Redevelopment Commission Agenda & Packet 09.25.25

Home Browse Search

CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – September 11, 2025 7 Upon a motion by Eli Wax for approval, seconded by David Relos, the motion carried unanimously; the Commission approved Resolution No. 3648 as presented on September 11, 2025. 3. Second Amendment to Development Agreement (The Monreaux) Erik Glavich, Director of Growth and Opportunity, presented this Second Amendment to the development agreement and pointed out that the draft that was provided in the packet has a change in language at the top of page 2, Proposed 1.2 in the draft included in the packet which reads; “Subject to annual appropriation by the Commission to simultaneously reimburse the city for its costs incurred or to be incurred through the loan agreement”. The final version for consideration and presented to the Commission changes the words “for its costs incurred, or to be incurred” was changed to “for advances the city has made, or will make, through the loan agreement”. The amendment is for $303,000 for siding upgrades. The First Amendment to the Development Agreement only included the forgivable loan portion and did not contain the standard language typically used in agreements for local public improvement projects. Through negotiations with the developer, we’ve now added back in that standard language. We also clarified the developer’s commitments and how we’ll verify when those commitments are met. For example, you’ll see a reference to an affidavit of completion in the updated agreement. With the amendments, the developer’s private investment commitment for the project has increased by $4 million, going from $13.7 million to $17.7 million. Both Commissioner Wax and Relos stated they had reservations; however, they want the project to succeed and approve of the value engineering and design upgrades. Mr. Glavich stated that while working with Ms. Peters, the goal was to restore some of the building’s aesthetic features to better match the neighborhood’s character. He then showed an image with a proposed design showing more defined architectural elements—like changing the upper siding from gray to red and using darker brick on the lower portion. These updates are considered more visually appealing for this part of downtown. The quote for these changes from her contractor came to $303,000 which is the amount of the proposed increase in the Funding Amount. It’s important to note that the amendment being considered does not commit the city to purchasing the siding alone, it’s part of a broader discussion.