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HomeMy WebLinkAboutRedevelopment Commission Agenda & Packet 05.08.25 South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Agenda Regular Meeting, May 8, 2025 – 9:30 a.m. Council Chambers 4th Floor or https://tinyurl.com/RDC-2025-2T 1. Roll Call 2. Approval of Minutes A. Minutes of the Regular Meeting of April 24, 2025 3. Approval of Claims A. No Claims Allowances 4. Old Business A. None 5. New Business A. River West Development Area 1. Opening Proposals (Main Street Housing RFP) 2. Agreement to Release Easement (JC Hart) B. River West, River East, South Side, & West Washington Development Areas 1. Budget Request (Rebuilding Our Streets 2025) 6. Progress Reports A. Tax Abatement B. Common Council C. Other 7. Next Commission Meeting Thursday, May 22, 2025, 9:30 a.m. at Council Chambers 4th Floor CITY OF SOUTH BEND REDEVELOPMENT COMMISSION SOUTH BEND REDEVELOPMENT COMMISSION MINUTES April 24, 2025, at 9:30 a.m. BPW Conference Room, 13th Floor, County-City Building https://tinyurl.com/RDC-2025-4T The South Bend Redevelopment Commission was called to order at 9:33 a.m. President Troy Warner presiding. 1. ROLL CALL Members Present: Troy Warner, President David Relos, Vice President Eli Wax, Secretary Ophelia Gooden-Rodgers, Commissioner Marcus Ellison, Non-Voting Advisor Members Virtually: Gillian Shaw, Commissioner Legal Staff: Sandra Kennedy, Corporation Council - Virtual Danielle Campbell Weiss, Senior Asst. City Attorney Redevelopment Staff: Caleb Bauer, Exec. Director, DCI Sarah Schaefer, Deputy Director, DCI Erik Glavich, Director of Growth and Opportunity, DCI Rosa Tomas, Director of Finance, DCI Joseph Molnar, Asst. Dir. of Growth and Opp., DCI Blake Nipper, Intern, DCI Laura Hensley, Board Secretary, DCI Others Present: Leslie Biek, Assistant City Engineer Tina Patton, 707 Sherman Ave. Matt Barrett, 110 S. Niles Ave. Greg Swiercz, SB Tribune Tom Everett, Barnes & Thornburg LLP CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 2 2. Approval of Minutes A. Approval of Minutes of the Regular Meeting of Thursday, April 10, 2025 The motion was made by David Relos to approve, second by Eli Wax. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved the minutes of the regular meeting of April 10, 2025. 3. Approval of Claims A. Claims Allowances April 2, 2025 The motion was made by David Relos to approve, second by Eli Wax. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved the claims allowances of April 2, 2025. B. Claims Allowances April 15, 2025 The motion was made by David Relos to approve, second by Eli Wax. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 3 The motion carried; the Commission approved the claims allowances of April 15, 2025. 4. Old Business A. None 5. New Business A. River West Development Area 1. Amendment to Budget Request (Riverfront West Urban Neighborhood Development) Leslie Biek, Assistant City Engineer, introduced a $250,000 amendment to fund the complete design and bid documents for the Western Avenue improvements project. This project encompasses storm sewer, sanitary sewer, water main, and streetscape design elements. Notably, this section of Western Avenue was not part of the initial request. Vice President Relos asked the specific location of Western Ave. and Ms. Biek confirmed it will tie in near the Post Office. Secretary Wax inquired about what had changed since the first request and Ms. Biek stated that initially, we planned to simply pave it and use it as an access road. However, now we're going to include the full sidewalk curb work and connect all the utilities, transforming it into a complete road. This change will be reflected in the design and bidding documents. These documents, which we're preparing to bid in June, will upgrade the specifications from 10% to the complete project. The motion was made by David Relos to approve, second by Ophelia Gooden-Rodgers. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved the Amendment as presented on April 24, 2025. 2. Resolution No. 3637 (Authorizing the Issuance of Tax Increment Revenue Bonds for Drewry’s/Portage/Elwood) CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 4 Joseph Molnar, Assistant Director of Growth and Opportunity, presented agenda items 5.A.2-4. Resolution Nos. 3637 & 3638 are related to the authorization of bonds for the RAF loan. Just to provide some background again, the Residential Infrastructure Fund Program, managed by the Indiana Finance Authority (IFA), is specifically designed to support residential housing infrastructure construction and assist municipalities in encouraging new residential development. The program primarily targets smaller municipalities, but 30% of the funds are allocated for cities and municipalities with populations greater than 50,000, including South Bend. Essentially, the program offers a 20-year term low-interest loan, with