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South Bend <br />Regular Me <br />6. NEW BU <br />f . Co. <br />N <br />elopment Commission <br />- December 11, 1987 <br />( font. ) <br />Mr. Hunt stated that he didn't believe <br />that the problem was the City reducing <br />the supply of potential low income <br />housing. The problem is finding the <br />money to renovate enough units for the <br />low income populace. <br />Ms. Schwartz noted that she and other <br />attorneys have been impressed with the <br />degree of cooperation and compliance <br />received from the hone owners when they <br />are notified of early violations. That <br />carmot be quantified in a dollar figure, <br />but contributes significantly in terms of <br />saving the assessed value of inner city <br />hou inq stock. <br />from the Bureau of <br />Mr. Hunt noted that the Homesteading <br />Program is one way to address the problem <br />of vacant units. <br />Mr. Leverman, Project Director for the <br />Homesteading Program, and Judi Walton, <br />Client Specialist for the program, gave a <br />summary of the program for the twelve <br />years it has been in existence. A copy <br />of e summary is attached to these <br />Mr. Leverman noted that South Bend was <br />one of the first twenty -two cities to <br />test the program back in 1975. HUD <br />allocates approximately $100,000 each <br />year to the City to purchase vacant HUD <br />or VA owned properties. The purpose of <br />the program is to rehabilitate the <br />properties and put potential owners in <br />them. Applications for the program are <br />scr ened by the Homesteading Advisory <br />Board. A public drawing is held to <br />det r-dne the winner of each property. <br />They must then bring it up to code within <br />one year and occupy it for five years. <br />The program is very popular, with a <br />-12- <br />REPORT FROM THE BUREAU OF HOUSING <br />REGARDING THE HOMESTEAD PROGRAM <br />