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South Bed Redevelopment Commission <br />Special Meeting - September 15, 1980 <br />3. OLD IUSINESS (continued) <br />a. Mr. Ellison: Do you expect that there <br />will be any danger of 312 loan payments <br />being made based on the fact that expenses <br />associated with the property could exceed <br />income if the occupancy levels are not main - <br />ained and if taxes have to be higher? <br />Mrs. Baumgartner: No. <br />Mr. Ellison: Do they meet the loan require- <br />ments based on the rehab value? From HUD's <br />standpoint will the value of the property <br />after rehab be suitable to meet HUD's <br />eauirements? <br />rs. Baumgartner: Yes. <br />r. Nimtz: As you recall they own other <br />feces of property in this neighborhood. <br />on't they Kathy? <br />rs. Baumgartner: Yes. <br />r. Robinson made a motion to approve <br />he 312 loan application of Oscar & <br />athryn Brookins of 701 W. LaSalle who <br />eauested a loan in the amount of $81,600.00, <br />econded by Ms. Auburn and the motion was <br />arried with Commission Nimtz abstaining. <br />4. NEW BUSINESS <br />a. Commission approval requested for the following <br />12 loan applications: <br />Name Amount Loan No. <br />Louise Decker $.6,000.00 18 /OMC- 0011/117/1 <br />907 Napier <br />South Bend,, IN <br />Ben & He y Robinson $21,000.00 18/H- 003 - 1/119/1 <br />910 B1a' e <br />South Be d, IN <br />Deborah Williams $1531200.00 18/H- 003 - 1/118/1 <br />601 N. Blaine <br />South Be d, IN <br />-4 <br />