Mayor James Mueller
Home » Departments and Divisions » Community Investment » Growth and Opportunity » Incentives, Loans, and Grants
| South Bend Vacant Building Enhancement Fund | The Vacant Building Enhancement Fund is a focused revolving loan fund that offers additional financing tools in the rehabilitation of vacant or partially vacant commercial buildings. The City seeks to support the redevelopment of vacant and underutilized commercial structures throughout South Bend by providing targeted loans to promote commercial real estate projects. |
| Revolving Business Enterprise Fund And Recovery Revolving Loan Fund | The Revolving Business Enterprise Fund provides gap and primary financing to private borrowers and start-up businesses in the City of South Bend, IN. It works for your business to equalize the playing field and offer an enhanced return on investment financing. |
| The Recovery Revolving Loan Fund (RLF) provides gap and primary financing to private borrowers including start-up businesses in the City of South Bend impacted by COVID-19. Our loans carry a low interest rate and flexible terms of repayment to support the recovery of impeded business operations. The funds are loaned up to 20 years for real estate, 10 years for equipment, and 3 years for working capital. Loans can range from $50,000-$1.5 million. | |
| Tax Abatement information | A Tax Abatement is an exemption from property taxes on eligible properties for up to 10 years. The amounts of these partial or full abatements can reach up to 100 percent of the increase in appraised value that results from developers’ improvements to the property. How to apply: If you’re interested in pursuing a Tax Abatement for your project, contact the City of South Bend Business Development Team at 574.235.5838 to get started. Staff will determine whether your project would be best fit for a tax abatement and will walk you through next steps. |
| Tax Increment Financing (TIF) Eligibility | Tax Increment Financing (TIF) is a way to provide funding for economic development purposes by capturing the growth in property taxes generated by new development. TIF revenues can be used to pay for local, public improvements needed to encourage private development or to facilitate additional development in the TIF area. |
| Downtown South Bend Exterior Enhancement Grant | For businesses located in downtown South Bend. The purpose of the Exterior Enhancement Matching Grant is to provide assistance in funding well-designed building façade and streetscape improvements respecting the buildings history, original design integrity and adjacent structures and making a noticeable visual enhancement in the downtown area. |
| Vibrant Places Matching Grant | Vibrant Places is a matching grant program for qualifying exterior enhancements to commercial, mixed-use and industrial buildings. |
| Business Security Technology Resources | The Business Security Program offers resources to receive a free security technology assessment and a grant. |