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0UTH a <br /> South Bend <br /> _. Redevelopment Commission <br /> 1865 <br /> � 227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br /> Filed in Clerk's Office <br /> TO: Indiana Department of Local Government Finance NOV 2 7 2024 <br /> Mayor James Mueller <br /> South Bend Common Council Bianca Tirado <br /> City Clerk,South Bend, IN <br /> FROM: Troy Warner, President, South Bend Redevelopment Commission <br /> DATE: November 14, 2024 <br /> RE: Annual Spending Plan of the South Bend Redevelopment Commission for <br /> Calendar Year 2025 (IC 36-7-14-12.7) <br /> SPENDING PLAN FOR 2025 <br /> (Note: The following represent anticipated amounts.) <br /> A. Overview <br /> Under Indiana Code ("IC") 36-7-14-12.7, the South Bend Redevelopment Commission (the <br /> "Redevelopment Commission" or the "Commission") is required to file an annual spending plan <br /> for the upcoming calendar year with the Department of Local Government Finance, Office of the <br /> Mayor, and the Common Council. <br /> The report below describes planned expenditures by the Redevelopment Commission for <br /> calendar year 2025. This spending plan is based on projected incremental revenues for all <br /> development areas to be $42,029,227 and anticipated revenue for the Redevelopment General <br /> Fund to be $1,530,000. <br /> This spending plan has been prepared using information currently available to the <br /> Redevelopment Commission and its staff. Unexpected opportunities or needs may arise in <br /> 2025, making it appropriate for the Redevelopment Commission to make expenditures not <br /> anticipated by this spending plan. Such unanticipated expenditures could arise for several <br /> reasons including, but not limited to, the necessity to complete unforeseen projects; <br /> opportunities to modify debt payments; new unanticipated economic development or <br /> redevelopment opportunities; and support from both public and private entities, including grants <br /> or loans. <br /> In the event amendments to this spending plan are needed, the Redevelopment Commission <br /> will comply with the instructions set forth in the Memorandum issued by the Department of Local <br /> Government Finance on August 28, 2024. <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov <br />