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C. Commissi Mr. Helm izes the $1,195,0 137 auth $557,000 Project, e following two resolutions were approved by the , Resolutions 136 and 137, upon the motion by , and seconded by Mr. Koczan. Resolution 136 author - cceptance of bid for Preliminary Loan Notes,.for to finance the LaSalle Park Project, R -57. Resolution - izes the acceptance of bid for the - purchase of n preliminary loan notes for the Chapin Street -29. d. The Commission approved adoption of Resolution 138, upon the notion by Mr. Koczan, seconded by Mr. Helmen. The Resolutior authorizes the Redevelopment Department to certify the eligi ility of LaSalle Park and other residents for FHA 220 and 221 bkrtgage Insurance Loans. The applicant for this insurance must be certified that he is a resident of the project a ea or is building in the project. The Redevelopment Departmeni will submit FHA Form 3476 which is the Certificate of Eligibility. At this point., Mr., Helmen asked about the interest iate, which is about 5 I /M. The decision to lend money under FHA 220 and 221 mortgage insurance is up to the institution, but the Redevelopment Department has letters from bankers stating they will consider this type loan. A fuller report is to be given at the next meeting as to whether the government might make the loans, and all about any other possibilities. e. l motion by additiona LaSalle P for submi suggested Chicago t before co 8. Acqui ment Depa the maxim staff rec more for used incl averaged; (3) Chica Comparabl city of S and every market pr Mr. C1 had heard instance, e Commission approved by Resolution 139, on the Mr. Helmen, seconded by Mr. Koczan, that the 112 property acquisition prices for properties in the rk Project, as indicated on Form H -6144, be forwarded sion to Chicago DHUD for concurrence. The first 80 property acquisition prices were forwarded to ree weeks ago. It could take three to four weeks currence is received. ition Procedure, LaSalle Park, R -57. The Redevelop - tment has adopted the single offer method whereby m DHUD approved price is offered the owner. The gnizes the existing problem that some families paid heir homes than is being offered. The procedure de (1), three independent appraisers prices being (2) Commission. approval of the averages; and 0 DHUD d6scurrence of averages after field inspection.. s taken from recently,sold houses in the entire uth Bend have been developed by the appraisers, hing possible has been done to arrive at the fair ce. ong opened discussion on some comments that the staff that the prices are higher for some buildings, for those owned by Place and Company. However, those lots -4- RESOLUTION 136 FOR R -57; RESOLUTION 137 FOR R -29 RESOLUTION 138 RESOLUTION 139 ACQUISITION PROCEDURE, R -57