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HomeMy WebLinkAboutRedevelopment Commission Agenda & Packet 03.26.26 - Final South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Agenda Regular Meeting March 26, 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 March 12, 2026 3. Approval of Claims A. None 4. Old Business A. None 5. New Business A. West Washington Development Area 1. Budget Request (West Washington Mid-Block Crossing) B. River West Development Area 1. Budget Request (Kennedy Park Improvements) 2. 3rd Amendment to Development Agreement (GLC, Madison Lifestyle District) C. River East Development Area and Residential Development Area 1. Budget Request (Riverwalk Improvements Seitz to Howard Phase 2) D. River East Development Area 1. 3rd Amendment to the Wharf Development Agreement South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Page | 2 E. Administrative 1. 2025 Fiscal Report 6. Progress Reports A. Tax Abatement B. Common Council C. Other 7. Next Commission Meeting Thursday, April 9, 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 March 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 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 Member Absent: Marcus Ellison, Non-Voting Advisor Legal Counsel: Jenna Throw, City Attorney Redevelopment Staff: Darryl Scott, Chief of Staff, Mayor’s Office Erik Glavich, Director of Growth and Opportunity, DCI Lewis Kouassi, Director of Finance, DCI Joseph Molnar, Asst. Dir. of Growth and Opp., DCI Erin Michaels, Property Development Manager, DCI Laura Hensley, Board Secretary, DCI Attending: Eric Horvath, Director of Public Works Jitin Kain, Deputy Director of Public Works Abigail Magas, City Engineer, Engineering Leslie Biek, Assist. City Engineer, Engineering Zach Hurst, Senior Project Engineer, Engineering Patrick Sherman, Project Manager, Public Works Leslie Biek, Assist. City Engineer, Engineering Lidya Abreha, Project Engineer, Engineering Megan Schuetz, KCG Development, LLC - Virtual Matt Barrett, 110 S. Niles Ave. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 2 2. Approval of Minutes A. Approval of Minutes of the Regular Meeting of Thursday, February 12, 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 February 12, 2026. B. Approval of Minutes of the Regular Meeting of Thursday, February 26, 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 February 26, 2026. 3. Approval of Claims A. Claims Allowances March 9, 2026 Upon a motion by David Relos for approval second by Gillian Shaw, the motion carried unanimously; the Commission approved the claims allowances of March 9, 2026. 4. Old Business A. None 5. New Business A. South Side Development Area 1. Development Agreement (KCG Development LLC) Joseph Molnar, Assistant Director of Growth and Opportunity, stated before you today is a development agreement with KCG Development LLC for a City-owned vacant lot at South Main and Donald Streets. The property has been owned by the Redevelopment Commission for over a decade and has remained vacant since the former building was demolished. KCG is a multifamily housing developer out of Indianapolis. In June 2025, the RDC approved a purchase agreement with KCG with the intent to pursue Low-Income Housing Tax Credits (7th in 3 years). That award was successfully announced in November 2025, allowing the City to leverage federal and state resources. This is one of seven such awards the City has secured in the past three years, after having none in the prior decade. The development agreement requires the construction of a multifamily housing project with a minimum of 50 affordable rental units at varying AMI levels. The RDC is committing $1 million from the South Side Development Area TIF, alongside a minimum $13 million private CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 3 investment from the developer. This local commitment was essential to the project’s competitiveness for tax credit scoring. The proposed project is a four-story, all-residential building with brick accents. If approved, KCG plans to close on the property this Spring, begin construction later this year, and complete the project by the end of 2027. Commissioner Gooden-Rodgers asked, what assurances do we have that developers will address issues that arise in these buildings? We already have properties experiencing ongoing problems. What commitments are in place to ensure residents’ needs are properly managed? Megan Schuetz with KCG responded, we use a national third-party property management company and are long-term owners of these projects, typically at least 15 years, with affordability maintained for 30 years. Each property will have on-site management and maintenance staff, and we partner with service organizations to support residents with disabilities. Because we are invested long term, we are committed to keeping both the residents and the property successful. Vice President Relos asked about parking. Ms. Schuetz explained that resident access will be from Donald Street, with a curb cut located there. There will also be secondary emergency access off the alley. Parking will be accessed from the alley and will be gated. Matt Barrett expressed concerns about code enforcement. Upon a motion by Ophelia Gooden-Rodgers for approval, seconded by David Relos, the motion carried unanimously; the Commission approved the Development Agreement as presented on March 12, 2026. B. River West Development Area 1. Budget Request (Morris Garage Design) Joseph Molnar, Assistant Director of Growth and Opportunity, presented a budget request for design and site preparation related to the proposed Morris Parking Garage serving the Morris Performing Arts Center. This project represents the third and final phase of the Encore initiative, a multi-year effort to renovate and modernize the Morris for its next century. Phase one was a $10 million renovation to the theater itself, including seating and HVAC improvements. Phase two was the recently completed Raclin Murphy Encore Center expansion. Phase three envisions a parking garage attached to the west side of the Encore Center, which was designed with this future connection in mind. The proposed 473-space garage would provide dedicated, ADA-accessible parking for Morris patrons, eliminating the need to park CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 4 several blocks away or go outside to access the theater. It would also support additional downtown development. The Redevelopment Commission is currently in active discussions with 7 Diamonds regarding a residential component integrated with the garage, following an RFP issued in 2025. Those discussions are progressing well, and staff anticipate bringing