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HomeMy WebLinkAboutRedevelopment Commission Agenda & Packet 06.12.25 South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Agenda Regular Meeting, June 12, 2025 – 9:30 a.m. BPW Conference Room 13th Floor or https://tinyurl.com/RDC-2025-2T 1. Roll Call 2. Approval of Minutes A. Minutes of the Regular Meeting of May 22, 2025 3. Approval of Claims A. Claims Allowance May 20, 2025 B. Claims Allowance May 27, 2025 4. Old Business A. None 5. New Business A. River West Development Area 1. Resolution No. 3643 (Regarding the Establishment of a Residential Housing Development Program) 2. Access Agreement (Stoic Beverages) 3. Purchase Agreement for 2018-2020 S. Main St. (KCG Development LLC) 4. Opening of Bids (4022 Old Cleveland Rd.) 5. Budget Request (Dylan Dr. Lighting Improvements) B. River East Development Area 1. Budget Request (Leeper Park Tennis Reconstruction Project) C. Redevelopment General Fund (a.k.a. Pokagon Fund) 1. Budget Request for System Development Charges (Boys and Girls Clubs) 2. Budget Request (Advantix Development Corp.) D. Administrative 1. Resolution No. 3642 (Determining Tax Increment to be Collected in Year 2026) South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Page 2 6. Progress Reports A. Tax Abatement B. Common Council C. Other 7. Next Commission Meetings Exec. Session - Thursday, June 12, 2025, immediately following this meeting at DCI Conference Room 14th Floor Regular - Thursday, June 26, 2025, 9:30 a.m. at BPW Conference Room 13th Floor CITY OF SOUTH BEND REDEVELOPMENT COMMISSION SOUTH BEND REDEVELOPMENT COMMISSION MINUTES May 22, 2025, at 9:30 a.m. Council Chambers 4th Floor, County-City Building https://tinyurl.com/RDC-2025-4T The South Bend Redevelopment Commission was called to order at 9:31 a.m. President Troy Warner presiding. 1. ROLL CALL Members Present: Troy Warner, President David Relos, Vice President Eli Wax, Secretary Gillian Shaw, Commissioner Ophelia Gooden-Rodgers, Commissioner Members Absent: Marcus Ellison, Non-Voting Advisor Legal Staff: Danielle Campbell Weiss, Senior Asst. City Attorney Redevelopment Staff: Caleb Bauer, Exec. Director, DCI Erik Glavich, Director of Growth and Opportunity, DCI Rosa Tomas, Director of Finance, DCI - Virtual Joseph Molnar, Asst. Dir. of Growth and Opp., DCI Erin Michaels, Property Development Manager, DCI Laura Hensley, Board Secretary, DCI Others Present: Greg Swiercz, South Bend Tribune Regina Emberton, 130 S. Main St. Chloe Bartz, Intern in Legal Department David Sieradzki, Century Builders Jim Sieradzki, Century Builders CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – May 22, 2025 2 2. Approval of Minutes A. Approval of Minutes of the Regular Meeting of Thursday, May 8, 2025 Upon a motion by David Relos for approval, second by Ophelia Gooden- Rodgers, the motion carried unanimously; the Commission approved the minutes of the regular meeting of May 8, 2025. 3. Approval of Claims A. Claims Allowances April 29, 2025 Upon a motion by Ophelia Gooden-Rodgers for approval second by Troy Warner, the motion carried unanimously; the Commission approved the claims allowances of April 29, 2025. B. Claims Allowances May 8, 2025 Upon a motion by Ophelia Gooden-Rodgers for approval second by Troy Warner, the motion carried unanimously; the Commission approved the claims allowances of May 8, 2025. 4. Old Business A. None 5. New Business A. River West Development Area 1. Purchase Agreement for 802-812 S. Lafayette Blvd. (ChoiceLight, Inc.) Erin Michaels, Property Development Manager, presented a purchase agreement of three (3) parcels located at 802-812 S Lafayette Blvd that were put through disposition on July 14, 2016 and received no bids on August 11, 2016. The proposed purchase agreement would be between RDC and ChoiceLight, Inc. with these terms. • Purchase price of $15,750.00 • Due Diligence Period: Sixty (60) days following approval of Agreement • Closing Period: Twenty (20) days after the end of the Due Diligence Period • Development of a telecommunications shelter CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – May 22, 2025 3 Secretary Wax inquired about whether there have been any new appraisals lately and Ms. Michaels stated that the purchase price was the average of two appraisals from 2021 and not much has changed since. Commissioner Relos recommended as part of the developer’s due diligence; that she should contact Hamilton Towing regarding environmental studies done in the past. Upon a motion by David Relos for approval, seconded by Eli Wax, the motion carried unanimously; the Commission approved the Purchase Agreement as presented on May 22, 2025. 2. License Agreement for Temporary Use for 332 W. Jefferson Blvd. (Historic Hearthstone LLC) Erin Michaels, Property Development Manager, proposed a license agreement for temporary use of 332 W. Jefferson by the adjacent property owner and would permit the adjacent property owner, Historic Hearthstone LLC, to store one commercial-sized dumpster on the parcel located at 332 W Jefferson that is currently owned by the Redevelopment Commission. The Redevelopment Commission previously approved a Development Agreement for Historic Hearthstone LLC for the renovation of the neighboring property at 321 W. Wayne. The proposed License Agreement will further aid in the redevelopment of a long-underutilized structure for a minimum investment of $1.5 million with a RDC commitment of $70,000. The term for the proposed license agreement is for five (5) years commencing from the effective date of this agreement and can be terminated by either party with thirty (30) days’ notice for one (1) commercial-sized dumpster. Regina Emberton with Historic Hearthstone LLC stated that the new tenant leasing the building is called Ivy Alley Social House, a family- friendly restaurant with duckpin bowling. Commissioner Shaw asked about the timeline for the project and Ms. Emberton stated it should start in November, 2025 and go for the full 5 years. Upon a motion by Eli Wax for approval, seconded by Ophelia Gooden- Rodgers, the motion carried unanimously; the Commission approved the License Agreement as presented on May 22, 2025. 3. Resolution No. 3639 Authorizing Use of Increased TIF Revenues and Amending Development Agreement (Monreaux) Erik Glavich, Director of Growth and Opportunity, presented Resolution No. 3639 which would amend the development agreement and final CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – May 22, 2025 4 form to $3,300,000 which is a $1 million increase from the original request. Costs have increased significantly since the original agreement was approved on July 14, 2022. Through value engineering, the building’s square footage has been slightly reduced— from 65,000 to 56,000 square feet. These changes, along with a reduction in the number of units from 60 to 57, are part of the commitments outlined in both the original development agreement and the proposed amendment. The original agreement also required Ms. Devereaux Peters, managing member of The Monreaux L.L.C., and her team to incorporate certain historical elements into the project. Also, there are 3 less units including only 1 less affordable housing. The Resolution also includes a clause for RDC officers to sign the amendment on behalf of the Commissioners. Secretary Wax inquired whether the Commission would be expected to cover any cost increases should the project budget rise. Caleb Bauer, Executive Director of Community Investment, responded that the current funding level is anticipated to be sufficient and should support full project completion, even accounting for the partial READI 2.0 funding gap. Commissioner Shaw asked if there are any other measures to mitigate cost increases in the future. Mr. Bauer stated that the back deck of the building for the covered parking and amenity space will be removed and possibly materials on the exterior of the building. Commissioner Gooden-Rodgers asked if the tax abatement would need to be extended. Mr. Bauer stated that we would not need to extend the designation period. President Warner asked about the original design provided a retail space with a maker’s apartment unit. Mr. Bauer stated that there still could be live/work units, and they are being rescoped. Vice President Relos encouraged Ms. Peters to consider using the terracotta materials in the interior or exterior of the building. President Warner spoke in favor of the project. Upon a motion by Ophelia Gooden-Rodgers for approval, seconded by David Relos, the motion carried unanimously; the Commission approved Resolution No. 3639 as presented on May 22, 2025. 4. Sublease Agreement 103 W. Colfax (Haunt of Hounds) Joseph Molnar, Assistant Director of Growth and Opportunity, proposed a renewal of lease with Haunt of Hounds LLC (Fatbird). In January of 2022, the Commission transferred the Palais Royale to the South Bend Redevelopment Authority (“RDA”) to effectuate a certain lease rental revenue bond transaction that would finance a portion of improvements to the Property. As part of this transaction, RDA leased CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – May 22, 2025 5 back to Commission through a certain lease agreement dated as of December 1, 2021 all of its rights, title, and interests in the property and expressly provided the authority to Commission to enter into agreements with other parties for the operation of the property. The Redevelopment Commission approved a lease with Haunt of Hounds, LLC for the restaurant Fatbird on July 1, 2020 located in the Palais Royale at 103 W Colfax Ave. Haunt of Hounds, LLC then provided notice to the Commission that they wished to exercise the renewal option in the lease to extend the term to June 30, 2025. The proposed lease between the RDC and Haunt of Hounds, LLC, would continue this partnership with the following terms: Lease Term: July 1, 2025 – June 30, 2028 Rent increase of 3% annually from base rent of $2,971.00/month • July 1, 2025 – June 30, 2026 Rent: $3,060.13/month • July 1, 2026 – June 30, 2027 Rent: $3,151.93/month • July 1, 2027 – June 30, 2028 Rent: $3,246.50/month • Common Expenses increased to $1,000/month • Prior lease was $975/month • First month’s rent waived due to HVAC issues that occurred in December of 2024 Renewal of the Fatbird Lease will continue the activation of the Palais Royale storefront, which adds a significant amount of vitality to downtown South Bend while also providing appropriate rental revenue for the space. Secretary Wax asked if there have been evaluations done to determine the market rate for rental tenants. Mr. Molnar stated that the RDC staff have conducted informal investigations of what other restaurants are paying, and this is slightly under the market rate, and this is due to property improvements can take longer being property owned by the city government. Upon a motion by Ophelia Gooden-Rodgers for approval, seconded by Eli Wax, the motion carried unanimously; the Commission approved the Sublease Agreement as presented on May 22, 2025. 