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South Bend Redevelopment Commission <br />Regular Meeting - April 7, 1995 <br />a. Public Hearing on Resolution No. 1333 <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, 1995 and ending <br />December 31, 1995 including all <br />outstanding claims and obligations, fixing <br />a time when the same shall take effect, <br />and establishing certain enterprise funds. <br />Mrs. Kolata asked that the proofs of <br />publication from the South Bend Tribune <br />and Tri- County News showing that the <br />Notice of Hearing was published on <br />March 3, 1995, be entered into the record. <br />There was no objection and the items were <br />so entered. <br />Mrs. Kolata noted that the Public Hearing <br />will consider Substitute Resolution <br />No. 1333. <br />Mrs. Kolata explained that Substitute <br />Resolution No. 1333 establishes an <br />enterprise fund for the purpose of receiving <br />the revenue and out of which to pay <br />expenses related to Blackthorn Golf Course. <br />The attachment to Resolution No. 1333 <br />shows the broad categories of the operating <br />budget. The five major expense categories <br />are: Golf Course Maintenance, <br />Administration, Golf Operations, Food and <br />Beverage, Management. The attachment <br />also shows total expenses and net income. <br />The total revenues for 1995 are projected at <br />$1,619,800. Total expenses are projected at <br />$1,248,980. The net income of $370,820 is <br />prior to making the debt service payment. <br />6. NEW BUSINFSS (Cont.) <br />-5- <br />