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Home My WebLink About10062-10 Appropriation- $157,000 Additional Funds from the Century Center Fund (#670)ORDINANCE No. ,oos~,o Passed by the Common Council of the City of South Bend, Indiana Attest: Attest: Presented by me to the Mayor of the City of South Bend, Indiana City Clerk •esident of Common Council City Clerk Approved and signed by me ~ ~ S~ 20 `~ Mayer December 13, 20 10 December 14, 20 10 ORDINANCE NO. L ov~~ ~a AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, APPROPRIATING ADDITIONAL FUNDS OF $157,000 FROM THE CENTURY CENTER FUND (#670) STATEMENT OF PURPOSE AND INTENT The Common Council passed the City's 2010 operating and capital budgets in 2009 (Ordinance #9957-09 and #9992-09), which included expenditures for various City enterprise operations. It is now necessary to appropriate additional funds for operational expenditures necessary for the City to effect provision of services to its citizens which were not anticipated at the time the City budget was adopted. NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: Section I. The following amounts are hereby appropriated in fiscal year 2010 and set apart within the following designated funds for operational expenses as follows: Fund Amount Century Center (#670) $157,000 TOTAL 157 000 Section II. This ordinance shall be in full force and effect from and after its passage by the Common Council and approval the M r. C. M\ember of the Common Council Presented by me to the Mayor of the City of South Bend, Indiana, on the p ~^ day of ~~y~~v , 2010, at ~~~ 3 ~ o clock t- . m. ^~~~~ Deputy i y Clerk Approved and signed by me on the / J ~ day of ~.-C.~ , 2010, at /D o'clock ~ t St READENv (~~ Ll--moo ~ ~ ~~t7V 1 7 2010 l~ayor~ Oity of Soh Bend, Indiana F'i.l~LIC HEARING lL~l~ -lc~ 3 r~ RF;^.?'PdG ~ Z ~ 3-~~ i - 1 ,, s NOT l,r~r'iiOVED «~i t ~..:..i.~ .,1. 4..~1:'?, ~?!. RcFERRED r-,~ssED ~ Z- l 3- l~ TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 79-10 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, APPROPRIATING ADDITIONAL FUNDS OF $157,000 FROM THE CENTURY CENTER FUND (#670) Respectfully report that they have examined the matter and that in their opinion, this bill is being recommended to the full Council with a favorable recommendation. Ann Puzzello Chairperson, Committee of the Whole City of South Bend, Indiana Year End Additional Appropriations (increases or decreases in total fund expenditures) November 17, 2010 Budget Department FisealOftleer/ Aeeount ineressel Fund Nama Name Account Nama ConUCt Nama Number Decrease Justification Civil Ci Funds Coun O lion Inwme Tex Polawatomi Greenhouse Buildin Ca ital Gre Zientaral 404-1108-452.42-02 100,000.00 Desi n end installation of six hi ffefficien heaters in the conservatories to re lace anti vated boilers. Bill Carleton Hall of Fame Ca ital Fund Hell of Fame Building Repair Gre Zientere 877-0414.645.36.01 137,804.00 Reimburse NFF for repairs 8 maintenance costs of Hall of Fame building since 2003 General Fund Enery~ce Other Professional Services John Mu h I 101-0607-419-31-OB 654,372.00 Seoond draw of ere wnsarvation rani received 9/13110. To be used for a traffic si nal o timization Gary Gilot stu end other ro'eils. 100°k reM funded from federel stimulus dollars. The Board of Public Works has ap roved a $400,000 contrail for traffic si naf o timization usin these funds, sub'eil to CounciUMa or roust of the additional a ro ria8on ordinance. UDAG Fund Ewnomic Devel~ment Building Ce ital GreggZientara 410.1002460.41-02 5,300,000.00 Economic Develo meM business retention ro'ed in downtown central distnil Coun O lion Inwme Tex Ewnomic Development Buildin Ca ital Gregg Zinntara 404-1002460.41-02 1,200,000.00 Economic Develo eM business retention ro eat in downtown central distnil Coun O lion Inwme Ta_ x Economic Development Buildin Ca flat GreggZientere 404-1002460-41-02 2,700,000.00 COIT Fund loan to UDAG Fund 410 in au oA of Economic Davel mart business retention ro ail in downtown central distnil. UDAG loan to be repaid to COIT Fund from UDAG future revenue stream over period of fscal 2011 to loan matun in fiscal 2015 without interest. UDAG revenue stream defined from BDC Business Develo mart Co ore8on obit ationa to UDAG Fund Liabili Insurance Fund Liabilit~nsurencs Llabilit~Clalms Chuck Leonel 226-0412-872-39-07 442,128.00 Increase liability daims budget tram $1 000 000 to $1 442 128. Total pa ants of $1,242,128 aid throw h Ma Amdl November 3, 2010. An edditionel amount of $200,000 ma be needed to cover two sadlemants that ma occur prior to year and. $242,128 current shortfall + $200,000 estimated ~ $442,128 estimated needed. Uabiliy claims history: 2009 - $507,209, 2008 - $248,917, 2007 - $410,905, 2008 - $374,089 2005 • $789,881, 2004 - $313,107, 2003 - $288,558 General Fund Police Depanment Misc. Cha es 8 S__ervices Don PinckerU 101-0801.421-39-89 115,548.00 Reimburse police officers for aaoline cha es deducted from II and de sited into account number Grogg Zientara 101-0801-380.10.94 in