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South BendlRedevelopment Commission <br />Regular Me ting - October 17, 1980 <br />6. NEW BUSINESS <br />c. Mr.1 Hill continues... <br />$12,500. The profit that is made on this (Renew <br />paid cash for it at $8,500) will be program in <br />cone and will be kept in a special account as the <br />Co e of Federal Regulation requires. <br />Mr.1 Butler: What are those monies then used for? <br />Mr. Hill: They are used for the same purpose as the <br />grant - whatever the line items are in the grant. <br />Thy have to be kept separate from the general funds <br />that we use. <br />Mr. Butler: You can use those monies to purchase <br />an ther property? <br />Mr. Hill: We are able to use those funds to purchase <br />other houses. <br />Mr. Butler: And also to renovate? <br />Mr. Hill-.' That is right. <br />Mr. Nimtz: To refresh the Commission's memory, this <br />is the first time Renew has been before us for a num- <br />ber of months. Their record with us is excellent in <br />the restoration business. You have done some work on <br />Jefferson Street, haven't you? <br />Mr.1 Hill: That is right. <br />Mr. Cira made a motion that the request for a rehabili <br />tation grant in the amount of $9,924 to Renew, Inc. <br />for repairs and improvements on a house located at 535 COMMISSION APPROVAL <br />East Dubail. Mr. Donaldson seconded the motion and it OF NON- PROFIT GROUP <br />was unanimously carried. GRANT TO RENEW, INC. <br />d. Co fission approval requested for awarding of contracts <br />in connection with the HUD Audit Clean-Up Activity Pro - <br />gra , in accordance with recommendation of the Bureau <br />of Housina. <br />Mr. McMahon, I believe that all Members of the Com- <br />mis ion are familiar with the program. It is in <br />ord r to correct code items from the 312 Program <br />18 <br />