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South Bend Redevelopment Cm nission <br />Regular Meeting - February 25, 1983 <br />6. NEW BUSINESS (Continued) <br />b. Continued... <br />Name Address Loan Amount <br />Nannie Smith 1137 W. Jefferson $11,800 <br />Priscil a Dill 714 W. Washington $19,400 <br />Mr. Hunt explained that there are two rehabili- <br />tation loans up before the Commission today. <br />The first one is for Smith, it's a 10 year loan <br />at o interest with a .payment of $98.33 a month. <br />The loan total will be for $11,800 and it's for <br />a p operty located at 1137 W. Jefferson. The <br />aft r rehab value of the property will be $16,000. <br />The second loan is for Priscilla Dill. It's a 0% <br />interest loan and is a deferred balance loan for <br />a property at 714 W. Washington. The loan amount <br />would be in the amount of $19,400 with a $10.00 <br />a month payment. When the house changes owner- <br />shio we will receive payment in full. The after <br />re value of the property is $32,000. <br />Mr. Piasecki questioned the income on Nannie <br />Smith, a portion of which is a Housing Allow- <br />ance payment. He asked how this will affect <br />the payment plan. He also asked what type of <br />apartment she has. <br />Mrs�Kolata stated that she has a roomer.and didn't <br />thi it was a separate apartment. <br />Mr. Piasecki also asked why there weren't smoke <br />ala in the specifications. <br />Mr. Hunt explained that the specs were written <br />before the Commission took final action and would <br />recoamend that we put thEm in. <br />Mr. Nimtz asked if there was any objection to the <br />C ssion requesting the smoke alarms be included. <br />Hearing none, the Bureau of Housing was asked to <br />include smoke alarms. <br />Mr. Piasecki questioned the wide range of bids on <br />the Dill property. <br />Mrs Kolata stated that the advisory board also <br />que tioned the wide range on the bids on this <br />-4- <br />