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South Bend Redevelopment Commission <br />Regular Meeting -March 2, 2007 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />() continued... <br />price of the homes will be $65,000. Total <br />taxes to be abated during the five-year <br />abatement period is estimated at $2,895 per <br />home for a total of $14,775. Total taxes to <br />be paid during the five-year abatement period <br />for each home is estimated at $1,370 per <br />home for a total of $6,850. Habitat has had <br />numerous abatements since 1998. The <br />property is properly zoned for single-family <br />homes. The property is in the West <br />Washington-Chapin Development Area, <br />which is a Tax Increment Allocation Area; <br />therefore, approval of the tax abatement <br />petition by the South Bend Redevelopment <br />Commission is required. The project <br />qualifies for five years of residential tax <br />abatement under the tax abatement <br />ordinance. <br />Ms. Jones asked what Habitat's timeline <br />would be for constructing these homes. Mr. <br />Junkins responded that they would be built <br />during this building season, completed before <br />November 2007. <br />Mr. Peczkowski asked how many of each <br />type of house would be built. Ms. Blosser <br />responded that the size of the home depends <br />on the family that will be occupying it. The <br />family/home assignments haven't been made <br />yet. Ms. Blosser estimated that there would <br />be at least two of each home built. <br />Mr. Peczkowski asked who would be the <br />recipient of the abatement benefit. Ms. <br />Blosser responded that the home owner <br />5 <br />