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6. NEW BUSINESS (Cont'd youe Ju22 appt ieat i.on should be 6o& $2,500,000 and must ,inctude an of ig.inat and 4ive copies o6 each o J the 4 ottow.ing 1. Appt i cat i.on jot Loan and Grant HUD -612 and the neeessany legal data 4on 4iting the application. 2. Amended Project Expenditutcez Budget and Financing Plan (HUD 1=ohms 6200 and 6220). The &enewal gkant amount, as wete as the local sha&e, ate to be .inc&eased. Commun- ity Development Block Gant 4unds may be used, i4 neees- sany, 4o& the local shake. 3. A nak&ative statement outt in.ing any inenease on decAease should accompany the P&oj ect Expenditu&es Budget and Financing Plan. Each of the above documents a&e to be completed to accondanee with Urban Renewal P &ogxam Handbooks and Pnocedutceis. you& appt icat ion must be &ece.iv ed (In this o 6 j ice by close o4 bu.6iness Sept-ember 30, 1976. T J you have any questEons cvnee�w ng the ptcepa&a- tion and submi-6s.ion o6 tW mater iat, please contact Jeanne Meggs, at (317) 269 -7194. S,incetcety, /s/ Choice Edwa&ds, 6o& James E. Anmsttcong Area Diteeto& M% Brownell further advised that as a result of the above letter which a thorizes us to apply for the 2 -112 Million Dollars, as authorized by the W shington Office, we will present today, to the Redevelopment Commission, R solution No. 526, authorizing the filing of an Amendatory Application f )r Loan and Grant, in Project Indiana R -66. This Resolution has been d afted by Mr. Kevin J. Butler, Commission Legal Counsel. We have all the other forms filled out, plus we have an opinion from Counsel. We will need C mmission's adoption of this Resolution. The effect of this will be that w en we get the 2 -1/2 Million Dollars, our loan balance instead of being a proximately 7 Million Dollars, will be reduced to about $4,165,000 with tie monies from the sale of land and interest that we can pay. P rsuant to the invitation contained in the above letter, it was moved by M% Wiggins and seconded by Mr. Robinson to adopt Resolution No. 526, which i a Resolution of the City of South Bend Redevelopment Commission author - i ing the filing of Amendatory Application for Loan and. Grant, Project I diana R -66. Tie Chair stated this letter just came in this week and that our Commission L gal Counsel prepared the Resolution and opinion, and Mr. Brownell the other documentation required, as this is the culmination of the request for t is 2 -1/2 Million Dollars. He advised that we knew this was coming through s me weeks ago, but this is the formal recognition that we are going to get t e money. - 5 -