Laserfiche WebLink
APP <br />7 1997 <br />BOOK <br />67 8 13 <br />started as a loan. <br />Towards the end of FY 1983, the Board <br />made a <br />decision that it did not appear the loan would be repaid and <br />decided to grant the money rather than calling it a loan. From <br />that point on the Board basically has agreed to fund the opera- <br />tions of the Housing Authority in terms of their personnel and <br />some of their office expenditures; there are no Board funds going <br />towards the projects the Housing Authority is working on. <br />Attorney Collins came before the Board representing the <br />Housing Authority. He noted that he was not aware these figures <br />were being compiled and did believe they will have a hard time <br />responding to them. However, he did not believe there is another <br />county in the state that does not commit itself to helping <br />underprivileged citizens obtain low cost housing. Therefore, he <br />felt in general, value has been received. <br />Attorney Collins wished to deal just with the particular <br />item on the agenda today. He emphasized that the Housing <br />Authority does not like being in this position, and he comes <br />before the Board today only because they need to pursue all their <br />alternatives in order to be able to continue the Victory Park <br />project. There has been some controversy in the press as to a <br />potential foreclosure suit in Victory Park Phase 1, and he wished <br />to make it absolutely clear that the DCA released all the acreage <br />in Phase I from the mortgage, and it is free and clear of all <br />encumbrances with no threat of foreclosure. Construction has <br />begun on Phase 1; it is on schedule; and it is a first class <br />project. The DCA -now is asking that they pay the balance of the <br />loan, and has indicated they will not grant an extension. The <br />Housing Authority is trying to find a way to pay them off and <br />hold the property for Phase 11. <br />Attorney Collins felt it is important that the Commission <br />know that four months ago, the Housing Authority applied for the <br />funding for Phase II. The architectural and engineering work was <br />done and the entire application completed, and it is ready for <br />review. Charles Hudnell of FHA accepted the application and then <br />66 <br />M <br />