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11 ANNUAL REPORT 2025GROWTH & OPPORTUNITY PROPERTY ACQUISITION (cont.) • State Theater – 212-216 S. Michigan Street The South Bend Redevelopment Commission purchased the historic State Theater in downtown South Bend to save the downtown landmark from conƟ nued deterioraƟ on due to neglect. Since taking ownership, the City has stabilized the building, fi xed the roof, and is working to prepare it for renova Ɵ on opportuniƟ es. In the fall of 2025, the Commission released a comprehensive Request for Proposals to solicit partners in the renovaƟ on of the theater. PROPERTY DISPOSITIONS Property disposiƟ on is the formal process by which the City transfers publicly owned real estate to another party through sale, lease, or another method as permi Ʃ ed by law. The disposiƟ on process is used to advance community goals, including redevelopment, neighborhood stabiliza Ɵ on, and returning underused land to producƟ ve use. In 2025, through the disposiƟ on of property, the City partnered with developers and organizaƟ ons with community-focused missions to create 339 new housing units and unlock $72.9 million in private investment. • SupporƟ ng Low-Income and Aff ordable Housing The City, through the South Bend Redevelopment Commission and in support of two successful Low- Income Housing Tax Credit applicaƟ ons, completed the sale of vacant lots for the construcƟ on of 92 aff ordable housing units, unlocking $28 million in private investment. South Bend Heritage Founda Ɵ on will construct a mix of housing types (42 units) in the far northwest of the City. Aff ordable housing developer KCG Companies LLC will build a 50-unit building on S. Main Street. These projects are representaƟ ve of the City’s focus on improving the amount and quality of aff ordable housing. This past year saw construcƟ on of new single-family homes in the southeast neighborhood and in the areas in and around Lincoln Park and Kennedy Park, which have both historically faced systemic challenges such as redlining that resulted in decades of stagnaƟ on, disinvestment, and populaƟ on decline. • Providing Childcare Downtown with New YMCA Lease In 2024, the City worked with the YMCA to open the Downtown South Bend YMCA in the Leighton Building (111 W. Jeff erson Boulevard). In 2025, the South Bend Redevelopment Commission entered into a lease with the YMCA to establish a new full-service childcare and Pre-K facility on the fi rst fl oor of the building, bringing new quality childcare opƟ ons to downtown and fulfi lling a long-standing priority of the AdministraƟ on. State Theater todayState Theater (circa 1959)