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HomeMy WebLinkAboutRedevelopment Commission Agenda & Packet 02.12.26 - Revised South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Agenda Regular Meeting February 12, 2026 – 9:30 a.m. City Hall Council Chambers 3rd Floor or via: https://tinyurl.com/RDC2025-2026-Meetings Meeting Recording Link: https://tinyurl.com/RDC-Meeting-Recordings 1. Roll Call • Troy Warner, President – (Council) Jan. 2026 to Dec. 2026 • Dave Relos, Vice President – (Mayor) Jan. 2026 to Dec. 2026 • Eli Wax, Secretary – (Mayor) Feb. 2026 to Dec. 2026 • Gillian Shaw, Commissioner – (Mayor) Jan. 2026 to Dec. 2026 • Ophelia Gooden-Rodgers, Commissioner – (Council) Feb. 2026 to Dec. 2026 • Marcus Ellison, Non-Voting Advisor – (School Board) Feb. 2026 to Dec. 2026 2. Approval of Minutes A. Minutes of the Regular Meeting of January 22, 2026 3. Approval of Claims A. Claims Allowance February 3, 2026 4. Old Business A. None 5. New Business A. River West Development Area 1. Public Hearing and Adopt Confirming Resolution No. 3664 (River West Economic Development Area, New Allocation Areas for IDD) 2. Resolution No. 3665 (Pledging Certain Tax Increment Revenues To The Payment Of Certain Taxable Economic Development Revenue Bonds Of The City Of South Bend For The Colfax Corner ML, LLC Project) 3. Opening of Bids (1818 W. Sample St.) 4. Budget Request (Western Ave. Transformation, Phase I) 5. Donation Agreement (528 Euclid Ave.) 6. Amendment to Development Agreement (321 West Wayne) 7. Budget Request (Studebaker Museum HVAC Repairs) 6. Progress Reports A. Tax Abatement B. Common Council South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Page | 2 C. Other 7. Next Commission Meeting Thursday, February 26, 2026, 9:30 a.m. at Council Chambers, Room 301 8. Adjournment NOTICE FOR HEARING AND SIGHT IMPAIRED PERSONS Auxiliary Aid or Other Services are Available upon Request at No Charge. Please Give Reasonable Advance Request when Possible. South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Minutes Regular Meeting January 22, 2026 – 9:30 a.m. City Hall Council Chambers 3rd Floor or via: https://tinyurl.com/RDC2025-2026-Meetings Meeting Recording Link: https://tinyurl.com/RDC-Meeting-Recordings The South Bend Redevelopment Commission was called to order at 9:30 a.m. President Troy Warner presiding. 1. ROLL CALL Members Present: Troy Warner, President Dave Relos, Vice President Eli Wax, Secretary Gillian Shaw, Commissioner Ophelia Gooden-Rodgers, Commissioner Marcus Ellison, Non-Voting Advisor Legal Counsel: Jenna Throw, City Attorney Redevelopment Staff: Erik Glavich, Director of Growth and Opportunity, DCI - Virtual Lewis Kouassi, Director of Finance, DCI Joseph Molnar, Asst. Dir. of Growth and Opp., DCI Erin Michaels, Property Development Manager, DCI Abigail Magas, City Engineer Leslie Biek, Assistant City Engineer Darryl Scott, Chief of Staff Bianca Jones, Interim Officer of Diversity, Compliance & Inclusion Laura Hensley, Board Secretary, DCI Nicolas Munsen, Assistant City Attorney Attending: Tim Widerquist, , Widerquist Development, LLC Karl Widerquist, , Widerquist Development, LLC Matt Barrett, 110 S. Niles Ave. Tina Patton, 7070 Sherman Ave. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – January 22, 2026 Page | 2 2. Approval of Minutes A. Approval of Minutes of the Regular Meeting of Thursday, January 8, 2026 Upon a motion by Ophelia Gooden-Rodgers for approval, second by Eli Wax, the motion carried unanimously; the Commission approved the minutes of the regular meeting of January 8, 2026. 3. Approval of Claims A. Claims Allowances January 14, 2026 Upon a motion by Ophelia Gooden-Rodgers for approval second by David Relos, the motion carried unanimously; the Commission approved the claims allowances of January 14, 2026. 4. Old Business A. None 5. New Business A. River West Development Area 1. Resolution No. 3663 (Establishing the Offering Price, Approving Bid Specifications, and Approving Notice of Intended Disposition of 1818 W. Sample St.) Erin Michaels, Property Development Manager, presented the proposed disposition of a City-owned parcel at 1818 W. Sample St. The property is located along West Sample St. near the Ice Box and the Lippert plant. The RDC acquired the 2.71-acre parcel in 2002. It is zoned Industrial (I). Historical aerials show it remained vacant until 1972, when it was converted into a parking lot, which has been its sole use ever since. We now have interest in redeveloping the site for a more productive purpose. Disposition is the first required step in that process. The minimum bid is $71,325, which is the average of two recent appraisals. Bids are due February 12, 2026, at 9:00 AM and will be opened publicly at the RDC meeting at 9:30 AM that same day. President Warner inquired about the disposition process and Ms. Michaels stated, that State law requires the Redevelopment Commission to offer any Commission-owned parcel for disposition before we can begin negotiations. To do that, we present a resolution to the Commission. If approved, we publish a Notice of Intended Disposition in the South Bend Tribune for two consecutive Fridays. During that period, we accept bids from interested parties. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – January 22, 2026 Page | 3 All bids must follow the requirements in the disposition packet, which will be available online and in physical form at City Hall. If we receive any bids, we will open them publicly at the February 12th RDC meeting and review them for compliance. If we receive no bids, state law requires a 30-day waiting period. After those 30 days, we may begin negotiations, and at that point the minimum bid price is no longer fixed at $71,325. This allows flexibility in negotiating the purchase price and terms. Tina Patton stated that she noticed in the notes that there has been interest in redeveloping this property. Her question is: does that interest involve a bar, a gas station, or any other use that wouldn’t be considered family-friendly? Joseph Molnar, Assistant Director of Growth and Opportunity, explained that the interest we’ve received so far has not involved any of those types of uses. However, one of the reasons we’re moving this property through the formal disposition process is that we cannot discuss or negotiate with anyone until that process is complete. This resolution is the first step. Ultimately, the Commission has full authority over whether to sell the property, and any interested party would be required to clearly state their intended use up front. If someone proposed a gas station or liquor store, staff would be unlikely to recommend that use. But final approval rests with the Redevelopment Commission. Upon a motion by David Relos for approval, seconded by Ophelia Gooden-Rodgers, the motion carried unanimously; the Commission approved Resolution No. 3663 as presented on January 22, 2026. 2. Purchase Agreement for 534 Laporte Ave. (Widerquist Development, LLC) Erin Michaels, Property Development Manager, explained that this property went through disposition a few months ago. It is a small former service station on LaPorte Ave., just north of City Cemetery. The parcel is approximately 0.11 acres and includes a 250-square-foot structure. It is zoned Urban Neighborhood Flex. The Board of Public Works acquired the former pump station in 2017, removed the underground tanks, and transferred it to the RDC in 2023 to support potential redevelopment. Widerquist Development is a local developer with more than 30 renovated properties in South Bend, many of them located just down the street from this site. The photos illustrate the before-and-after improvements they have completed on other buildings in the area, highlighting their work on both exterior and interior upgrades. Purchase Agreement – Key Terms • Purchase Price: $2,000 CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – January 22, 2026 Page | 4 • Minimum Investment: $20,000 • Planned Use: Renovate the building into an office for their business • Due Diligence Period: 60 days • Closing Deadline: 30 days after due diligence • Construction Start: Within 12 months of closing • Construction Completion: Within 24 months of closing • Certificate of