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South Bend <br />Reschedule <br />6. NEW BU <br />h. Co <br />i. <br />lopment Commission <br />r Meeting - December 21, 1985 <br />(Cont.) <br />Upon a motion made by Mr. Piasecki, seconded <br />by Mr. Donoho and unanimously carried, the <br />Commission approved proposals and grants in <br />connection with the Emergency Repair Program <br />as listed above. <br />and (loans in <br />1 requested for <br />ction with the <br />nd Home Improve <br />am in accordance with the <br />the Bureau of Housing. <br />S <br />Loan <br />ndation <br />Contractor <br />RoSEmary Granger K &C Enterprises, Inc. <br />921 N. Diamond <br />Beatrice Causey K &C Enterprises, Inc. <br />516 N. College <br />Den�sa Lynk V.V. Engle Construction <br />8131S. Meade <br />Mr. Hunt noted that the money being loaned in <br />coruiection with the South Bend Home <br />Improvement Loan Program involve private <br />se or dollars from a bank consortium. The <br />Pr ram involves Community Development dollars <br />that were placed in five banks in 1975. <br />$10),000 was placed in the banks, and the <br />ban-,s agreed to loan out $200,000 to higher <br />risK applicants for housing repairs. Since <br />1975 the leveraging ratio has gone up from <br />1-200 to 1 -800. Over $770,000 worth of loans <br />are on the books. This includes approximately <br />117 loans with only two defaults. This is the <br />Pr ram that the City received a National <br />Mer't Award from the Department of Housing and <br />Urb3n Development. Mr. Hunt also noted that <br />the Commission is approving only the proposals <br />not the loans as listed in the agenda. <br />Upon a motion made by Mr. Donoho, seconded by <br />Ms. Auburn and unanimously carried, the <br />Commission approved proposals in connection <br />with the Homestead /South Bend Home Improvement <br />Loap Program as listed above. <br />-13- <br />PROPOSALS AND GRANTS <br />IN CONNECTION WITH THE <br />EMERGENCY REPAIR PROGRAM <br />WERE APPROVED AS LISTED <br />ABOVE <br />Bid <br />$15,297.00 <br />$10,943.38 <br />$ 7,963.00 <br />PROPOSALS IN CONNECTION <br />WITH THE HOMESTEAD /SOUTH <br />BEND HOME IMPROVEMENT <br />LOAN PROGRAM WERE APPROVED <br />AS LIST ABOVE <br />