HomeMy WebLinkAbout5A2 Resolution No. 3361RESOLUTION NO. 3361
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROPRIATING MONIES FOR THE PURPOSE OF DEFRAYING
THE EXPENSES OF CERTAIN LOCAL PUBLIC IMPROVEMENTS
FOR BEFORE DECEMBER 31, 2016, 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.
WHEREAS, on September 15, 2016, the Commission appropriated One Hundred Sixty
Thousand Four Hundred Six and 00 /100 Dollars ($160,406) for calendar year 2016;and
WHEREAS, the Commission now desires to approve said additional appropriations in a
total amount estimated not to exceed Ten Thousand and 00 /100 Dollars ($10,000);
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 2016, 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, 2016, 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
SOUTH BEND REDEVELOPMENT
COMMISSION
Signature
Marcia I. Jones, President
ATTEST: Printed Nante and Title
Signature
Donald E. Inks, Secretary
Printed Name and Title
Redevelopment Retail
Operations Budget
For Calendar Year 2016
Ending Cash at End of Period 218,882 208,882
Cash
Additional
Total
Beginning Cash at 1/1 Estimate
207,285
207,285
Revenue:
Leighton Retail Revenue
134,665
134,665
Wayne Street Retail Revenue
37,338
37,338
Total Revenue
172,003
172,003
Operating Expenses:
Leighton Retail Space
123,402
20,000
143,402
Leighton Plaza
30,300
(10,000)
20,300
Wayne Street Retail
6,704
0
6,704
Total Operating Expense
160,406
10,000
170,406
Net Operating Income
11,597
1( 0,000)
1,597
Ending Cash at End of Period 218,882 208,882