Completion: Required from the RDC once the project is finished Tim Widerquist added that he’s been investing in this intersection for about ten years, and this property has been an ongoing eyesore. Mr. Widerquist buys and rents residential properties nearby, and its poor condition makes it harder for him to rent his places across the street. Cleaning it up and relocating his office would improve the appearance of his properties and the neighborhood overall. LaPorte and Walnut are important intersections coming out of downtown. There’s renewed energy in the area, and he believes this site can serve as an anchor for cleanliness and continued improvement. Commissioner Gooden-Rodgers spoke in favor of the project. Secretary Wax asked what the average appraisals were when the property was put through disposition and Ms. Michaels stated $5,000. Vice President Relos asked if utilities would be needed, what hours the office would be open, and if there was a historic designation on this site. Mr. Widerquist stated that his plans will be a leasing office with hours of operation by appointment and that water and electric will be needed at this site. Ms. Michaels confirmed that there are no historic designations at this property. Upon a motion by Gillian Shaw for approval, seconded by Eli Wax, the motion carried unanimously; the Commission approved the Purchase Agreement as presented on January 22, 2026. B. River East Development Area 1. Budget Request (Mishawaka Streetscape) Leslie Biek, Assistant City Engineer, presented a request for an additional appropriation to cover project change orders. This project was bid in February, with limits from Longfellow to Emerson. The West side, from Longfellow to the overpass, received full streetscape treatment. East of the railroad tracks to Emerson, we completed a lighter streetscape focused mainly on utility connections. The project included a new bike path on the south side of the road, upgraded utilities, and our standard streetscape elements. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – January 22, 2026 Page | 5 The work is substantially complete, but a few remaining items will be finished once materials arrive or when weather allows in the Spring. The largest unforeseen cost came from removing old railroad ties left from the former trolley. We knew the trolley had run through the corridor and estimated removal needs, but once construction began, we found the ties conflicted with nearly all work on the south side of the road—and they were fully encased in concrete. Partial removal wasn’t feasible and would have cost as much as full removal while also delaying the project, so we removed the entire section. This item alone accounted for about $380,000, roughly half of the total change orders. The financial summary shown here reflects updated funding, including preliminary engineering dollars from River East and transferred funds from the Kelly’s Pub project, due to shared site work. We are requesting an additional $200,000 to complete the project. Vice President Relos asked, what is left to do in the Spring. Ms. Biek stated trees will be planted in the Spring rather than the Fall. A small amount of paver work is still underway. The main delay is the new signal arm—right now the intersection is operating as a temporary four-way stop with LED flashers. Once the signal arm arrives, we’ll be able to put the traffic signal into full operation at Longfellow. Permanent striping will also be completed in the Spring. As for sidewalks, we installed new sidewalk on the west side of the tracks, and a significant amount on the south side east of the tracks where it was needed for utility work. We also added some on the North side based on project needs. Commissioner Shaw asked what we could learn from this mistake and Ms. Biek explained that Engineering did take some pavement cores, but they focused on areas where the new utilities were being installed, which was mostly in the center of the roadway—not where the old trolley tracks were located. We can definitely take additional cores, especially near inlets and other locations where we may have conflicts underground, to get a better understanding of what remains beneath the surface. Matt Barrett asked, it appears this work has already been completed, so he’s wondering what the process is for handling change orders. Additionally, if the Redevelopment Commission does not approve the funding, where would the money come from? Ms. Biek responded, since the work has already been completed and the City has directed its removal, if the Commission does not approve this request, we will need CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – January 22, 2026 Page | 6 to identify an alternative funding source to cover the cost. The change order will follow our standard project procedure and be approved through the Board of Public Works. Commissioner Wax also spoke in favor of policy for appropriations. Upon a motion by David Relos for approval, seconded by Gillian Shaw, the motion carried unanimously; the Commission approved the Budget Request as presented on January 22, 2026. C. Redevelopment General Fund (a.k.a Pokagon-South Bend Fund) 1. Budget Request (2026 Business Assistance Suite) Bianca Jones, Interim Officer of Diversity, Compliance & Inclusion, presented an overview of the Small Business Assistance Suite. This program has been operating for about four and a half years and is structured as a cohort-based business readiness program designed to build capacity for local businesses. We don’t provide grants; instead, we focus on business readiness and improving access to capital. Our program includes workshops on legal compliance, business operations, financial management, marketing, and more. Each participant is paired with a business coach who helps with goal-setting, progress tracking, and coordinating support services such as legal and accounting assistance from licensed professionals. So far in 2025, we’ve supported 77 businesses through coaching and professional services. Three businesses accessed the City’s revolving loan fund, and six were connected to resources for MBE/WBE certification. Overall, we help businesses strengthen their financial and operational systems, increase their use of professional service providers, and prepare for funding, contracting, and staffing opportunities. Key outcomes are that we track the number of businesses completing the cohort, readiness milestones like financial systems and legal documentation, and businesses pursuing contract or funding opportunities. We also measure growth in hiring and engagement with professional service providers. Ms. Jones is requesting a $100,000 allocation from the Pokagon South Bend Fund to sustain and scale the program. This funding will support cohort-based training, program oversight, and reporting. We plan to serve at least 40 businesses, with approximately $2,000 invested per business, and continue strengthening the local pipeline of contract-ready and capital-ready businesses. Secretary Wax asked, do you recall last year’s allocation? Ms. Jones responded that the Small Business Assistance Suite received $85,000 in CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – January 22, 2026 Page | 7 2025. Regarding the $2,000 per business for direct readiness support: each participant typically receives about ten hours of coaching, at roughly $75 per hour. We also cover professional service costs, for example, setting up financial systems like QuickBooks or Wave, which we provide at no cost for several months. Participants may also work with attorneys for contracts, partnership agreements, and similar needs. The $2,000 reflects the value of these services, not direct cash assistance. These services are not provided by City staff. We contract with outside providers. For the past several years, the program has been administered by the IMPower Center, which recruits coaches and professional service providers. We vetted them to ensure they meet program requirements, and then they are brought on accordingly. Commissioner Shaw asked for more details on why the program plans to increase support per business while serving fewer businesses overall. Ms. Jones replied that, previously, the