the interest rate determined at closing. The interest rate will not exceed 5.5%, and we hope it will be a couple of points lower. Funds are provided through the IFA's purchase of redevelopment district bonds, which are then issued by the RDC. This funding is mainly set aside for site preparation and infrastructure work to incentivize residential housing. In December 2024, the city applied for $2.57 million and was approved by the IFA in January. We committed to 110 housing units at the Drewry’s/Portage Elwood sites, with two-thirds being single-family homes and one-third multi-family units. The RIF loan will fund environmental remediation, public utilities installation, demolition, and infrastructure support. Interest payments start within six months of closing, estimated at $100,000 annually, with principal payments beginning within 12 months after project completion. Tax revenue from the new housing will help repay the loan from River West TIF. The Drewry’s/Portage Elwood project is big and has taken years to get to this point. It'll take more years to finish. Right now, we're cleaning up the environment and demolishing old buildings to prepare for new development. This area has great potential for the northwest side of the city. We need to build public utilities, which will cost about $6 million. To fund this large project, we're using multiple sources to reduce the city's financial burden. The EPA has already spent $2 million on demolition, which helped a lot. We've applied for a $3.5 million grant from READI 2.0, which is tentatively approved. The city must match this amount, and the RIF loan will count towards that match. We're using various programs to fund this project, not just relying on River West TIF. Resolution No. 3637 allows us to issue bonds up to $2.57 million to cover project costs. These bonds will be paid back with tax increment from the River West Development area and authorize the city to enter into a financial assistance agreement with the IFA. Resolution No. 3838 allocates the bond sale proceeds to fund the project costs, including related expenses and the cost of issuing the bonds. If the RDC approves both resolutions today, RDC staff will present a resolution to the Common Council on May 12th to approve the CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 5 issuance of TIF revenue bonds. This would be the final public step needed. Mr. Molnar also noted the Public Hearing will follow. Vice President Relos asked about when the IEDC Board approval would happen for the grant. Caleb Bauer, Executive Director of Community Investment, stated possibly this summer. Commissioner Gooden-Rodgers inquired about the likelihood of us receiving the grant. Mr. Bauer stated that we don't have an exact date for the approval from the IEDC board for the grant, but the Ready 2.0 blight and redevelopment funds are administered by the state of Indiana and IEDC. These funds come from the Lilly Endowment. The statewide READI 2.0 blite program has $500 million, and an additional $250 million was contributed to other state-run programs by Lilly Endowment. This means the funds are not dependent on the state budget. Although the IEDC board still needs to sign off, we are confident we will get the contract. We're just sharing that it hasn't been signed yet, but we're working towards that. Secretary Wax asked, “Do you have an estimate of how much additional funding is needed to get the project ready for development”? Mr. Molnar stated that we don't have a specific number right now, but we estimated $6 million for public utilities. With $3.5 million from the grant and $2.5 million from the loan, we're close to that amount but not quite there. Sarah Schaefer, Deputy Director of Community Investment, stated we're not aware of any other major expenses needed to prepare the project, though it's early stages and costs can increase. We believe $6 million should cover most of what we need, but we'll monitor any additional funding requirements. Commissioner Shaw inquired about the $3.5 million from the Lilly Endowment for READI 2.0, does it have the same matching requirements as the rest of READI 2.0? Is it true that this loan can serve as a match? Are there other private investment requirements we need to meet to unlock these additional funds? Mr. Bauer explained yes, our submission included the capital stack for the development site, using two nonprofit developers: South Bend Heritage and Intend Indiana. However, until we have signed contracts and development agreements, these details aren't finalized. We're still negotiating, but we aim to secure the loan quickly. The IFA is eager to move forward, and we feel confident about closing the loan and continuing negotiations while signing the contract with the IEDC. We have agreements coming before the Commission that will solidify all private investments related to this site. Matt Barrett