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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING –June 12, 2025 <br /> <br />8 <br /> <br />2. Budget Request (Advantix Development Corp.) <br /> <br />Joseph Molnar, Assistant Director of Growth and Opportunity, <br />presented a budget request for $250,000 to support the Advantix <br />Development Project. On July 11, 2023, the Board of Public Works <br />approved a Purchase Agreement with Advantix Development <br />Corporation for the sale of 35 City-owned parcels. Two days later, on <br />July 13, 2023, the Redevelopment Commission approved a separate <br />Purchase Agreement with Advantix for an additional 8 parcels. These <br />approvals supported Advantix’s application for Low-Income Housing <br />Tax Credits (LIHTC) through the State of Indiana. <br /> <br />In November 2023, Advantix was awarded the LIHTC credits, enabling <br />the project to move forward. The development will consist of 50 <br />affordable housing units scattered across northwest and westside <br />neighborhoods in South Bend split between 30%, 50%, and 80% AMI. <br />The homes will follow a lease-to-own model, with a total construction <br />investment exceeding $14 million. Advantix has collaborated with the <br />City’s planning staff to ensure the homes reflect the character of the <br />surrounding neighborhoods. To that end, the developer is utilizing the <br />City of South Bend’s Pre-Approved Housing Plans. <br /> <br />A funding request of $250,000 is proposed to support Advantix in <br />maintaining high construction quality for the housing units. <br />Construction is expected to begin later this summer. This project will <br />activate long-vacant properties, deliver quality affordable housing, and <br />bring substantial investment to South Bend’s near west and westside <br />communities. <br /> <br />Brandon Shields, with Advantix Corp. explained that this has been a <br />two-year journey and with the rising cost and especially the investor <br />uncertainty because of the tariffs, this request will assist in keeping in <br />line with the City’s exact plans. Secretary Wax asked if there is a <br />blueprint for the funds and Mr. Molnar explained the funds will go to the <br />construction of the houses and will have a donation agreement in the <br />future. <br /> <br />Upon a motion by David Relos for approval, seconded by Gillian Shaw, <br />the motion carried unanimously; the Commission approved the Budget <br />Request as presented on June 12, 2025. <br /> <br />D. Administrative <br /> <br />1. Resolution No. 3642 (Determining Tax Increment to be Collected in <br />Year 2026) <br />