5. Bid Specifications for Disposition of Property (4022 Old Cleveland Rd.) Joseph Molnar, Assistant Director of Growth and Opportunity, presented items 5A5-7 together to begin the disposition process of 4022 Old Cleveland Rd. RDC acquired property located at 4022 Old Cleveland Road through a certain Real Estate Purchase Agreement executed on October 10, 2024. This purchase was made with the CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – May 22, 2025 6 understanding that the land would be used for a low barrier intake homeless shelter. The property has been rezoned by the Common Council of South Bend to allow for a low barrier intake center to be built upon the property. The attached three documents - Bid Specifications, Noticed of Intended Disposition, and Resolution establishing offering price – are the beginning of the process for the property to be redeveloped and set the following conditions for a bid on the Property: • $825,000.00 minimum bid (average of two appraisals) • All bids will be due by 9:00am on June 12, 2025 and opened publicly at the RDC meeting on June 12, 2025 • During the review process, emphasis will be placed on compatibility with and support of the goals and objectives of the surrounding businesses and neighborhood and the Development Plan for the River East Development Area. • The proposed project must include a 120-bed homeless shelter Upon a motion by David Relos for approval, seconded by Ophelia Gooden-Rodgers, the motion carried unanimously; the Commission approved the Bid Specifications as presented on May 22, 2025. 6. Notice of Intended Disposition of Property (4022 Old Cleveland Rd.) Upon a motion by David Relos for approval, seconded by Ophelia Gooden-Rodgers, the motion carried unanimously; the Commission approved the Notice of Intended Disposition of Property as presented on May 22, 2025. 7. Resolution No. 3640 for Disposition of Property (4022 Old Cleveland Rd.) Upon a motion by David Relos for approval, seconded by Ophelia Gooden-Rodgers, the motion carried unanimously; the Commission approved Resolution No. 3640 as presented on May 22, 2025. B. River East Development Area 1. Opening of Bids (Former Oaklawn Property) Joseph Molnar, Assistant Director of Growth and Opportunity, stated we received no bid proposals prior to the deadline. Mr. Molnar asked if staff could bring forward a broader request for proposals at the June 26, 2025 RDC meeting. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – May 22, 2025 7 Secretary Wax asked if we received any potential inquiries and Mr. Molnar stated yes, and we think there will be significant interest at the RFP phase. 2. Opening of Bids (Former YMCA) Joseph Molnar, Assistant Director of Growth and Opportunity, stated we received no bid proposals prior to the deadline. Mr. Molnar asked if staff could bring forward a broader request for proposals at the June 26, 2025 RDC meeting. 3. Amendment to Development Agreement (River Walk LLC) Erik Glavich, Director of Growth and Opportunity, presented an amendment to the development agreement in the amount of up to $1,250,000 for The Pointe (River Walk L.L.C.) at the old Transpo site with environmental and elevation issues. The request is to alleviate some of the costs due to preparing the site for development. The private investment commitment was established to be $10 million and the funding support provided by the Commission would be $500,000. The commitment to construct 13 housing units and the developer would commit to having the project completed by the end of 2027. David Sieradzki with Century Builders stated that the whole foundation has to be re-engineered well past a normal standard residential foundation. Secretary Wax asked if the market would sustain the price per unit of roughly $1,173,000. Mr. Sieradzki stated that some are varying in price and have done studies and have committed $14 million to the project and feel confident they will be able to sell the townhomes. Caleb Bauer also stated that the Kinder Institute report from 2022 stated that the city needs inventory in this price bracket. Upon a motion by David Relos for approval, seconded by Eli Wax, the motion carried unanimously; the Commission approved the Amendment as presented on May 22, 2025. 6. Progress Reports A. Tax Abatement Erik Glavich, Director of Growth and Opportunity, noted the deadline for the annual compliance reports for the CF1’s was May 15th, 2025 and recipients have been notified. Caleb Bauer also notes that there may be a small percentage that have failed to comply with no reflection on staff’s efforts. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – May 22, 2025 8 B. Common Council None C. Other Joseph Molnar, Assistant Director of Growth and Opportunity, gave an update on that the RDC did close on the State Theater and have acted on roof repairs. Commissioner Gooden-Rodgers thanked the Growth & Opportunity staff for their efforts to assist residents with their questions. 7. Next Commission Meeting Thursday, June 12, 2025, 9:30 a.m. at BPW Conference Room 13th Floor 8. Adjournment Thursday, May 22, 2025, 10:40 a.m. ______________________________ ______________________________ Eli Wax, Secretary Troy Warner, President City of South Bend Department of Administration & Finance Claims Allowance Request To:South Bend Redevelopment Commission From:Kyle Willis, City Controller Date:Tuesday, May 20, 2025 Pursuant to Indiana Code 36-4-8-7, I have audited and certified the attached claims and submit them for allowance in the following amounts: GBLN-0107570 $645,120.97 GBLN-0107921 $5,000.00 GBLN-0108168 $524,014.24 Total:$1,174,135.21 _______________________________ Kyle Willis The attached claims described above were allowed in the following total amount at a public meeting on the date stated below: South Bend Redevelopment Commission By:_______________________________ Name: Date: d claims and ance Attest:_______________________________ Name: V-00001550 Payment method: Voucher: Payment date: Vendor# V-00001789 Payment method: Voucher: Payment date: Vendor# V-00008094 V-00008094 Payment method: Voucher: Payment date: Vendor# V-00012256 V-00012256 SOUTH BEND PUBLIC TRANSPORTATI ON CHK-Total RDCP-00038819 5/13/2025 Name Milestone Contractors North, Inc CHK-Total RDCP-00038820 5/13/2025 Name LYFT, Inc LYFT, Inc ACH-Total RDCP-00038821 5/13/2025 Name Urban Design Associates, Ltd Urban Design Associates, Ltd 25884 Invoice# APP #3 Invoice# 1001183044 1001183045 Invoice# 32527 32528 Commuters Trust -2025 Bus Passes Line description Paving -Ireland & Ironwood Intersection Line description Commuters Trust - Lyft Pass - March Invoices Commuters Trust - Lyft Pass - March Invoices Line description Downtown Master Plan -Economic development consultant Downtown Master Plan -Economic development consultant 5/22/2025 Due date 5/23/2025 Due date 4/30/2025 4/30/2025 Due date 5/7/2025 5/7/2025 $3,069.00 433-10-102-123-439300-­ PROJ00000383 Invoice amount Financial dimensions 430-10-102-121-442001-- $505, 106.06 PROJ00000518 Invoice amount Financial dimensions 433-10-102-123-439300-- $1,423.60 $276.99 Invoice amount $3,056.25 $1,736.00 PROJ00000383 433-10-102-123-439300-­ PROJ00000383 Financial dimensions 324-10-102-121-431000-- PROJ00000531 324-10-102-121-431000-- PROJ00000531 PO-0037678 Purchase order PO-0030685 Purchase order PO-0037806 PO-0037806 Purchase order PO-0030142 PO-0030142 City of South Bend Department of Administration & Finance Claims Allowance Request To:South Bend Redevelopment Commission From:Kyle Willis, City Controller Date:Tuesday, May 27, 2025 Pursuant to Indiana Code 36-4-8-7, I have audited and certified the attached claims and submit them for allowance in the following amounts: GBLN-0108481 $199,000.00 GBLN-0108527 $92,387.07 GBLN-0000000 $0.00 Total:$291,387.07 _______________________________ Kyle Willis The attached claims described above were allowed in the following total amount at a public meeting on the date stated below: South Bend Redevelopment Commission By:_______________________________ Name: Date: ance d claims and Attest:_______________________________ Name: Expenditure approval RDC Payments-5/27 /25 Pymt Run GBLN-0108527 Payment method: Voucher: Payment date: Vendor# V-00000526 Payment method: Voucher: Payment date: Vendor# V-00001188 Payment method: Voucher: Payment date: Vendor# V-00001712 V-00001712 Payment method: ACH-Total RDCP-00039025 6/6/2025 Name ENFOCUS INC ACH-Total RDCP-00039026 6/6/2025 Name NEAR NORTHWEST NEIGHBORHOO D ACH-Total RDCP-00039027 6/6/2025 Name UBER TECHNOLOGIES INC UBER TECHNOLOGIES INC CHK-Total Invoice# 1201805743 Invoice# 13 Invoice# 1158C7 DBFEAC Line description High Skill Immigration - enFocus partnership Line description Financial Em powerment Center Model Line description Commuters Trust Uber agreement 2024 Commuters Trust -2025 Uber Agreement Due date 6/4/2025 Due date 6/4/2025 Due date 5/31/2025 5/31/2025 Invoice amount $20,969.67 Financial dimensions 433-10-102-123-439300- -PROJ00000417 Invoice amount Financial dimensions $12,000.93 433-10-102-123-439300-­ PROJ00000565 Invoice amount Financial dimensions $3,308.93 $18,831.43 433-10-102-123-439300-­ PROJ00000383 433-10-102-123-439300-­ PROJ00000383 Purchase order PO-0023112 Purchase order PO-0033403 Purchase order PO-0030939 PO-0035484 Voucher: Payment date: Vendor# V-00008094 Payment method: Voucher: Payment date: Vendor# V-00012256 Payment method: Voucher: Payment date: Vendor# V-00013544 RDCP-00039028 6/6/2025 Name LYFT, Inc ACH-Total RDCP-00039029 6/6/2025 Invoice# 1001187754 Name Invoice # Urban Design Associates, Ltd 42535 CHK-Total RDCP-00039030 6/6/2025 Name RCLCO Invoice# 9044991 Line description Due date Commuters Trust - Lyft Pass - ND & Senior1 Care 5/30/2025 Line description Due date Downtown Master Plan -Economic development consultant 5/31/2025 Line description Due date Downtown Master Plan -Comprehensive Market Analysis for Downtown SB 4/30/2025 Invoice amount Financial dimensions 433-10-102-123-439300-- $1,332.36 PROJ00000383 Invoice amount Financial dimensions 324-10-102-121-431000-- $9,643.75 PROJ00000531 Invoice amount Financial dimensions 324-10-102-121-431000-- $26,300.00 PROJ00000531 Purchase order PO-0038073 Purchase order PO-0030142 Purchase order PO-0030571 South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE: 6/9/2025 FROM: Joseph Molnar, Assistant Director Growth & Opportunity SUBJECT: Resolution Authorizing Public Meeting for Residential Housing Development Program 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 Resolution Regarding Establishment of Residential Housing Development Program SPECIFICS: The Lincoln and Kennedy Park Neighborhood area currently has a large amount – approximately 50% - of vacant lots. In the same neighborhood, Intend Indiana is planning on constructing a minimum of 92 new housing units over the next 5 years. Also, the new MLK Dream Center is located in the neighborhood. These significant investments in the neighborhood will hopefully be a catalyst for more residential infill construction stabilizing the neighborhoods and activating vacant lots. Staff are proposing the establishment of a Residential Housing Development Program on certain land in the Lincoln Park and Kennedy Park neighborhoods to provide for the construction of new residential housing or the renovation of existing residential housing on such land. This new program would help capture tax increment increases on new construction and help reinvest that increment back into the neighborhood. This new housing program would be a new subset of the River West Economic Development Area solely focused on single family housing construction and would act as a separate residential TIF within the larger commercial focused River West TIF. The attached resolution sets out the necessary steps needed for the creation of this Residential Housing Development Program including public notice. This resolution is the first step, a 3 month long process and authorizes RDC staff to initiate that process. Staff recommends approval. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION 1 RESOLUTION NO. 3643 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION AUTHORIZING A PUBLIC MEETING REGARDING THE ESTABLISHMENT OF A RESIDENTIAL HOUSING DEVELOPMENT PROGRAM AND AUTHORIZING ACTIONS IN FURTHERANCE THEREOF WHEREAS, the South Bend Redevelopment Commission (the “Commission”), the governing body of the City of South Bend, Indiana, Department of Redevelopment (the “Department”) and the Redevelopment District of the City of South Bend, Indiana (the “District”), exists and operates under the provisions of the Redevelopment of Cities and Towns Act of 1953 which has been codified in Indiana Code 36-7-14, as amended from time to time (the “Act”); and WHEREAS, the Commission is considering establishing a residential housing development program on certain land in the Lincoln Park and Kennedy Park neighborhoods in the District (the “Program”) pursuant to Sections 53 through and including 56 of the Act, to provide for the construction of new residential housing or the renovation of existing residential housing on such land; and WHEREAS, the Act requires the Department to hold a public meeting and to complete certain other specified actions designed to inform the public, solicit public input and provide opportunities for public participation, including the following (referred to herein as the “Requirements”): (1) consulting with persons interested in or affected by the proposed Program, including the superintendents and governing body presidents of all school corporations located within the proposed allocation area to be created in connection with the proposed Program; (2) providing affected neighborhood associations, residents, and township assessors with an adequate opportunity to participate in an advisory role in planning, implementing, and evaluating the proposed Program; and (3) holding at least one public meeting to obtain the views of neighborhood associations, and residents of the affected neighborhood, including sending notice at least thirty (30) days prior to the public meeting to the fiscal officer of all affected taxing units and to the superintendents and governing body presidents of all school corporations located within the proposed allocation area; and WHEREAS, the Commission desires to authorize and direct the staff of the Department of Community Investment to oversee compliance with the Requirements on behalf of the Commission, including, without limitation, the publication and distribution of a notice of the required public meeting as required by Section 53 of the Act; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, as follows: 1. The Commission desires to proceed with the actions necessary to provide for the establishment of a Program (including creation of a related allocation area) and desires to authorize the further actions and approvals as required by law. 2 2. The staff of the Department of the Community Investment is hereby authorized and directed to effectuate compliance on behalf of the Commission with the Requirements, including, without limitation, the publication and distribution of a notice of the required public meeting as required by Section 53 of the Act, and any action heretofore taken by any officer of the Commission or by the staff of the Department of Community Investment in furtherance thereof is hereby ratified and approved. 3. This resolution shall take effect immediately upon adoption by the Commission. ADOPTED AND APPROVED at a meeting of the South Bend Redevelopment Commission held on the 12th day of June, 2025. SOUTH BEND REDEVELOPMENT COMMISSION President ATTEST: Secretary DMS 47764622 South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE : 6/5/25 FROM: Erin Michaels – Property Development Manager SUBJECT: License Agreement for Temporary Use – Stoic Beverages 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 Proposed License Agreement for Temporary Use to for Ingress and Egress SPECIFICS: On November 25th, 2024, the Redevelopment Commission approved a purchase agreement with Stoic Beverages, LLC for the parcel located at 410 W Wayne St for the development of a distillery with a tasting room. Stoic Beverages has committed to invest a minimum of $300,000 in improvements to the site and to complete construction no later than December 13th, 2027. The proposed License Agreement for Temporary Use would permit patrons of Stoic Beverages LLC to utilize the adjacent parcel owned by the Redevelopment Commission for ingress and egress to the site. Stoic Beverages will be responsible for maintaining the parcel during the term of this agreement. The initial term of this agreement would be ten (10) years after approval and will be renewed automatically for a one (1) year period thereafter. At any time either party may terminate this agreement with one hundred twenty (120) day notice. This will help improve the traffic flow at Stoic Beverages parcel and will assist with the redevelopment of this site. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION LICENSE AGREEMENT FOR TEMPORARY USE This License Agreement for Temporary Use (this “Agreement”) is made on ____________________, 2025 (the “Effective Date”), by and between Licensor, the City of South Bend, Indiana, Department of Redevelopment acting by and through its governing body, the South Bend Redevelopment Commission (the “Commission”), and Licensee, Stoic Beverages LLC, an Indiana Limited Liability corporation (the “Developer”) with offices at 26829 County Road 52, Nappanee, IN 46550 (each a “Party” and collectively the “Parties”). RECITALS A.As of the Effective Date of this Agreement, Developer owns certain real property located in South Bend, Indiana, commonly known as 410 W Wayne St, and more particularly described in Exhibit A (the “Developer Property”), which is subject to a certain Real Estate Purchase Agreement with the Commission dated November 25, 2024 to redevelop the Developer Property. B.The Commission desires to allow the Developer to have temporary access to the lot directly to the east of the Developer Property that is currently owned by the Commission, with a parcel ID of 018- 3012-044005 ., and more particularly described in Exhibit B (the “Commission Property”), for vehicular ingress and egress by Developer and its agents, contractors, employees, and patrons related to the use of the Developer Property. NOW, THEREFORE, in consideration of the mutual promises and representations made in this Agreement, the legal adequacy of which are hereby acknowledged, the Developer and the Commission agree as follows: 1.Temporary License; No Lease or Easement. The Commission hereby grants to the Developer a non-exclusive, temporary license to access and use the Commission Property for the limited purpose of vehicular ingress and egress by Developer and its agents, contractors, employees and patrons related to the use of the Developer Property (the “License”). The Commission and the Developer mutually acknowledge and agree that this Agreement does not constitute a lease of or easement over the Commission Property. 2.Term. The initial term of this Agreement shall be ten (10) years, commencing on the Effective Date of this Agreement (the “Initial Term”). At the conclusion of the Initial Term, this Agreement shall be deemed automatically renewed each year for an additional one (1) year period (an “Automatic Renewal Term”), unless the Commission or the Developer provides notice of its intention not to renew this Agreement as set forth herein. 3.Termination. This Agreement may be terminated by either Party, with or without cause, upon one hundred twenty (120) days advance written notice of cancellation delivered in accordance with Section 12 herein. Upon receipt of the written notice of termination, which shall be presumed received three (3) business days after the same has been deposited in the United States Mail, the Developer will have thirty (30) days to vacate the Commission Property and remove any personal property therefrom, including the any trash or other debris. 4.Permitted Use; Restrictions. The Developer may use the Commission Property for the sole purpose of vehicular ingress and egress by Developer and its agents, contractors, employees and patrons related to the use of the Developer Property (the “Use”). The Developer understands and agrees that it will, at its own expense, observe and comply with, or cause to be observed and complied with, all applicable statutes, laws, ordinances, requirements, orders, rules, and regulations of all governmental authorities in relation to the Use. The Developer shall further be responsible for any costs associated with the Use, that will not disrupt Commission operations. The Developer understands and agrees that it is fully responsible for the Use, and represents and warrants that the Use will not result in any hazardous materials, knowingly or unknowingly, entering any portion of the Commission Property. For purpose of this Agreement, “hazardous materials” shall mean any waste which is listed, has the characteristics of, or is otherwise identified as a hazardous waste or subject waste under applicable state or federal laws or regulations. The Developer further agrees that it may not construct or install any permanent improvement of any kind or description on the Commission Property without the Commission’s prior consent in writing. 