HomeMy WebLinkAbout5A1 Budget Request (CDFI)Redevelopment Commission Agenda Item
DATE:
FROM:
SUBJECT:
01/14/2021
Brian Donoghue
CDFI Friend Budget Request
Funding Source* (circle one) River West; River East; South Side; Douglas Road; West Washington; RDC General
*Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller,
then the authorization of the expenditure of such funds shall be void and of no effect.
Purpose of Request:
Community Development Financing Institutions (CDFIs) are organizations that expand economic
opportunity in low-income communities by providing access to financial products and services for
local residents and businesses. CDFI Friendly South Bend acts as a liaison between CDFIs and the
local community. CDFI Friendly South Bend's purpose is to strengthen the community and improve
the economic conditions of its lower income residents by assisting CDFIs and other organizations to
provide low-cost, accessible, flexible, affordable financing for housing, job development, charitable
and educational services and other community projects.
Funding request is for $270k for professional services for CDFI Friendly America to provide support
services for CDFI Friendly South Bend and ongoing regional economic recovery efforts
INTERNAL USE ONLY: Project ID: PROJ ;
Total Amount – New Project Budget Appropriation $_______________;
Total Amount – Existing Project Budget Change (increase or decrease) $_______________;
Funding Limits: Engineering: $_____________________; Other Prof Serv Amt $_______________;
Acquisition of Land/Bldg (circle one) Amt: $___________; Street Const Amt $________________;
Building Imp Amt $_________; Sewers Amt $_________; Other (specify) Amt $ ________________
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION