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COMMISSIONER'S REGULAR MEETING <br />Friday, arch 17, 1978 <br />FLO$ DISCUSSIONS <br />(Questions asked of Mr. Brademas regarding his proposal): <br />Mr. $an Caesar: Have you talked to Wyman's people? <br />Mr. rademas: I have talked with the representatives of the owners of <br />both pieces of property, and have been convinced that if the Commission <br />offered a fair arm's length price for the property, that there would be no <br />objection to selling it. <br />Mr. Dan Caesar: Did they indicate a price to you? <br />Mr. rademas: They did not. <br />Mr. Butler: But our prices are always fair Dan, you know that. <br />Mr. Wiggins: Nothing but fair prices. <br />Mr. imtz: Anything further? <br />Ms. " eanne Derbeck: Would these apartments be low income? For low income <br />people or what? Don't you feel there is a market at all for housing for <br />older people that might be a little nicer? <br />Mr. rademas: Well, when you say a little nicer, I would invite you to <br />come over to the 100 Center and see those apartments. They are all air <br />cond tioned, carpeted.... they are really first rate. I would be more than <br />happ to have my mother live in one. I think you would find that they are <br />real y first rate. <br />Mr. ghapleau: For $360.00, I think they are going to be pretty nice. <br />Mr. rademas: That is right. It is just the formulas that the Federal <br />friends have come up with that make it possible for us to really put up some <br />very expert equipment. Now my mother of course receives some social <br />security, and she is fortunate enough having taught for 52 years to receive <br />a teacher's pension. But today, even to try to spend $250.00 a month for <br />housing, which is probably what one would require or better, would hard press <br />her lo do that. At the same time, the way the program is set up the tenants <br />pay 5% of their income, and if their income is $500.00 a month, they are <br />goin to pay $125.00, and get what would otherwise be at the market of <br />$340.00 for a month's rent. <br />-19- <br />