5.Maintenance; Restoration. The Developer, at the Developer’s sole expense, will at all times maintain and keep in good order and condition the Commission Property including, but not limited to, clearing garbage, debris, snow, and ice from the Commission Property, including any tree lawn area, in accordance with applicable zoning, building, property maintenance, and other regulations and authorities. In the event the Developer (or any of the Developer’s licensees or invitees) disturbs or damages any part of the Commission Property, the Developer will promptly restore such area(s) to substantially the same condition that existed immediately prior to such disturbance or damage, to the Commission’s satisfaction. 6.Security. The Developer understands and agrees that the Commission shall not be liable for any loss, damage, destruction, or theft of any of the Developer’s personal property, or any bodily harm or injury that may result from the Developer’s use of the Commission Property. 7.Indemnification. The Developer will indemnify and hold the Commission (and its officials, boards, employees, agents, and contractors) harmless from and against any and all claims, costs, damages, and liabilities of any kind resulting from damage or injury to any person or property upon the Commission Property, the Developer’s use of the Commission Property under the License, or otherwise in connection with this Agreement. If any action is brought against the Commission (or its officials, boards, employees, agents, or contractors) in connection with the Developer’s use of the Commission Property, the Developer agrees to defend such action or proceedings at its own expense and to pay any judgment rendered therein. 8.Insurance. The Developer will maintain commercial general liability insurance coverage in the minimum amount of at least One Million Dollars ($1,000,000.00) per occurrence and will designate the City as an additional named insured under any such policy of insurance. Promptly following the Effective Date of this Agreement, the Developer will produce to the City a certificate of insurance evidencing the same. 9.Reservation of Rights. The Commission reserves for itself the free use of the Commission Property in any manner that does not substantially interfere with or obstruct the Developer’s license under this Agreement. 10.Interpretation; Governing Law. Both Parties having participated fully and equally in the negotiation and preparation of this Agreement, this Agreement will not be more strictly construed, nor will any ambiguities in this Agreement be presumptively resolved, against either Party. This Agreement will be governed and construed in accordance with the laws of the State of Indiana. 11.Assignment. The Developer may not assign this Agreement or the License granted herein to any other person or party without the Commission’s prior written consent. Any attempt by the Developer to assign or otherwise convey any interest in this Agreement will be void and of no force or effect unless the Developer first obtains the Commission’s written consent. 12.Notices. Any notices required under this Agreement may be provided (a) by hand-delivery (which will be deemed delivered at the time of receipt) or (b) by registered or certified mail, return receipt requested (which will be deemed delivered three (3) days after mailing), to each Party’s respective address and the representatives stated below. Commission:Executive Director City of South Bend, Indiana 1400 S. County-City Building 227 W. Jefferson Blvd. South Bend, IN 46601 With a copy to:South Bend Legal Department 1200 S County-City Building 227 W. Jefferson Blvd. South Bend, IN 46601 Attn. Corporation Counsel Developer:Stoic Beverages LLC 26829 County Road 52 Nappanee, IN 46550 Attn: R. Weaver, Member Either Party may change its address for notice hereunder by notice to the other Party given as set forth herein. 13.Entire Agreement; Amendment. This Agreement embodies the entire agreement between the Commission and the Developer related to the Developer’s future use of the Commission Property and supersedes all prior discussions, understandings, or agreements, whether written or oral, between the Commission (or any representative of the Commission) and the Developer concerning the same. This Agreement may be amended only by separate writing, signed by the Commission and the Developer. 14.Waiver. Neither the failure nor any delay on the part of a Party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the Party asserted to have granted such waiver. 15.Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of Indiana. 16.Authority; Counterparts; Signatures. Each undersigned person certifies that he or she is duly authorized to bind his or her respective Party to the terms of this Agreement. This Agreement may be separately executed in counterparts by the Commission and the Developer, and the same, when taken together, will be regarded as one original agreement. Electronically transmitted signatures will be regarded as original signatures. SIGNATURE PAGE FOLLOWS IN WITNESS WHEREOF, the parties have signed this License Agreement for Temporary Use to be effective as of the Effective Date. LICENSOR: SOUTH BEND REDEVELOPMENT COMMISSION ______________________________ Troy Warner, President ATTEST: ______________________________ Eli Wax, Secretary LICENSEE: Stoic Beverages LLC, a Limited Liability Company By: R. Weaver, Member EXHIBIT A Description of Developer Property Parcel No. 71-08-11-284-001.000-026 Tax ID: 018-3012-044003 Legal Description: Lot A Vails Sub First Replat 14/15 NP#8037 10-04-2013 Commonly Known As: 410 W WAYNE ST EXHIBIT B Description of Commission Property Parcel No. 71-08-11-284-008.000-026 Tax ID: 018-3012-044005 Legal Description: Outlot A Vails Sub First Replat 14/15 NP#8037 10-04-2013 South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE : 6/5/25 FROM: Erin Michaels – Property Development Manager SUBJECT: Purchase Agreement – KCG Development LLC – 2018-2020 S. Main St. 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 Purchase Agreement with KCG Development LLC for 2018-2020 S Main St. SPECIFICS: The proposed Purchase Agreement is for RDC-owned properties located at 2018-2020 S Main St. KCG Development LLC is applying for low-income housing tax credits with plans to construct multi-family housing with a minimum of fifty (50) affordable income restricted units. The sale of the property will only proceed if the developer is awarded the low-income housing tax credits. Awarding of the low-income housing tax credits will occur in November 2025. The agreement includes a purchase price of $1,000 and a minimum investment of $14 million dollars with a project completion of thirty (30) months after the Construction Commencement Date. Construction of a new apartment building on currently vacant land will add vitality to the Main Street corridor as well as providing quality affordable housing. Staff recommends approval _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION REAL ESTATE PURCHASE AGREEMENT This Real Estate Purchase Agreement (this “Agreement”) is made and entered into by and between the City of South Bend, Department of Redevelopment, acting by and through its governing body, the South Bend Redevelopment Commission (“Seller”) and KCG Development LLC a Florida Limited Liability Company, with its registered address being 9311 N Meridian Street, Suite 100, Indianapolis, IN 46260 (“the Buyer”) (each a “Party,” and together the “Parties”). RECITALS A. Seller exists and operates pursuant to the Redevelopment of Cities and Towns Act of 1953, as amended, being Ind. Code 36-7-14 (the “Act”). B. In furtherance of its purposes under the Act, Seller owns the real property described in Exhibit A attached hereto and incorporated herein (collectively, the “Property”). C. Pursuant to the Act, Seller adopted its Resolution No. 3096 on October 11, 2012, whereby Seller established a total offering price of Fifty- Seven Thousand Three Hundred and Fifty Dollars ($57,350) (the “Appraised Value”) for the Property and other adjacent lots. D. Pursuant to the Act, on October 11, 2012, Seller authorized the publication on October 19, 2012 and October 26, 2012, respectively, of a notice of its intent to sell the Property and other adjacent lots and its desire to receive bids for the Property and other adjacent lots on or before November 8, 2012. E. At its public meeting on November 8, 2012, Seller received zero (0) bids. F. Buyer has the opportunity to apply for low-income housing tax credits and desires to enter into an agreement for the purchase of the Property. G. In accordance with Section 22 of the Act, Seller now desires to sell the Property to Buyer, and Buyer desires to purchase the Property from Seller, on the terms stated in this Agreement. NOW THEREFORE, for and in consideration of the mutual covenants and conditions contained in this Agreement, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Buyer and Seller hereby agree as follows: 1. AGREEMENT TO SELL AND PURCHASE; ACCEPTANCE DATE. Seller shall sell the Property to Buyer, and Buyer shall purchase the Property from Seller, pursuant to the covenants, provisions and other terms and conditions contained in this Agreement. The Property shall include certain parcels of land described in Exhibit A and the transferable improvements, fixtures, easements, licenses, permits and all of Seller's other rights, title and interest appurtenant and otherwise relating thereto. The “Acceptance Date” as referenced herein from time to time, shall mean the latest date upon which all parties to this Agreement execute the Agreement and deliver such executed Agreement to all other parties hereto. 2. PURCHASE PRICE; EARNEST MONEY. The purchase price for the Property shall be One Thousand Dollars ($1,000.00) (the “Purchase Price”), payable by Buyer to Seller in cash at the closing described in Section 7 below. Buyer shall submit to Seller earnest money in the amount of One Hundred Dollars ($100.00) (the “Earnest Money”) on or before the Acceptance Date. Seller will hold such Earnest Money unless and until it is to be disposed in accordance with the terms of this Agreement and will bear no interest for any period of time. The Earnest Money shall be refundable until the expiration or waiver of Buyer’s Contingency (as defined in Section 4(c) below), at which time the Earnest Money shall be non -refundable, except as provided herein, but shall remain applicable to the Purchase Price at Closing (as defined below). 3. PROPERTY INFORMATION; CONTRACTS. Within fifteen (15) days of the Acceptance Date, Seller shall provide Buyer, to the extent not previously provided, and to the extent in Seller's possession or control, copies of any and all reports, contracts, leases, guaranties, warranties, and surveys relating to the Property or relevant to a reasonable Buyer's determination whether to purchase the Property (the “’Property Information”). Seller further agrees to deliver promptly to Buyer copies of any additional Property Information that Seller obtains prior to Closing. Prior to Closing, Seller shall terminate any and all property management, maintenance, lawn care, snow plowing and other contracts and agreements relating to the Property, unless Buyer has consented to the continuation of any such contract or agreement. 