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The mo ion was made by Mr. Louis, seconded by Mr.. Koczan. <br />Mr. He men abstained'from voting ' because of.pe ' rsonal ' affiliation <br />and Mr Wiggins cast-a vote in favor of the Resolution* <br />c. Resolution 141, for.Chapin.Street-Project, R-29 RESOLUTION <br />was approved by the Commission upon the motion by Mr. Koczan, 141, R-29 <br />seconded by Mr. Helmen. Resolution 141 authorizes the sale, <br />issuance, and delivery of prelininary loan notes in the amount <br />of $55.7,000, with interest rate ' at 3.50%, to the National Bank <br />and Trust Company of South Bend, the execution of Requisition. <br />Agreement 4, . and the e * xec y ' execution and deliver of project <br />Temporary Loan Note 5, in connection with the Chapin Street <br />Project , R-29i*" <br />8. PRdGRESS REPORTS-- <br />' LaSalle Park R-57, Overall Report. The staff explained LASALLE <br />the steps to be taken to ' execute .the project and emphasized PARK. <br />that acquisition alone is a two year activity. It is only, OVERALL <br />recently that DHLJD concurrence on acquisition prices was REPORT <br />received on the first 80 parcels, These families are being <br />contacted on a personal basis, which is the best method but <br />takes longer. Therefore owners of 30 parcels have been'-, <br />contacted, and 12 owners of-par-cels have signed option-. <br />agreements up to,this time. The'Redevelopment ,Department has <br />60 days, to exercise rights'to purchase property after option <br />agreem nt has been signed. Acquisition of property is.expected <br />to be �ompleted by July of'1968. <br />Relocation,follows acquisition, and ' the staff does not <br />hesitate to mention it as being one of the most difficult <br />problems of urban renewal. The staff has be'gunrelocation <br />.activities,, and estimates completion in July, 1969. <br />The third step to'be taken is site clearance, and is <br />expected to begin in September, 1966, and completed in September <br />1969. <br />Pourth, is site preparation, and might begin in September <br />1966; completed December.1968. <br />Fifth, disposition is expected to begin in December 1966, <br />and conpleted in December 1968. <br />and may <br />for rek <br />of $1,! <br />Redevel <br />DHUD Wa <br />LaSalle <br />loans. <br />abilitation is a long process which has already begun, <br />be completed.by July 1970. The first DHUD approval <br />abilitation grant has been received in the full amount <br />)0. Thereare 300 homes to be rehabilitated. The <br />�pment Department has received the necessary letter from <br />shington, D. CO , stating that FHA has certified the <br />Park Project as eligible for 220 mortgage insurance <br />-5- <br />