HomeMy WebLinkAbout5A12 Resolution No. 3506 (SBCDA Building Operations) Closing Fund 425RESOLUTION NO. 3506
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION
APPROPRIATING TAX INCREMENT FINANCING REVENUES TO CLOSE
FUND RELATED TO THE SOUTH BEND CENTRAL DEVELOPMENT AREA
BUILDING OPERATIONS FUND NO. 425
WHEREAS, the South Bend Redevelopment Commission (the "Commission") once leased certain public improvements, including the Leighton Plaza Retail Space, Leighton Plaza Courtyard, and Wayne Street Garage Retail Space (the "South Bend Central Development Area Spaces") and established the South Bend Central Development Area Building Operations Fund No. 425 ("Fund 425") to deposit monies and pay expenses related thereo; and
WHEREAS, the Commission transferred ownership and/or maintenance responsibilities for the South Bend Central Development Area Spaces but was expected to incur expenses in connection to them during the calendar year 2019 (the "Expenses"); and
WHEREAS, the Commission appropriated funds from Fund 425 to pay the Expenses on February 14, 2019 pursuant to Resolution No. 3475; and
WHEREAS, the amount of the Expenses exceeds the appropriated amount pursuant to Resolution No. 3475; and
WHEREAS, the Commission desires to appropriate an additional amount to pay the remainder of the Expenses from Fund 425 and to close said fund.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT COMMISSION AS FOLLOWS;
1. The Commission appropriates the sum of Eight Thousand Five Hundred Ninety-Two Dollars ($8,592.00) from Fund 425 for the fiscal year 2019 for the purpose of paying the remaining Expenses related to the South Bend Central Development Area Spaces and closing Fund 425, subject to the laws governing the same.
2. 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, October 24, 2019, at 4:00 p.m., 1308 County-City Building, 227 West Jefferson
Boulevard, South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
Marcia I. Jones, President
ATTEST:
Quentin Phillips, Secretary