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South Bend Redevelopment Commission <br />Regular Meeting - August 7, 1998 <br />6. NEW BUSINESS (CONT.) <br />o. continued.... <br />Upon a motion by Ms. Schwartz, seconded <br />by Mr. Donoho and unanimously carried, the <br />Commission approved the Loan and Grant in <br />connection with the Affordable Loan <br />Program for property at 124 S. Sheridan. <br />(Lucille F. Horvath) <br />p. Commission approval requested for Loan <br />and Grant in connection with the <br />Affordable Loan Program for property at <br />617 S. Columbia. (William W. Taylor) <br />Mrs. Kolata stated that the loan to William <br />W. Taylor is in the amount of $22,800 at 8% <br />interest for 20 years with monthly payments <br />of $190.71 The grant is in the amount of <br />$5,625.40 <br />Mrs. Kolata stated that she called the Bureau <br />of Housing because of the large amount of <br />work which needs to be completed on the <br />house, and the high cost to completely redo <br />the roof. <br />Mrs. Kolata stated that she asked the Bureau <br />of Housing if the amount stated in the Loan <br />and Grant application was a reasonable <br />amount for the work which needs to be done <br />on the house. She stated that the Bureau of <br />Housing felt that it was a reasonable price for <br />the amount of work which needs to be done. <br />There is a flat roof on the house at 617 S. <br />Columbia and, specialized roofing <br />contractors need to do the work. <br />HAW PDATATOMMSM080798 MN <br />-23- <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN CONNECTION WITH THE AFFORDABLE LOAN <br />PROGRAM FOR PROPERTY AT 124 S. SHERIDAN. <br />(LUCILLE F. HORVATH) <br />