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Redevelopment Commission Meeting <br />Regular Meeting — September 3, 2004 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />(1) continued... <br />with the reporting requirements for the <br />previous abatements. <br />The building commissioner has reviewed the <br />petitions and finds the properties to be <br />properly zoned for the proposed use. <br />The petitioner has completed and submitted <br />the required Memorandum of Agreement for <br />each of the abatements. <br />A review of the South Bend Redevelopment <br />designation areas finds that the property <br />located at 2722 W. Tucker Drive is located in <br />the Sample Ewing Development Area, which <br />is a Tax Increment Allocation Area; <br />therefore, the petitions for real and personal <br />property tax abatement for the Tucker Drive <br />location must first be approved by the South <br />Bend Redevelopment Commission. The <br />1400 Riverside Drive location is not in a <br />Redevelopment designated area and, <br />therefore, does not require any action by the <br />Commission for that location. <br />The project meets the qualifications for a five <br />year real property abatement and a five year <br />personal property abatement under the tax <br />abatement ordinance. <br />Mr. Beitzinger noted that, using the building <br />addition cost of $638,000, the abatement will <br />save the company $59,724. They'll still pay <br />over $39,000 during that same period. <br />