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South Bend Redevelopment Commission <br />Regular Meeting — October 3, 2003 <br />6. NEW BUSINESS <br />B. Housing <br />(3) continued... <br />Mr. Rock advised that the loan is in the <br />amount of $3,100 and the grant is in the <br />amount of $7,500. <br />Upon a motion by Mr. Kahn, seconded by <br />Mr. Faccenda and unanimously carried, the <br />Commission approved the Loan and Grant <br />in accordance with the South Bend Home <br />Improvement Loan Program for property <br />located at 1022 Portage Avenue. (Lori A. <br />Whiteman) <br />C. South Bend Central Development Area <br />(1) Commission approval requested for <br />Resolution No. 2005 related to acquisition <br />of property in the South Bend Central <br />Development Area by eminent domain. <br />(Inwoods Building) <br />Mr. Rock reported that Resolution No. 2005 <br />will give staff permission to send a purchase <br />offer for property located at 423 and 425 S. <br />Michigan Street in the amount of $435,000. <br />This property is commonly known as the <br />Inwoods property. The property is located in <br />an area previously found to be blighted. In <br />order to accomplish the redevelopment of <br />the area, it is reasonable, appropriate and <br />necessary to acquire the property because <br />redevelopment cannot otherwise be <br />accomplished. This building is in <br />deteriorating condition and is currently not <br />occupied. Staff believes that acquisition of <br />the property and redevelopment of the area <br />is in the public benefit and is reasonable and <br />appropriate. Acquisition and redevelopment <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN ACCORDANCE WITH THE SOUTH BEND HOME <br />IMPROVEMENT LOAN PROGRAM FOR PROPERTY <br />LOCATED AT 1022 PORTAGE AVENUE. LORI A. <br />WHITEMAN) <br />