asked where the remaining $1 million will come from and will we satisfy the 6-month term from the bond agreement. Caleb CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 6 Bauer stated that, we plan to cover the remaining matches through a new allocation area, either via financing or future increment generated by the project. We're already designing the infrastructure and plan to proceed with the demolition of the Elwood Shopping Plaza, which is included in the IFA loan scope. The bid specifications are being prepared, and we're on track to meet our contractual requirements with the IFA for commencement. Demolition will count as the start of work for the 6-month term. President Warner spoke in favor of the project. The motion was made by Eli Wax to approve, second by David Relos. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved Resolution No. 3637 as presented on April 24, 2025. 3. Public Hearing Concerning the Appropriation of Proceeds of the Tax Increment Revenue Bond A notice was published in the South Bend Tribune on April 11, 2025, regarding the public hearing concerning appropriation of proceeds of the redevelopment district of the City of South Bend, Indiana tax increment revenue bonds A Public Hearing regarding the Appropriation of Proceeds of the Tax Increment Revenue Bond was opened to the public for comments and considerations. No comments were made from the public. The Public Hearing was closed. 4. Resolution No. 3638 (Appropriating the Proceeds of Tax Increment Revenue Bonds for Drewry’s/Portage Elwood) The motion was made by Troy Warner to approve, second by David Relos. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 7 The motion carried; the Commission approved Resolution No. 3638 as presented on April 24, 2025. B. River East Development Area 1. Disposition Process Overview Joseph Molnar, Assistant Director of Growth and Opportunity, presented an overview of the disposition process under Indiana Code 36-7-14. He detailed steps 1-8 and explained all common terms. 2. Bid Specifications for Disposition of Property (403 E Madison) Joseph Molnar, Assistant Director of Growth and Opportunity, presented agenda items 5.B. 2-4 together. In November, 2024, the purchase agreement for the property at 403 E. Madison, approximately 3.39 acres, was finalized. The building has three floors above ground totaling 60,000 square feet, and a partial basement of about 10,000 square feet. The East Bank Learning Center, a childcare center for children aged six months to about five years, is an active tenant with a lease. The minimum bid for the property is $1,494,000, based on the average of two appraisals. Bids are due by May 22nd at 9:00 AM, with a meeting at 9:30 AM to open the bids for the Redevelopment Commission. Bid specifications emphasize compatibility with the surrounding neighborhood and the River East development plan, as the property is in the River East TIF. Approval is needed today by the Redevelopment Commission for the bid specification, notice of intended disposition of property, and Resolution No. 3635 for the property's disposition. Secretary Wax asked how much we paid for the building and whether we have made any improvements. Mr. Molnar stated that we paid $300,000 and have not made any improvements. Commissioner Ellison asked about the lease for the childcare facility and Mr. Molnar confirmed that the childcare center has a lease for three or four years, with an annual opt-out clause. If either party wishes to terminate the lease, they must provide 12 months' notice to the other party. Currently, RDC staff recommends to the Commission not to end the lease. Matt Barrett asked if there are any plans to market the property beyond the City's website and newspaper. Caleb Bauer stated that we always follow the Indiana Code process, and if there are no inquiries from the initial process, they can then explore further marketing options. Historically, the Commission has followed the disposition process first. Once that concludes, the Commission may issue an RFP. RFP is more CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 8 actively marketed as it seeks specific types of investment in the property, whereas the disposition process is more open-ended. The motion was made by Eli Wax to approve, second by David Relos. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved the Bid Specifications as presented on April 24, 2025. 3. Notice of Intended Disposition of Property (403 E Madison) The motion was made by Eli Wax to approve, second by Troy Warner. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved the Notice as presented on April 24, 2025. 4. Resolution No. 3635 for Disposition of Property (403 E Madison) The motion was made by Eli Wax to approve, second by David Relos. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved Resolution No. 3635 as presented on April 24, 2025. 