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MAJOR CAPITAL PROJECT DESCRIPTION <br />FOR YEARS 2005 - 2008 <br />Projected Ongoin eratin~ Cost Impact <br />Operating costs may increase due to the street tree planting program. However, the first phase of <br />improvements is scheduled for an area akeady covered by the downtown maintenance crews. <br />Therefore, additional costs will be minor. If this activity is expanded to its fu1120 blocks over the <br />next 10 yeazs, costs will increase. <br />East Bank Streetscape $1,000,000 (2005-2008) <br />and Gateway Improvements <br />This project is part of the East Bank Development Area plan. The project will be conducted in <br />conjunction with the South Bend Downtown Partnership and consists ofthe continuation ofthe street <br />improvements throughout the project area. Streets will be selected contingent on private <br />development. The improvements will include new curbs and sidewalks, street trees and lights. <br />Additional perpendiculaz on-street parking spaces will be developed as part of this project. Special <br />entry way signage and azea signage will also be included in the project. <br />Activity <br />2005 $ 250,000 <br />2006 250,000 <br />2007 250,000 <br />2008 250,000 <br />TOTAL $1,000,000 <br />Fundin Source <br />South Bend Central Development <br />Area Tax Increment Fund (SBCDA <br />TIF), County Option Income <br />Tax (COIT) and County Economic <br />Development Income Tax (CEDIT) <br />Projected Ongoing_Operating Cost Impact <br />See comments for Downtown Streetscapes and Gateway Improvements/Repairs. <br />Downtown Property AccLuisitions <br />$1,600,000 (2005-2006) <br />This project consists of the acquisition of vacant land, substandazd buildings, and incompatible or <br />mazginal land uses in the downtown redevelopment area. The property will be assembled, cleared, <br />and disposed of through the public bidding process to private sector entities for developments <br />consistent with the Downtown Redevelopment Plan. The proposed acquisitions and subsequent <br />development will continue the community's redevelopment effort in downtown South Bend. <br />Underutilized or vacant buildings and land will be developed to increase the tax base, attract and <br />retain businesses in the downtown, and replace marginal activities with viable economic activities. <br />The blocks and pazcels targeted for acquisition will be identified in the new 2020 SBCDA Physical <br />Development Plan. <br />D-33 <br />