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South Bend Redevelopment Commission <br />Regular Meeting -February 8, 2011 <br />Commission approved Resolution No. 2845 <br />approving an application for an increase in <br />personal property tax deduction (McCormick <br />& Company. <br />D. Housing <br />(1) Forgiveness of partial balance on South <br />Bend Home Improvement Loan for <br />property located at 316 S. Scholum St. <br />(Mary Ann Roberts) <br />Ms. Jennings noted that in 2004 the <br />Redevelopment Commission approved a <br />South Bend Home Improvement Loan for <br />Ms. Roberts at 316 S. Scholum. Under the <br />teens of the loan, the loan becomes due in <br />full if the property is sold. Ms. Roberts is an <br />elderly woman residing in a nursing home. <br />Real Services has become her legal guardian. <br />Since Ms. Roberts no longer resides in the <br />home, Real Services is trying to sell it. The <br />property only appraised at $2,000, but is <br />selling for $6,500. The South Bend Home <br />Improvement Loan balance is $5,169. After <br />payoff of the SBHIP loan and all other <br />closing costs, Ms. Roberts will owe <br />$1,624.50 to the buyer. Ms. Roberts is very <br />low income and unable to pay the $1,624.50. <br />Real Services is requesting we reduce the <br />loan balance by that amount. The remaining <br />balance of $3,544.50 will be paid to the city <br />after sale of the property. Staff requests <br />approval. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Alford and unanimously carried, the <br />Commission forgave $1,624.50 of the South <br />Bend Home Improvement Loan balance for <br />316 S. Scholum St. (Mary Ann Roberts) <br />E. South Bend Central Development Area <br />(MCCORMICK & COMPANY <br />COMMISSION FORGAVE $1,624.50 OF THE SOUTH <br />BEND HOME IMPROVEMENT LOAN BALANCE FOR <br />316 S. SCHOLUM ST. (MARY ANN ROBERTS) <br />20 <br />