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<br />South Bend <br />Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br /> <br /> <br /> <br />Redevelopment Commission Agenda Item <br /> <br />DATE: 4/3/2025 <br /> <br />FROM: Caleb Bauer – Executive Director of <br />Community Investment <br /> <br />Joseph Molnar – Assistant Director of Growth & <br />Opportunity <br /> <br />SUBJECT: 1st Amendment Purchase Agreement – State <br />Theatre <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 a first amendment to the real estate purchase agreement for the State <br />Theatre located at 212 & 216 S Michigan St <br /> <br />SPECIFICS: The RDC approved a Real Estate Purchase Agreement on February 13, 2025, for the State Theatre <br />located at 212 & 216 S Michigan St and City staff have begun the due diligence process to investigate the <br />condition of this property. Through the due diligence process Staff have been investigating various issues of the <br />building including structural and engineering analysis of the current state of the structure. The RDC staff <br />requested from the current owner an additional fifteen (15) days to conclude the due diligence process. The <br />owner agreed with the request. <br /> <br />The attached First Amendment extends the due diligence period by fifteen (15) days. No other substantive <br />changes have been made to the original agreement. <br /> <br />Staff recommends approval. <br /> <br /> <br /> <br /> <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