5165-26 Resolution Approving and Adopting the Downtown 2045 Plan

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Implementation Strategies From the beginning of the process,the City of South Bend Private Funding Sources Example Funding Stack fora Public Project approached the Downtown South Bend 2045 plan through Private funding sources typically fund the majority of private Philanthropic Funding for Gaps_.> the lens of im lementabiGt .This informed the selection not covered by other sources P Y development(for-profit buildings and uses on privately owned criteria for the interventions.the vetting and development of land).Private funding sources typically include: Leveraged Private lnvestment-9 action steps.and the intentional involvement of partners early •in the process.The plan is based in market projections of Conventional bank debt Local match and/or tar-3 >Project Cost what is realistic and achievable in the 20-year timeframe.The • Subordinated debt implementation strategy laid out in this chapter addresses lead •responsibilities and roles.partnerships.and timeframes. Private capital and equity State&Federal grants&bonds Philanthropic Funding Sources _ Philanthropic grants should act primarily as the gap equity w FUNDING SOURCES for both public and private projects.The intent is to ensure Example Funding Stack far a Privet Project o Public Funding Sources that grants from donors and foundations are leveraging the PnilantMopk Gams - in Public funding sources form the base of the capital stack maximum public and private sources first.Grant requirements Public lncentives—> z for projects with public benefit.Public funding sources are will be defined to ensure the desired impact. Owner/Developer EgpbY� 71 0 appropriate for projects such as: Total e Project . • Creation of public gathering space and parks How will projects be implemented? Subordinated Uebt—� >Cast ce • Public-private partnerships(PPPs) • Street transformations and public right-of-way projects Conventional sank Debt—) • Publicly-funded and publicly-led projects within rights-of- • Improvements to walking and bicycling networks way and on publicly-owned land • Utility improvements • Incentives and improved economic environment for private investment • Green infrastructure and drainage improvements Example Funding Stack for a Non-ProM Project • Ordinance and policy updates _ • Public-use buildings(community centers,museums, Public su Philanthrope Grants—� • pport for taxes and mileages schools,libraries,government facilities.etc.) Ppbek In entives • Rezoning and entitlement of strategic parcels Taal • Financial incentives for private development projects that >Project • Leveraging state and philanthropic grants Cost are not yet market feasible(such as low-or no-interest Non-Prone Capital •financing,bonds,gg-year land leases on public land.tax Incremental improvements to quality-of-life Fundratstng campaigns credits,small grants,etc.) 1 ,.Pl'Owt4. '.,,TH BEN I-,r,4=PL-N 13ol,1tt G E :: iMac w_,:,:Hd_:.: