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ORDINANCE NO. ~ ~~ 3~` ~~ ~ <br />AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, <br />INDIANA, APPROPRIATING $57,027.00 FROM THE ECONOMIC DEVELOPMENT <br />INCOME TAX FUND (No. 408) IN 2010 FOR ADDITIONAL COSTS OF THE <br />NORTHEAST TRIANGLE DEVELOPMENT PROJECT <br />STATEMENT OF PURPOSE AND INTENT <br />On December 14, 2009. as part of the 2010 capital budget, the Common Council of the <br />City of South Bend passed Ordinance No. 9993-09 which appropriated $410,000.00 in the <br />Economic Development Income Tax (EDIT) Fund (No. 408) for the Northeast Triangle <br />Development Project. The purpose of the funding was to provide for the acquisition and <br />demolition of eight units from the South Bend Housing Authority as part of an overall project to <br />provide new housing in the proposed Eddy Knolls development area. <br />It is now necessary to increase that appropriation by $57,027.00 due to the discovery of <br />asbestos covering the walls in six of the eight units. Higher demolition and abatement standards <br />apply which will increase projected demolition costs. The EDIT Fund has sufficient cash <br />reserves to pay for this additional appropriation. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA as follows: <br />Section I: The sum of $57,027.00 is appropriated from and set apart within Economic <br />Development Income Tax Fund (No. 408) for additional remediation costs of the Northeast <br />Triangle Development Project. <br />Section II. This Ordinance shall be in full force and effect from and after its passage by <br />the Common Council and approval by the Mayor. <br />Member of the Common Council <br />Atte <br />ity erk <br />~,~P~r~e's`e~nted by me to the Mayor of the City of South Bend, Indiana on the l.C`T~ day <br />of ~~"1' 2C~,v , at ~0'a~ o'clock ~ m. <br />