Laserfiche WebLink
Construction Permits, another indicator of growth and progress, continued its growth from last year with <br /> significant private investment in new construction throughout the city <br /> There was continued growth in new residential units in the South Bend downtown. <br /> Downtown development continued growth in 2018, with the ground breaking of the 10 story 144 <br /> apartment and supermarket, East Bank Flats;as well as the 100-foot-tall Three Twenty at the <br /> Cascade, which is one of the tallest structures built in downtown South Bend in over two decades. <br /> The Three Twenty at the Cascade also features 18 high-end condominiums ranging from one half <br /> to one million per unit. <br /> • <br /> L11 i[ [k`g q <br /> � <br /> ,�-\`� ��,� •'ate <br /> `4 \` <br /> v t \ -411R <br /> sem <br /> W.$ <br /> S � ' nn >_ <br /> South Bend's Industrial Revolving Fund continued to drive growth by providing low-interest loans to South Bend <br /> businesses. In 2018, IRF made two new loans representing$1.5 million in outstanding funds.These two projects <br /> will create at least 35 full-time permanent jobs in South Bend.Since the fund's inception in 1975, it has successfully <br /> grown from the original $5 million to almost$7 million and made 158 loans total, representing nearly$46 million <br /> in IRF loan funds and leveraging nearly$130 million in private investment. <br /> It is now over 40 years since the original grant was awarded and we have met or exceeded the objectives of the <br /> original grant.We have demonstrated our ability to operate this fund in a fiscally and economically responsible <br /> manner.As a result, in 2018,the IRF was rated with a highest rating'A' by our regulator, Economic Development <br /> and Administration (EDA). <br /> PROJECTS <br /> Openings. Hibberd Building, Courtyard by Marriot, Embassy Suites,West Side Small Business Resource Center, <br /> CTDI, Holliday Inn Express <br /> Underway. Eddy Street Phase II, Ivy at Berlin Place, Studebaker Building 84, Commerce Center,Three Twenty at <br /> the Cascade,Aloft/Liberty Tower Phase II,Western Ave Dairy Queen, Menards South Side, River Walk Homes,JC <br /> Lauber,The Garage <br /> Announced. Franklin Street Technology Buildings,Jefferson & Main office building, Washington-Colfax Gemini <br /> Apartments,Technology Resource Center, Library Community Education Center <br /> 3 <br />