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South Bend Redevelopment Commission <br />Regular Meeting -January 19, 2007 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatement <br />() continued... <br />He hopes his location there is a catalyst for <br />other technology related businesses to locate <br />there as well. <br />Mr. King thanked Mr. Bennett for his <br />confidence in the area and reiterated the <br />Commission's desire to facilitate technology <br />and innovation development there. <br />Upon a motion by Mr. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2307 <br />approving an application for real property tax <br />deduction for property located at 511 East <br />Colfax and 210 North Niles in the South <br />Bend Central Development Area. (Odyssian <br />Technology) <br />(2) Commission approval requested for <br />Resolution No. 2308 approving an <br />application for personal property tax <br />deduction for property located at 511 East <br />Colfax and 210 North Niles in the South <br />Bend Central Development Area. <br />(Odyssian Technology) <br />Mr. Schalliol noted that the project for the <br />personal property abatement will invest <br />$384,816 in research and development <br />equipment for Odyssian's new location. The <br />personal property taxes to be abated during <br />the five year abatement are estimated to be <br />$23,517. The taxes to be paid during that <br />same period are estimated to be $12,238. <br />COMMISSION APPROVED RESOLUTION N0.2307 <br />APPROVING AN APPLICATION FOR REAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT S 11 EAST COLFAX AND 21 ~ NORTH <br />NILES IN THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA. (ODYSSIAN <br />TECHNOLOGY) <br />16 <br />