RM 01-15-71 - Laserfiche WebLink

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7. PROGRESS REPORTS - (Cont'd) 1971, Pre ident Nixon signed the Uniform Relocation Bill. - The Act makes significant changes. in.Relocation payments' and Assistance requirements under HUD - assisted programs. No contra :t or agreement for a project involving real property acquisition or displacement may be approved or execut d until further instructions are received. from HUD. For projects being carried out under exe- cuted contracts or agreements, existing contracts or agreement3 will require amendment to reflect payments and assistance provisions of the new act. President Wilhelm said that some of the reasons given for the d'scontinuance of the businesses is misleading: Some of t ese want to retire and all are not a result of urban enewal. b. Downtown Negotiations: Mr. .Hubert M. Weaver DOWNTOWN NEGOTIATIONS, gave a summary of accomplishments to date. Originally 230 R -66 'parcels -. were to be acquired, two were since added, or a total of 232. Acquisition was deferred on 16, with a ne of 216 parcels to acquire. Options have been secu ed on 118 parcels, condemnations on 37 parcels are in pr cess, giving a total of 155 to be deducted` from 216 o be acquired, or a' balance of 61 parcels in process o acquisitions. The budge ed'funds were $13,010,220 less $5,250,625 for parcels o tioned to date, or a balance-of $7;759:595. President Wilhelm requested that for the first of -each month, Mr Weaver give'an accumulated total of this kind. c. Financial Report, R -66: Mr. Helmen advised FINANCIAL REPORT, that on money borrowed for the R -66 project, the interest R -66'' accrued on bond issue was $421,570.45. This money was' used as required for properties investigated. The in- come was 379,012.52, leaving a net amount deficit of income as opposed to expense was $42,557.93, so we have come with n $42,557.93 of meeting our interest payments on the motley. We have been getting a return range from 4.90% to 7.75%. With interest going-down on investments, - we will probably not be able to make as much money as : last year. It is gratifying to know we have come within $42,557.93 of meeting our interest. President Wilhelm extended his.congratulations for the above to Mr. Helmen. 8. QUESTION AND ANSWER, SE5$1(W , 'QUESTION ;AND °,ANSWER SESSION On Mrs. Men's questions regarding the Mall, President Wilhelm s ated' the Mall is scheduled for 1973. However, the Commi sion has not, as yet, seen the plans. As -9-