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he acquisition prices_ were not disclosed, as President Wiggins tated these amounts -cannot become public record until they are pproved by HUD, in Chicago, as they are not final until approved. e requested a motion to submit the concurred -in values to the hicago Regional Office of the Department of Housing and Urban velopment for their.approval. On motion by Mr. Wilhelm, seconded . y Mr. Chenney, Resolution No. 275 was adopted, which authorizes he filing',of HUD- 614491 "Request for Concurrence -in Acquisition rices for'88 Parcels, in the Central Downtown Urban Renewal 11roject, R -66. Said motion was unanimously carried. he question was raised by several Commissioners as to when the roperties.will' actually be acquired and what answer can be given o the public when raised. Mr. Hammerschmidt apprised that after ixty (60) days, options can be taken and the staff can start ac- uiring the properties. President Wiggins stated this will•depend n both the market and the availability of funds. Some options can e taken, but until we get a large volume of money, we cannot buy he property. Mr. Hammerschmidt stated: "The first part of January, 970, we will definitely be in a position to acquire property from eople who want to sell." President Wiggins asked what the ceiling s on temporary loan notes now. 'Mr. Harmnerschmidt said he believed t was 6 %. 4. resident Wiggins requested the Commission Legal Counsel, Mr. Hammer. -, chmidt, to consider setting up an insurance and retirement program or our staff, which has been discussed previously. He apprised the ity's pension program has been ruled out. The Park Department and he Housing Authority have their own programs, and, if the Commission ould so. desire, this Department may also have their own program. Mr. ammerschmidt apprised that there is a question of the legality of hese programs and this will require further evaluation. He stated he State 'Board of Accounts has thrown out four programs, as not be- - 'ng qualified, or permitted plans, under the state law and under the ttorney General's interpretation of the law. The State Board of Ac- ounts is via the state plan. The Park Department and Housing Author - 'ty's pension plans are not under the state plan. HUD add NAHRO have guidelines for programs they permit. Ten (10) programs qualify with UD. 5. iith the conclusion of the business for which this meeting was called, n motion ,duly made and passed by Mr. Chenney,'the meeting adjourned It 4:35 P.M. ;1 >