program worked more like an à-la-carte model—businesses received one-off services, such as legal help, but we had limited follow-up and mixed long-term results. By reducing the number of participants, we can provide deeper, more consistent support and track outcomes throughout the year. We also found that many businesses reapplied because the initial assistance wasn’t enough. Although we’ve had about 800 applications, the actual number of unique businesses is closer to 500–600, since many returned seeking additional help. Commissioner Gooden-Rodgers asked, of the 77 businesses you mentioned, how are you measuring success? Are these businesses still operating, and where is this program advertised? If someone wants to start a small business, how would they know how to get involved? Ms. Jones explained that our follow-up shows that most of the businesses we supported last year are still operating. At the end of each year, we send a questionnaire to check on their progress. Many have secured new contracts—both private and City-related—and six have completed MBE/WBE certification. Several have also accessed the Revolving Loan Fund or expanded their business activity. Currently, we advertise mainly through Facebook and word of mouth, and we’re working to strengthen our marketing strategy. Because many participants are newer businesses, we also coordinate with ecosystem partners who focus on early-stage startups. For example, programs like the South Bend Entrepreneurship Adversity Program help entrepreneurs get registered with the Secretary of State, and once they complete that program, they qualify for ours. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – January 22, 2026 Page | 8 Commissioner Shaw asked the question, how are businesses prioritized when there are far more applicants than available spots. Ms. Jones explained that the 800 applications represent four years of submissions, with about 100 last year. Previously, the program supported anyone starting a business, but this year it prioritizes businesses that align with City purchasing needs and can create measurable impact. There is no race or gender consideration—the program is open to any small, local business in South Bend. Demographic questions remain on the application only for historical data purposes. Joseph Molnar, Assistant Director of Growth and Opportunity, wanted to clarify, “These funds come specifically from the Pokagon South Bend Fund, which is tied to the City’s agreement with the Four Winds Casino. The agreement states that these dollars must support initiatives that improve educational opportunities and address poverty and unemployment in the city. These funds are separate from our standard TIF resources, and I wanted to make that distinction clear for the public.” Upon a motion by Ophelia Gooden-Rodgers for approval, seconded by Gillian Shaw, the motion carried unanimously; the Commission approved the Budget Request as presented on January 22, 2026. 6. Progress Reports A. Tax Abatement None B. Common Council None C. Update – Ivy Alley Joseph Molnar, Assistant Director of Growth and Opportunity, stated that we will give an update at the February 12, 2026 meeting. 7. Next Commission Meeting Thursday, February 12, 2026, 9:30 a.m., City Hall Council Chambers 3rd Floor 8. Adjournment Thursday, January 22, 2026, 10:11 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, February 3, 2026 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-0127569 $85,435.72 GBLN-0128229 $2,110,272.78 GBLN-0128644 $26,555.98 Total:$2,222,264.48 _______________________________ 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: Attest:_______________________________ Name: Date: Date: RESOLUTION NO. 3664 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION CONFIRMING A DECLARATORY RESOLUTION APPROVING AMENDMENTS TO THE DECLARATORY RESOLUTION AND THE DEVELOPMENT PLAN FOR THE RIVER WEST DEVELOPMENT AREA FOR THE PURPOSE OF ESTABLISHING NEW ALLOCATION AREAS AND RELATED MATTERS 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 Indiana Code 36-7-14, as amended from time to time (the “Act”); and WHEREAS, the Commission has heretofore adopted a declaratory resolution (as subsequently confirmed and amended from time to time, the “Declaratory Resolution”) designating an area known as the River West Development Area (the “Area”) as an economic development area pursuant to the Act, designating portions of the Area as allocation areas pursuant to Section 39 of the Act (collectively, the “Allocation Area”), and approving and subsequently amending from time to time a development plan for Area (the “Original Plan”); and WHEREAS, the Commission on December 18, 2025, approved and adopted its Resolution No. 3661 entitled “Resolution of the South Bend Redevelopment Commission Approving Amendments to the Declaratory Resolution and the Development Plan for the River West Development Area for the Purpose of Establishing New Allocation Areas and Related Matters” (the “Amending Declaratory Resolution”), a copy of which is attached hereto as Exhibit A; and WHEREAS, the Amending Declaratory Resolution approved amendments to the Declaratory Resolution previously adopted by the Commission and the Original Plan previously approved by the Commission to (a) designate certain areas, each of which is presently part of the Allocation Area, as separate allocation areas pursuant to Section 39 of the Act to be known as (i) the “Lafayette North Allocation Area” as described and depicted at Exhibit A to the Amending Declaratory Resolution, (ii) the “Lafayette South Allocation Area” as described and depicted at Exhibit B to the Amending Declaratory Resolution, (iii) the “Ignition Park Allocation Area” as described and depicted at Exhibit C to the Amending Declaratory Resolution, (iv) the “Downtown North Allocation Area” as described and depicted at Exhibit D to the Amending Declaratory Resolution, (v) the “Michigan Street Corridor Allocation Area” as described and depicted at Exhibit E to the Amending Declaratory Resolution, (vi) the “Studebaker Campus Allocation Area” as described and depicted at Exhibit F to the Amending Declaratory Resolution, (vii) the “Riverfront West Allocation Area” as described and depicted at Exhibit G to the Amending Declaratory Resolution, and (viii) the “Downtown South Allocation Area” as described and depicted at Exhibit H to the Amending Declaratory Resolution (clauses (i) through and including (viii), collectively, the “Allocation Areas”), and (b) amend the Original Plan to include each of the Allocation Areas therein; and WHEREAS, the South Bend Plan Commission, on January 26, 2026, approved and adopted its resolution (the “Plan Commission Order”) determining that the Amending Declaratory 2 Resolution and the Original Plan, as amended by the Amending Declaratory Resolution (as amended, the “Plan”), conform to the plan of development for the City and approved the Amending Declaratory Resolution and the Plan; and WHEREAS, pursuant to Section 16 of the Act, the Common Council of the City (the “Common Council”), on January 26, 2026, adopted Resolution No. 5160-26 which approved the Amending Declaratory Resolution, the Plan and the Plan Commission Order; and WHEREAS, the Commission has received the written orders of approval as required by Section 17(a) of the Act; and WHEREAS, the Commission caused to be published and delivered the notices required by Section 17 and 17.5 of the Act, concerning the Amending Declaratory Resolution and the Plan; and WHEREAS, at the hearing (the “Public Hearing”) held by the Commission on February 12, 2026, the Commission heard all persons interested in the proceedings and received ____ written remonstrances that had been filed and considered those written remonstrances that were filed, if any, and all evidence presented; and WHEREAS, the Commission now desires to take final action determining the public utility and benefit of the Plan, as amended, and the proposed development activities for each of the Allocation Areas, approving the Plan, and confirming the Amending Declaratory Resolution, in accordance with Section 17 and Section 17.5 of the Act; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, as follows: 1. After considering the evidence presented at the Public Hearing, the Commission hereby confirms the findings and determinations, designations and approving and adopting actions contained in the Amending Declaratory Resolution. 