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South Bendedevelopment Commission <br />Rescheduled Regular Meeting - September 30, 1985 <br />3. <br />Q <br />OF CLAIMS (Cont.) <br />Indiana Business Magazine <br />R.E. Mc loskey & Associates <br />St. Joseph Bankcard Division <br />Federal Financial Institutions <br />Self-Funded Employee Benefit Prog. <br />Payroll: 8 -17 thru 8 -30 -85 <br />Payroll: 8 -31 thru 9 -13 -85 <br />FICA Tak Deduction Fund <br />Total <br />Grand Total <br />22.05 <br />3,400.00 <br />170.89 <br />125.00 <br />1,136.86 <br />12,786.43 <br />12,053.73 <br />1,691.69 <br />$41,360.04 <br />$83,622.99 <br />Mr. Ni *z noted that there will be three <br />additio s to the agenda. <br />There wore no communications. <br />5. OLD <br />THERE WERE NO COMMUNICATIONS <br />a. Comnission a royal requested for bids and <br />loans in connection with the Rental Rehab Loan <br />Pr ram for property located at 606 W. Colfax <br />and 608 -610 W. Colfax in accordance with the <br />recimmndation from the Bureau of Housing. <br />Mrs Kolata explained that this is the first <br />loan submitted under the federal Rental Rehab <br />Pr ram. Both properties are owned by Roland <br />W. and Angie Chamblee. Each property has four <br />rem al units. The Commission is being asked <br />to approve a federal Rental Rehab loan, <br />app ove a local Community Development Rental <br />Rehib loan, and award a rehab contract for <br />eacb of these properties. <br />The first property located at 608 -610 W. <br />Colfax is proposed to have a 50% federal <br />Ren 1 Rehab loan in the amount of $8,700.00, <br />forgiven over a ten year period. The <br />Co unity Development Rental Rehab loan would <br />be or 25% in the amount of $4,350.00 at 3% <br />for ten years. Mr. Chamblee is bringing in <br />private financing in the amount of $4,350.00 <br />for a total project cost of $17,400.00. There <br />were two bids received for the work and the <br />-3- <br />