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Council approves plan to add Lincoln–Kennedy area to River West TIF and create residential TIF set‑aside
Summary
The South Bend Common Council voted unanimously to approve a plan that expands the River West tax-increment finance (TIF) district and establishes a 20‑year residential TIF set‑aside for the Lincoln and Kennedy Park area to direct new housing tax revenue back into neighborhood infrastructure and development.
The South Bend Common Council on Aug. 25 approved a resolution expanding the River West tax-increment finance district and creating a residential TIF set‑aside to capture tax revenue from new housing in the Lincoln and Kennedy Park area.
The measure—passed 9–0—adds parcels to the River West TIF and designates a subset as a residential housing development area. Joseph Molnar, assistant director of Growth and Opportunity, told the council the residential TIF would capture incremental tax revenue from new single‑family construction beginning Jan. 1, 2025, and dedicate that…
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