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RE <br />South Bend Redevelopment Commission <br />Regular Meeting - November 5, 1993 <br />NEW BUSINESS (Cont.) <br />d. continued... <br />that are all she can handle at this time. The <br />West Washington - Chapin Loan will be a lien <br />on the house, subordinate to the land <br />contract. The size of her payments when <br />she begins making payments on the WWC <br />loan have not been determined, because <br />several of her sources of income could <br />change before that time. <br />Upon a motion by Mr. Piasecki, seconded <br />by Mr. Sharp and unanimously carried, the <br />Commission approved a loan in the amount <br />of $10,150 in connection with the West <br />Washington - Chapin Loan Program for <br />property located at 1038 LaSalle Ct. for <br />Cynthia J. Woods. <br />e. Commission approval requested for loan in <br />connection with the West Washington- <br />Chapin Rehabilitation Loan Program for <br />property located at 1104 W. Napier. (Ronald <br />& Susan Webb) <br />Mrs. Kolata explained that the $71,600 loan <br />to the Webbs carries an interest rate of 3 % <br />for a 30 year term. Monthly payments will <br />be approximately $301. The Webbs do not <br />currently live in the house, but will rehab it <br />for their home. It is a three bedroom home. <br />Upon a motion by Mr. Sharp, seconded by <br />Mr. Piasecki and unanimously carried, the <br />Commission approved the loan in the <br />amount of $71,600 in connection with the <br />West Washington - Chapin Loan Program for <br />property located at 1104 W. Napier for <br />Ronald & Susan Webb. <br />-16- <br />COMMISSION APPROVED A LOAN IN THE <br />AMOUNT OF $10,150 IN CONNECTION WITH <br />THE WEST WASHINGTON - CHAPIN LOAN <br />PROGRAM FOR PROPERTY LOCATED AT <br />1038 LASALLE CT. FOR CYNTHIA J. WOODS <br />COMMISSION APPROVED THE LOAN IN THE <br />AMOUNT OF $71,600 IN CONNECTION WITH <br />THE WEST WASHINGTON - CHAPIN LOAN <br />PROGRAM FOR PROPERTY LOCATED AT <br />1104 W. NAPIER FOR RONALD & SUSAN <br />WEBB <br />