Box 15, Folder 5, Document 65

Box 15, Folder 5, Document 65

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_ duly 16, 1968
Mr. Edward Moody
Chairman, Board of Trustees

Model Neighborhoed, Ince ’ ; .
7O0 McDaniel Street, Se We 2 i
Atlanta, Georgia 30310 . 0 4

Re: Parcels B-100 and B-l)
Ravson-Vashington Street Urban
Redevelcopxent Area
Project Georgia R-10
Model Neighborhood, Ince

Dear lire Moody:

Thank you for your letter of Juns 26, 1968, in which you advised us
concerning your efforts tovard gatting financings for the shopping
center you plan to erect on the above described property. You also
speak of an option to acquire the proverty and request an extension
of tine because your 5% bid deposit expires on July 13th.

In clarification of the matter it scens appropriate to review briefly
ths existing situation in respect to this property. On May 17, 1958,
Model Neighborhcod, Inc., made a proposal to The Housing Authority to
buy Parcels B-10bd and Bel) in the Rawson-Washington Street Urban Red-
elopzent Area for a price of $216,500.00 and attached to the proposal
@ Treasurer's check issued by the Trust Company of Georgia in the sun
of $10,800.00. ,

On May 22, 1968, the Board of Comnissfonerg of the Housing Authority
accepted the proposal conditioned upon your corporation receiving a
commitment of funds.

On May 29, 1968, the Housing Authority wrote and advised you of thse
action taken by the Board of Commissioners and further advised that
before the Housing Authority can actually and formally accept your

* proposal, it must have knowledge that Model Neighborhood, Ince, has

received such a comnitcent. No date was set by which you are required
to obtain such a commitment. It was our desire to give you a reasona~
ble tins and to work with you in every way possible.
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Yr. Edward Moody | .
July 16, 1968 . yt
Page Two - < pi

As the scatter now stends, when the Housing Authority is given knowledge
that Hodel Neighborncod, Ince, has received a conaitment of funds for
the purpose of butiding tha shopping ceater, the proposal made by Hedel
Heignborhood, Ince, will ba accepted. This situation will continue

for a reasonable tine and we sincerely hope that your efforts to finance
the project will soon be fruitful. /

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Very truly yours,

Howard Openshaw .
Director of Redevelopzent

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