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South Bend Redevelopment Commission <br />Regular Meeting -December 4, 2009 <br />7. PROGRESS REPORTS (CONT.) <br />Mr. Varner asked how the program is advertised. Ms. <br />Trowbridge responded that they advertise periodically in <br />the newsletter that goes out in the water bills, <br />neighborhood newsletters, etc. Brochures are available <br />in the reception area on the 12`x' floor. Staff does track <br />how people hear of their programs and by far the most <br />common method is word of mouth. <br />Mr. Varner asked about the funding source and, <br />therefore, the boundaries of the program"s availability. <br />Ms. Trowbridge said that the source of funds is the <br />federal Community Development Block Grant. The <br />program is available within the City of South Bend <br />limits to income eligible home owners. <br />Mr. Varner asked whether all program funds must be <br />spent each year. Ms. Trowbridge responded that funds <br />can be carried over to the next year. The funds spent so <br />far in 2009 are those carried over fi•om ?008. <br />Ms. King asked how many transactions are processed in <br />a year. Ms. Trowbridge said that the program helps <br />between 35 and 50 homes per year. There are <br />considerably more applicants than that who don't <br />qualify. <br />Mr. Downes asked how much is disbw•sed through the <br />program each year. Ms. Trowbridge did not have that <br />infoi7nation available, but offered to provide that <br />inforn~ation later. Mr. Downes thought that would be <br />good information to publicize. <br />Mr. Downes asked if Ms. Trowbridge knew bow many <br />of the loans were actually repaid. Ms. Trowbridge <br />didn't have the exact figures, but said their collection <br />rate is very good. Uncollectible loans are referred to the <br />city's legal department. <br />Ms. King thanked Ms. Trowbridge for the information. <br />She said her interest in the guidelines was prompted by <br />14 <br />