4. INVESTIGATION; BUYER’S CONTINGENCY; INDEMNIFICATION; INSURANCE. A. Seller acknowledges that Buyer contemplates acquiring the Property for Buyer’s intended use of the Property as income-based, multi-family housing with a minimum fifty (50) housing units (the “Intended Use”). From and after the Acceptance Date, and upon Buyer providing Seller with evidence that Buyer has commercial general liability insurance reasonably acceptable to Seller in the amount of at least One Million Dollars ($1,000,000.00) per occurrence, Buyer and its agents shall have the right, but no obligation, at its sole cost: (i) to enter upon the Property to conduct the tests, inspections, studies, assessments and investigations contemplated under this Agreement at any time and from time to time (collectively, “Tests”); and (ii) to make such Tests of the Property and information with respect to the Property, the Intended Use and/or this Agreement, all as Buyer may deem desirable, including, without limitation: [a] any environmental assessment, evaluation or study (including a “Phase I” environmental site assessment); and [b] topographic, engineering, traffic, parking and other feasibility studies. Notwithstanding the foregoing, Buyer will not conduct any invasive Tests, including, without limitation, Phase II environmental assessments or soil borings, without Seller's prior written consent, which consent shall not be unreasonably withheld or delayed. Buyer shall conduct all Tests at a time and in a manner as to reasonably minimize interference with Seller's operation on or about the Property and any neighboring properties. Buyer shall indemnify, defend and hold Seller, its officials, members, employees, agents, contractors, lessees, licensees, invitees, successors and assigns harmless from any and all liabilities, claims, damages and expenses (including attorneys’ fees, court costs, and costs of investigation) arising out of or in connection with the Tests or the entry on to the Property by Buyer or its agents. From and after the Acceptance Date, Seller agrees that Seller shall, at the request of Buyer and without cost to Seller, cooperate with Buyer in connection with any and all private and governmental approvals, rezoning, land subdivisions and other matters necessary for Buyer's Intended Use. B. In addition to any and all other conditions and contingencies in this Agreement, Buyer’s obligations under this Agreement are hereby conditioned upon Buyer’s receipt of a low-income housing tax credit (“LIHTC”) reservation from the Indiana Housing and Community Development Authority (“IHCDA”) for the Intended Use. If the LIHTC reservation is not received within one hundred and forty (140) days of IHCDA accepting Buyer’s application for review, this Agreement shall terminate at Buyer’s election and in such event all Earnest Money shall be returned to Buyer. Bu yer represents that IHCDA intends to accept project applications on or around July 28, 2026 and announce reservations ("Reservation") on or about November 19, 2026. In the event Buyer fails to submit its application to IHCDA prior to the published deadline this Agreement shall terminate and all Earnest Money shall be returned to Buyer. In the event that Buyer obtains a LIHTC Reservation from IHCDA but is unable to obtain a commitment for an equity investment from a tax credit investor on terms that are satisfactory to Buyer, in Buyer’s sole discretion and in an amount sufficient for the Intended Use, within six (6) months after obtaining the LIHTC Reservation from IHCDA, despite Buyer’s best reasonable efforts, this Agreement shall terminate at Buyer’s election and in such event all Earnest Money shall be returned to Buyer. C. If at any time on or before December 31, 2026 (the “Contingency Date”), Buyer determines, for any reason, in Buyer’s sole discretion, that the Property or the transaction described herein is unacceptable to Buyer, then Buyer shall have the right to terminate this Agreement by giving written notice of termination to Seller at any time on or before the Contingency Date in which event, at Buyer’s election, all Earnest Money shall be returned to Buyer (“Buyer's Contingency”). Any failure by Buyer to give such notice shall constitute an election by Buyer to not so terminate, in which event Buyer’s right to terminate this Agreement shall be deemed to have been waived. Following any termination of this Agreement, the parties shall be relieved of any further obligations or liabilities under this Agreement, except those obligations that expressly survive termination hereof. D. In anticipation of performing its obligations under Section 9 below, Buyer will prepare plans and specifications for constructing a new building on the Property and all other related improvements (collectively, the “Property Improvements”), including plans and specifications for the manner in which the new building will be designed (the “Construction Plan”). Buyer agrees to cooperate with the Executive Director, or his designee, of the City’s Department of Community Investment (the “City”) in developing its Construction Plan. 5. TITLE INSURANCE; SURVEY. Within thirty (30) days of the Acceptance Date, Seller, at Buyer’s sole cost, shall deliver a written commitment by a title insurance company selected by Buyer (the “Title Company”) to issue to Buyer a current ALTA Form owner’s policy of title insurance with respect to the Property in an amount determined by Buyer (the “Title Commitment”). Buyer shall have the right to obtain, at Buyer’s sole cost, a new or updated survey, in a form determined by Buyer (the “Survey”). Seller's special warranty of title set forth in the deed and Seller’s other representations and warranties, if any, with respect to the Property shall be subject to all exceptions set forth elsewhere in this Agreement and all matters disclosed on the Title Commitment or Survey including, without limitation, all easements, covenants, conditions, restrictions, requirements, standard exceptions and special exceptions, except for monetary liens which will be paid out of Closing. If the Title Commitment or Survey discloses any matters unacceptable to Buyer, in Buyer's sole discretion, (the “Title Defects”), Buyer shall notify Seller of such Title Defects no later than ninety (90) days before the Contingency Date. If Seller fails to correct the Title Defects to Buyer's satisfaction in advance of the Contingency Date, Buyer may (a) terminate this Agreement upon written notice to Seller and all Earnest Money shall be returned to Buyer, or (b) waive Buyer’s objection to such Title Defects and take title subject to the same. Any title exceptions contained on the Title Commitment and not objected to by Buyer in accordance with this Section 5, or a title exception that shall be objected to initially, but such objection thereto is later waived or acquiesced to by Buyer, shall be deemed a “Permitted Exception” hereunder. 6. ADDITIONAL REPRESENTATIONS AND WARRANTIES OF SELLER. A. Seller hereby represents and warrants to Buyer that all of the following are true, correct and complete on and as of the date hereof, and shall continue to be true, correct and complete as of the Closing Date: 1. Seller has no actual knowledge of (i) any orders from or agreements with any governmental authority or private party or any judicial or administrative proceedings or investigations, whether pending or threatened, respecting any environmental, health or safety requirements under federal, state or local laws or regulations relating to the Property, or (ii) any pending, asserted or threatened claims or matters involving material liabilities, obligations or costs arising from the existence, release or threatened or alleged release of any Hazardous Substances at, on or beneath the Property. “Hazardous Substances” shall mean any hazardous or toxic material, substance or waste, pollutant or contaminant which is defined as a hazardous substance or hazardous waste under any Environmental Laws (as defined below). 2. No notice from any governmental body or other person has been served upon Seller or upon the Property claiming the violation of any law or any building, zoning, environmental, health or other ordinance, code, rule or regulation relating to the Property. There are no legal actions, suits or administrative proceedings, including condemnation cases or eminent domain proceedings commenced, pending or threatened against the Property or any portion thereof. Seller has not received notice of any negotiations for purchase in lieu of condemnation relating to the Property or any portion thereof. a. Seller is not a party to any agreement or commitment to sell, convey, assign, transfer, provide rights of first refusal or other similar rights with respect to, or otherwise dispose of, any part of the Property or any interest therein other than this Agreement. Neither Seller nor any person or entity claiming by, through or under Seller has done or suffered anything whereby any lien, encumbrance, claim or right of another has been created against the Property or any portion thereof or any interest therein other than this Agreement, the Permitted Exceptions and possible construction or materialmen's lien claims arising out of work performed by or on behalf of Seller which will be removed at or before the Closing. b. There is no action, proceeding or investigation pending or to the best of Seller's knowledge, threatened against Seller or with respect to the Property or any portion thereof before any court or governmental or quasi- governmental department, commission, board, agency or instrumentality. c. The signatories to this Agreement on behalf of Seller have full right, power and authority to enter into this Agreement and to consummate the transactions contemplated herein. This Agreement is valid and enforceable against Seller in accordance with its terms. Each instrument to be executed by Seller pursuant hereto or in connection herewith will, when executed and delivered, be valid and enforceable in accordance with its terms. d. The accuracy of all Seller representations and warranties contained in this Agreement shall be a condition to Buyer's obligations under this Agreement, which condition will be merged at the time of, and will not survive, the Closing. If any of the representations or warranties contained in this Agreement is untrue in any material respect and is not cured (at no cost to Buyer) prior to the scheduled Closing, then Buyer may elect to (i) purchase the Property as it then is or, (ii) terminate this Agreement and, anything in this Agreement to the contrary notwithstanding, receive a refund of all Earnest Money. e. Except as specifically set forth in this Agreement, Buyer agrees to purchase the Property “as-is, where-is” and without any representations or warranties by Seller as to the condition of the Property or its fitness for any particular use or purpose. Except as specifically set forth in this Agreement, Seller offers no such representation or warranty as to the Property’s condition or fitness, and nothing in this Agreement will be construed to constitute such a representation or warranty as to the Property’s condition or fitness. 