, and if the Commission were to approve the new Development <br />Agreement, then the combined RDC support for the Nexus Center rehabilitation project would be $845,000 and <br />the combined private investment commitment would be $2,345,000. <br />_________________________Pres/V-Pres <br />ATTEST: __________________Secretary <br />Date: ____________________ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />January 23, 2025 <br />