Redevelopment Authority Meeting Minutes 3.10.25 - Signed

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CITY OF SOUTH BEND ; REDEVELOPMENT AUTHORITY approved the Minutes of the Meeting of December 19, 2024. 3. New Business A. Maintenance and Temporary Construction Easement Agreement (South Bend Riverwalk Partners / J.C. Hart Company) President Anthony Fitts noted for the record that he has a past relationship with Holladay Properties, however, is not involved with this partnership or this project. Danielle Campbell Weiss, Senior Assistant City Attorney, stated that that would not be a conflict of interest since this is regarding easement rights and does not have monetary involvement. Joseph Molnar, Assistant Director Growth & Opportunity, presented this development agreement with J.C. Hart Company Inc. Mr. Molnar explained the agreement is for transformative residential housing for two (2) multi -family residential buildings (291 total apartments) and a 398- space parking garage. A minimum $61.5 million in private investment is required per the agreement with City funding some infrastructure improvements (i.e.new street; utilities) through the $5.64 million READI 2.0 award on the west bank of the St. Joseph River. Mr. Molnar showed a rendering of the area and stated that this fulfills the first phase of the Monroe Park neighborhood plan for this area which was approved 2 1/2 years ago, by the Common Council. Mr. Molnar explained that the Authority is here today is that they own this long track along the bank of the river and due to demolition, construction, and maintenance, the sidewalk may have temporary closures. He stated that there are two (2) pieces to the easement. First, a grant of maintenance easement along a small section of the Riverwalk. The second, a maintenance easement, would allow access for maintenance repair and is solely for the development area. J.C. Hart Company Inc. would provide 48-hour notice to the City if there was a need for the sidewalk to be temporarily blocked and agreed to do their best to keep the fencing within the grassy area and not cross over except when absolutely necessary. They have also agreed that at the conclusion of the construction easement, they would restore the area to its original condition, and if there's any damage to the property, they shall repair it at their own expense. The timeline for the project would start in March of 2025 and be completed by the end of 2028. Mr. Molnar gave a brief overview of the developer, J. C. Hart Company, Inc. They are an Indiana based company and have been in business since 1976, they are a Hall of Fame employer, and 12-times voted Best Place to Work. They have also been voted Indiana Association Property Management company of the year 2009, 2014, and 2022. They are responsible for over 6,750 multi -family units managed within Indiana and Page 12