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South BendlRedevelopment Commission <br />Regular Me ting - .November 16, 1979 <br />5. OLD BUSINESS <br />Mr. Ellison: There is no old business except for the Odd <br />Fellow Building, which will be the first of progress reports. <br />6. NEW BU$INESS. <br />a. Commission approval requested <br />taqe Fo <br />organization <br />dvisory Board "A" for <br />amount of $8,000.00 <br />on, Inc., a not -for- <br />litation of the follow- <br />properties: <br />Property Bureau of Housing Estimated Cost <br />1313 Liston $16,971.31 <br />1317 Liston 11,234.62 <br />1319 Liston 8,206.39 <br />1325 Liston 9,436.23 <br />Mr Harcus: I think Southold Heritage Foundation should <br />be commended for the unique manner in which they are try- <br />ing to process these homes and make them available to <br />low and moderate income people of the City of South Bend. <br />First of all, having FHA approve the properties and <br />ap raise them at the rehabilitated value. With that <br />fi ure, they are asking the mortgage company to state <br />fi ures at the market value after rehabilitation and <br />en er an agreement to provide mortgages at those figures <br />of er rehabilitation to eligible low and moderate income <br />pe ple. This is a unique manner of block impact and <br />should be highly recommended. Of course, anything above <br />th $8,000.00 as noted in my letter of November 14, will <br />be financed by Southold Heritage Foundation. The re- <br />qu st for approval of these grants is based upon them <br />sh wing evidence of title. <br />Mr Nimtz: Being President, also of Southold Heritage <br />Foundation, Inc. disqualifies himself and places Mr. <br />Lloyd Robinson, Vice President in the Chair. <br />Mr. Robinson: I'd like to ask a question of you Mr. <br />Ha cus or Carl. Is there any other Commission or Council <br />or anyone involved in this decision about these loans, <br />otter than the Redevelopment Commission? <br />Mr Ellison: Non- profit group grants (correct me if <br />I' wrong, Jim) are not subject to approval by the Common <br />Co ncil <br />Mr.1 Cira: Isn't it unusual to have four houses in the <br />sa a block? <br />-9- <br />NO OLD BUSINESS <br />PRESENTED <br />COMMISSION APPROVAL <br />FOR REHABILITATION <br />OF FOUR PROPERTIES <br />FOR SOUTHOLD HERI- <br />TAGE FOUNDATION, <br />INC. <br />