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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – October 9, 2025 <br /> <br />6 <br /> <br />price is intended as an incentive to bring Michigan Motorsports to <br />South Bend—encouraging them to relocate operations and employees, <br />which would generate local income tax revenue. While the price is <br />likely below the appraised value, it reflects a strategic decision similar <br />to other negotiated sales where property is offered below market to <br />support economic development. In this case, the company plans to <br />invest over $4 million into the city, making the site selection mutually <br />beneficial. <br /> <br />Secretary Wax thanked the company for developing and choosing <br />South Bend. <br /> <br />Upon a motion by Eli Wax for approval, seconded by Ophelia Gooden- <br />Rodgers, the motion carried unanimously; the Commission approved <br />the Purchase Agreement as presented on October 9, 2025. <br /> <br />3. Development Agreement (Cross Community) <br /> <br />Joseph Molnar, Assistant Director of Growth and Opportunity, <br />presented this Development Agreement with Cross Community, a local <br />nonprofit developer who has been building affordable housing in the <br />Near Northwest Neighborhood. The Development Agreement commits <br />Cross Community to constructing a new six-unit apartment complex <br />and two affordable single-family homes. <br /> <br />This Agreement specifies that (1) the Funding Amount provided by <br />Redevelopment Commission will not exceed $480,000 and (2) the <br />Private Investment by the Developer will be no less than $1.3 million. <br />The Developer agrees to complete the project by the end of 2028. The <br />Funding Amount will be used to install new utilities, construct new <br />curbs, sidewalks and/or pedestrian walkways, and construct <br />foundations of housing units in support of the project. <br /> <br />Tina Patton, President of Cross Community shared that the <br />organization was founded in 2016 and has partnered with the City of <br />South Bend through a pilot subsidy program. They built five single- <br />family homes in the Near Northwest neighborhood, which are now <br />occupied and well-maintained by families. Cross Community also runs <br />a financial literacy program, having trained over 250 families to prepare <br />for homeownership. While housing inventory is limited, new <br />developments—about 150 homes over five years—are planned by <br />outside organizations. Tina emphasized her pride in being a local <br />developer contributing to affordable housing in South Bend. She <br />expressed excitement about continuing the partnership with the City <br />and helping individuals improve their finances. Many of those served <br />had previously been denied by banks, but now they’re being approved