Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - November 03, 2000 <br />6. NEW BUSINESS (CONT.) <br />d. continued... <br />Upon a motion by Mr. Faccenda, seconded by <br />Mr. Caldwell and unanimously carried, the <br />Commission approved the disposition of the east <br />20 feet of the parcel located at 305 East <br />Broadway to Magdalena Del Valle for the <br />purchase price of $1.00 <br />Upon a motion by Mr. Faccenda, seconded by <br />Mr. Caldwell and unanimously carried, the <br />Commission approved the disposition of the west <br />20 feet of the parcel located at 305 East <br />Broadway to Carmen Del Valle for the purchase <br />price of $1.00 <br />e. Commission approval requested for <br />Satisfaction of Obligations and Release of <br />Mortgage. (Rental Rehab) <br />Mr. Inks explained that under the Rental Rehab <br />Loan Program a landlord receives a loan which is <br />forgiven 10% per year over ten years if the <br />conditions of the loan program are met. This <br />Release of Mortgage is for property located at <br />739 Laporte. The borrower met all the <br />obligations under the mortgage and the loan has <br />been fully forgiven as of March 20, 2000. <br />Upon a motion Mr. Kahn, seconded by <br />Mr. Faccenda and unanimously carried, the <br />Commission approved the Satisfaction of <br />Obligations and Release of Mortgage. (Rental <br />Rehab) <br />-8- <br />COMMISSION APPROVED THE DISPOSITION <br />OF THE EAST 20 FEET OF THE PARCEL <br />LOCATED AT 305 EAST BROADWAY TO <br />MAGDALENA DEL VALLE FOR THE <br />PURCHASE PRICE OF $1.00 <br />COMMISSION APPROVED THE DISPOSITION <br />OF THE WEST 20 FEET OF THE PARCEL <br />LOCATED AT 305 EAST BROADWAY TO <br />CARMEN DEL VALLE FOR THE PURCHASE <br />PRICE OF $1.00 <br />COMMISSION APPROVED THE <br />SATISFACTION OF OBLIGATIONS AND <br />RELEASE OF MORTGAGE (RENTAL REHAB) <br />