RM 06-16-66 - Laserfiche WebLink

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FOR EXPENDI 1w, From Project Expenditures Account Fund R -7 tt tt 11 ti tt R -29 it rt tt " 11 11 R-56 it tt ft IT ti R-57 4. COMMUNICATIONS $ 953.39 156.37 320.04 4,331.54 1.802.82 $7,564.16 a. Housing Authority letter of June 9, 1966 questioning land condition cf the Chapin Street Project, R -29. Since mailing this letter, Mr. Dickinson has verbally agreed to the full sale price of the land, which is $81,667. The Redevelopment Department has written to each of the three reuse appraisers and has received statements that 'appraised values did reflect ground conditions in Chapin roject. 5. BID PRCIPOSALS FOR REAL ESTATE R -7 '-I' CHAPIN ST. REUSE APPRAISAL VERIFICATION The Redevelopment Department -is having the purchase contract PREPARATION FOR prepared for the last parcel of land in the Sample Street Project, SALE OF LAST R -7. Pat Etrickler requested project data before release of PARCEL, SAMPLE informatior on last buyer. STREET, R -7 b. Th Harris Manufacturing Company closing date is scheduled HARRIS, TRACT 5, for June 2 , 1966, for the purchase of Tract 5. The alley will. R -7 have been fficially vacated by that time. c. Before closing of the Sample Street Project, which should` take approximately two to three months, the staff will request a Federal audit,-and the non -cash grant -in -aid forms will be re- submitted to the Chicago office. To answer the question on how much money will be left over from the project, the urban renewal projects ale designed to .come out financially balanced, and each proje t is considered separately. 6. NEW BUSIINESS a. ThE Commission approved the motion by Mr. Koczan, seconded by Mr. Helrren, that the Redevelopment Department reinvest for two months in L.S. Treasury Bills from the Project Expenditures Ac- count Fund, Chapin Street, R -29, the amount of $75,000; also reinvest f r two months from the Urban Redevelopment District Capital Fund, R -29, the maximum amount of $164,000 for.two months. b. The Commission approved the motion by Mr. Helmen, seconded by Mr. Komp r, that the Redevelopment Department process payment of a claim in the amount of $1,400, subject to approval of the ,Chicago DH D, for Dr. Edwin Rams, Washington, D.C., who has just completed the first reuse appraisal for the Industrial Expansion Project, R- 6. The reuse appraisal price cannot be revealed, but -3- PREPARATION FOR CLOSING SAMPLE ST. PROJECT REINVEST IN U.S. TREASURY BILLS, R -29 FUND R -56 FIRST REUSE EXPANSION PAY= MENT