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South Bend <br />Regular Mee <br />6. NEW BUS <br />a. Con <br />elopment Commission <br />- July 12, 1985 <br />(Cont.) <br />to over the amount of the repair over the <br />$2, 00 emergency repair limit. <br />Upo a motion made by Mr. Combs, seconded by <br />Mr. Donoho and unanimously carried, the <br />Comnission approved proposals and grants in <br />connection with the Emergency Repair Program <br />in accordance with the recommendations from <br />the Bureau of Housing as listed above. <br />b. Commission approval requested for proposals <br />and grants in connection with the Affordable <br />Loan Program in accordance with the <br />recommendation with the Bureau of Housing. <br />Name Contractor Pro <br />Ros e Stoner <br />834 E. Sorin Street <br />Fr e Brick & <br />Josephine Middleton <br />216 E. Keasey Street <br />COMMISSION APPROVED PROPOSALS <br />AND GRANTS IN CONNECTION <br />WITH THE EMERGENCY REPAIR <br />PROGRAM AS LISTED ABOVE <br />Sal Loan <br />Plaia Const. $13,437.00 <br />Hanks Enterprise $26,473.00 <br />$10,550.00 <br />$13,750.00 <br />Upom a motion made by Mr. Donoho, seconded by COMMISSION APPROVED PROPOSALS <br />Mr. Combs and unanimously carried, the AND LOANS IN CONNECTION WITH <br />Comaission approved proposals and grants in THE AFFORDABLE LOAN PROGRAM <br />coniection with the Affordable Loan Program in AS LISTED ABOVE <br />accordance with the recommendation from the <br />Bur au of Housing as listed above. <br />c. g29#jssion approval requested for a <br />S rdination Agreement with Tower Federal <br />ngs & Loan Association in connection with <br />Bureau of Housing Homesteading Program. <br />Mr. Hunt explained that this Subordination <br />Agreement involves a Redevelopment Department <br />employee, Fines Mosby, who was a successful <br />Homesteader winner. Due to State and HUD <br />conflict of interest requirements, Ms. Mosby <br />is imable to take advantage of some of the <br />Bureau of Housing rehab programs. Ms. Mosby <br />therefore had to secure private financing for <br />the rehabilitation of her- Homestead. The <br />financing institution requested that a <br />Subordination Agreement be secured in order to <br />enable the lender to obtain first position on <br />a mortgage on the property. The Commission <br />holds title to the property for a period of <br />-4- <br />