a development agreement to the RDC later this Summer. Today’s request is for $2 million from River West TIF to fund full design, demolition, and site preparation work, including removal of the former South Bend Water Works building and necessary grading and remediation. This funding keeps the project on track for a 2027 construction start. This final phase would complete the Morris modernization while adding much-needed parking to support both the theater and downtown more broadly. Secretary Wax stated, I remember that when we reviewed the RFP responses, there was a general understanding of what portion of the project would be covered by the City or other public investment versus the developer. Is this request consistent with what we initially agreed to when we accepted the proposal and began negotiations? Mr. Molnar responded yes. Under the proposal— which we are still finalizing the agreement for—the City would be responsible for providing the parking garage and potentially a one-story podium for the residential building, with the developer constructing the housing above it. While the finer terms are still being negotiated, this funding request is consistent with that original framework. The request is primarily for the design and site work for the garage, which would be required regardless of the final development partner. Vice President Relos asked about how many parking spaces will be available to the public. Mr. Molnar stated the only parking commitments that are finalized are those covered by signed agreements. Any additional commitments related to 7 Diamonds or another housing developer would be addressed later through a development agreement. The Morris has identified a need for at least 250 parking spaces on show nights, and we are confident the proposed garage can accommodate that. The garage is being designed with flexibility in mind—allowing spaces to be used by office or other users during the day and then made available for Morris events during evenings and weekends. The spaces dedicated to the Morris would otherwise be available to the public year-round, similar to other downtown parking facilities. We have been working closely with Morris staff and Public Works on loading, staging, and staff parking spaces. Patrick Sherman, Project Manager, responded that the design preserves access to existing loading docks for semi-trucks and box trucks and maintains access behind the CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 5 Morris and the former LaSalle Grill site. We recognize this is a complex area, especially on show nights when buses and trucks are present, and coordination will continue to ensure operations function smoothly. Across the street, the Colfax Corner project is expected to bring approximately 400 jobs. That developer has expressed interest in a future parking arrangement once the garage is built. While the garage will not be available for another 18 to 24 months, we are confident that shared-use parking—such as daytime office use with evening availability—can be managed through a smart parking approach. Commissioner Shaw inquired about the age and condition of the Water Works building and whether there are any anticipated challenges, such as abatement issues or foundation concerns? Mr. Molnar explained that, we’ve completed a walkthrough of the Water Works building and are fairly confident in what to expect. The building does have a basement, and we are already planning for that as part of the demolition. While you never fully know what’s underground until work begins, we’ve accounted for potential variables and included contingencies. We’ve also been receiving strong demolition bids recently, which helps us manage those uncertainties. Upon a motion by Ophelia Gooden-Rodgers for approval, seconded by Eli Wax, the motion carried unanimously; the Commission approved the Budget Request as presented on March 12, 2026. 2. Budget Request (Demo and Design River Glenn) Darryl Scott, Chief of Staff, with the Mayor’s Office, presented this budget request for $1,700,000 for demolition and site design related to the former Press Ganey River Glen office property. The goal of this request is straightforward: to prepare the site for the next phase of investment by removing barriers to redevelopment and positioning the property so the market can respond with viable proposals. We are requesting RDC consideration for funding to demolish the existing structures and complete site design work. The Redevelopment Commission acquired the property in late 2024 and issued an RFP allowing for either reuse of the existing buildings or full redevelopment. Staff have since engaged with multiple development teams, and the feedback has been consistent—there is no market interest in reusing the existing buildings or their current footprint. As a result, staff recommends a strategy focused on demolition to reduce barriers and improve marketability. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 6 The site is approximately five acres and includes buildings dating back to the 1970s that have been vacant for more than five years. Their layout and systems do not align with modern office standards, residential conversion, ground-floor activation, or riverfront-oriented development. Maintaining these structures does not preserve value and instead creates physical and financial constraints. In addition, the RDC continues to incur carrying costs for these vacant buildings, including insurance, security, utilities, and property management. Demolition would eliminate these recurring costs and allow for flexible site planning consistent with the Downtown 2045 Plan and the broader River Glen vision. Site design is included in this request because demolition alone is not sufficient. Completing design work now will establish buildable site configurations, coordinate utilities and access, and reduce delays once a developer is selected. Market feedback has shown that uncertainty around site readiness has limited interest, and this approach directly addresses those concerns. Today’s request is to approve funding for demolition and site design to unlock redevelopment potential, support downtown growth, expand housing opportunities, and activate the riverfront. Vice President Relos asked during the site preparation work for the JC Hart project, did the engineering identify utilities that run through this area—specifically from Jefferson down to Monroe or toward Lincoln Way? He wonders whether that work helped clarify what exists underground farther south. Eric Horvath, Director of Public Works, responded, yes. We conducted a survey of the entire area and completed a master utilities plan covering Jefferson to Monroe