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South Bend redevelopment Commission <br />Rescheduled Regular Meeting, August 28, 1981 <br />7. NEW BUSINESS (continued) <br />i. Commission approval requested for an amendment to the <br />Relocation Policy Statement for'the Monroe =Sam le <br />Dev lopment Area. <br />Mr. McMahon explained that this is an amendment that <br />will effect relocation assistance to businesses. <br />Recently we adopted a policy whereby residential <br />property owners could utilize part of the replacement <br />housing payment, which has a maximum of $15,000.00, <br />to repair code violations associated with properties <br />that they were interested in. We would like to adopt <br />a similar policy for the business and commercial <br />establishments vie are working with. They do not re- <br />ceive anything like a replacement housing payment <br />now therefore we would like to establish that up to <br />$15 000 be made available to address code items. only. <br />It will be a 'benefit to the property owner and will <br />assist us in relocating businesses and commercial <br />establishments within the neighborhood or someplace <br />that is appropriate. Mr. McMahon further stated that <br />if the Commission would like to place some restrictions <br />int the policy, this would be their prerogative. <br />On it motion by Mr. Robinson, seconded by Mr. Donaldson AMENDMENT TO RELOCATION <br />and unanimously carried, the request for an amendment POLICY STATEMENT FOR THE <br />to the Relocation Policy Statement for the Monroe- MONROE- SAMPLE DEVELOPMENT <br />Sample Development Area was approved, provided that AREA WAS APPROVED <br />the relocation money is spent in South Bend <br />j Com <br />ext <br />Inc <br />ssion approval requested for Resolution No. 544 <br />guishing Demand Note obligation of FBT Bancorp, <br />n <br />nkCenter. <br />Mr. McMahon explained that the Commission went through <br />the same process a few months ago with the Marriott <br />Hotel. The Demand Note which FBT Bancorp, Inc. placed <br />on file with us committed them to go ahead with the <br />pro ect and to meet certain requirements with respect <br />to pecific guarantees. The necessary documentation <br />has been filed and we are in a position to release this <br />Dem nd Note. This resolution, if approved by the.Com- <br />mis ion, will extinquish that demand note previously <br />fil d. <br />On it motion by Ms. Auburn, seconded by Mr. Robinson: RESOLUTION NO. 544, EXTIN- <br />and unanimously carried, the request for Resolution GUISHING DEMAND NOTE OBLI- <br />No. 644, extinguishing Demand Note obligations of GATIONS OF FBT BANCORP, <br />FBT Bancorp, Inc. was approved. INC. WAS APPROVED <br />14 <br />