HomeMy WebLinkAboutNo. 2774 appropriating monies for the purpose of defraying the expenses of certain local public improvements for the fiscal year beginning 1/1/10 and ending 12/31/10, including all outstanding claims/obligations, fixing a time when shall take effectRESOLUTION NO. 2774
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSSION APPROPRIATING MONIES FOR
THE PURPOSE OF DEFRAYING THE EXPENSES OF CERTAIN LOCAL PUBLIC IMPROVEMENTS FOR THE
FISCAL YEAR BEGINNING JANUARY 1, 2010, AND ENDING DECEMBER 31, 2010, 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 2010, realize revenues and incur expenses of those local public improvements.
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 2010, 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, 2010, the above referenced appropriates 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 Friday, October 15, 2010,
at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601
AL� R V PMENT COMMISSION
ATT T: Marcia I. Jones, esident
Nancy N. ng, Sec tary
14
Fund
425
Leighton Plaza/Wayne
Street
Building Operations Budget
for Calendar Year 2010
2010
Budget
Beginning Cash @ 1/1/10
Cash in City Accounts 132,137
Cash with Fiscal Agent 30,677
Total Cash @ 1/1/10 162,814
Leighton Retail Revenue (425.1081):
Gross Potential
Rent 87,975
CAM Income 31,136
Miscellaneous Income 11,231
Interest Income 3
Total Revenue with Fiscal
Agent 130,345
Wayne Street Retail Revenue (425.1083)
Gross Potential
Rent 17,000
CAM Income 0
Miscellaneous Income 0
Interest Income 0
Total Revenue Wayne Street Retail 17,000
TOTAL REVENUE 147,345
Expenses:
Leighton Retail Space (425.1081.460):
General Maint - Materials
2,790
Appraisals
0
Leasing Commissions
6,135
Utilities
3,580
Trash Removal
6,794
Common Area Maint.-
Grounds
20,620
Supervisor -Labor
11,169
Repair Contract
1,105
Admin. Exp.-
Mileage
1,059
General Maint.-
Labor
21,940
Management Fee
8,061
Admin. Expenses
3,479
Real Estate Taxes
35,039
Sub -Total Leighton Retail Expenses
121,771
Leighton Plaza (425.1082.460):
Landscaping Materials
0
Supplies
0
Ground Supplies
48
Maintenance Supplies
148
Common Area Maint.-
Grounds
28,141
Landscape
Contract
39
Management Fee
900
Admin. Expenses
0
Property Management
0
Sub -Total Leighton Plaza Expenses
29,276
Wayne Street Retail (425.1083.460):
Management Fee 2,550
Lease
Commissions 0
Real Estate Taxes 11,659
Sub -Total Wayne Street Expenses 14,209
Reserve Fund 0
Net Income for Fund 425 (17,911)
Ending Cash @ End of
Period 144,903
N