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South Bend edevelopment Commission <br />Regular Meeting - March 25, 1988 <br />6. NEW BUSINESS (Cont.) <br />a. Continued... <br />Flo d and Judith Taylor <br />113E W. Napier <br />Francine Williams <br />540 N. Blaine <br />Richard and Tamara Stillson <br />1613 W. Indiana <br />Elizabeth Molnar <br />2020 Prairie <br />Mrs. Kolata noted that Mr. Taylor is an <br />empl yee of the City, but there is no conflict <br />of i terest because he works for a department <br />unre ated to the activities of this <br />det�a tment . <br />Ms. Baumgartner noted that the Taylor <br />application is the first to go through the <br />join West Washington area /Section 312 <br />Program. In this program, if the contractor's <br />estimate exceeds what the Bureau of Housing <br />can cover through the Section 312 Program, <br />there are other funds designated for the West <br />Washington- Chapin Street area which can fill <br />the ap. <br />Upon a motion by Mr. Combs, seconded by Mr. <br />Pias cki and unanimously carried, the <br />ComLssion approved the Section 312 loans <br />listed above. <br />b. C ssion approval requested for Resolution <br />No. <br />of <br />)ursement to the City <br />_tures made within the <br />bLua paxer uorri.aor Development Area. <br />Mrs. Kolata noted that one of the ways of <br />using tax incremental financing is to <br />re' urse the City for eligible expenditures <br />it makes in a tax incremental district. <br />During 1987, City funds were used to pay for <br />the 35,923 University of Michigan study of <br />the Studebaker Corridor. The T.I.F. account <br />-3- <br />Loan <br />$17,550.00 <br />$19,000.00 <br />$11,650.00 <br />$ 8,500.00 <br />COMMISSION APPROVED SECTION 312 <br />LOANS <br />