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RM 12-05-80
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RM 12-05-80
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South Bend Redevelopment Commission <br />Regular Meetng - December 5, 1980 <br />6. NEW BUSINESS <br />g. contfinued... <br />Mrs. Baumgartner: No it is not. These are 312 <br />Loan balances. <br />Mr. obinson: How many more clean -up programs are <br />you oing to have? <br />Mr. ira: It depends on how many mistakes they <br />find <br />Mr. McMahon; This isn't a mistake. <br />Mrs. Baumgartner: No, this isn't a mistake. This <br />is p ogle who had extra money in their account. <br />MIS. uburn: This is actually to our benefit. <br />Mr. iimtz: These people had a loan balance in their <br />acco nts and, as I understand it, they were asked to <br />eith r send the money back or put it on the house. <br />Some of them sent the money back to HUD, others are <br />sayi g they need storm windows, floor covering, etc. <br />Isn' that right? <br />F'irs.lBaumgartner That is correct. <br />iris. uburn: Actually we are getting more home im- <br />prov ments for our dollar than we originally thought <br />we w re going to get, so we are better off. <br />Mr. 1cMahon: In light of the fact that it is the <br />home wner's money, in essence. <br />Mr. ira: I have no gripes about that, I just don't <br />like the idea of getting only one bid. <br />Mr. imtz: I understand that. They still have to <br />repa the loan. <br />Mrs. Baumgartner: Right. They have been, in these <br />cases, repaying this loan for one to three years. <br />Mr: <br />bit <br />go 0 <br />of o <br />Robinson: I understand what you are saying, <br />t is going to cost more for the people here to <br />t and get it rebid. It`s going to cost more <br />r dollars. <br />16 <br />
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