5A6 2nd. Amendment to Development Agreement (GLC Development, LLC) - Signed

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South Bend Redevelopment Commission 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana Redevelopment Commission Agenda Item DATE : 9/22/25 FROM: Erik Glavich, Director, Growth & Opportunity SUBJECT: 2nd Amendment, Development Agreement (Great Lakes Capital) 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: Second Amendment to Development Agreement with Great Lakes Capital for the Madison Lifestyle District development project. SPECIFICS: On March 28, 2024, the Redevelopment Commission approved a Development Agreement with Great Lakes Capital for a large redevelopment project in downtown immediately south of Memorial Hospital. The project, known as the Madison Lifestyle District, is a historic and transformative development that requires significant coordination by the City, the Developer, and others involved the project. The Development Agreement established an 18-month period (the “Mutual Project Diligence” period) for the City and the Developer to work together through planning and other due diligence items. Through this Second Amendment to Development Agreement, t he City and the Developer both desire to extend the Mutual Project Diligence period to 24 months to March 28, 2026. (Note that the first amendment on August 22, 2024, corrected an inadvertent omission of a single parcel from references to the Project Property in certain portions of the Development Agreement.) _________________________Pres/V-Pres ATTEST: __________________Secretary Date: ____________________ APPROVED Not Approved SOUTH BEND REDEVELOPMENT COMMISSION September 25, 2025 