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91 <br />BUSINESS (Cont'd) <br />Par6el No. Amount Bid Bidder <br />28-27 <br />Management Land Policy:. , Mr. Karl L. <br />$ 750.00 <br />Modulage <br />Homes <br />28-31 <br />Government <br />1,000.00 <br />Modulage <br />Homes <br />30-1 <br />R -66 <br />950.00 <br />Modulage <br />Homes <br />30-10 <br />a C. Hammerschmidt, has reviewed this <br />1,250.00 <br />Modulage <br />Homes <br />31-12 <br />is requ <br />975.00 <br />Modulage-Homes <br />Mr. Wig <br />33-1 <br />1,400.00 <br />Modulage <br />Homes. <br />34-1 <br />policy states how the rental rates for al-1 <br />1,650.00 <br />Modulagp.Homes <br />acquired by the Department are.establ'ished,. <br />Unbuild ble Parcels -- No subsoia problems <br />Under 6,000 square feet <br />10- $ 175.00 L. L. Grim <br />12-13 150.00 Mrs. John Lindsey <br />18 150.00 John H. McClain <br />18-3a 150.00 John H. McClain <br />29-3 150.00 Grant Lewis <br />29-17 175.00 Grant Lewis <br />Unbuildoble Parcels -- Subsoil problems <br />6-17 $ 150.00 Mrs. Ocie Scott <br />7-3b2 150.00 Leo Verhaegen <br />On moti n by Mr. Chenney, seconded by Mr.- Wiggins, <br />bids for, Public Offering No. 3,.were tentatively <br />accepte , subject to Commission Legal.Counsel 'and., <br />staff r view, and authorized -for submission to <br />the HUD Office, in Chicago, pending requirements <br />of public disclosure. Motion was unanimously <br />passed Oy the Commissioners. <br />b. <br />Management Land Policy:. , Mr. Karl L. <br />MANAGEMENT LAND POLICY <br />Ebel said <br />that this is a HUD requirement for all.. _ <br />APPROVED,..CENTRAL DOWN- <br />Government <br />projects. This.policy.is :.for acquired <br />TOWN URBAN RENEWAL PROJECT, <br />property <br />in the Central Downtown Urban Renewal <br />R -66 <br />Project <br />R -66 and our Commission Legal Counsel, <br />Mr. Bru <br />a C. Hammerschmidt, has reviewed this <br />Managem <br />nt Land Policy and Commission approval <br />is requ <br />sted. <br />Mr. Wig <br />ins asked specifically, what are the factors <br />of the <br />olicy? Mr. Hammerschmidt stated that basi- <br />cally tie <br />policy states how the rental rates for al-1 <br />properties <br />acquired by the Department are.establ'ished,. <br />.,. <br />and is based <br />on the lowest: s <br />1. <br />The rental paid by the tenant prior toac- <br />quisitlon by the Department. <br />2. <br />One percent of the purchase price; if <br />multiple dwelling, then it is prorated to <br />each unit, <br />-7- <br />