HomeMy WebLinkAbout5A i Resolution No. 3356RESOLUTION NO. 3356
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROPRIATING MONIES FOR THE PURPOSE OF DEFRAYING
THE EXPENSES OF CERTAIN LOCAL PUBLIC IMPROVEMENTS
FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2017, AND ENDING DECEMBER
31, 2017, INCLUDING ALL OUTSTANDING CLAIMS AND OBLIGATIONS,
FIXING A TIME WHEN THE SAME SHALL TAKE EFFECT
WHEREAS, the South Bend Redevelopment Commission is the lessee of certain local
public improvements which, during calendar year 2016, realize revenues and incur expenses in
connection with the operation and maintenance of the same; and
WHEREAS, the South Bend Redevelopment Commission has determined it is necessary
to appropriate the revenues of certain public improvements in order to defray the expenses of those
local public improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. For the expenses of the South Bend Central Development Area Building Operations
Budget Fund 425 (which currently includes Leighton Plaza Retail Space, Leighton Plaza
Courtyard and Wayne Street Garage Retail Space), for the fiscal year 2017, the sums of money, as
set forth in the budget which is made a part hereof, are hereby appropriated and ordered set apart
out of the funds hereinafter named, and for the purposes hereinafter specified, subject to the laws
governing the same. The sums here appropriated shall be deemed to include all expenditures
authorized to be made in said year, unless otherwise expressly stipulated or provided by law.
2. For the fiscal year ending December 31, 2017, the above referenced appropriations
are made within the South Bend Central Development Area Building Operations Budget Fund.
3. This resolution shall be in full force and effect from and after its adoption.
Adopted at the Regular Meeting of the South Bend Redevelopment Commission held
Thursday, October 13, 2016, at 9:30 a.m., 1308 County -City Building, 227 West Jefferson
Boulevard, South Bend, Indiana 46601
ATTEST:
Donald E. Inks, Secretary
Printed Name and Title
SOUTH BEND REDEVELOPMENT
COMMISSION
Marcia I. Jones, President
Printed Name and Title
Redevelopment Retail
Operations Budget
For Calendar Year 2017
Budget
Beginning Cash at 1/1 Estimate 208,882
Revenue:
Interest 1,700
Leighton Retail Revenue 158,976
Wayne Street Retail Revenue 36,338
Total Revenue 197,014
Operating Expenses:
Leighton Retail Space 116,202
Leighton Plaza 31,900
Wayne Street Retail .10,064
Total Operating Expense 158,166
Net Operating Income 38,848
Ending Cash at End of Period 247,730