and from Michigan Street to the river. Because Lincoln Way previously ran through this site, many older utilities were left in place when the street was relocated, creating a complex network underground. While it’s somewhat of a “spaghetti” situation, we now have a good understanding of what utilities are present, and that information will directly inform the site design moving forward. Upon a motion by Ophelia Gooden-Rodgers for approval, seconded by David Relos, the motion carried unanimously; the Commission approved the Budget Request as presented on March 12, 2026. CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 7 3. Resolution No. 3667 (Accepting Transfer of Real Property at 821 Portage Ave & 808 Cushing St. from BPW) Erin Michaels, Property Development Manager, presented this Resolution No. 3667 which accepts the transfer of two parcels—821 Portage Avenue and 808 Cushing Street—from the Board of Public Works to the Redevelopment Commission. These two vacant parcels are located at the corner of Portage and Cushing and sit directly across the street from a larger stretch of property already owned by the RDC. The parcels were originally acquired by the Board of Public Works through agreements with Near Northwest Neighborhood, Inc. in 2008 and 2013. Given the amount of infill development that has occurred in the Near Northwest Neighborhood, staff believe the RDC is the more appropriate entity to own and manage these parcels in anticipation of future redevelopment. Transferring these properties allows the RDC to proactively assemble a larger potential redevelopment site that could incorporate parcels on both sides of the street. The Board of Public Works approved its corresponding Resolution at its March 10 meeting. Commissioner Gooden-Rodgers asked if there are any plans for redevelopment of this area currently. Ms. Michaels responded that while there are no concrete plans in place, we have received interest from developers, so this is the first step in readying the site for redevelopment. Commissioner Shaw asked if Public Works will still be assisting in the maintenance of these sites and Ms. Michaels stated yes. Upon a motion by Gillian Shaw for approval, seconded by Ophelia Gooden-Rodgers, the motion carried unanimously; the Commission approved Resolution No. 3667 as presented on March 12, 2026. 4. Lease Agreement for Temporary Parking (Parking Lots at Wayne St. & Lafayette Blvd and South of Lafayette Building) Erin Michaels, Property Development Manager, presented a lease agreement with the St. Joseph County Board of Commissioners for temporary use of two RDC-owned parking lots. The aerial shows the two parking lots included in the lease, highlighted in red, and the nearby County building, shown in blue, where the employees who would use these lots currently work. These lots are located close to that facility and were historically used for City employee parking. Since City staff have relocated to City Hall, the lots are no longer needed for City use. St. Joseph County has requested to lease the lots from the RDC. If approved, the lease would become effective immediately and could be CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 8 terminated by either party with 90 days’ written notice. This ensures flexibility should a redevelopment opportunity arise for the surrounding properties. The monthly rent would be $2,000, but that amount may be abated in exchange for the County completing approved repairs to the lots, such as seal coating, striping, or pothole repairs. Any abatement would require invoices to be submitted to RDC staff for review. In addition, the County would be responsible for routine maintenance of the lots, including snow and ice removal, landscaping, and mowing where applicable. Routine maintenance would not count toward rent abatement. Vice President Relos asked how many total spaces and Ms. Michaels stated the lot to the North has 20-30 spots and the lot to the South has 30-40 spots. Commissioner Gooden-Rodgers spoke in favor of the agreement. Upon a motion by Ophelia Gooden-Rodgers for approval, seconded by Eli Wax, the motion carried unanimously; President Warner abstained from the vote. The Commission approved the Lease Agreement as presented on March 12, 2026. C. River East Development Area 1. Budget Request (Demo of Former Qualex Building at 921 Louise St.) Joseph Molnar, Assistant Director of Growth and Opportunity, presented this budget request for $500,000 to demolish the former Qualex building in the River East development area. This property is located in what is now being branded as the Market District on the Southeast side of the city, immediately adjacent to Mishawaka Avenue. The building is a former industrial structure dating back to the 1930s. On the map, the Qualex building is outlined in red. Just to the South is the former Northside YMCA, which the City is actively working to redevelop. The City has applied for a READI Blight grant to help cover infrastructure costs at that site, and we are optimistic about a favorable decision. If awarded, we expect to bring additional agreements to the Redevelopment Commission soon. There is real momentum and activity happening in this area. To the North, at the intersection of Longfellow and Mishawaka Avenue, is the centerpiece of the Mishawaka Avenue streetscape project. Improvements along Mishawaka Avenue extend from Bambers Westward all the way toward Adams High School. In addition, new CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 9 businesses such as Cloud Walking Coffee have opened nearby, showing continued growth and investment in the district. The Qualex building has been a long-standing eyesore and has a negative impact on this area. The structure has significant damage, including a failing roof and collapsing walls, and has not been properly maintained. It has been vacant for decades and is under a court order for demolition due to its severe condition. This building represents an active public health and safety hazard. The City has made repeated efforts over the years to work with various property owners to bring the site into compliance. Unfortunately, the property has been caught in a recurring tax sale cycle. The current owner has stopped responding to the City, has not paid property taxes, and has taken no action to address the building’s condition. If the Redevelopment Commission approves this demolition, the City would place the cost of demolition as a lien on the property. If unpaid, that lien could eventually allow the City or the RDC to acquire property. The City is also exploring other legal avenues to gain control of the site. This demolition would remove serious safety concerns, protect