Box 15, Folder 5, Document 60

Box 15, Folder 5, Document 60

CITY OF ATLANTA. “2.3%

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CITY HALL ATLANTA, GA. 30303

Tel. 522-4463 Area Code 404

IVAN ALLEN, JR., MAYOR

R. EARL LANDERS, Administrative Assistant
MRS. ANN M, MOSES, Executive Secretary

July 1, 1969 DAN E. SWEAT, JR., Director of Governmental Liaison
MEMORANDUM

To: Dan Sweat, Jr.

From: George Berry

Subject: Status of Sale of Shopping Center Site by Atlanta Housing

Authority to Model Neighborhood, Inc.

At your request, I have talked with Philip Vrooman, Disposition Officer of the
Atlanta Housing Authority for a rundown on the status of this transaction,

It seems that this is considered a very unusual transaction as far as the
Housing Authority is concerned. The initial proposition was made without

the benefit of a written proposal and after the proposed sale had been
announced publicly, the Housing Authority personnel assisted the Model
Neighborhood, Inc. in preparing a proposal that would satisfy the require-
ments of the Department of Housing and Urban Development. The written
proposal is dated May 22, 1968. It proposes to buy the two parcels involved
for a total of $216,500.00. When-the sale was first proposed, Model Neighbor-
hood, Inc. paid over to the Housing Authority $10,800.00. These funds were
borrowed from the Trust Company of Georgia and require some sort of quarterly
payment, We understand that these payments are being met from the proceeds
of the $6, 000.00 granted to the organization through EDA in 1968.

The proposal conditioned the sale of the property on Model Neighborhood, Inc.
being able to secure a loan for the balance which in turn necessitates securing
commitments from a sufficient number of tenants to make the venture economi-
cally feasible. Mr. Vrooman states that there have been many conferences
with Mr. Moody over the past year in an attempt to assist his organization in
meeting this condition but, while Mr. Moody and his associates have appeared
confident and determined, these commitments have not been obtained as yet.
July 1, 1969

Memo to Dan Sweat, Jr.
Page Two

The written proposal that was drawn up for this proposed sale does not have
a time period written in which places any time limit cn when this commitment
must be met, Further, the way Mr. Vrooman interprets the document, the
$10, 800.00 is refundable if Model Neighborhood, Inc. does not consumate

the sale. Asa matter of fact, there seems to be some confusion at the
Housing Authority as to what the $10,800.00 is because the Authority has
never deposited the check even though it was received a year ago.

Mr. Vrooman states that at the last conference that was held with Mr. Moody
a few weeks ago, he stated that it looked like it would be about six (6) months
before the transaction could be consumated.

Very truly yours,

neorge Berry

GB:p