Hammond approves $10,000 forgivable loan for buyer of 6606 Madison

The Hammond Redevelopment Commission on June 17 approved a $10,000 conditional forgivable loan to Samuel Torres to assist with the purchase of the home at 6606 Madison.

Redevelopment staff presented the application and said, “Samuel Torres will receive $10,000 for the forgivable loan to purchase 6606 Madison.” Torres answered staff questions during the meeting about how he learned of the program and his lender, identifying Manny Gonzalez as his realtor and First Financial Bank (Michelle Anderson) as his lender. He told commissioners he has lived in Hammond for eight years.

Commissioner Myricks moved the loan approval and Commissioner Tomage seconded. The motion passed on a roll call vote recorded as 5-0. Staff and commissioners provided no additional conditions at the June 17 meeting.

The loan was listed on the agenda as a “homebound conditional forgivable loan” for the acquisition of 6606 Madison; staff will complete the conditional paperwork and proceed with closing steps as appropriate.