HomeMy WebLinkAbout6B (1)1200 COUNTY -CITY BUILDING
227 W JEFFERSON BOULEVARD
SOUTH BEND, INDIANA 46601 -1830
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PHONE 574 / 235 -9371
FAx 574/235 -9021
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY & ECONOMIC DEVELOPMENT
JEFFREY V. GIBNEY
EXECUTIVE DIRECTOR
November 8, 2011
To: Redevelopment Commissioners
From: Kaye Trowbridge, Community Development
RE: Type of Loan South Bend Home Improvement Program
Amount of Loan Request
Grant
Loan Client
Property Street Address
Property City, State, Zip Code
$6,500.00
$17,000.00
Marilyn Sheree LaPorte
424 Lamonte Terrace
South Bend, IN 46616
We are submitting for your review and approval the above application. This transmittal includes
the following:
1. Final Application
2. Contractor's Bids- Tri -M Construction
3. Contractor's Bids- Gnoth Naragon
4. Contractor's Bids- Garman Electric
5. Agreement for Supervision
If you have any questions, please contact me at 235 -9660.
APPROVED
TD�onal ♦d^..Inks
DirrAactoi
COMMUNITY DEVELoWVartment of Re Rff PMENT FINANCIAL. & PROGRAM
PAMELA C. MEYER O LD NK.S MANAGEMENT
fAusers \share5dWu1 e \transmit 574/235 -9371 ELIZABETH LEONARD
FAX: 574/235 -9469 5741235 -9371
AGREEMENT FOR SUPERVISION OF REAL PROPERTY
REHABILITATION
This Agreement is entered into by and between the City of South Bend
Redevelopment Commission and Marilyn Sheree LaPorte (Owner), residing at 424
Lamonte Terrace, South Bend, IN 46616.
1. Owner has entered into an agreement with City of South Bend -
Redevelopment Commission dated November 8, 2011 for a Home Improvement Loan
in the amount of Six Thousand Five Hundred ($6,500.00) to be used for the sole
purpose of rehabilitating the premises commonly known as 424 Lamonte Terrace,
South Bend, IN, 46616 and more full described as:
E 40.3 Ft Ex Tri Pc Se Cor Lot 15 Fassnachts Sub
2. Owner has entered into an Agreement for Rehabilitation of Real Property
dated with Tri -M Construction, Gnoth Naragon, Garman Electric
(Contractor) for the rehabilitation of said premise.
3. Owner & Commission hereby authorizes the Division of Community
Development to monitor and inspect the rehabilitation work, to approve or disapprove
Contractor's performance, to approve or disapprove proposed changes, to issue stop
work orders when Supervisor determines that such action is in the Owner's best
interest and to perform all other acts necessary to insure that Contractor fulfills its
obligations under the Agreement for Rehabilitation of Real Property, including all
terms and conditions thereof.
4. Owner & Commission hereby authorizes the Supervisor to disburse the
proceeds of Owner's Home Improvement Loan to pay the costs of rehabilitation
performed at the above described premises, pursuant to the Agreement for
Rehabilitation of Real Property. Disbursement of said loan proceeds shall be made
pursuant to the terms and conditions of said Agreement for Rehabilitation of Real
Property.
Executed this 8th day of November, 2011.
OWNER
Marilyn Sheree LaPorte
STATE OF INDIANA )
) SS:
ST. JOSEPH COUNTY )
City of South Bend
- Redevelopment Commission
Before me a Notary Public, personally appeared
and acknowledge execution of the foregoing agreement
this 8th day of November, 2011.
Cheryl K. Phipps, Notary Public
Residing in St. Joseph
County, Indiana
My Commission Expires: January 7, 2015
STATE OF INDIANA )
) SS:
ST. JOSEPH COUNTY )
Before me a Notary Public, personally appeared Marilyn Sheree LaPorte and
acknowledge execution of the foregoing agreement this day of November, 2011.
Kaye Trowbridge - Notary Public
Residing in St. Joseph
County, Indiana
My Commission Expires: February 6, 2016
1200 CouNTY -CITY BuILDING
227 W JEFFERSON BOULEVARD
SOUTH BEND, INDIANA 46601 -1830
PHONE 574/235 -9371
FAx 574/235 -9021
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY & ECONOMIC DEVELOPMENT
JEFFREY V. GIBNEY
EXECUnVE DIRECTOR
Community Development
SOUTH BEND HOME IMPROVEMENT PROGRAM
Loan Application
Applicant's Name Marilyn Sheree LaPorte 424 Lamonte Terrace
Name Address
South Bend, IN 46616 57
City /State /Zip Age
Co- Applicant's Name South Bend, IN
Name Address City /State /Zip
PLEASE NOTE: Hereafter Individual and joint applicants will be referred to as the "applicant ".
Age of Dependents:
1. Rehabilitation Cost
2.
3.
4.
Total Number of Dependents: 0
PROJECTED LOAN TOTAL
A. Amount for Construction Work $21,213.11
B. Unexpected Costs (10% of line 1A) $2,121.00
C. Title Report, Recording Fees
Credit Report, Legal Fees, etc. $146.00
D. Amount of Mortgages Being Refinanced
E. TOTAL (sum of lines IA through 1D)
Funds to be Furnished From Other Sources
A. Grant Funds To Be Furnished (SBHIP grant)
B. Other Funds To Be Furnished ( )
C. TOTAL (line 2A +2B)
Line I Minus Line 2C
TOTAL AMOUNT OF APPLIED LOAN (line 3 rounded to the next highest $50)
Interest Rate Per Annum 0% Number of Months N/A
Monthly Payments of Principal and Interest (Do not round)
Age of Structure Remaining Economic Life "As -Is" Value
TOTAL LOAN PAYMENTS
1. Total Gross Monthly Income
2. Monthly Housing Expense
3. Liabilities
4. Total Monthly Fixed Charges
5. TOTAL (lines 2, 3 & 4)
Balance (line 1 minus line 5)
"After Rehab" Val
$300.88
$74.00
$455.57
Age
lE $23,480.11
$17,000.00
2C $47,000.00
3 $6,480.11
$6,500.00
COMMUNITY DEvFLOPMFNT ECONOMIC DEVELOPMENT FINANCIAL. & PROGRAM
PAMELA C. MEYER DONALD F. INKS MANAGEMENT
574/235 -9660 574/235 -9371 ELIZABETH LEONARD
FAx: 574/235 -9469 574/235 -9371
$1,569.06
$830.45
$738.61