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South BenddlRedevelopment Commission <br />Reschedul Regular Meeting - November 17, 1989 <br />6. NEW BU.5 INFSS (Coat.) <br />h. continued... <br />x; along the front of the Colfax <br />.er; along both sides of the <br />,tman Building; along IaSalle and <br />Streets next to the South Bend <br />ng Ict north of the Christman <br />Ling; along Washington Street <br />,ent to Business Systems, Van Horne <br />.ers, and Fannie Mae Candy Store; a <br />on in front of the Summit Bank at <br />tx and Main; and approximately 198 <br />Lr feet in front of the Trigon <br />Ling at Lafayette and Jefferson. The <br />iated cost of our portion of all of <br />curb and sidewalk work is $91,000. <br />last project is Monroe Park <br />isition. It is divided into three <br />gories: 1) eight parcels that are <br />nt land; 2) eleven properties that <br />houses and the clearance of those <br />es; 3) eleven parcels with houses <br />e we would have rehab of the houses. <br />estimated cost of the Monroe Park <br />eat is $770,000. Mrs. Kolata noted <br />. we have begun the acquisition using <br />unity Development Block Grant funds <br />h we will reimburse with bond funds <br />.they are available. <br />The total cost of all projects is <br />estimated at $3,349,153. Mrs. Kolata <br />noted that to arrive at these estimates, <br />a cenercus contingency was added to the <br />contractors' estimates because we did not <br />warit to underestimate the costs. <br />. ata noted that the estimated bond <br />et $4,895,000. The lease provides <br />fox, the Redevelopment Authority to <br />acquire the property, which means that <br />scue will cane from the Park Department <br />to the Authority and some will coarse from <br />Jhbond ard of Public Works to the <br />rity. The Commission would then <br />the property from the Authority. <br />payments would be made <br />annually beginning in July 1991 with <br />-21- <br />