2. After considering the evidence presented at the Public Hearing, the Commission hereby finds and determines that it will be of public utility and benefit to proceed with the proposed activities set forth in the Plan, as amended, and the Plan, as amended, is hereby approved in all respects. 3. The Amending Declaratory Resolution is hereby confirmed. 4. This Resolution constitutes final action, pursuant to Section 17(d) of the Act, by the Commission determining the public utility and benefit of the Plan, as amended, and the proposed activities and confirming the Amending Declaratory Resolution pertaining to the Area. 5. The Secretary of the Commission is directed to record and file the final action taken by the Commission pursuant to the requirements of Section 17(d) of the Act. 6. This resolution shall take effect immediately upon its adoption by the Commission. 3 ADOPTED AND APPROVED at a meeting of the South Bend Redevelopment Commission held on the 12th day of February, 2026. SOUTH BEND REDEVELOPMENT COMMISSION President ATTEST: Secretary EXHIBIT A AMENDING DECLARATORY RESOLUTION NO. 3661 (See attached) DMS 50672600v1 RESOLUTION NO. 3665 RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION PLEDGING CERTAIN TAX INCREMENT REVENUES TO THE PAYMENT OF CERTAIN TAXABLE ECONOMIC DEVELOPMENT REVENUE BONDS OF THE CITY OF SOUTH BEND FOR THE COLFAX CORNER ML, LLC PROJECT 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 Indiana Code 36-7-14, as amended from time to time (the “Act”); and WHEREAS, the Commission has heretofore adopted a declaratory resolution (as subsequently confirmed and amended from time to time, the “Declaratory Resolution”) designating an area known as the River West Development Area (the “Area”) as an economic development area pursuant to the Act, designating portions of the Area as allocation areas pursuant to Section 39 of the Act for purposes of capturing ad valorem property taxes levied and collected on all taxable real property from the incremental assessed value, and approving an economic development plan for the Area (the “Plan”); and WHEREAS, the Commission on December 18, 2025, approved and adopted its Resolution No. 3661 for the purpose of making additional amendments to the Area and the Plan including to designate a portion of the Area as a separate allocation area pursuant to Section 39 of the Act to be known as the Lafayette North Allocation Area (the “Lafayette North Allocation Area”) for purposes of capturing ad valorem property taxes levied and collected on all taxable real property from the incremental assessed value located in the Lafayette North Allocation Area; and WHEREAS, the City of South Bend, Indiana (the “City”), the Commission and Colfax Corner ML, LLC (the “Developer”), have entered into a Development Agreement, dated as of December 18, 2025 (the “Development Agreement”), whereby the Developer has agreed that the Developer will undertake the acquisition, development, construction, equipping, renovation, and/or reconstruction of space in the former South Bend Tribune building, along with new construction of an adjacent building along Main and Colfax in the City to include approximately 202,000 rentable square feet of flexible workspace and ground-floor retail to be located in the Lafayette North Allocation Area, as more fully described in the Development Agreement (the “Project”); and WHEREAS, the City is considering the issuance of its City of South Bend, Indiana, Taxable Economic Development Revenue Bonds, Series 2026 (Colfax Corner ML, LLC Project) (with such further series, different series or one or more subseries designation as determined to be necessary or appropriate), in a maximum aggregate principal amount not exceeding Thirty Million Eight Hundred Thousand Dollars ($30,800,000) (the “Bonds”), a portion of the net proceeds of such Bonds to be used for the purpose of financing, refinancing or reimbursing a portion of the costs of the Project, capitalized interest on the Bonds, if necessary, a debt service reserve fund 2 from proceeds of the Bonds or the cost of a reserve surety, if necessary, and costs relating to the issuance of the Bonds; and WHEREAS, as an inducement to the Developer to undertake the Project, the Commission desires to pledge a portion of the Net Project TIF Revenues (as defined herein) to the payment of the principal of and interest on the Bonds; and WHEREAS, prior to the issuance of the Bonds, the Indiana Economic Development Corporpation will take such actions and enter into such agreements necessary to pledge or otherwise obligate the Pledged IDD Revenues (as defined in the Development Agreement) to the payment of the principal of and interest on the Bonds; and WHEREAS, the Commission has determined that the undertaking of the Project, the issuance of the Bonds by the City and the pledge of the Pledged TIF Revenues (as defined herein) in the manner set forth herein will further the purposes of the Declaratory Resolution and the Plan, each as amended; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission, as follows: 1. All terms defined herein and all pronouns used in this Resolution shall be deemed to apply equally to the singular and plural and to all genders. All terms defined elsewhere in this Resolution shall have the meaning given in such definition. In this Resolution, unless a different meaning clearly appears from the context: “Net Project TIF Revenues” shall mean all real property tax proceeds attributable to the assessed valuation of the parcels comprising the Project Site (as defined in the Development Agreement) and located in the Lafayette North Allocation Area as of each assessment date in excess of the base assessed value as described in Indiana Code 36-7-14-39(b)(1) received by the Commission, less RDC/City Direct Costs. “Pledged TIF Revenues” shall mean eighty-eight percent (88%) of the Net Project TIF Revenues. “RDC/City Direct Costs” shall mean all costs of the Commission and the City to pay annual fees of the Trustee with respect to the Bonds, if any, and any fees or reasonable costs incurred in monitoring the Pledged TIF Revenues and the Pledged IDD Revenues in the amount of $3,000 semiannually for the Bonds. “Trustee” means the trustee for the Bonds. 2. The Commission hereby pledges, pursuant to Sections 39(b)(4)(D) of the Act, the Pledged TIF Revenues to the payment of the principal of and interest on the Bonds for a term of years not less than the lesser of the term of the Bonds or twenty-five (25) years from the date of issuance of the Bonds, all pursuant to the terms of the Pledge Agreement (as defined herein) and the trust indenture for the Bonds (the “Indenture”). 3 3. The pledge of the Pledged TIF Revenues made herein shall be effective as set forth in Indiana Code 5-1-14-4 without the recording of this Resolution other than in the records of the Commission or the filing of any other instrument. Notwithstanding the foregoing, in the event that the Pledged TIF Revenues are in excess of the amount necessary to make scheduled principal and interest payments on the Bonds when due and to pay any outstanding amounts due and owing on the Bonds due to shortfalls in Pledged TIF Revenues in previous years (the “Excess TIF Revenues”), the Commission shall first apply such Excess TIF Revenues to the payment of any portion of the principal or interest due on the Bonds that remains unpaid and secondly shall retain any remaining Excess TIF Revenues received and may use such Excess TIF Revenues for any purpose under the Act as provided in the Pledge Agreement and/or the Indenture. 4. The President and Secretary of the Commission are hereby authorized and directed to enter into a pledge agreement on behalf of the Commission (the “Pledge Agreement”) providing that the Pledged TIF Revenues are pledged as described herein and containing such other terms consistent with this Resolution to evidence the intent of the Commission to secure the Bonds with the Pledged TIF Revenues as described herein. 