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REGULAR MEETING July 22, 2024 <br /> Caleb Bauer answered that they are found through negotiantions with the orgnanziation receiving <br /> the loan. <br /> Councilmember Lee asked what the income would be to qualify for one of these homes at 80% <br /> below Area Median Income(AMI). <br /> Caleb Bauer answered that in a single income home would forty-eight thousand dollars ($48,000) <br /> a year for single family home. <br /> Councilmember Lee held the public hearing. <br /> Don Foster, 132 Chapin Street, South Bend IN 46601 stated that this project should use masonry <br /> for these homes. <br /> Councilmember Tomas Morgan thanked the developers for their work. Councilmember Tomas <br /> Morgan stated that it is very important for the City to have mixed income communities. <br /> Councilmember Dr. Davis motioned to send Substitute Bill No. 33-24 to the Full Council with a <br /> favorable recommendation,which was seconded by Councilmember Warner and carried by a vote <br /> of eight (8) ayes with one (1) Councilmember absent. <br /> Council President Sharon McBride—Absent Council Vice President Sheila Niezgodski—Aye <br /> Councilmember Canneth Lee—Aye Councilmember Ophelia Gooden-Rodgers—Aye <br /> Councilmember Troy Warner—Aye Councilmember Sherry Bolden-Simpson—Aye <br /> Councilmember Dr. Oliver Davis—Aye Councilmember Karen L. White—Aye <br /> Councilmember Rachel Tomas Morgan—Aye <br /> 34-24 PUBLIC HEARING ON AN ORDINANCE OF <br /> THE COMMON COUNCIL OF THE CITY OF <br /> SOUTH BEND, INDIANA, AUTHORIZING A <br /> DIRECT LOAN TO THE DEVELOPER OF AN <br /> ECONOMIC DEVELOPMENT FACILITY <br /> (SOUTHEAST NEIGHBORHOOD PROJECT) <br /> AND APPROVING OTHER MATTERS IN <br /> CONNECTION THEREWITH (SUBSTITUTE) <br /> Councilmember White motioned to accept the Substitute Bill No. 34-24,seconded by Council Vice <br /> President Niezgodski and carried by a vote of eight (8) ayes and one(1) Councilmember absent. <br /> Council President Sharon McBride—Absent Council Vice President Sheila Niezgodski—Aye <br /> Councilmember Canneth Lee—Aye Councilmember Ophelia Gooden-Rodgers—Aye <br /> Councilmember Troy Warner—Aye Councilmember Sherry Bolden-Simpson—Aye <br /> Councilmember Dr. Oliver Davis—Aye Councilmember Karen L. White—Aye <br /> Councilmember Rachel Tomas Morgan—Aye <br /> Clerk Tirado read the bill to the Council for its second (2nd) reading. <br /> After the second (2nd)reading, Councilmember Lee requested the committee report. <br /> Councilmember Warner stated that Bill No. 34-24 went before the Community Investment <br /> Committee and comes with a favorable recommendation. <br /> Councilmember Lee requested that the petitioner(s) state their name and address and share key <br /> points before the council. <br /> Caleb Bauer Executive Director of Community Development with offices on the 141h floor of the <br /> County-City Building spoke regarding Subsitute Bill No. 34-24. This plan would allow for thirty <br /> (30) homes to be built in the Lincoln Park Neighborhood.All of these homes are going to be built <br /> on vacant lots.The homes will be built by a local CDC named 466 Works. The loan from the City <br /> would be three and a half million dollars($3,500,000)over three(3) years paired with five million <br /> and two hundred thousand dollars ($5,200,000) of private investment. <br /> 5 <br />