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9 <br />ANNUAL REPORT 2025GROWTH & OPPORTUNITY <br />FINANCIAL EMPOWERMENT <br />The South Bend Financial Empowement Center <br />launched in March of 2025 and moved into its <br />permanent home at the MLK Dream Center in June. <br />The FEC serves all South Bend residents over the <br />age of 18 by providing free one-on-one fi nancial <br />counseling. <br />In 2025, FEC counselors completed 214 counseling <br />sessions. Across the FEC clients, tjere was anm <br />increase in savings of $13,554 and a reducƟ on of <br />$127,307 of non-mortage debt. <br />Originally off ering four service areas, in October, the <br />FEC launched a fi Ō h service, Legacy Planning. With <br />legacy planning, counselors are able to help clients <br />protect assets for generaƟ ons to come. Counselors <br />assist clients by reviewing assets, reviewing <br />insurance and Ɵ tles, updaƟ ng account benefi ciaries, <br />and connect clients to resources that will help them <br />prepare for legacy planning documents. <br />July Grand opening of the FEC at the MLK Dream Center. <br />RESIDENTIAL DEVELOPMENT <br />PROGRAM AREA <br />In September 2025, following approvals <br />by the Common Council and the South <br />Bend Redevelopment Commission, the City <br />established the Lincoln and Kennedy Park <br />ResidenƟ al Housing Development Program Area <br />as a new development area for the purposes <br />of tax increment fi nancing. Under this new <br />residenƟ al development area, new addiƟ onal <br />tax revenues generated by real property <br />improvement in the area can be reinvested in <br />public works projects and improvements that <br />directly benefi t the Lincoln and Kennedy Park <br />Neighborhoods on the City’s West side. The <br />new residenƟ al development area was the fi rst <br />created in the City in 15 years. <br />REDUCTION OF NON- <br />MORTSAGE DEBT <br />$127,307 $13,554 <br />INCREASE IN <br />SAVINGS <br />214 <br />COUNSELING SESSIONS