Laserfiche WebLink
South Bend Commission <br />Regular Mee�edevelopment <br />ing - November 16, 1979 <br />7. PROG <br />M <br />REPORTS <br />. Glenda R. Hernandez continues.... <br />a Mtus. Hernandez: Subject: Request 6o& Ctatr i 4 cation o J <br />Ups o6 Section 108 Loan Funds B- 79 -MC-18 -0011 <br />tettet is in tte1spontse to yowt inqui ty o6 Juty 30, 1979, <br />vtdfng the above subject. <br />Section 108 a�) the Housing and Community Deve.2opment Act o4 <br />1974J. as amended in 1977, ptovidess that mettopoP,ctan cWe�s <br />(such as South Bend and Ind.ia:napoZbs) arse P- Ugibte to apply <br />PA :loan guatanteels The aovettwing tteguZat i.ona 4on the <br />Section 108 Loan Guatantee Pttog&am ate pttov.ided as Section <br />570.700 to 570.705 in the Janucty 18, 1978 Federcae Re. iztm <br />Lon guarantee assistance may onty be used 4on the Jottowing <br />thAee punpozes, which ate set 4oAth at Section 570.701: <br />1. <br />2. <br />3. <br />ho <br />Us <br />Th <br />in <br />Acquisition o4 teat prtopexty (wheAe acquisition is othe%- <br />wuse e.P,igibte 4ot b.tock grant cus/sistance); <br />RehabiZ tation o4 pubticty owned ott acqu>vted tteaZ pno- <br />petrty (where such Aeha )—AZct at i on is otherwis e e2,i.gibte <br />4ot bZoch g&ant assistance); and <br />Payment o4 ketated expenses o4 .intetest, demotition, tte- <br />tocation, and site -i.mpttovements . <br />City o4 Indianapo.P 6 is ut-i iz.ing Section 108 4unds in a <br />>ing 4evotv.ing 4und. The City uses this 4und to aequi to <br />nehab,ititate ptopettties, and then to subsequentey ttessate <br />n. Ptea6e be advised that Section 108 4unds may not be <br />1 to 6.inanee ttehab.%P.itation o4 ptoi.vatety owned ptopett iez . <br />existence o4 the Expekimentat ousing Attowance Pttogttam <br />>outh Bend has no destelrmin.ing e44ect on the type o f ttehabi <br />ztdon which may be undertaken with Section 108 6unds. As <br />t.ioeusty stated, there ate governing tegulattions eoneexn- <br />e.Ptig.ibte activities. <br />14 we may be o4 AuAthek assistance to you, ptea6e 4ee.b 4ttee <br />to contact the CPD Repnessentat.ive 4ott youA area, Eteanot <br />G nget, at 317 -269 -6218. Sincettety, Howard L. Campbe.U, <br />A,tca Managmac.. <br />Mr. Nimtz: Thank You. <br />Mrs. Hernandez: Just one other comment. In your October <br />5t meeting, I was under the impression that the two apprai <br />sets that you hired were to go through the area and give <br />a eneral appraisal, but what seems to be happening is that <br />pe ple are getting letters indicating intent to purchase, <br />-44- <br />