recent public investments in the Mishawaka Avenue Market District, and support redevelopment opportunities adjacent to the former YMCA site. For the demolition itself, bids have already been opened by the Board of Public Works. The requested $500,000 budget includes a contingency, and we do not anticipate needing additional funding. If approved, bids are expected to be awarded on March 24, with demolition beginning in mid-April. The contract completion date is July 3. Commissioner Shaw asked how quickly the demolition could take place. Zach Hurst, Senior Project Engineer from the Department of Public Works stated that bids were opened on Tuesday at the Board of Public Works meeting. We anticipate awarding the bid at the next meeting on March 24. Assuming approval, we expect the contractor to mobilize and begin demolition in mid-April and expected completion by July 3, 2026. Vice President Relos asked are there any environmental concerns? Has a Phase I or Phase II environmental assessment been completed, and do we know what the demolition contractor may encounter, particularly related to contamination? The site previously housed photo processing operations, so there may be concerns about contaminated soil. Mr. Hurst responded, there is potential for environmental issues, particularly related to soil contamination, which is the largest unknown at this point. A contingency is built into the demolition contract to address any environmental conditions that may be discovered during demolition. An CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 10 asbestos survey was completed and came back fairly favorable, identifying only some mastic and limited transite in former office areas. Because this is an industrial building, it contains fewer office partitions and more open space than other demolitions, which reduces asbestos concerns. Much of the building material can be crushed and sent to a recycling facility rather than a landfill, contributing to more favorable pricing. Overall, we have a good understanding of existing conditions, with the primary uncertainty potentially contaminated soil in the basement once excavation begins. Matt Barrett commented that he supports this request. This is a code enforcement issue that should have been addressed years ago. While he understands there have been challenges, the City needs to invest more resources in code enforcement to prevent situations like this from occurring in the future. 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 March 12, 2026. 2. Budget Request (Howard Park Bandshell Design) Joseph Molnar, Assistant Director of Growth and Opportunity, presented this budget request for $250,000 for a portion of the design services for Howard Park Bandshell. This project would help transform Howard Park into a premier, four-season destination by adding a high- quality, covered outdoor performance stage. Since the park’s major overhaul in 2019, Howard Park has been highly active year-round, with features such as the ice trail and pond in winter and the playground and open spaces in warmer months. A permanent bandshell would add another major active use and further establish Howard Park as the City’s primary location for programmed activities. The bandshell would provide a dedicated, mid-sized venue for touring acts, local festivals, and community events. It would also serve as a regional cultural attraction, encouraging visitors to spend time downtown at nearby restaurants and shops. The performance stage has been part of the Howard Park vision since the 2019 redesign. Infrastructure was intentionally put in place at that time to support this future project, including reinforced paths for truck access, installed electrical capacity, and a park layout designed to accommodate performances in the central loop area. The proposed bandshell would include a covered stage, performer restrooms, a green room, AV control space, electrical and storage rooms, janitorial space, CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 11 and related site improvements to ensure a positive experience for both performers and visitors. The request before you today is for $250,000 in initial design funding. The City is actively pursuing multiple grant and funding opportunities through the State and local partners to support eventual construction. Advancing the design now strengthens those grant applications and allows for more accurate cost estimates by reducing current uncertainties. If funding comes together as anticipated, construction could begin as early as 2027. President Warner asked about potential funding sources. Could this project be supported by the hotel-motel tax? He also knows there have been early discussions about expanding the sports development area. Mr. Molnar responded, the hotel-motel tax is one potential funding source the City is exploring. In addition, the City is planning to apply for a READI Arts and Culture grant for this project. President Warner noted that the bandshell was included in the original 2019 plan but was deferred at that time as a cost-saving measure. Secretary Wax asked if we have a rough estimate of construction costs. Additionally, beyond grants and other funding sources, will rentals or event revenue cover the ongoing operational costs, or will this require continued financial support? Mr. Molnar explained that, current construction estimates are around $5 million, with the potential to increase slightly once full design and related costs are included. Questions related to operations and long-term costs would be best addressed by VPA. I’m happy to connect you with their programming team to discuss how the space would be operated and funded. The intent is for the venue to be accessible to the community while also generating some revenue through paid events. It is expected that existing VPA staff and programming resources could support operations, as Howard Park already has a strong and active programming structure. Commissioner Wax responded that he appreciates that these types of projects bring broader economic benefits to the city and downtown businesses. That said, when making a significant investment that carries ongoing operational costs, it’s important to ensure those costs are clearly understood and planned for in advance. Vice President Relos asked about the positioning of the bandshell and Jitin Kain, Deputy Director of Public Works explained the bandshell is proposed for the existing concrete stage area. Flooding typically occurs in the lower grassy areas below the stage. As the design moves forward, CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 12 any potential flooding concerns will be evaluated, including whether the stage would need to be elevated. In the graphic, the location is the concrete area in the center of the circle—specifically the small concrete half-oval between the central circle and the river. Upon a motion by David Relos for approval, seconded by Ophelia Gooden-Rodgers, the motion carried unanimously; the Commission approved the Budget Request as presented on March 12, 2026. D. River East Residential Development Area 1. Budget Request (Riverwalk Improvements Seitz to Howard Phase 2) Joseph Molnar, Assistant Director of Growth and Opportunity, stated We are requesting that this budget item be tabled. The bids came in slightly higher than anticipated, so we are reassessing the project and identifying additional funding sources. This item may be returned for consideration in approximately two weeks. Upon a motion by Troy Warner to be tabled, seconded by David Relosthe motion carried unanimously; the Commission tabled the Budget Request on March 12, 2026. 