HomeMy WebLinkAboutNo. 2216 appropriate monies to defray expenses of certain local public improvements for fiscal year beginning 1/1/2006 ending 12/31/2006 including all outstanding claims and obligations (Leighton Plaza Retail Space and Courtyard)s
RESOLUTION NO. 2216
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, 2006, AND ENDING
DECEMBER 31, 2006, 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 2006, realize revenues and incur expenses in connection
with the operation and maintenance of the same; and
WHEREAS, the South Bend Redevelopment Commission has determined that 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 and Leighton Plaza
Courtyard), for the fiscal year 2006, 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 herein 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, 2006, the above referenced appropriations are
made within the South Bend Central Development Area Building Operations Budget Fund.
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 Friday,
January 20, 2006, at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601.
ATTEST:
. Do , ecretary
SOUTH BEND REDEVELOPMENT COMMISSION
Marcia I. Jones, Pr s'dent
I 1
I]
Fund 425
Leighton Plaza
Building Operations Budget
for Calendar Year 2006
Expenses:
Retail Space (425.1081.460):
23 -99
Original
2,090
Budget
Beginning Cash @ 111/06
1,811
Cash in City Accounts
$66,291
Cash with Fiscal Agent
38,614
Total Cash @ 1/1/006
104,905
Revenue (425.1081):
Supervisor - Labor
362 -00 -00 Gross Potential Rent
120,646
360 -00 -00 CAM Income
38,483
361 -00 -00 Interest Income
200
Total Revenue
159,330
Expenses:
Retail Space (425.1081.460):
23 -99
General Maint. - Materials
2,090
31 -10
Leasing Commissions
1,811
35 -03
Trash Removal
3,000
36 -12
Common Area Maint. - Grounds
12,955
36 -13
Supervisor - Labor
5,386
36 -14
Repair Contract
1,525
36 -15
General Maint. - Labor
14,600
39 -03
Management Fee
8,100
39 -09
Admin Expenses
1,200
39 -89
Real Estate Taxes
11,138
Sub -Total Retail Expenses
61,805
Plaza (425.1082.460):
22 -07
Bush Replacement
1,000
22 -08
Bulb Allowance
900
23 -40
Ice Melt
2,150
36 -12
Common Area Maint. - Grounds
26,220
36 -16
Landscape Contract
8,625
39 -01
Management Fee
900
39 -09
Admin Expenses
60
Sub -Total Plaza Expenses
39,855
Reserve Fund 20,000
Total Expenses Retail & Plaza 121,660
Net Income for Fund 425 37,670
Ending Cash @ End of Period $142,575
F:\ DATA\ SHARE \ECONDEV\FPM \Budgets \TIFFUND 425.xls12/29/2005