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South Bend Redevelopment Commission <br />Regular Meeting -February 16, 2007 <br />6. NEW BUSINESS (CONT.) <br />A. Public Hearings <br />(4) Commission approval requested for <br />Resolution No. 2312. <br />Upon a motion by Mr. King, seconded by <br />Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2312 <br />expanding the boundaries of the Northeast <br />Neighborhood Development Area, expanding <br />the allocation area for purposes of tax <br />increment financing and amending the <br />Development Plan for the Northeast <br />Neighborhood Development Area. <br />B. Tax Abatements <br />(1) Commission approval requested for <br />Resolution No. 2313 approving an <br />application for real property tax deduction <br />for property located at 129 North <br />Michigan Street in the South Bend Central <br />Development Area. <br />Mr. Mathia noted that MHM Realty proposes <br />to rehabilitate the former Kalamaros law <br />offices located at 129 North Michigan Street <br />which has been vacant for more than six <br />years. The project will convert 8,100 sft of <br />the first floor space to a restaurant, jazz club <br />and banquet/private meeting space. The <br />mezzanine area will remain office space. <br />The basement will be used for a prep kitchen, <br />inventory storage, and employee changing <br />rooms. Extensive upgrades to the roof, <br />HVAC, electrical, and plumbing systems will <br />also be done. <br />Rehabilitation costs for the project are <br />estimated at $586,087. Total taxes to be <br />COMMISSION APPROVED RESOLUTION N0.2312 <br />EXPANDING THE BOUNDARIES OF THE <br />NORTHEAST NEIGHBORHOOD DEVELOPMENT <br />AREA, EXPANDING THE ALLOCATION AREA FOR <br />PURPOSES OF TAX INCREMENT FINANCING AND <br />AMENDING THE DEVELOPMENT PLAN FOR THE <br />NORTHEAST NEIGHBORHOOD DEVELOPMENT <br />AREA <br />8 <br />