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South Ben4 Redevelopment Commission <br />Regular M eting - June 6, 1980 <br />6. NEW <br />a. Suction 312 loan bid contracts (continued) <br />. Baumgartner continues.... <br />However, Ms. Dixon cannot afford the amount <br />of that loan in terms of her refinancing. <br />Therefore, we have negotiated the <br />lowest bidder down to $11,893.00 -- cutting <br />items that were not code related. Therefore, <br />Jw ask your approval for Mr. Charles Brown <br />i the amount of $11,893.00. <br />. Robinson: Is there going to be any added <br />sponsibility upon the Commission other than <br />F.t you have just explained now - - -in other <br />rds, is the Commission going to be held <br />3pons ib le any more than what we were in <br />past? <br />. Cira: What type of follow -ups do you have <br />ce the job is completed? <br />. Baumgartner: We follow up to check on <br />gress, and the substandard inspector does <br />final inspection; we then have a 60 -day <br />tract. <br />. Donaldson: All this is done before they <br />e paid? <br />s. Baumgartner: No. This occurs 60 -days <br />a ter the job is done. <br />. Robinson: How much is set back in escrow? <br />. Baumgartner: One percent. We hold ten <br />gent as a performance bond. After the <br />is completed, then we hold back one percent. <br />3e protections were not in the program <br />Uiously, and we think it is to our <br />mtage to have this. <br />Ellison: Mrs. Baumgartner, are we <br />ding these contracts, or are we <br />mmending that they be awarded? <br />M s. Baumgartner: I think the contracts <br />a e being awarded, pending legal counsel <br />-review, and South Bend Common Council <br />a royal. <br />3 <br />