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08-03-01 Redevelopment Commission Minutes
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08-03-01 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />Regular Meeting— August 3, 2001 <br />6. NEW BUSINESS (CONT.) <br />L continued... <br />The staff report states that the loan is in the <br />amount of $8,100 at an Interest Rate Per Annum <br />of 7.00% to be repaid within 84 months. The <br />grant is in the amount of $1,978. <br />The McCauley's have an additional adult living <br />temporarily in their home, a Ms. Bethel. Ms. <br />Bethel's income was included in the household <br />income for computation of the interest rate and <br />grant. The application only provides information <br />on the McCauley's financial situation since they <br />are the borrowers. Ms. Bethel's income was not <br />included to support any debt since she does not <br />contribute to the bills. <br />Upon a motion by Mr. Kahn, seconded by Mr. <br />Caldwell and unanimously carried, the <br />Commission approved the Loan and Grant in <br />accordance with the Affordable Loan Program <br />for property located at 333 North Walnut road. <br />(Harold & Anna McCauley). <br />g. Commission approval requested for Access <br />Agreement with Allied Products Corporation <br />in the Sample -Ewing Development Area. <br />This is the initial step for undertaking a Phase II <br />study. This agreement provides access to the <br />Allied Products property for the Environmental <br />Consultant to take soil samples. <br />Upon a motion by Ms. Jones, seconded by Mr. <br />Kahn and unanimously carried, the Commission <br />approved the Access Agreement with Allied <br />Products Corporation in the Sample -Ewing <br />Development Area. <br />-8- <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN ACCORDANCE WITH THE AFFORDABLE LOAN <br />PROGRAM FOR PROPERTY LOCATED AT 333 <br />NORTH WALNUT ROAD. (HAROLD & ANNA <br />MCCAULEY). <br />COMMISSION APPROVED THE ACCESS <br />AGREEMENT WITH ALLIED PRODUCTS <br />CORPORATION IN THE SAMPLE -EWING <br />DEVELOPMENT AREA <br />
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