HomeMy WebLinkAbout6A2 Budget Request (Invanti)
Redevelopment Commission Agenda Item
DATE: April 8, 2021
FROM: Santiago Garces
SUBJECT: Budget Request (Invanti LLC)
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: Funding for Professional Services agreement with Invanti LLC
Specifics: We are requesting $250 thousand from the Pokagon Fund for a programmatic
engagement with Invanti LLC to support the city’s innovation and inclusive economic
development practices over the next two years.
As part of this engagement, Invanti will provide consulting services based on human centered
design and innovation practices to address complex social issues that are prioritized by the City
of South Bend including but not limited to: affordable housing, education, childcare, workforce
development, financial equity. Additionally, Invanti will facilitate sessions, utilizing electronic and
physical templates, provide guidance, and support the efforts of the City and its partners to find
innovative solutions to these problems. Finally, Invanti will support in making the research and
findings of those efforts available to potential entrepreneurs and researchers that can design
novel solutions for these challenges.
Background: Invanti is a South Bend-based virtual startup studio and fund that creates and
invests in companies that solve problems impacting the daily lives of the majority of Americans.
The focus of their program is developing ventures that reimagine financial health, small business,
childcare, housing, transportation, and employment in cities like South Bend. Throughout 2020,
the INVANTI team helped the City’s Bloomberg-funded Commuters Trust team run an innovation
process to explore issues in reliable transportation and employment, ideate solutions, and create
and test a pilot plan. The pilot is a solution to help people with unreliable transportation access
better identify potential issues with used cars before the point of purchase and then partner
with local mechanics to incentivize proper maintenance.
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
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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 $ ________________