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South Bend Redevelopment Commission <br />Regular Meeting - March 16, 2001 <br />6. NEW BUSINESS (CONT.) <br />i. continued... <br />Upon a motion by Mr. Caldwell, seconded by <br />Mr. Faccenda and unanimously carried, the <br />Commission approved the Satisfaction of <br />Obligations and Partial Release of Mortgage for <br />property located at 717 Blaine. (Housing <br />Development Corporation) <br />j. Commission approval requested for <br />Satisfaction of Obligations and Partial Release <br />of Mortgage for property located at 743 <br />Blaine St. (Housing Development <br />Corporation) <br />Mr. Inks noted that this was a Rental Rehab Loan <br />that has been paid in full. <br />Upon a motion by Mr. Faccenda, seconded by <br />Mr. Caldwell and unanimously carried, the <br />Commission approved the Satisfaction of <br />Obligations and Partial Release of Mortgage for <br />property located at 743 Blaine St. (Housing <br />Development Corporation) <br />k. Commission approval requested for <br />Certificate of Waiver for property located at <br />743 N. Blaine St. (Housing Development <br />Corporation) _ <br />Mr. Inks explained that items 61, 6.1, 6.m, and <br />6.n were all Certificates of Waiver. Under the <br />Rental Rehab Program 10% of the loan amount is <br />waived per year if certain conditions are met. <br />The conditions of the loan are: the owner must <br />retain lawful title to the property, the property <br />must be kept in good repair, fire and liability <br />insurance must be maintained, the owner must <br />In <br />COMMISSION APPROVED THE <br />SATISFACTION OF OBLIGATIONS AND <br />PARTIAL RELEASE OF MORTGAGE FOR <br />PROPERTY LOCATED AT 717 BLAINE <br />(HOUSING DEVELOPMENT CORPORATION) <br />COMMISSION APPROVED THE <br />SATISFACTION OF OBLIGATIONS AND <br />PARTIAL RELEASE OF MORTGAGE FOR <br />PROPERTY LOCATED AT 743 BLAINE ST. <br />(HOUSING DEVELOPMENT CORPORATION) <br />