HomeMy WebLinkAbout5C2 Budget Request (Advantix Development Corp.) - SignedSouth Bend
Redevelopment Commission
227 West Jefferson Boulevard, Room 1308, South Bend, Indiana
Redevelopment Commission Agenda Item
DATE: 6/9/2025
FROM: Joseph Molnar, Assistant Director
Growth & Opportunity
SUBJECT: Budget Request Advantix Development
Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res.
* 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: $250k Budget Request to support the Advantix Development Project
SPECIFICS: On July 11, 2023, the Board of Public Works approved a Purchase Agreement with Advantix
Development Corporation for the sale of City owned 35 parcels and on July 13, 2023, the RDC also approved a
Purchase Agreement with Advantix for 8 parcels in support of a scattered site Low Income Housing Tax Credit
(LIHTC) application. In November of 2023, Advantix was awarded LIHTC credits by the State of Indiana for the
project.
In total, the project will consist of 50 low-income housing units built throughout northwest and westside
neighborhoods in South Bend on a lease to own model with a total construction cost of over $14,000,000.
Advantix has also worked with City planning to ensure that the houses are built to match the neighborhood
character of the neighborhoods. With that intention, Advantix is using the City of South Bend Pre-Approved
housing plans. The requested $250,000 will be used to aid Advantix to ensure the quality of the construction of
the housing units. Construction is expected to begin later this summer.
The Advantix project will activate long vacant properties, provide quality affordable housing opportunities for
South Bend residents, and invest significant resources on the near west and west side of the City.
Staff recommends approval.
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
June 12, 2025