5. Bid Specifications for Disposition of Property (1201 Northside) CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 9 Joseph Molnar, Assistant Director of Growth and Opportunity, presented agenda items 5.B.5-7 together. In April 2024, the Redevelopment Commission and the YMCA of Greater Michiana entered into a donation agreement, transferring the property to the Commission while simultaneously signing a lease for the YMCA at the Downtown Leighton location. The property, located at 1201 Northside, consists of seven parcels totaling just under 6 acres. All existing structures have been demolished except for one pavilion, which is being cleared. The average of two appraisals for this property was $576,500, setting the minimum bid at this amount. Bids are due by May 22nd at 9:00 AM, with the RDC meeting immediately following to open the bids. Bid specifications emphasize compatibility with the surrounding neighborhood, including the farmers market location, adjacent established neighborhood, and the River East Development plan, as the property is in the River East TIF. Approval is needed today by the Commission for the bid specifications, notice of intended disposition, and Resolution 3636 for the property's disposition. Commissioner Shaw asked if Mr. Molnar could provide an example on what compatibility of the surrounding neighborhood means or what an example would look like. Mr. Molnar explained that the bid specifications emphasize compatibility. This means ensuring any new roads connect to the existing street grid and considering the property's proximity to the Riverwalk. We want proposed uses to be compatible with the Riverwalk, so a self-storage facility, for example, would not be suitable. Additionally, the property is next to an established neighborhood, so we want to avoid uses that could harm the neighborhood. The motion was made by Eli Wax to approve, second by Ophelia Gooden-Rodgers. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved the Bid Specifications as presented on April 24, 2025. 6. Notice of Intended Disposition of Property (1201 Northside) CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 10 The motion was made by Eli Wax to approve, second by Troy Warner. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved the Notice as presented on April 24, 2025. 7. Resolution No. 3636 for Disposition of Property (1201 Northside) The motion was made by Eli Wax to approve, second by David Relos. On the motion: • Troy Warner, President: Yes • David Relos, Vice President: Yes • Eli Wax, Secretary: Yes • Gillian Shaw, Commissioner: Yes • Ophelia Gooden-Rodgers, Commissioner: Yes The motion carried; the Commission approved Resolution No. 3636 as presented on April 24, 2025. 6. Progress Reports A. Tax Abatement None B. Common Council None C. Other None CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – April 24, 2025 11 7. Next Commission Meeting Thursday, May 8, 2025, 9:30 a.m. Council Chambers on the 4th Floor. 8. Adjournment Thursday, April 24, 2025, 10:27 a.m. ______________________________ ______________________________ Eli Wax, Secretary Troy Warner, President South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE : 5/1/25 FROM: Erin Michaels – Property Development Manager SUBJECT: Opening of Main Street Housing RFP Proposals 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: Public Opening of Main Street Housing Request for Proposal Submissions SPECIFICS: On January 9th, the Redevelopment Commission approved a Request for Proposal (RFP) for a new housing project in downtown South Bend adjacent to the Morris Performing Arts Center. The RFP set 12:00pm local time, April 24, 2025 as the due date for all submissions. Any and all submissions received by that time will be opened publicly at the May 8, 2025 RDC meeting. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE: May 5, 2025 FROM: Danielle Weiss, Senior Assistant City Attorney SUBJECT: Agreement to Release Easement 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: Approval of the Release of Easement Agreement benefitting the River Glen Office Park site. SPECIFICS: On January 9, 2025 the Redevelopment Commission (“RDC”) and JC Hart Company (the “Developer”) entered into an Economic Development Agreement (the “Development Agreement”). The Development Agreement committed both the RDC and the Developer to certain commitments in relation to a transformational project on the western bank of the St. Joseph River in downtown South Bend. The project site is just north of the former River Glen Office Park. The RDC acquired the office park on May 6, 2024, and as the owner, is a beneficiary of a non-exclusive ingress and egress easement for pedestrian and vehicular access to and from Wayne Street/Jefferson Boulevard (the “Easement”). In partnership with the Developer’s intention to develop the Riverwalk Project, the RDC has agreed through the Development Agreement (which was amended on March 13, 2025 to provide further detail of the RDC’s commitments) to construct and dedicate certain public roadways, sidewalks, and related improvements paid for substantially through a READI 2.0 grant from the State of Indiana. These roadway improvements, once completed, will provide access to and from the River Glen Office Park. On March 13, 2025, the RDC, as property owner of the River Glen Office Park, approved a certain Agreement to Suspend and Release Easement which provided RDC would (i) suspend all use of the Easement during the development of the Riverwalk Project and (ii) release and relinquish the Easement upon the roadway completion and opening. Since that time, this document has been held in escrow, pending the closing of the real estate transaction by which the Developer would acquire the Developer Property. This prior agreement has not yet been recorded. The Developer has recently requested the prior approved document be superseded by a new document titled “Release of Easement,” which will result in the release of the easement occurring sooner. Instead of temporarily suspending the easement rights during construction and fully releasing the easement once construction is completed, the easement would be fully released now. If approved, this new Release of Easement would replace the prior agreement, and the prior agreement would become null and void. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana The need to release the easement was always at the center of the Developer’s needs for the Development Project. In this new version, in addition to causing the release of easement to occur sooner, this revised version will also (i) help to explain to the Developer’s construction lender what is happening with the easement, (ii) provide clarity to title records; and (iii) provide clarity/administrative ease to the parties. In exchange for RDC’s agreement to execute this new Release of Easement, the Developer is expressly committing to include in its Plans and Specifications for the Project a commitment to dedicate all necessary rights-of-way on the Project Site to enable the development of a public street and public utilities to serve the site and connect the neighboring properties, including the Commission’s Property. This was already the intended plan, but this agreement memorializes and confirms that commitment. During construction, the River Glen Office site will still have access to and from Monroe and Columbia Streets. As a result of the full development, the River Glen Office Park will obtain substantially improved access to Jefferson Boulevard/Wayne Street in the form of a newly built public roadway and sidewalks. 1 AGREEMENT TO RELEASE EASEMENT THIS AGREEMENT TO RELEASE EASEMENT (this “Agreement”) is made and entered into effective as of May 5, 2025 (the “Effective Date”), by and between J.C. Hart Company, Inc., an Indiana corporation (“Developer”) and the City of South Bend, Department of Redevelopment, acting by and through its governing body, the South Bend Redevelopment Commission (“Commission”) (each, a “Party,” and collectively, the “Parties”). BACKGROUND A. Developer and Commission are parties to a certain Economic Development Agreement dated January 9, 2025, as amended (the “Development Agreement”), which sets forth various rights and obligations related to development of the Project Site for the Project (as defined in the Development Agreement, as may be amended from time to time). Terms used but not otherwise defined herein are as defined in the Development Agreement. B. The Commission owns certain property located to the south of the Project Site, commonly known as 501 E Monroe, 501 E. Monroe, 404 Columbia, 350 Columbia, and 348 Columbia in South Bend (the “Commission Property”) and through such ownership is the beneficiary of a certain non-exclusive easement over the Project Site for pedestrian and vehicular ingress and egress to and from Wayne Street/Jefferson Boulevard (the “Easement”). C. The Development Agreement contemplates the creation of certain Plans and Specifications for the Project, which will include details regarding the construction of a new road and sidewalks through the Project Site. D. It is the intent of the Parties that the Plans and Specifications for the Project will include the Developer’s commitment to dedicate any necessary rights-of-way on the Project Site in order to allow for the development of public street and public utilities to serve the site and connect to neighboring properties. E. In order for the Developer to proceed with its Project, it must first obtain a release of the Easement from the Commission, in the form attached hereto as Exhibit 1. F. The Parties now desire to enter into this Agreement to memorialize that the Commission’s execution of the Release of Easement is being done in exchange for the Developer’s commitment to dedicate