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43 <br />INCREMENTAL DEVELOPMENT <br />South Bend’s small developer community is strong <br />and growing, and the City supports residents <br />and others commiƩ ed to the vibrancy of our <br />neighborhoods. Through the Build South Bend <br />iniƟ aƟ ve, local small developers and entrepreneurs <br />have access to technical assistance and resources <br />which provides the opportunity to gain a deep <br />understanding of the development process. Build <br />South Bend and City-supported programming <br />is focused on local control and development, <br />connecƟ on to resources, and helping advance a <br />resident-driven future for South Bend. <br />In 2024, the City hosted two mulƟ -day events <br />that featured networking events, workshops, <br />and one-on-one coaching. The workshops, which <br />featured over 60 aƩ endees, focused on the <br />fundamentals of incremental development and <br />topics such as fi nancing, acquisiƟ ons, sustainability, <br />using proformas, design, and more. City staff <br />and coaching partners assisted small developers <br />directly by conducƟ ng 18 in-depth one-on-one <br />coaching sessions, with nine acƟ ve development <br />projects receiving support. Upon compleƟ on, these <br />projects will represent more than $30 million in <br />investment in South Bend.TAX ABATEMENTS <br />Through tax abatements in 2024, the City of South <br />Bend is supporƟ ng exisƟ ng and pending projects <br />that will result in an esƟ mated $40.63 million <br />in private investment. In addiƟ on, new projects <br />supported through tax abatements will result in <br />427 new and retained jobs. <br />In 2024, acƟ ve tax abatement holders reported <br />2,060 created and retained jobs for real property <br />projects and 922 jobs for personal property <br />projects. Total private investment for these <br />City-supported projects was a reported $346.2 <br />million. For real properƟ es subject to acƟ ve <br />tax abatements, the 2024 assessed value was <br />$199.9 million combined, up from $17.5 million in <br />assessed value before the projects began. <br />GROWTH & OPPORTUNITY ANNUAL REPORT 2024 <br />Momentum Entrepreneurship Hub - Corner of Main Street <br />and Monroe in south Downtown (Before) <br />Momentum Entrepreneurship Hub - Corner of Main Street <br />and Monroe in south Downtown (AŌ er) <br />TAX ABATEMENTS <br />Build South Bend Incremental Development workship at the <br />Technology Resources Center