5. The Commission hereby authorizes and approves the execution by the Commission of one or more taxpayer agreements (collectively, the “Taxpayer Agreements”) with the Developer in connection with the issuance of the Bonds by the City in the event it is determined that such a taxpayer agreement is necessary in connection with the issuance and sale of the Bonds. On behalf of the Commission, each of the President or Vice President of the Commission is authorized to execute and deliver, and the Secretary of the Commission is authorized to attest, one or more Taxpayer Agreements in such form as they may find acceptable, with the advice of counsel and consistent with the terms and provisions of this Resolution and the Development Agreement. Any payments received by the Commission under any such Taxpayer Agreements are hereby pledged to the payment of the Bonds if and to the extent such Bonds are so secured by the Taxpayer Agreements under the Indenture. 6. Any officer of the Commission is hereby authorized to take such further actions and execute on behalf of the Commission such further documents or agreements as any such officer deems necessary or appropriate to effectuate the purposes of this Resolution. 7. This Resolution shall be deemed to take effect immediately upon adoption by the Commission. The provisions of this Resolution shall constitute a contract binding between the Commission and the holder or holders of the Bonds and after the issuance of said Bonds, this Resolution shall not be repealed or amended in any respect which would adversely affect the right of such holder or holders of said Bonds. ******* 4 ADOPTED AND APPROVED at a meeting of the South Bend Redevelopment Commission held on the 12th day of February, 2026. SOUTH BEND REDEVELOPMENT COMMISSION By: President ATTEST: Secretary DMS 50673493 South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Redevelopment Commission Agenda Item DATE : 2/6/26 FROM: Erin Michaels – Property Development Manager SUBJECT: Opening of Bids for 1818 W Sample 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: Opening of Bids for 1818 W Sample St SPECIFICS: The Redevelopment Commission (RDC) issued a Notice of Intended Disposition and requested bids for property located at 1818 W Sample St. Bids are due at 9:00 a.m. on February 12, 2026. Any and all bids received by that time will be publicly opened and read aloud at the February 12th RDC meeting. ______________ ___________Pres/V-Pres ATTEST: __________ ________Secretary Date: _____________ _______ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Redevelopment Commission Agenda Item DATE : 2/6/2025 FROM: Joseph Molnar, Assistant Director of Growth & Opportunity SUBJECT: Budget Request – Western Ave Transformation District Design 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: Budget Request of $200,000 to fund further design of the Western Ave Transformation District SPECIFICS: This request is to fund further design of the Western Ave Transformation District (WATD) which includes 156 mixed income housing units on the site of the former Rabbi Shulman public housing development. The City is partnering with the Housing Authority of South Bend, the St. Joseph County Community Foundation and Michaels Development to build new quality affordable housing on the site. The partners are also leveraging funding with a Section 108 loan from the U.S. Department of Housing and Urban Development as well as Low-Income Housing Tax Credits through the Indiana Housing & Community Development Authority. The intention is for the design funding to be reimbursed through the Section 108 loan. The project includes new housing, quality urban design, and new public spaces on the southwest edge of Downtown South Bend. This transformational project will continue investment in South Bend as well as revitalizing a disinvested area of South Bend. Staff recommends approval. ______________ ___________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 : 2/6/26 FROM: Erin Michaels – Property Development Manager SUBJECT: Real Estate Donation Agreement – 528 Euclid Ave 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 Proposed Real Estate Donation Agreement for Vacant Parcel at 528 Euclid Ave SPECIFICS: The proposed Real Estate Donation Agreement would allow the Redevelopment Commission to accept one vacant residential parcel located at 528 Euclid Ave from Mr. Jagdeep Singh.Mr. Singh has contacted Commission staff and wishes to donate this parcel to the Redevelopment Commission to further redevelopment in the Near Westside neighborhood. The due diligence period would be sixty (60) days from approval of this agreement and the closing deadline would be sixty (60) days from the end of the due diligence period. The City owns fifty five (55) vacant parcels in this neighborhood and adding this parcel to the City’s portfolio will help to further redevelopment in this area. _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION 1 REAL ESTATE DONATION AGREEMENT This Real Estate Donation Agreement (“Agreement”) is made effective by and between Jagdeep Singh, an individual and holding title to the Property (as later defined) as SINGH JAGDEEP (the “Owner”), and the City of South Bend, Indiana, Department of Redevelopment, by and through its governing body, the South Bend Redevelopment Commission, with an address of 215 S Dr. Martin Luther King Jr. Boulevard, Suite 500, South Bend, IN 46601 (“Commission”) (each a “Party” and together the “Parties”). RECITALS A. Commission exists and operates pursuant to the Redevelopment of Cities and Towns Act of 1953, as amended, cited as Indiana Code 36-7-14 (the “Act”). B. The Owner owns certain real property and all improvements thereon located at 528 Euclid Avenue in South Bend, Indiana (the “City”), and more particularly described in attached Exhibit A (the “Property”). C. The Property is situated in the River West Development Area and the Act allows the Commission to accept gifts of property needed for the redevelopment of redevelopment project areas. D. The Owner desires to donate the Property to the Commission to promote its redevelopment efforts and the Commission desires to accept the donation of the Property from the Owner upon the terms and conditions as set forth in this Agreement, and in accordance with the Act. THEREFORE, in consideration of the mutual covenants and promises in this Agreement and other good and valuable consideration, the receipt of which is hereby acknowledged, the Commission and the Owner agree as follows: 1. DONATION OF THE PROPERTY A copy of this Agreement, signed by the Owner, constitutes the Owner’s agreement to donate and convey the Property and once signed by the Commission, constitutes the Commission’s acceptance of the donation and conveyance in accordance with the terms stated in this Agreement. A copy signed by the Commission shall be delivered to the Owner, in care of the following representative (“Owner’s Representative”): ___________________ _________________ ____________________ __________________ __________________ 2 The Owner shall return a signed copy of this Agreement to the following representative (“Commission’s Representative”): Caleb Bauer Executive Director Department of Community Investment City of South Bend 215 S. Dr. Martin Luther King Jr. Blvd. Suite 500 South Bend, IN 46601 All the terms and conditions of this Agreement will be effective and binding upon the Parties and their successors and assigns at the time the Agreement is fully signed by Commission and the Owner (the “Effective Date”). 2. CONSIDERATION The Owner acknowledges that this conveyance is made as a voluntary donation to the Commission, and is given without expectation of monetary compensation. This transfer is made for nominal consideration of One Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. 