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South Bend Redevelopment Commission <br /> Regular Meeting—February 8, 2011 <br /> Commission approved Resolution No. 2845 (MCCORMICK&COMPANY <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 /> terms 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 COMMISSION FORGAVE$1,624.50 OF THE SOUTH <br /> Mr. Alford and unanimously carried, the BEND HOME IMPROVEMENT LOAN BALANCE FOR <br /> Commission forgave $1,624.50 of the South 316 S. SCHOLUM ST.(MARY ANN ROBERTS) <br /> Bend Home Improvement Loan balance for <br /> 316 S. Scholum St. (Mary Ann Roberts) <br /> E. South Bend Central Development Area <br /> 20 <br />