necessary rights-of-way on the Project Site that will enable the development of a public street and public utilities to serve the site and connect to the neighboring properties, including the Commission’s Property. NOW, THEREFORE, in consideration of the background above, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Commission and Developer agree as follows: 1. Background Provisions. The background provisions above are incorporated into the body of this Agreement as if fully set forth herein and made a part hereof. A - 2 2. Developer’s Commitments. As a material inducement for the Commission’s execution of the Release of Easement, Developer hereby agrees to include in its Plans and Specifications for the Project a commitment to dedicate of all necessary rights-of-way on the Project Site to enable the development of a public street and public utilities to serve the site and connect to the neighboring properties, including the Commission’s Property. The Developer understands that failure to include such details in its Plans and Specifications for the Project will result in the Commission’s rejection of the Plans and Specifications through the process specified in the Development Agreement. 3. Release of Easement. As a material inducement for the Developer’s Commitments herein, the Commission hereby approves of the Release of Easement substantially in the form attached hereto and authorizes the President of the Commission and Secretary of the Commission to execute and attest, respectively, said Release of Easement in the form attached hereto, with such changes as the President and Secretary shall approve, such approval to be evidenced by the execution and attestation thereof. 4. Prior Agreement to Suspend and Release Easement. Upon execution of the Release of Easement, the Parties agree that the certain Agreement to Suspend and Release Easement executed by the Commission on March 13, 2025 shall become null and void. 5. Signatures. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The Parties hereto may execute and deliver this Assignment by forwarding facsimile, e-mail, or other means of copies of this Agreement showing execution by the Party sending the same, and the Parties agree and intend that such signature shall have the same effect as an original signature and that the Parties shall be bound by such means of execution and delivery. [Signature Page Follows] A - 3 IN WITNESS WHEREOF, the undersigned have executed this Agreement to Release Easement as of the Effective Date first above written. SOUTH BEND REDEVELOPMENT COMMISSION By: Printed: Troy Warner, President By: Printed: Eli Wax, Secretary J.C. HART COMPANY, INC. By: Printed: John C. Hart, Jr., Chairman A - 4 Exhibit 1 Release of Easement A - 5 Cross Reference: Instrument No. 2024-10901 (Commission Deed) Instrument No. 8216846 (1982 Declaration) Instrument No. 0130069 (2001 Relocation) RELEASE OF EASEMENT THIS RELEASE OF EASEMENT (hereinafter the “Release”) is made effective this ____ day of ______________, 2025 (the “Effective Date”) by the City of South Bend, Indiana, Department of Redevelopment by and through its governing body, the South Bend Redevelopment Commission (hereinafter the “Commission”). WITNESSETH: WHEREAS, the Commission acquired certain real estate more particularly described in Exhibit A attached hereto and incorporated herein (the “Commission Real Estate”) pursuant to a certain Special Warranty Deed dated May 6, 2024 and recorded May 20, 2024 as Instrument No. 2024-10901 in the Office of the Recorder of St. Joseph County, Indiana; WHEREAS, the Commission Real Estate is the beneficiary of a certain non-exclusive easement over the real estate more particularly described in Exhibit B attached hereto and incorporated herein for pedestrian and vehicular ingress and egress to and from Wayne Street/Jefferson Boulevard (the “Easement”) granted by Crowe LLP, an Indiana limited liability partnership, formerly known as Crowe, Chizek & Company, an Indiana partnership (“Crowe”), pursuant to a certain Declaration and Grant of Easement for Pedestrian and Vehicular Egress dated November 3, 1982, and recorded November 3, 1982 as Instrument No. 8216846 in the Office of the Recorder of St. Joseph County, Indiana (the “Declaration”); WHEREAS, Crowe relocated the Easement pursuant to a certain Relocation of Easements dated June 25, 2001 and recorded June 27, 2001, as Instrument No. 0130069 purporting to relocate the Easement to the area described therein (the “Current Easement Area”); WHEREAS, the Commission acknowledges and agrees that notwithstanding anything to the contrary in the Declaration, the Current Easement Area is the location of the Easement; and WHEREAS, the Commission wishes to disclaim, waive, terminate, release and relinquish any and all interests or rights it may have to use the Easement and to document the same. NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the Commission promises, agrees and covenants as follows: 1. Incorporation of Recitals. The foregoing preambles, recitations and A - 6 definitions are made a part hereof as though such were fully set forth herein. 