3. COMMISSION’S DUE DILIGENCE A. Investigation. The Owner acknowledges that the Commission’s determination to accept the Property requires a process of investigation (Commission’s “Due Diligence”) into various matters. Therefore, the Commission’s obligation to accept the transfer of the Property is conditioned upon the satisfactory completion, in the Commission’s discretion, of the Commission’s Due Diligence, including, without limitation, the Commission’s examination, at the Commission’s sole expense, of zoning and land use matters, environmental matters, real property title matters, and the like, as applicable. B. Authorizations During Due Diligence Period. The Owner authorizes the Commission, as of the Effective Date and continuing until the end of the Due Diligence Period (as defined below), to enter upon the Property or to cause agents to enter upon the Property for purposes of examination; provided, however, that the Commission may not take any action upon the Property which reduces the value thereof; and further provided that the Commission shall promptly restore the Property to its condition prior to entry, and agrees to defend, indemnify, and hold the Owner harmless, before and after the Closing Date, whether or not a closing occurs, and regardless of any cancellations or termination of this Agreement, from any liability to any third party, loss or expense incurred by the Owner, including without limitation, reasonable attorney fees and costs arising from acts or omissions of the Commission or the Commission’s agents or representatives. 3 C. Due Diligence Period. The Commission shall have a period of sixty (60) days following the Effective Date to complete its examination of the Property in accordance with this Section 3 (the “Due Diligence Period”). The Commission may, at any time before the expiration of the Due Diligence Period, waive in whole or in part its rights under this Agreement with respect to the Due Diligence Period by delivering written notice to the Owner, and the Parties shall proceed to Closing in accordance with Section 7. D. Termination of Agreement. If at any time within the Due Diligence Period, the Commission determines, in its sole discretion, not to proceed with the purchase of the Property, the Commission may terminate this Agreement by written notice to the Owner and with no liability to the Commission. 4. PRESERVATION OF TITLE AND CONDITION A. After the date the Owner executes this Agreement and receives a counter- signed copy of this Agreement from the Commission as described in Section 1, the Owner shall not take any action or allow any action to be taken by others to cause the Property to become subject to any new interests, liens, restrictions, easements, covenants, reservations or other matters affecting the Owner’s title (such matters are referred to as “Encumbrances”). B. The Owner hereby covenants that the Owner will not alter the condition of the Property at any time after the date the Owner receives a counter-signed copy of this Agreement from the Commission as described in Section 1. Further, the Owner will not release, or cause to be released, any hazardous substances on or near the Property and will not otherwise collect or store hazardous substances or other materials, goods, refuse or debris at the Property in violation of applicable laws. 5. TITLE COMMITMENT AND SURVEY The Commission shall obtain the Title Commitment for an owner’s policy of title insurance (the “Title Commitment”) issued by a title company selected by the Commission and reasonably acceptable to the Owner (the “Title Company”) within twenty (20) days after the Effective Date. The Commission, at its option, may obtain a survey of the Property, at its sole expense (the “Survey”). The Property shall be conveyed to the Commission free of all encumbrances, including but not limited to mortgages, judgments, and taxes, unless otherwise waived in writing by the Commission. The Title Commitment will be issued by a title company selected by the Commission and reasonably acceptable to the Owner (the “Title Company”). The Title Commitment shall: (1) Agree to insure good, marketable and indefeasible fee simple title to the Property in the name of the Commission for the full amount of the Purchase Price upon delivery and recordation of a special warranty deed from the Owner to the Commission. (2) Provide for issuance of a final ALTA owner’s title insurance policy, with any endorsements requested by the Commission, subject only to any encumbrances waived by the Commission. 4 Regardless of whether this transaction closes, the Commission shall be responsible for the title search charges, the cost of the Title Commitment and owner’s policy as well as any endorsements thereto. Within thirty (30) days after the Commission’s receipt of the Title Commitment, the Commission shall give the Owner written notice of any objections to the Title Commitment. Within thirty (30) days after the Commission’s receipt of the Survey, if one is obtained, the Commission shall give the Owner written notice of any objections to the Survey. Any exceptions identified in the Title Commitment or Survey to which written notice of objection is not given within such period shall be a “Permitted Encumbrance.” If the Owner is unable or unwilling to correct the Commission’s title and survey objections within the Due Diligence Period, the Commission may terminate this Agreement by written notice to the Owner prior to expiration of the Due Diligence Period. If the Commission fails to so terminate this Agreement, then such objections shall constitute “Permitted Encumbrances” as of the expiration of the Due Diligence Period, and the Commission shall acquire the Property without any effect being given to such title and survey objections. 6. THE OWNER’S REPRESENTATIONS AND WARRANTIES The undersigned Owner represents and warrants to the Commission that the Owner owns in fee simple title to the Property and has not granted any option or right of first refusal to any person or entity to acquire the Property or any interest therein. The undersigned Owner further represents and warrants it is fully empowered to donate the Property to the Commission under the terms and conditions stated in this Agreement, and that it has disclosed to the Commission any notifications from any local, state, or federal authority regarding environmental matters pertaining to the Property. The Owner shall provide the Commission a copy of all known environmental inspection reports, engineering, title, and survey reports and documents in the Owner’s possession relating to the Property. In the event the Closing does not occur, the Commission will immediately return all such reports and documents to the Owner. 7. CLOSING A. Timing of Closing. Unless this Agreement is earlier terminated, the transfer of title contemplated by this Agreement (the “Closing”) shall be held at the office of the Title Company on a mutually agreeable date not later than sixty (60) days after the end of the Due Diligence Period, unless mutually agreed to in writing by the Parties. B. Closing Procedure. (1) At Closing, subject to the performance by the Commission of its obligations under this Agreement, the Owner shall deliver the special warranty deed, substantially in the form attached hereto as Exhibit B, conveying the Property to the Commission, subject only to Permitted Encumbrances, and the Title Company’s delivery of the Title Commitment to the Commission in accordance with Section 5 above. 5 (2) The possession of the Property shall be delivered to the Commission at Closing, in substantially the same condition as it exists on the Effective Date, ordinary wear and tear and casualty excepted. C. Closing Costs. The Commission shall pay the Title Company’s closing fee and all recordation costs associated with the transaction contemplated in this Agreement. D. Personal Property. Any personal property remaining at the Property after Closing will be deemed to be abandoned by the Owner, and the Commission, in its sole discretion, may choose to exercise possession of and control over any such personal property. E. The Owner’s Due Diligence. The Owner acknowledges that the Owner has conducted its own due diligence and waives any right that the Owner may have to an appraisal or to contest or challenge the donation conveyed under this Agreement. 8. ACCEPTANCE OF PROPERTY “AS-IS” Except as otherwise set forth herein, the Commission agrees the Property will be conveyed “as-is, where-is” and without any representations or warranties by the Owner as to the condition of the Property or its fitness for any particular use or purpose. The Owner offers no such representation or warranty as to condition or fitness, and nothing in this Agreement shall be construed to constitute such a representation or warranty as to condition or fitness. 