Annual Spending Plan for 2025 - Laserfiche WebLink

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South Bend Redevelopment Commission D. Capital Expenditures Contemplated by the Economic Development Plan(s) or Redevelopment Plan(s), as amended Commission-controlled funds can be used as capital expenditure allocations in support of economic development and/or redevelopment. These types of projects include (1) transportation enhancement projects (e.g., curbs, gutters, shoulders, street paving, street construction, bridge improvements, sidewalk improvements, pathway improvements, street lighting, traffic signals, signage, parking lot improvements, site improvements, landscape buffers, and demolition costs); (2) utility infrastructure projects such as utility relocation, water lines, water wells, water towers, lift stations, wastewater lines, storm water lines, retention ponds, ditches, and storm water basin improvements; (3) public park improvements; (4) recreational improvements and equipment; and (5) projects to enhance cultural attractiveness. Capital expenditures can also include the use of funds for real property acquisition and improvements, as well as for equipment and personal property acquisitions and installation. Permissible incentives provided through a development agreement or real estate purchase agreement that support a development or a redevelopment project are also considered capital expenditures. As of the date of this report, the Redevelopment Commission anticipates the following capital expenditures in 2025: • Real property acquisition and improvements: $19,684,463 • Infrastructure improvements including, but not limited to, transportation enhancement projects, utility infrastructure projects, and public park improvements: $7,342,226 The Redevelopment Commission would consider additional capital expenditures in 2025 as part of its annual spending plan if the need for such an expenditure materializes that would further the goals of the Redevelopment Commission. E. Expenditures from the Redevelopment General Fund (a.k.a. Pokagon Fund) Expenditures by the Redevelopment Commission from the Redevelopment General Fund are to be used in support of initiatives broadly aimed at contributing to the improvement of educational opportunities in the City of South Bend and addressing poverty and unemployment in the City. As of the date of this report, the estimated sum of expenditures in 2025 from the Redevelopment General Fund not discussed elsewhere in this report will be up to $4,230,000. The Redevelopment Commission would consider additional expenditures from the Redevelopment General Fund in 2025 that contribute to the improvement of educational opportunities in the City of South Bend or address poverty and unemployment in the City as part of its annual spending plan if the need for such additional expenditures materializes that would further the goals of the Redevelopment Commission. 3