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South Bend Redevelopment Commission <br />Regular Meeting - January 16, 1998 <br />5. OLD BUSINESS (CONT.) <br />a. continued.... <br />Mrs. Kolata noted that the loan is in the <br />amount of $6,950 at 2% percent interest <br />for 15 years with monthly payments of <br />$44.72. There is no grant in connection <br />with this property. <br />There were discussions and questions <br />regarding this property at the last meeting. <br />The Housing Development Corporation is <br />selling this property to Ms. Reaves. There <br />were some questions related to why the <br />Housing Development Corporation wasn't <br />making the repairs to the property at 229 <br />E. Dubail. Mary Beth Thompson sent a <br />memorandum to the Commission stating <br />that the Housing Development <br />Corporation wasn't paying for the repairs <br />to the property because the property is <br />being sold for a nominal amount in "as is" <br />condition. Some of the costs are related to <br />making some modifications to the property <br />and some are related to repairs. <br />Upon a motion by Ms. Schwartz, seconded <br />by Mr. Donoho and unanimously carried, <br />the Commission approved the Loan and <br />Grant in connection with the Affordable <br />Loan Program for property located at 229 <br />E. Dubail. (Marsha Reaves) <br />Mrs. Kolata asked permission to add items <br />6.p. and 6.q. to the agenda. There were no <br />objections and items 6.p. and 6.q. were added <br />to the agenda. <br />FAH 0ME\ CPHIPPS \WPDATA \C0MMSN\011698.MIN -4- <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN CONNECTION WITH THE AFFORDABLE LOAN <br />PROGRAM FOR PROPERTY LOCATED AT 229 E. <br />DUBAIL (MARSHA REAVES) <br />ITEMS 6.P. AND 6.Q. WERE ADDED TO THE AGENDA <br />