HomeMy WebLinkAboutTransferring $250,000 Among Various Accounts Division of Community Development ORDINANCE No. 7512-85
Passed by the Common Council of the City of South Bend, Indiana
September 9, x985
Attest: City Clerk
IRENE K. GAMMON
Attest: ` 1 _ _ * i� President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
September 10, Ig 85
City Clerk
IRENE K. GAMMON
Approved and signed by me L t cS Ig
A/2/71,
Mayor
BILL NO.
ORDINANCE NO. 7,57,2_,76-
AN ORDINANCE TRANSFERRING $250,000 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 need 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 $250,000.00 is hereby transferred among
accounts as set forth below:
Reduce the following accounts:
Project No. Description Amount
CD85-608 Economic Development Capital
Fund - Avanti Corporation $250,000
Increase the following accounts:
Project No. Description Amount
CD85-102 Housing Rehab Fund $100,000
CD85-608 Economic Development Capital $150,000
Fund
TOTAL $250,000
SECTION II. This ordinance shall be in full force and effect from
and after its passage by the Common Council and approved by the Mayor.
.-r of the Comm uncil
\l's • Ott,
..... ,,,,t, /®'45°`',1,x8: 4 CITY of SOUTH BEND
0�
los A.:\ ��� ',e ROGER O. PARENT, Mayor otat /y
0, *A ``NpEA6E/^1 d' COUNTY-CITY BUILDING • SOUTH BEND,INDIANA 48801 • •
®°"\vas.
DIVISION OF COMMUNITY DEVELOPMENT
Colleen Rosenfeld 1200 County-City Building
Director South Bend.Indiana 46601
(219)284-9335
August 13, 1985
South Bend Common Council
4th Floor
County-City Bldg.
South Bend, IN 46601
Dear Council Member:
The attached appropriation bill submitted for your consideration
and approval will transfer the $250 ,000 appropriated for 'the
Avanti Project to two separate projects.
It is proposed that $100 ,000 be transfered to the Bureau of
Housing to be used for various programs including the Affordable
Loan, Emergency Repair and the Rental Rehabilitation programs.
The balance of $150,000 will be combined with private debt and
equity financing and other public assistance for an economic
development project within the East Bank Development Area. I
will be discussing the details of the project with the Council at
a later date.
Should you have any questions or require additional information
please contact Jon Hunt at 284-9371 or me at 284-9335 .
Looking forward to your favorable action on the proposed bill , I
remain
Sincerely,4 ( 1/
D nald E. Inks
Director
DEI/ed
cc: Jon R. Hunt
Pam Meyer
Attachment
Q nmmtttn Rood
can the ftnmmnn Mound' of Up (Mg of.'nutty fiend:
Your Committee of the Whole
to whom was referred
BILL NO.
102-85 A BILL TRANSFERRING $250,000 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
Joseph T. SergChairman
FREE PRESS oBeaN PUBLISHING CO.