HomeMy WebLinkAbout5A1 Budget Request (Market District Planning)_signedRedevelopment Commission Agenda Item
DATE: 1/25/2024
FROM: Leslie Biek, PE, Assistant City Engineer
SUBJECT: Budget Request – Market District Planning Contract
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:
Budget request for $2,400,000 out of River West TIF for the Federal share of the RAISE Grant for
Market District Planning and Preliminary Services.
Last November, the Redevelopment Commission approved the City’s share of $600,000 towards
the $3M Federal Raise grant. Due to the reimbursable nature of the grant, the full amount needs
to be appropriated before we can proceed with the consulting contract. As a result, it is requested
the RDC approve an additional $2,400,000 from River West TIF to cover the federal portion which
will be reimbursed back to the RDC as costs are incurred from the project.
INTERNAL USE ONLY: Project ID: 123-053 ;
Total Amount – New Project Budget Appropriation $__2,400,000_____________;
Total Amount – Existing Project Budget Change (increase or decrease) $______;
Funding Limits: Engineering: $___2,400,000____________; Other Prof Serv Amt $_______________;
Acquisition of Land/Bldg (circle one) Amt: $___________; Street Const Amt $_____;
Building Imp Amt $_________; Sewers Amt $_________; Other (specify) Amt $ ________________
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: __January 25, 2024______
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT
COMMISSION
X