2. Release of Easement. The Commission hereby disclaims, waives, terminates, releases and relinquishes any and all interests or retained easement rights it has or may have in and to the Easement, and any and all rights of the Commission pursuant to the Declaration shall be deemed released and terminated and of no further force or effect. 3. Authority. The undersigned executing this Release certifies that he or she is/are duly authorized and empowered to execute and deliver this Release on behalf of the Commission. [SIGNATURE ON THE FOLLOWING PAGE] S - 1 SIGNATURE PAGE TO RELEASE OF EASEMENT City of South Bend, Department of Redevelopment, by and through its governing body, the South Bend Redevelopment Commission By:_______________________________ Troy Warner, President ATTEST: By: _______________________ Eli Wax, Secretary S - 2 NOTARY PAGE TO RELEASE OF EASEMENT STATE OF INDIANA ) ) SS: COUNTY OF ) Before me, a Notary Public in and for said County and State, personally appeared Troy Warner and Eli Wax, known to me to be the President and Secretary, respectively, of the South Bend Redevelopment Commission who, after having been duly sworn, acknowledged the execution of the foregoing Release. WITNESS, my hand and Notarial Seal this _____ day of _____________________, 2025. __________________________________________ ( ) Notary Public My Commission Expires: My County of Residence: _________________________ ______________________________ A - 1 EXHIBIT A Commission Real Estate PARCEL I: A part of the West Half of Section 12, Township 37 North, Range 2 East, also being a part of Block 8 of the recorded Plat of River Bend Addition, City of South Bend, St Joseph County, Indiana, described as follows: Commencing at the intersection of the Northeastern boundary of Columbia Street and the Eastern boundary of Western Avenue; thence along said Northeastern boundary South 69°32'51" East 95.25 feet; thence Southeasterly 192.83 feet along an arc to the right having a radius of 421.97 feet and subtended by a long chord having a bearing South 56"27'21" East and a length of 191.16 feet; thence North 46°38'09' East 155.47 feet; thence North 20°00'00" West 120.00 feet; thence North 70°00'00" East 217.00 feet; thence South 25°39'11" East 215.00 feet to the point of beginning; thence South 52°00'00" West 245.00 feet; thence South 38°00'00" East 155.00 feet; thence North 52°00'00" East 211.07 feet; thence North 25°39'11" West 158.67 feet to the point of beginning. PARCEL II: A part of Block 8 of the recorded Plat of River Bend Addition in Section 12, Township 37 North, Range 2 East, in the City of South Bend, St Joseph County, Indiana, described as follows: Commencing at the intersection of the East right of way line of Columbia Street and the North right of way line of Monroe Street as shown in said Plat of River Bend Addition; thence North 0°30'18" West along said East right of way line of Columbia Street 270.00 feet; thence North 89°29'42" East 75.00 feet; thence South 39°35'12" East 43.10 feet; thence North 52°00'00" East 113.02 feet to the point of beginning; thence North 38°00'00" West 255.00 feet; thence North 52°00'00" East 33.00 feet; thence South 38°00'00" East 155.00 feet; thence North 52°00'00" East 211.07 feet; thence South 25°39'11" East 29.45 feet; thence South 65°42'29" West 10.00 feet; thence South 4°39'38" East 40.00 feet; thence South 70°06'30' East 47.50 feet; thence South 52°00'00" West 231.27 feet to the point of beginning. PARCEL III: Non-Exclusive Easements for Pedestrian and Vehicular Egress by and between St Joseph River Road Development Corporation, Crowe, Chizek & Company, American Land Trust, First Bank and Trust Company of South Bend, West Bank Properties, Columbia Plaza Associates, River Glen Office Plaza Associates, and the St. Joseph Bank and Trust Company all of which were dated November 3, 1982 and recorded November 3, 1982 as Document Number 8216846, 8216847, 8216849, and 8216850 all in the Office of the Recorder of St. Joseph County, Indiana. PARCEL IV: A part of Block 8 of the recorded Plat of River Bend Addition, City of South Bend, St. Joseph County, Indiana, described as follows: Commencing at the intersection of the East right of way line of Columbia Street and the North right of way line of Monroe Street; thence North 89°38'42" East along said North right of way of Monroe Street 250.00 feet; thence North 0°21'18" West 55.00 feet; thence North 39°35'12" West 67.66 feet to the point of beginning; thence continuing North 39°35'12" West 167.06 feet; thence North 52°00'00" East 344.29 feet; thence South 70°06'30" East 2.50 feet; thence South 38°42'21" East 164.89 feet; thence South 52°00'00" West 