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South Bend edevelopment Commission <br />Regular Mee ing - February 25, 1983 <br />6. NEW BUS$NESS (Continued) <br />d. Continued... <br />for the loan, agreeing to inspect the home <br />yearly, and, if there are repairs that are <br />needed, Southold will be responsible for <br />seeing that they are done and obtaining fin- <br />ancing for those repairs whatever they happen <br />to be. <br />Ms. Schwartz said that she wanted to repeat <br />what. Ms. Holston said when she was presenting <br />the loan originally, that although the major <br />portion of the loan is a payment that is de- <br />ferred for some time, we are requiring a ncm7- <br />inal. monthly payment from the homeowner as <br />part of the loan agreement. So it's that, <br />and it's also the provision in the mainten- <br />ance agreement, that if all else fails, South- <br />old will help relocate Mrs. Dill if and when <br />she want to or needs to relocate. At that <br />tim , of course, the loan will become fully <br />due and the City will get paid back at that <br />Doi t. <br />Mr.lDonaldson asked who approached her at <br />Southold. <br />Mrs Kolata stated that she approached the <br />Bur au of Housing under the old grant program <br />but the repairs were more than the grant pro- <br />gram could allow and then we phased out the <br />grant program. When it came to looking at a <br />loan she didn't qualify under the guidelines <br />as they were written. At that point Southold <br />app oached us and we started looking at ways <br />we nticrht be able to assist her. <br />Upon a motion made by Ms. Auburn, seconded by <br />Mr. Piasecki and unanimously carried, the main- <br />tenance agreement with Southold Heritage Foun- <br />dation, Inc., and Priscilla Dill was approved. <br />Mr. Nimtz did not vote on this matter. <br />Mr . I Nimtz resumed the chair. <br />e. Discussion of acquisition of Parcels 1 -1 and <br />of 1 -10 in the East Bank Development Area. <br />Mrs Kolata explained that the first parcel is <br />the north part of the East Race itself and the <br />other one is a portion of a parcel adjacent to <br />the Race. We have gone to condemnation and have <br />a deed to the property, but as it has gone <br />through the court process the previous owners <br />-13- <br />MOTION WAS MADE TO APPROVE <br />THE MAINTENANCE AGREEMENT <br />WITH SOUTHOLD HERITAGE <br />FOUNDATION, INC., AND <br />PRISCILLA DILL, 714 W. <br />WASHINGTON <br />