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<br />South Bend Redevelopment Commission <br />227 West Jefferson Boulevard, Room 1308, South Bend, Indiana <br /> <br /> <br /> <br />Redevelopment Commission Agenda Item <br /> <br />DATE : 2/11/2025 <br /> <br />FROM: Sarah Schaefer, Deputy Director, Community <br />Investment <br /> <br />SUBJECT: Budget request for South Bend Financial <br />Empowerment Center office <br /> <br /> <br />Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res. <br />* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the <br />authorization of the expenditure of such funds shall be void and of no effect. <br /> <br />PURPOSE OF REQUEST: Budget request of $40,000 from West Washington Development Area to fund the <br />Financial Empowerment Center office at the MLK Dream Center. <br /> <br />SPECIFICS: This budget request is for $40,000 to build-out the space for the South Bend Financial Empowerment <br />Center (SBFEC) at the new MLK Dream Center, including infrastructure and office furniture. The office will have <br />desks for three employees and a private room for FEC counseling sessions. The FEC is expected to open in April <br />2025 at the MLK Dream Center and expects to hold approximately 960 counseling sessions in its first year. <br />Counseling sessions are free and available to any South Bend resident. SBFEC counselors will help individuals <br />manage their finances, pay down debt, increase savings, establish and build credit, and access safe and <br />affordable mainstream banking products. <br /> <br /> <br /> <br /> <br /> _________________________Pres/V-Pres <br /> <br />ATTEST: __________________Secretary <br /> <br />Date: ____________________ <br /> <br /> APPROVED Not Approved <br />SOUTH BEND REDEVELOPMENT COMMISSION