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South Bend Redevelopment Commission <br /> Regular Meeting—October 25, 2011 <br /> 6. NEW BUSINESS <br /> B. Public Hearing <br /> (2) continued... <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 APPROVED RESOLUTION No.2944 <br /> Mr. Alford and unanimously carried, the APPROPRIATING MONIES FOR THE PURPOSE OF <br /> Commission approved Resolution No. 2944 DEFRAYING THE EXPENSES OF CERTAIN LOCAL <br /> PUBLIC IMPROVEMENTS FOR THE FISCAL YEAR <br /> appropriating monies for the purpose of BEGINNING JANUARY 1,2011 AND ENDING <br /> defraying the expenses of certain local public DECEMBER 31,2011,INCLUDING ALL <br /> improvements for the fiscal year beginning OUTSTANDING CLAIMS AND OBLIGATIONS, <br /> January 1, 2011 and ending December 3 1, FIXING A TIME WHEN THE SAME SHALL TAKE <br /> 2011, including all outstanding claims and EFFECT(REDEVELOPMENT RETAIL). <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 /> 8 <br />