HomeMy WebLinkAboutAppropriating $10,000 General Revenue Sharing South Bend Lathe LoanPassed by the Commove Council of the City of South Bend, Indiana
_August 14, 1978
Attest. J�- � City Clerk
IRENE K. GAMMON
of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
Approved and signed by
August 15, z9 78
'4r A--��� City Clerk
IRENE K. GAMMON
ORDINANCE NO. 4 qas - ? 8
AN ORDINANCE APPROPRIATING, $10,000.00 FROM THE
FEDERAL ASSISTANCE GRANT, COMMONLY REFERRED TO AS
GENERAL REVENUE SHARING, FOR THE REIMBURSEMENT
OF CERTAIN COMMUNITY DEVELOPMENT COSTS ASSOCIATED
WITH THE SOUTH BEND LATHE LOAN, TO BE ADMINISTERED
BY THE CITY OF SOUTH BEND, THROUGH THE DEPARTMENT
OF ADMINISTRATION AND FINANCE.
WHEREAS, the usage of Community Development funds has been
declared ineligible for certain development costs associated with the
South Bend Lathe loan.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the
City of South Bend, Indiana, as follows:
SECTION I. That the sum of $10,000.00 is hereby appropriated
for the year 1978 from the Federal Assistance Grant Fund, commonly known as
the General Revenue Sharing Fund. This appropriation is to be administered
by the Administration and Finance Department, and will be distributed as set
forth below:
Account
530.0
Description
Refunds
A U11
Amount
$10,000.00
TOTAL FA 160 $10,000.00
SECTION II. This Ordinance shall be in full force and effect
from and after its passage by the Common Council, approval by the Mayor,
and the fulfillment of all statutory requirements for emergency appropriations.
1st READING ?' d1( _ 7
PUBLIC HEARING $ • 1 q - l t
2nd READING
NOT APPROVED
REFERRED
PASSED ?-I `S '.) &
Member of Common Council
FILED IN CLERK'S OFFICE
JUL 191,
Irene Gammon
CITY CLERK, SOUTH BEND, IND.
Peter H. Mullen
Director, Administration and
Finance
July 17, 1978
CITY of SOUTH BEND
PETER J. NEMETH, Mayor
COUNTY -CITY BUILDING SOUTH BEND, INDIANA 46601
Members of the Common Council
City of South Bend
4th floor
County -City Building
South Bend, Indiana
Dear Council Members:
219/284 -9742
There will be presented to you on July 24, 1978, an ordinance for the first
reading appropriating $10,000 from Revenue Sharing to repay the Community
Development Block Grant Fund based on a negative finding in the Community
Development first year audit.
If I may refresh your memories, in 1975, the City obtained federal funds to
save South Bend Lathe Corp. from either being sold or moved out of this area.
At that time, some of the preliminary work to obtain the South Bend Lathe loan
was funded through Community Development, on the advice of the past Director
of Community Development. The audit for that particular fiscal year recently
has been completed, and this particular expenditure has been declared ineligible,
and therefore must be repaid from other sources.
The particular item in question was a pre - feasibility study required by the
Economic Development Administration to even consider the loan. So while it
has turned out to be a non - eligible cost, the City would have had to do the
study anyway to obtain the loan funds.
If you hav ther questions, please feel free to contact my staff or my office.
P e H. u en
Contr ller
Director - Administration & Finance
(fommiurr Irpor#
(To 14t (Inuimon Tounril of t4r MtH of #vid4 lopud:
Your Committee OF THE WHOLE
to whom was referred
A BILL APPROPRIATING, $10,000.00 FROM THE FEDERAL
ASSISTANCE GRANT, COMMONLY REFERRED TO AS GENERAL
REVENUE SHARING, FOR THE REIMBURSEMENT OF CERTAIN
COMMUNITY DEVELOPMENT COSTS ASSOCIATED WITH THE
SOUTH BEND LATHE LOAN, TO BE ADMINISTERED BY THE
CITY OF SOUTH BEND, THROUGH THE DEPARTMENT OF
ADMINISTRATION AND FINANCE.
Respectfully - report that they have examined the matter and that in their opinion THIS BILL SHOULD BE RECOMMENDED
TO THE COUNCIL FAVORABLE.
FRANK HORVATH
Chairman
FREE PRESS PUBLISHING CO.