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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – November 24, 2025 <br /> <br />Page | 14 <br /> <br />improvements—for example, if a development agreement includes <br />construction work on a building, those costs fall under this category. <br />Infrastructure work, such as roads or utilities, is shown separately in the <br />light blue category. All construction will still be bid through the Board of <br />Public Works. Also, the Professional Expenses category shows about $9 <br />million, most of that is demolition work, not professional services. For <br />example, all the demolitions funded by TIF last year are included here. <br />It does cover professional services too, but the bulk of the spending in <br />this category is demolition, not consulting or design fees. <br /> <br />Commissioner Shaw asked for clarification that the plan shows spending <br />about $2 million more than expected revenues, which means we’ll use <br />cash reserves. Mr. Bauer stated that this is intentional. However, most <br />appropriations aren’t fully spent in one calendar year. For example, if we <br />allocate funds for an infrastructure project, the money is appropriated <br />now but spent over time. Also, our revenue estimates are conservative. <br />For 2026, we project $42.8 million, but based on 2024 trends, actual <br />revenues may be higher. We’ll confirm after the December 2025 <br />distribution and report back on how estimates compare to actuals. <br /> <br />Both Commissioner Shaw and Wax requested a summary that shows <br />expenditures from state and federal grants. It would be helpful to <br />highlight how the city and RDC leverage these funds to increase overall <br />investment. <br /> <br />For example: <br />• Show bullet points of projects where RDC dollars attracted <br />additional funding. <br />• Include an estimate of the leverage ratios such as, for every $1 <br />invested by the city or RDC, about $0.20 comes from other sources <br />(based on rough calculations). <br />This kind of summary would clearly demonstrate the impact of <br />combining RDC funds with grants and private investment. It could also <br />include a total figure showing how $40 million of RDC funds helped <br />generate much larger overall investment. <br /> <br />Matt Barrett asked for clarification about the revenues that were $55M <br />in 2024, but projections show $41M for 2025 and $42M for 2026. Is <br />that correct? Also, could we get a breakout by district? Mr. Glavich <br />stated that. <br />• Yes, those are the current estimates. The drop from 2024 to 2025 is <br />based on our formula using June disbursements (assumed to be 55% <br />of annual revenue).