HomeMy WebLinkAboutagenda item 2015 1029 rdc 05a3Department of
Community Investment
Memorandum
Monday, October 26, 2015
TO: Redevelopment Commission
FROM: Brock Zeeb, Director of Economic Resources
Parking Garage Budgets SUBJECT:
On August 27, 2015 the Commission approved Resolution 3300, allowing the Parking Garage
Fund to borrow $2,000,000 from the Major Moves Fund to make capital improvements to the
three City owned garages. Below is a three year capital° improvement strategy for these garages,
and their sources and uses of funds.
2015
1. Fund 601 (Parking Garage Fund)
o Wayne Waterproofing -$ 500,284.44
o Repair of Garage Sweeper -$ 3,800.00
o Purchase of Technology upgrade for billing I tracking -$ 16, 765.00
o Purchase of new maintenance equipment (multi-purpose tractor) -$ 25,000
(estimated -currently seeking quotes)
2. Fund 324 (RWDA)
o Waterproofing second level of Leighton $ 300,000
2016 Budget$ 1,250,000
Sources:
1. Fund 412 (Major Moves) -$ 1,000,000 (Debt Service paid by Fund 601 -Parking
Garage)
2. Fund 324 (RWDA)-$ 250,000
Uses:
1. Main & Colfax Slab Repairs
2. Phase 1 Elevator replacements (2 Elevators)
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 I P: 574-235-9371 I FAX: 574-235-9021 I SOUTHBENDIN.GOV
ITEM: 5.A.(3)
2017 Budget $ 1,300,000
Sources
1. Fund 412 (Major Moves) -$ 1,000,000 (Debt Service paid by Fund 601 -Parking
Garage)
2. Fund 324 (RWDA)-$ 300,000
Uses:
1. Leighton Deck Coating
2. Phase 2 Elevators replacement (2 Elevators)
3. Vertical I Overhead beam stabilization and stair repair I replacement (Main / Colfax
Garage)
The improvements as outlined above will provide better service to the customers using the
garages, while improving the structural stability and long term viability of all three assets.
Staff requests approval of this three year funding plan and the use of RWDA to fund a portion of
it, subject to future RWDA appropriations.
227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 I P: 574-235-9371 I FAX: 574-235-9021 I SOUTHBENDIN.GOV