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:f. South Bend <br />Redevelopment Commission <br />Y 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br />Redevelopment Commission Agenda Item <br />DATE: 2/11/2025 <br />FROM: Sarah Schaefer, Deputy Director, Community <br />Investment <br />SUBJECT- Budget request for South Bend Financial <br />Empowerment Center office <br />Funding Source* (circie) River West; River East; South Side; Douglas Roa <br />ATTEST: <br />Pres/V-Pres <br />Secretary <br />Date: 13' d a 5 <br />LJ`" APPROVED ❑ Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION <br />* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as <br />authorization of the expenditure of such funds shall be void and of no effect. <br />) RDC General; Riv. East Res. <br />by the City Controller, then the <br />PURPOSE OF REQUE5T- Budget request of $40,000 from West Washington Development Area to fund the <br />Financial Empowerment Center office at the MLK Dream Center. <br />SPECIFICS: This budget request is for $40,000 to build -out the space for the South Bend Financial Empowerment <br />Center (SBFEC) at the new MLK Dream Center, including infrastructure and office furniture. The office will have <br />desks for three employees and a private room for FEC counseling sessions. The FEC is expected to open in April <br />2025 at the MILK Dream Center and expects to hold approximately 960 counseling sessions in its first year. <br />Counseling sessions are free and available to any South Bend resident. SBFEC counselors will help individuals <br />manage their finances, pay down debt, increase savings, establish and build credit, and access safe and <br />affordable mainstream banking products. <br />EXCELLENCE ACCOUNTABILITY INNOVATION I INCLUSION EMPOWERMENT <br />1400S County -City Building 227 W. Jefferson Bvld. South Bend, Indiana 46601 p 574.235.9371 �wnvw southbendin.gov <br />