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SM 08-22-80
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SM 08-22-80
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11/5/2012 4:08:10 PM
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South Beni. Redevelopment Commission <br />Special eting August 22, 1980 <br />6. NEW BUSINESS <br />b. continued.... (Mrs. Baumgartner continues).... <br />ey have a 16th of September <br />d adline which means that loans <br />could present on the 5th of <br />S ptember could not go to <br />Indianapolis without any type of <br />arrangement being made. What we <br />n ed is some alternate plan for <br />a proval where we can take the <br />1 ans to Indianapolis on the <br />13th or 16th of September. <br />Mr. Ellison: The problem is that <br />wa have a 312 loan target and HUD <br />only allocates 312 loan dollars for <br />fiscal years. You receive so much <br />m ney and you either use it or you <br />d nit. You don't get to carry it <br />oLrer from one year to the next. <br />Die criterion in how much money <br />y u receive is performance. <br />Mr. Nimtz: We have been receiving <br />m ney that other cities have not <br />b aen using. <br />Mr. Ellison: That is correct. Each <br />y ar toward the end of the fiscal year <br />w have always had a rash of loans <br />ia part because some people will wait <br />til the end of summer to start work. <br />In other instances the Bureau just <br />gears itself to produce every conceivable <br />loan toward the end of the fiscal year. <br />ere is a need for some kind of <br />m chanism or for a special meeting <br />t allow us to process additional <br />loans which should be coming forth. <br />you have any idea what kind of <br />v lame you might have Mrs. Baumgartner? <br />Baumgartner: I would say that <br />would have approximately a dozen <br />dica.tions. <br />Nimtz: What I would suggest is that <br />meet on the 5th to get back on <br />ular schedule, and that we publish the <br />wired notice for a special meeting on <br />15th of September and then if it isn't <br />essary we could cancel the meeting. <br />Fl <br />
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