HomeMy WebLinkAboutNo. 3157 Approptiating Monies for the purpose of defraying the expenses of certain local public improvements for the fiscal year beginning 01/01/2014 and ending 12/31/2014, inc. all outstanding claims and obligations,RESOLUTION NO. 3157
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROPRIATING
MONIES FOR THE PURPOSE OF DEFRAYING THE EXPENSES OF CERTAIN LOCAL PUBLIC
IMPROVEMENTS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2014, AND ENDING
DECEMBER 31, 2014, INCLUDING ALL OUTSTANDING CLAIMS AND OBLIGATIONS,
FIXING A TIME WHEN THE SAME SHALL TAKE EFFECT
WHEREAS, the South Bend Redevelopment Commission is the lessee of certain local public
improvements which, during calendar year 2014, realize revenues and incur expenses in connection with the
operation and maintenance of the same; and
WHEREAS, the South Bend Redevelopment Commission has determined it is necessary to appropriate
the revenues of certain public improvements in order to defray the expenses of those local public
improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. For the expenses of the South Bend Central Development Area Building Operations Budget Fund
425 (which currently includes Leighton Plaza Retail Space, Leighton Plaza Courtyard and Wayne Street
Garage Retail Space), for the fiscal year 2014, the sums of money, as set forth in the budget which is made a
part hereof, are hereby appropriated and ordered set apart out of the funds hereinafter named, and for the
purposes hereinafter specified, subject to the laws governing the same. The sums here appropriated shall be
deemed to include all expenditures authorized to be made in said year, unless otherwise expressly stipulated
or provided by law.
2. For the fiscal year ending December 31, 2014, the above referenced appropriations are made within
the South Bend Central Development Area Building Operations Budget Fund.
This resolution shall be in full force and effect from and after its adoption.
Adopted at the Regular Meeting of the South Bend Redevelopment Commission held Thursday, October
10, 2013, at 9:30 a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601
BEND REDVLELOPMENT COMMISSION
Marcia I. Jones,
Varner, Vice -Pres
Redevelopment Retail
Operations Budget
For Calendar Year 2014
Budget
Beginning Cash @ 1/1 Estimate 108,235
Revenue:
Interest 500
Leighton Retail Revenue 131,267
Wayne Street Retail Revenue 32,536
Total Revenue 164,303
Operating Expenses:
Leighton Retail Space 112,104
Leighton Plaza 31,500
Wayne Street Retail 5,821
Total Operating Exp. 149,425
Net Operating Income 14,878
Ending Cash @ End of Period 123,113