Laserfiche WebLink
South Bend edevelopment Commission <br />Regular Mee ring - December 21, 1979 <br />6. NEW <br />a. (continued) ... <br />Mr. Cira: What kind of payments are you <br />ex cting them to make on that $11,000? Will <br />it e paid over a period of ten years or twenty <br />Yea s? <br />Mr. Wilson: Under our loan program we are able <br />to adjust the term and interest rates, so it will <br />not be a hardship for the person who would assume <br />the loan. <br />Mr. Nimtz: I might mention to the Commission that <br />one of the criticisms that HUD has had and that the <br />Department of Redevelopment has had about Southold <br />Heritage, Inc. and their loans in the West Washington <br />Area is that the area has come back so much that the <br />people who are asking for the loans are not of the <br />lower-economic strata. That they are not really <br />lower income people, but that they are middle <br />income people. This is one of the criticisms <br />tha HUD has, that the area has jumped ahead so <br />fast that the people are not lower income people. <br />Mr. Ellison: I would like to point out that I <br />haven't made any comments on this matter because I <br />represent the City on the Board of NHS and am the <br />org ization's Treasurer. <br />Mr. Robinson: Who performs the work in renovating <br />this property? <br />Mr. Wilson: We intend to contract it out. <br />Mr. Robinson: Does this new organization realize <br />whe their money comes out of this Commission, that <br />the e is a prevailing wage rate which must be <br />co lied with? <br />Mr.lWilson: Yes, we do realize this. <br />Mr. Robinson made a motion to approve a non - profit <br />grant in the amount of $8,000 to Neighborhood <br />Housing Services of South Bend, Inc. (NHS), a not- <br />for-profit organization for the rehabilitation <br />of property located at 740 N. Blaine, seconded <br />by Mr. Donaldson, and the motion was unanimously <br />car ied. <br />-7- <br />