HomeMy WebLinkAbout5B1 2021 Operating Budget (Redevelopment Commission)
Redevelopment Commission Agenda Item
DATE: 11/23/20
FROM: Amanda Pietsch
SUBJECT: 2021 Operating Budgets
Funding Source* (circle one) River West; River East; South Side; Douglas Road; West Washington; RDC General
*Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller,
then the authorization of the expenditure of such funds shall be void and of no effect.
Purpose of Request:
This request is for the 2021 operating budgets for Redevelopment Controlled Funds. This only
covers necessary professional services, debt services, and interfund transfers out for debt service
and interest earnings. All other budget requests will be requested as needed in 2021 for project /
development agreement items.
River West TIF $10,246,596
• $390,384 professional services
• $3,883,193 debt service principal
• $959,216 debt service interest & fees
• $5,013,803 interfund transfers out for debt service
River East Residential $4,700,501
• $24,797 professional services
• $427,038 debt service principal
• $68,291 debt service interest & fees
• $4,180,375 interfund transfers out for debt service
Airport 2003 Debt Reserve $40,000
• $40,000 interfund transfer out of interest earnings to RW TIF
SBCDA 2003 Debt Reserve $50,000
• $50,000 interfund transfer out of interest earnings to RW TIF
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
Page | 2
South Shore Double Tracking Debt Service $1,027,750
• $650,000 debt service principal
• $377,750 debt service interest & fees
Redevelopment General $4,500
• $4,500 professional services
INTERNAL USE ONLY: Project ID: PROJ ;
Total Amount – New Project Budget Appropriation $_______________;
Total Amount – Existing Project Budget Change (increase or decrease) $_______________;
Funding Limits: Engineering: $_____________________; Other Prof Serv Amt $_______________;
Acquisition of Land/Bldg (circle one) Amt: $___________; Street Const Amt $________________;
Building Imp Amt $_________; Sewers Amt $_________; Other (specify) Amt $ ________________