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South Bend Redevelopment Commission <br />Regular Meeting - August 6, 1993 <br />6. NEW BUSINESS (Cont.) <br />n. continued... <br />30 years at market rate. The monthly <br />payment, principal and interest, will be <br />$428.82, plus $69.00 for insurance and <br />taxes (total, $497.82). <br />Rev. and Mrs. Harris want this home very <br />much. They have been very frustrated by <br />the demands made on them by design review <br />and Historic Preservation. They wanted a <br />low maintenance home with vinyl siding. <br />Historic Preservation does not usually allow <br />vinyl siding to be used in rehab. The <br />compromise in this case allows the use of <br />vinyl siding on areas that had already had <br />siding, but not on the corner boards, soffets, <br />gables, and trim around the windows. This <br />will mean the Harris' will have ongoing <br />maintenance expenses to keep these parts <br />painted. <br />Mrs. Kolata noted that a sleeping porch and <br />an enclosed porch on the back of the house <br />will be torn down. She also noted that the <br />Harrises are aware of the disproportionate <br />after -rehab loan-to -value ratio. <br />Mrs. Kolata noted that this has been a very <br />difficult project to put together. The house <br />is a major eyesore in the neighborhood now. <br />If it is torn down it will leave a large hole. <br />If it is rehabbed as now proposed, it will <br />enhance the neighborhood. <br />Mr. Piasecki asked the condition of the <br />house next door to this one. Ms. Richmond <br />responded that it is a rental and is in fair <br />condition. <br />-16- <br />