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South Bend Redevelopment Commission <br />Special Me ting - February 2, 1981 <br />6. NEW BUSIINESS <br />c., d., <br />e., f., continued... <br />COMMISSION APPROVED <br />"AGREEMENTS FOR PRO - <br />Mr. <br />Robinson made a motion <br />to approve Agreements <br />FESSIONAL SERVICES" <br />for <br />Professional Services <br />with Dillman, Powers, <br />FOR APPRAISAL WORK <br />McCloskey, <br />Michaels, Pence <br />and Lauver. The <br />IN THE MONROE- SAMPLE <br />mo <br />ion was seconded by Ms. <br />Auburn and Unanimously <br />AREA <br />ca <br />ried. <br />g. Commission approval requested for Subordination <br />Aaaeement for Homesteading Property. <br />Mrs. Kolata: This item was presented to us by the <br />Bureau of Housing. The individual mentioned in <br />this agreement has a homesteading property and he <br />has gone for a home improvement loan at Mortgage <br />Associates. In order to get the loan they need to <br />put a mortgage on the property. As you know, on <br />homesteading property the City holds title for three <br />(3) years until after the person has taken possession <br />of the house, and this agreement subordinates the <br />interest of the City to that of Mortgage Associates <br />for the term of the loan. This is not any different <br />than what we do if the person has a 312 Loan. In <br />those cases the City's interest is subordinated to <br />thE 312 Loan. We have had a request from the City <br />At orney's office that we approve this. Kevin Butler <br />ha reviewed tit last week. <br />Mr. Nimtz: Does this have to go to the Common <br />Council? <br />Mrs. Kolata: No, I don't think so. <br />Mr. Nimtz: Do I hear a motion for the approval of <br />thE Subordination Agreement with Thomas E. Lewis? <br />COMMISSION APPROVED <br />Ms. Auburn made a motion to approve the Subordina- SUBORDINATION AGREE - <br />ti n Agreement with Thomas E. Lewis. The motion MENT FOR HOMESTEADING <br />wa seconded by Mr. Robinson and unanimously carried. PROPERTY <br />Mr. Nir <br />and ga) <br />I under <br />Kolata <br />Counci'. <br />back hE <br />after i <br />would <br />tz: Mrs. Hernandez, in your absence we went ahead <br />e preliminary approval to the Monroe- Sample Plan. <br />stand you were present at the meeting with Mrs. <br />and talked this over. It now goes to the City <br />and the Area Plan Commission before it comes <br />re for reconfirmation and so on. Basically, <br />aving seen the plan, are there any comments you <br />ike to make at this time? <br />7 <br />