Laserfiche WebLink
South Bend "welopment Carmiission <br />Regular Meeting - March 22, 1991 <br />6. NEW BUSVMS (Cont.) <br />7. <br />i. continued... <br />Mr. levenman explained that this <br />Subordination Agreement agrees to <br />subordinate a Rental Rehab loan for <br />prcT.exty at 1008 California to a 203K <br />loan with the Department of Housing and <br />Urbon Developament. The 203K loan has <br />approved contingent upon the Rental <br />loan being subordinated to second <br />Upon a motion by Mr. Piasecki, seconded <br />by Mr. Faccenda and unanimously carried, <br />the Comnmission approved the Subordination <br />Agreement with the Department of Housing <br />and Urban Development for property <br />loccited at 1008 California. <br />Thom Howell asked what the demolition <br />schedule was for the Transwestern Building. <br />Mrs. Ko ata responded that demolition should <br />begin in one to two weeps. <br />Mr. Crox k made a request that the Commission <br />authori a another marketing study for the <br />1200-1300 blocks of West Washington. The <br />previous one was done approximately three <br />years ac o. Since that time the Oliver Museum <br />has addid significant traffic to the area. <br />Those b ocks are now feasible for commercial <br />develomient and should not be demolished. <br />Mr. Crork also noted that Tippecanoe Place <br />and the Oliver Museum advertise that they are <br />located in the West Washington Historic <br />District.. That advertising could draw <br />additional commercial use to the area and the <br />area co4ld become a profitable commercial <br />village <br />Ms. c�� referred the subject to staff for <br />a re tion. <br />-10- <br />AGREEMENT WITH THE DEPARTMENT <br />HOUSING AND URBAN DEVELOPME=NT • <br />PROPERTY • ED ••• <br />CAIAFOIZNTA <br />