9. TAXES The Owner shall be responsible for all taxes related to the Property accruing through the Closing Date, if any, even if such taxes are not yet due and payable. The Commission, or the Commission’s successors and assigns, shall be liable for all real property taxes accruing against the Property after the Closing Date, if any. 10. COMMISSIONS The Parties acknowledge that neither the Commission nor the Owner are represented by any broker in connection with the transaction contemplated in this Agreement. The Commission and the Owner agree to indemnify and hold one another harmless from any claim for commissions in connection with the transaction contemplated in this Agreement. 11. INTERPRETATION; APPLICABLE LAW; JURISDICTION Both Parties having participated fully and equally in the negotiation and preparation of this Agreement, this Agreement shall not be more strictly construed, nor shall any ambiguities be presumptively resolved, against either Party. This Agreement shall be interpreted and enforced according to 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. 6 12. NOTICES All notices required or allowed by this Agreement, before or after Closing, shall be delivered in person or by certified mail, return receipt requested, postage prepaid, addressed to the Owner in care of the Owner’s Representative, or to the Commission in care of the Commission’s Representative (with a copy to South Bend Legal Department, 215 S Dr. Martin Luther King Jr. Blvd, Suite 600, South Bend, IN 46601, Attn: Corporation Counsel) at the respective addresses stated in Section 1 above. Either Party may, by written notice, modify the address for future notices to such Party. 13. REMEDIES Upon any default in or breach of this Agreement by either Party, the defaulting Party will proceed immediately to cure or remedy such default within thirty (30) days after receipt of written notice of such default or breach from the non-defaulting Party, or, if the nature of the default or breach is such that it cannot be cured within thirty (30) days, the defaulting Party will diligently pursue and prosecute to completion an appropriate cure within a reasonable time. In the event of a default or breach that remains uncured for longer than the period stated in the foregoing sentence, the non-defaulting Party may terminate this Agreement, commence legal proceedings, including an action for specific performance, or pursue any other remedy available at law or in equity. All the Parties’ respective rights and remedies concerning this Agreement and the Property are cumulative. 14. DISPUTE RESOLUTION; WAIVER OF JURY TRIAL 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. The Parties acknowledge that disputes arising under this Agreement are likely complex and they desire to streamline and minimize the cost of resolving such disputes. In any legal proceeding, each Party irrevocably waives the right to trial by jury in any action, counterclaim, dispute, or proceeding based upon, or related to, the subject matter of this Agreement. This waiver applies to all claims against all parties to such actions and proceedings. This waiver is knowingly, intentionally, and voluntarily made by both Parties. 15. INDEMNITY The Parties agree to reimburse each other for any and all liabilities, claims, penalties, forfeitures, suits, and the costs and expenses incident thereto (including costs of defense and settlement), which either party may subsequently incur, become responsible for, or pay out as a result of a breach by the other party in default of this Agreement. In the event of legal action initiated by a third party as a result of a breach of this Agreement, the breaching party shall assume the defense of the non-breaching party, including all costs associated therewith. 7 16. 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 with respect to any occurrence be construed as a waiver of any 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. 17. SEVERABILITY 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. 18. FURTHER ASSURANCES The Parties agree that they will each undertake in good faith, as permitted by law, any action and execute and deliver any document reasonably required to carry out the intents and purposes of this Agreement. 19. TIME Time is of the essence of this Agreement. 20. ENTIRE AGREEMENT This Agreement embodies the entire agreement between the Owner and the Commission and supersedes all prior discussions, understandings, or agreements between the Owner and the Commission concerning the transaction contemplated in this Agreement, whether written or oral. 21. BINDING EFFECT; COUNTERPARTS; SIGNATURES All the terms and conditions of this Agreement will be effective and binding upon the Parties and their successors and assigns at the time the Agreement is fully signed and delivered by the Commission and the Owner. This Agreement may be separately executed in counterparts by the Commission and the Owner, and the same, when taken together, will be regarded as one original Agreement. Facsimile signatures will be regarded as original signatures. 8 22. AUTHORITY TO EXECUTE The undersigned persons executing and delivering this Agreement on behalf of the Parties each represent and certify that they are empowered to execute and deliver this Agreement and that all necessary action has been taken and done. [Signature Page Follows] 9 IN WITNESS WHEREOF, the Parties hereby execute this Agreement to be effective as of the _____ day of ________ 2026. COMMISSION: South Bend Redevelopment Commission By: __________________________ Troy Warner, President ATTEST: By: __________________________ Eli Wax, Secretary OWNER: SINGH JAGDEEP By: __________________________ Jagdeep Singh EXHIBIT A Description of Property Commonly Known: 528 Euclid Ave Parcel ID: 018-1037-1630 State ID: 71-08-02-376-022.000-026 Legal Description: Lot 17 Orchard Hts 1st EXHIBIT B Form of Special Warranty Deed 1 AUDITOR’S RECORD TRANSFER NO.__________ TAXING UNIT___________ DATE __________________ KEY NO. 018-1037-1630 SPECIAL WARRANTY DEED THIS INDENTURE WITNESSETH, that SINGH JAGDEEP (the “Grantor”) CONVEYS AND SPECIALLY WARRANTS to the South Bend Redevelopment Commission, governing body of the City of South Bend Department of Redevelopment, 215 S. Dr. Martin Luther King Jr. Blvd, Suite 500, South Bend, Indiana 46601 (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 in St. Joseph County, Indiana (the “Property”): Commonly Known: 528 Euclid Ave Parcel ID: 018-1037-1630 State ID: 71-08-02-376-022.000-026 Legal Description: Lot 17 Orchard Hts 1st Grantor warrants title to the Property only insofar as it might be affected by any act of the Grantor during its ownership thereof and not otherwise. Further, Grantor hereby conveys the Property to the Grantee free and clear of all liens, leases, or licenses; subject to real property taxes and assessments; subject to all right of ways, easements, covenants, conditions, restrictions, and other matters of record; subject to rights of way for roads; subject to the Permitted Encumbrances set forth in Exhibit 1 attached hereto; and subject to all applicable building codes and zoning ordinances. The undersigned person executing this deed on behalf of the Grantor represents and certifies that they are a duly authorized representative of the Grantor and has been fully empowered and authorized to execute and deliver this deed, and that all necessary action to complete this conveyance has been taken and done. Signature Page Follows 2 GRANTOR: SINGH JAGDEEP By: Jagdeep Singh, an individual, who acquired title as Singh Jagdeep STATE OF INDIANA ) ) SS: ST. JOSEPH COUNTY ) Before me, the undersigned, a Notary Public, in and for said County and State, personally appeared Jagdeep Singh, known to me to be the same individual who is described in and who executed the foregoing instrument, and acknowledged the execution of the foregoing Special Warranty Deed as their true act and deed. IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on the _____ day of ______________, 2026. 