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South Bend Redevelopment Commission <br />Regular Meeting -March 28, 2008 <br />7. PROGRESS REPORTS (CONT.) <br />known. He noted the facade grant program encourages <br />private investment, and the investment that is made <br />compliments the public improvements made along that <br />corridor. Additionally, the River Park Business <br />Association has become more savvy in trying to <br />encourage those improvements that accentuate the <br />public/private partnership nature of the corridor <br />program. During the seven years the program has been <br />in existence, over $500,000 of investment (public and <br />private) has been made. <br />Mr. Dressel noted that 2008 will be the first year the <br />facade program has operated on the Main/Nlichigan <br />corridor, so there is no experience there. <br />Mr. King thanked Mr. Dressel and Mr. Divita for their <br />reports. However, what he really hoped for was their <br />appraisal of the outcomes: does the program do more <br />than just put a new facade on a building? Does it <br />stimulate additional private investment in the area? <br />Does it make people feel better about their <br />neighborhood.? Ms. Meyer promised to pull <br />information related to that together and report back to <br />the Commission. <br />Mr. Peczkowski commented that he is not a fan of the <br />Facade Grant Program. As a small business owner <br />himself, he believes a business owner experiences the <br />pride of ownership when they put their own funds into <br />improvements. He agreed it is hard to get a bank to loan <br />a business money for facade improvements. Pride of <br />ownership comes when he is able to do it himself. He <br />believes asking the public to share in that expense <br />cheapens the whole experience. <br />30 <br />