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February 7, 1968 FACT SHEET ON THE 'IRAVELERS INVESTMENT PARTICIPATION IN THCMASVILLE URBAN RENE.WAL PROJECT The Travelers, Hartford, Conn., through its mortgage loan office in Atlanta, io currently making ~0rtgage 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 oeen 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 _l _a rge 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 Thomeon, Ga., and the Fulton County Division of the National Homes Construction Co. They are both wholly owned suboidiarion 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 40 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 wor ked out, f inancing for an· additional. 70 homes is possible. �... ..2 .. During official announcement ceremony at the Thomasville project site at ll a.m., Wednesday, February 1, 1968, George W. Kennedy, Jr., chairman of the Housing and Development ~mmittee of the Atlanta Chamber of Commerce, will introduce James A. Stewart, vice president, mortgage loan department, The Travelers. Hr. 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. Kennedy 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, Executive Director, Atlanta Housing Authority Howard Openshaw, Director of Development, Atlanta Housing Authority Robert S. Sormnerville, Chairman, Citizens Advisory Committee for Urban Renewal William S. Howland, Executive Director, Citizens Advisory Committee for Urban Renewal Albert J. Bows, Jr., 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. Jones, 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 Corp. Joe Elliott, National Homes Construction Corp. . Denver Gray, Manager, Mortgage Loan Department, Atlanta Office, The Travelers, and Member, Housing and Development ColTill:i.ttee of the Atlanta Chamber of Commerce. �