6. Progress Reports A. Tax Abatement None B. Common Council None C. Other Joseph Molnar, Assistant Director of Growth and Opportunity, updated Commissioners on the upcoming groundbreaking for the Monreaux project with a completion date by the end of the year. Mr. Molnar gave an update on the Diamond View project, and it should be completed by July 2, 2028. Commissioner Gooden-Rodgers spoke in favor of the Rabbi Shulman demolition. President Warner also spoke in favor of the seven (7) LIHTC projects. 7. Next Commission Meeting Thursday, March 26, 2026, 9:30 a.m., City Hall Council Chambers 3rd Floor CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 12, 2026 Page | 13 8. Adjournment Thursday, March 12, 2026, 10:35 a.m. ______________________________ ______________________________ Eli Wax, Secretary Troy Warner, President South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Redevelopment Commission Agenda Item DATE : March 26, 2026 FROM: Lidya Abreha Project Engineer SUBJECT: Budget Request- West Washington Mid-Block Crossing Build 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 request is to fund a portion of the construction costs for the West Washington Mid-Block Crossing project. The project will build a permanent mid-block crossing on Washington Street by the Civil Rights Heritage Center to facilitate safe pedestrian and bicycle crossings. It will follow the design concept tested in 2024 with the temporary installation at the same location. This area of Washington experiences a high volume of pedestrian crossings, and the project will significantly improve pedestrian safety. Staff requests that the Redevelopment Commission approve $90,000 from West Washington TIF for the project. The remaining funds are anticipated to come from public works. SPECIFICS: The project will build a concrete raised crossing for pedestrians and bicyclists as well as bumpouts to narrow the crossing distance. ______________ ___________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 : March 26th, 2026 FROM: Patrick Sherman Director of Project Management SUBJECT: Budget Request- Kennedy Park 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 a total of $1.5M for the renovation and improvement of Kennedy Park. This budget request will enable the City to leverage additional monies made available by DNR from the ORLP grant to ensure the City can realize the desired scope of the project. SPECIFICS: The City of South Bend will renovate Kennedy Park by renovating and expanding an aquatics facility, developing an accessible connective trail system and sidewalks within the park, replacing playground equipment, conducting naturalized redevelopment of an existing oak grove, replacing athletic courts, fields and amenities, installing additional exterior lighting, replacing a parking lot, and adding picnic sites and a shelter. The Department of Venues Parks & Arts successfully secured a competitive Outdoor Recreation Legacy Partnership (ORLP) grant through the (DNR) in the amount of $7.5 million. The City identified the required $7.5 million in matching funds to support the project. However, as the project advanced to its final design phase, it became evident that the total cost to complete the entire scope would surpass the initially available funding. When the DNR was notified that the full scope could not be carried out with the current budget, the DNR emphasized their preference for the complete project to proceed and offered to provide additional funding, contingent on the City's ability to secure further matching funds. With the additional DNR funding and this TIF request, full funding will be secured for the project which is 50% funded from sources outside of the City of South Bend. It is requested that the Redevelopment commission approves $1,500,000 from River We st to match additional grant funding for the Kennedy Park Renovation Project to realize the desired scope. Thank you for your consideration of this request. ______________ ___________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 : March 24, 2026 FROM: Erik Glavich, Director of Growth & Opportunity SUBJECT: Third Amendment to Development Agreement (Great Lakes Capital Madison Lifestyle) 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: Third Amendment to the Development Agreement with GLC, extending the Mutual Project Diligence period for 2 additional months SPECIFICS: On March 28, 2024, the Redevelopment Commission approved a Development Agreement with Great Lakes Capital for the Madison Lifestyle District. The First Amendment (August 22, 2024) corrected an omitted parcel, and the Second Amendment (September 25, 2025) extended the Mutual Project Diligence period from 18 to 24 months. This Third Amendment further extends the Mutual Project Diligence period from 24 months to 26 months (to the end of May) due to circumstances requiring additional planning, coordination, and evaluation. Having moved to the new parking lot at the location of the former South Bend Medical Foundation building, all Beacon staff have recently vacated the project site. Design is largely complete, and the City contractor is preparing to begin work in April. GLC and City staff have worked closely to finalize all considerations related to this complex project of a new parking garage, apartment building, and hotel. This 2-month extension of the Mutal Project Diligence period allows GLC and City staff time to finalize the Notice to Commence. ______________ ___________Pres/V-Pres ATTEST: __________ ________Secretary Date: _____________ _______ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION 1 THIRD AMENDMENT TO DEVELOPMENT AGREEMENT This THIRD AMENDMENT TO DEVELOPMENT AGREEMENT (this “Third Amendment”) is made