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CITY OF SOUTH BEND OFFICE OF THE CITY CLERK <br /> Committee Chair Warner stated that Bill Nos. 24-39 and 24-40 would be heard together unless <br /> there were any objections. <br /> Joe Molnar,Vice President of the Board of Public Works, with offices on the 13th floor of the <br /> County-City building, stated that EmpowerHer Development is dedicated to revitalizing the <br /> Monroe Park neighborhood through a significant investment in the historic Hope Rescue <br /> Building, located at 530 South Michigan Street. Originally built in 1923, the project will unfold <br /> in two phases with a total private investment of one million, six hundred thirty-one thousand, <br /> five hundred dollars ($1,631,500). In the first phase, a portion of the building will be renovated <br /> to create a shared commercial kitchen and food market. The second phase will focus on <br /> converting the remaining square footage into a boutique hotel. This redevelopment aims to boost <br /> the local economy, with businesses operating in the space expected to hire at least eight(8)new <br /> full-time employees and retain three (3) existing full-time positions. To support this initiative, the <br /> project will benefit from two tax abatements: a two-year(2-year)Vacant Building Tax <br /> Abatement and an eight-year(8) Mixed-Use Development Real Property Tax Abatement. These <br /> abatements represent significant savings, allowing EmpowerHer to focus more resources on the <br /> renovation. For comparison, the total investment of one million, six hundred thirty-one thousand, <br /> five hundred dollars ($1,631,500) is projected to bring substantial long-term economic benefits <br /> to the Monroe Park area, including increased employment opportunities and a revitalized historic <br /> landmark. <br /> Jasmine Bradley, the petitioner representing 530 South Michigan Street in South Bend, expressed <br /> her enthusiasm for addressing food access in the community through this project. She emphasized <br /> that the development will be particularly beneficial for local entrepreneurs and farmers, and the <br /> food market will accept WIC and SNAP benefits, making it accessible to low-income residents. <br /> Committee Member Ophelia Gooden-Rodgers inquired about the timeline for the project. <br /> Jasmine Bradley explained that they plan to begin Phase One (1) in the fall of twenty 2025, with <br /> Phase Two (2), involving commercialization, set to conclude by the fall of 2027. <br /> Committee Member Gooden-Rodgers congratulated Jasmine on her progress and success, she also <br /> asked for clarification on the concept of a boutique hotel. <br /> Jasmine Bradley explained that a boutique hotel offers a smaller, more unique lodging experience <br /> compared to traditional hotels. <br /> Committee Vice-Chair Tomas Morgan thanked Jasmine for her investment in the community and <br /> inquired about the relationship between Herstoric and the other building on the property. <br /> Jasmine Bradley noted that Herstoric already owns the Monard Building and has partnered to <br /> purchase the Hope Building, with plans to develop the space together. <br /> Committee Vice-Chair Tomas Morgan also asked whether there would be a request for <br /> redevelopment funds. <br /> Jasmine Bradley confirmed that she has applied for the READI grant and intends to seek additional <br /> funding. <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 455 County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p.574.235.9221 f.574.235.9173 www.southbendin.gov <br />