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South Bend edevelopment Commission <br />Rescheduled Regular Meeting - May 1, 1992 <br />6. NEW BUSINESS (Cont.) <br />C. continued... <br />e. <br />Mr. Krcmaric noted that final numbers <br />wil be included in the resolution on <br />May 22, as will the decision on bond <br />ins rance. <br />Ms.lAuburn closed the public hearing. <br />Upon a motion by Ms. Huddleston, seconded <br />by Mr. Piasecki and unanimously carried, <br />the Commission approved Resolution <br />No. 1054 authorizing the issuance of tax <br />increment refinancing bonds in the South <br />Beno Central Development Area to refund <br />out tanding bonds. <br />COMMISSION APPROVED RESOLUTION <br />NO. 1054 AUTHORIZING THE ISSUANCE <br />OF TAX INCREMENT REFINANCING <br />BONDS IN THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA TO REFUND <br />OUTSTANDING BONDS <br />Ge rge G. Athens George Athens $21,350.00* $ 9,900.00 (Public) <br />31 E. Ewing $11,450.00 (Private) <br />*iOcludes $1,190 contingency and fees <br />Mrs Kolata noted that the property at <br />313 E. Ewing has three one - bedroom <br />units. Under the Rental Rehab Program <br />the loan would be repaid over a period of <br />10 vears at 096 interest as long as the <br />conditions of the loan are met. <br />Mrs Kolata noted that according to the <br />financial statement, the property does <br />not earn sufficient income to meet <br />expenses. Mr. Leverman explained that <br />Mr. Athens borrowed against the property <br />in <br />