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South Bend Redevelopment Commission
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<br />C. 2025 Expenses
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<br />The table below summarizes total expenditures in 2025 for each TIF district with a net decrease
<br />of approximately $22.68 million (down 37.4%) in comparison to 2024. Infrastructure
<br />improvements (e.g., sewers, streets, etc.) accounted for $4.35 million, while public and private
<br />building improvements had total expenditures exceeding $7.07 million. Debt service accounted
<br />for $12.71 million (see Section D). Expenditures in 2025 also included $2.11 million in
<br />demolition and clearance services and $951,600 for legal and other professional service costs.
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<br />Projects supported by TIF projects include the Martin Luther King Jr. Dream Center ($1.02
<br />million), City Hall ($735,000), Seitz Park ($849,000), 466 Works affordable housing project
<br />($1.28 million), and Intend Indiana in-fill housing project ($1.25 million).
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<br />TIF District FY25 Actuals FY24 Actuals
<br />YoY
<br />Change
<br />River West TIF District $ 21,874,783 $ 39,245,605 -44.3%
<br />West Washington TIF District 174,380 1,208,357 -85.6%
<br />River East 1 (Northeast) TIF District 7,622,273 5,176,736 47.2%
<br />Southside TIF District #1 3,010,998 8,034,036 -62.5%
<br />Douglas Road TIF District 348,434 0
<br />River East 2 (Northeast Residential) TIF District 4,945,322 6,992,824 -29.3%
<br />Total Expenditure $ 37,976,190 $ 60,657,558 -37.4%
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<br />D. Debt Service
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<br />TIF District FY25 Debt Service Payments FY24 Debt Service Payments
<br />River West TIF District $ 6,972,444 $ 8,195,425
<br />River East 1 (Northeast) TIF District 1,194,930 784,200
<br />River East 2 (Northeast Residential)
<br />TIF District 4,546,017 4,554,889
<br />Total Debt Service $ 12,713,391 $ 13,534,514
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<br />E. Year-End Fund Balance
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<br />TIF District FY25 Actuals FY24 Actuals YoY Change
<br />River West TIF District $ 36,524,968 $ 28,107,758 29.9%
<br />West Washington TIF District 1,755,986 1,346,604 30.4%
<br />River East 1 (Northeast) TIF District 22,251,787 21,696,392 2.6%
<br />Southside TIF District #1 9,401,229 8,620,393 9.1%
<br />Douglas Road TIF District 951,912 980,537 -2.9%
<br />River East 2 (Northeast Residential) TIF District 12,976,450 10,131,628 28.1%
<br />Total Fund Year-End Balances $ 83,862,332 $ 70,883,312 18.3%
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<br />_______________________________________ ____________________
<br />Kyle Willis, Controller Date
<br />3.24.26
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