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SOUTH BEND REDEVELOPMENT COMMISSION MEETING MINUTES NOVEMBER 18, 1977 PAGE FOUR 6. NEd BUSINESS (CONT'D) Da gles the legal financing officer at the regional HUD office in Chicago ani to all of the unsuccessful bidders. The interest is higher than the rate we pay now and will result in increasing the interest payment due in 1978, Au ust from an estimated cost of $43,900 to an actual interest cost of $51,087.40 an increase of about $7,187.00. I forsee no difficulty in pa ing off the interest and principal in August of 1978. The interest rate is an increase of six tenths of one percent over the -last rate. Mr. Ni tz indicated that this be received and placed on file. c.l Indiana & Michiaan Electric Companv reauest for easement Mr. Brownell indicated that the Indiana &"Michigan Electric Company are re uesting an easement to be granted, an easement that was requested before anJ we held it up thinking that the park department was going to come into ow ership of this land, but as we still own the land and the Indiana & Mi higan Electric , Company installed the lines and now are seeking the ea ment to make it legal. Mr. Butler indicated that he was not familiar en ugh with the situation to make any recommendation at this time, and su gested that the Commission authorize this per legal counsel review. Mr. Nimtz asked for approval subject to legal counsel review and to ad ise the Park Department of this situation, moved by Mr. Wiggins and su ported by Mr. Cira the motion uninamously carried. 7. PROGRESS REPORTS a.IMonthly resorts for the Northeast and North Housing Assistance Programs Mr. Davis in his report indicated that work is in progress in the Northeast Pr ject Area. Contract #2 has been started and Contract #3 will begin in th month of November. All facets of the Northeast Assistance Program are fu ctioning smoothly. In reporting to Mr. Brownell and Mr. DeLee Mr. Davis in icated that physical rehabilitation is in progress in both the Northeast and the Northwest Project Areas. Contract #2 is being completed in the north- east area and work will start on Contract #3 in this same area in the month of November. Contracts numbered 3B & 5 are in process in the northwest area with contract #6 scheduled to be opened November 18, 1977. Progress is good in both the northeast and northwest Assistance Areas. Mr. Nimtz indicated th t this be received and placed on file. Mr. Robinson asked about the progress of the law suits, Mr. Nimtz indicated that both law suits, that against the Mayor and the appeal relative to our resolution are both scheduled for November 28 with one in the morning and one in the afternoon before Judge Miller. 10 of pr th Brownell indicated for the information of the Commission that does not iuire action,the IBM copy machine contract is due to expire at the end this month. The purchase price of the machine is $6,900 and the rental ce which includes maintenance is $232.80 a month. Mr. Brownell indicated .t he recommended that this contract be renewed for another year. !re was no quarrel with allowing this contract to be renewed for another year.