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South Bend Redevelopment Commission <br />Regular Meeting - August 20, 1993 <br />6. NEW BUSINESS (Cont.) <br />o. continued... <br />Ms. Richmond explained that Minnie <br />Clark is 73 years old and lives alone. <br />She does not have the means to make <br />very large payments to a loan until she <br />pays off an existing mortgage. <br />Therefore, the loan has been structured <br />with payments of $21.25 per month. <br />The interest rate is 0% for a term of 30 <br />years. <br />The major improvement is a roof for the <br />house and garage. The house is in very <br />good condition, except for the roof, but <br />it does not have a very high market <br />value. <br />Upon a motion by Mr. Donoho, <br />seconded by Mr. Piasecki and <br />unanimously carried, the Commission <br />approved the Loan in connection with the <br />West Washington Loan Program through <br />the Bureau of Housing for property <br />located at 1026 W. Jefferson Blvd. <br />7. PROGRESS REPORTS <br />Mr. Wolf introduced Mary Barbosa Marshall, <br />the new marketing coordinator for Center City <br />Associates, replacing Debbie Leonard. <br />Mr. Wolf noted that "Meet Me on the Island" <br />takes place today. It has been a huge success <br />the last few years. <br />Mr. Cierzniak asked for time to respond to the <br />report from Economics Research Associates on <br />the feasibility of the College Football Hall of <br />in <br />COMMISSION APPROVED THE LOAN IN <br />CONNECTION WITH THE WEST <br />WASHINGTON LOAN PROGRAM THROUGH <br />THE BUREAU OF HOUSING FOR PROPERTY <br />LOCATED AT 1026 W. JEFFERSON BLVD. <br />PROGRESS REPORTS <br />