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12-05-03 Redevelopment Commission Minutes
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12-05-03 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />ILRegular Meeting — December 5, 2003 <br />6. NEW BUSINESS <br />A. Tax Abatements <br />(1) continued... <br />an annual payroll of $2,400,000. A review <br />of the tax abatements previously granted, <br />finds that the petitioner has been granted <br />several previous tax abatements. <br />The building commissioner has reviewed the <br />petition and finds the property to be properly <br />zoned for the proposed project. A review of <br />the South Bend Redevelopment designation <br />areas finds that the property is located in the <br />Airport Economic Development Area, which <br />is a Tax Incremental Allocation Area; <br />therefore, the petition for personal property <br />tax abatement must first be approved by the <br />South Bend Redevelopment Commission. <br />A review of the Tax Abatement Ordinance <br />finds that the petitioner meets the standard <br />qualifications for a five (5) year personal <br />property tax abatement. Staff notes, <br />however, that the petitioner's tax payment <br />history since 2000 indicates that taxes were <br />not paid when due. Personal property taxes <br />are now current, but real property taxes are <br />past due for the Spring 2003 installment. A <br />review of tax records prior to 2000 does not <br />indicate any late tax payments. <br />Based on a total estimated equipment cost of <br />$1,590,000 the cost of the tax abatement is <br />as follows: <br />G5 <br />
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