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01-09-12 Council Agenda & Packet
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01-09-12 Council Agenda & Packet
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]S 0,.i <br /> CITY OF SOUTH BEND STEPHEN J. LUECKE,MAYOR <br /> DEPARTMENT OF ADMINISTRATION & F INANCE <br /> GREGG D.ZIENTARA <br /> CONTROLLER <br /> December 7, 2011 <br /> Mr. Derek Dieter <br /> President, South Bend Common CounciR ,� � <br /> 4th Floor, County-City Building <br /> South Bend, IN 46601 <br /> Re: Ordinance of the Common Council Creating a New Fund <br /> Dear President Dieter: <br /> Effective January 1, 2009, the City of South Bend, Indiana and the City of South Bend Redevelopment <br /> Commission entered into a Certified Technology Park Agreement with the Indiana Economic <br /> Development Corporation. <br /> Each redevelopment commission with a certified technology park is required by IC 36-7-32-23 to <br /> establish a separate certified technology park fund ("CTP Fund") to receive property tax proceeds, state <br /> gross retail and use taxes, and other revenue. Money deposited in the CTP Fund may be used for the <br /> acquisition, improvement, construction and maintenance of public facilities, debt service and other <br /> permitted uses under IC 36-7-32-23 in connection with a certified technology park. <br /> To accomplish this, it is in the best interests of the City of South Bend to establish a City of South Bend <br /> Certified Technology Park Fund (#439). Fund 439 will be a capital project fund for financial reporting <br /> purposes and will earn interest on outstanding cash balances. Fund 439 will be subject to annual <br /> appropriation by the City of South Bend Redevelopment Commission. <br /> City Administration submits this appropriation spending request for 151 reading at the December 12, 2011 <br /> Council Meeting, 2"d read, public hearing, 3rd read and Council vote at the same January 9, 2012 Council <br /> Meeting. <br /> City Administration will present this bill to Council at the appropriate committee meeting and at the <br /> Council session. <br /> Regard <br /> M' <br /> Gregg t3. entara ._ . . _. • p <br /> cc: St phen J. t-uecke, Mayor of the City of South Bend g <br /> County-City Building 227 West Jefferson Boulevard South Bend,Indiana 46601-1830 / <br /> Phone: 574/235-9216 Fax: 574/235-9928 TDD: 574/235-5567 0 <br />
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