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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING –January 9, 2025 <br /> <br />8 <br /> <br />progress and Ms. Schaefer stated that we are on pace and there has <br />been discussion regarding design however, they are easy to work with <br />and we are engaging local partners such as the South Bend Heritage <br />Foundation and Habitat for Humanity as well. <br /> <br />Upon a motion by Eli Wax for approval, seconded by David Relos, the <br />motion carried unanimously; the Commission approved the Fund <br />Appropriation as presented on January 9, 2025. <br /> <br />B. South Side Development Area <br /> <br />1. 2025 Fund Appropriation (466 Works Loan) <br /> <br />Sarah Schaefer, Deputy Director of Community Investment, presented <br />this Fund Appropriation for $1,160,000 million for the second year of <br />the EDC statute forgivable loan to 466 Works to build new housing on <br />the South side. The request is for 30 new construction, single family <br />homes with an expected completion date of December 2027. Ms. <br />Schaefer explained that this is the same forgivable loan approved last <br />June under a $9 million project with $3.5 million from TIF. The <br />difference is rather than a maximum per year appropriation, it's a <br />maximum subsidy of $116,000 per house and expect to build 10 new <br />homes in 2025 with the same draw process as Lincoln Park. <br />Commissioner Wax asked about how to get to the $116 per house and <br />Ms. Schaefer stated that the maximum is $116 per house. <br />Commissioner Shaw asked if 10 was the maximum build and Ms. <br />Shaefer confirmed that we would just prefer to do one appropriation <br />per year. Tina Patton is in favor of the project. <br /> <br />Upon a motion by Troy Warner for approval, seconded by Eli Wax, the <br />motion carried unanimously; the Commission approved the Fund <br />Appropriation as presented on January 9, 2025. <br /> <br />7. Progress Reports <br /> <br />A. Tax Abatement <br /> <br />B. Common Council <br /> <br />C. Updates <br /> <br />Joseph Molnar, Assistant Director of Growth and Opportunity, stated that <br />the City met with the childcare center at 415 E. Madison (Oaklawn) and <br />had a productive conversation about whether they wanted to stay in the <br />building, and we will proceed with due diligence and work with them. <br />