Laserfiche WebLink
SouTx eF <br /> 1200N COUNTY-CITY Buu_Dwc PHONE 574.235.9216 <br /> 227 W. JEFFERSON BLVD. W����o-iece%i y FAx 574.235.9928 <br /> �"­- <br /> SOUTH BEND,INDIANA 46601-1830 y ,'11 1 a? <br /> le <br /> 1865 <br /> CITY OF SOUTt1 BEND PETE BUTTIGIEG,MAYOR <br /> DEPARTMENT OF ADMINISTRATION AND FINANCE <br /> November 12, 2013 <br /> Mr. Derek D. Dieter, President <br /> City of South Bend Common Council <br /> 227 W. Jefferson Boulevard, 4`I' Floor <br /> South Bend, Indiana 46601 <br /> RE: Revision of Major Moves Fund Interfund Loan Amortization Schedules with the <br /> Northeast Residential TIF Fund for the Eddy Street Commons and Triangle Development <br /> Dear President Dieter, <br /> On January 28, 2008 and on March 28, 2011, the Common Council approved <br /> appropriations from the Major Moves Fund to pay for certain infrastructure costs in <br /> connection with the Eddy Street Commons and Triangle Development projects. The costs <br /> paid by Major Moves are being repaid by the Northeast Residential TIF Fund according <br /> to amortization schedules and these schedules were based on maximum allowable <br /> expenditure limits. <br /> The final costs paid by Major Moves are now known and were $3,942,529 for Eddy <br /> Street Commons and $1,513,920 for the Triangle Development. Therefore, City <br /> Administration desires to amend the inter fund loan amortization schedules currently in <br /> effect to reflect the actual amounts paid. The interest rate charged and other terms have <br /> not changed. <br /> I will present this bill to the Common Council at the appropriate committee and council <br /> meetings. It is requested that this bill be filed for 1" reading on November 25, 2013 with <br /> 2nd reading, public hearing and 3`d reading scheduled for December 9, 2013. <br /> Thank you for your attention to this request. If you should ha, �an -ques}ions;-please feel <br /> to contact me at 574-235-7500. Fkt$CS irk ' <br /> Regards, <br /> Mark W. Neal <br /> i_ <br /> City Controller ; <br /> i CITY Gil. <br />