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South Bend Redevelopment Commission <br />Regular Meeting — February 21, 2003 <br />6. NEW BUSINESS <br />B. Tax Abatements <br />(1) continued... <br />Mr. Hunt inquired as to the impact on the <br />current facility. <br />Mr. Yerry advised that the men's ministry <br />will stay on Michigan Street. In addition, <br />the program for feeding everyone three <br />meals per day will also remain on Michigan <br />Street. <br />Mr. Blake asked approximately how much <br />room there will be for families. <br />Mr. Yerry indicated there will be room for <br />eighteen families plus the single units. <br />Mr. Hunt asked about the time frame <br />involved. <br />Mr. Yerry advised that the construction <br />would be done in phases. The first phase <br />being the education area and the second <br />phase would be the remainder of the <br />residential space. $1.25M has been pledged <br />thus far to the project in addition to a $2M <br />tax credit, making a total of $3.25M to begin <br />the project. <br />Mr. Hunt asked if the entire tax abatable <br />portion would be in the first phase. <br />Mr. Yerry responded that as soon as they <br />receive that money construction would <br />begin. <br />IL 6 <br />