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City of South Bend, Department of Redevelopment with regulations of <br />the Department of Housing and Urban Development effectuating Title VI <br />of the Civil Rights Act of 1964 and applicable Executive Orders. <br />2. That due to the fact that a large portion of unsold project land is <br />muck soil rendering it unbuildable and making it difficult to sell and <br />that all other project activities except non -cash local grant -in -aid <br />activities will be completed by September 30, 1973, a request for an <br />early closeout grant is in order because a projection of future <br />operating expenses would exceed the current fair reuse value of unsold <br />project land. <br />3. That an amendatory application on behalf of the City of South Bend <br />Department of Redevelopment for a loan under Section 102 (a) and <br />Section 106 (i) of Title I, referred to in the first WHEREAS clause <br />of this resolution, as amended by Section 213 of the Housing and Urban <br />Development Act of 1970, in the amount of $4,791,092 and for a Project <br />Capital Grant, including an early closeout grant and increased capital <br />grant and for a rehabilitation grant and a relocation grant to the full <br />amount available for undertaking and financing the project, is hereby <br />approved and that the Executive Director is hereby authorized and <br />directed to execute and to file such application with the Department of <br />Housing and Urban Development, to provide such additional information <br />and to furnish such documents as may be required in behalf of said <br />Department, and to act as the authorized correspondent of the City of <br />South Bend, Department of Redevelopment. <br />4. That said amendatory application for a loan of $4,791,092 incorporates <br />a pooling arrangement of local grants -in -aids between Projects Ind. R -57 <br />and Ind. R -66 because the LPA has not provided its full share of local <br />grants -in -aid but there is an amount of local grants -in -aid in excess of <br />the one -third (1/3) local share provided for Project Ind. R -66, such <br />excess being sufficient to cover the shortage in R -57. <br />Adopted at the regular meeting of the City of South Bend Redevelopment Commission <br />held at the office of the Department of Redevelopment, 1200 County -City Building, <br />227 West Jefferson Boulevard, South Bend, Indiana on the 7th day of September, 1973. <br />ATTEST: <br />(SEAL) <br />c <br />a e, Assistan ecreta <br />CITY OF SOUTH BEND, INDIANA <br />DEPARTMENT OF REDEVELOPMENT <br />; Z"'r4 <br />Fred J. elme ; President <br />