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South Bend <br />Regular Mee <br />6. NEW BUS <br />b. Com <br />edevelopment Commission <br />ing - March 27, 1987 <br />(Cont.) <br />fission approval requested for a <br />osal in connection with the <br />Homestead/South Bend Home Im roveme: <br />Loan Program in accordance with the <br />recommendation from the Bureau of <br />Hou ina. <br />tractor <br />Proposal <br />Aland T. Donaldson Breedlove & Bare Heating, A/C $ 1,491.00 <br />11221 Portage Avenue <br />Mr. Hunt noted that this is a private <br />loan, guaranteed by Community Development <br />funds, and the Commission is being asked <br />to approve the proposal. <br />Ms. Baumgartner noted the discrepancy <br />between the Bureau of Housing estimate of <br />$2,480 and the proposal of $1,491. The <br />Bureau of Housing expects to lower their <br />estimates to bring them in line with <br />rece t costs. <br />Upon a motion by Mr. Donoho, seconded by <br />Mr. ombs and unanimously carried, the <br />Commission approved the proposal in <br />connection with the Homestead /South Bend <br />Home Improvement Loan Program as listed <br />above. <br />C. Commission approval requested for a <br />propDsal and grant in connection with the <br />Section 312 Loan Program in accordance <br />with the recommendation from the Bureau <br />of Hbusina. <br />Name <br />Contractor <br />COMMISSION APPROVED A PROPOSAL <br />IN "CONNECTION WITH THE HOMESTEAD/ <br />SOUTH BEND HOME IMPROVEMENT LOAN <br />PROGRAM <br />al Loan <br />Gina M. Wright Townsend Construction Co. $ 19,646.00 <br />1225 Van Buren <br />Mr. Hunt noted that the loan will be for <br />20 years at 30. Mrs. Baumgartner noted <br />that this is the first Section 312 loan <br />approved this year. The initial 1987 <br />allocation for Section 312 loans was <br />$75, 00. There is an additional $600,00 <br />avai able through the state for <br />-4- <br />$21,250.00 <br />