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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 />D ATE : June 9, 2026 <br />F ROM: Erik Glavich, Director of Growth & <br />Opportunity <br />SUBJECT: Development Agreement – The Row at Ward <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: Development Agreement for The Row at Ward Project (Developer: ID2 LLC) <br />SPECIFICS: The Commission will consider a development agreement for Phase 1 of a new housing <br />development on the 800 block of Portage Avenue by local development team ID2 LLC. In April, the <br />Commission executed a purchase agreement with the developer for the land on which Phase 1 will be <br />located. <br />The team behind ID2 LLC has been building and rehabilitating mixed-income housing in the Near <br />Northwest Neighborhood for several years. The proposed Development Agreement commits ID2 LLC to <br />construct 15 new housing units across 10 lots. Of these, 4 properties will be sold to households at or <br />below 100% AMI, and an additional 3 properties will be sold to households at or below 120% AMI. These <br />commitments are consistent with the terms of the Purchase Agreement, contingent upon the Commission <br />adopting a related amendment currently under consideration. <br />If approved, the Development Agreement specifies that (1) the Funding Amount provided by the RDC will <br />not exceed $950,000, and (2) the developer will invest no less than $2.1 million in private funds. The <br />developer also agrees to complete the project within 24 months of closing on the property. <br />The RDC funding will be used for structural work, including foundations and footings, as well as for the <br />purchase of key materials such as framing, windows, and doors. <br />______________ ___________Pres/V-Pres <br />ATTEST: __________ _______ _ <br />Date: _____________ _______ <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />June 11, 2026 <br />