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4. <br />PRESS RELEASES (Cont'd) <br />Mr. Lennon said one of the conditions in the NDP is that <br />action occurs within that year (first action year will be <br />18 months with no increase in dollar amounts). We will <br />have until July 1, 1974. We will be looking for developers <br />geared for all residential areas. It will be up to the PAC <br />Comm ttees to work with the developers. The key factor is <br />that we will be able to master a key plan. This particular <br />area will be bare land. It was estimated that approximately <br />eight (8) homeowners in the Southeast first action year would <br />have the opportunity to rehabilitate their homes if they so <br />desi ed, but with the elimination of the 312 Loan Program, <br />tota clearance will probably now be considered the only <br />feasible alternative. <br />Dr. Oohn A. Kromkowski, Director, Human Resources & Economic <br />Devellopment Department: <br />Mr. <br />95% <br />31 f <br />ance <br />two <br />"This also gives us a way to move in with private sector <br />in area as well. Total dependence on national dollars <br />is not certainly part of the present strategy and not <br />part of our strategy. Reservoir of private developers <br />is certainly more interested in cooperating with Model <br />Cities area and Southeast side." <br />nnon said basically the Southeast side area is set for <br />tal clearance and we will work with the PAC Committees. <br />ilies in Model Cities have agreed it will be total clear - <br />Altogether there are 60 families, 10 individuals, and <br />siness concerns to be relocated from the two areas. <br />Mayo Miller addressed the Commission and PAC representatives: <br />5. <br />the <br />anno <br />Prog <br />year <br />HUD <br />gran <br />All <br />"Gentlemen: <br />"I want to thank you so much for your efforts -- all your <br />work of six or seven years ago, and at last the work of <br />the people -- We can really see the time and effort spent. <br />It is really worth it for the community. <br />"You should really be congratulated for all your efforts <br />for the community!" <br />COMMUNICATIONS <br />a. HUD letter dated February 8, 1973: This letter over IND. A -10 APPROVED <br />signature of r. Steven J. Hans, Director, is the above <br />incement for the approval of the Neighborhood Development <br />,am (NDP) application, for Program No. Ind. A -10, for the <br />beginning January 1, 1973 and ending December 31, 1973. <br />allocated as a loan $1,037,500 and $1,000,000 as a capital <br />to aid in financing the program. <br />iecessary legal documents will be forwarded at a later date. <br />- 7 - <br />