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4. NN BUSINESS (Cont'd <br />g <br />Investment of Funds:.- Authorizat on :was <br />PROJECT EXPENDITURES <br />reques <br />a from a ommiss on to invest $200,000.00: <br />ACCOUNT FUND R -57 <br />for a <br />eriod of four (4) months, in the Project Ex= <br />pendit <br />res Account Fund R -57. The money�is from <br />the Re <br />evelopment District Capital Fund :and repre <br />sents <br />on -Cash Grant -in -Aid, and Boundary Street <br />Impro;v <br />ments, in the LaSalle,-Park Urban Renewal <br />Projec <br />R -57.- Project .funds were used to .pay <br />the total <br />cost of the site, ;imp.rvements and ;part <br />of the <br />cost was eligible. ,:District Capital. Fund <br />was billed, <br />and paid their share and reimb:Urs:ed <br />the project <br />cost and the $200.,000.00- is:,now avail- <br />able for <br />investment. Mr. Wilhelm asked what.the <br />interest <br />is and Mr. Helmen..apprised.it is now.. <br />- <br />5.97 %. <br />On motion by Mr. Helmen, seconded .by:-.:;Mr... <br />. . <br />Wilhelm, <br />authorization was granted to invest <br />$200,000.00 <br />for a period of -four (4) months, ;in <br />the Pr <br />ject Expenditures Account-Fund R -57.: The :. <br />"ayes" <br />were unanimous for authorization of the: <br />inves <br />ent of the funds. Mr. Helmen inquired <br />on the <br />money made on these bonds, whether it is <br />applie <br />to our fund or to the City general fund;,: <br />:. <br />and Mr. <br />Bellinger stated. _that it -is, credited, to <br />the Ur <br />an Renewal Fund. <br />- <br />h. <br />Neighborhood Development Program;: This - <br />NEIGHB.ORHOOD DEVELOP- <br />Progran <br />was directed to the;Redevelopment- Com- <br />MENT PROGRAM <br />missio <br />by the Common Council to develop and will <br />includE <br />the area generally - referred to as the..Ohio= <br />Keasey <br />area. Following the Commi:ssion,'s d.rective,: <br />the staff <br />has requested proposals from competent; <br />consultants <br />for assistance in.;preparing the appli- <br />cation. <br />To date, the staff has received response <br />from City <br />Planning Associates, Mishawaka; with the <br />other consultants <br />expected to respond no later <br />than net <br />week. Mr. Bellinger: apprised the Com- <br />mission <br />that staff assistance will be.needed to <br />prepare <br />the document, which must::receive local and <br />Federal <br />approval. <br />5, PRpGRESS REPORTS <br />a. Relocation Progress Re.ort:. Since: the RELOCATION PROGRESS <br />last CoTmission meeting, two families have moved REPORT <br />from the LaSalle Park Urban Renewal Project, R -57, <br />family f 14 moved into 221(h).housing on Leland <br />Avenue, and family of four moved into.PublicHous- <br />ing. I the Industrial Expansion Urban Renewal <br />Project, R -56, three families have moved -- consist <br />ing of n elderly couple into Leased Housing, <br />-7- <br />