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0 CITY OF SOUTH BEND I OFFICE OF THE CLERK
<br /> is a net reduction in the TIF areas overall. This realignment will allow DCI to now invest in
<br /> corridors like Miami, Mishawaka Avenue, Portage, and Elwood. Another key accomplishment
<br /> was the initiation of NNN planning process. This created a neighborhood plan that our team is
<br /> working on,but we had a number of public engagement meetings and invited neighbors to start to
<br /> envision what the NNN neighborhood might look like. So, this process, again, is underway, but
<br /> the meetings have been completed. The stabilization of the Lafayette Building, again, this is an
<br /> historic asset in the downtown. In earnest,the conversations regarding the property began a couple
<br /> of years ago. Some work was done last year. Then this year, it's been mostly work on the exterior
<br /> of the building with brick work and tuckpointing. And then work on the skylight of the building
<br /> will, I believe, occur in the next couple of weeks. So, that'll help stabilize the building, making it
<br /> ready for future development and future investment.
<br /> He continued, Our team's also been actively working with the Neighborhood Resources
<br /> Connection,the NRC.They have a new director and our team is working closely on their programs,
<br /> including the Youth Council, working on the Neighbors Council Conference, and then some
<br /> summer series.The other initiative is CDFI.This is Community Development Finance Institutions.
<br /> Our team is working to identify opportunities in distressed, low-income areas for individuals to
<br /> take advantage of micro loans. So, a kickoff or forum occurred in June, and that was the first(1st)
<br /> phase of this initiative. Now, we expect to get into more details about identifying what kinds of
<br /> opportunities our residents can take advantage of. Opportunity Zones,this is another key initiative
<br /> for the City. This allows investment in certain parts of the City.The City has certain Census Tracts
<br /> now identified as opportunity zones. Those include certain areas southwest of downtown, the
<br /> downtown, and then northeast part of the City. So, it's an opportunity for investors to take some
<br /> certain tax incentives in those areas by investing their capital gains. The other program I want to
<br /> talk about is the Pathways Program.This is a workforce development program that our team's been
<br /> actively working on. It allows individuals in our community who are looking to gain employment,
<br /> or to further their education to gain better employment to take advantage of workforce
<br /> opportunities and training, such as in the trucking industry, CDLs, working in the hospitality
<br /> industry, or nursing. So, we have several individuals who've taken advantage of that program
<br /> already, about one hundred and sixty-five (165) so far, and we expect more in the third (3d) and
<br /> fourth (4th) quarters. Some landmark development projects that have occurred in our community
<br /> are the Cascades Project. You can see the construction underway. That's been one of the first(1st)
<br /> high-end condominium projects in the downtown. That's on a site that sat vacant for several years.
<br /> Construction is also underway on the City's first (1st) Class-A office space on the corner of Main
<br /> and Jefferson built in the downtown in decades.Again,that's a major investment in the downtown.
<br /> Then we have some spec buildings underway on the City's northwest side, and that's the growing
<br /> Ameritech area where we're seeing investment in distribution. So, that's two (2) more buildings
<br /> going up there. We've seen about $76 million in private investment in the City so far, and we
<br /> expect more by the end of the year. That equates to about one hundred and twenty(120)new jobs.
<br /> He went on, In terms of some of our goals,owner-occupied rehabs,we expect in the third(3'')and
<br /> fourth (4th) quarters, about thirty-eight (38) more of those to occur. We have a zoning reformat
<br /> underway. That's expected to come to the Council really in the next couple of months, but we
<br /> expect it to be done by the end of the year. We have a few streetscape projects identified that we'd
<br /> like to initiate in the third (3'd) quarter. And a land value analysis, some of you may have
<br /> participated in the Urban3 Land Value Analysis. That is where we look at the value of land per
<br /> acre. A retouch of that analysis will occur. Then in private investment,here (referencing a slide in
<br /> the presentation) are some of our investment numbers. We expect another $24 million in private
<br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT
<br /> 455 County-City Building 1227 W.Jefferson Bvld South Bend,Indiana 46601 i P 574.235.9221 I f 574.235.9173;I I1)574.235.5567I eNw.southbendin.gov
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