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South Bend Redevelopment Commission <br />Regular Meeting — October 25, 2011 <br />there likely to be similar cases? Mr. Inks <br />replied it is not unusual to incur expenses to <br />obtain a tenant. Ms. Jones asked if staff <br />needs to include such expenses in the next <br />budget. Mr. Inks and Ms. Jennings agreed <br />that is the plan. <br />Mr. Downes asked if staff budgets for a <br />reserve fund. Mr. Inks replied there is <br />typically a line in the budget for <br />improvements to the spaces. <br />Mr. Downes noted an incorrect figure in <br />report of net income. Incorrect $23,502 <br />figure; should reflect $59,556. Dually noted. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Alford and unanimously carried, the <br />Commission approved Resolution No. 2944 <br />appropriating monies for the purpose of <br />defraying the expenses of certain local public <br />improvements for the fiscal year beginning <br />January 1, 2011 and ending December 31, <br />2011, including all outstanding claims and <br />obligations, fixing a time when the same <br />shall take effect (Redevelopment Retail). <br />C. Housing <br />(1) Loan and Grant in connection with the <br />South Bend Home Improvement Program <br />for property located at 104 S. Ironwood <br />Drive (Clyde J. Gilvin, Jr. and Donita J. <br />Gilvin). <br />Mr. Inks noted that the loan is in the amount <br />of $8,200; the grant is $8,030. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Varner and unanimously carried, the <br />Commission approved the Loan and Grant in <br />connection with the South Bend Home <br />7 <br />APPROVED RESOLUTION NO. 2944 <br />APPROPRIATING MONIES FOR THE PURPOSE OF <br />DEFRAYING THE EXPENSES OF CERTAIN LOCAL <br />PUBLIC IMPROVEMENTS FOR THE FISCAL YEAR <br />BEGINNING JANUARY 1, 2011 AND ENDING <br />DECEMBER 31, 2011, INCLUDING ALL <br />OUTSTANDING CLAIMS AND OBLIGATIONS, <br />FIXING A TIME WHEN THE SAME SHALL TAKE <br />EFFECT (REDEVELOPMENT RETAIL). <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN CONNECTION WITH THE SOUTH BEND HOME <br />IMPROVEMENT PROGRAM FOR PROPERTY <br />LOCATED AT 104 S. IRONWOOD DRIVE (CLYDE J. <br />GILVIN, JR. AND DONITA J. GILVIN). <br />