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South Bend <br />Regular Mee <br />5. OLD BUS <br />There <br />6. NEV BUS <br />a. <br />elopment Commission <br />- September 25, 1987 <br />no old business. <br />Con ni.ssion approval requested for <br />ro sals and loans in connection with <br />the Rental Rehabilitation Program in <br />accordance with the recommendation from <br />the Bureau of Housing. <br />Contractor <br />Pau Hayden Paul Hayden <br />929 W. Washington <br />Jol ne Newton Townsend Construction <br />915, W. LaSalle <br />Jos ph MacHatton J.M.A. Properties <br />112 -1130 Lincolnway West <br />Mr. Hunt noted that the Rental Rehab <br />Pr ram is based upon a 10 year, no <br />int rest loan where loo is forgiven each <br />year if the owner continues to meet the <br />conditions, renting to low and moderate <br />inc me individuals /families. <br />Ms. Baumgartner noted that, although the <br />cost of rehabilitating the property at <br />929 W. Washington seems high, Paul Hayden <br />doe a beautiful job of renovating any <br />bui ding he does. He does most of the <br />work himself. Since his only income is <br />through his contracting, a waiver was <br />gr ted to allow him to be paid for his <br />se ices through the private loan. <br />Ms. Schwartz asked if there were any <br />guidelines in a historic district on a <br />non rated home. Ms. Baumgartner <br />indicated that there were none. Historic <br />Preservation must be contacted if there <br />is a rating of 12 or higher. Mr. <br />Hav en's home is rated less than 9. <br />Mr. Piasecki asked what the conditions <br />are under the Rental Rehab Program if <br />the e is only one unit. Does it have to <br />THERE WAS NO OLD BUSINESS <br />1 Loan <br />$ 31,425.00 $ 8,700.00 (Public) <br />$23,870.00 (Private) <br />$ 4,319.00 $ 2,275.00 (Public) <br />$ 2,275.00 (Private) <br />$ 34,404.30 $17,400.00 (Public) <br />$18,240.00 (Private) <br />