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G <br />South Bend Redevelopment Commission <br />Regular Meeting — September 2, 2005 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />(1) <br />C� <br />continued... <br />The project meets the qualifications for a five <br />(5) year personal property tax abatement <br />under the tax abatement ordinance. <br />The estimated cost of the project is as <br />follows: <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2184 <br />approving an application for personal <br />property tax deduction for property located at <br />1827 N. Bendix Drive in the Airport <br />Economic Development Area. <br />(Mann +Hummel USA, Inc.) <br />Housing <br />(1) Commission approval requested for Loan <br />and Grant in connection with the South <br />Bend Home Improvement Program for <br />property located at 724 Diamond Avenue. <br />(Manuel D. Fonseca) <br />Mr. Schalliol noted that the loan is for <br />$3,750 and the grant is $7,500. <br />5 <br />COMMISSION APPROVED RESOLUTION NO. 2184 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 1827 N. BENDIX DRIVE IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA. <br />(MANN +HUMMEL USA, INC.) <br />Estimated Taxes <br />Over 5 Yrs <br />Without Abatement <br />$266,166 <br />With 5 Yr <br />Abatement <br />$91,100 <br />Estimated Cost of 5 <br />Yr Abatement <br />$175,066 <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2184 <br />approving an application for personal <br />property tax deduction for property located at <br />1827 N. Bendix Drive in the Airport <br />Economic Development Area. <br />(Mann +Hummel USA, Inc.) <br />Housing <br />(1) Commission approval requested for Loan <br />and Grant in connection with the South <br />Bend Home Improvement Program for <br />property located at 724 Diamond Avenue. <br />(Manuel D. Fonseca) <br />Mr. Schalliol noted that the loan is for <br />$3,750 and the grant is $7,500. <br />5 <br />COMMISSION APPROVED RESOLUTION NO. 2184 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 1827 N. BENDIX DRIVE IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA. <br />(MANN +HUMMEL USA, INC.) <br />