7. CLOSING. A. Provided that all conditions of closing hereunder have been satisfied or waived, the closing of the transaction described herein (the “Closing”) shall occur at the offices of the Title Company on the Closing Date. The “Closing Date” shall be the Contingency Date, or such earlier or later date as may be agreed to in writing by Seller and Buyer. B. The following shall occur on or before the Closing Date: 1. Seller shall deliver all of the following to Buyer, all of which shall be fully-executed by Seller, as appropriate: a. A special warranty deed in the form attached hereto as Exhibit B sufficient to convey and warrant to Buyer fee simple absolute title to the Property, to extent such title is affected by Seller’s actions, subject only to the Permitted Exceptions (the “Special Warranty Deed”), which Special Warranty Deed will restrict Buyer’s use of the Property to the Intended Use and other uses as allowed by this Agreement, articulate the Seller’s right to re-enter and re-take possession of the Property the event of default as set forth in this Agreement, and will prohibit Buyer from discriminating in the sale, lease, rental, use, occupancy, or enjoyment of the Property or any improvements constructed on the Property; b. An affidavit of title in customary form covering the Closing Date and showing title in Seller, subject only to the Permitted Exceptions; c. Any required real estate sale disclosure; d. Such other documents as may be necessary or proper to comply with this Agreement or required (by the Title Company or otherwise) to carry out its terms. 2. Buyer shall deliver all of the following to Seller, all of which shall be fully-executed by Buyer, as appropriate: a. The balance of the Purchase Price, plus or minus prorations, credits and other adjustments, by wire transfer or otherwise in immediately available funds; b. Any required real estate sale disclosure; c. Such other documents as may be necessary or proper to comply with this Agreement or required to carry out its terms. 3. Seller shall cause the Title Company to issue to Buyer at Closing a current ALTA Form owner's policy of title insurance, with extended coverage, pursuant to the Title Commitment and containing all amendments and endorsements required by this Agreement or otherwise reasonably required by Buyer, which policy and endorsements shall be at Buyer's sole cost, and which shall only be subject to the Permitted Exceptions. 4. Exclusive occupancy of the Property shall be delivered to Buyer at Closing, except for the continuation of any installations, equipment, or access by personnel upon the Property that Seller or Seller’s representatives or contractors may require in connection with carrying out Seller’s Work in accordance with the terms of this Agreement. 8. PRORATIONS; REAL ESTATE TAXES AND ASSESSMENTS; CLOSING COSTS. A. Buyer, and Buyer’s successors and assigns, shall be liable for any and all real property taxes and assessments assessed and levied against the Property with respect to the year in which the Closing takes place and for all subsequent years. Seller shall have no liability for any real property taxes or assessments associated with the Property, and nothing in this Agreement shall be construed to require the proration or other apportionment of real property taxes or assessments resulting in Seller’s liability therefor. B. At Closing, Seller shall pay the costs of releasing all liens, judgments, and other encumbrances that are to be released and of recording such releases. At Closing, Buyer shall pay (i) all fees and costs due Title Company for its closing, document preparation, and/or escrow services, (ii) the cost of the premium for the Title Policy and all endorsements to the Title Policy (iii) the cost of the Survey, (iv) the cost of any lender’s policy of title insurance or endorsements thereto, and (v) the cost of recordation of any instrument associated with the transaction contemplated in this Agreement, except as provided in the foregoing sentence. Except as otherwise provided for in this Agreement, Seller and Buyer will each be solely responsible for and bear all of their own respective expenses, including, without limitation, expenses of legal counsel, accountants, and other advisors incurred at any time in connection with pursuing or consummating the transaction contemplated herein. Any other closing costs not specifically designated as the responsibility of either party in this Agreement shall be paid by Buyer. 9. BUYER’S POST-CLOSING DEVELOPMENT OBLIGATIONS; CHANGE OF INTENDED USE. A. Property Redevelopment; Proof of Investment. Provided Closing occurs, within ten (10) months after the Closing Date, Buyer will commence construction and redevelopment of the Property for the Intended Use and will provide Seller with such commencement date (the “Construction Commencement Date”). Buyer will expend an amount (including hard and soft costs) of not less than Fourteen Million Dollars ($14,000,000.00) to complete the Property Improvements to redevelop the Property for the Intended Use. Promptly upon completing the Property Improvements, Buyer will submit to Seller records proving the above required expenditures and will provide to Seller copies of the certificate(s) of occupancy for the Property Improvements. Buyer shall permit Seller to perform reviews and monitor the progress of the construction of the Property Improvements. The parties expect the Property Improvements to be completed within thirty (30) months of the Construction Commencement Date (the “Completion Date”). If the Property Improvements have not been completed by the Completion Date, the Buyer shall be in default under this Agreement. B. Certificate of Completion. Promptly after Buyer completes the Property Improvements and proves the same to Seller’s reasonable satisfaction in accordance with the terms of Section 9(A) above, upon Buyer’s request, Seller will issue to Buyer a certificate acknowledging such completion (the “Certificate of Completion”). Seller and Buyer agree to record the Certificate of Completion immedia tely upon issuance, and the Buyer will pay the costs of recordation. C. Change of Intended Use. Buyer covenants and agrees that neither Buyer nor any of Buyer’s successors or assigns will change its use of the Property from the Intended Use of the Property defined above without obtaining Seller’s prior consent to such change in writing. 10. DEFAULT. A. If Seller defaults under this Agreement, Buyer shall have any and all remedies available to it under this Agreement and otherwise at law or in equity including, without limitation: (i) the right of specific performance; (ii) the right to terminate this Agreement at any time after such default by delivering written notice of termination to Seller; and/or (iii) the right to sue for damages, provided, however, that in no event shall Seller be liable for more than One Thousand Dollars ($1,000.00) in damages. In the event of any such termination, all Earnest Money shall be immediately returned to Buyer. All of Buyer's remedies shall be cumulative and not exclusive. B. If Buyer defaults under this Agreement, Seller shall have the right to re- enter and take possession of the Property and to terminate and revest in Seller the estate conveyed to Buyer at Closing and all of Buyer’s rights and interests in the Property without offset or compensation for the value of any improvements made by Buyer. C. In the event Seller pursues legal action (including arbitration) to enforce or interpret this Agreement, Buyer shall pay Seller’s reasonable attorneys’ fees and other costs and expenses (including expert witness fees). 11. COVENANTS OF SELLER. Between the date of this Agreement and the Closing Date, Seller shall: A. not, without first obtaining the written consent of Buyer, enter into any leases, contracts or other agreements, nor grant or permit any rights to any other party, pertaining to the Property or any portion thereof, except in relation to Seller’s performance of ongoing demolition work at the Property, if any; B. comply with all private and governmental laws, rules, ordinances, regulations, covenants, conditions, restrictions, easements, liens and agreements affecting the Property or any portion thereof including, without limitation, the use thereof; and C. comply with all requirements of the Title Company in connection with its insurance of fee simple title to the Property in Buyer as required under Section 5 hereof and elsewhere herein. 12. NOTICES. A. All notices, demands and communications required or which either party desires to give or make hereunder shall be effective (at the time set forth in Section 12(B)) if in writing signed by or on behalf of the party giving or making the same, and if served/delivered to the addresses and/or fax numbers set forth below and in any of the following manners: (i) personally; (ii) by United States certified mail, return receipt requested; or (iii) by a national courier service for next business day delivery. To Seller: City of South Bend Department of Community Investment Attn: Executive Director County-City Building, Suite 1400 S. 227 W. Jefferson Blvd. South Bend, IN 46601 Telephone: 574-235-9337 With a copy to: City of South Bend Legal Department Attn: Corporation Counsel County-City Building, Suite 1200 S. 227 W. Jefferson Blvd. South Bend, IN 46601 To Buyer: KCG Development LLC Attn: RJ Pasquesi 9311 N Meridian St. Suite 100 Indianapolis, IN 46260 Telephone: 317-708-6519 Email: rpasquesi@kcgcompanies.com With a copy to: Stefani Thomas, Esq. 26050 Mureau Rd, Suite 200 Calabasas, CA 91302 Email: sthomas@walkerdunlop.com With a copy to: Thomas Stone, Est. 26050 Mureau Rd, Suite 200 Calabasas, CA 91302 Email: tstone@walkerdunlop.com Either Party may, by written notice, modify its address or representative for future notices. B. Notices given personally shall be deemed to have been given upon receipt. Notices mailed by United States mail shall be deemed to have been given on the third business day after the date of mailing or upon receipt by either party if a written receipt is signed therefor. Notices sent by United States mail or national courier service for next day or next business day delivery shall be deemed to have been given on such next day or next business day, as the case may be, following deposit. Any party hereto may change its address for the service as aforesaid by giving written notice to the other of such change of address in accordance with the provision of this Section 12. 