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lei <br />South Bend Redevelopment Commission <br />Regular Meeting —May 2, 2003 <br />6. NEW BUSINESS <br />A. Tax Abatements <br />(2) continued... <br />Upon a motion by Mr. Kahn, seconded by <br />Ms. Jones and unanimously carried, the <br />Commission approved Resolution No. 1975 <br />approving an application for personal <br />property tax deduction for property located <br />at 3751 Olive Road in the Airport Economic <br />Development Area. (Gibbs Wire and Steel <br />Company, Inc.) <br />(3) Commission approval requested for <br />Resolution No. 1976 approving an <br />application for personal property tax <br />deduction for property located at 3333 W. <br />Lathrop Street in the Airport Economic <br />Development Area. (Total Enterprises, <br />Ltd.) <br />Total Enterprises manufactures tooling <br />primarily for use in the automotive and <br />office furniture industries. Such products as <br />office and automotive seats, arm rests, head <br />rests, fire walls, floor pans and head liners <br />are made from their tools. The company <br />COMMISSION APPROVED RESOLUTION NO. 1975 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 3751 OLIVE ROAD IN THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA. (GIBBS WIRE <br />AND STEEL COMPANY, INC.) <br />Estimated taxes <br />over 5 yrs <br />Without abatement <br />$170,027 <br />With 5 -yr abatement <br />$54,858 <br />Estimated cost of 5 -yr <br />abatement <br />$115,169 <br />Upon a motion by Mr. Kahn, seconded by <br />Ms. Jones and unanimously carried, the <br />Commission approved Resolution No. 1975 <br />approving an application for personal <br />property tax deduction for property located <br />at 3751 Olive Road in the Airport Economic <br />Development Area. (Gibbs Wire and Steel <br />Company, Inc.) <br />(3) Commission approval requested for <br />Resolution No. 1976 approving an <br />application for personal property tax <br />deduction for property located at 3333 W. <br />Lathrop Street in the Airport Economic <br />Development Area. (Total Enterprises, <br />Ltd.) <br />Total Enterprises manufactures tooling <br />primarily for use in the automotive and <br />office furniture industries. Such products as <br />office and automotive seats, arm rests, head <br />rests, fire walls, floor pans and head liners <br />are made from their tools. The company <br />COMMISSION APPROVED RESOLUTION NO. 1975 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 3751 OLIVE ROAD IN THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA. (GIBBS WIRE <br />AND STEEL COMPANY, INC.) <br />