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CITY OF SOUTH BEND REDEVELOPMENT COMMISSION REGULAR MEETING – March 26, 2026 <br /> <br />Page | 11 <br /> <br />continues to reinvest TIF funds consistent with their intended purpose <br />of supporting redevelopment and neighborhoods. <br /> <br />President Warner asked, in addition to our current cash on hand, we also <br />have funds committed to projects that have not yet started or are <br />scheduled several years out, such as the Monroe project. What is the <br />total amount currently committed to those future projects? Mr. Glavich <br />responded that he reviewed encumbered funds as of January 1, noting <br />that approximately $56.5 million was committed to existing projects, <br />representing about 67% of the $83.86 million fund balance. These <br />commitments include long-term, multi-year projects such as The <br />Monreaux and the GLC project. Staff emphasized that the Commission <br />maintains a healthy fund balance and continues to responsibly reinvest <br />TIF funds in residential and neighborhood redevelopment. President <br />Warner requested a breakdown of encumbered funds by TIF district for <br />future reference and potential inclusion in reporting. <br /> <br />Upon a motion by Eli Wax to accept, seconded by Gillian Shaw, the <br />motion carried unanimously; the Commission accepted the 2025 Fiscal <br />Report as presented on March 26, 2026. <br /> <br />6. Progress Reports <br />A. Tax Abatement <br />None <br /> <br />B. Common Council <br />None <br /> <br />C. Other <br />Joseph Molnar, Deputy Director of Community Investment, gave updates <br />on the following. <br />• Former Elwood Shopping Center, demolition has started. <br />• READI Blight Grant Application was submitted for the former YMCA. <br />• Qualex Building Demolition, bids were approved and will begin soon. <br />• Diamond View Project started leasing space 1/3 filled. <br />• Stoic Beverages Project, utilities hooked up and in plan review stage. <br /> <br />President Warner spoke of the positive improvements to the Four Winds <br />Field project. <br /> <br />7. Next Commission Meeting <br />Thursday, April 9, 2026, 9:30 a.m., City Hall Council Chambers 3rd Floor <br /> <br />