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South Bend Redevelopment Commission <br />Regular Meeting - August 18, 1995 <br />6. NEW BUSINESS (Cont.) <br />g. continued... <br />Housing for property located at 1234 N. <br />Elmer. (Rosemond Schmansld) <br />h. Commission approval requested for Loan <br />and Grant in connection with the <br />Affordable Loan Program through the <br />Bureau of Housing. (Norma J. Mahoney) <br />Mrs. Kolata noted that the Loan to Norma J. <br />Mahoney is in the amount of $2,550 at 1 % <br />interest for five years. Payments are $42.50 <br />per month. The grant is $2,268.75. The <br />staff recommends approving the loan and <br />grant. <br />Upon a motion by Mr. Hunt, seconded by <br />Mr. Donoho and unanimously carried, the <br />Commission approved the Loan and Grant in <br />connection with the Affordable Loan <br />Program through the Bureau of Housing for <br />property located at 302 E. Victoria. (Norma <br />J. Mahoney) <br />i. Commission approval requested for <br />increased loan amount for Lee Charles <br />Nelson at 1805 Fassnacht. <br />Mrs. Kolata noted that the Commission <br />approved a loan for Lee Charles Nelson for <br />this property in March. When they tried to <br />close on the loan, they discovered there were <br />some liens on the property as well as some <br />delinquent taxes. In order to close on the <br />loan and still have money for the <br />construction, the Bureau of Housing <br />recommends increasing the loan portion to <br />-7- <br />LOCATED AT 1234 N. ELMER. (ROSEMOND <br />SCHMANSKI) <br />COMMISSION APPROVED THE LOAN AND <br />GRANT IN CONNECTION WITH THE <br />AFFORDABLE LOAN PROGRAM THROUGH <br />THE BUREAU OF HOUSING FOR PROPERTY <br />LOCATED AT 302 E. VICTORIA. (NORMA J. <br />MAHONEY) <br />