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Alf <br />South Bend Redevelopment Commission <br />Regular Meeting - December 17, 1993 <br />6. NEW BUSINESS (Cont.) <br />r. Commission approval requested for Loan in <br />connection with the West Washin on- Chapin <br />Loan Program for property located at 226 <br />Laurel Street. ( Essie Mae Meadows) <br />Mrs. Kolata noted that this is a $20,000 loan <br />at 0% for 20 years. Payments will be $83.33 <br />per month. The work to be done at this <br />location will cost about $25,000, so <br />approximately $5,000 will be a grant. <br />Upon a motion by Mr. Piasecki, seconded by <br />Mr. Faccenda and unanimously carried, the <br />Commission approved the $20,000 loan in <br />connection with the West Washington - Chapin <br />Loan Program for property located at 226 <br />Laurel Street. (Elsie Mae Meadows) <br />s. Commission approval requested for Loan in <br />connection with the West Washington-Chapin <br />Loan Program for property located at 111 <br />Laurel Street. (John W. Shockey) <br />Mrs. Kolata noted that this is a $60,000 loan <br />at 3 % interest for 30 years. Payments will <br />be $252.96 per month. This loan includes <br />approximately $35,000 for the refinancing of <br />a land contract. <br />Upon a motion by Mr. Faccenda, seconded <br />by Mr. Piasecki and unanimously carried, the <br />Commission approved the $60,000 loan in <br />connection with the West Washington - Chapin <br />Loan Program for property located at 111 <br />Laurel Street. (John W. Shockey) <br />-21- <br />COMMISSION APPROVED THE $20,000 LOAN <br />IN CONNECTION WITH THE WEST <br />WASHINGTON - CHAPIN LOAN PROGRAM <br />FOR PROPERTY LOCATED AT 226 LAUREL <br />STREET. (ESSIE MAE MEADOWS) <br />COMMISSION APPROVED THE $60,000 LOAN <br />IN CONNECTION WITH THE WEST <br />WASHINGTON - CHAPIN LOAN PROGRAM <br />FOR PROPERTY LOCATED AT 111 LAUREL <br />STREET. (JOHN W. SHOCKEY) <br />