HomeMy WebLinkAbout5A3 Certificate of Completion (Momentum Entrepreneurship Hub) - SignedSouth Bend
Redevelopment Commission
215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana
Redevelopment Commission Agenda Item
D ATE : 12/3/25
FROM: Joseph Molnar – Assistant Director of Growth
& Opportunity
SUBJECT: Certificate of Completion – Momentum South
Bend
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: Issue Certificate of Completion for Momentum South Bend
SPECIFICS: On May 11, 2023, the RDC and Momentum Development Group entered into a Real Estate
Purchase Agreement (the “Agreement”) for property located at 510 S Main Street in order to redevelop
the property into a mixed-use building consisting of retail space, office space, and a commissary kitchen.
Momentum Development Group has completed the redevelopment of the building and has performed all
of the Buyer’s Post-Closing Development Obligations as required under the Purchase Agreement and
provided the appropriate documentation.
-Within Thirty-Six (36) Months after Closing expend no less than $6,000,000 on improvements to
the site
o Momentum Development Group expended greater than $6,000,000 on improvements to
the site and have provided documentation demonstrating the expenses.
-Commence Construction within Twelve Months of Closing Date
o Momentum Development Group began construction within Twelve (12) months of Closing
Date
-Complete Construction within Thirty-Six Months of Closing Date
o Momentum Development Group completed construction within Thirty-Six months of
Closing Date
Staff requests approval.
______________ ___________Pres/V-Pres
ATTEST: __________ ________Secretary
Date: _____________ _______
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
December 11, 2025
CROSS REFERENCE:
Document No.2023-17136, recorded July 28, 2023
CERTIFICATE OF COMPLETION
This Certificate of Completion (this “Certificate”) is issued on December 11, 2025, by the
City of South Bend, Indiana, Department of Redevelopment, acting by and through its governing
body, the South Bend Redevelopment Commission (the “Commission”), pursuant to that certain
Real Estate Purchase Agreement by and between the Commission and Momentum Development
Group (the “Buyer”), dated May 11, 2023 (the “Agreement”).
The Commission states as follows:
1.Pursuant to the Agreement, the Commission conveyed to the Buyer the real
property described in attached Exhibit A (the “Property”) by the special warranty deed recorded
on July 28, 2023 as Document No. 2023-17136 in the Office of the Recorder of St. Joseph County,
Indiana (the “Deed”).
2.Section 11 of the Agreement established certain obligations of the Buyer following
its acceptance of the Deed from the Commission (the "Buyer’s Post-Closing Development
Obligations"). The Commission hereby acknowledges and affirms that the Buyer has performed
all of the Buyer’s Post-Closing Development Obligations as required under the Agreement and
has provided satisfactory evidence of the same.
3. This Certificate will serve as a conclusive determination of the Buyer’s satisfaction
of the Buyer’s Post-Closing Development Obligations and, upon recordation, will constitute a full
release of the Commission’s reversionary interest in the Property established under the Deed and
Section 11 of the Agreement.
4.This Certificate does not amend or otherwise alter the Agreement, and this
Certificate shall be binding upon the Commission and its successors and assigns and shall inure to
the benefit of the Buyer and her successors in interest.
[Signature page follows.]
EXHIBIT A
Description of Property
Tax ID No. 018-3017-0618
Parcel Key Number: 71-08-12-306-001.000-026
Legal Description: W. 128' Lot 31, All Lots 32 & 33 & N. 1/2 Vac. Alley So. & Adj. Martins
Addition
Commonly known as: 510 S MAIN STREET