HomeMy WebLinkAboutTransferring $373,814 Various Accounts within Department of economic Development ORDINANCE No. 7854-88
Passed by the Common Council of the City of South Bend, Indiana
March
14x9 88
Attest: �"`�`�" `'�` "`-'
City Clerk
IRENE K. GAMMON
Attest: ;= . . . �� i �� President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana _
March 15, 19 88
City Clerk
IRENE K. GAMMON
Approved and signed by me /s 19 S8
a G
Mayor
BILL NO: 74' Fk
ORDINANCE NO.
AN ORDINANCE TRANSFERRING $373,814. 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 $373,814.00 is hereby transferred
among accounts as set forth below.
Reduce the following accounts:
Project No. Description Amount
CD87-106.4 Monroe Park Housing $ 19, 175
CD87-202 Demolition 3, 000
CD87-605 Studebaker Corridor 5
CD87-502 Day Care Subsidy 325
CD87-504 Older Adult Crime Victims 157
CD87-506 CANCO 451
CD87-509 Neighborhood Centers 271
CD87-606 NBDC Administration 5, 600
CD86-201 Code Enforcement Mgt. & Insp. 34
CD86-202 Demolition 7
CD86-302 Monroe Park Improvements 13,433
CD86-602 SBCDA Revolving Loan 90, 000
CD86-603 Commercial Strips 50, 309
CD86-605 SBCDA Activities 20, 005
CD85-106.2 NHS 1, 000
CD85-610 Coveleski Stadium 352
CD85-608 Economic Dev. Cap. Fund 150, 000
CD84-606 Economic Dev. Cap. Fund 12,995
CD84-106.3 SB Heritage Foundation 1,263
CD87 Excess Program Income 5,432
TOTAL $373,814
Increase the following accounts:
Project No. Description Amount
CD88-608 W. Washington Area Development $ 87,000
CD87-603 Commercial Strips 25, 000
CD88-607 SBCDA Commercial Loan 100,000
CD88-606 Econ. Dev. Capital Fund 150, 000
CD88-609 Monroe Park Development 11,814
TOTAL $373,814
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
-ems CITY of SOUTH I:,END
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�,,\,01,,/,�, �, , JOSEPH E. KERNAN, MAYOR•
_ : 'Ix DEPARTMENT OF ECONOMIC DEVELOPMENT
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� 1200 COUNTY-CITY BUILDING SOUTH BEND, INDIANA 46 60 1 2 19/284-93 71
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JON R. HUNT
EXECUTIVE DIRECTOR
ANN KOLATA
DEPUTY EXECUTIVE DIRECTOR
February 15, 1988
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 $373,814. 00 among CD Accounts. The reductions reflect
unobligated balances at the end of current contracts. The
increases will accomplish the following:.
1. ) Establish a $87,000 fund for development activities within
the W. Washington/Chapin Area. Proposed uses for these
funds include: housing rehab assistance, public
improvements, planning, clean-up, and economic development
activities.
2 . ) Adds $25,000 to the Commercial Strip Revolving Loan Fund
for loans along neighborhood commercial areas.
3 . ) Provides additional funds ($100,000) for the Commercial
Revolving Loan Program in the South Bend Central
Development Area.
4. ) Provides $150,000 for Economic Development Capital Funds
for anticipated Business Development Corporation activity
for 1988. These funds were previously committed. This
action simply rolls the funds forward to the current
program year.
REDEVELOPMENT COMMUNITY DEVELOPMENT HOUSING REHABILITATION HUMAN RIGHTS FISCAL 8 PROGRAM
ANN KOLATA 8 BUSINESS ASSISTANCE KATHRYN BAUMGARTNER MARY E. ALLEN MANAGEMENT
284-9371 DONALD INKS 284-9475 284-9355 ELIZABETH LEONARD
284-9335 284-9335
5. ) Establish a $11,814 fund for development activities in the
Monroe Park area. Proposed uses for these funds include:
acquisition, public works, and clean-up activities.
Please call me if you have any questions regarding this bill.
Sincerely,
l i gh.eth Le•na d
Director
Financial & Program Management
cc: Jon Hunt
H'
Mammit"tre ti ar#
Ott tilt QInttimuit Olounrit of tip QIttg of 'roll limed:
•
Your Committee
to whom was referred
of the Whole
•
BILL NO. - •
•
13-88 A BILL TRANSFERRING $373,814.00 AMONG VARIOUS ACCOUNTS
WITHIN THE DEPARTMENT OF ECONOMIC DEVELOPMENT. '
Respectfully-report that they have examined the matter and that in their opinion
This bill should be recommended to the Council favorable.
•
•
Thomas Zakrzewski Chairman
•
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