HomeMy WebLinkAboutNo. 3244 appropriating monies for the purpose of defraying the expenses of certain local public improvements for the fiscal year beginning January 1, 2015 and ending December 31, 2015, includin gall outstanding claims and obligations (Redev Retail) 1
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1 RESOLUTION NO. 3244
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A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROPRIATING
3 MONIES FOR THE PURPOSE OF DEFRAYING THE EXPENSES OF CERTAIN LOCAL PUBLIC
IMPROVEMENTS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2015, AND ENDING
DECEMBER 31, 2015, INCLUDING ALL OUTSTANDING CLAIMS AND OBLIGATIONS,
FIXING A TIME WHEN THE SAME SHALL TAKE EFFECT
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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
s operation and maintenance of the same; and
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WHEREAS, the South Bend Redevelopment Commission has determined it is necessary to appropriate
I the revenues of certain public improvements in order to defray the expenses of those local public
1 improvements.
a NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
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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
1 Garage Retail Space), for the fiscal year 2015, the sums of money, as set forth in the budget which is made a
Ipart hereof, are hereby appropriated and ordered set apart out of the funds hereinafter named, and for the
j purposes hereinafter specified, subject to the laws governing the same. The sums here appropriated shall be
1 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, 2015, the above referenced appropriations are made within
the South Bend Central Development Area Building Operations Budget Fund.
3. This resolution shall be in full force and effect from and after its adoption.
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Adopted at the Regular Meeting of the South Bend Redevelopment Commission held Thursday, October
4 16, 2014, at 9:30 a.m., 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana
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SOUTH BEND REDS OPMENT COMMISSION
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9 u.rcia I. Jones, sident
ATT .'I': /
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I.nald E. Inks, Secretary
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Redevelopment Retail
Operations Budget
For Calendar Year 2015
Budget
Beginning Cash @ 1/1 Estimate 147,945
Revenue:
Leighton Retail Revenue 156,591
Wayne Street Retail Revenue 32 532
Total Revenue 189,123
Operating Expenses:
Leighton Retail Space 114,352
Leighton Plaza 30,300
Wayne Street Retail 10 064
Total Operating Exp. 154,716
Net Operating Income 34,407
Ending Cash @ End of Period 223,530