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5. NEW BUSINESS (Cont'd <br />new si a office. The architect and staff inspectors <br />found he rehabilitation cost to be economically <br />prohib tive. The purchase -price and the extensive <br />rehabi itation required would be in the neighborhood <br />of $20 000. On motion by Mr. Wilhelm, seconded by <br />Mr. Ch nney, authorization was granted to submit <br />the HU ) Form 6144 to the Chicago Office for acquisi <br />tion w th a concurred in price at an average of three <br />apprai als. <br />d Investment of Funds: Authorization was re- <br />quested from the Commission to invest $100,000 for a <br />period of three (3) months in the Project Expenditures <br />Account Fund R -57, and the investment of $50,000 for <br />a per. d of three (3) months in the Urban Redevelop- <br />ment D strict,Capital Fund. The above cash results <br />from m tuned treasury bills. The Chair entertained <br />a moti n for the investment of the above funds, and <br />on motion by Mr. Wilhelm, seconded�by Mr. Chenney, <br />authorization was granted for the investment of <br />$100,O CO in the Project Expenditures Account.Fund <br />R-57, and $50,000 in the Urban Redevelopment District <br />Capital Fund - -both for a three. - month period. <br />e. NAHRO Meeting: Authorization was requested. <br />to send staff personnel to attend the North Central <br />Regional Conference of the National Association of <br />Housing and Redevelopment Officials:to be held in <br />Grand Rapids :May 26 through May 28, 1969...This is <br />a Regio al Workshop meeting with the agenda covering: <br />Neighborhood Development Program <br />Code Enforcement Program <br />Housing Management <br />Relocation <br />Rehabilitation Financing <br />Urban Renewal and Public Housing <br />Mr. Ba a will be participating in -the Code;Enforce <br />ment Wo kshop Session. Mr. Bellinger requested <br />authori ation for a limited number of staff .personnel <br />to atte d the Code Enforcement Program and the work- <br />shop on Federally- assisted programs. On motion by <br />Mr. Wil elm, seconded by Mr. Chenney,. authorization <br />was'gra ted to send staff personnel to attend the <br />Worksho session for one day. <br />INVESTMENT OF FUNDS <br />NAHRO WORKSHOP, <br />MAY, 26 THRU 28,1969 <br />