Amendment to PSA - MPinsky dba Four Five Advisors - Implement CDFI Friendly City Model in SB

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�/Dl FIVE/FOUR A D V I S O R S Proposed Scope of Work: Phase II CDFI Friendly South Bend Background Over the past nine (9) months, the City of South Bend with assistance from private and civic partners has explored the possibility of making South Bend a CDFI Friendly Community on terms and in ways that reflect the community's strengths, opportunities, and challenges. That worked culminated in a public convening on June 4, 2019, with broad agreement to proceed to the next, second phase. On Friday, June 21, 2019, the broad CDFI Working Group advising the effort endorsed the plan to proceed. Proposed Scope of Work As detailed initially in September 2018, the next phase of work would comprise business planning to fully articulate how the concept of CDFI Friendly South Bend would be implemented, including but not limited to a deeper understanding of the level of market demand for various uses, identification of the local, regional, and national CDFI partners likely to participate, sources and uses of capital, structure and responsibilities of the enterprise, and strategies and tactics over a three-year period. That planning would require rigorous research, planning and organizing with community -based organizations, financial institutions working in or near the market, the City, local philanthropic partners, business owners and operators, developers and entrepreneurs, and others. Five/Four Advisors uses business planning both to formulate and to test the viability of the business model at the heart of what would become CDFI Friendly South Bend. By detailing the what, how, why, when, and who of the start-up effort, the business plan will give sufficient clarity and granularity so that all prospective participants can make decisions that are likely to stand going forward. For instance, the structure and governance of the CDFI Friendly entity needs to represent an array of local interests or key players will shy away from the table. Prospective investors and funders would should know the planned terms and conditions. And South Bend residents need to be able to see clearly what is being done and how it will benefit them. To those ends, Five/Four Advisors expects to commit 36-48 days of work from July 1, 2019- December 31, 2019 to developing the business plan in a hands-on process through meetings with stakeholders in South Bend, discussions with investors and funders in South Bend and elsewhere, research, financial planning and modeling, writing, and presenting the business plan. The end product will be a written implementable business plan for this startup organization. The product of that work will be an effort, probably a nonprofit entity (likely a nonprofit, 501.c.3 under the U.S. tax code), that will be branded as CDFI Friendly South Bend. The business plan will