HomeMy WebLinkAbout8442-93 Appropriating $346,858 U.D.A.G. Fund Department of Community & Economic Development 8442-93
ORDINANCE No.
Passed by the Common Council of the City of South Bend, Indiana.
November 29, Iq 93
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Attest:. `° "�-' City Clerk
IRENE K. GAMMON
Attest: President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
November 30, 93
I9
City Clerk
IRENE K. GAMMON
Approved and signed by me /' V 19 93
Mayor
BILL NO.
ORDINANCE NO. 3 Li q ?-Q 5
AN ORDINANCE APPROPRIATING $346, 858 WITHIN ACCOUNTS WITHIN THE
U.D.A.G. FUND OF THE DEPARTMENT OF COMMUNITY AND ECONOMIC
DEVELOPMENT FOR THE PURPOSE OF PROVIDING ADMINISTRATIVE
SUPPORT TO THE DIVISION OF REDEVELOPMENT AND TO BUY-OUT THE
REMAINING CDBG-FUNDED LOANS FROM THE BUSINESS DEVELOPMENT
CORPORATION OF ST. JOSEPH COUNTY.
Statement of Purpose and Intent:
In order to assure the efficient and timely utilization of Urban
Development Action Grant Reimbursement Funds and to further the
implementation of certain community objectives, 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 $346, 858 is hereby appropriated within Fund
410 as follows:
Description Amount
BDC Loan Portfolio Buy-out $216, 858
Redevelopment Administration 130, 000
$346, 858
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.
Member of th ommon n
Cou cil
.c SOUTH B```
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A� r. City of South Bend
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\Y (� a�, Joseph E. Kernun. Mayor
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Community & Economic Development
Jon R.Hunt Ann E.Kolata
Executive Director Deputy Executive Director
November 1, 1993
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
$346, 858 of UDAG reimbursements for the purpose of buying out the
remaining CDBG loan in the Business Development Corporation' s portfolio
and to allocate funds for the administration of the Division of
Redevelopment. As you will recall, we briefly discussed both of these
issues at our department' s budget meetings with the Council during the
summer.
Please call me at 235-9335 if you have any questions.
Sincerely,
' ,mss , ' , k . .
izabth Leo•ar.
Director
Financial & Progr- u Management
cc: Jon Hunt
Ann Kolata
Don Inks
John March
Marcia Townsend
1200 County-City Building•South Bend, Indiana 46601.219/235-9371 •Fax(219)235-9021 •TDD(219) 235-5567
Redevelopment Business Assistance Bureau of Housing Financial&Program Planning&
Ann E. Kolata &Development Kathryn Baumgartner Management Neighborhood Development
235-9371 Donald E. Inks 521 Eclipse Place Elizabeth Leonard Pamela C. Meyer
235-9335 235-9475 235-9335 235-9660
Fax: 235-9469 Fax: 235-9697
finmmtttrr Krpnrt
coo the fanmmon Qlounril of Or Olitg of 0114 limb:
Your Committee of the Whole
to whom was referred
BILL NO.
102-93 PUBLIC HEARING ON A BILL APPROPRIATING $346,858 WITHIN
ACCOUNTS WITHIN THE U.D.A.G. FUND OF THE DEPARTMENT OF
COMMUNITY AND ECONOMIC DEVELOPMENT FOR THE PURPOSE OF
PROVIDING ADMINISTRATIVE SUPPORT TO THE DIVISION OF
REDEVELOPMENT AND TO BUY-OUT THE REMAINING CDBG-FUNDED
LOANS FROM THE BUSINESS DEVELOPMENT CORPORATION OF ST.
JOSEPH COUNTY.
Respectfully report that they have examined the matter and that in their opinion
This bill has been recommended to the Council favorable.
Chairman
Thomas Zakrzewski