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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – October 9, 2025 <br /> <br />5 <br /> <br />to market and sell the property to a third party and the proceeds of the <br />sale will be transferred to IRF. <br /> <br />4Boys4 Investments LLC is an entity of Michigan Motorsports who <br />wish to move their business to the City of South Bend from Niles, MI. <br />Michigan Motorsports is a family-owned business that provides high- <br />quality, affordable performance parts for various automotive engines. <br /> <br />The Agreement commits Michigan Motorsports to the following terms: <br />• Purchase Price: $50,000.00 <br />• Due Diligence Period: 90 days <br />• Closing Deadline: 30 days after due diligence period <br />• Minimum Investment: $4,000,000.00 <br />• Construction Start Deadline: 12 months after closing <br />• Construction Completion Deadline: 36 months after closing <br />• Certificate of Completion issued by the RDC once construction <br />is complete <br />• Job Creation Requirement: 20 full-time jobs and maintain for 5 <br />years after Construction Completion Date <br />• Reporting must be submitted to RDC on June 30th and <br />December 31st of each year until substantial completion of <br />construction and on April 15th of each year after completion of <br />construction <br /> <br />The sale of this property will bring currently vacant land to productive <br />use, while bringing a successful business to the City of South Bend. <br /> <br />Dan Baber and his wife, Easter, founded Michigan Motorsports, a web- <br />based retailer for performance automotive parts. They help customers <br />upgrade vehicles, like installing modern engines in classic cars—and <br />provide design support and parts. The business began in their <br />basement, expanded to a building in Niles, and now has 15 <br />employees. On busy days, they ship up to 1,000 orders across the <br />U.S. and internationally. After outgrowing their Niles location, they <br />found this site as a potential new headquarters and distribution center <br />in South Bend, just 10 minutes away. The site offers better logistics <br />and access to a larger talent pool, making it ideal for continued growth. <br /> <br />Commissioner Ellison asked, “are you recommending a sale price of <br />$50,000 for the property because that’s realistically what we could get? <br />I understand it was previously offered at $169,000 about five years ago <br />with no bids, and while there’s been some interest since then, nothing <br />substantial has materialized. Does the $50,000 reflect an incentive to <br />attract Michigan Motorsports to South Bend, including the economic <br />benefits like employee relocation and income tax revenue—even if it’s <br />below the appraised value?” Mr. Molnar explained the $50,000 sale