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South Bend Redevelopment Commission <br />Regular Meeting - August 18, 1995 <br />6. NEW BUSINESS (Cont.) <br />i. continued... <br />$19,200 to cover the additional closing costs <br />instead of $15,200 which was originally <br />approved. The terms will be 0% interest for <br />20 years with payments of $80.00. The staff <br />recommends approving the loan and grant. <br />Mary Richmond noted that an escrow <br />account will be established to collect and pay <br />taxes and insurance. <br />Upon a motion by Mr. Donoho, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission approved the increased loan <br />amount of $19,200 for property located at <br />1805 Fassnacht in connection with the <br />Affordable Loan Program. (Lee Charles <br />Nelson) <br />j. Commission approval requested for Deed <br />of Easement related to the Midwest Land <br />Company project in the Airport Economic <br />Development Area. <br />Mrs. Kolata explained that Indiana Michigan <br />Power had to move some power lines for the <br />Midwest Land Company project. This is the <br />easement for the new location of the lines. <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Donoho and unanimously carried, <br />the Commission approved the Deed of <br />Easement related to the Midwest Land <br />Company project in the Airport Economic <br />Development Area. <br />H. <br />COMMISSION APPROVED THE INCREASED <br />LOAN AMOUNT OF $19,200 FOR PROPERTY <br />LOCATED AT 1805 FASSNACHT IN <br />CONNECTION WITH THE AFFORDABLE <br />LOAN PROGRAM. (LEE CHARLES NELSON) <br />COMMISSION APPROVED THE DEED OF <br />EASEMENT RELATED TO THE MIDWEST <br />LAND COMPANY PROJECT IN THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA <br />