343.08 feet to the point of beginning. PARCEL V: A non-exclusive easement for above real estates to and from Monroe Street in the City of South Bend, Indiana, as set out in Declaration and Grant of Easement, dated October 22, 1980, between River Glen Office Plaza Associates (as granter of the easement) and St. Joseph A - 2 River Bend Development Corporation, St. Joseph Bank and Trust Company and Crowe, Chizek and Company (owners of the various "dominant parcels" described therein) recorded October 22, 1980 as Document Number 8018357 in the Office of the Recorder of St Joseph County, Indiana, and being, in particular, the easement described as "Access Easement'' in Exhibit E thereto. PARCEL VI: A parcel in the Southeast Quarter and the Southwest Quarter of Section 12, Township 37 North, Range 2 East, also being a part of Block 8 of the recorded Plat of River Bend Addition to the City of South Bend, St Joseph County, Indiana, described as follows: Commencing at the intersection of the East right of way line of Columbia Street and the North right of way line of Monroe Street; thence North 89°38'42" East along said North right of way of Monroe Street 250.00 feet to the point of beginning; thence North 0°21'18" West 55.00 feet; thence North 39°35'12" West 67.66 feet; thence North 52°00'00" East 343.09 feet; thence South 38°42'21" East 72.09 feet; thence South 0°30'18" East 263.46 feet to the North right of way line of Monroe Street; thence 61.24 feet Westerly on said right of way line on a curve to the left having a radius of 614.21 feet and subtended by a long chord 61.18 feet in length and having a bearing of North 87°30'03" West; thence South 89°38'42" West along said North right of way line of Monroe Street 213.10 feet to the point of beginning. PARCEL VII: An easement for ingress and egress on, over and across a parcel in the Southeast Quarter of Section 12, Township 37 North, Range 2 East, also being a part of Block 8 of the recorded Plat of River Bend Addition to the City of South Bend, St Joseph County, Indiana, described as follows: Commencing at the intersection of the East right of way line of Columbia Street and the North right of way line of Monroe Street; thence North 0°30'18" West along the East right of way line of Columbia Street a distance of 293.20 feet to the point of beginning; thence continuing on said right of way Northward along a curve to the left, with a radius of 421.97 feet and subtended by a long chord with a bearing of North 1°52'27'' West 27.60 feet; thence North 75°20'48" East 77.98 feet; thence South 39°35'12" East 265.63 feet; thence South 52°00'00" West 24.01 feet; thence North 39°35'12" West 246.44 feet; thence South 75°20'48" West 70.13 feet to the point of beginning. PARCEL VIII: A part of the West Half of Section 12, Township 37 North, Range 2 East, also being a part of Block 8 of the unrecorded Plat of River Bend Addition, City of South Bend, St Joseph County, Indiana, described as follows: Commencing at the intersection of the East boundary of Fellow Street projected North and the northern boundary of Monroe Street; thence South 89°38'42n West along said northern boundary a distance of 78.14 feet to the true point of beginning; thence South 89°38'42" West along the northern boundary of Monroe Street a distance of 250 feet to the East boundary of Columbia Street; thence North 0°30'18. West along said East boundary a distance of 270 feet; thence North 89° 38'42" East a distance of 75 feet; thence South 39°35'21" East a distance of 277.57 feet; thence South 0°30'18. East a distance of 55 feet to the point of beginning. CONFIRMATION AGREEMENT PAGE 3 EXHIBIT B Real Estate Lot 1 and Lot 2 in the Crowe Chizek Second Minor Subdivision, as per plat thereof, recorded May 24, 2024 as Document Number 2024-11404 in the Office of the Recorder of St. Joseph County, Indiana. South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE : 5/6/2025 FROM: Kara M. Boyles, City Engineer SUBJECT: Budget Request #1 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: 2025 Annual Paving Program Budget Request SPECIFICS: This is a first request for funding from the River West, West Washington, River East and South Side TIF Districts to support the City’s 2025 Annual Paving Program. These investments will directly support street resurfacing and reconstruction projects within each TIF boundary, improving road conditions, enhancing safety, and supporting continued neighborhood revitalization. TIF funding is a critical component of the City’s overall paving strategy and allows us to extend the impact of limited local resources while aligning with redevelopment goals. Funding is requested from each TIF District as follows: West Washington Development Area $400K River East Development Area $1.5M South Side Development Area $1.0M River West Development Area $1.0M _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION