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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – February 13, 2025 <br /> <br />3 <br /> <br />$370,000, and a single-family home in the amount of $130,000. Ms. <br />Schaefer stated that the goals are to revitalize the urban <br />neighborhoods, help stabilize the market and attract new developers to <br />these neighborhoods. She explained that, the construction bids came <br />in higher than expected and the total cost is estimated at $1.14 million <br />which leaves a funding gap of $65,000. <br /> <br />Ms. Kathy Schuth is the Executive Director of the NNN at a non-profit <br />community development corporation on the near northwest side of <br />South Bend with a mission to revitalize and stabilize their <br />neighborhood. Ms. Schuth has been working directly with contractors <br />and trying to recruit them since this has been out for bids three (3) <br />times. She explained that the duplex is under construction. However, <br />the single-family home funds are lagging, and funds have been added <br />from the Federal Home Loan Bank of Indianapolis but still looking for <br />ways to fill the gap. Commissioner Wax asked if the $65,000 will fund <br />the entire project and Ms. Schuth stated yes. Vice President Relos <br />asked if they plan to sell the home and Ms. Schuth stated that they will <br />maintain and manage the property as three (3) rental units. President <br />Warner stated that our portion would be approximately 5%. Matt <br />Barrett asked about the selling price and Ms. Schuth explained the <br />$426,000 includes both hard and soft costs for the development cost of <br />all acquisitions, but the home will sell to the family at a market rate and <br />right now on that block in that neighborhood is roughly $180,000. <br /> <br />Upon a motion by David Relos for approval, seconded by Troy Warner, <br />the motion carried unanimously; the Commission approved the Budget <br />Request as presented on February 13, 2025. <br /> <br />B. River East Development Area <br /> <br />1. Budget Request (Mishawaka Streetscape Design) <br /> <br />Leslie Biek, Assistant City Engineer, presented a budget request for <br />$500,000 of additional funds for construction of a streetscape project <br />from Longfellow/Byres to Emerson which includes lanes reductions, <br />separated shared-use path on the South side of street, water main <br />replacement, storm sewer installation, streetscape elements such as <br />lighting, benches, bike hitches and trees. Tim Corcoran, Chief Planner <br />for Community Investment, stated that after speaking with residents in <br />the community this intersection is busy with pedestrian traffic and <br />needs safety elements put in place. <br /> <br />Vice President Relos asked about the medians and the left turn lanes <br />and Mr. Corcoran explained that the medians will be installed to take <br />up the lane space and the left turns will still be accessible.