HomeMy WebLinkAbout5C1 Budget Request (MLK Dream Center FEC) - Signed:f. South Bend
Redevelopment Commission
Y 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana
Redevelopment Commission Agenda Item
DATE: 2/11/2025
FROM: Sarah Schaefer, Deputy Director, Community
Investment
SUBJECT- Budget request for South Bend Financial
Empowerment Center office
Funding Source* (circie) River West; River East; South Side; Douglas Roa
ATTEST:
Pres/V-Pres
Secretary
Date: 13' d a 5
LJ`" APPROVED ❑ Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as
authorization of the expenditure of such funds shall be void and of no effect.
) RDC General; Riv. East Res.
by the City Controller, then the
PURPOSE OF REQUE5T- Budget request of $40,000 from West Washington Development Area to fund the
Financial Empowerment Center office at the MLK Dream Center.
SPECIFICS: This budget request is for $40,000 to build -out the space for the South Bend Financial Empowerment
Center (SBFEC) at the new MLK Dream Center, including infrastructure and office furniture. The office will have
desks for three employees and a private room for FEC counseling sessions. The FEC is expected to open in April
2025 at the MILK Dream Center and expects to hold approximately 960 counseling sessions in its first year.
Counseling sessions are free and available to any South Bend resident. SBFEC counselors will help individuals
manage their finances, pay down debt, increase savings, establish and build credit, and access safe and
affordable mainstream banking products.
EXCELLENCE ACCOUNTABILITY INNOVATION I INCLUSION EMPOWERMENT
1400S County -City Building 227 W. Jefferson Bvld. South Bend, Indiana 46601 p 574.235.9371 �wnvw southbendin.gov