the General Fund during the eriod Au ust 2008 Mrou h Ju 2010. Per disussiona with olive unions. For 2010 Polies aao8ne costs ex iled to be a roximatel $150,0001ess than bud at. General Fund En inearing SignaVLi hg t Supplies Cori LittrelV 101.00_02.431.22-40 15,555.00 Uae remaining DNR Brent proceeds to purchase 8ashin beawns, controller, lea and solar anels used John M_u_ rph at pedestrian erossin s. Ci received a $250 000 rant on 915/08 for IUSB Northside Trail ro'eil. Total p~eil expenditures were $234 445 leaving an uns ant balance of $15,555. Per Cad Littrell discussion with DNR the remaining funds can ba spent for the above items in lieu of retundi the uns ant reM roceeds. Human Ri hts Grent Fund EE_OC Program Education 6 Training Lonnie Douglas! 258.1008-415.39.70 3,000.00 Pass-through grant of $3 000.00 received on Apri19 2010 and paid to Indiana Consortium of State and Rahman Johnson Local Governments. Funds de osited into revenue account #258.1008.380.10.99. No cost to the Ci . EMS Capital Fund Firo Department Motor VehlGe Mark Nowieki 288.0902422.43-02 600,000.00 Purchase Firo Department Ouint with assistance of a $600,000 laderet grant that will be deposited into revenue. The City match is $295,000 and this cost is being transfened from the exisitng Capital Lease bud et foror 2070 that will not be spent (see also the budget transfer ordinance). The Quint is expected to be approved _ by the Board of Public Works on December 8, 2010, subject to Common CounciUMa r e roust of the Total Additional A ro nations - Civil CI Funds 11,288,405.00 additional ep nation ordinance. Ente rise Funds Cantu Center Canlu~Center Prinel le Stacey hunch 870.0408-845-38-01 158,825.00 Payoff Old National Bank loan ea to avoid additional interest ex ense.Current interest rete of 3.58% Century Center Century Center Interest Stacey Church 670.0408-845-38-02 375.00 is higher than can ba earned on investments. Last payment is curremy scheduled for January 10, 2013. Century Center has sufficient cash reserves to make this loan payoff and it makes economic sense and Total Additional A r0 rlatiOns - Ente ris e Funds 157,000.00 has been authorized by the Century Center Board of Managers. Total Additional A ro rlaUona -All Funds 11,42s,aos.oo Fund Fund Total Grant Net Number Name A ro riationa Revenue CI Cost 101 General Fund 785,473.00 (689,927.00 115,548.00 228 Liabil' Insurence Fund 442,128.00 0.00 442,128.00 258 Human Ri hg to Grant Fund 3,000.00 (3,000.0 0.00 288 EMS Ca ital Fund 600,000.00 (600,000.00 0.00 404 COIT Fund 4,000,000.00 0.00 4,0 00 , 000.00 410 UDAG Fund 5,300,000.00 _ _ _ 877 Hall of Fame Capital Fund 137,804.00 0.00 137,804.00 Subtotal-Civil City 11,288,408.00 x,274,927.00 4,89$,478_00 870 Century Center Fund 157,000.00 0.00 157,000.00 Grand Total 11,425,405.00 (1,274,927.00) 4,852,478.00 Dna 2010 AdditionN Appopn.fbn Yser ErW nwkN~sstxla Peasd ofd COUNTY-CITY BUILDING 227 W.JEFFERSON BOULEVARD SOUTH BEND,IN 46601 PEACE x ~._~/ ~ 1865 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR OFFICE OF ADMINISTRATION & FINANCE GREGG D. ZIENTARA, CITY CONTROLLER November 17, 2010 Mr. Derek Dieter President, South Bend Common Council 4~h Floor, County-City Building South Bend, IN 46601 PHONE 574-235-9216 FAx 574-235-9928 Re: Ordinance of the Common Council Appropriating Additional Monies within certain Enterprise Funds of the Civil City of South Bend Dear President Dieter: The Common Council passed the City's 2010 operating and capital budgets in 2009 (Ordinance #9957-09 and #9992-09), which included expenditures for various City enterprise operations. It is now necessary to appropriate additional funds for operational expenditures necessary for the City to effect provision of services to its citizens which were not anticipated at the time the City budget was adopted. At present, the City has an outstanding debt obligation with Old National Bank, debt origination connected to the Century Center and its prior year's contract with Johnson Controls for energy conservation in the Century Center facility. The project was successfully concluded with desired results. The City desires to settle the outstanding Old National Bank debt obligation which upon settlement will save the city money in interest financing costs of the remaining debt obligation. The current debt service interest rate is 3.58% and exceeds the interest rate earned on existing Century Center related deposits and investments. The maturity date on the existing debt is January, 2013. Sufficient cash reserves exist at present within Century Center operations to affect this debt settlement without financial strain to ongoing Century Center operations. The Century Center Board of Managers approved the debt settlement action. I will present this bill to the Common Council at the appropriate Council Committee meeting, public hearing, and at the Council meeting. I am available to discuss any matters concerning this bill at the convenience of Council. Regard , Gregg D. lent a cc: Stephen J. Luecke, Mayor of the City of South Bend ~~