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South Bend Redevelopment Commission <br />Regular Meeting - November 1, 1996 <br />6. NEW BUSINESS (Cont.) <br />k. Commission approval requested for <br />Loan and Grant in connection with the <br />Affordable Loan Program for property <br />located at 1602 Elwood. (Benny Lou <br />Clayton) <br />Mrs. Kolata explained that the loan to <br />Benny Lou Clayton is in the amount of <br />$5,150 at 0% interest for 5 years with <br />monthly payment of $85.83. The grant is <br />in the amount of $4,991.25 <br />Upon a motion by Mr. Faccenda, <br />seconded by Mr. Donoho and <br />unanimously carried, the Commission <br />approved the Loan and Grant in <br />connection with the Affordable Loan <br />Program for property located at 1602 <br />Elwood. (Benny Lou Clayton) <br />1. Commission approval requested for <br />proposal for professional services in the <br />Airport Economic Development Area. <br />Mrs. Kolata noted that the staff requested <br />an estimate from two surveying firms, for <br />preparing a land -title survey and a <br />topographic survey showing elevations of <br />the property. <br />Mrs. Kolata explained that the land is <br />owned by the Redevelopment <br />Commission. It is west of the by -pass and <br />south of the toll road, and adjacent to land <br />that is anticipated to be privately <br />developed for industrial use. Mrs. Kolata <br />noted that the land is hilly and needs site <br />planning work, so when roads are <br />developed on the adjacent property, it will <br />-11- <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN CONNECTION WITH THE AFFORDABLE LOAN <br />PROGRAM FOR PROPERTY LOCATED AT 1602 <br />ELWOOD (BENNY LOU CLAYTON) <br />