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AGREEMENT BETWEEN THE URBAN REINVESTMENT TASK FORCE AND THE <br />CITY OF SOUTH BEND, INDIANA <br />APR l 1978 <br />I. The Urban Reinvestment Task Force ( "Task Force ") in conjunction with <br />the Federal. Home Loan Bank of Indianapolis will undertake to develop <br />a Neighborhood Housing Services program in the city of South Bend, <br />Indiana, subject to the considerations and conditions outlined. <br />A. A Neighborhood Housing Services (NHS) includes the development <br />of a working relationship between residents of a specific <br />neighborhood and a group of financial institutions in coopera- <br />tion with city government. It involves the creation of a <br />Revolving Loan Fund which would be controlled by the NHS. The <br />NHS would assist residents of the neighborhood to improve their <br />homes and bring them at least to minimum code standards, by pro- <br />viding counseling, assistance in dealing with contractors, re- <br />.ferrals to private financial institutions, and in cases where <br />the homeowners are unable to meet commercial credit standards, <br />by providing direct loans at flexible rates and terms. <br />B. In cooperation with the District Federal Home Loan Bank, of <br />Indianapolis, the District Federal Reserve Bank, the Federal Deposit <br />Insurance Corporation, the Office of the Comptroller of the <br />Currency, and State bank and savings and loan supervisors, as <br />appropriate, the Task Force will help convene financial institutions, <br />and obtain their interest in the program: One or more meetings <br />of industry leaders called by the regulatory agency heads should <br />take place before the actual Workshop program begins. The <br />