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South BE <br />Regular <br />6. NEW <br />0, <br />C. <br />end <br />Redevelopment Commission <br />Meeting <br />- June 28, 1985 <br />BUSINESS <br />(Continued) <br />approval requested for a contract <br />Comnission <br />With <br />Denisa Lynk, 813 S. Meade, in the amoun <br />of <br />$200.00 in connection with the <br />stead /Section 312 Loan Pr ram in <br />H <br />accordance <br />with the recommendation from the <br />Bureau <br />of Housing. <br />Hunt explained that the property in <br />Mr. <br />question <br />is a Homestead unit that involves a <br />Section <br />312 loan previously approved by the <br />ComrLission. <br />In connection with the 312 loan <br />there <br />was some extra work to be done by the <br />Homesteader, <br />Denisa Lynk. Ms. Lynk requeste <br />to <br />take on the responsibility of completing <br />required <br />painting herself. This contract <br />formalizes <br />that the Commission is paying for <br />the <br />paint and requires Ms. Lynk to meet <br />certain <br />performance standards required of al <br />Bureau <br />of Housing contractors. <br />Upon <br />a motion made by Ms. Auburn, seconded b. <br />Mr. <br />Combs and unanimously carried, the <br />ComrLission <br />approved a contract with Denisa <br />Ly <br />, 813 S. Meade, in the amount of $200.00 <br />in <br />connection with the Homestead /Section 312 <br />Loai <br />i Program. <br />Corriiission <br />a roval requested for Resolution <br />No. <br />743 approving an application for real <br />property <br />tax deduction. <br />Hedy Robinson gave the staff report <br />Ms. <br />relating <br />to the application for real propert, <br />tax <br />deduction for the Old South Bend Lathe <br />Works <br />project of Mr. T. Brooks Brademas. It <br />will <br />be a mixed use project staged over a <br />period <br />of five years. The proposed project <br />involves <br />a number of historically significan <br />stnictures <br />containing 275,000 square feet on <br />approximately <br />five acres. The property is ti <br />be <br />redeveloped to include multi - family renta <br />and <br />sales housing, restaurants, a motel, <br />speciality <br />shops, a marina and offices. The <br />total <br />project is estimated to cost <br />$10,000,000. <br />The project will create 750 nei <br />permanent <br />full -time jobs, representing a new <br />annual <br />payroll of $9,000,000 and will marnta: <br />150 <br />existing permanent full -time and 50 <br />existing <br />permanent part -time jobs with an <br />annual <br />payroll of $2,500,000. <br />-4- <br />in <br />COMMISSION APPROVED A <br />CONTRACT WITH DENISA LYNK, <br />813 S. MEADE, IN THE AMOUNT <br />OF $200.00 IN CONNECTION <br />WITH THE HOMESTEAD /SECTION <br />312 LOAN PROGRAM <br />