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South Bend evelopment Commission <br />Special Mee ing - November 16, 1990 <br />3. OLD BUSUESS (Cont.) <br />4. <br />a. conuinuea... <br />a. <br />Joseph MacHatton Joseph MacHatton <br />413 S. Jackson <br />* includes $2,552.00 contingency <br />Mrs Kolata noted that Rental Rehab <br />loans are made at 0% interest for ten <br />years, 10% of the loan forgiven each <br />year if the property is maintained and <br />is made available to low and moderate <br />i= me people. <br />Upor. a motion by Mr. Combs, seconded <br />by Dr. Donoho and unanimously carried, <br />the Commission approved a Rental Rehab <br />Loanin the amount of $12,590.00 to <br />Thomas Brademas Jr. and Michelle <br />Bra emas for property located at 1003 <br />Sh Avenue and approved Tom <br />Bra emas Jr. as the contractor. <br />Upor. a motion by Mr. Donoho, seconded <br />by Dr. Combs and unanimously carried, <br />the Commission approved a Rental Rehab <br />in the amount of $22,500.00 to <br />Jos ph MacHatton for property located <br />at 413 S. Jackson and approved Joseph <br />Mad1fatton as general contractor. <br />Mrs. Kolata reported that the staff <br />has received a counter offer for <br />Parcel 4 -31 in the Studebaker Corridor <br />Development Area. The property is <br />located at 1107 S. Lafayette. The <br />co offer is $7,500. The staff <br />r accepting the offer. <br />by <br />a motion by Mr. Doncho, seconded <br />r. Piasecki and unanimously <br />-2- <br />$48,552.00 $22,500.00 (Public) <br />$26,052.00 (Private) <br />JOSEPH COMAISSION APPROVED RENTAL REHAB <br />I.DAN IN THE AMOUNT OF $22,500 FOR <br />rC r• • FOR - -• -E•a <br />IOCATED AT 413 S. JACKSON AND <br />APPROVED • - MACHATTON AS -• <br />CONTRACMR <br />COWUSSION ACCEPTED THE COUNTER <br />OFFER OF $7,500 FOR PARCEL 4 -31 IN <br />