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South Bend Redevelopment Commission <br />Regular Meeting — May 20, 2005 <br />6. NEW BUSINESS <br />A. Tax Abatements <br />(2) continued... <br />the land has been made available for <br />Madison Center employees as part of an <br />Employee Assisted Housing Program. This <br />is the first home to be built under the <br />program. The cost of acquisition and <br />demolition of both lots is being absorbed by <br />Madison Center. Under the Employee <br />Assisted Housing Program, the employee <br />will be given the land at no charge as part of <br />the benefit. Ms. Sobel noted that the <br />Heritage Foundation looks forward to <br />continuing its relationship with Madison <br />Center and hopes for many future <br />transactions together related to the <br />neighborhood. <br />Mr. Downes inquired as to how many more <br />homes were anticipated. <br />Ms. Sobel replied that there are <br />approximately five more lots available that <br />can be built on immediately. <br />Ms. Jones asked whether Madison Center is <br />still in the mode of acquiring properties. <br />Ms. Sobel responded that Madison Center <br />has purchased what was needed to strengthen <br />the boundary edge and help the Northeast <br />Neighborhood Revitalization Organization <br />(NNRO) solidify the neighborhood. At this <br />time, unless properties become available <br />directly adjacent to the Madison Center <br />campus, it is believed its acquisition of <br />property is complete. <br />C10 <br />