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South Bend Redevelopment Commission <br />Special Meeting - October 13, 2000 <br />6. NEW BUSINESS (CONT.) <br />k. Commission approval requested for <br />proposal for professional services in the <br />Sample -Ewing Development Area. <br />(Appraisal of property located at 533 S. <br />Chapin St. (former Oliver Plow Works <br />Site)) <br />Ms. Kolata stated that the appraisal will allow <br />for an update of market value for the <br />property. She noted that the proposal is from <br />Rick Pitts, MAI in the amount of $4,000. <br />Upon a motion by Mr. Faccenda, seconded <br />by Ms. Jones and unanimously carried, the <br />Commission approved the proposal for <br />professional services in the Sample -Ewing <br />Development Area. (Appraisal of property <br />located at 533 S. Chapin St. (former Oliver <br />Plow Works Site)) <br />COMMISSION APPROVED THE PROPOSAL FOR <br />PROFESSIONAL SERVICES IN THE SAMPLE - <br />EWING DEVELOPMENT AREA (APPRAISAL OF <br />PROPERTY LOCATED AT 533 S. CHAPIN ST. <br />(FORMER OLIVER PLOW WORKS SITE)) <br />1. Commission approval requested for <br />Resolution No. 1797 pledging certain tax <br />increment revenues to the repayment of a <br />Section 108 loan from the U.S. Department <br />of Housing and Urban Development. <br />(Oliver Plow Works Site) <br />Ms. Kolata explained that the City has been <br />awarded an $800,000 BEDI grant to ast as a <br />debt service reserve fund for a Section 108 <br />loan for acquisition, demolition, <br />environmental remediation, site preparation <br />and infrastructure improvements to the Oliver <br />Plow Works site. Resolution No. 1797 <br />would guarantee the use of TIF funds for <br />repayment of a Section 108 loan that the City <br />would borrow from the U.S. Department of <br />Housing and Urban Development. She noted <br />