Redevelopment Commission Agenda & Packet 10.09.25

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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – September 25, 2025 10 redevelopment of the area and are currently almost entirely vacant, except for one small operating business. This project represents a unique public-private partnership between Great Lakes Capital and Beacon Health System. The City has made commitments to Beacon that helped unlock these parcels, and certain aspects of the deal—like structured parking—could only be provided by the City. As with any negotiated deal, some elements were discussed, and others were not. Cash consideration was part of the conversation at one point, but the current structure protects the City’s interest in redeveloping these blocks—regardless of Great Lakes Capital’s ability to deliver Phase 2, which we remain confident they will. Still, in the broader picture, we can’t risk these blocks remaining undeveloped if economic conditions change. With this structure, the City now holds title interest in the property, ensuring redevelopment can move forward no matter what happens. Ms. Campbell Weiss also stated that with the original development agreement, one of the due diligence items agreed to be the Commission’s commitment to acquire this property, which would be at the Commission’s sole cost and expense. The need to still acquire this final parcel was also a key reason for the prior agenda item regarding the Second Amendment to Development Agreement. Richard Nussbaun spoke in favor of the project and thanked the Commission as well as City staff. Matt Barrett and Tina Patton asked to table the request due to concerns with the overall transaction. Vice President Relos also expressed concerns with the figures presented however, he asked the other Commissioners to look at the bigger picture and trust staff’s judgement and spoke in favor of the agreements. Commissioner Shaw stated that this creates a win-win situation: we can move forward with Phase 2 of the Madison Lifestyle District while also supporting the Jefferson Centre, which has lost access to parking over the past 25 years. Given the City’s ongoing downtown development efforts, which sometimes reduce available parking, this series of interrelated agreements helps balance both priorities. It supports the growth of the Madison Lifestyle District and gives the Jefferson Centre a better chance to increase occupancy. She also asked what does the Jefferson Centre predict an increase of occupancy; Mr. Glavich stated an estimate of 30 tenants at capacity but is currently only half rented with 15 tenants. Joe Molnar, Assistant Director of Growth and Opportunity, commented that Leighton Garage is currently underutilized so providing parking at