HomeMy WebLinkAboutNo. 2614 appropriating monies for the purpose of defraying expenses of certain local public improvements for the fiscal year beginning 1/1/09 & ending 12/31/09 including all outstanding claims & obligations, fixing a time when same shall take effectt
RESOLUTION NO. 2614
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROPRIATING MONIES FOR THE PURPOSE OF DRFRAYING THE EXPENSES OF
CERTAIN LOCAL PUBLIC IMPROVEMENTS FOR THE FISCAL YEAR BEGINNING
JANUARY 1, 2009 AND ENDING DECEMBER 31, 2009, 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 2009, 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, Leighton Plaza
Courtyard and Wayne Street Garage Retail Space), for the fiscal year 2009, 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, 2009, 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,
December 4, 2009, at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
Nancy N. King Secretary
vi�AV�arner�,Vic�ePre�sident
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C: \Documents and Settings \CPHIPPS \Local Settings \Temp\XPgrpwise \TIFFUND 425 Revised.xls12 /3/2009
Fund 425
Redevelopment Retail
Building Operations Budget
for Calendar Year 2009
Proposed
Revised
Original
2009
2009
Budget
Budget
Beginning Cash @ 1/1
Cash in City Accounts
$131,105
$131,105
Accounts Receivable - City Accounts
0
0
Accounts Receivable - Wayne St. Retail
0
0
Cash with Fiscal Agent
24.669
24 669
Total Cash @ 111
155,774
155,774
Revenue (425.0000):
Due from Other Funds
0
0
361 -00 -00 Interest Income (City Cash)
0
0
Total Revenue on City Cash
0
0
Leighton Retail Revenue (425.1081):
362 -00 -00 Gross Potential Rent
97,799
109,567
360 -00 -00 CAM Income
27,495
40,585
Miscellaneous Income
6,852
1,744
361 -00 -00 Interest Income
4
0
Sub -total Revenue
132,149
151,896
Wayne Street Retail Revenue (425.1083):
362 -00 -00 Gross Potential Rent
14,324
22,752
360 -00 -00 CAM Income
0
0
Miscellaneous Income
0
0
361 -00 -00 Interest Income
0
0
Sub -total Revenue
14,324
22,752
TOTAL REVENUE
146,473
174,648
Leighton Retail Space (425.1081.460):
23 -99 General Maint. - Materials rials
2,000
3,350
31 -05 Appraisals
0
0
31 -10 Leasing Commissions
0
1,708
35 -01 Electric
850
330
35 -02 Gas
0
0
35 -03 Trash Removal
4,236
4,236
35 -04 Water /Sewer
0
0
36 -12 Common Area Maint. - Grounds
23,500
27,456
36 -13 Supervisor - Labor
6,500
7,068
36 -14 Repair Contract
0
0
36 -15 General Maint. - Labor
14,850
13,450
39 -02 Mileage
700
1,020
39 -03 Management Fee
8,050
7,836
39 -09 Admin Expenses
1,700
1,800
39 -89 Misc. Charges (Real Estate Taxes)
28,650
19,552
42.02 Capital - Buildings
0
17 000
Sub -Total Expenses
91,036
104,806
Leighton Plaza (425.1082.460):
22 -07 Landscaping Materials
60
0
22 -08 Maintenance Supplies
0
0
23 -99 Grounds Supplies
100
804
36 -12 Common Area Maint. - Grounds
42,550
40,135
36 -16 Landscape Contract
300
3,675
39 -01 Management Fee
975
975
39 -09 Admin Expenses
0
0
39 -64 Property Management
0
3 500
Sub -Total Expenses
43,985
49,089
Wayne Street Retail (425.1083.460) *:
39 -01 Management Fee
2,550
2,550
39 -04 Lease Commissions
0
0
39 -64 Property Management
0
0
39-89 Misc. Serv. & Charges (Real Estate Taxes)
26.000
0
Sub -Total Expenses
28,550
2,550
Reserve Fund
0
15,000
Total Expenses Retail & Plaza
163,571
171.445
Net Income for Fund 425
(17,098)
3,203
Ending Cash @ End of Period
$138,676
$158,977
C: \Documents and Settings \CPHIPPS \Local Settings \Temp\XPgrpwise \TIFFUND 425 Revised.xls12 /3/2009