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South Bend Redevelopment Commission <br />Regular Meeting— December 6, 2002 <br />6. NEW BUSINESS <br />B. Tax Abatements <br />(1) continued... <br />been granted any previous tax abatements. <br />The property is properly zoned for the <br />proposed projects. The property is located <br />in the Airport Economic Development Area, <br />which is a Tax Incremental Allocation Area; <br />therefore, the petitions for real and personal <br />property tax abatement must first be <br />approved by the South Bend Redevelopment <br />Commission. A review of the Tax <br />Abatement Ordinance finds that the <br />petitioners, Edison Lake View Associates <br />and Advantage Puck Technologies, meet the <br />qualifications for a three year real property <br />tax abatement; and Advantage Puck <br />ILTechnologies meets the qualifications for a <br />five year personal property tax abatement. <br />Based on a total estimated project cost of <br />$270,000 the cost of the real property tax <br />abatement is as follows: <br />Mr. Beitzinger introduced Mr. Dan Ceglia, <br />COO of Advantage Puck Technologies. <br />Mr. Ceglia advised that their company has <br />outgrown the facilities currently being <br />C, 12 <br />Estimated taxes <br />over three years <br />Without abatement <br />$14,359 <br />With 3 -yr abatement <br />$ 4,786 <br />Estimated cost of <br />three year abatement <br />$ 9,573 <br />Mr. Beitzinger introduced Mr. Dan Ceglia, <br />COO of Advantage Puck Technologies. <br />Mr. Ceglia advised that their company has <br />outgrown the facilities currently being <br />C, 12 <br />