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South Bend Redevelopment Commission <br />Regular Meeting - March 4, 1994 <br />6. NEW BUSINESS (Cont.) <br />1. Commission approval requested for <br />Subordination Agreement with First Federal <br />Savings Bank for p1QW y located at 617 N. <br />Cushing. (Leo R. and Cleora Kelsch) <br />Ms. Richmond explained that the <br />Subordination Agreements in item 6.1. and <br />6.m. result from refinancing. The <br />Commission already had its Rental Rehab <br />Loans subordinated to the First Federal loans. <br />The Kelsch's have just refinanced the First <br />Federal loans and that requires new <br />Subordination Agreements. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Sharp and unanimously carried, the <br />Commission approved the Subordination <br />Agreement with First Federal Savings Bank <br />for property located at 617 N. Cushing. (Leo <br />R. and Cleora Kelsch) <br />m. Commission approval requested for <br />Subordination Agreement with First Federal <br />Savings Bank for property located at 619 N. <br />Cushing. (Leo R. and Cleora Kelsch) <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Sharp and unanimously carried, the <br />Commission approved the Subordination <br />Agreement with First Federal Savings Bank <br />for property located at 619 N. Cushing. (Leo <br />R. and Cleora Kelsch) <br />7. PROGRESS REPORTS <br />Mrs. Kolata gave the Commission copies of a real <br />estate magazine, Indiana Commercial Magazine, <br />-16- <br />COMMISSION APPROVED THE <br />SUBORDINATION AGREEMENT WITH FIRST <br />FEDERAL SAVINGS BANK FOR PROPERTY <br />LOCATED AT 617 N. CUSHING. (LEO R. AND <br />CLEORA KELSCH) <br />COMMISSION APPROVED THE <br />SUBORDINATION AGREEMENT WITH FIRST <br />FEDERAL SAVINGS BANK FOR PROPERTY <br />LOCATED AT 619 N. CUSHING. (LEO R. AND <br />CLEORA KELSCH) <br />PROGRESS REPORTS <br />