and entered into to be effective as of March 26, 2026 (the “Effective Date”), by and between the City of South Bend, Department of Redevelopment, acting by and through its governing body, the South Bend Redevelopment Commission (the “Commission”), and Great Lakes Capital Development, LLC, an Indiana Limited Liability Company, with offices at 7410 Aspect Drive, Suite 100, Granger, IN 46530 (the "Developer") (each, a "Party," and collectively, the "Parties"). RECITALS A. The Parties entered into that certain Development Agreement dated effective March 28, 2024, as amended by a First Amendment to Development Agreement dated August 22, 2024 and a Second Amendment to Development Agreement dated effective September 25, 2025 (collectively the “Development Agreement”), pertaining to certain local public improvements to renovate, rehabilitate, and activate the Project Property. B. Section 3.1(a) of the Development Agreement established that the Parties would cooperate in good faith to prepare, evaluate, and agree on a planning schedule regarding various aspects of the Project and established a Mutual Project Diligence period of twenty-four (24) months. C. The Parties continue to engage in Mutual Project Diligence and believe that extending the Mutual Project Diligence period to twenty-six (26) months is necessary and in the best interests of both Parties due to unforeseen circumstances. D. The Parties now desire to amend the Development Agreement as set forth herein. AGREEMENT NOW, THEREFORE, in consideration of these premises, and the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Developer and the Commission hereby 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 Third Amendment as though fully set forth herein. 2. Amendment. The Development Agreement is hereby amended as follows: In Section 3.1(a), the second sentence, which states: “The Mutual Project Diligence shall be completed no later than twenty-four (24) months from the Effective Date.” shall be deleted in its entirety and replaced with the following: Docusign Envelope ID: CE710938-94B8-81AD-81D5-EC1448FE6086 2 “The Mutual Project Diligence shall be completed no later than twenty-six (26) months from the Effective Date.” 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 Third Amendment and the Development Agreement, the terms of this Third Amendment shall control. Capitalized terms used in this Third Amendment will have the meanings set forth in the Development Agreement unless otherwise stated herein. 4. Counterparts; Electronic or Facsimile Transmission. This Third Amendment may be executed in counterparts which, when combined, shall constitute one instrument. The electronic or facsimile transmission of a signed counterpart of this Third Amendment shall be binding upon the party whose signature is contained on the transmitted copy. Signature Page Follows Docusign Envelope ID: CE710938-94B8-81AD-81D5-EC1448FE6086 3 IN WITNESS WHEREOF, the Parties have executed this Third Amendment to Development Agreement to be effective as of the Effective Date set forth above. SOUTH BEND REDEVELOPMENT COMMISSION ______________________________ Troy Warner, President ATTEST: ______________________________ Eli Wax, Secretary GREAT LAKES CAPITAL DEVELOPMENT LLC ______________________________ Bradley J. Toothaker, Manager Docusign Envelope ID: CE710938-94B8-81AD-81D5-EC1448FE6086 South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana Redevelopment Commission Agenda Item DATE : March 26th, 2026 FROM: Patrick Sherman Director of Project Management SUBJECT: Budget Request- River Walk Improvements: Seitz Park to Howard Park 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 a total of $5.6M for the renovation and improvement of the river walk from the newly developed Sietz Park to the City’s signature park, Howard Park. SPECIFICS: The river walk between Sietz Park and Howard Park is a heavily used section of wooden boardwalk that needs to be replaced. The wood and wooden supports are deteriorating with age, and they sit on gabion baskets along the river have been sinking over time creating an uneven trail surface. As the path continues toward Howard Park under the Jefferson Bridge, the trail has awkward blind corners that are not conducive to a safe and comfortable multi-use trail. This project will replace this portion of river walk with a new 14’ wide, concrete multi-use trail, that will be much more comfortable for users to use, and it will be supported by new piers for a long-lasting asset for the community. The project also contains a new staircase on the north side of the bridge down to the riverwalk from the bridge surface and replaces the concrete staircase that goes down to Howard Park on the south side of the bridge to meet current design standards. It is requested that the Redevelopment commission approves $4,000,000 from River East Residential TIF and $1,600,000 from River East to cover the final design and construction of this portion of the riverwalk. Thank you for your consideration of this request. ______________ ___________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 : 3/23/2026 FROM: Joseph Molnar, Deputy Director, Community Investment SUBJECT: Third Amendment Cascade (Wharf) 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: Third Amendment to the Development Agreement with Wharf Partners, LLC, for completion of the Cascade development SPECIFICS: The Redevelopment Commission (RDC) entered into a Development Agreement with Wharf Partners LLC (the “Developer”) effective February 22, 2018, amended in 2018 and 2025. (collectively, the “Agreement”). The Agreement provides support for a two-phase project for the complete redevelopment of the property located just northwest of Seitz Park along the eastern bank of the St. Joseph River. Phase I was completed on December 23, 2019, with the completion of the seven-story tower and underground parking garage. The Developer’s commercial tenant opened a ground floor restaurant open to the public on August 15, 2024, and the jobs created by Phase 1 are more than double the number required by the Agreement. Through Phase I, the Developer significantly exceeded the required private investment. After delays Seitz Park finished allowing access to the Phase II site, the Second Amendment was approved which increased the project scope of Phase II, RDC commitment, and the private investment commitment. Since the Second Amendment was approved in 2025, the Developer has refined the designs of the Phase II while the City has clarified timelines and design on upcoming Colfax Ave Streetscape improvements. During that time, cost estimates have exceeded expectations in 2025, and staff have worked with the