13. MISCELLANEOUS. A. This written Agreement constitutes the entire agreement between the parties and supersedes any prior oral or written agreements between the Parties regarding the Property. There are no verbal agreements which can or will modify this Agree ment and no waiver of any of its terms will be effective unless in a writing executed by the Parties. B. The Parties acknowledge and agree that Buyer’s project on the Property is a private development and hereby renounce the existence of any form of agency relationship, joint venture, or partnership between Buyer and Seller and agree that nothing contained herein or in any document executed in connection herewith shall be construed as creating any such. C. No member, official, or employee of Seller or the City of South Bend, Indiana may have any personal interest, direct or indirect, in this Agreement, nor shall any such member, official, or employee participate in any decision relating to this Agreement which affects his or her personal interests or the interests of any corporation, limited liability company, partnership, or association in which he or she is, directly or indirectly, interested. No member, official, or employee of Seller or the City of South Bend, Indiana shall be personally liable to Buyer, or any successor in interest, in the event of any default or breach by Buyer or for any amount which may become due to Buyer, or its successors and assigns, or on any obligations under the terms of this Agreement. D. Buyer and Seller represent and warrant to one another that neither has engaged or dealt with any broker or other person who would be entitled to any brokerage fee or commission with respect to the finding, negotiation or execution of this Agreement or the consummation of the transactions contemplated hereby. E. This Agreement shall be construed and enforceable in accordance with the laws of the State of Indiana. Any action to enforce the terms or conditions of this Agreement or otherwise concerning a dispute under this Agreement will be commenced in the courts of St. Joseph County, Indiana, unless the parties mutually agree to an alternative method of dispute resolution. Both parties hereby waive any right to trial by jury with respect to any action or proceeding relating to this Agreement. F. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Nothing in this Agreement, express or implied, is intended or shall be construed to confer upon any person, firm, or corporation other than the parties hereto and their respective successors or assigns, any remedy or claim under or by reason of this Agreement or any term, covenant, or condition hereof, as third-party beneficiaries or otherwise, and all of the terms, covenants, and conditions hereof shall be for the sole and exclusive benefit of the parties herein. Except for an assignment by Buyer to an entity of which Buyer has a controlling interest, Buyer may not assign its rights and obligations under this Agreement without Seller's prior written consent. In the event Buyer wishes to obtain Seller’s consent regarding a proposed assignment of this Agreement, Seller may request, and Buyer shall provide, any and all information reasonably demanded by Seller in connection with the proposed assignment and/or the proposed assignee. The unenforceability or invalidity of any provisions hereof shall not render any other provisions herein contained unenforceable or invalid. G. It is the intent of Buyer and Seller that this Agreement shall be binding on both parties and not illusory. Buyer and Seller acknowledge that Buyer and Seller will expend significant time, effort and expense in performing their respective obligations under this Agreement, which constitutes legally adequate consideration. H. If any term or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining terms and provisions of this Agreement shall continue in full force and effect unless amended or modified by mutual consent of the Parties. I. This Agreement and any and all documents and signatures relating thereto may be transmitted by electronic mail. All such documents and signatures transmitted by electronic mail shall deemed to be originals. This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same agreement. J. Time is of the essence as to all terms and conditions of this Agreement. K. Sections 9, 10, 12, and 13 shall survive the termination of this Agreement. [Signatures on the following page(s)] IN WITNESS WHEREOF, the Parties have signed this Real Estate Purchase Agreement to be effective as of the date last set forth below. SELLER: SOUTH BEND REDEVELOPMENT COMMISSION Dated this ___ day of _____, 2025. __________________________________ Troy Warner, President ATTEST: __________________________________ Eli Wax, Secretary BUYER: KCG DEVELOPMENT, LLC, a Florida Limited Liability Company By: ___________________________ Printed: ___________________________ Title: ___________________________ Dated this _____ day of _____, 2025. Exhibit A Description of Property Address: 2018 S Main St Parcel Number: 018-8011-0484 State Parcel: 71-08-13-355-002.000-026 Legal Description: Lot 29 Bowmans Add To Town Myler Now Pt City South Bend Address: 2020 S Main St Parcel Number: 018-8011-050001 State Parcel: 71-08-13-355-003.000-026 Legal Description: Lot 26 Thru 28 Bowman Add To Town Of Myler Now Pt Of City Of So Bend Address: 18 VAC LOT 96X165 MAIN ST Parcel Number: 018-8011-0500 State Parcel: 71-08-13-355-004.000-026 Legal Description: Lots 24 And 25 Bowman Add To The Town Of Myler Exhibit B Form of Special Warranty Deed 1 SPECIAL WARRANTY DEED THIS INDENTURE WITNESSETH, that the City of South Bend, Department of Redevelopment, by and through its governing body, the South Bend Redevelopment Commission, 1400 S. County- City Building, 227 W. Jefferson Boulevard, South Bend, Indiana (the “Grantor”) CONVEYS AND SPECIALLY WARRANTS to KCG Development, LLC , a Florida Limited Liability Corporation and/or its permitted assigns with its mailing address at 9311 N Meridian Street, Suite 100, Indianapolis, IN 46260 (the “Grantee”), for and in consideration of One Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the following real estate located in St. Joseph County, Indiana (the “Property”): Address: 2018 S MAIN ST Parcel Number: 018-8011-0484 State Parcel: 71-08-13-355-002.000-026 Legal Description: Lot 29 Bowmans Add To Town Myler Now Pt City South Bend Address: 2020 S MAIN ST Parcel Number: 018-8011-050001 State Parcel: 71-08-13-355-003.000-026 Legal Description: Lot 26 Thru 28 Bowman Add To Town Of Myler Now Pt Of City Of So Bend Address: 18 VAC LOT 96X165 MAIN ST Parcel Number: 018-8011-0500 State Parcel: 71-08-13-355-004.000-026 Legal Description: Lots 24 And 25 Bowman Add To The Town Of Myler Grantor, as its sole warranty herein, specially warrants to Grantee, and to Grantee’s successors and assigns, that Grantor will forever defend title to the Property against those claims, and only those claims, of all persons who shall claim title to or assert claims affecting the title to the Property, or any part thereof, under, by or through, or based upon the acts of Grantor, but not otherwise, subject to the all current, non-delinquent real estate taxes and assessments. Grantor and Grantee covenant and agree that Grantor conveys the Property to Grantee subject to the requirement that Grantee, and its successors and assigns, may use the Property solely for (i) income-based, multi-family housing, and market-rate multifamily housing; and (ii) any other use consented to in writing by Grantor, and Grantee shall not discriminate in the lease, rental, use, occupancy, or enjoyment of the Property or any improvements constructed on the Property. This restriction will at all times be subject to any mortgages recorded against the Property, and any foreclosure or deed in lieu of foreclosure with regard to any such mortgage shall automatically without further action terminate this restriction. Pursuant to Section 9 of the Real Estate Purchase Agreement, the Grantor conveys the Property to the Grantee by this deed subject to certain conditions subsequent. In the event that Grantee fails to perform the Property Improvements, or satisfactorily to prove such performance, 2 then in accordance with Section 10 of the Real Estate Purchase Agreement, the Grantor shall have the right to re-enter and take possession of the Property and to terminate and revest in the Grantor the estate conveyed to the Grantee by this deed and all of the Grantee’s rights and interests in the Property without offset or compensation for the value of any improvements to the Property made by the Grantee. The recordation of a Certificate of Completion in accordance with Section 9 of the Real Estate Purchase Agreement will forever release and discharge the Grantor’s reversionary interest stated in this paragraph. Each of the undersigned persons executing this deed on behalf of the Grantor represents and certifies that s/he is a duly authorized representative of the Grantor and has been fully empowered, by proper action of the governing body of the Grantor, to execute and deliver this deed, that the Grantor has full corporate capacity to convey the real estate described herein, and that all necessary action for the making of such conveyance has been taken and done. [Signature page follows.] 3 GRANTOR: CITY OF SOUTH BEND, DEPARTMENT OF REDEVELOPMENT ______________________________ Troy Warner, President ATTEST: ______________________________ Eli Wax, Secretary STATE OF INDIANA ) ) SS: ST. JOSEPH COUNTY ) Before me, the undersigned, 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 and acknowledged the execution of the foregoing Special Warranty Deed. IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the _____ day of ______________, 20____. My Commission Expires: ____________________________________ Notary Public _______________________ Residing in St. Joseph County, Indiana I affirm, under the penalties for perjury, that I have taken reasonable care to redact each Social Security number in this document, unless required by law. /s/ Danielle Campbell Weiss This instrument was prepared by Danielle Campbell Weiss, Senior Assistant City Attorney, 1200 S. County- City Building, 227 W. Jefferson Blvd., South Bend, Indiana 46601. South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE: 6/9/2025 FROM: Joseph Molnar – Assistant Director, Growth & Opportunity SUBJECT: Opening of Bids 4022 Old Cleveland 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: Opening of bids for 4022 Old Cleveland Road SPECIFICS: The Redevelopment Commission (RDC) on May 22 approved the Bid Specifications, Notice of Intended Disposition, and a resolution establishing the offering price for property located at 4022 Old Cleveland. Those documents set June 12 at 9:00 a.m. for the deadline for all bids. Any and all bids will be opened publicly at the June 12 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: 06/12/2025 FROM: Caitlin Wyant, EI; Gemma Stanton, EI Public Works – Engineering SUBJECT: Dylan Drive LighƟng Improvements 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 determinaƟon of availability; if funds are unavailable, as solely determined by the City Controller, then the authorizaƟon of the expenditure of such funds shall be void and of no effect. PURPOSE OF REQUEST: RequesƟng addiƟonal funding for lighƟng improvements on Dylan Drive (between Brick Road and Adams Road), Carbonmill Drive, Parkland Drive, and Chet Waggoner Drive SPECIFICS: The esƟmated cost of this project from the consultant (JPR) is $478,660 with a 10% conƟngency. Combining 2024 and 2025 Light Up South Bend funds, and funds already allocated for this project as listed in DFO, an addiƟonal $140,500 is needed to bid this project. