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South Bend Redevelopment Commission <br />Regular Meeting — November 2, 2001 <br />Mr. Inks noted that the loan is for $8,400 <br />to be repaid in the amount of $58.33 per <br />month for 144 months with an interest <br />rate of 0 %. The grant is for $8,200.50. <br />Upon a motion by Mr. Faccenda, <br />seconded by Mr. Caldwell and <br />unanimously carried, the Commission <br />approved the Loan and Grant in <br />accordance with the Affordable Loan <br />Program for property located at 1714 <br />South Oliver Street. (Angeline R. <br />Silberhorn) <br />(3) Commission approval requested for <br />Certificate of Waiver for property <br />located at 431 North Blaine Street. <br />(Nicholas L. and Mary Kenkel) <br />Mr. Inks explained that under the terms <br />of the Rental Rehab Program 10% of the <br />loan is forgiven each year if certain <br />conditions are met. This Certificate of <br />Waiver forgives $750 of the loan as of <br />January 31, 2001. <br />Upon a motion by Mr. Caldwell, <br />seconded by Mr. Faccenda and <br />unanimously carried, the Commission <br />approved the Certificate of Waiver for <br />property located at 431 North Blaine <br />Street. (Nicholas L. and Mary Kenkel) <br />(4) Commission approval requested for <br />Certificate of Waiver for property <br />located at 1526 Webster Street. <br />(Daniel Kois) <br />Mr. Inks noted that this Certificate of <br />Waiver forgives $850 of the loan as of <br />February 21, 2001. <br />0 <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN ACCORDANCE WITH THE AFFORDABLE LOAN <br />PROGRAM FOR PROPERTY LOCATED AT 1714 <br />SOUTH OLIVER STREET. (ANGELINE R. <br />SILBERHORN) <br />THE COMMISSION APPROVED THE CERTIFICATE OF <br />WAIVER FOR PROPERTY LOCATED AT 431 NORTH <br />BLAINE STREET. (NICHOLAS L. AND MARY <br />KENKEL) <br />