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7. <br />4. 1 M1 <br />draft fc <br />Prqj ect, <br />of -eleve <br />were rep <br />items we <br />as follc <br />Federal <br />It was e <br />assessed <br />The same <br />only to <br />personal <br />into it <br />disposit <br />b., A <br />.Bend! s p <br />model wa <br />,and- i§ugg <br />locality <br />grades,, <br />their pr <br />needed 1 <br />,Chong presented to the Commissioners a very preliminary PRELIMINARY <br />the Survey and Planning; Application for the Downtown DRAFTFOR SURVEN <br />R-39. Criteria for application preparation, consisting AND 'PLANNING <br />,t points, were read and then the major project-Post items APPLICATION FOR <br />.ewed and explained in detail. The major project cost R-39. <br />�e similar to the estimates Blairtproposed figures I were, <br />FS: Gross Project Cost = $22,224,000; Net = $14,024,000. <br />;hare of 2/3 = $9,349,000 and City share of 1/3 = $4,-675,000. <br />plained that a factor of 3.3 was used to apply --to <br />valuation figures.to obtain estimated acquisition cost. <br />factor was applied to assessed valuation figures for land <br />rrive at disposition proceeds. Mr.,Cho.ng expressed <br />questioning of the disposition factor and proposed to go <br />urther despite opinions of some local realtors that the <br />on estimates were in line with current sales. <br />odel demonstrating A p9s.sible,use of part of South MODEL OF SCHOOL <br />oposed urban renewal pr,oject area was displayed. The CITY PROPOSED <br />prepared by a summer architectural;class at Notre Dame POSSIBLE USE FOR <br />§t6d A School City to accommodate 2,01.000'students-in one PART OF URBAN <br />All South Bend students, except for those in primary RENEWAL PROJECT <br />Duld use the facility. The students' concluded that AREA, R-39. <br />Dosal is feasible and would give the life and revitalization" <br />downtown South Bend. <br />C. Rieth-Riley <br />Construction Company, Inc., has asked that <br />R-29 CHANGE <br />we grant <br />them ten (10) more,- working.days, at no additional cost <br />ORDER FOR TIME <br />to the Redevelopment <br />Commission, in order to complete the -. <br />EXTENSION TO <br />original <br />work under the R-29 demolition-'site clearance contract. <br />RIETH-RILEY <br />The Commission <br />approved the motion of Mr. Koczan and the second <br />DEMO.-SITE CLFJ <br />of Mr. Kompar <br />that a Change Order be made to this effect. <br />ANCE CONTRACT <br />d. We <br />have $70,000 maturing in U.S Treasury Bills on <br />APPROVED. <br />REINVEST <br />August 26, <br />1965, therefore Mr. Louis made the motionj Mr., <br />$70,000 IN U.S. <br />Koczan seconded, <br />and the Commission approved that we,re I invest, <br />TREASURY BILLS <br />for 60 days in the Project Expenditures Account, <br />FOR 60 DAYS, <br />R-29-� Mr. <br />Louis raised the question as to how much interest <br />'U.S. <br />P.E.A.- R-29 <br />we receive <br />back on reinvestment of Treasury Bills, and <br />and an answer <br />will be provided the Commissioners at our next <br />meeting. <br />8. PROGRESS <br />REPORTS <br />a. The <br />next Mayor's Citizens Advisory Committee -on <br />MEETING <br />Cormunity <br />)bprovement will be Wednesday, August 25, 1965. <br />b. Chapin <br />Street Project, R-29. There is,only one more <br />R-29. <br />pr3perty <br />to be acquired. <br />-4- <br />