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<br />South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br /> <br /> <br /> <br />Redevelopment Commission Agenda Item <br /> <br />DATE : 3/10/25 <br /> <br />FROM: Joseph Molnar, <br /> Assistant Director of Growth & Opportunity <br /> <br />SUBJECT: First Amendment Economic <br />Development Agreement <br /> <br /> <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 /> <br />PURPOSE OF REQUEST: Approval of the First Amendment to the JC Hart Development Agreement <br /> <br />SPECIFICS: On January 9, 2025, the Redevelopment Commission (“RDC”) and JC Hart Company (the “Developer”) <br />approved an Economic Development Agreement (“Agreement”). The Agreement committed both the RDC and <br />the Developer to certain commitments in relation to a transformational project on the western bank of the St. <br />Joseph River in downtown South Bend. <br /> <br />The Developer commitments included the demolition of an existing office building, construction of two (2) new <br />multi-family residential buildings with a minimum of two hundred and ninety-one (291) units, and a three <br />hundred and ninety-eight (398) parking space garage. The minimum Developer investment is $61.5 million. The <br />City committed to undertaking the construction of public infrastructure improvements to support the project, <br />including those necessary to re-establish a street grid and utility network at the project site, including <br />construction of new streets, curbs and sidewalks, installation of lighting, relocation of existing or building of new <br />utilities serving the project site, and other improvements in support of the project as agreed upon between the <br />parties. <br /> <br />The attached First Amendment provides further detail regarding the scope of the RDC commitments as outlined <br />in the Agreement, including specifications regarding the roadway improvements, utility relocations, and <br />easement releases committed to by the RDC in the Agreement. The First Amendment also identifies details of <br />construction standards, coordination of work, and other related terms. <br /> <br />Staff recommends approval. <br /> <br /> <br /> <br /> <br /> _________________________Pres/V-Pres <br /> <br />ATTEST: __________________Secretary <br /> <br />Date: ____________________ <br /> <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION