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HomeMy WebLinkAbout9546-04 Appropriating $10,000 within Fund 212 for the purpose of protecting the City's interest in outstanding loansORDINANCE No. 9546-04 Passed by the Common Council of the City of Soutlt Bend, Indiana November 8, Attest: Attest: City Clerk esident of Common Council Presented by me to the Mayor of the Ciry of Soutlt Bend, Indiana November 9, 04 20 JOHN Approved and signed by me November 12 20 04 City Clerk Mayor 04 20 ORDINANCE NO. 1 S~b~©y AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,INDIANA APPROPRIATING $10,000 WITHIN FUND 212 FOR THE PURPOSE OF PROTECTING THE CITY'S INTEREST IN OUTSTANDING LOANS Statement of Purpose and Intent: In order to assure the efficient and timely utilization of Community Development Block Grant funds in accordance with the permissible uses of CDBG Program Income, certain appropriations are needed: NOW, THEREFORE, BE IT ORDAINED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The sum of $10,000 is hereby appropriated within Fund 212 for costs of collection, including, but not limited to: redemption of properties, upon which the City has a mortgage, at tax sale; and necessary filing fees, lease commissions, etc. on properties which produce CDBG program income. _ SECTION II. This Ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. a ,limit Me ber of the Common uncil Attest: Ci Cle Presented by me to the Mayor of the City of South Bend, Indiana on the ~ -4-~ day of ~,,n~ , 2~~, at 0 ~So o'clock 0~ , m. ~~" ~ ti ~ c a City Clerk Approved and signed by me on the %/ day of ~ , 2~~ , at~y,~o'clock m. Mayor, City of uth Be , ~(~~~ CIOf k'~ C~~~iC~ 1 st READING ~ 01LS'd`~ PUBLIC NEARING ~~-g-0`I OCT 1 9 2x04 3 rd READING ~ 1-~" -Q'-~ NOT APPROVED REI:ERRED JOHN VOORDE PASSED ~ ~-g -~ -1 CITY CLERK, S0. BEND, IN. TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 73-04 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA APPROPRIATING $10,000 WITHIN FUND 212 FOR THE PURPOSE OF PROTECTING THE CITY'S INTEREST IN OUTSTANDING LOANS Respectfully report that they have examined the matter and that in their opinion, this bill is being recommended to the full Council with a favorable recommendation. Sean Coleman Chairman 1200 COUNTY-C1TY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 PHONE 574/235-9371 FAx 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN 1. LUECKE, MAYOR COMMUNITY S~ ECONOMIC DEVELOPMENT SHARON T. ICENDAI-L EXECUTIVE DIRECTOR October 18, 2004 South Bend Common Council Fourth Floor Council Chambers 400 County-City Building South Bend, IN 46601 Dear Council Member: The attached bill for your consideration and approval will appropriate $10,000 from CDBG Program Income to cover cost of filing fees, lease commission and redemption of property at tax sale to protect the City's interest in home improvement loans previously made by the City. Such items are eligible as "costs of collection", from HUD's perspective. I will attend your November 8, 2004 meetings to present this bill. Please call me at 235-9330 if you have any questions. Sincerely, Elizabeth Leonard Director Financial & Program Management cc: John March Filed in Cier1~'s 0#fice OCT 1 9 2004 JOF1N VOORDE CITY CLERK, S0. BEND, lN. COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL HL PROGRAM PAMELA C. MEYER DONALD E. INKS MANAGEMENT ~~ 574/235-9660 574/235-9371 ELIZAEETH LEONARD O FAX: 5741235-9697 574/235-9371