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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –October 23, 2009 <br /> <br /> <br />4. COMMUNICATIONS <br /> <br />TC <br />There were no Communications. <br />HERE WERE NO OMMUNICATIONS <br /> <br /> <br />5. OLD BUSINESS <br /> <br />TOB <br />There was no Old Business. <br />HERE WAS NO LD USINESS <br /> <br /> <br />6. NEW BUSINESS <br /> <br /> <br />A. Tax Abatements <br /> <br /> <br />(1) Resolution No. 2608 approving an <br />application for real property tax deduction <br />for property located at 1015 North <br />Frances Street in the Northeast <br />Neighborhood Development Area. (Peter <br />and Nancy Kilpatrick) <br /> <br />Mr. Mathia gave the staff report on the <br />project. The Kilpatricks intend to construct <br />an approximate 3,500 square foot, two-story, <br />single-family home. It will have eight rooms <br />and a finished basement. The project is part <br />of the Notre Dame Avenue Housing <br />Program. The cost of the home will be <br />approximately $615,000. Total taxes to be <br />abated during the five-year abatement period <br />are estimated at $2,216. Total taxes to be <br />paid during the five-year abatement period <br />are estimated at $33,746. <br /> <br />The property is properly zoned for the <br />proposed use. The property is located in the <br />Northeast Neighborhood Development Area, <br />which is a Tax Incremental Allocation Area; <br />therefore, approval of the tax abatement <br />petition by the South Bend Redevelopment <br />Commission is required. The property is not <br />located within the Northeast Neighborhood’s <br />residential TIF area. <br /> <br /> 3 <br /> <br />