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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – January 8, 2026 <br /> <br />Page | 3 <br /> <br />agreement, approved by both the Redevelopment Commission and the <br />Common Council, provides forgivable loans for projects. Each year, the <br />Redevelopment Commission must approve funding for these projects. <br /> <br />Current Item <br />Today’s request is for the Lincoln Park affordable housing project, led by <br />Intend Indiana. This project focuses on revitalizing the Lincoln Park <br />neighborhood, one of South Bend’s oldest areas, which has lost over 70% <br />of its population since 1960. Vacant lots dominate the neighborhood, <br />impacting businesses, schools, city budgets, and community life. <br /> <br />Project Details <br />• Intend Indiana will build 92 new single-family homes on vacant lots. <br />• Over half of the lots are provided by the city; the rest are privately <br />acquired. <br />• It’s a mixed-income development: <br />o 40 homes for households earning <80% of area median <br />income <br />o 17 homes for households earning 80–120% (workforce <br />housing) <br />o Remaining homes at market rate <br />• Total project cost: $25M <br />o $5M from forgivable loans <br />o $20M private investment <br />• Agreement approved July 2024; completion expected by end of <br />2029. <br /> <br />Budget Request <br />• 2026 appropriation: $1.25M (1/5 of total subsidy) <br />• Annual appropriations capped at $1.25M, contingent on developer <br />progress. <br />• Funds are released only after Intend submits an annual action plan <br />confirming financing and construction plans. <br /> <br />Progress to Date <br />• 18 months in: <br />o 7 homes completed <br />o 13 under construction <br />• Homes use city-approved designs to fit neighborhood character. <br />• New sidewalks included with construction. <br /> <br />President Warner asked if this will be the third draw and Mr. Molnar <br />stated yes, the first was in 2024, 2025 and now 2026. Commissioner <br />Gooden-Rodgers asked if the unfinished area next to the last home will <br />have landscaping for a driveway prior to completion. Mr. Molnar stated