Developer to address the complicated scheduling of the City improvements to Colfax Ave while Phase II begins construction. Thus the following terms are proposed. • Increase the Funding Amount for Phase I & Phase II to $10,737,000 (up from $9,237,000) • Increase the Private Investment Commitment to $65,000,000 (up from $63,000,000 in the Second Amendment and $38,500,000 originally) • Update the Local Public Improvements to clarify that a portion of the Funding Amount will be expended during the Colfax Ave Streetscape installing water/sewer laterals _________________________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 • Update the Project Plan to clarify the Developer will complete the Colfax Ave streetscape improvements adjacent to Phase II from the curb line to the Developer’s property In total, the Developer is intending to expend a minimum of $40,500,000 investment into Phase II of the project, far exceeding Phase II estimates at the time the Agreement was approved in 2018. This scale of construction will provide further tax revenues, add increased vitality to the East Bank area and greater Downtown South Bend, and activate a currently vacant lot. Staff recommend approval of the Third Amendment. 1 THIRD AMENDMENT TO DEVELOPMENT AGREEMENT This THIRD AMENDMENT TO DEVELOPMENT AGREEMENT (this “Third Amendment”) is made and entered into to be effective as of March 26, 2026 (the “Effective Date”), by and between the South Bend Redevelopment Commission (the “Commission”), and Wharf Partners, LLC, an Indiana limited liability company with its registered address at P.O. Box 148, South Bend, Indiana 46624 (the “Developer”) (each a “Party,” and collectively the “Parties”). RECITALS A. The Commission and the Developer entered into a certain Development Agreement dated effective February 22, 2018, as amended by a First Amendment to Development Agreement dated December 13, 2018, and a Second Amendment to Development Agreement dated August 28, 2025 (collectively 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 East Development Area (the “Project”). B. The Development Agreement defined the Funding Amount to be an amount not to exceed Nine Million Seven Hundred Thirty-Seven Thousand Dollars ($9,737,000.00) 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 Sixty-Three Million Dollars ($63,000,000) for the costs associated with completing the improvements set forth in the Project Plan (inclusive of Phase I and Phase II , Parts 1 and 2), 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. As of the Effective Date of this Third Amendment, no portion of the Funding Amount has been expended on Phase II of the Project. D. The Parties desire to amend the Development Agreement to increase the Funding Amount and Private Investment, and to recognize certain other changes in the Project. E. The Commission believes that the Developer completing Phase II of the Project as described in this Third Amendment is in the best interests of the health, safety, and welfare of the City and its residents. F. 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 Third Amendment, the adequacy of which is hereby acknowledged, the Parties agree as follows: 1. Recitals. The recitals set forth above are incorporated into and made a part of this Third Amendment as though fully set forth herein. 2 2. Amendments. The Development Agreement is hereby amended as follows: a) In Section 1.3, the text “Nine Million Seven Hundred Thirty-Seven Thousand ($9,737,000.00)” shall be deleted and replaced with the following: “Ten Million Seven Hundred and Thiry-Seven Thousand ($10,737,000.00).” b) In Section 1.4, the text “Sixty-Three Million Dollars ($63,000,000.00)” shall be deleted and replaced with the following: “Sixty-Five Million Dollars ($65,000,000.00).” c) The entirety of Section 5.2(b)(i) shall be deleted. d) The entirety of Section 5.3 shall be deleted and replaced with the following: 5.3 Funding Amount Closing. Notwithstanding anything contained herein to the contrary, once the Commission has expended or obligated, through its own contracts or contracts entered into on its behalf by the Board of Works serving as its agent, at least Ten Million Six Hundred and Eighty-Seven Thousand ($10,687,000.00). The Commission will not be required to expend any further portion of the Funding Amount or otherwise complete any further Local Public Improvements. The Parties mutually acknowledge and agree that, in such circumstances, the Commission's obligation to expend the Funding Amount will be fully satisfied and discharged without the necessity of expending the entire sum of Ten Million Seven Hundred and Thiry-Seven Thousand ($10,737,000.00). e) Exhibit B (“Project Plan”) shall be replaced in its entirety with Exhibit B attached to this Second Amendment. f) Exhibit C (“Description of Local Public Improvements”) shall be replaced in its entirety with Exhibit C attached to this Second Amendment. 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 Third Amendment and the Development Agreement, the terms of this Third Amendment shall control. Capitalized terms used in this Third Amendment will have the meanings set forth in the Development Agreement unless otherwise stated herein. 4. Counterparts; Electronic or Facsimile Transmission. This Third Amendment may be executed in counterparts which, when combined, shall constitute one instrument. The electronic or facsimile transmission of a signed counterpart of this Third Amendment shall be binding upon the party whose signature is contained on the transmitted copy. 3 Signature Page Follows 4 IN WITNESS WHEREOF, Commission and Developer have executed this Third 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 WHARF PARTNERS LLC, an Indiana limited liability company ___________________________________ Thomas Panzica, Member EXHIBIT A Development Agreement, as amended EXHIBIT B Project Plan The Developer will complete the following work in accordance with the terms and conditions of this Agreement and in compliance with all applicable laws and regulations: Phase I Construct a single building consisting, at a minimum, of the following: • Seven (7) stories with thirteen (13) housing units; • Commercial and multi-family space of no less than a combined seven thousand seven hundred (7,700) square feet; and • A private underground parking garage. Phase II Construct a single building consisting, at a minimum, of the following: • Seven (7) stories with twenty (20) housing units; and • Commercial space of no less than a combined ten thousand (10,000) square feet; • One of the following: (A) one (1) additional story with either four (4) additional housing units; or (B) one (1) additional story of commercial