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<br />South Bend
<br />Redevelopment Commission
<br />215 S. Dr. Martin Luther King, Jr. Blvd., Room 301, South Bend, Indiana
<br />
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<br /> TO: South Bend Redevelopment Commission
<br />
<br />FROM: Kyle Willis, Controller, City of South Bend
<br />
<br />DATE: March 24, 2026
<br />
<br />RE: Annual Fiscal Report (IC 36-7-14-8)
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<br />2025 Fiscal Report
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<br />A. Overview
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<br />Under Indiana Code (IC) 36-7-14-8(b), the treasurer1 of the South Bend Redevelopment
<br />Commission (the “Commission”) must submit an annual report to the Commission. This report
<br />provides an overview of the Tax Increment Financing (TIF) activity for fiscal year 2025, including
<br />revenues and expenses, as well as 2026 anticipated property tax increment revenues for each
<br />allocation area.
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<br />B. 2025 Revenue
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<br />For all allocation areas (TIF districts), incremental property tax revenue decreased $601,305
<br />(down 1.5%) in 2025 compared to 2024. Despite the decrease in revenues from 2024, the
<br />combined incremental property tax revenue for all TIF districts in 2025 was 9.9% higher than
<br />revenue in 2023 ($36.72 million). The table also provides projected 2026 revenues, which is
<br />estimated to be a 2% increase over 2025 revenues.
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<br />TIF District FY26 Projected FY25 Actuals FY24 Actuals YoY
<br />Change
<br />River West TIF District $ 20,815,353 $ 20,605,180 $ 20,520,362 0.4%
<br />West Washington TIF District 526,593 521,276 610,117 -14.6%
<br />River East 1 (Northeast) TIF
<br />District 8,208,637 8,125,754 8,221,833 -1.2%
<br />Southside TIF District #1 3,476,691 3,441,587 3,445,271 -0.1%
<br />Douglas Road TIF District 281,544 278,701 346,093 -19.5%
<br />River East 2 (Northeast
<br />Residential) TIF District 7,443,645 7,368,486 7,798,613 -5.5%
<br />Total Property Tax Revenue $ 40,752,462 $ 40,340,984 $ 40,942,289 -1.5%
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<br />1 Per IC 36-7-14-8(b), the “treasurer” of the Commission is defined as the “fiscal officer of the unit establishing a
<br />redevelopment commission.” The Controller is the “fiscal officer” for the City of South Bend.
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