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G <br />C+. <br />South Bend Redevelopment Commission <br />Regular Meeting — February 21, 2003 <br />5. OLD BUSINESS <br />There was no Old Business. <br />6. NEW BUSINESS <br />A. Public Hearings <br />There were no Public Hearings. <br />B. Tax Abatements <br />(1) Commission approval requested for <br />Resolution No. 1959 approving an <br />application for real property tax <br />deduction for property located at 432 S. <br />Lafayette Street in the South Bend <br />Central Development Area. (Rescue, Inc. <br />and Hope Housing L. P.) <br />Mr. Beitzinger reported that Rescue, Inc. is <br />the owner of the property at 432 S. Lafayette <br />Street. The site is the former Ries Furniture <br />store. In response to the growing number of <br />homeless families in our community, <br />Rescue, Inc. is responding with a complete <br />renovation of the building as a new shelter <br />for families, which will be called the Family <br />Life Center. A portion of the building will <br />be leased to Hope Housing L.P. which will <br />own 34 units of transitional housing. The <br />housing will be owned by the limited <br />partnership because the partnership will <br />receive funding through the Low Income <br />Housing Tax Credit Program. Hope <br />Housing will be responsible for real property <br />taxes on the portion of the building that they <br />will own, and they are seeking a ten year <br />abatement on that portion. <br />THERE WAS NO OLD BUSINESS. <br />THERE WERE NO PUBLIC HEARINGS. <br />