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6. NEW BUSINESS (CONT'D) a (Cont'd) Janet Allen: "And you can break that down to see that none of the 14 houses..." Mr. Crighton: "Yes." Jeanne Derbeck: "In other words then you could go up to the ,000 limit on a house ?" M-. Crighton: "We could, but we won't. In this new procedure we are saving anywhere from 12 and 18 percent on our contracts, a tually we are getting a lower cost for rehab by going directly to the subcontractor instead of using a general contractor." Mr. Nimtz: "They (Housing Bureau) are actually being the general contractor in this thing." Jeanne Derbeck: "I see that, but still I thought that the $5,000 1 mit to some extent was a guard against putting too much money into a house that was not worth it." Mr. Wiggins: "Part of this understand, was established back when they were all done on individual houses." Jeanne Derbeck: "But still why should we put more money into a house than it's worth..." M . Wiggins: "Well I'm sure..." M . Crighton: "Who is to determine that ?" Jeanne Derbeck: "...Well, I think there's a point where..." Mr. Crighton_: "Who is to determine how much a house is worth. To a home owner a house may be invaluable if they can't find another property." Jeanne Derbeck: "But if it isn't going to last very long after you put money into it... Mr. Wiggins: "Even as he says, under rule of thumb a guideline of what... $9,000 is the maximum which may or may not be realistic, it depends upon a lot of factors, the size of the house for one." Mr. Robinson: "Mr. Chairman, could I be in order to make a motion? M . Nimtz: "Yes, but let me first of all say the chair now directs M Butler together with Mr. Crighton to come up with some g idelines and format as Mr. Wiggins suggested concerning how t ese things will be handled. Now we recognize the motion." M11. Robinson: "Because of F &F Electric being the low bidder, I m ke a motion we accept their bid." 16