HomeMy WebLinkAbout6.B.(6) Filing Resolution No. 2543~- %~ ~ ~ '~
NOTICC OF PUBLIC HEARING
NOTICE OF RIsDEVF,LOPMENT RETAIL QUDGET HEARING
SOUTH [3ENU REDEVELOPMF,NT COMMISSION
The South Bend Redevelopment Commission hereby declares that on }~riday, January I6, 2009,
at 10:00am, a public hearing will beheld in the Board of Public Works meeting room, 1308 County-City
}3uilding, 227 West Jefferson Boulevard, South Bend, Indiana, concerning the following resolution
determining to approve and adopt a budget for the Redevelopment Retail -Building Qperations for fiscal
year 2008, and appropriating funds for the same. Members of the public arc cordially invited to attend
the hearing for the purposes of expressing their views.
RESOLUTION NO. 2543
A RESOLUTION OF THE SOU"CH BOND KEDEVGLOPMEN"f COMMISSION APPROPRIATING
MONIES POR THE PURPOSE OF DEFRAYING THE EXPENSES OF CER"PAIN LOCAL
PUBLIC IMPROVEMENTS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2009,
AND ENDING DECEMBF,R 31, 2009, INCLUDING ALL OUTS`hAND[NG CLAIMS AND
OBL]GA'hIONS, FIXING A TIME WFILN TFIE SAME SIfALL "TAKE EFFEC'C
WHEREAS, the South Bend Redevelopment Commission is the lessee of certain local public
improvements which, during calendar year 2009, realize revenues and incur expenses in connection with the
operation and maintenance of the same; and
WHEREAS, the South Bend Redevelopment Commission has determined that it is necessary to
appropriate the revenues of certain public improvements in order to defray the expenses of those local public,
improvements.
NOW, THFRh,FORF, BF IT RESOLVED BY "hHE SOUTll BEND REDEVELOPMENT
COMMISSION AS POLLOw'S:
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 2009, 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 gova'ning the same. The sums herein appropriated shall be deemed to
include all expendihues authorized to be made in said year, unless otherwise expressly stipulated or provided by
]aw.
2. For the fiscal year ending December 31, 2009, the above referenced appropriations arc made
within the South Bend Central Development Area Building Operations Budget l=ung.
3. This resolution shall he in Cull force and effect tcom and after its adoption.
Adopted at the Regular Mccting of the South Bend Redevelopment Commission held Friday, January
1 b, 2009. at 10:00 a.m.. 1308 Coun11~-City Building, ?27 West Jefferson Boulevard, South Bend, Indiana 46601.
SOUTI I BEND Rf~:DEVELOPMEN"1~ COMMISSION
ATTF:S'T:
Publish January 2, ?009
Fund 425
Redevelopment Retail
Building Operations Budget
for Calendar Year 2009
2009
i3udget
Beginning Cash @ 1/1 (est.)
Cash in City Accounts X122,877
Cash with Fiscal Agent 13,988
Total Cash @ 1/1 136,865
Revenue (425.0000):
361-00-00 Interest Income (City Cash) 0
Total Revenue on City Cash 0
Leighton Retail Revenue (425.1081):
362-00-00 Gross Potential Rent 109,567
360-00-00 CAM Income 40,585
Miscellaneous Income 0
361-00-00 Interest Income 1 744
Total Revenue with Fiscal Agent 151,896
Wayne Street Retail Revenue (425.1083)':
362-00-00 Gross Potential Rent 22,752
360-00-00 CAM Income 0
Miscellaneous Income 0
361-00-00 Interest Income 0
Total Revenue Wayne St. Retail 22,752
TOTAL REVENUE 174,648
Expenses:
Leighton Retail Space (425.1081.460)
23-99 General Maint. -Materials 3,350
31-05 Appraisals 0
31-10 Leasing Commissions 1,708
35-01 Utilities 330
35-03 Trash Removal 4,236
36-12 Common Area Maint. -Grounds 27,456
36-13 Supervisor -Labor 7,068
36-14 Repair Contract 0
36-15 General Maint. -Labor 13,450
39-02 Mileage 1,020
39-03 Management Fee 7,836
39-09 Admin Expenses 1,800
39-89 Real Estate Taxes 19,552
42-02 Capitallmprovements 17,000
Sub-Total Leighton Retail Expenses 104,806
Leighton Plaza (425.1082.460):
22-07 Landscaping Materials 0
22-08 Supplies 0
23-99 Repair & Maint. Supplies 804
36-12 Common Area Maint. -Grounds 40,135
36-16 Landscape Contract 3,675
39-01 Management Fee 975
39-09 Admin Expenses 0
39-64 Property Management 3,500
Sub-Total Leighton Plaza Expenses 49,089
Wayne Street Retail (425.1083.460)':
39-01 Management Fee 2,550
Lease Commissions 0
39-64 Repairs & Maintenance 0
Sub-Total Leighton Plaza Expenses 2,550
Reserve Fund 15,000
Total Expenses Retail & Plaza 171,237
Net Income for Fund 425 3,203
Ending Cash @ End of Period $140,068