05-20-05 Redevelopment Commission Minutes

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South Bend Redevelopment Commission ILI Regular Meeting — May 20, 2005 Ci 6. NEW BUSINESS A. Tax Abatements (1) continued... which is a Tax Incremental Allocation Area; therefore, the petition for real property tax abatement must first be approved by the South Bend Redevelopment Commission. A review of the Tax Abatement Ordinance finds that the petitioner meets the qualifications for a five (5) year residential tax abatement. Based on a total project cost of $78;500 per home, the total tax abatement, per home, is as follows: Ms. Charlotte Sobel of the South Bend Heritage Foundation addressed the Commission. This is the second year of hopefully a long and productive relationship with Habitat for Humanity. The land is given by South Bend Heritage Foundation to Habitat for Humanity, the homes are built; and both the house and land are then transferred to the new family homeowner. The homes built last year on Liston Street fit well into the neighborhood and now construction is being spread further out avoiding a concentration of all one type housing anywhere in the neighborhood. One of the new houses will be the site of the Women Built House in September, the on Estimated taxes over five (5) years Without abatement $5,014.35 With 5 -yr abatement $ 743.45 Estimated cost of 5 -yr abatement $4,270.95 Ms. Charlotte Sobel of the South Bend Heritage Foundation addressed the Commission. This is the second year of hopefully a long and productive relationship with Habitat for Humanity. The land is given by South Bend Heritage Foundation to Habitat for Humanity, the homes are built; and both the house and land are then transferred to the new family homeowner. The homes built last year on Liston Street fit well into the neighborhood and now construction is being spread further out avoiding a concentration of all one type housing anywhere in the neighborhood. One of the new houses will be the site of the Women Built House in September, the on