Approving the Expenditure Development Block Grant Funds Various Bureau of Housing Programs

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CITY OF SOUTH BEND South Bend, Indiana 46601 Jerry J. Miller Mayor William P. Hoinacki Director, Human Resources and Economic Development Mr. Roger 0. Parent, President South Bend Common Council County -City Building South Bend, Indiana 46601 Dear Councilman Parent: COMMUNITY DEVELOPMENT PROGRAM Room 1200, County -City Building 219 284 -9371 Bureau of Housing Bureau of Planning and Management July 23, 1975 In accordance with Council Resolution No. 476, an ordinance must be approved for each Community Development Program project budget before any funds may be expended. We are, therefore, submitting for consid- eration by the Common Council, three ordinances authorizing expenditures for six different housing rehabilitation programs. The first ordinance sets forth the line budgets for four housing pro- grams, as previously approved in the Community Development application. The Project Area Rehabilitation Grants will be divided between two areas: the Southeast Neighborhood and an extension of the Model Cities rehab area north of Lincolnway. All other programs will be city -wide. I believe that Mr. Crighton has supplied you with copies of the proposed guidelines for these programs. Please note that all funds allocated shall be used for actual contractual services. The second ordinance allocates a sum of $75,000 for the establishment of a revolving fund for preservation of residential properties in the West Washington Historic District. The fund will be administered by the Southold Heritage Foundation, Inc., in accordance with guidelines set down in the contract which is attached to the ordinance. The con- tract has been reviewed by Southold, and will be signed once the ordinance is approved. The final ordinance sets aside $100,000 to be placed on deposit with five commercial South Bend banks to guarantee high risk loans in selected tar- get neighborhoods. We have been negotiating with bank representatives for several months, and have worked out procedural details to our mutual satisfaction. They are also attached to the ordinance. I think the