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4 <br />r <br />Y <br />heart of downtown South Bend. The developers have <br />planned for the rejuvenation of the Little Theater <br />in this structure and they have also planned to <br />provide Elderly Day Care. <br />Although, this project is not subsidized, because <br />of the inter -city being considered Urban Renewal, <br />this project will provide 150 of the units for low <br />income elderly tenants. With the reduction and <br />ultimate phasing out of the Housing Allowance Program, <br />there is a very high demand for these units. <br />With the UDAG vehicle, this type of housing can be <br />provided without the double burden of Government <br />subsidizing aswell as the FHA insurance of this <br />project. <br />January 18, 1984 <br />