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION Redevelopment Commission Agenda Item DATE: 05/28/25 FROM: Eric Horvath SUBJECT: Budget Request Funding Source* (circle one) River West; River East; South Side; Douglas Road; West Washington; RDC General *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: We are requesting $500,000.00 to supplement the $600,000.00 raised by the South Bend Community Tennis Association (SBCTA) and the $500,000.00 grant awarded by Visit South Bend Mishawaka for the Leeper Park Tennis Courts Reconstruction Project [Proj. No. 124-022]. This project will expand recreational opportunities for South Bend residents and provide inclusive access for youth from diverse backgrounds to experience the joys and benefits of tennis. INTERNAL USE ONLY: Project ID: PROJ ; Total Amount – New Project Budget Appropriation Total Amount – Existing Project Budget Change (increase or decrease) Funding Limits: Engineering: $_____________________; Other Prof Serv Amt $_______________; Acquisition of Land/Bldg (circle one) Amt: $___________; Street Const Amt $________________; Building Imp Amt $_________; Sewers Amt $_________; Other (specify) Amt $ ________________ _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION Redevelopment Commission Agenda Item DATE: June 12, 2025 FROM: Sarah Barber SUBJECT: Boys and Girls Clubs System Development Charges Funding Source* (circle one) River West; River East; South Side; Douglas Road; West Washington; RDC General *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 Works is requesting $8,019 from RDC for the system development charges (SDC) required to cover the water and sewer change fees for the development of the Boys and Girls Clubs at 250 E. Sample Street. The Boys and Girls Clubs is acquiring the property for an off-school suspension program during the day and additional adolescent programming. The Boys and Girls Clubs is a non-profit organization whose growth has a positive impact on the community. Public Works is not able to waive SDCs per the ordinance language. This is a unique case that Public Works is requesting the $8,019 funding from RDC for these SDCs. _________________________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: 6/9/2025 FROM: Joseph Molnar, Assistant Director Growth & Opportunity SUBJECT: Budget Request Advantix Development 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: $250k Budget Request to support the Advantix Development Project SPECIFICS: On July 11, 2023, the Board of Public Works approved a Purchase Agreement with Advantix Development Corporation for the sale of City owned 35 parcels and on July 13, 2023, the RDC also approved a Purchase Agreement with Advantix for 8 parcels in support of a scattered site Low Income Housing Tax Credit (LIHTC) application. In November of 2023, Advantix was awarded LIHTC credits by the State of Indiana for the project. In total, the project will consist of 50 low-income housing units built throughout northwest and westside neighborhoods in South Bend on a lease to own model with a total construction cost of over $14,000,000. Advantix has also worked with City planning to ensure that the houses are built to match the neighborhood character of the neighborhoods. With that intention, Advantix is using the City of South Bend Pre-Approved housing plans. The requested $250,000 will be used to aid Advantix to ensure the quality of the construction of the housing units. Construction is expected to begin later this summer. The Advantix project will activate long vacant properties, provide quality affordable housing opportunities for South Bend residents, and invest significant resources on the near west and west side of the City. Staff recommends approval. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION RESOLUTION NO. 3642 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION DETERMINING THAT THE TAX INCREMENT WHICH MAY BE COLLECTED IN THE YEAR 2026 IS NEEDED TO SATISFY OBLIGATIONS OF THE COMMISSION AND THAT NO EXCESS ASSESSED VALUE MAY BE ALLOCATED TO THE RESPECTIVE TAXING UNITS AND OTHER RELATED MATTERS WHEREAS, the South Bend Redevelopment Commission (the "Commission"), the governing body of the South Bend, Indiana, Department of Redevelopment (the "Department") and of the Redevelopment District of the City of South Bend, Indiana (the ''Redevelopment District"), exists and operates under the provisions of IC 36-7-14, as amended from time to time (the "Act"); and WHEREAS, the Commission has previously adopted resolutions, which have been amended from time to time, declaring various portions of the City of South Bend to be economic development areas or redevelopment areas within the meaning of the Act (the "Areas") and designated territory within such Areas as allocation areas (the "Allocation Areas") under Section 39 of the Act, which Allocation Areas are listed in Exhibit A attached hereto; and WHEREAS, the Commission, in accordance with the Act, has previously established an allocation fund for each of the Allocation Areas (the "Allocation Funds"); and WHEREAS, Section 39 of the Act requires the Commission to determine the amount, if any, by which the assessed value of the taxable property in the Allocation Areas for the most recent assessment date minus the base assessed value, when multiplied by the estimated tax rate of the respective Allocation Areas, will exceed the amount of assessed value needed to produce the property taxes necessary to make, when due, principal and interest payments on bonds payable from the Allocation Fund, plus the amount necessary for other purposes described in Section 39 of the Act; and WHEREAS, Section 39 of the Act requires the Commission to provide to the St. Joseph County Auditor, the Common Council, the Department of Local Government Finance, and the fiscal officers for each taxing unit located wholly or partly within the respective Allocation Areas written notice stating (i) the amount, if any, of excess assessed value that the Commission has determined may be allocated to the respective taxing units in the manner prescribed in Section 39 of the Act, or (ii) that the Commission has determined that there is no excess assessed value that may be allocated to the respective taxing units in the manner prescribed in Section 39 of the Act; and NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1. The Commission hereby determines that there is no excess assessed value in the Allocation Areas that may be allocated to the respective taxing units in the manner prescribed in Section 39 of the Act because the Commission hereby finds that, for each respective Allocation Area, the assessed value of the taxable property in the Allocation Area for the most recent assessment date minus the base assessed value, when multiplied by the estimated tax rate of the Allocation Area, will not exceed the amount of assessed value needed to produce the property taxes necessary to make, when due, principal and interest payments on bonds payable from the Allocation Fund of the Allocation Area, plus the amount necessary for other purposes described in Section 39 of the Act. Accordingly, for tax year payable 2026, the Commission determines that no amount of assessed value of the Allocation Areas will be allocated to the respective taxing units in the manner prescribed in Section 39 of the Act. In making this determination, the Commission has considered the effect that such determination will have on the property tax rate in the Redevelopment District. 2. This determination for 2026 shall not be construed to affect any future determination of the Commission with respect to the capture of assessed value of the taxable property in the Allocation Areas in the years following 2026. 3. The President or Vice President of the Commission is hereby authorized and directed to immediately notify or cause to be notified the St. Joseph County Auditor, the South Bend Common Council, the Department of Local Government Finance, and the officers who are authorized to fix budgets, tax rates, and tax levies under Indiana Code 6-1.1-17-5 for each of the other taxing units wholly or partly located within the Allocation Areas of the determinations made herein by the Commission, by way of a letter in substantially the form attached hereto as Exhibit B, which notice is intended to satisfy the requirements of Section 39 of the Act. Further, the Commission acknowledges that, based on its determination herein, no notice is due to the St. Joseph County Auditor under 50 IAC 8-2-4(b). ADOPTED AND APPROVED at a meeting of the South Bend Redevelopment Commission held virtually and in person at 1308 County-City Building, 227 W Jefferson Boulevard, South Bend, Indiana on the 12th day of June 2025. CITY OF SOUTH BEND DEPARTMENT OF REDEVELOPMENT __________________________________ President ATTEST: __________________________________ Secretary EXHIBIT A Allocation Areas 1) River West Development Area 2) Riverwalk Allocation Area 3) West Washington Chapin Development Area 4) River East Development Area Allocation Area #1 5) River East Development Area Allocation Area #2 6) South Side General Development Area #1 7) Douglas Road Economic Development Area EXHIBIT B (Form of Letter) Date Mr./Ms. [Name] Taxing Unit Address Subject: Request Regarding Capture of Incremental Assessed Value for the City of South Bend Dear Mr./Ms. [Name], In accordance with the provisions of Indiana Code Section 36-7-14-39, the South Bend Redevelopment Commission has determined by Resolution No. 3642, passed June 12, 2025, that there is no excess assessed value that may be allocated to the respective taxing units in the manner prescribed in Indiana Code Section 36-7-14-39(b)(1). The Allocation Areas of the City of South Bend covered by this letter are as follows: River West Development Area Riverwalk Allocation Area West Washington Chapin Development Area River East Development Area Allocation Area #1 River East Development Area Allocation Area #2 South Side General Development Area #1 Douglas Road Economic Development Area Thank you. Sincerely, South Bend Redevelopment Commission Troy Warner President