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IL South Bend Redevelopment Commission <br />Regular Meeting — December 2, 2005 <br />14 <br />6. NEW BUSINESS (CONT.) <br />B. Receipt of Proposals <br />(2) continued... <br />five or six apartment complexes in Elkhart <br />and sells them to fund further development. <br />He has been through the hotel with an <br />architect and a contractor. He sees a lot of <br />potential, but was not ready to put a proposal <br />together so quickly. <br />Upon a motion by Mr. King, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission acknowledged the receipt of the <br />letters of interest from Scioto Development <br />and Randall Lipps Investments and the non- <br />conforming proposals from City Center <br />Associates and Mansur Real Estate Services, <br />Inc. <br />C. Housing <br />(1) Commission approval requested for Loan <br />and Grant in connection with the South <br />Bend Home Improvement Program for <br />property located at 737 S. Edison Ave. <br />(Michelle Stenberg) <br />Mr. Inks noted that the loan is in the amount <br />of $2,500. The grant is in the amount of <br />$2,365. <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Downes and unanimously carried, the <br />Commission approved the Loan and Grant in <br />connection with the South Bend Home <br />Improvement Program for property located at <br />737 S. Edison Ave. (Michelle Stenberg) <br />12 <br />COMMISSION ACKNOWLEDGED THE RECEIPT OF <br />THE LETTERS OF INTEREST FROM SCIOTO <br />DEVELOPMENT AND RANDALL LIPPS <br />INVESTMENTS AND THE NON - CONFORMING <br />PROPOSALS FROM CITY CENTER ASSOCIATES <br />AND MANSUR REAL ESTATE SERVICES, INC. <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN CONNECTION WITH THE SOUTH BEND HOME <br />IMPROVEMENT PROGRAM FOR PROPERTY <br />LOCATED AT 737 S. EDISON AVE. (MICHELLE <br />STENBERG) <br />