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South Bend Redevelopment Commission <br />Regular Meeting - February 7, 1997 <br />7. PROGRESS REPORTS (CONT.) <br />to change directions to become a CDC or <br />Community Development Corporation. <br />These CDC's actually do development <br />projects that the private sector cannot or will <br />not do. Examples are the CCA Building, <br />Senor Kelly's and the 500 block of South <br />Michigan. The CDC's advantage is, as a not <br />for profit, it can get nontraditional sources of <br />funding. To work, it must stay focused on <br />development and not try to do everything <br />else. It will need a close relationship with the <br />Dept. of Redevelopment and the BDC. The <br />CDC could be either independent or apart of <br />a related organization such as South Bend <br />Heritage Foundation. <br />In any form, the independence of CCA is <br />important to downtown's future but it can not <br />survive on membership and fundraising. It <br />will need institutional support or the ability <br />to generate more outside income. <br />I truly believe that the partnership of CCA, <br />Redevelopment and the private sector has <br />made and can make our downtown a model <br />for the rest of Indiana and the nation. <br />For all that we have accomplished together, I <br />thank you. <br />Mr. Hunt stated that Carter Wolf has been a <br />representative of the best things for South <br />Bend and the downtown community; and he <br />wished him well in his new endeavors. <br />H:\ HOME \CPHWPS \WPDATA \COMMSN\020797.MIN -18- <br />