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South Bend evelopment Camussion Meeting <br />Regular Mee ping - June 14, 1991 <br />5. OLD BUSDTFJSS (Cont.) <br />C'1 <br />a. continued... <br />a. <br />Ups a motion by Mr. Donoho, seconded by <br />Mr. Combs and unanimously carried, the <br />Ccmnission approved the loan of $17,000 <br />to Wayne Woodworth, Earl Woodworth and <br />Northern Oak Homes in connection with the <br />Ren Rehab Program for property located <br />at 107 S. William. <br />Upon a motion by Mr. Donoho, seconded by COMMISSION AWARDED THE CONTRACT <br />Mr. Combs and unanimously carried, the IN CONNECTION WITH THE RENTAL <br />Comnission awarded the contract in REHAB PROGRAM TO NORTHERN OAK <br />connection with the Rental Rehab Program HOMES IN THE AMOUNT OF $53,038.00 <br />to Northern Oak Homes in the amount of FOR PROPERTY LOCATED AT 107 S. <br />$53 038.00 for property located at 107 S. WILLIAM <br />Mrs Kolata noted that, as of 10:00 a.m. <br />tod6y, two bids were received for the <br />offered parcels. The parcels were <br />offered for lease /purchase instead of for <br />sale because the property was purchased <br />witli bond proceeds and the remaining term <br />of the bond is 21 years. The land cannot <br />be sold until the bond is paid off. <br />Mrs Kolata explained that the larger <br />piecm of property is on a block bounded <br />by Fellows, Monroe, South and Rush <br />streets. The smaller parcel is located <br />at the northwest corner of Fellows and <br />South streets. <br />The first bid opened was from Monroe Park <br />Associates, represented by Christopher J. <br />Mat , President. Monroe Park <br />-4- <br />