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South Bend <br />Regular Me <br />6. NEW BU <br />b. Co <br />elopment Commission <br />- October 12, 1984 <br />(Cont.) <br />It as noted for disclosure purposes that <br />Fin s V. Mosby is a city employee. She is a <br />secretary for the Department of Economic <br />Dev lopment. <br />Upo a motion made by Mr. Donoho, seconded by COMMISSION APPROVED <br />Mr. Donaldson and unanimously carried, the HOMESTEADING AGREEMENTS <br />Comnission approved Homesteading Agreements AS LISTED ABOVE <br />for Essie M. Jackson, 116 E. Dayton; Angela L. <br />Redding, 808 E. Dayton; Wilma J. Cephus, 3619 <br />W. Ord; Beverlyn Aikens, 713 S. Kaley; Nancy <br />K. teward, 2426 Poland; Armando and Maria <br />R iguez, 228 S. Sheridan; and Fines V. <br />Mos v, 510 S. Sheridan. <br />c. Comnission approval requested for new Rental <br />Rehab Guidelines. <br />Mr. Hunt explained that the Bureau has run a <br />Ren al Rehab Demonstration Program for three <br />years. HUD has now instituted a permanent <br />pr ram for Rental Rehab. South Bend will be <br />receiving $81,000 to implement the new Rental <br />Rehab Program. In accordance with the new <br />pr ram there are new guidelines. <br />Ms. Holston explained the differences between <br />the old and new programs. The target areas <br />differ because of the percentage of rental <br />pro rties in each area. Duplexes that are <br />50% residential rental are now eligible <br />properties. At least 70% of the occupied <br />units must house lower income tenants at the <br />ti of application and after rehab 70% of the <br />totil residential rehab units must be lower <br />income tenants. The property must have code <br />vio ations existing. The limit is $5,000 or <br />50% per unit. Properties with less than $600 <br />per unit of rehab costs will not be eligible <br />for the program. The financing will be a <br />deferred loan at 0% interest. The property <br />must be kept up to code, cannot be converted <br />to ondominium use, and there must be no <br />dis rimination against tenants. <br />Upon a motion made by Mr. Piasecki, seconded COMMISSION APPROVED NEW <br />by 14s. Auburn and unanimously carried, the RENTAL REHAB GUIDELINES <br />Comnission approved new Rental Rehab <br />Guidelines. <br />-5- <br />