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South Bend Redevelopment Commission <br />Regular Meeting — November 18, 2005 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />14 <br />B. <br />L <br />(1) continued... <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Blake and unanimously carried, the <br />Commission approved Resolution No. 2196 <br />approving a real property tax deduction for <br />property in the Airport Economic <br />Development Area (Imagineering) <br />South Bend Central Development Area <br />(1) Commission approval requested for <br />proposal for professional services in the <br />South Bend Central Development Area. <br />(Survey, 722, 724 -726 S. Michigan St.) <br />Mr. Schalliol explained items 6.B.(1) and (2) <br />along with items 6.C.(1) and (2). At the <br />October 7, 2005 meeting the Commission <br />authorized sending a purchase offer for the <br />Ford and Colley properties on South <br />Michigan Street. The properties have since <br />been acquired. The properties now need <br />surveys and environmental assessments. <br />Wightman Petrie has submitted proposals for <br />all of the work, broken down as follows: <br />COMMISSION APPROVED RESOLUTION NO. 2196 <br />APPROVING A REAL PROPERTY TAX DEDUCTION <br />FOR PROPERTY IN THE AIRPORT ECONOMIC <br />DEVELOPMENT AREA (IMAGINEERING) <br />Estimated Taxes <br />Over 10 Yrs <br />Without Abatement <br />$1,460,640 <br />With 10 Yr <br />Abatement <br />$737,623 <br />Estimated Cost of 10 <br />Yr Abatement <br />$723,017 <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Blake and unanimously carried, the <br />Commission approved Resolution No. 2196 <br />approving a real property tax deduction for <br />property in the Airport Economic <br />Development Area (Imagineering) <br />South Bend Central Development Area <br />(1) Commission approval requested for <br />proposal for professional services in the <br />South Bend Central Development Area. <br />(Survey, 722, 724 -726 S. Michigan St.) <br />Mr. Schalliol explained items 6.B.(1) and (2) <br />along with items 6.C.(1) and (2). At the <br />October 7, 2005 meeting the Commission <br />authorized sending a purchase offer for the <br />Ford and Colley properties on South <br />Michigan Street. The properties have since <br />been acquired. The properties now need <br />surveys and environmental assessments. <br />Wightman Petrie has submitted proposals for <br />all of the work, broken down as follows: <br />COMMISSION APPROVED RESOLUTION NO. 2196 <br />APPROVING A REAL PROPERTY TAX DEDUCTION <br />FOR PROPERTY IN THE AIRPORT ECONOMIC <br />DEVELOPMENT AREA (IMAGINEERING) <br />