HomeMy WebLinkAboutResolution No. 3446 (Redevelopment Retail)RESOLUTION NO. 3446
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, 20199 AND ENDING DECEMBER
319 2019, 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 2019 realize revenues and incur expenses in
connection with the operation and maintenance of the same; and
WHEREAS, the South Bend Redevelopment Commission has determined 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 2019, 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 here 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, 2019, the above referenced appropriations
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
Thursday, September 13, 2018, at 9:30 a.m., 1308 County -City Building, 227 West Jefferson
Boulevard, South Bend, Indiana 46601
ATTE :
Signat re
Donald E. Inks, Secretary
Printed Name and Title
SOUTH BEND REDEVELOPMENT
OMMISSION
Signature
Marcia I. Jones, resident
Printed Name and Title
Redevelopment Retail
Operations Budget
For Calendar Year 2018
Budget
Beginning Cash at 1/1 Actual 162,656
Revenue:
Interest 27962
Leighton Retail Revenue 787548
Wayne Street Retail Revenue 0
Total Revenue 81,510
Operating Expenses:
Leighton Retain Space 341000
Leighton Plaza 39,000
Wayne Street Retail 5,000
Total Operating Expense 78,000
Net Operating Income 33510
Cash to be Transferred to Parks for On -Going 1663166
Maintenance of Plaza/Courtyard
Total 2018 BUDGET 244,166
Original 2018 Appropriation 1583166
INN 11011111111111,