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, 215 S. Dr. Martin Luther King, Jr. Blvd, Suite 600, South Bend, Indiana 46601. EXHIBIT 1 Permitted Encumbrances South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Redevelopment Commission Agenda Item DATE : 2/9/2025 FROM: Joseph Molnar, Assistant Director of Growth & Opportunity SUBJECT: First Amendment – 321 W Wayne Development Agreement 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 First Amendment to the 321 W Wayne Development Agreement SPECIFICS: Historic Hearthstone LLC, a local development group, has been in the process of redeveloping a century old warehouse building at 321 W Wayne Street in downtown South Bend. The goal of the redevelopment is to fully renovate the building with small offices and a brewery with a family friendly entertainment activity. On November 14, 2024, the RDC entered into a Development Agreement with the developer for the renovation of the space. The developer committed to expending a minimum of $1,500,000 and the RDC committed to expending $70,000 on improvements of the building. The offices are nearly complete, and the brewery/restaurant opened in December with duckpin bowling at the site. During renovations, unexpected expenses on improving the utility infrastructure to begin brewing at the site were encountered. The attached First Amendment amends the Development Agreement to provide funds to improve the utility infrastructure. The Amendment also nearly doubles the minimum investment commitment by the Developer. The Amendment amends the following commitments: Original Commitments Amended Commitments Developer $1,500,000 Minimum Investment Developer $2,900,000 Minimum Investment RDC $70,000 Investment RDC $80,000 investment The Developer is on track to finish the full redevelopment of the property in 2026 and meet all deadlines in the Agreement. No other substantial changes are proposed. Staff recommends approval. ______________ ___________Pres/V-Pres ATTEST: __________ ________Secretary Date: _____________ _______ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION 1 FIRST AMENDMENT TO DEVELOPMENT AGREEMENT This FIRST AMENDMENT TO DEVELOPMENT AGREEMENT (this “First Amendment”) is made and entered into to be effective as of February 12, 2025 (the “Effective Date”), by and between the South Bend Redevelopment Commission (the “Commission”), and Historic Hearthstone LLC, an Indiana Limited Liability Company, with offices at 615 W. Colfax South Bend, Indiana 46601 (the “Developer”) (each a “Party,” and collectively the “Parties”). RECITALS A.The Commission and the Developer entered into a certain Development Agreement dated effective November 14, 2024, (the “Development Agreement,” attached hereto as Exhibit A), pertaining to certain Local Public Improvements (“LPI”) to renovate, rehabilitate, and activate the Developer Property, as defined in the Development Agreement, which is located in the River West Development Area (the “Project”). B.The Development Agreement defined the Funding Amount to be an amount not to exceed Seventy Thousand Dollars ($70,000.00) of tax increment finance revenues to be used for paying the costs associated with the construction, equipping, inspection, and delivery of the LPI, with a minimum Private Investment amount of not less than One Million and Five Hundred Thousand Dollars ($1,500,000) for the costs associated with completing the improvements set forth in the Project Plan, including architectural, engineering, and any other costs directly related to completion of the Project that are expected to contribute to increases in the Assessed Value of the Developer Property. C.The Developer has expended more than the required Private Investment in furtherance of the Project Plan, and the Commission has fully expended the Funding Amount. D.The Development Agreement defined the Timeframe for Completion as no later than December 31, 2027. The Developer is on track to finish the project as envisioned in the Project Plan by the Timeframe for Completion. E.The Developer has committed to expanding the amount of Private Investment required to complete the Project Plan. F.The Commission believes that the Developer completing the Project as described in this First Amendment is in the best interests of the health, safety, and welfare of the City and its residents. G.The Parties now desire to amend the Development Agreement as set forth herein. AGREEMENT NOW, THEREFORE, in consideration of the mutual promises and obligations stated in the Development Agreement and this First Amendment, the adequacy of which is hereby acknowledged, the Parties agree as follows: 1.Recitals. The recitals set forth above, including each and every recital contained therein, are incorporated into and made a part of this First Amendment as though fully set forth herein. 2 2.Amendments. The Development Agreement is hereby amended as follows: a)Section 1.3, the text “Seventy Thousand Dollars ($70,000)” shall be deleted and replaced with the following: “Eighty Thousand Dollars ($80,000)." b)In Section 1.4, the text “One Million Five Hundred Thousand Dollars ($1,500,000.00)” shall be deleted and replaced with the following: “Two Million Nine Hundred Thousand Dollars ($2,900,000.00).” 3.Entire Agreement; Conflict. Except as otherwise stated herein, all other terms, conditions and agreements contained in the Development Agreement remain unmodified and in full force and effect. To the extent a conflict exists between the terms of this First Amendment and the Development Agreement, the terms of this First Amendment shall control. Capitalized terms used in this First Amendment will have the meanings set forth in the Development Agreement unless otherwise stated herein. 4.Counterparts; Electronic or Facsimile Transmission. This First Amendment may be executed in counterparts which, when combined, shall constitute one instrument. The electronic or facsimile transmission of a signed counterpart of this First Amendment shall be binding upon the party whose signature is contained on the transmitted copy. Signature Page Follows 3 IN WITNESS WHEREOF, Commission and Developer have executed this First Amendment to Development Agreement to be effective as of the date set forth above. SOUTH BEND REDEVELOPMENT COMMISSION ___________________________________ Troy Warner, President Attest: ___________________________________ Eli Wax, Secretary HISTORIC HEARTHSTONE LLC ___________________________________ Regina Emberton, Manager EXHIBIT A Development Agreement (see attached) South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Redevelopment Commission Agenda Item DATE : February 12, 2026 FROM: Nifemi Oluwatomini Senior Engineer SUBJECT: Budget Request- Studebaker HVAC renovation 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: This budget request is for $350,000 to pay for limited renovations of Studebaker National Museum HVAC system including two roof top units (RTUs) and modernizing the building control system SPECIFICS: This budget request of $350,000 covers the design and replacement of two RTUs and the building control system for the Studebaker National Museum HVAC. This will be the culmination of modernizing the HVAC system at the museum which has been happening over the last few years to replace obsolete equipment. The new units will be serviceable with modern components and be more efficient. The upgrades to the building control systems will allow staff to manage museum temperatures more effectively. This is particularly important to ensure the long-term care of the museum’s collections. The City of South Bend has a Lease and Management Agreement with the Studebaker National Museum. The City is the owner of the building and leases the space and the City’s collection of historic vehicles to the Studebaker National Museum. The Agreement gives responsibility to the City for the replacement of any part or all parts of the HVAC system. It is requested that the Redevelopment commission approves $350,000 from River West TIF to cover the design and construction of the Studebaker National Museum HVAC renovation. Staff recommends approval. ______________ ___________Pres/V-Pres ATTEST: __________ ________Secretary Date: _____________ _______ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION