HomeMy WebLinkAboutTransferring $119,500 Among various accounts of Community Development ORDINANCE No. 7644-86
Passed by the Common Council of the City of South Bend, Indiana.
May 27, 86
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Attest: City Clerk
IRENE K. GAMMON
Attest:/1_ ■r I t President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
May 28, 86
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City Clerk
IRENE K. GAMMON
Approved and signed by me a.t" ig 8 L
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Mayor
BILL NO.
ORDINANCE NO. 7100-16,
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AN ORDINANCE TRANSFERRING $119, 500 . 00 AMONG
VARIOUS ACCOUNTS WITHIN THE DIVISION
OF COMMUNITY 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:
SECTION I . The sum of $119, 500 . 00 is hereby transferred
among accounts as set forth below:
Reduce the following accounts:
Project No. Description Amount
CD85-106 . 3 South Bend Heritage Foundation $25, 000. 00
CD86-106 .3 South Bend Heritage Foundation 20, 000. 00
CD86 Program Income 35, 000 . 00
CD84-605 Western Avenue Commercial Loan 39, 500. 00
TOTAL $119, 500 . 00
Increase the following accounts:
Project No. Description Amount
CD86-603 Commercial Strips $119, 500. 00
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 approved
by the Mayor.
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M=gym.—er of Theiommon Council
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f os' 1111/4/,',06 o CITY of SOUTH BEND 0 ilto 3
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\�PENCE��:�. ; ROGER O. PARENT, Mayor O Oj = .•��w ��1°� • COUNTY-CITY BUILDING • SOUTH BEND,INDIANA 46601 • Y•
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DIVISION OF COMMUNITY PLANNING
AND DEVELOPMENT 1200 County-City Building
South Bend,Indiana 46601
(219)284-9335
Donald E. Inks May 2 , 1986
Director
South Bend Common Council
Council Chambers
400 County-City Building
South Bend, IN 46601
Dear Council Member:
The attached bill submitted for your consideration and approval
will transfer $119, 500 . 00 among CD accounts. Detailed
descriptions of the proposed changes follow.
1 . ) The first 3 items ($25,000 & $20, 000 from 2 South
Bend Heritage accounts and $35, 000 from Program
Income) will replace Commercial Strip funds to be
used on a "float" basis for acquisition of the Colfax
Cultural Center.
2 . ) The Western Avenue Commercial Loan transfer of
$39, 500 . 00 reflects the unexpended balance at the end
of this contract. The 1986 Commercial Strip
allocation will be used for the Citywide Commercial
Loan Program now being developed.
If you have any questions or desire further information, please
call .
Sincerely,
A4--4.--/- 4 E "(24'
Donald 1 Inks
Director
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cc: Jon Hunt
(lnmmtttu Erpnrt
On tie Comm Moonlit of the Titg of*mutt limb:
Your Committee of the Whole
to whom was referred
BILL NO.
53-86 A BILL TRANSFERRING $119,500.00 AMONG VARIOUS ACCOUNTS
WITHIN THE DIVISION OF COMMUNITY DEVELOPMENT.
Respectfully report that they have examined the matter and that in their opinion
This bill should be recommended to the Council favorable.
Ann B. Puzzello Chairman
FREE PRESS PUBLISHING Co.