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C+ <br />South Bend Redevelopment Commission <br />Regular Meeting —March 5, 2004 <br />6. NEW BUSINESS <br />A. Tax Abatements <br />(1) Commission approval requested for <br />Resolution No. 2045 approving an <br />application for real property tax deduction <br />for property located at 1309, 1325, 1329, 1405 <br />and 1408 West Washington Street in the <br />West Washington- Chapin Development <br />Area. (South Bend Heritage Foundation, <br />Inc.) <br />Mr. O'Brien reported that the petitioner <br />proposes to develop five (5) new homes on <br />West Washington Street. These lots were <br />approved previously for abatements that are <br />about to expire due to lack of development. The <br />petitioner is asking for a new abatement to <br />replace its expiring abatement. The homes will <br />be built by Garden Homes. The one- and two - <br />story homes will range in size from 1,000 to <br />1,200 sft. and will have two -three bedrooms and <br />two baths on a full basement with an attached <br />garage. The estimated dollar value per home <br />will be between $85,000 and $95,000. The total <br />cost of the project is estimated at $450,000. <br />A review of the tax abatements previously <br />granted finds that South Bend Heritage has been <br />granted fourteen (14) previous tax abatements. <br />The Building Commissioner has reviewed the <br />petition and finds the properties to be properly <br />zoned for the proposed use. A review of the <br />South Bend Redevelopment designation areas <br />finds that the properties are in the West <br />Washington/Chapin Development Area; <br />therefore, the abatement must first be approved <br />by the South Bend Redevelopment Commission. <br />A review of the Tax Abatement Ordinance finds <br />that the petitioner meets the qualifications for a <br />ILfive -year residential tax abatement. <br />3 <br />