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South Bend edevelcpment Commission <br />Regular Meeting - March 24, 1989 <br />6. NEW BUSUM (Cont.) <br />e. <br />Kolata explained that this addendum <br />c <br />$200,000 to the Community <br />:lopment Program Contract to be used <br />acquisition, relocation, clearance, <br />public works. It will be used to <br />n the acquisition process in Monroe <br />Upon a motion by Ms. Auburn, seconded by <br />Mr. Combs and unanimously carried, the <br />Comnission approved Addendum I to the <br />Com.mmty Development Program Contract, <br />CD! -604, in the amount of $244,247.00 <br />for Monroe Park Development Activity. <br />Kolata noted that this is similar to <br />r Subordination Agreements the <br />fission has approved. Barry Adams <br />rived a loan through the Rental Rehab <br />ram for a portion of the <br />bilitation costs for this property. <br />rehab is nearly complete. The <br />,rdination agreement is necessary for <br />hers Credit Union to approve a <br />gage on the property and have their <br />gage in first position. <br />Ms. IAuburn declared a conflict of <br />intbrest on this item and did not vote. <br />Mr. Nimtz declared himself a member of <br />Tea ers Credit Union and discovered that <br />all members of the Commission were <br />menDers of TCU. Carolyn Pfotenhauer <br />sail public disclosure of that was <br />suf Eicient and did not represent a <br />co list of interest except in the case <br />ofComydssioner Auburn who has a business <br />relationship with Teachers Credit Union. <br />COMMISSION APPROVED ADDEMM I TO <br />COMMUNITY DEVELOPMENT PROGRAM <br />CONTRACT, CD89 -604 IN THE AMOUNT <br />OF $244,247.00 FOR THE MONROE <br />PARK DEVELOPMENT ACTIVITY <br />