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Human Resources and Economic Development Committee <br /> December 14, 1992 <br /> Page 2 <br /> It was also noted that in order to meet the low income criteria that you could not exceed <br /> 60% of the medium income for St. Joseph County and in order to meet the moderate <br /> criteria you could not exceed 80% of the medium income for St. Joseph County. In <br /> response to question raised by Council Member Slavinskas it was noted that a one bedroom <br /> apartment would rent for $381.00, a two bedroom for $457.00, and a three bedroom for <br /> $531.00 per month. Rental would include water and trash removal. The overall <br /> development would have 57 units in this two acre area. It is a town home concept and <br /> would have eight handicapped assessable units. The development must be placed in <br /> service by 1994. The Petitioner also noted that he was the developer for ADT, the Ivy <br /> Tech Building and the Social Security Building n g on South Main Street. He <br /> he would lose his tax credits if he would rent to students. also noted that <br /> Council Member Slavinskas then proposed language to the Resolution in consultation with <br /> the Council Attorney for a new Section IV which he read ad for the e Com ' <br /> mi <br /> tte <br /> Member Duda then e. Council <br /> made a motion, seconded by Council Member Washington, to accept <br /> the amendment. The P <br /> motion <br /> passed. Council Member Duda then made a motion, <br /> seconded by Council Member Slavinskas that amended Resolution No. 92-93 be <br /> recommended favorably to Council. The motion passed. <br /> There being no further business to come before the Committee the meeting was adjourned <br /> as 5:55 p.m. <br /> Respectfully submitted, <br /> Council Member Roland Kelly <br /> Chairperson,Human Resources and Economic Development Committee <br /> attachments <br /> 0 <br /> • <br />