Box 5, Folder 11, Document 89

Box 5, Folder 11, Document 89

February 7, 1968

FACT SHEET ON THE TRAVELERS INVESTMENT PARTICIPATION IN

THOMASVILLE URBAN RENEWAL PROJECT

The Travelers, Hartford, Conn., through its mortgage loan office in Atlanta,
is currently making mortgage loans on single family homes in the Thomasville

Urban Renewal Project in Atlanta.
To date, these loans total nearly a half million dollars. It is expected that

the company's total investment on this first phase of its commitment in Atlanta
will reach $1 million, an amount which could eventually double.

This urban development mortgage loan participation in Atlanta is one of the
commitments which have been made to date by The Travelers as its part in the
$1 billion mortgage loan program announced last year by the life insurance
industry. This program is designed to provide financing for developers and
others working in blighted core city areas of large urban centers throughout
the United States.

The homes in Thomasville, most in the $12,000 range, are being constructed by
the Knox Home Corp. of Thomson, Ga., and the Fulton County Division of the
National Homes Construction Co. They are both wholly owned subsidiaries of
National Homes Corp. of Lafayette, Ind., one of several developers currently
active in this 227-acre central city project.

The Travelers thus far has made F.H.A. insured loans on nearly 0 homes, and
expects to provide loans on a total of about 70 homes in this first phase. If
arrangements satisfactory to F.H.A., National Homes and The Travelers can be

worked out, financing for an additional 70 homes is possible.






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During official announcement ceremony at the Thomasville project site at 11 a.m.,
Wednesday, February 7, 1968, George W. Kennedy, Jr., chairman of the Housing
and Development Committee of the Atlanta Chamber of Commerce, will introduce
James A. Stewart, vice president, mortgage loan department, The Travelers.
lir, Stewart will announce The Travelers participation in the Thomasville Urban
Renewal Project, and will in turn introduce Mr. James R. Price, chairman of the
board of National Homes Corp. Mr. Price will speak briefly about his corpora-
tion's role in the total project.
Mr. Xennedy will then introduce Mayor Ivan Allen, Jr., who on behalf of the City
of Atlanta, will respond to both The Travelers and National Homes,
Other person invited to attend the formal announcement ceremony include:

John A. Thigpen, State Director, Federal Housing Authority

M. B. Satterfield, Reecutive Director, Atlanta Housing Authority

Howard Openshaw, Director of Development, Atlanta Housing Authority



Robert S. Sommerville, Chairman, Citizens Advisory Committee for Urban Renewal

William S. Howland, Executive Director, Citizens Advisory Committee for
Urban Renewal

Albert J. Bows, Jroey president, Atlanta Chamber of Commerce

Curtis H. Driskell, Metropolitan Affairs Director, Atlanta Chamber of Commerce

Dan E. Sweat, Jr., Director of Governmental Liaison, Office of Mayor Allen

Malcolm D. Jonas, Housing Coordinator, Office of Mayor Allen

Cecil A. Alexander, Member of Finch, Alexander, Barnes, Rothchild and Paschal
architectural firm

Frank P. Flynn, President, National Homes Acceptance Corpe

Joe Elliott, National Homes Construction Corp.

Denver Gray, Manager, Mortgage Loan Department, Atlanta Office, The Travelers,
and Member, Housing and Development Committee of the Atlanta Chamber

of Commerce.