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South Bend <br />Regular Me <br />5. OLD BU <br />a. Co <br />RE <br />FM <br />b. <br />elopment Commission <br />- February 24, 1989 <br />(Cont.) <br />will report back to the Commission <br />reccmT endations for a long term <br />:own maintenance program. <br />s c upensation under this contract is <br />income from the two Ccmission owned <br />ing lots on Washington Street which <br />leased to CCA for $1.00. <br />Mr. Piasecki asked how large the present <br />ma' tenance crew is. Mr. Pitts responded <br />that there are three Park Department <br />ezp cyees and one Street Department <br />emp oyee comprising the crew. <br />Upo a motion by Mr. Piasecki, seconded <br />by Ms. Auburn and unanimously carried, <br />the Commission approved the contract with <br />Cen City Associates for maintenance <br />serAces in the downtown are. <br />Mr. Leverman explained that Northern Oak <br />H received a Rental Rehab loan for <br />this property and has completed the rehab <br />satisfactorily. They would like to <br />coniert their construction loan to a <br />mo ge and 1st Source Bank requires <br />tha its mortgage be in first position <br />for repayment. The request for the <br />Comitission to subordinate its position is <br />Upon a motion by Ms. Auburn, seconded by <br />Mr. Piasecki and unanimously carried, the <br />Comnission approved the Subordination <br />Agreement with 1st Source Bank for <br />probertv located at 305 E. Fox Street. <br />[7 <br />-4 <br />• b i • • •- -• :H UIRK 1 awk9i kilo •• <br />L. :• - • 1 II• • a- �� lay <br />• • • • - • <br />• �I'�1 • <br />• <br />