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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – August 14, 2025 <br /> <br />4 <br /> <br />• The city plans to provide $500,000 per year for five years to help <br />cover operating costs. This funding comes from the annual budget <br />approved by the sub-income council. <br />• While the operating agreement isn’t finalized yet, a summary of its <br />terms is included in the development agreement for reference. <br /> <br />Financial Commitments: <br />• The New Day team will invest at least $10 million privately. <br />• The Redevelopment Commission will contribute $4 million through <br />a forgivable loan using tax increment financing (TIF) funds. <br /> <br />This loan will work like a regular loan with interest. Once the project is <br />completed and meets its goals, the loan can be forgiven, effectively <br />turning it into a grant. <br /> <br />The timeline for the New Day Intake Center must be: <br /> <br />• Completed within 36 months after construction begins. <br />• Fully open and ready to receive guests by December 31, 2027. <br /> <br />The loan agreement with the City is expected to be finalized before <br />January 1, 2026, assuming all necessary approvals are received from <br />other decision-making bodies. These approvals are still pending, so <br />this timeline could change. Once the project is substantially complete, <br />the New Day Intake Center team will be required to: <br /> <br />• Submit an annual report to the Commission for 10 years, showing <br />that they are following all required codes and post-completion <br />standards. <br />• These reporting requirements are included as an exhibit in the <br />development agreement. <br /> <br />There will also be separate reporting requirements tied to the operating <br />agreement, which will be finalized closer to the time the facility opens. <br /> <br />The New Day Intake Center must: <br />• Run the low-barrier emergency shelter year-round. <br />• Be accessible to everyone, regardless of sobriety, income, ID <br />status, or whether they participate in services. <br />• Create individual housing plans to help guests move into <br />permanent housing as quickly as possible. <br />• However, due to limited housing options, some guests may need <br />to stay longer until suitable housing becomes available. <br />• Work closely with community partners to provide on-site support <br />services, including: <br />• Physical and mental health care