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14 <br />South Bend Redevelopment Commission <br />Regular Meeting - August 5, 1994 <br />6. NEW BUSINESS (Cont.) <br />c. continued... <br />business and building immediately north of <br />207 E. Ohio. The owner of the property is <br />Philip Magaldi. He runs a business located <br />on Sample Street. 207 E. Ohio is <br />immediately behind his business. The <br />minimum bid price on the lot is $325. We <br />have offered $350 for his property at 201 E. <br />Ohio. The staff recommends accepting the <br />offer of trade. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Donoho and unanimously carried, <br />the Commission accepted the offer of trade <br />from Philip Magaldi, trading the property at <br />201 E. Ohio for the property at 207 E. Ohio <br />in the Sample -Ewing Development Area. <br />d. Commission approval requested for Loan in <br />connection with the Roof Loan Program for <br />property located at 237 N. Wellington. <br />(Mary F. Jackson) <br />Mrs. Kolata noted that the loan to Mary <br />Jackson is in the amount of $3,300 at 0% <br />interest for 10 years. The monthly payment <br />is $27.50. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Donoho and unanimously carried, <br />the Commission approved the Loan in <br />connection with the Roof Loan Program for <br />property located at 237 N. Wellington (Mary <br />F. Jackson) <br />C.1 <br />COMMISSION ACCEPTED THE OFFER OF <br />TRADE FROM PHILIP MAGALDI, TRADING <br />THE PROPERTY AT 201 E. OHIO FOR THE <br />PROPERTY AT 207 E. OHIO IN THE SAMPLE - <br />EWING DEVELOPMENT AREA <br />COMMISSION APPROVED THE LOAN IN <br />CONNECTION WITH THE ROOF LOAN <br />PROGRAM FOR PROPERTY LOCATED AT 237 <br />N. WELLINGTON (MARY F. JACKSON) <br />