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South Bend <br />Redevelopment Commission <br />215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />DATE : 11/4/2025 <br />FROM: Joseph Molnar – Assistant Director of Growth <br />& Opportunity <br />SUBJECT: Purchase Agreement for 4124 Old Cleveland <br />Road Acquisition <br />Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res. <br />*Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, <br />then the authorization of the expenditure of such funds shall be void and of no effect. <br />PURPOSE OF REQUEST: Staff requests consideration of a Purchase Agreement for the property located <br />at 4124 Old Cleveland Road <br />SPECIFICS: On January 23rd, 2025 the Redevelopment Commission (RDC) approved an Option to <br />Purchase Agreement for the property located at 4124 Old Cleveland Road. In Section 2 of the Option <br />Agreement, the Commission stated that the intended purpose of the adjacent parcel was for the New <br />Day Intake Center. As financing has been secured and all regulatory approvals have been granted for <br />the Intake Center, Staff would like the Commission to exercise their option to purchase 4124 Old <br />Cleveland Road. The owners of this property also desire for the Option to be exercised at this time as <br />well. This is a currently single-family residential property located near and adjacent to other City of South <br />Bend owned properties. <br />The proposed Purchase Agreement contains the terms and conditions laid out in the Option to Purchase <br />Agreement which include the following: <br />-Purchase Price: $374,000 <br />-Due Diligence Period: 60 days <br />-Closing Deadline: 6 months after Due Diligence Period <br />-Current owners will have a period of six months after closing to remove all personal items from <br />premises <br />Staff propose the acquisition of this property to allow for the redevelopment of the area and believe <br />there is the potential for a higher and better use of the site than currently utilized. Acquiring 4214 Old <br />Cleveland Road will allow for the City to strategically plan for redevelopment of an entire stretch of Old <br />Cleveland Road that is currently underutilized. <br />______________ ___________Pres/V-Pres <br />ATTEST: __________ ________V-President <br />Date: _____________ _______ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />November 13, 2025 <br />