HomeMy WebLinkAboutTransferring $334,550 Various Accounts Department of Economic Development J '
ORDINANCE No. 7970-89
Passed by the Common Council of the City of South Bend, Indiana_
March 11, zg 89
Attest: T`--
"J ).-)5L-- ,,,„„)
City Clerk
IRENE K. GAMMON
Attest: ✓Z'lry / /•;�' President of Common f Council
Presented by me to the Mayor of the City of South Bend, Indiana
March 14, 19 89
City Clerk
IRENE K. GAMMON
Approved and signed by me A'��' !� 19 8`3"
° 1 Mayor
BILL NO.
ORDINANCE NO. ri et ri a-Z9
AN ORDINANCE TRANSFERRING $334,550.00
AMONG VARIOUS ACCOUNTS WITHIN THE
DEPARTMENT OF ECONOMIC DEVELOPMENT
STATEMENT OF PURPOSE AND INTENT:
In order to assure the efficient and timely utilization of
Community Development Block Grant Funds and that the immediate
needs of specific activities are met, transfers among accounts are
necessary.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the
City of South Bend, Indiana, as follows:
SECTION I. The sum of $334,550.00 is hereby transferred among
accounts as set forth below.
Reduce the following accounts:
Project No. Description Amount
CD87-603 Neighborhood Business Development
Corporation Administration $ 733
CD88-603 Neighborhood Business Development
Corporation Administration 3,667
CD88-604 Business & Technology Center 20, 000
CD88-302 Ko-Op 65 150
CD88-502 Community Coordinated Child Care 1
CD88-504 Older Adult Crime Victims 856
CD88-509 Neighborhood Centers 128
CD88-1101 Community Development Administration 8,667
CD88-201 Code Enforcemtn Mgmt. & Inspection 3, 000
CD88-203 Neighborhood Clean Up 1,500
CD88 Excess Program Income 9,760
CD88 Contingency 1,219
CD89 Program Income 200,000
CD86-602 SBCD Area Revolving Loan Fund 10, 000
CD86-605 South Bend Central Development Area 74,869,
TOTAL $334,550
Increase the following accounts:
Project No. Description Amount
CD89-607 SBCDA Revolving Loan Fund $179,869
CD89-604 Monroe Park Development 154 . 681
TOTAL $334,550
SECTION II. No costs will be incurred or funds expended for
any of the activities in this ordinance prior to an official
release of funds received from the United States Department of
Housing and Urban Development as may be required.
SECTION III. This ordinance shall be in full force and effect
from and after its passage by the Common Council and approval by
the Mayor.
(--
OUTH �Il
%j\d III
\ Vi 1' r j d City of South Be
nd
1 `L �.7/11 j Joseph E. Kernan, Mayor 1 Il
l4 },
, . _a s65
Department of Economic Development
Jon R. Hunt Ann E. Kolata
Executive Director Deputy Executive Director
February 16, 1989
South Bend Common Council
4th Floor Council Chambers
400 County-City Building
South Bend, IN 46601
Dear Council Member:
The attached bill for your consideration and approval will transfer
$334,550. 00 among CD Accounts. The reductions reflect unobligated.
balances at the end of current contracts as well as additional
program income expected and funds to "roll over" for the South Bend
Central Development Area. The increases will accomplish the
following:
1. Roll over $84,869 in 1986 funds to cover outstanding
obligations in the continuing SBCDA Revolving Loan fund program
administered by Center City Associates.
2 . Appropriate an additional $95,000 for the SBCDA Revolving Loan
fund for use on an acceptable Avon Theatre financing package.
3. Provide $154, 681 for acquisition, relocation, and clearance in
the Monroe Park area.
Please call me if you have any questions regarding this bill.
Sincerely,
40, +, r 9
Eli tt,eth Le• • •
Director
Financial and Program Management
EL:ml/f
cc: Jon Hunt
1200 County-City Building • South Bend, Indiana 46601 • 219/284-9371 Fax 219/284-9892
Redevelopment Economic Development Housing Rehabilitation Financial & Program Human Rights
Ann Kolata & Business Assistance Kathryn Baumgartner Management Mary E. Allen
284-9371 Donald Inks 521 Eclipse Place Elizabeth Leonard 284-9355
284-9335 284-9475 284-9335