Box 8, Folder 25, Document 22

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Box 8, Folder 25, Document 22

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ATLANTA, GA. 30303
Tel. 522-4463 Area Code 404
R. EARL LAN.DERS, Admini strative Assistant
MRS. ANN M. MOSES, Executive Secretary
DAN E. SWEAT, JR ., Director of Governmental Liai son
July 1, 1969
Dan. Sweat, Jr.
George Berry
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 requirements 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 Neighborhood, Inc. paid over to the Housing Authority $10,800.00. These funds were
borr<:>wed 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 economically 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 app eare d
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 on 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. As a matte:i; 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,
Ge0rge Berry

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