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r. <br />•w <br />f <br />M0 <br />r <br />r:. <br />land it <br />the re] <br />will be <br />Chicagc <br />projecl <br />was of <br />5. B <br />the Sample Street Project was sold to private developers, <br />>cation of gas lines is eligible for claim. - The letter <br />referred to the attorney, and a copy will be sent to- <br />DHUD for immediate response, so that closing of the <br />might not be delayed. Past consideration for this claim <br />:he opinion the Redevelopment Department would not pay. <br />PROPOSALS FOR REAL ESTATE R -7 <br />It is hoped that in about 10 days °the sale of the last parcel LAST PARCEL <br />of land in the Sample Street Project, R -7 will be accomplished. R -7 <br />At this time, the purchaser's legal counsel is reviewing the <br />documents. <br />6. <br />a. The staff has just received the retyping of the Chas. CHAS. W. COLE <br />W - Cole Contract for Engineering for the LaSalle Park Project, ENGINEERING <br />R -57, which now include the civil rights clause. It will not be CONTRACT <br />necessary to include in the contract the liquidated damages READY FOR REVIEW. <br />clause or the time element factor as previously discussed,. R -57 <br />because the contract carries the right of termination <br />within seven (7) days if satisfactory service.is not.performed. <br />The staff may secure signatures and complete execution of ,the <br />contract in compliance with recent Commission approval after <br />final review by legal counsel and the staff. <br />7. NEWIBUSINESS <br />a. <br />In order that we complete processing of rehabilitation THIRD PARTY <br />loan applications <br />in the LaSalle Park Project, we must secure <br />CONTRACT <br />credit <br />reports on each applicant as part of project_ expense. <br />APPROVED WITH <br />The staff <br />studied this matter, and recommended that a contract_ <br />CREDIT BUREAU, <br />be let <br />to have a credit bureau prepare these credit reports <br />FOR LASALLE PARK <br />for us. <br />FHA in .Indianapolis and the Chicago DHUD office <br />R -57 <br />both agreed <br />with the type of contract and the amount to -be _. <br />paid for <br />such services. On this basis, the staff submitted <br />a third <br />party contract with the Credit Bureau of South Bend, <br />Inc., said <br />contract form . having been reviewed and approved_ <br />by Mr. <br />iammerschmidt for Commission approval. On motion of <br />Mr. Hel <br />en, seconded by Mr. Koczan the Commission voted to <br />approve <br />execution of this contract for a fee of-$48 -.00 per <br />annum a <br />d $4.50 for each credit report requested by the <br />Redevel <br />pment Department, with the total fee not to exceed <br />$1,600. <br />b. The Commission approved Resolution 140 authorizing RESOLUTION <br />the sal a, issuance, and delivery of preliminary loan.notes 140, R -57 <br />in the 3,mount of $1',195,000 with.interest rate at 3.75% to <br />The St. Joseph Bank and Trust Company and the execution of <br />Requisi ion No. 1 and Temporary Loan Note No. 2, in connection <br />with La alle Park Project, R -57. <br />