08-17-2007 New strategy seeks to expand downtown renaissance

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o�sou Tx F dx :J b W eFacE � � y� a 1, a2 1865 Office of the Mayor NEWS RELEASE August 17, 2007 11:30 a.m. New strategy seeks to expand downtown renaissance Contact: Mikki Dobski, Director of Communications&Special Projects, 235-5855 or 876-1564 or Jeff Gibney,Interim Director of Community&Economic Development, 235-9371 In three years, downtown South Bend could have a new central square, increased redevelopment north of a reoriented Coveleski Regional Stadium, a clear strategy for new development in the East Bank Village, and a new hotel and a pharmacy in its center core. Mayor Stephen J. Luecke outlined that vision today as part of a new three-year downtown strategy, which prioritizes the city's investments to create and expand opportunities for partnerships for new development. The announcement came following the presentation to the Redevelopment Commission of the city's 2008 plan for spending resources generated by the downtown tax incremental finance, or TIF, district. Growing out of priorities identified in City Plan and resulting from a change in leadership in 2007 in the city's department of Community and Economic Development, the downtown strategy follows months of planning by an ad-hoc group and now will be reviewed by key stakeholders, public and private, before it is finalized. "There's been an undeniable renaissance in South Bend's downtown as we've seen a concentration of the region's live entertainment options along the Michigan Street corridor. This strategy will help continue that rebirth through all parts of downtown by publicly identifying the city's development priorities," Luecke said. "With this strategy, all developers and citizens will know my administration's intentions for downtown development, and it will shape the day-to-day priorities of staff." The six-page Central Area Development Strategy identifies how the city will allocate resources to spur private investment. Through 2008 alone, city will invest nearly $3.8 million toward priorities that seek to: ■ Reconstruct Michigan Street from Western Avenue to LaSalle Avenue, refurbish the