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South Bend <br />Regular Me <br />6. NEW BU <br />e. <br />elopment Commission <br />- December 9, 1988 <br />(Cont.) <br />Northern Oak Homes Northern Oak <br />2351E. Fox Homes <br />908 <br />NHS <br />916 <br />NHS <br />920 <br />NHS <br />M <br />South Bend Ave. <br />NHS <br />South Bend Ave. <br />South Bend Ave. <br />9221South Bend Ave. <br />lul M <br />NHS <br />$19,535 <br />$39,879 <br />$25,453 <br />$24,952 <br />$25,797 <br />Upon a motion by Ms. Auburn, seconded by <br />Mr. Piasecki and unanimously carried, the <br />commission approved the proposal and loan <br />in connection with the Rental Rehab Loan <br />PrOqfrm for property located at 235 E. <br />Mr. Leverman noted that the proposals for <br />the properties located at 920 and 922 <br />South Bend Avenue have been revised <br />downward a total of $5,000. <br />Ms. Auburn asked if NHS has the staff <br />expertise to manage these rental <br />Properties. Mr. Leverman responded that <br />they currently manage other rental <br />properties and do have the expertise. <br />Ms. Auburn noted that the Board of <br />Directors letter from NHS mentions a <br />First Interstate Bank commitment letter, <br />but e commitment letter included with <br />the documents is from 1st Source Bank. <br />Ms. pfotenhauer indicated that she would <br />workl with them to get the documents <br />Mr. Piasecki declared a conflict of <br />interest due to his membership on the <br />Boarl of the Housing Development <br />Co ration. <br />-13- <br />$ 8,500 <br />(Public) <br />$12,166 <br />(Private) <br />$16,000 <br />(Public) <br />$25,230 <br />(Private) <br />$ 8,500 <br />(Public) <br />$18,272 <br />(Private) <br />$ 8,000 <br />(Public) <br />$17,356 <br />(Private) <br />$ 8,500 <br />(Public) <br />$18,229 <br />(Private) <br />COMMISSION APPROVED TBE PROPOSAL <br />AND IRAN IN CONNECTION wITH THE <br />REN'T'AL REHAB IRAN FROGRAM FOR <br />PROPERTY LOCATED AT 235 E. FOX <br />