HomeMy WebLinkAboutNo. 1950 appropriating monies for the purpose of defraying the expenses of certain local public improvements for fiscal year beginning 1/1/2003 ending 12/31/2003 including all outstanding claims/obligationsA
RESOLUTION NO. 1950
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, 2003,
AND ENDING DECEMBER 31, 2003, 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 2003, 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 2003, 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, 2003, the above referenced appropriations are
made within the South Bend Central Development Area Building Operations Budget Fund.
L3. 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,
February 7, 2003, at 10:00 a.m., 1308 County-City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601.
ATTEST:
:4
SOUTH BEND REDEVELOPMENT COMMISSION
Marcia Jones, Vioe President
Fund 425
Building Operations Budgets
01/01/03
Original Current Actual
Budget Budget Expenses Obligations Balance
Beginning Cash @ 1/1/03 $0 $0
Revenue:
Management Fee
600
600
0
0
Gross Potential Rent
108,152
108,152
0
0
108,152
Vacancy Loss
(2,550)
(2,550)
0
0
(2,550)
Rent Concessions
(2,460)
(2,460)
0
0
(2,460)
CAM Income
23,402
23,402
0
0
23,402
Interest Income
200
200
0
0
200
Late Fees
0
0
0
0
0
Total Revenue
126,744
126,744
0
0
126,744
Expenses:
36 -16
Landscape Contract
7,800
7,800
0
Retail Space:
7,800
22 -07
Bush Replacement
2,200
2,200
39 -09 Admin Expenses
1,200
1,200
0
0
1,200
36 -12 Common Area Maint. - Grounds
8,800
8,800
0
0
8,800
36 -15 General Maint. - Labor
7,200
7,200
0
0
7,200
36 -13 Maint. Supervisor - Labor
6,500
6,500
0
0
6,500
23 -99 General Maint. Materials
900
900
0
0
900
39 -03 Management Fee
6,600
6,600
0
0
6,600
36 -14 Repair Contract
2,200
2,200
0
0
2,200
35 -03 Trash Removal
7,092
7,092
0
0
7,092
35 -01 Electric
1,000
1,000
0
0
1,000
-10 Leasing Commissions
3,171
3,171
0
0
3,171
IL31 Bad Debt
0
0
0
0
0
Sub -Total Retail Expenses
44,663
44,663
0
0
44,663
Plaza:
39 -01
Management Fee
600
600
0
0
600
39 -09
Admin Expenses
120
120
0
0
120
36 -12
Grounds Maint.
15,400
15,400
0
0
15,400
36 -12
Snow Shoveling
5,600
5,600
0
0
5,600
23 -40
Ice Melt
1,900
1,900
0
0
1,900
36 -12
Replacement of Light Bulbs
1,800
1,800
0
0
1,800
22 -08
Bulb Allowance
900
900
0
0
900
36 -16
Landscape Contract
7,800
7,800
0
0
7,800
22 -07
Bush Replacement
2,200
2,200
0
0
2,200
22 -07
Landscape Edging
0
0
0
0
0
36 -12
Bi- Annual Power Washing
950
950
0
0
950
Property Mgmt.
0
0
0
0
0
Sub -Total Plaza Expenses
37,270
37,270
0
0
37,270
Reserve Fund 36,000 36,000 0 0 36,000
Total Expenses Retail & Plaza 117,933 117,933 0 0 117,933
come for Fund 425 8,811 8,811 0 0 8,811
Ending Cash @ End of Period $8,811 $8,811 $0 $0 $8,811