space; or (C) multi-family space totaling no less than ten thousand (10,000) square feet; and • A private underground parking garage. • Developer will require occupying portions of City’s right-of-way within the City’s planned work including the sidewalk and landscaping area behind the curb. The City will not be able to complete that work in this area as normally scheduled to ensure safety and site control during Cascade Phase II construction. The City will be able to install the curb, inlets and sewer laterals on the south side of Colfax, adjacent to the Cascades development, during the construction of the Colfax Ave Streetscape project. • Developer is responsible for completing the Colfax Ave Streetscape work adjacent to the project site from behind the curb to the property line. The contractor is required to attain a maintenance bond for this work. Developer is required to complete the work to City standards and to the specifications and plans outlined in the City’s project. EXHIBIT C Description of Local Public Improvements The Commission will complete, or cause to be completed, the following work in accordance with the terms and conditions of this Agreement and in compliance with all applicable laws and regulations: Phase I Site preparation, infrastructure elements, and/or other improvements to the Developer Property necessary for the Developer's completion of Phase I the Project, to be further specified by the Developer as soon as reasonably practicable. Phase II Site preparation, infrastructure elements, construction materials, and/or other exterior improvements to the Developer Property necessary for the Developer's completion of Phase II the Project, to be further specified by the Developer, and approved by the Commission, as soon as reasonably practicable. The Commission will perform the work of installing the water services and sewer laterals needed for Cascade Phase II during the construction of the Colfax Ave Streetscape project with the associated costs as determined by the Commission being paid for through the Funding Amount. It is understood between the Parties that the Commission will contribute an amount not to exceed the Funding Amount specified in Section 1.3 (Funding Amount) of this Agreement for the Local Public Improvements. The Developer shall have the sole responsibility to fund any and all costs associated with Local Public Improvements which exceeds this amount. Any and all costs associated with improvements not explicitly described above and not approved pursuant to Section 4.10 (Specifications for Local Public Improvements) or that require funding above the Funding Amount are the sole responsibility of the Developer. South Bend Redevelopment Commission 215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana TO: South Bend Redevelopment Commission FROM: Kyle Willis, Controller, City of South Bend DATE: March 24, 2026 RE: Annual Fiscal Report (IC 36-7-14-8) 2025 Fiscal Report A. Overview Under Indiana Code (IC) 36-7-14-8(b), the treasurer1 of the South Bend Redevelopment Commission (the “Commission”) must submit an annual report to the Commission. This report provides an overview of the Tax Increment Financing (TIF) activity for fiscal year 2025, including revenues and expenses, as well as 2026 anticipated property tax increment revenues for each allocation area. B. 2025 Revenue For all allocation areas (TIF districts), incremental property tax revenue decreased $601,305 (down 1.5%) in 2025 compared to 2024. Despite the decrease in revenues from 2024, the combined incremental property tax revenue for all TIF districts in 2025 was 9.9% higher than revenue in 2023 ($36.72 million). The table also provides projected 2026 revenues, which is estimated to be a 2% increase over 2025 revenues. TIF District FY26 Projected FY25 Actuals FY24 Actuals YoY Change River West TIF District $ 20,815,353 $ 20,605,180 $ 20,520,362 0.4% West Washington TIF District 526,593 521,276 610,117 -14.6% River East 1 (Northeast) TIF District 8,208,637 8,125,754 8,221,833 -1.2% Southside TIF District #1 3,476,691 3,441,587 3,445,271 -0.1% Douglas Road TIF District 281,544 278,701 346,093 -19.5% River East 2 (Northeast Residential) TIF District 7,443,645 7,368,486 7,798,613 -5.5% Total Property Tax Revenue $ 40,752,462 $ 40,340,984 $ 40,942,289 -1.5% 1 Per IC 36-7-14-8(b), the “treasurer” of the Commission is defined as the “fiscal officer of the unit establishing a redevelopment commission.” The Controller is the “fiscal officer” for the City of South Bend. South Bend Redevelopment Commission 2 C. 2025 Expenses The table below summarizes total expenditures in 2025 for each TIF district with a net decrease of approximately $22.68 million (down 37.4%) in comparison to 2024. Infrastructure improvements (e.g., sewers, streets, etc.) accounted for $4.35 million, while public and private building improvements had total expenditures exceeding $7.07 million. Debt service accounted for $12.71 million (see Section D). Expenditures in 2025 also included $2.11 million in demolition and clearance services and $951,600 for legal and other professional service costs. Projects supported by TIF projects include the Martin Luther King Jr. Dream Center ($1.02 million), City Hall ($735,000), Seitz Park ($849,000), 466 Works affordable housing project ($1.28 million), and Intend Indiana in-fill housing project ($1.25 million). TIF District FY25 Actuals FY24 Actuals YoY Change River West TIF District $ 21,874,783 $ 39,245,605 -44.3% West Washington TIF District 174,380 1,208,357 -85.6% River East 1 (Northeast) TIF District 7,622,273 5,176,736 47.2% Southside TIF District #1 3,010,998 8,034,036 -62.5% Douglas Road TIF District 348,434 0 River East 2 (Northeast Residential) TIF District 4,945,322 6,992,824 -29.3% Total Expenditure $ 37,976,190 $ 60,657,558 -37.4% D. Debt Service TIF District FY25 Debt Service Payments FY24 Debt Service Payments River West TIF District $ 6,972,444 $ 8,195,425 River East 1 (Northeast) TIF District 1,194,930 784,200 River East 2 (Northeast Residential) TIF District 4,546,017 4,554,889 Total Debt Service $ 12,713,391 $ 13,534,514 E. Year-End Fund Balance TIF District FY25 Actuals FY24 Actuals YoY Change River West TIF District $ 36,524,968 $ 28,107,758 29.9% West Washington TIF District 1,755,986 1,346,604 30.4% River East 1 (Northeast) TIF District 22,251,787 21,696,392 2.6% Southside TIF District #1 9,401,229 8,620,393 9.1% Douglas Road TIF District 951,912 980,537 -2.9% River East 2 (Northeast Residential) TIF District 12,976,450 10,131,628 28.1% Total Fund Year-End Balances $ 83,862,332 $ 70,883,312 18.3% _______________________________________ ____________________ Kyle Willis, Controller Date 3.24.26