My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
RM 04-07-95
sbend
>
Public
>
Redevelopment Commission
>
Minutes
>
1990-1999
>
1995
>
RM 04-07-95
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/2/2012 3:46:31 PM
Creation date
10/8/2012 11:48:51 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
27
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
South Bend Redevelopment Commission <br />Regular Meeting - April 7, 1995 <br />loan agreements with the Commission to <br />turn that property into low income rental <br />housing. Under the Rental Rehab Loan <br />Agreement 10 % of the loan is forgiven each <br />year if the property meets certain <br />requirements. If the property owner abides <br />by the terms of the agreement for ten years, <br />he would not have to repay any of the loan. <br />By purchasing the property from the owner, <br />the Commission prevents the owner from <br />fulfilling the loan agreements and receiving <br />the yearly waivers of payment. The staff <br />feels that it is not fair that the owner be <br />required to pay back the balance when it is <br />the Commission's action that causes the <br />terms not to be fulfilled. This Satisfaction <br />of Federal Rehabilitation Loan Agreement <br />releases the owner from further obligation. <br />The balance on the loan is just under <br />$4,000. <br />Upon a motion by Mr. Donoho, seconded <br />by Mr. Hunt and unanimously carried, the <br />Commission approved the Satisfaction of <br />Federal Rental Rehabilitation Loan <br />Agreement and Release of Mortgage for <br />Clarence S. and Thelma Allison. <br />i. Commission approval requested for <br />Resolution No. 1335 accepting the transfer <br />of real property from the City of South <br />Bend, Indiana. <br />Mrs. Kolata explained that the City of South <br />Bend owns five lots in the 600 block of <br />6. NEW BUSINESS (Cont.) <br />i. continued... <br />C -20- <br />COMMISSION APPROVED THE <br />SATISFACTION OF FEDERAL RENTAL <br />REHABILITATION LOAN AGREEMENT AND <br />RELEASE OF MORTGAGE FOR CLARENCE S. <br />AND THELMA ALLISON <br />
The URL can be used to link to this page
Your browser does not support the video tag.