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South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />DAT E : 10/4/2024 <br />FROM: Joseph Molnar, Assistant Director of Growth and <br />Opportunity <br />SUBJECT: 410 W Wayne RFP Submission Recommendations <br />Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res. <br />* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the <br />authorization of the expenditure of such funds shall be void and of no effect. <br />PURPOSE OF REQUEST: Recommendation for Staff to enter direct negotiations for the sale of 410 W Wayne with <br />Stoic Distillery <br />SPECIFICS: On August 22nd, 2024, the Redevelopment Commission opened bids in response to a Request for <br />Proposals for the reuse of 410 W Wayne in downtown South Bend. In total, four (4) bids were submitted for <br />consideration. RDC Staff have reviewed all bids as well as additional follow-up information requested of some of <br />the bidders. <br />After reviewing all four bids and supplementary information, RDC staff recommend drafting a formal Purchase <br />Agreement with Stoic Distillery for the sale of 410 W Wayne using the base terms of the August 22nd bid <br />submission with the final use of the property intended as a full production distillery and tasting room with <br />outdoor seating and recreational space, and a commercial kitchen. The recommendation would only be for the <br />sale of the 410 W Wayne parcel and not the larger RDC owned parking lot immediately adjacent to the south. <br />The proposal submitted by Stoic Distillery, as well as subsequent follow up information, demonstrates a clear <br />business plan, secured financing, and an ownership group with experience successfully operating similar <br />endeavors. If the Redevelopment Commission confirms this recommendation, RDC staff will enter direct <br />negotiations with Stoic Distillery with the intention of soon after bringing a formal and finalized Purchase <br />Agreement to the Redevelopment Commission. <br />_________________________Pres/V-Pres <br />ATTEST: __________________Secretary <br />Date: ____________________ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />10-10-2024 <br />