HomeMy WebLinkAboutNo. 2296 appropriating monies for the purpose of defraying the expenses of certain local public improvements for the fiscal year beginning January 1, 2007 and ending December 31, 2007 (Fund 425, Leighton Plaza and Wayne St Garage retail)
RESOLUTION NO. 2296
. 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, 2007,
AND ENDING DECEMBER 31, 2007, 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 2007, 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, 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 2007, 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 herein 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, 2007, 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 Friday, January
19, 2007, at 10:00 a.m., 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601.
S UTH BEND REDEVELOP ,ENT COMMISSION
~i ~\
Marcia I . Jones , Pit'e dent
ATTEST
,~ _ ~'
Gregory S. "bownes, eeretary
•
Fund 425
Leighton PlazalWayne Street
Building Operations Budget
for Calendar Year 2007
2007
Budget
Beginning Cash @ 111107 $gg
605
Cash in City Accounts ,
Cash with Fiscal Agent 14,463
Total Cash @ 111107 83,069
Revenue (425.0000): 0
361-00-00 Interest Income (City Cash) 0
Total Revenue on City Cash
Leighton Retail Revenue (425.1081):
362-00-00 Gross Potential Rent 115,527
329
42
360-00-00 CAM Income ,
0
Miscellaneous Income 200
361-00-00 Interest Income
Total Revenue with Fiscal Agent
158,056
Wayne Street Retail Revenue (425.1083)*: 17,064
362-00-00 Gross Potential Rent 0
360-00-00 CAM Income 0
• Miscellaneous Income 0
361-00-00 Interest Income 17,064
Total Revenue Wayne St. Retail
TOTAL REVENUE 175,120
Expenses:
Leighton Retail Space (425.1081.460):
23-gg
General Maint. -Materials 2,090
31-05
Appraisals 0
408
6
31-10 Leasing Commissions ,
0
35-01 Utilities 056
5
35-03
36-12 Trash Removal
Common Area Maint. -Grounds ,
8,633
36-13
Supervisor -Labor 4,800
080
1
36-14 Repair Contract ,
200
12
36-15 General Maint. -Labor ,
7
g03
39-03 Management Fee ,
920
1
39-09 Admin Expenses ,
531
17
39-89 Real Estate Taxes ,
000
20
42-02 Capitallmprovements .
621
87
Sub-Total Leighton Retail Expenses ,
Leighton Plaza (425.1082.460):
22-07
Landscaping Materials 1,000
22-08
Light Bulbs g00
2
150
23-40
36-12 Ice Melt
Common Area Maint. -Grounds ,
25,226
36-16
Landscape Contract 7,196
39-01 Management Fee 900
0
39-09 Admin Expenses ~
• 39-64 Property Management 372
37
Sub-Total Leighton Plaza Expenses ,
Wayne Street Retail (425.1083.460)*:
39-01 Management Fee 2,400
0
Lease Commissions
000
6
39-64 Repairs & Maintenance .
400
8
Sub-Total Leighton Plaza Expenses ,
Reserve Fund 20,000
Total Expenses Retail & Plaza 153,394
Net Income for Fund 425 4,662
Ending Cash @ End of Period $87,731
*Wayne Street Retail was in Fund 424 in 2006
•