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South BenddIRedevelopment Cmimission <br />Regular M ting - June 23, 1989 <br />6. NEW B[J MESS (Cont.) <br />b. c6ntinued... <br />Kolata noted that these Rental <br />iab Loans require approval of the <br />posal of the contractor and approval <br />the loan because the owner is the <br />feral contractor. <br />Piasecki asked who the partners are <br />h Mr. Brademas in the New Hope <br />sing partnership. Mrs. Kolata asked <br />LevPrman if the Bureau of Housing <br />a copy of the partnership <br />eement. Mr. Leverman responded that <br />y do not. Mr. Piasecki requested <br />t that information be provided as <br />t of the record.. <br />Piasecki questioned the after rehab <br />ue of the properties which are <br />stantially lower than the total of <br />present value and the cost of <br />gab. Mrs. Kolata responded that the <br />,t of the rehab becomes an investment <br />the neighborhood rather than an <br />estment in the house. <br />Donoho asked why Mr. Brademas's <br />dmates were so close to the Bureau of <br />sing's estimates for the work. Mrs. <br />.ata explained that the Housing <br />elopment Corporation had considered <br />chasing the units and had developed <br />,t estimates for the rehab. Mien that <br />.e did not take place, Mr. Brademas <br />eed to do the work for the HDC <br />dmated cost. <br />;. Kolata noted that most of these <br />is are one bedroom units. The Rental <br />ab Program has a preference for <br />Eger, two and three bedroom units. <br />Brademas has talked to <br />�resentatives of the Department of <br />sing and Urban Development and has <br />n promised a waiver on the two <br />room requirement. He perceives a <br />d for one bedroom units following the <br />e which destroyed the Morningside <br />-4- <br />