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the federal level. South Bend must simply commit itself, move forward, and accept <br />the reality of schedules that are often beyond the control of the local community. The <br />key is not to give up and continue to work through revised timetables. The proposed <br />funding sources are listed on Table 1. The proposed schedule of activities and <br />expenditures are contained in Table 2. <br />It is obvious that in determining a seven -year budget, project costs and revenue <br />projections is not a science. Funding sources will fluctuate. Some funding sources <br />may decline or disappear altogether. Priorities within the neighborhoods may change. <br />Unexpected opportunities and challenges may suddenly appear. Federal and state <br />programs will ebb and flow and priorities will change in Washington, D.C. and <br />Indianapolis. The following tables should be reviewed from a strategic viewpoint and <br />not a tactical, detailed perspective. The purpose of this section of the plan is to <br />outline a financial plan that is a guide with a set of milestones. The plan must be <br />reviewed at least annually and revisions made as appropriate. <br />Several aspects of this proposed funding /activity /expenditure schedule must be <br />highlighted. <br />• Tax increment financing amounts will depend, in the early years, on <br />only a few private sector taxpayers. These taxpayers, such as New <br />Energy, Airco and Steel Warehouse will carry the burden in the early <br />years. This places our budget in a vulnerable situation because <br />revenues will be reduced if the taxes are not paid. <br />• The proposed funding sources reflect, for the most part, a status quo <br />situation. New funding sources must be developed. An entrepreneurial <br />approach by public agencies and neighborhood organizations is <br />required. <br />• Several sources of funds that will be available are not included in this <br />funding plan. These sources include the Christmas in April Program <br />which is committed to the Southeast Neighborhood for the two years of <br />1993 and 1994. This could add an additional $500,000 to $750,000 of <br />value each year in terms of labor, materials, and service to specified <br />homeowners. Another source that is not included is the newly formed <br />Community Homebuyers Corporation which will provide funds for first <br />time homebuyer acquisitions and rehabilitations. <br />• The funding plan also includes a future "local option income tax" as a <br />funding source in the later years. The City has committed that any new <br />option tax will be committed to neighborhoods and infrastructure. <br />M-92 <br />5/21/93 <br />