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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – May 14, 2026 <br /> <br />Page | 3 <br /> <br />6,000 square-foot building on the western parcel. The concept plans <br />shown here are preliminary and intended to provide a general sense of <br />the proposed layout and design. <br /> <br />Regarding the construction timeline, Phase One must begin within 18 <br />months of closing and be completed by 24 months. Phase Two must <br />begin 36 months and be completed 48 months after closing. Upon <br />completion of each phase, and confirmation that all commitments have <br />been met, staff will return to the Commission with a Certificate of <br />Completion for approval. <br /> <br />Ms. Michaels also explained that light industrial flex space is a gap in the <br />City’s current real estate portfolio. We frequently receive requests from <br />small businesses and startups seeking to lease smaller-scale industrial <br />space—often just a few thousand square feet. However, most available <br />industrial or warehouse properties in the city are significantly larger, <br />typically ranging from several thousand to over 10,000 square feet, <br />which exceeds their needs. <br /> <br />Upon a motion by Ophelia Gooden-Rodgers for approval, seconded by <br />David Relos, the motion carried unanimously; the Commission approved <br />the Purchase Agreement as presented on May 14, 2026. <br /> <br />3. Development Agreement (Tri-Day Development) <br />Joseph Molnar, Deputy Director of Community Investment, presented <br />the first of two agreements with trusted local partners. The first <br />agreement is with South Bend Heritage for the proposed Tri-Day <br />development. The site is located south of the future New Day Intake <br />Center on a larger parcel that was not fully needed for that project. The <br />Commission previously approved a purchase agreement in July 2025, <br />contingent on South Bend Heritage receiving Low-Income Housing Tax <br />Credits (LIHTC), which were awarded in November 2025. <br /> <br />The development agreement requires a minimum of 42 units, including <br />32 income-based units and 10 permanent supportive housing units. <br />South Bend Heritage will invest approximately $13.7 million in private <br />funding. The City will commit up to $4.6 million for infrastructure <br />improvements, including roads, sewer, and water utilities. Current <br />estimates are approximately $3.5 million, with remaining funds <br />providing contingency or returning to the TIF if unused. Construction <br />must begin within 10 months of closing, with closing expected by the end <br />of 2026, and completion anticipated within 30 months. <br /> <br />Mr. Molnar noted this is the City’s eighth LIHTC award since 2023— <br />compared to none from 2013–2023—totaling 649 affordable units