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03-19-04 Redevelopment Commission Minutes
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03-19-04 Redevelopment Commission Minutes
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G <br />AN <br />South Bend Redevelopment Commission <br />Regular Meeting —March 19, 2004 <br />6. NEW BUSINESS <br />A. Tax Abatements <br />(1) continued... <br />waiver resolution, the petitioner meets the <br />qualifications for a six (6) year real property <br />tax abatement. <br />Mr. Beitzinger noted that the scheduled <br />amount to be abated will remain the same. <br />Based on a total estimated project cost of <br />$860,366 the cost of the tax abatement is as <br />follows: <br />Mr. Colin Hindman, Cequent Human <br />Resource Director, addressed the <br />Commission. Cequent is extremely excited <br />about bringing jobs to the community. The <br />goal is to create a world class South Bend <br />distribution center of excellence. Cequent <br />feels this objective is well on its way to <br />being met. Any efforts and support from the <br />City of South Bend related to this <br />partnership are truly appreciated. <br />Mr. Livingston advised that the building <br />permit pulled by the contractor was through <br />no fault of the company itself. There is <br />6 <br />Estimated taxes <br />over six (6) years <br />Without Abatement <br />$92,190 <br />With 6 -yr Abatement <br />$38,105 <br />Estimated cost of <br />6 -year abatement <br />$54,085 <br />Mr. Colin Hindman, Cequent Human <br />Resource Director, addressed the <br />Commission. Cequent is extremely excited <br />about bringing jobs to the community. The <br />goal is to create a world class South Bend <br />distribution center of excellence. Cequent <br />feels this objective is well on its way to <br />being met. Any efforts and support from the <br />City of South Bend related to this <br />partnership are truly appreciated. <br />Mr. Livingston advised that the building <br />permit pulled by the contractor was through <br />no fault of the company itself. There is <br />6 <br />
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