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South Bend edevelopment Commission <br />Regular Mee ing - February 25, 1983 <br />6. NEW BUS�NESS (Continued) <br />d. Ccmiission approval requested for a Main - <br />ten nce Agreement with Southold Heritage <br />Foundation, Inc., and Priscilla Dill. <br />Mr. Hunt explained that this is a unique agree- <br />ment, and is a positive sign of a neighborhood <br />group wanting to keep a person in the neighbor- <br />hood who has been a good, long time resident <br />and recognizing the realities of a large home <br />with a major amount of rehabilitation to be <br />done on it. Recognizing that the City would <br />require additional security and assurance <br />that the home would be maintained, Southold <br />Heritage has came forward, along with an in- <br />dividual person who will co -sign for the loan, <br />and a neighborhood group who has done some <br />work for her, to insure that the house, once <br />it's repaired, would be maintained in a proper <br />Mr. Nimtz being a member of the Board of South- <br />old Heritage, disqualified himself and placed <br />ConTiissioner Robinson as Vice- Chairman in the <br />Mrs Kolata explained that this agreement calls <br />for yearly inspections and these inspections <br />would take place as long as the loan is out and <br />we Are receiving payments. It's a deferred pay- <br />ment loan and, as long as the woman is living <br />in the house and owns the property, 'these yearly <br />inspections will take place. Once the loan is <br />paid off, this agreement would be ended and we <br />would no longer require inspections. This <br />agr ement is necessary because of Mrs. Dill's <br />limited resources and her inability to pay <br />for home maintenance. Southold felt strongly <br />that. this was a woman that they wanted to keep <br />in he neighborhood. Mrs. Kolata stated that <br />she thinks we would expect similar types of <br />agr ements with other groups if there was a <br />Der on in a similar situation. <br />Mr. Piasecki asked if Southold had any plans <br />to acquire this property. <br />Mrs Kolata explained that Southold does not <br />have any plans to acquire the house. They felt <br />very strongly that this was a woman that they <br />wanted to keep in the neighborhood and that they, <br />as an organization, would be willing to take <br />some special steps including'finding a co= signer <br />-12- <br />